Is There a Crackpot Theory?

Richard McGaughy has written a book called, Unequal Cities. How cities are basically self-funded in the United States. And doesn't that create distortionary impacts like you're talking about there? Quickly before we go today, maybe it's a bit of a crackpot theory. Another conventional economics crackpot theory is the efficiency wage theory. Is there any sound basis to that?

Transcript

Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.