Sometimes a little leadership is all it takes to nudge market forces along. 

150 years after Adam Smith first expounded the miraculous way the market's ‘invisible hand' transforms private self interest into social prosperity, some economists argued that we could achieve the same result with sufficiently sophisticated government planning.

Enter the Austrian émigré Friedrich Hayek . . . who showed that markets achieve their efficiency by utilising information which is distributed throughout the economy and so often unavailable to government. 

Traders and entrepreneurs become aware of new information constantly.  In seeking only his own advantage a trader who is hoarding grain as a result of some impending local crop failure, contributes to the common good because his hoarding drives up grain prices and this broadcasts the increasing scarcity of grain to all in the market.

Market participants need not know why grain has become scarcer, only that it now costs more, to build that information into their own decisions.  Hayek showed how deeply dysfunctional an economy robbed of this intelligence would be, an insight ultimately vindicated by the fall of the Berlin Wall.