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5min chapter
Coase, the Rules of the Game, and the Costs of Perfection (with Daisy Christodoulou)
EconTalk
The Complexities of Precision in Knowledge and Measurement
This chapter explores the intricacies of measurement in both physical sciences and less exact fields like language and sports. Through reflections on Lord Kelvin's quote and George Stigler's insights, it reveals how rigid regulations can complicate clarity rather than enhance understanding.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode