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To: Nicholas Conradin
An interesting article, but there's a fundamental problem here:

the economy isn’t a machine at all, but an ecosystem. And ecosystems aren’t designed, they evolve.

Unfortunately for the thesis of this article, economies aren't "blind, purposeless processes of trial-and-error, specialization, and complexity (the hallmarks of the Darwinian algorithm)."

Rather, among other things an economy is better described in terms of a large number of informed, purposeful decisions on the part of those who partake in the economy. Further, it's not possible to divorce an economy from the rules imposed upon it by politicians, among others -- another breakdown in the thesis.

I stopped reading at this point -- if he's wrong on this fundamental point, the rest of the article's gonna be headed off the cliff.

73 posted on 01/05/2006 4:51:49 PM PST by r9etb
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To: r9etb
...if he's wrong on this fundamental point...

If he's wrong on this central point, capitalism is immoral and socialism should be the most efficient kind of economy. All the planning in the world doesn't make corporations stable. There is a larger view in which the destiny of companies is shaped by contingencies rather than planning.

Even the kinds of plans businesses make are shaped. Planning theories go in an out of style. You cannot tell me what the buzz words will be a decade from now.

The main problem you have is understanding that the source of variation makes no difference in biological evolution or in the economy. Planned or unplanned, things are shaped by unforeseeable contingencies.

105 posted on 01/06/2006 9:31:04 AM PST by js1138 (Great is the power of steady misrepresentation.)
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