Upon finding out that Margaret Thatcher died this morning, this quote from Thomas Sowell’s Basic Economics* came to mind:
“The last President of the Soviet Union, Mikhail Gorbachev, is said to have asked British Prime Minister Margaret Thatcher: How do you see to it that people get food? The answer was that she didnâ€™t. Prices did that.”
RIP, Margaret Thatcher. You will be missed.