Donna Brazile: "I accept a spontaneous order. But I don't think that's fair to them in a certain sense" She says the term anarchy has come to mean something different from what it actually means. Breckenridge: We can't rely on markets to produce high enough quality bread, so we need safety regulations.
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."