Eric Schliesser — Predicting the Future of the Economy; On Rosenberg on Krugman on Reflexivity and Uncertainty

In conclusion, my two qualifications do not undercut Rosenberg’s general thrust. But they also generate some chilling possibilities. Computer power is becoming cheap and we are starting to drown in easily available data. This allows, as Oskar Lange foresaw, for massive simulations and modelling. If governments or corporations could limit our options as consumers to the option generated in simulations then barring natural disasters and war, the economy would be predictable. This is not just science fiction tempting to future rulers of Singapore. Whole chunks of the economy are funny hybrids of public/private entanglements (health, education, defense, construction, etc.) or attempts at generating closed corporate networks (cf, Google, Apple, Facebook, etc.).

Digressions&Impressions

Predicting the Future of the Economy; On Rosenberg on Krugman on Reflexivity and Uncertainty
Eric Schliesser