alt Hacker NewsWhy would this even be so. It's not magic it's just people doing stupid people things often to maximize short term factors. It only gets long-term planning insofar as embedded agents do. One of the things agents do is use incentives to inspire behaviour that is conta individuals short term incentives to achieve behaviour that contributes to long-term success.
Not only are many individual agents aligned with short term interests they often either can't because they will be pushed out by short term thinkers or literally benefit from net harm to all. America mostly being composed of the rich not the masses voting with their wallets.
No one's saying it's magic.
This is the same market (or set of markets) that have lifted billions of people out of poverty. If you're arguing central planning does better then I'd love to see some evidence of it, but to my mind the fact that so many companies can coordinate, even across language barriers and legal systems, sometimes hundreds or thousands cooperating to make products, is incredible, and is not going to be beaten by any other system.
At least on average - of course an authoritarian country like the USSR can drag value out of its citizens by force and spend it on the space race, but that kills people and even, in that case, the country itself.
Far better to have cooperation and value exchange based on the demand generated by real people.