Planning vs the Austrians

Michael Perelman michael at
Fri Sep 3 09:35:30 MDT 1999

1. Capitalism includes so much waste that the top-down planning errors that Chris
refers to may pale in consequence.   I just finished a book ms. that St. Martin's
will publish on this subject.

2. The indability of top down planners to know EVERYTHING is a red herring.  I
suspect that nobody on this list supports such a program.  Instead, a rational
planning system would draw upon the expertise of workers and managers throughout
the system.

3. The USSR probably had no choice but to institute top down planning at the time
given the poverty and urgency of their situation.


Michael Perelman
Economics Department
California State University
michael at
Chico, CA 95929
fax 530-898-5901

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