Agriculture

The Miracle of Supermarkets – The Perspective of the Austrian School of Economics

Although we take supermarkets for granted, our access to such a quantity and variety of food products on demand and at any time of year is absolutely remarkable. This “miracle” is all the more impressive given that it is the result of spontaneous and voluntary collaboration between millions of people, most of whom will never meet. This paper will examine the historical evolution and the current operation of supermarkets and the numerous intermediaries that supply them, using the analytical framework of the Austrian School of Economics.

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