205 | John Quiggin on Interest Rates and the Information Economy
Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas
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Exploring Market Justifications and Failures
This chapter examines the moral and philosophical dimensions of market pricing, questioning the existence of a 'just price' in a neoliberal economy. It highlights the complexities of human decision-making influenced by emotional factors, especially in unique transactions such as house-buying, and addresses the implications of market failures on critical issues like climate change and labor dynamics. Through discussions of irrational behaviors and evolving economic theories, the chapter illustrates the necessity for a deeper understanding of markets and their impact on society.
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