Socialist economy

What would a socialist economy look like? The answers to this question vary, but most of them involve planning

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A socialist economy, by contrast, would be “consciously regulated… in accordance with a settled plan,” to borrow a line from Marx.

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One camp has placed particular emphasis on computers. These “digital socialists” see computers as the key to running a planned economy. Their focus is on algorithms: they want to design software that can take in information on consumer preferences and industrial production capacities—like a gigantic sieve feeding into a data grinder—and output the optimal allocations of resources

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