Source: Free Association
by Sheldon Richman
“Undesigned order may be the most counterintuitive idea around, but it is crucial to understanding how free societies work. Trump and his gang don’t get it. Observe that he thinks he knows when the Federal Reserve should cut interest rates or how national trade statistics should look. The price system, of which interest rates are a part, is generated, not by a central plan, but by the countless daily decisions of buyers, sellers, and abstainers acting according to their articulated, unarticulated, and even inarticulable personal information, know-how, preferences, and purposes. That ‘data’ cannot be recorded in a central and accessible place for use by anyone, bureaucrats included. So attempts at conscious government planning will only muck up the price system, along with everything else. A bull in a china shop is an apt image. If you don’t get this, you don’t get freedom.” (05/09/25)
https://sheldonfreeassociation.blogspot.com/2025/05/tgif-on-importance-of-undesigned-order.html