The Miracle of the Market

Written By: Jacob Hornberger  |  Posted: Tuesday, March 2nd, 2010

In preparation for the two recent back-to-back blizzards, D.C. residents were emptying the shelves of neighborhood grocery stores. Notwithstanding the pre-blizzard panic buying, what's interesting is that no one was freaking out about whether the stores would be adequately stocked after the blizzards.

After all, think about it: there is absolutely no government planning that goes into what is stocked in grocery stores. No federal Department of Food. No local or state planning commission. No grocery boards. No bureaucrats or bureaucracies. No laws requiring grocery stores to be well-stocked. No rules and regulations dictating how much of each food item, including bread, milk, and chicken, needs to appear on the shelves.

Sign into your account to read the rest of this article. »