Quote:
Originally posted by wig@Sep 3 2003, 07:18 AM
In the world of theory, ideas are judged by their beauty.
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Then Adam Smith's invisible hand SHOULD be judged the best. I certainly find the elegance of capitalism to be a more beautiful idea than the controlled economy and society of Marx.
Interestingly, in many fields of science, there is a recent great interest in bottom up network architecture. How do the individual neurons of the brain each following their own rules and with no apparent leader become "the mind"? How do individual birds each following their own rules and with no leader become a flock? (that one is for Peaches) How do individual bees each do their own dance pointing to a potential new place to move the hive eventually make an aggregate decision for the entire hive without a leader?
And of course on to the question of why it is that pricing decisions are best determined by the aggregate factors of supply and demand rather than a bureaucrat sitting in an office in Moscow or Beijing.
09-03-2003
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