Rely on the market in a crisis

You can stick a pin in a map almost anywhere in the United States, and within a few miles of that pin personally purchase a variety of products, from pencils and straight pins to a laptop computer.  This amazing power comes from thousands of individuals acting to serve their individual interests in pursuit of profit.  In this delicate dance, what is needed is supplied with minimal waste and minimal shortages.  Individuals communicating through price signals are  acutely sensitive to the needs of others with whom they have no direct contact. In this time of uncertainty, there will no doubt be those politicians clamoring for more government control of medicine, health care supplies, hospitals, etc.  Reacting to hoarding of toilet paper and hand sanitizers, they will propose stringent controls on both, threatening jail for hoarders and those not observing COVID-19 boundaries, while releasing from jail true criminal...(Read Full Post)
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