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Ep. 24 - Vernon Smith: Self-Interest Reconsidered

The Ralston College Podcast

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Markets Are the Most Misunderstood Thing in Economics

iwu, i would dig into this a little deeper. And i want to try and make these ideas as broadly accessible as we can. You know, when you say that markets, markets are the perhaps most misunderstood thing in economics to day. Let's just break that right down. What is a market? Cause i certainly find what you're saying to be true, that there'll be peles or te peol wo think that the market is a terrible thing and it's an evil thing. But they donot relly have much idea what a market even is. How would you ow, can you but al the terms at a market?"

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