Here’s your invitation for tomorrow night’s meeting from our friends at the Auckland University Economics Group:
We all go about our daily lives unaware of the plans others have made for theirs, yet somehow, for the most part, our plans coordinate. We go for a beer, and the pubs have beer; we go to for hot chips and fine dining, and the city delivers. We leave the house with just pieces of printed paper and a plastic card, and fully expect all our reasonable needs to be met. (And even some of our unreasonable needs!) And usually only notice the system that underlies this miracle when something goes wrong!
Tomorrow night at the Auckland University Economics Group we discuss this amazing phenomenon, of which our few examples here only scratch the surface.
We discuss how price signals and the daily decisions of entrepreneurs between them coordinate the worldwide Division of Labour, and the impetus that gives to economic progress; how planning is done without central plans, and how the various branches of business are kept in proper balance; how 'Paris Gets Fed,' and how central planning and price controls put this at risk; and how consumer advocates harm consumers, and how speculators do so much to help them!
All this and much more, including five simple principles to help you understand how the market almost automatically coordinates the economic activity of every person on the planet, and why the result is order rather than an “anarchy of production.”
Date: Thursday, May 23
Location: Room 215, Level Two, Business School
We look forward to seeing you there. As always, all are welcome to attend.
PS: Check us out on the web at our Facebook Group