Posted on 10/17/2008 1:00:58 AM PDT by ari-freedom
Imagine you had never seen a skating rink. I tell you, "I'm going to invite 100 people down to strap blades to their feet and race around as they like." You say, "That's insane! Someone must coordinate all those people."
Yet we know that the skaters' actions are coordinated, though not through central planning. There are predictable and understandable rules, but within them, people are free. In promoting my interest in avoiding a collision with you, I also promote your interest in avoiding a collision with me.
Economics Nobel Laureate Friedrich Hayek called it spontaneous order. The market system is the leading example. In promoting my interest in gaining through a voluntary exchange with you, I also promote your interest in gaining through voluntary exchange with me.
Like skaters at an ice rink, we trace our way in the economy making decisions for ourselves. It works out pretty darned well. Prices help guide our way.
Most of life works by spontaneous order. It characterizes how we choose our jobs, hobbies, associates, recreation, etc. When politicians try to regulate the process, they usually make life worse.
(Excerpt) Read more at online.wsj.com ...
What about the Queen of an ant colony?
That would be Hillary.
What about the Queen?
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