The market, as I have noted before, is a small miracle. All these people come together--sellers, buyers, go-betweens--with different preferences, needs and resources, and manage to come up with a price. The market clears, and everyone is better off.

But not always. When a market fails, it is tempting for public officials to intervene with a policy to fix it. Sometimes these interventions work. Often they make the problem worse, or create new ones. New York City Mayor Zohran Mamdani's plan for government-run grocery stores, five of which are scheduled to open in 2029, falls into the latter category.

There is a genuine problem he hopes to address: Many households are struggling to pay for food. Groceries in New York City are especially expensive because food stores face logistical challenges, as well as high........

© Arkansas Online