Socialism/Capitalism – Hayek

Dirk posted a Hayek quote – If socialists understood economics they would not be socialists

[ 22/March/22 ]

I find both socialism and capitalism inadequate and overly simplistic.

We have both social and individual natures, and the pattern is repeated at multiple levels.

At every level complexity is created when individuals agree to cooperate to produce things that cannot be efficiently produced alone.

Cooperation requires levels of systems to detect and mitigate any level of cheating on the cooperative. Without such systems, that level of complexity is destroyed, inevitably.

Neither socialism nor capitalism are sufficiently complex to be capable of long term survival.

We need systems that acknowledge both aspects (and more) and give each due regard. We have sufficient diversity at multiple levels that we will always have novelty, and any novelty that is not actually a direct and unreasonable threat must be respected and allowed appropriate degrees of freedom (commensurate with the responsibility demonstrated by the agent).

About Ted Howard NZ

Seems like I might be a cancer survivor. Thinking about the systemic incentives within the world we find ourselves in, and how we might adjust them to provide an environment that supports everyone (no exceptions) with reasonable security, tools, resources and degrees of freedom, and reasonable examples of the natural environment; and that is going to demand responsibility from all of us - see www.tedhowardnz.com/money
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