Wal-Mart delivered truckloads of supplies, including free prescription drugs, to those devastated by Hurricane Katrina almost immediately after the storm passed, rather than in the days—in some cases weeks—that it took government agencies to provide relief. The fundamental reason for such superior performance is that private ownership and the price system give competitive firms stronger incentives and better information on which to act quickly and flexibly during disasters.

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Other Independent Review articles by Steven G. Horwitz
    Fall 2017   Success and Luck
    Summer 2017   Inequality
    Winter 2013   The Reality of the Wartime Economy
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