George Will sings the praises of Russ Roberts’ new book.
… [M]arkets allow order to emerge without anyone imposing it. The "poetry of the possible" is that things are organized without an organizer. "The graphite miner in Sri Lanka doesn’t realize he’s cooperating with the cedar farmer in California to serve the pencil customer in Maine." The boss of the pencil factory does not boss very much: He does not decide the prices of the elements of his product—or of his product. No one decides. Everyone buying and selling things does so as prices steer resources hither and yon, harmonizing supplies and demands.
One of these days, all the lefties who are interested in Complex Adaptive Systems (CAS) will reach an epiphany about market economies, understanding finally that there can no more be an economic czar than an a king of the jungle.
– Max Borders