The Nature of Discrimination | The Aneesh Karve Series | Episode 3 (WiM212)
The "What is Money?" Show
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The Importance of Incentives
People following incentives, not laws, that is something very fundamental to human action. It just sort of undermines this whole notion of passing policy or legislation that creates an outcome. What is the cost of obtaining specific versus non-specific information and they'll act accordingly? And I'm just reminded here of how terrible central banking must actually be because it's actually distorting the metric by which we discriminate among various input costs.
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