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- W4308374488 abstract "• Complexity economics constitutes an alternative approach to economic theory that allows to reinterpret important past questions and debates in economics history such as the feasibility of central planning. • The central theme for a complexity political economy is the cultivation of institutions rather than direct intervention and control of variables. • Cyber-communism is a model of economic organization based on a labor theory of value and a computational complexity approach to economic problems. • From a more theoretical level, the cyber-communist model faces problems of self-reference, computability, and adaptability that weaken the arguments for its feasibility. • Cyber-communism focuses on control, direct intervention, and planning rather than cultivation, which seems to be at odds with a complexity political economy. This article analyzes cyber-communism and the feasibility of central planning from complexity theory. It first introduces the most known definitions of complexity in economics, namely computational and dynamic complexity. This enables to construct a complexity political economy from which then deal with cyber-communism. This political economy highlights the notion of cultivation , as a natural selection approach to established successful institutions and rules. In contrast to cultivation, the article presents the notion of control , which corresponds to traditional political economy, as the belief in the effective alteration of economic variables by a group of planners or policymakers. This work emphasizes some problems central planning faces: self-reference, noncomputability of optimal points, reflexivity, and less adaptive capacity. It concludes that cyber-communism conflicts with a complexity political economy based on cultivation, and that cyber-communist planning is not realistic, ultimately meaning that technology cannot allow and effective socialist planning." @default.
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- W4308374488 date "2022-12-01" @default.
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- W4308374488 title "The political economy of complexity: The case of cyber-communism" @default.
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- W4308374488 doi "https://doi.org/10.1016/j.jebo.2022.10.042" @default.
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