Roblog

The always-fantastic Tim Harford on Britain’s recent spate of shortages, the global supply chain crisis, and all the other things that just aren’t meant to happen in our integrated, globalised, market economy:

“The complex world of obscure supply chains is a wonderful curiosity when explained by Leonard E. Read’s pencil. It is less wonderful when the shelves are empty and billions remain unvaccinated. ‘Have faith that free men and women will respond to the Invisible Hand,’ declaims the pencil. Should we?”