toxicbitcoiner on Nostr: It’s not new, communist central planners have been saying something like this for ...

It’s not new, communist central planners have been saying something like this for at least the last century. They always think that with *x new technology buzzword* like big data, regression analysis, or even Microsoft Excel, that they will have the computing power to overcome Mises’ Economic Calculation problem. The reason why it’ll never work, despite how much computing power they have, is that without property, there’s no cost. No cost, no economic calculation. No calculation, no production. You can see saifedean (npub1gdu…6nak) explain it even better here from 23:28-25:00, then the AI part from 31:40-35:45 Everything in between is great too. https://m.youtube.com/watch?v=16QHLknnHZQ