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Adam Smith’s "invisible hand" was a feedback mechanism. Prices rose (signal: scarcity); producers increased supply (response); prices fell (correction). A market without price signals is a planned economy, and as the Soviet Union later proved, a planned economy is a network with deliberately broken feedback loops. Soviet factories reported output in tons—so they produced the heaviest, most useless goods possible. The system listened only to the Kremlin, not to reality.

06 - Nexus A Brief History of Information Netwo...
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