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5min chapter
Order Without Organizations with Aneesh Karve (WiM141)
The "What is Money?" Show
The Difference Between Central Law and the Decentralized Computing Model of Socialism
Oscar Wilde: Compassion does not scale up to the societal level. It's almost like you're preying on this biological notion that we all have in our small circles of trust, he says. A distributed computing market can then take in number of participants times that number and that's why it out competes Hayek’s argument for socialism. The central planner has a spot on the economic spot but the calculation problem is really in mises language about something that is physically impossible with exchange ratios.
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