Browsing by Author "Hongsong Wang, William"
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Item The political economy of complexity: The case of cyber-communism(2022) Moreno-Casas, Vicente; Espinosa, Víctor I.; Hongsong Wang, WilliamThis 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.