Saturday, August 22, 2009


"The supreme example of bottom-up, rather than top-down, complexity is the market itself. As the economist Paul Seabright has written, the almost miraculous system by which he can go out and buy a cotton shirt on a whim — and expect the cotton grower, the weaver, the shirtmaker, the shipper and the retailer to have got it ready for him just when he enters the shop — is not planned or designed, it evolves. The top-down alternative does not have a great track record. Can you doubt that if the shirt industry was run by a National Shirt Service, there would now be queues, quotas and shortages?

Author Matt Ridley, "The Natural Order of Things." The Spectator (UK)

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