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

Education Bookcast

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The Importance of Rationality in a Prison Setting

Good economic governance underlies and is the foundation of the entire system of specialization and the division of labor that exists in a market economy. Without it market failures proliferate okay so the reason why that's important in a prison context is because there is a lot of trade going on. The third function of governance institutions is to help people act collectively goods like national defense are difficult to produce privately because everyone enjoys their benefits once they exist.

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