Art Carden pens an interesting article about the importance of decentralized knowledge and market feedback in the production of beer. While the article focuses on making better beer, I think his observations can be applied to the economy at large. I have included Mr. Carden’s parting shot below.
A government could, undoubtedly, make beer. But the right beer with the right flavor profiles for a world of nearly infinite variety of tastes — not all of them consistent? For that, you need a market.
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