The Theory of Error in Centrally-Directed Economic Systems

Abstract

I. Effects of size, and private versus public organization, 396. — II. The general tendencies: error and instability in centrally-directed economic systems, 400; fewer but bigger errors, 400; delay, excessive optimism, multiplication of controls, 404; highest motives versus strongest motives, 412; hypocrisy, avoidance and evasion of rules, corruption, 413. — III. Summary, 418.