I find the reality of the 'market rate' frustrating.
I'm extremely excited about cybernetic economic planning as AI and quantum computing become a reality.
Central planners couldn't make a centrally planned economy work with traditional paper book keeping, and even with computers and internet it would be extremely difficult and require an army of bureaucrats so huge it would strain the entire economy. When that process can be automated, with a market AI to handle pricing and supply and production and everything, then we can finally abolish the market.
I assume you're talking about an automated socialist style economy?
I thought the USSR or a few other countries tried that in the last 40 or 50 years as computer networking became possible.
Edit: Quick web search listed USSR, Chile, China.
Yes it's been tried before, but computing power has advanced so far beyond the 20th century when it was attempted last. We can do it.
Do you think the previous failures were due to a lack of computing power?
From what I've read, it seemed more like corruption and politics. Doesn't matter if you had the most powerful computer ever in that case right?
The problem requires a vast army of bureaucrats to run the system, which is where the corruption comes from. Every additional human component of the system adds another layer vulnerability to bad actors. I think if they were automated away and rendered unnecessary, the central planning AI could run the economy with direct input from the masses. No need for bureaucrats.
I find the reality of the 'market rate' frustrating.
I'm extremely excited about cybernetic economic planning as AI and quantum computing become a reality.
Central planners couldn't make a centrally planned economy work with traditional paper book keeping, and even with computers and internet it would be extremely difficult and require an army of bureaucrats so huge it would strain the entire economy. When that process can be automated, with a market AI to handle pricing and supply and production and everything, then we can finally abolish the market.
I assume you're talking about an automated socialist style economy?
I thought the USSR or a few other countries tried that in the last 40 or 50 years as computer networking became possible.
Edit: Quick web search listed USSR, Chile, China.
Yes it's been tried before, but computing power has advanced so far beyond the 20th century when it was attempted last. We can do it.
Do you think the previous failures were due to a lack of computing power?
From what I've read, it seemed more like corruption and politics. Doesn't matter if you had the most powerful computer ever in that case right?
The problem requires a vast army of bureaucrats to run the system, which is where the corruption comes from. Every additional human component of the system adds another layer vulnerability to bad actors. I think if they were automated away and rendered unnecessary, the central planning AI could run the economy with direct input from the masses. No need for bureaucrats.