Metaphors of Market Coordination
Explore Adam Smith's metaphors from "The Wealth of Nations" that illustrate the coordination of the market and the role of grain dealers in ensuring the balance between supply and demand. Discover how these metaphors shed light on the foresight and prudence required in managing resources and the parallel between a benevolent crewmaster and the individual in the market.In this clip
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EconTalk
Dan Klein on Knowledge and Coordination
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