Line 5 should read “…it(not them) in a split second..! Them in this case refers to inflation. Aplogies

This is all rather interesting because it is has possible implications for my project on Transfinancial Economics. Some have accused TFE as being similiar to a planned economy, or of being “too authoritarian.” However, TFE is an economic system which would exist in an open democracy. It would in its Advanced Stage have super-flexible electronic “price controls” unlike the clumsy, and backward ones of the past. Such “controls” would also be super-sensitive to changes in inflation, and programmed to deal with them in a split second at the time of transaction. Ofcourse, they would be designed in such a way to ensure the Free Market Price can operate as naturally as possible.

I don’t buy the “calculation problem” as stated by Hayek et al, but we ran into a different problem that is manageable but not escapable.

That is, the plan becomes inaccurate after about the second real event, and becomes more and more inaccurate as time goes on.

Feedback loops can help a bit, but the best solution was to manage a lot of the details in P2P fashion between nodes in economic networks, using human judgment.

The Toyota production system was the progenitor of this approach using Kanban cards or some other “pull” signals from the consuming node to the producing nodes.

Pull signals are now being used from point of sale rippling through whole supply chains. They are combined with planning and feedback loops.

This is all doable, and even done, now, at global scale.

In a for-benefit system, we would need pull signals that signal all varieties of human needs regardless of whether they had money attached.

But that leaves out all of the political and social reorganization that would be required to make anything real happen. And then, we can have all the good ideas we want now, but they will not look much like what will evolve.