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140a. Political economy pt. I: The Social Order of the Underworld

Education Bookcast

CHAPTER

Ping Pong Is a Form of Trade

With norms you basically have people follow certain rules in society because it's understood that they're supposed to be followed and then breakers of those rules are punished in a decentralized way. With centralized punishment it is costly so with organizations like ping pong one need not refer to the government for governance but there needs to be some kind of enforcement of property rights around things like stealing tables.

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