Calculation Debate in the Age of Big Data

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"In what follows, I will revisit—and, I hope, revitalize—the Socialist Calculation Debate, exploring some of the ways in which the participants conceived the relations between knowledge, price and social coordination, and how their referents may have changed in the age of big data. I will go on to suggest ways in which the development of digital ‘feedback infrastructure’ offers opportunities for the left to propose better processes of discovery, better solutions for the hyper-complexity of social organization in fast-changing environments, and better matches of production and consumption than Hayek’s solution—market competition and the price system—could provide."