Money vs. Norms
Explore the impact of substituting money for social norms and the potential consequences it can have on behavior. Mary Hirschfeld discusses the example of a daycare center charging parents for being late and how it backfired, while Russ Roberts presents a counterargument, suggesting that a larger fine may have yielded different results. Dive into the debate surrounding the relationship between money and social norms.In this clip
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EconTalk
Mary Hirschfeld on Economics, Culture, and Aquinas and the Market
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