Game Theory in Economics: Good Addition or Bad? #840

The podcast discusses game theory and its use in analyzing games and strategies, including the Aradibro theorem and Nash equilibrium. It explores the implications of pursuing individual selfish interests in economics. The concept of positive versus normative theory is discussed, along with the compatibility of game theory and objectivism. The hosts defend capitalism on ethical grounds and caution against relying too heavily on game theory to describe human behavior.