"It is conceivable that there is some alternative feedback mechanism which is as rich, adaptive, and easy to use as the market but is not the market, not even in a disguised form. Nobody has proposed such a thing.".
"today our system of markets are about the whims of the rich matter more than the needs of the poor; that it is more important to keep bond traders in strippers and cocaine than feed hungry children...because feeding them is a less”efficient” use of food than helping rich people eat more."
".... this sort of pathology is not intrinsic to market exchange; it comes from market exchange plus gross inequality. "
" we want to ensure not just that everyone has access to the market, but also that they have (roughly) comparable amounts of money to spend."
" a strong case can be made for egalitarian distributions of resources as
a complement to market allocation. "
"Planning is certainly possible within limited domains — at least if we can get good data to the planners — and those limits will expand as computing power grows. But planning is only possible within those domains because making money gives firms (or firm-like entities) an objective function which is both unambiguous and blinkered. "
"Planning for the whole economy would, under the most favorable possible assumptions, be intractable for the foreseeable future, and deciding on a plan runs into difficulties we have no idea how to solve. "
