TheEfficiencyQuestion (ThoughtStorms)

Maybe EfficientMarkets is better than this page

Does decentralized, free enterprise have to out-perform centralized planning?

The right think they've won the efficiency argument already : America, with it's minimal restrictions generates wealth for all.

The left can point to a multitude of caveats :

: Essentially, capitalism gave America the advantage over the majority of the feudalist world, and it's been ruthelessly exploiting that earlier success to maintain it's advantage through

** economic bullying (ability to make unfair trade deals : while espousing free market theory it imposes many trade restrictions and taxes on the third world),

** military bullying (war against Iraq),

** other exertions of power (for example, America promotes a general trade sanction against Cuba. Not only does it refuse to trade with Cuba which would be it's prerogative, but it also coerces others to not trade with Cuba. For example, by banning any ship which has docked in Cuba within the previous 6 months access to US ports. Most shipping companies in the region can't afford to take stuff to Cuba and then lose custom that involves the US

See also AmericanHypocrisy

Eventually I know we're gonna have to rely on AgentBasedModelling to answer the empirical question. Hence Optimaes

Interestingly, that seems to be what the Austrian economics inspired AgoricSystems people are looking into.

See also LeftAndRightAndScale, NetworksAndMarketFailure, DecentralizedLeft, ProblematicAssumptionsUnderlyingEconomicLiberalism, WhatIsMoney, AntiAmericanism

CategoryPolitics, CategoryEconomics