The Romance of Planning

4min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Donna Brazile: I think people with experience with cities, you need some analogy. So we've talked about great markets are let's think about the market for labor. This is incredible sorting of people into various specialties and no one's in charge of it. We can't just rely on this invisible hand,. uncordinated, unconscious cooperation because for a lot of folks, it leads to misery and despair. That's our romance. And down as you said, I really like what you said earlier about how you know we're what makes us different.

Why is it that people in large cities like Paris or New York City people sleep peacefully, unworried about whether there will be enough bread or other necessities available for purchase the next morning? No one is in charge--no bread czar. No flour czar. And yet it seems to work remarkably well. Don Boudreaux of George Mason University and Michael Munger of Duke University join EconTalk host Russ Roberts to discuss emergent order and markets. The conversation includes a reading of Roberts's poem, "It's a Wonderful Loaf."