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The Popperian Podcast #26 – Michael Munger – ‘The Calculus of Consent’
The Popperian Podcast
The Importance of Alternatives in the Economy
In the book, there's this big illusion between economics and politics. The question is, does that scale up? Does it work for anything other than bilateral voluntary exchanges? Yeah. And so exactly the question that you just asked led James Buchanan to come up with the justification for organizations that he called clubs. A club is something in between the bilateral contract between the roofer and the homeowner, and the political system.
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