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Don Boudreaux, Michael Munger, and Russ Roberts on Emergent Order

EconTalk

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The Problem With Explaining Markets

The way economics is taught misleads many people who might otherwise be persuaded. The problem with explaining markets is you have to make an additional step. All prices that are agreed on probably result from a disagreement about value. It's not like alum crystals. Some institution must now intervene in order to reconcile all these plans and purposes.

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