HubertManne comments on Would a Soviet-style planned economy be more viable today, with the new technologies of data harvesting and AI?

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[–] HubertManne@piefed.social 1 point 1 month ago (1 child)

I don't think any economy should be either/or. Things where you can't really have competition, or just plain don't, or are just to darn important. Should be state run. Healthcare, education, utilities, infrastructure for sure. Even things done in the private market should be well regulated. You also need a populace where the average have a decent amount of discrecionary income as they need to make decisions on what best to buy, not what they can afford.

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[–] furrowsofar@beehaw.org 1 point 2 weeks ago*

Exactly. Some services are natural for commercial entities. Things with high consumer elasticity, low barrier to entry, and a lot of competition. There are things that are better governmental or well regulated monopoly or near monopoly businesses. These are things with low elasticity, high barriers to entry, and no or low competition. There are also things that governments have low risk when investing, and where competitive organizations have high risk when investing. Anyone of things one specific model best covers everything is delusional.

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