Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

turn this into an interesting fact I learned from the podcast: No matter how smart the people in control are - whether they're in headquarters

turn this into an interesting fact I learned from the podcast: No matter how smart the people in control are - whether they're in headquarters or the capital or the castle or whatever - they just don't have the knowledge to decide whether the people, you know, out in Alaska should get pickles or oranges. And when I talked to Canice, the economist who was in the room with Susannah and the others, he told me the clear answer to the local knowledge problem is a market, a place where buyers and sellers come together, because the beauty of a market - and, in particular, the beauty of prices - is they show you how much different people - or, in this case, different food banks - value different things

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Changing Resource Problems Of The World

Authors: Ronald G Ridker

1st Edition

131735494X, 9781317354949

More Books

Students also viewed these Economics questions