1,016 karma · joined January 22, 2011
Anarcho-Capitalist Hoppe explains this in the book "A theory of Socialism and Capitalism" (Bear in mind that he puts russian style socialism, social-democracy, conservatism and social engineering in "Socialism" category with varying degrees.):
"....Nonetheless, socialism is very much alive and well, even in the West where social-democratic socialism and conservatism have remained powerful ideologies. How could this come about? One important factor is that its adherents abandoned the original idea of socialism's economic superiority and instead, resorted to a completely different argument: that socialism might not be economically superior but is morally preferable. This claim will be considered later . But that is certainly not the end of the story. Socialism has even regained strength in the field of economics. This became possible because socialism combined its forces with the ideology of empiricism, which traditionally has been strong in the Anglo-Saxon world and which, in particular through the influence of the so-called Vienna-circle of positivist philosophers, became the dominant philosophy-epistemology-methodology of the twentieth century, not only in the field of the natural sciences but also in the social sciences and economics...."
"....No matter what the charges brought against socialism are, then, as long as they are based on empirical evidence the empiricist-socialist could argue that there is no way of knowing in advance what the results of a certain policy scheme will be without actually enacting it and letting experience speak for itself. And whatever the observable results are, the original socialist idea—the “hard-core” of one’s “research programme” as the neo-Popperian philosopher Lakatos would have called it —can always be rescued easily by pointing out some previously neglected, more or less plausible variable, whose noncontrol is hypothesized to be responsible for the negative result, with the newly revised hypothesis again needing to be tried out indefinitely, ad infinitum. Experience only tells us that a particular socialist policy scheme did not reach the goal of producing more wealth; but it can never tell us if a slightly different one will produce any different results, or if it is possible to reach the goal of improving the production of wealth by any socialist policy at all."
When there is little to no coercion from government I doubt any free-market society will fail. And even if it fails, it cannot be as miserably as those socialist ones. Freeing markets almost-always brings better economy.
Some capitalist insight on the topic: https://mises.org/library/technology-and-government-shouldnt...
Apparently these tools only gives operators some clues and save their time. If it is a false positive, probably they just ignore it. Of course, obtaining the information is a different story.
He has a related shorter variation here: