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The Science and Art of Economics with Peter Boettke & Rosolino Candela, Pt. 2

Hayek Program Podcast

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'Simon's Basic Economics Gives Scope to Human Choice

Julian simon's basic economics gave scope to things that freedman's economics didn't allow. He gives scope to human choice by allowing the human being to not only discover the means, but also the ends as well. The auction system wouldn't work because there would be collusion,. right between individuals on the flight, and they would constantly bit up the price of a ticket. But we haven't observed that. Cause stigler argued that the the auction system wouldn’t work becausethere would be collusion, right between individuals  and they would constantlyBit up the price, making it prohibited prohibitively costly for clar air line. And so therefore, rite, if you

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