Pedro said:
>Dear Igor and Stan,
>
-snip-
>
>The realm of economy is almost pure information. Rather than planning,
>markets are very clever ways to handle informational complexity. They
>partake a number of formal properties (eg, power laws) indicating that they
>work as info conveyors on global, regional & sectorial, local scales.
>Paradoxically, "rational" planning can take a man to the moon, or win a
>war, but cannot bring bread and butter to the breakfast table every day.
>Planning only, lacks the openness, flexibility, resilience, etc. of
>markets. A combination of both, with relative market superiority looks
>better...
It is hard for me to visualize the economy as being almost pure
information! This is to forget about so-called 'externalities' -- sources
and sinks, storms, wars, climate change -- even holidays! The larger scale
material environment constrains the economy, while that(perhaps mostly as
information) constrains human action.
STAN
>with regards,
>
>Pedro
>
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