The Advantages of Basic Income to Markets

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Donna Brazile: I would concede that the dynamism and nimble changes that we see in markets are a benefit to many. She says economists often make a mistake, she thinks, by saying free trade benefits everyone. Brazile: A movement to a more free trade system is going to harm a lot of people. "The big problem that we have is using prices as information"

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."