![In my essay I refuted the Hayek-Robbins argument by showing how a market mechanism could be established in a socialist economy which would lead to the solution of the simultaneous equations by means of an empirical procedure of trial and error. [...] Were I to rewrite my essay today my task would be much simpler. My answer to Hayek and Robbins would be: so what's the trouble?
Let us put the simultaneous equations on an electronic computer and we shall obtain the solution in less than a second. The market process with its cumbersome tatonnements appears old-fashioned. Indeed, it may be considered as a computing device of the preelectronic age. (Oskar R. Lange)](https://cdn.quotesdtb.com/img/quotes_images_webp/76/oskar-r-lange-age-953976.webp)
In my essay I refuted the Hayek-Robbins argument by showing how a market mechanism could be established in a socialist economy which would lead to the solution of the simultaneous equations by means of an empirical procedure of trial and error. [...] Were I to rewrite my essay today my task would be much simpler. My answer to Hayek and Robbins would be: so what's the trouble? Let us put the simultaneous equations on an electronic computer and we shall obtain the solution in less than a second. The market process with its cumbersome tatonnements appears old-fashioned. Indeed, it may be considered as a computing device of the preelectronic age.
Oskar R. LangeRelated topics
age answer argument computing computer error essay lead less market mechanism old-fashioned procedure rewrite second showing simpler socialist task trial trouble means today Hayek RobbinsRelated quotes
People in France have a phrase: "Spirit of the Stairway." In French: esprit d'Escalier. It means that moment when you find the answer but it's too late. So you're at a party and someone insults you. You have to say something. So, under pressure, with everybody watching, you say something lame. But the moment you leave the party... As you start down the stairway, then - magic. You come up with the perfect thing you should've said. The perfect crippling put down. That's the Spirit of the Stairway. The trouble is, even the French don't have a phrase for the stupid things you actually do say under pressure. Those stupid, desperate things you actually think or do.
Chuck Palahniuk
I foresee great refinements in the field of short-pulse microwave signaling, whereby several simultaneous programs may occupy the same channel, in sequence, with incredibly swift electronic communication; vastly important developments in microwave technique, whereby present clumsy connecting leads between wall or floor sockets and electric devices like toasters and vacuum sweepers may become unnecessary; gigantic magnetrons and klystrons, or their successors, will generate megawatts in microwaves; living rooms and their occupants will be heated by high-frequency waves from walls or ceilings; short waves will be generally used in the kitchen for roasting and baking, almost instantaneously.
Lee De Forest
I shall doubtless outlive some troublesome desires; but I am in no hurry about that; nor, when the time comes, shall I plume myself on the immunity just in the same way, I do not greatly pride myself on having outlived my belief in the fairy tales of Socialism. Old people have faults of their own; they tend to become cowardly, niggardly, and suspicious. Whether from the growth of experience or the decline of animal heat, I see that age leads to these and certain other faults; and it follows, of course, that while in one sense I hope I am journeying towards the truth, in another I am indubitably posting towards these forms and sources of error.
Robert Louis Stevenson
Left to its own devices the market is capable of the most miraculous of inventions and the silliest of self-delusions. It is an extreme romantic. It also has a real purpose - the same one it has always had. That is to organize the supply and exchange of goods or to finance the production of goods - thus facilitating and financing the economy. But the market cannot achieve in a regular and lasting manner its own purpose because it is only an unconscious and abstract mechanism. The factor which must be added in order to create the restraint, balance, and consciousness necessary for long-term prosperity is human leadership. That leadership takes the form of effective regulation.
John Ralston Saul
When we view nature stripped to essentials, so to speak, in this Unification Table, what we see is... a five bit register. ...It is in just this form that data is stored and manipulated within a digital computer. ...Every particle, then, can be specified by a five-bit word and stored in a five-bit register. It's eerie that even the odd restriction on how many minus signs are allowed is reminiscent of a trick used in computers, to detect errors in transmission. You see, if allowed words must have an odd number of minus signs, any single error in transmission of a word can be detected. ...our world might be an intricate program working itself out on a gigantic computing machine.
Frank Wilczek