The Pursuit of Honest Profits
Michael explores the evolutionarily stable strategy of pursuing honest profits and the potential invasion of mutants in the game theory system. He emphasizes the importance of character and perpetuating norms in order to make the pursuit of honest profits a stable strategy. The discussion touches on the role of economics education and the tendency towards cronyism in the absence of moral values.In this clip
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EconTalk
Michael Munger on Crony Capitalism
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