
No Free Lunch — Confronting Economic Fallacies with Peter Boettke & Caleb Fuller
Hayek Program Podcast
00:00
Is Simple Economies Simpleminded?
I want to push you on another line of research that you've done, just cause i think it's important for people to contemplate the idea that simple economics is not simple minded. And one of things that your work has demonstrated elsewhere is the trickiness of incentives. So basically making an argument about downward sloping de scarcity trade offs, downward sloping demand curves, doesn't mean you have simple minded answers to complex phenomena. You have to recognize the kiness of the incentive schemes that are involved and how they can go awry.
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