Mises proved that socialist command economies cannot remain economically stable because of mismatches between actual needs and the dictates of the bureaucracy.

Hayek pointed to the information problem, which is that the information and decisionmaking of a central command economy can never acquire enough information, in order to fit production to actual needs.

i don't think that more networks and more data makes any difference. because outside of the essential conflict between a ruling class of decisionmakers and a massive population of those who would be subject to it, has to do with ideological differences. so, on top of the lack economic calculation, the lac kof sufficient information to do it, there is the problem that a central lever of power is going to be coopted, if not fraudulently established, by someone whose preferences exclude a large swathe of the population, thus creating inherent geopolitical instability on top of the first two problems.

there is no "new economic paradigm" this is always just a revamp of the propaganda campaign from global communists and third-way socialist democrats, to persuade people to accept becoming non-deciding slaves.

between these three factors, any proposals that use the architecture of central command cannot do anything but fail, once the donors in the actual mostly free markets stop propping up the inevitable failures of their command economies. viz soviet union. bulgaria, romania, belarus, latvia.

and now, the EU is trying to do this, as well, and the USA is going for the right wing version of socialism, with the sweet deals between people like thiel, musk, altman, and the rest of them, to institute that surveillance system that they think will solve the information problem.

it's not going to work. the age of socialism is coming to an end, whether you like it or not. there has in fact been a 150 years or so long project to try and institute global socialism, and over 150 million people have been slaughtered to do this. and probably way more than that in the soft war like we saw with 9-11 and covid.