Show threadStrypeyJul 3, 2024

"Governments that do not do these things fail. So: Regulation of a financial system. The availability of a reliable, independent system for adjudicating disputes--so, a judiciary. Stability of the currency. The ability to control the expansion of debt, to secure modest interest rates. The incapacity to provide the basic State function of controlling the border. And, the incapacity to keep order and enforce the laws."

#MichaelMunger, 2024

https://www.econtalk.org/does-market-failure-justify-government-intervention-with-michael-munger/

#podcasts #EconTalk #politics

Does Market Failure Justify Government Intervention? (with Michael Munger) - Econlib

Economics students are often taught that government should intervene when there is market failure. But what about government failure? Should we expect government intervention to outperform market outcomes? Listen as Duke University economist Michael Munger explores the history of how economists have thought about this dilemma and possible ways to find a third or even […]

Econlib
StrypeyJul 3, 2024

"... the usual separation between markets and politics, where markets are probably going to perform better than democracy in deciding how to allocate resources, was not only conceded by the Cambridge Welfare Economists: they anticipated Public Choice arguments by 60 or 70 years. They just had a different solution."

#MichaelMunger, 2024

https://www.econtalk.org/does-market-failure-justify-government-intervention-with-michael-munger/

#podcasts #EconTalk #economics #MarketFailure #PublicChoice

Does Market Failure Justify Government Intervention? (with Michael Munger) - Econlib

Economics students are often taught that government should intervene when there is market failure. But what about government failure? Should we expect government intervention to outperform market outcomes? Listen as Duke University economist Michael Munger explores the history of how economists have thought about this dilemma and possible ways to find a third or even […]

Econlib
tripuSep 14, 2020
“There is an inherent tendency in #capitalism towards cronyism, and democracy enhances it. That means that capitalism is not sustainable in a #democracy, and those of us who defend #markets need to take that part of the argument from the left seriously. #Cronyism is not the opposite of capitalism. It is something that capitalism turns into in a political system that allows #freedom, and we should be worried about that. We should credit that as legitimate #criticism.”

— #MichaelMunger, on the #FreeThoughts podcast

https://www.libertarianism.org/podcasts/free-thoughts/capitalism-and-its-critics
Capitalism and its Critics (with Mike Munger)

Michael Munger joins the show to talk about some common misconceptions of capitalism.