“The Market” Can Deliver Pho and Spring Rolls. It Can Deliver Vaccines.
Markets coordinate the division of labor and the division of knowledge. We cooperate to mutual advantage and deploy for our purposes expertise and skills we don’t have for purposes other people may not understand. Exchange collapses the incomprehensibly complex into simple bids and offers whereby people decide whether or not they want and are willing to pay for what is on offer at the requested price.