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Books in the Making -
Chrestomathy
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Written by Douglas Wilson
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Thursday, 20 December 2012 07:59 |
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"The tidy-minded think that a given intersection on the north end of town should have only one gas station. That would be efficient and would not be wasteful. And societies that have opted for central planning get one efficient gas station, the only problem being that it doesn't have any gas. The 'inefficient' system has four gas stations there, one on each corner, all have gas, and the price is significantly lower than all the efficient places that might have some gas. What makes this work?" (5 Cities, pp. 173-174).
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