Venezuela has access to the internet for their 21st century experiment with socialism and it hasn’t turned out very well.
Emails and Web Browsing work almost instantly around the world, but solid economic data that a central planning agency needs to use to make decisions takes time to gather. This it the core of what Broton33 talks about when he mentions the “lack of perfect information”. As an example, US businesses make extensive use of the internet, yet despite this, the US Government routinely has to revise the economic data it gathers, months and sometime years after the original surveys. Gathering accurate and timely data is hard. Gathering all the information you need is impossible. If you want to learn more, then do a Google search using the terms “Economics Perfect Information”.
As to destroying the planet, yes things are getting warmer, but the free market and the profit motive is also producing technologies that will help cool the planet.
Venezuela has access to the internet for their 21st century experiment with socialism and it hasn’t turned out very well.
Emails and Web Browsing work almost instantly around the world, but solid economic data that a central planning agency needs to use to make decisions takes time to gather. This it the core of what Broton33 talks about when he mentions the “lack of perfect information”. As an example, US businesses make extensive use of the internet, yet despite this, the US Government routinely has to revise the economic data it gathers, months and sometime years after the original surveys. Gathering accurate and timely data is hard. Gathering all the information you need is impossible. If you want to learn more, then do a Google search using the terms “Economics Perfect Information”.
As to destroying the planet, yes things are getting warmer, but the free market and the profit motive is also producing technologies that will help cool the planet.