[ExI] The End of the Future

[Stefano Vaj]

2011/10/4 Dennis May <dennislmay at yahoo.com>:
> Unless the central planner relinquishes control over
> economic decisions a better and better model of
> how to optimize things is still central planning using
> the model of a serial computer to control what could
> be a more efficient parallel process.

Actually, no. As long as we accept the Principle of Computational
Equivalence, given sufficient computational resources the "market"
itself can be emulated at an arbitrary low level as anything else: the
inner working of a star, a biological brain, the entire universe...

And real markets have by no means features such as unlimited bandwith,
zero latency, etc.

Conversely, free-market idolatry hardly takes into account that market
players' inner workings is usually based on planning and
literal-computing support, such as ERP apps, not on the assistance of
any Invisible Hand. And, yes, IBM in the Akers's era abundantly shows
that the alleged advantages of basing a major corporation internal
transactions on pseudo-market mechanisms are far from obvious in real
life.

-- 
Stefano Vaj