Articles on Issue Theme
Silviu CERNA
Universitatea de Vest din Timişoara
A planned (socialist/communist) economy is a system/arrangement in which decisions are made by the state apparatus through a plan that sets production targets for a period of one year (annual plan) or several years (five-year plan). In the 1920s and 1930s, there was an intense debate in the economic literature about the possibility of economic calculation in socialism/communism. Despite the historical, yet theoretically predicted, failure of central planning, its adherents are now regrouping to support the idea that increasing computing power enhances the possibility of economic calculation even in the absence of private property, free markets, and real prices. Along this line of thought, some contemporary authors argue that recent advances in artificial intelligence (A.I.) lead to a situation in which central planning is not only possible, but even superior to the free market.
ŒCONOMICA no. 1-2/2024
Keywords: free market, socialism, economic calculation, central planning, artificial intelligence
JEL: B50, O20, P00
Planned Economies: The Heavy Legacy of a Failed Experiment and a Note on A.I. and Technosocialism
Select Issue:
Archive
Octavian-Dragomir JORA
Academia de Studii Economice din Bucureşti
Mirea-Gheorghe BERECHET
Academia Română
Miruna-Mihaela MIREA
Academia Română
Andreea-Raluca NEDELCU
Academia Română
Gabriela-Mariana IONESCU
Academia Română
Graţiela-Denisa IORDACHE
Academia Română
Simona-Ionela PETCUŢ
Academia Română
Nicolas-Costinel NEGREA
Academia de Studii Economice din Bucureşti
Andreea-Raisa ȚĂRÎNĂ
Academia de Studii Economice din Bucureşti
Authors
