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A calculating problem

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TelfordUS Posted: Sun, Jan 3 2010 9:00 PM

The collectivist system makes too many miscalculations to fulfill its objectives. Are there any articles out there that I can read to learn more about economic miscalculations? Can I get feedback as well?

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sthomper replied on Mon, Jan 4 2010 12:06 AM

http://mises.org/Community/forums/p/13145/286455.aspx#286455

It's been host to a Super Bowl, a World Cup, Michael Jackson and the Pope, and now the Pontiac Silverdome has been sold for a fraction of what it cost to build.

The 80,000-seat Silverdome was the National Football League's biggest venue when it was built in 1975 for $55.7 million. But when the Detroit Lions moved to Ford Field in 2002, the stadium went largely unused, and the upkeep became too much for its owner, the city of Pontiac.

In an auction back in November, an unidentified Canadian real estate company had the winning bid -- of $583,000, which is about 1% of its original cost.

 

 

 

i am not sure if this is due to so called malinvestment, a horse and buggy situation or evils of taxation.  or if the silverdome provided it original cost in psychic-value over the years.

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sthomper:

http://mises.org/Community/forums/p/13145/286455.aspx#286455

It's been host to a Super Bowl, a World Cup, Michael Jackson and the Pope, and now the Pontiac Silverdome has been sold for a fraction of what it cost to build.

The 80,000-seat Silverdome was the National Football League's biggest venue when it was built in 1975 for $55.7 million. But when the Detroit Lions moved to Ford Field in 2002, the stadium went largely unused, and the upkeep became too much for its owner, the city of Pontiac.

In an auction back in November, an unidentified Canadian real estate company had the winning bid -- of $583,000, which is about 1% of its original cost.

 

 

 

i am not sure if this is due to so called malinvestment, a horse and buggy situation or evils of taxation.  or if the silverdome provided it original cost in psychic-value over the years.

Seems like the Silverdome overestimated demand, since nobody was really using it anymore.

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i guess.

 the Detroit Lions moved to Ford Field in 2002

 

if the new field hadnt been built...via so called mal-investment or taxation the heralded lions may still be playing (along with concerts etc) at the silverdome.

 

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overestimated demand,...........

 

is widespread 'deman overestimating' more likely to happen with the current money/credit system that currently exists?

is this part of what so - called austrina economics claims?

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DD5 replied on Tue, Jan 5 2010 2:30 PM

TelfordUS:

The collectivist system makes too many miscalculations to fulfill its objectives. Are there any articles out there that I can read to learn more about economic miscalculations? Can I get feedback as well?

If the collectivist system refers to socialism (or some variant) then economic miscalculation is not possible because there are no price with which to calculate in the first place.

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TelfordUS replied on Tue, Jan 5 2010 10:58 PM

DD5:

TelfordUS:

The collectivist system makes too many miscalculations to fulfill its objectives. Are there any articles out there that I can read to learn more about economic miscalculations? Can I get feedback as well?

If the collectivist system refers to socialism (or some variant) then economic miscalculation is not possible because there are no price with which to calculate in the first place.

I was actually referring to the bigger picture of Distributism itself. Wealth collected by a central and agressive organization would be socialism. You could also have voluntary collectivism, couldn't you? It seems possible to have a set of contributors who volunteer a product into an up-for-grabs "pot luck".

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