You don't have to manage it. You just look at results. Make the results public. Then people will respond to that information, and things will manage themselves.
A free market only works when it's an informed free market. In many areas, however, information is deliberately kept obscure and difficult to find. For example, we know from studies that the patients of "leading" cardiologists have a higher mortality than those from resident cardiologists, even adjusted for patient condition - because the leading cardiologists are more likely to order a new intervention rather than wait to see if the old one works, and they're more likely to violate the clinical practice guidelines ("I wrote them!" No, he didn't, it was him and a bunch of others, and they exist for a reason).
If patients knew that their "leading" cardiologist was more likely to kill them, then they might be refuse the interventions, or seek out a resident cardiologist.
Likewise, if people know their building has a life expectancy shorter than their mortgage period, and so on.
If the information is freely available, people can make decisions based on it. There's no need for a commissar in an office somewhere to be making decisions for them.
People rely on the information conveyed via price signals in order to understand the job market requirement for lawyers and software engineers. This seems to work fine. I don’t believe there is any conspiracy to deliberately obfuscate the demand for employment in these areas.
There's no conspiracy. You don't need a conspiracy when interests converge. A person in a large bureaucratic organisation has an interest in having more underlings, it increases his status. And the underlings have an interest in getting hired. And once they do that, they can overwork the underlings and charge clients more. And so on.
Nor does government conspire to.make tax law more complex. But each MP wants to be re-elected, so they bring in a tax or exemption to a tax and a later alteration to the exemption, to.plese some segment of the electorate. And thus tax law becomes more complicated and lengthy, giving rise to the need for more tax lawyers and accountants.
No conspiracy - just everyone acting in their own interests to create bureaucratic bloat and pointless busywork.
It's “the market” in the same way that cancer is “nature”.
I don’t believe you can manage an economy according to results- command economics fails in practice.
You don't have to manage it. You just look at results. Make the results public. Then people will respond to that information, and things will manage themselves.
A free market only works when it's an informed free market. In many areas, however, information is deliberately kept obscure and difficult to find. For example, we know from studies that the patients of "leading" cardiologists have a higher mortality than those from resident cardiologists, even adjusted for patient condition - because the leading cardiologists are more likely to order a new intervention rather than wait to see if the old one works, and they're more likely to violate the clinical practice guidelines ("I wrote them!" No, he didn't, it was him and a bunch of others, and they exist for a reason).
If patients knew that their "leading" cardiologist was more likely to kill them, then they might be refuse the interventions, or seek out a resident cardiologist.
Likewise, if people know their building has a life expectancy shorter than their mortgage period, and so on.
If the information is freely available, people can make decisions based on it. There's no need for a commissar in an office somewhere to be making decisions for them.
Transparency.
People rely on the information conveyed via price signals in order to understand the job market requirement for lawyers and software engineers. This seems to work fine. I don’t believe there is any conspiracy to deliberately obfuscate the demand for employment in these areas.
But it's a self-sustaining system.
There's no conspiracy. You don't need a conspiracy when interests converge. A person in a large bureaucratic organisation has an interest in having more underlings, it increases his status. And the underlings have an interest in getting hired. And once they do that, they can overwork the underlings and charge clients more. And so on.
Nor does government conspire to.make tax law more complex. But each MP wants to be re-elected, so they bring in a tax or exemption to a tax and a later alteration to the exemption, to.plese some segment of the electorate. And thus tax law becomes more complicated and lengthy, giving rise to the need for more tax lawyers and accountants.
No conspiracy - just everyone acting in their own interests to create bureaucratic bloat and pointless busywork.
It's “the market” in the same way that cancer is “nature”.
See Parkinson's Laws.