Podcast
Odd Lots
This 19th-century book by a French economist was cited as an inspiration for Friedman, used to illustrate how price signals efficiently distribute goods, like food to Paris, through a complex system rather than centralized control.
There's this great book from the 19th century, which is inspiration for Friedman. I'm not a Friedmanite, but like it's an interesting story, which is called Feeding Paris, which is by Bastiat and a Fr...
— Episode: The Greatest Ever Panel on the World's M...
Episode: The Greatest Ever Panel on the World's Most Import...
This 19th-century book by a French economist was cited as an inspiration for Friedman, used to illustrate how price signals efficiently distribute goods, like food to Paris, through a complex system rather than centralized control.
There's this great book from the 19th century, which is inspiration for Friedman. I'm not a Friedmanite, but like it's an interesting story, which is called Feeding Paris, which is by Bastiat and a French economist.
And he was saying if one person was responsible for Feeding Paris, everyone would die because it's impossible to feed a million people if you're making all these decisions on your own.