Where NEX NEWS visitors are.
A NEXIALIST N+E+W+S FEATURE: Why Central Planning ALWAYS Fails
from L. Reichard White
Do you like the "A-ha!" experience?
Certainly, market-directed capitalism has become the paradigm for most of the world, as central-planning regimes have
fallen into disfavor since their undisputed failures around the world in the four decades following World War II. Federal Reserve Chairman Alan Greenspan,
Testimony on Trade policy to Senate Finance Committee, April 4, 2001
Why they fail: WASTED INFORMATION - - -
"there will enter the effects of particular information possessed by every one of the participants in the market
process, a sum of facts which in their totality cannot be known to the scientific [, political, or any other] observer. It is
indeed the source of the superiority of the market order, and the reason why, when it is not suppressed by the powers of
government, it regularly displaces other types of order, that in the resulting allocation of resources more of the knowledge of
particular facts will be utilized which exists only dispersed among uncounted persons. -Nobelist F.A. Hayek, "The Pretense of
Knowledge," New Studies in Philosophy, Politics, Economics, and the History of Ideas, p. 27.
An example of failed central planning and wasted info - - -
WASHINGTON (Reuters) - Call it too much of a good thing. Members of Congress are inundated with so many e-mail
messages from constituents and special interest groups -- 80 million last year alone -- that lawmakers routinely ignore most of
them, according to a new study. ... "The growing number of citizens are increasingly frustrated by what they perceive to be
Congress' lack of responsiveness to e-mail. At the same time, Congress is frustrated by what it perceives to be e-citizens' lack
of understanding of how Congress works," it added. ... It also urges the public to lower expectations. REUTERS, Study Finds U.S. Capitol Faces E-Mail Crisis,
03/18/2001 8:48 pm ET
* * - Permission to re-post granted. Re-posting encouraged! - * *
In compliance with Title 17 U.S.C. section 107, this material is distributed free without profit or payment for
non-profit research and educational purposes only. -CLICK for further information.