Friday, September 21, 2007

Adam Smith in New Delhi (HT to Mary Kissel at WSJ)

The dynamics of the marketplace are truly amazing. Adam Smith recognized this; others have tried to capture it. One excellent printed description comes in today's de gustibus entry in the Personal Journal.

Kissel does a great job in a short essay of capturing the purposeful hustle and bustle that is a marketplace in Delhi. The ebb and flow of competition, the knowledge gained from meeting the consumer's wishes, division of labor at its most elemental.

I strongly recommend this article for use in your economics, world cultures or geography classes.

I look forward to your comments.

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