Re:US Federal Reserve raises interest rates for first time s...
by selimthegrim on Wednesday March 16, 2022 @09:38PM
(#30706540)
Red Plenty's mathematically illiterate treatment of mutations makes me doubt the rest of the book.
At one point a quota increase leads a factory to sabotage it's old equipment, so that they may get a new machine to hit the quota. The administrator in charge of approval determines as much - and arranges for a new machine. Unfortunately a pricing reform introduced by the same plan leads to an inability to build the new piece of equipment as equipment was priced by the ton. Requiring the intervention of "well connected" individuals to solve the problem...
Systems adapt - any reform will introduce exploits, and pathologies. To pretend that MMT based central planning yields a different outcome in the long hall is folly.