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Tagged with “economics:topic=markets” (3)
Bruce Yandle of Clemson University and George Mason University’s Mercatus Center looks at the tragedy of the commons and the various ways that people have avoided the overuse of resources that are held in common. Examples discussed include fisheries, roads, rivers and the air. Yandle talks with EconTalk host Russ Roberts about the historical use of norms, cooperative ventures such as incorporating a river, the common law, and top-down command-and-control regulation to reduce air and water pollution. From http://www.econtalk.org/archives/2007/10/yandle_on_the_t.html
Mike Munger of Duke University talks with EconTalk host Russ Roberts about the often-vilified middleman—someone who buys cheap, sells dear and does nothing to improve the product. Munger explains the economic function of arbitrage using a classic article about how prices emerged in a POW camp during World War II. Munger then applies the analysis to the financial crisis. From http://www.econtalk.org/archives/2008/10/munger_on_middl.html