Thanks. Hayek is spot on, of course, but this focus in just on a commercial / business perspective. This scope does not consider elements such as charity in which exchanges of goods and information are done without a tangible market price consideration. Wikipedia operates on a different model, editors allocate their time/effort to improve Wikipedia pages because they see value in what the platform offers. No one is “supposed to” do this work for Wikipedia, people voluntarily choose to do so because of the value of doing so. The same would apply to this effort, people may choose to provide value to it or not based on the value it offers. It’s really not much different than the message you just posted, you chose to voluntarily do it since it provided value but there was no price involved just the like millions of other messages posted here. What this project does is just offer a vehicle to better structure information to make it more usable.
To be certain, there is no obligation for anyone to participate in this effort.
Thank you for the post!
The message that I previously posted was a guess. This post is a guess. I'm a producer making a guess! That's all producers can do is make guesses. This is true whether we're talking about market economies or command economies. The difference is... in a market economy... consumers can use their money to communicate just how good a producer's guess was. Consumers don't have this freedom in command economies. Which is why command economies tend to fail.
The reason that producers can only make guesses is because they aren't omniscient. They aren't mind-readers. You wrote to me, "Thank you for the post!" Your words sure seem to indicate that you appreciate the time, energy, knowledge and thought that I put into my post. Then again... it seems like you said, "Thank you for the post!" to pretty much everybody who posted in this thread. And, to be honest, it seems highly unlikely that you valued all our posts equally.
I sure don't equally value everybody's posts in this thread! So it seems unlikely that everybody equally values my posts in this thread. I have some evidence of this because ChristianAnarchist is the only person who gave me positive rep for one of my posts. Thanks ChristianAnarchist! I guess? Not to look a gift horse in the mouth... but... I'm not exactly sure what a positive rep is worth. Is a positive rep worth a penny? If it's worth less than a penny then it's not a very big gift horse.
You're right that this forum has millions of messages posted here. But you don't seem to really appreciate that...
1. some of these messages are more valuable than other messages
2. it would be extremely valuable to know the value of each and every message
3. spending would allow us to clarify the value of each and every message
4. it would be infinitely valuable to be able to sort messages by their value
What this project does is just offer a vehicle to better structure information to make it more usable.
Free-market. Those are the Google search results for the term "free-market". What Google does is organize the world's information. What Google does
not do is
efficiently organize the world's information. This is because the results are sorted by voting (number/weight of income links) rather than by spending. In other words... the results are sorted by popularity rather than by value.
To be honest... I'm not quite sure what you mean by "a vehicle to better structure information to make it more usable." But what I do know is that everybody's time is limited. Therefore... the optimal structure will serve consumers the most valuable information in the least amount of time possible. But the only way that this can happen is if you make it stupid easy for consumers to use their cash to communicate their valuation of all the information that you're sharing.
This is an important topic so I'll try and hedge my bets. Have you read Adam Smith's Wealth of Nations? I sure have. It's an awesome book. I really love it. But I sure don't equally love all the different parts of the book. Some parts are exceedingly tedious and/or no longer relevant. Of course there are numerous parts that are painfully relevant. It's almost like most people haven't even read them!!!
Now imagine that you went on Reddit and created a subreddit called "WealthOfNations". Everybody could use that subreddit to share/upvote their favorite passages from the Wealth of Nations. Voting/democracy would allow the most popular passages from Smith's book to rise to the top of subreddit. This would allow people who haven't read the Wealth of Nations to easily/quickly find and read the most popular passages.
As I have already mentioned though... spending is infinitely superior to voting. So it would be infinitely better if people could spent their money on their favorite passages from Smith's book. Then the most
valuable passages from the Wealth of Nations would be at the top of the subreddit.
What I'm describing is simply a market. Your project, as you've described it, is not a market. This means that your project is going to organize information... it might even organize a lot of information... but it's not going to
efficiently organize information.
This post of mine contains information. And everybody will have access to this information. Which is all kinds of awesome! But what everybody will not have access to is everybody else's valuation of this information. You're going to know how much you value this information.... but you're not going to know how much everybody else values this information. Nobody will have access to the most important information about this information. Which is all kinds of awful.
I'll hedge my bets even more. Do you have Netflix? I do. It's pretty great because it provides quite a bit of content. And, just like on this forum, I really don't equally value all the content on Netflix. A while back there was an awesome movie on Netflix called The Man From Earth. I really valued it! And I knew how much I valued it... but I didn't know how much everybody else valued it. This is because Netflix users can't allocate their fees to their favorite content. In other words.... Netflix, just like this forum, is not a market.
Does it matter that producers don't know everybody's valuation of The Man From Earth? Does it matter that producers don't have the most important information about The Man From Earth? Of course it matters. Because they can't make the most informed guesses without the most important information.
The management of a socialist community would be in a position like that of a ship captain who had to cross the ocean with the stars shrouded by a fog and without the aid of a compass or other equipment of nautical orientation. - Ludwig von Mises, Omnipotent Government
You think that this rule has exceptions.... such as this forum, Wikipedia and your project. But it really doesn't. Markets should be everywhere and in everything.