Monday, August 01, 2011

Bagels, Pies and the Free Market

Crisis Magazine has an article explaining the 'Free Market' by putting forth an example of producing bagels an pies.

Hey, I'm always looking for a way to simplify my understanding of the complex world of economics.

  Cooperation: A Free Market Benefits Everyone

The following will explain the most important idea in the history of social analysis. The notion (actually, it’s a description of reality that is all around us but rarely noticed) has been around for many centuries. It was first discovered by late-medieval monks working in Spain. It was given scientific precision in the classical period. It is the basis of advances in social theory in the 20th century.
In fact, it is an essential part of the case for freedom. It was the basis of the belief of our ancestors that they could throw off tyrannical rule and still not have society descend into poverty and chaos. The failure to comprehend this idea is at the very root of the pervasive bias against liberty and free enterprise in our times, on the left and the right.

Not simple enough?

American Catholic Blog has a nice video...nice and simple

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