The fact that there is never a taxi when you need one in the rain, or that you can fly 3,000 miles more comfortably than you can fly 300 and flights are occasionally overbooked, reminds us how spoiled we are. We expect this fantastically complex system to be even better coordinated than it sometimes is. Tens of millions of people making billions of decisions every week about what to buy and what to sell and where to work and how much to save and how much to borrow and what orders to fill and what stocks to accumulate and where to move and what schools to go to and what jobs to take and where to build the supermarkets and movie theatres and electric power stations, when to invest in buildings above ground and mine shafts underground and fleets of trucks and ships and aircraft--if you are in a mood to be amazed, it can amaze you that the system works at all.You should pick this one up if you haven't already.
Friday, August 22, 2008
What I am Reading
The short answer: lots of stuff. But I particularly enjoyed this quote from Schelling's Micromotives and Macrobehavior: