Channel: Emergent Order

Category: Education

Tags: spontaneous ordereconomicsemergent orderemergencesupply and demandfa hayekcoffeehow prices are determinedprices

Description: Have you ever wondered who decides the prices of our favorite things, like cell phones, cars, and coffee? Sellers compete for customers, and customers make real-time decisions based on constraints, such as the amount of cash in their pockets. The story of prices is the story of cooperation, collaboration, and complexity. “Emergence” is the latest video series from EconStories. Made with the support of the Hansen Foundation and Searle Freedom Trust, these videos explore one of our favorite subjects: emergent order. Learn more at econstories.tv/series/emergence!