Economics, in reality is the study of how a whole society uses scarce resources that have alternative uses. Economics is about how a society economizes and how individuals share, without even being aware of sharing. There are many other possible ways of allocating resources, and many of these alternatives are particularly attractive to those with political power. However, none of these alternative ways of organizing an economy has matched the track record of economies where prices direct what resources go where and in what quantities. Thus, when a hurricane, flood or other natural disaster strikes an area, emergency aid usually becomes both from FEMA and from private insurance companies whose customers’ homes and property have been damaged. Allstate cannot afford to be slower in getting money into the hands of its policy-holders than State Farm is in getting money into the hands of its policy holders. A government agency, however, faces no such pressure. There is no government rival...