John Kay

John Kay cites interesting Q&A with a Russian planner who visited the United States after the collapse of the Soviet Union: A perhaps apocryphal story tells of a Russian visitor, impressed by the laden shelves in US supermarkets. He asked: “So who is in charge of the supply of bread to New York?” The market economy’s answer – that not only is no one in charge, but it is a criminal offence for anyone to seek that position – is surprising. The essential things like milk, bread and eggs get supplied through obliquity rather than direct central planning. And so has been the Internet, worldwide.