53 min listen
Joel Waldfogel on Markets, Choice, and the Tyranny of the Market
FromEconTalk
ratings:
Length:
52 minutes
Released:
Nov 12, 2007
Format:
Podcast episode
Description
Joel Waldfogel of the Wharton School of Business talks about the idea in his new book, The Tyranny of Markets: Why You Can't Always Get What You Want. He argues that when fixed costs are large, markets don't necessarily give people what they want and that, analogous to the political process, you can be hurt as the number of people with preferences that differ from yours gets larger. Host Russ Roberts challenges Waldfogel's claim that these phenomena are widespread and argues that in many cases, markets ultimately solve these problems. They discuss the amount of variety in newspapers, radio, and airline travel, along with how economics generally looks at fixed costs and consumer sovereignty.
Released:
Nov 12, 2007
Format:
Podcast episode
Titles in the series (100)
Chris Anderson and the Long Tail: Russ Roberts talks with Chris Anderson of Wired Magazine about the ideas in his new book, The Long Tail. Topics include the weird world of internet distribution and production, the wonders of the Sears catalog of the 1890s, and the economics of choice. by EconTalk