— Steven Hayward, summarizing a point by F.A. Hayek
The meatier version, with context:
"Hayek was emphatic that no matter how big and how fast our computing power got, it did not change the fundamental defect of all centralized economic control: the problem is not simply mastering or processing a large amount of raw data. Information and circumstances change too quickly. More fundamentally, the data necessary for centralized decision-making is not available at all."
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"A fool takes no pleasure in understanding, but only in expressing his opinion." — Proverbs 18:2