I saw this the other day and wanted to share it with you all as well.
Be sure to check out the related resources on WonderfulLoaf.org.
If we want to improve the world, I think properly functioning markets play an important role.
Voluntary exchange of value
Price discovery
Order as an emergent property
This is how we create prosperity, improve well being, and enable thriving.
For similar ideas, I highly recommend these books by Matt Ridley:
The Rational Optimist
How Prosperity Evolves
The Origins of Virtue
Human Instincts and the Evolution of Cooperation
That was fantastic. Explained in a way that uncomplicates the message. Thank you for always being a good steward of the community! Steem the Dream!
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Glad you enjoyed it!
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The pleasure was all mine, thank you!
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@lukestokes - A wonderful presentation. I think we need not look far to find the secret of 'order'. It is all about 'balance'. Balance in market place is determined by supply, demand, pricing and quality. Balance in life is determined by the play of positive and negative actions as well as emotions. Balance in nature is also through the cycle of life and death , predators and prey... If one of the factors goes out of balance, the result acts in a manner to be self correcting. It is indeed - magical. We need to only look at Zimbabwe to see the effect of one person acting in an overbearing manner causing bread to disappear from shelves in the markets. A country that once used to be known as the wheat bowl of the world, is now in a sad state with empty shelves everywhere. That is what happens when someone tries to 'control', which usually means 'biased motives'.
Sorry for the rant but the lovely video touched a cord. Thanks for sharing. Upvoted.
Regards,
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Beautifully said! No need to apologize.
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Inspiring sources of knowledge. Thank you! It's a reminder for me that there are no "secret powers" or that "THEY" control me and the world like clockworks. People love to see conspiracy patterns (the picture of the man in business suit), patterns in general and fate because it takes the pressure away for own responsibility and too many live in helplessness and habits. Often we not even notice how deep burned-in our habits are and how we take so many things for granted just to forget personal responsibility in every activity each day. The law of cause and effect remains as powerful principle and can be observed like the baker and his wonderful loaf in this magical self controlled system by real people like you and i we live in.
Tomorrow i'll get my best bred rolls at Forbriger our favorite bakery in Zwickau which even supply us at sunday. Wish you a beautiful Saturday!
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Well said!
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Wow It's a Wonderful Loaf by Russ Roberts is a good video with awesome story. This can be applied in our dialy life, thanks for sharing and have a blessed weekend.
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Naaice : ))
Order from Chaos is not only interesting but a Rule... always fascinating, its not only in the so called “outer world” like bakery... its also in the “inner world” like your body, how do you (or who) know which neuron to fire next, whats the blood pressure, what pH etc. etc... it is just miraculous and magical !!
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It is ironic how to have order we need disorder. Everything just seems to fit together and flow perfectly and harmoniously with no central figurehead leading the way.
I think that this, of course, can be reflected in the markets as well as in the future when people start using the blockchain and everything becomes more fair and distributed when everything starts to become more decentralised.
Thanks for sharing this great video with us @lukestokes. Definitely a great way to start my day with an enthralling poem
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Excellent. I hope to find these book in my country or better yet, in Spanish.
I like this post, bro.
Thanks.
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Very interesting video! it was interesting to hear them talk about "no magic hand" .. in the financial markets - they actually teach about " the invisible black hand" which is an intangible force that moves prices in a free marketplace
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this one I can go with.
I knew we would find some point where we come together.
(although the image of people standing under a huge group of street lights looking at the stars is a doozy)
not too much real world experience showing there.
Do you know the classic "I pencil"?
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It's an amazing pencil indeed.
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yes, we obviously intersect on lots of things.
cheers, and I won't repeat what I said in the other reply.
look forward to talking with you more.
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