As the Commissariat consults the Planning, Inc. Chocolate Ration Futures Index

[mmcirvin]

This review of a book I have not read, reviewed by lefty economics guy Daniel Davies, contains the following absolutely priceless aside about toy prediction markets like the IEM:

After all, if you can construct a Policy Analysis Market out of thin air and gain all the Hayekian advantages of information processing, why couldn’t the Central Planning Committee just set up a bunch of these “shadow markets” and run communism on the basis of the output?

Is it wrong that I immediately started sketching out a satirical science-fiction world in my head upon reading this?

The ensuing discussion also touches on the software-development obstacle to Technological Singularity that I mentioned earlier.

Comments

[ronebofh.livejournal.com]

Not only is it not wrong, but i demand a short story.