Fluidity vs Rigidity

Keep me movin'
Over fifty
Keep me groovin'
Just a hippie gypsy
--The Who

A couple months back oil supply and demand were so out of balance that crude futures actually traded in negative territory as swamped producers, lacking available storage capacity, paid buyers to take product off their hands. As humans are prone to do, some people began projecting the consequences of that static situation into the future.

But markets are dynamic. Buyers and sellers adjust to changing environments. Facing declining demand, producers have been cutting back production...dramatically. Consequently, crude prices have recovered considerably.

This is the strength of markets over central planning. It is not that mistakes aren't made. Yes, planners make mistakes, but so do market participants. The real strength of markets is that markets act quickly to correct mistakes. They have tremendous adaptive capacity.

Planners, on the other hand, tend to persist with failing courses of action.

Markets are mobile and fluid. Planners are static and rigid.