Episode 145: Morality and Economics
Words & Numbers
00:00
The Role of Government in Markets
The author says markets are a decentralized form of government. Each individual can feed resources or deny resources to certain parts of the economy on the basis of what that person wants, he says. Adam Smith said it's not from benevolence of the butcher the brewer or the baker that we expect our dinner but from their regard to their own interest.
Transcript
Play full episode
