Michael Munger on Exchange, Exploitation and Euvoluntary Transactions
EconTalk
00:00
What's the Best Alternative to the 23 for 2500?
In the case of Tony's taco truck, though, when I'm in the desert, the disparity in batonus is enormous. The fact that we make the transaction illegal means that there isn't any of it because you don't get the supply response. Even if it were a rich person whose Lexus was stuck in the snow and a poor person in a beat up car who pushes them out, I think there'd be a lot of cases where they'd turn the money down. In all these cases, whenever we talk as economist and non-economists about these sort of situations, I want to challenge you with a couple of examples in a minute.
Play episode from 28:47
Transcript
