Thursday, September 01, 2005

In a Crisis, Markets More Than Ever

by Lew Rockwell

This is a great column to read if you have time. It's about what happens in the aftermath of a natural disaster.

From the article:

You can learn so much about human nature, the workings of society, and the functioning of markets by looking at the aftermath of a natural disaster. It is a fascinating laboratory for observing how society functions under the worst conditions.

If you have ever been through a natural disaster, and paid attention to how the preparation and clean-up takes place, you know precisely what I am referring to: the splendid creative power of human energy to cooperate to overcome the most astonishing barriers.

Such settings can teach us so much about politics and economics. If society can function in these radically abnormal settings, if markets can work well, we discover so much about the power of the same forces and institutions to manage under normal conditions.


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