Indian media and experts are celebrating that finally Indian government is using big data for analysis and catch tax evaders. Even before budget, the government had set up panel of experts to look at deposit data on demonetisation.
In our excitement, we fail to realise this is exactly the trap governments want us to fall into. The idea of controlling and planning people’s activities is some thing which always excites governments and big data once again raises hopes for governments. We only realise our follies of falling in the trap when we are trapped into it.
Xiong Yue writes at Mises Institute blog about the big data potential for the governments. He is less hopeful though. Big data surely give governments more information about people but still prices etc are shaped by preferences of people:
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Utopia, you are standing in it! 
Feb 03, 2017 @ 16:13:18
Soviet Union shows this not to be the case it also showed neo-classical economics has a weakness. The soviets loved it
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Feb 03, 2017 @ 16:52:15
Murray Rothbard was one of the few people in the mid-20th century to take an interest in how the actual Soviet economy worked. There are only a handful. His writings are worth reading just to explain how exactly works and is described the actual Soviet economy is some sort of black market economy.
Boetkke wr interesting papers to one how the actual Soviet economy worked as well As a book or 2
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Feb 03, 2017 @ 16:57:04
see too https://en.wikipedia.org/wiki/G._Warren_Nutter
His suggesting that the Soviet economy was inefficient in the 1950s greatly damaged his academic prospects. He has a number of very good articles in the Journal of Law and economics.
I think it was David Henderson suggested the way to learn economics properly is to read the entire Journal of Law and economics from about 1958 to 1970 or so
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