Revista OEconomica

Tudor Constantin BĂLAN - Cycles of Freedom: Are Our Rights Today Permanently Secured, or Are We in a Transitional Phase? The Cases of Great Britain, the United States, and Russia

Marius-Cristian PANĂ, Adela BĂLAN - Economic Freedom and Prosperity: A Comparative Analysis of Welfare Determinants at the International Level

Ana Octavia ALBU - When Accurate Forecasts Still Produce Waste: Demand Shocks and Over-Forecasting Risk in Food Retail

Adrian-Ioan DAMOC - The Persian Pivot and the Reconfiguration of Geopolitical Realism: Iran and Venezuela in Strategic Competition among the United States, China, and Russia

Emmanuel Olusegun STOBER - Coercive Diplomacy in the Gulf and the Limits of the Strike-Forward Strategy: Toward a Middle-Power Coalition for Regional Stability

Sorin-Nicolae CURCĂ - On the Informational Entropy of Economic Shock

Florin DĂNESCU - The Banking Sector as Critical Infrastructure in the Logic of Hybrid Conflict: Post-2014 Legislative Convergence in Central and Eastern Europe and the Case of Romania

Alexandru POPOVICI - The Contribution of the Music Industry to GDP and Employment: A Comparative Analysis

Mohammed AL-NASSERY - Implications of the War in the Middle East: An Analysis of the Economic, Security, Humanitarian, and Political Dimensions

Mihai LĂCĂTUŞ - GDP as a Means, Not an End: Inequality as the Missing Variable in Fiscal Policy Design – A 60-Country Analysis of Economic Growth and Subjective Well-Being

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

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