{"id":30178,"date":"2015-02-14T02:00:36","date_gmt":"2015-02-14T07:00:36","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=30178"},"modified":"2017-07-14T10:23:48","modified_gmt":"2017-07-14T14:23:48","slug":"i-rose-and-a-price-is-signal-wrapped-up-in-an-incentive","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2015\/02\/14\/i-rose-and-a-price-is-signal-wrapped-up-in-an-incentive\/","title":{"rendered":"&#8220;I, Rose&#8221; and &#8220;A Price is Signal Wrapped Up in an Incentive&#8221;"},"content":{"rendered":"<p align=\"center\"><iframe loading=\"lazy\" width=\"853\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/t3QMC_TeP-Q\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<blockquote><p><strong>Published on 8 Feb 2015<\/strong><\/p>\n<p>How is it that people in snowy, chilly cities have access to beautiful, fresh roses every February on Valentine\u2019s Day? The answer lies in how the invisible hand helps coordinate economic activity, Using the example of the rose market, this video explains how dispersed knowledge and self-interested actors lead to a global market for affordable roses.<\/p><\/blockquote>\n<p align=\"center\"><iframe loading=\"lazy\" width=\"853\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/aBYzvPbIFNw\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<blockquote><p>Published on 8 Feb 2015<\/p>\n<p>Join Professor Tabarrok in exploring the mystery and marvel of prices. We take a look at how oil prices signal the scarcity of oil and the value of its alternative uses. Following up on our previous video, \u201cI, Rose,\u201d we show how the price system allows for people with dispersed knowledge and information about rose production to coordinate global economic activity. This global production of roses reveals how the price system is emergent, and not the product of human design. <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Published on 8 Feb 2015 How is it that people in snowy, chilly cities have access to beautiful, fresh roses every February on Valentine\u2019s Day? The answer lies in how the invisible hand helps coordinate economic activity, Using the example of the rose market, this video explains how dispersed knowledge and self-interested actors lead to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[831,25],"tags":[755,1026,1143],"class_list":["post-30178","post","type-post","status-publish","format-standard","hentry","category-business","category-economics","tag-incentives","tag-microeconomics","tag-principlesofeconomics"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-7QK","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/30178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=30178"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/30178\/revisions"}],"predecessor-version":[{"id":30179,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/30178\/revisions\/30179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=30178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=30178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=30178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}