The Technocrats of the 1930's urged us to accept the economic guidance of the engineering elite. They would eliminate "waste." Yet the engineers of the Soviet Union have been forced to construct crude economic accounting techniques in order to deal with such "capitalistic" phenomena as value and the rate of interest.
Engineering--meaning specialized, technological competence--cannot deal with such psychological imponderables as consumer preferences. Only the price mechanism of a free market can do this with any degree of accuracy, which is why Ludwig von Mises rejects socialist planning.
If we confuse engineering with economic calculation, we will destroy the rational allocation of scarce resources by the market. It would involve turning over the task of ordering literally quintillions of economic relationships to a centralized elite with necessarily limited knowledge.° The results can be predicted: irrational decisions, petty bureaucratic coercion, and a loss of political freedom. . . .
quinta-feira, janeiro 03, 2013
a ditadura dos tecnocratas
Big Problems and Big Government: Siamese Twins for Special-Interest Groups por Gary North: