( 239 ) 



The combined judgment of millions is a much more accu- 

 rate appraisal than the combined judgment of the adminis- 

 trators of a regimented economy. Both the judgment of the 

 millions and that of the administrators, although correct at 

 one moment, may be wrong the next. As conditions change, 

 the judgment of the millions changes accordingly, regardless 

 of previous decisions. On the other hand, it takes an adminis- 

 trator a long time to make up his mind that he was wrong 

 and still more time to admit it. 



It is not contended that free prices do not frequently make 

 mistakes. It is contended that administrators make many 

 more mistakes. It is better that the public complain of a few 

 injustices in a freely operating price economy for which no 

 individual is responsible than to have it continually irritated 

 by mistaken judgment and faulty administration. 



The simple solution is to let the price system function. In 

 view of the present anti-inflation policy this may seem too 

 inadequate and too improbable a solution to the food mud- 

 dle. The authors contend, however, that any other solution 

 is predestined to fail. To those who seek a remedy for the 

 food muddle within the framework of present policies, the 

 authors have no program to offer. Their suggestions involve 

 fundamental changes in policy rather than the mechanics of 

 administration. 



There are an increasing number of persons who will agree 

 with the authors that price was like an unseen hand that 

 sometimes beckoned and sometimes suppressed the producer, 

 guided the distributor, and advised the consumer. It was the 

 baton that led the national symphony. 



