What I mean to argue is that there will eventually come a time, in a the not too distant future, where the means and efficiency of socialism will come into question yet again. What happens when gauging prices/wages/production becomes
more efficient than markets do, even. With the computing power and voluntary data that corporations are mining from people's preferences, e.g., Facebook, Amazon, at what point will the massive amount of data became data from which we can
predict from efficiently become greater and more efficient than that which markets provide us? Will we then that data, how will we use it, and what for? Assume that you have the data: Now argue both the case for and against using it. Assume, as I do, that the case you have against using that data to set prices/wages/levels of production loses to that which you argue for it with.
To wit, and why I ask: Take the two main intellectual tracts that repudiated socialism in the twentieth century, Von Mises's
Socialism and Hayek's
The Road To Serfdom. They were the essential tracts in repudiating the scientific superiority and workability of socialism. They both argued that centrally planned economies had one fatal conceit -- they could never take the information available at ground level and translate that into wages, prices, or production data. They were, in essence, fatally inaccurate.
This is a primer of Mises and Marxists, and that initial debate:
https://www.econlib.org/library/Columns/y2018/HorwitzSocialism.html
This is a primer of Hayek and
The Road To Serfdom: https://en.wikipedia.org/wiki/The_Road_to_Serfdom
These two books make up the intellectual spine of democratic capitalism as not only efficient, but desirable as far as freedom is concerned. Both Austrian economists, they both see the problems with central planning.
The problem, it seems, is outlined in the first article:
My question, not explained well, will be what in the future will we nationalize and set, at a government level, wages/prices/production for and how will that work? What secondary markets will arise because the algorithm, while powerful, will never be completely effective? This will require two things for the listener/reader to predict:
1) The industry nationalized
2) Where the models will fail in their prediction
3) Where we will override accurate algorithms to institute "fairness" or "justness" into the game (think of underwear, men's and women's, in Russia)?
Just a thought experiment that requires a few steps. Perhaps I expected the OP to be more quickly followed into the rabbit hole. Happy speculating!