Tag: central planning

Member Post

 

In an article on CNN, Dr. Piscitello eloquently points out that even doctors (gasp!) respond to incentives. She outlines how many physicians are incentivized to “do more” by the American healthcare system’s method of paying via “fee for service (FFS).”  In doing so, she describes the Relative Value Unit (RVU) system, instituted by Medicare, to […]

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Quote of the Day: Central Planning and Coronavirus

 

“The great myth of central planning is that capital can be rationally allocated through the elimination of profit and incentive. And that will just magically produce the right outcomes for society.” – Tom Luongo

The Chicom Coronovirus lockdown is a great illustration of this quote. The government is deciding what businesses are “essential” and “nonessential.” The reality is under normal circumstances (under circumstances when the government is not picking winners and losers that is) no private-sector job is nonessential. A profit-making company cannot afford nonessential employees. Too many of them and the business goes broke.

Rob Long’s Data-Driven Utopian Dream

 

In the first 15 minutes of the latest Ricochet podcast (Episode #483), Rob said a couple of things that caught my attention. At one point, when talking about our communication- and data-centric technical culture, he suggested that the answers to all our big problems were probably in the wealth of data we’ve collected.

What came to my mind when he said that was the movie WarGames (1983), in which a wayward defense computer is discouraged from initiating Armageddon when it crunches the numbers and concludes that there’s no way to win a nuclear war. Setting aside the question of whether or not that’s a correct conclusion (and I recently re-re-re-watched Dr. Strangelove, in which Buck Turgidson makes a compelling contrary argument, so I’m really not so sure), what the computer in WarGames did was reach a kind of meta-conclusion. A thorough examination of the available information suggested that no good answers could be found.

Autumn Colors: The Color of Law, an in-depth review

 

When people are free to associate as they please, we can’t be surprised if they sometimes self-segregate. People self-sort along many affinities, including ethnic affinities. This is what lawyers call de facto segregation, and it’s none of the law’s business. De jure segregation — segregation imposed by law, including segregation promoted by public policy — is, on the other hand, very much the law’s business.

In 1866, Congress passed a Civil Rights Act (the 1866 CRA) asserting the equal rights of blacks before the law, including property rights, and real-estate rights in particular. The 1866 CRA warned