Last year, I shared some libertarian humor relating to Valentine’s Day.
This year, we’re going to be a bit more on the wonky side.
Using roses as an example, we’re going to explore how the invisible hand of the market produces amazing results.
Here’s a great new video from Marginal Revolution University. Narrated by Professor Alex Tabarrok of George Mason University’s economics department, it explains how consumers have amazing access to millions of roses even though (actually because) there’s no agency or department in charge of Valentine’s Day.
And here’s a related video from MRU elaborating on the role of the price system.
The moral of the story in these videos is that a free and unfettered market is far and away the best method of allocating resources.
And the flip side of that lesson is that you get very bad results when politicians replace the invisible hand of the…
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