Artificial Intelligence: Dawn of a New Age of Central Planning?

For centuries have academics and politicians debated the merits and demerits of central planning. Central planning (or economic planning, or planned economy) is a mechanism that directly allocate resources. A central authority decides how and where stuff is produced and consumed. It contrasts with its ideological counterpart, the market mechanism, in which resources are allocated indirectly by buyers and sellers who make decisions within regulated marketplaces. Continue reading

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