Norms and Change
The discussion explores how local conditions and historical context shape different social norms and institutions, highlighting Hayek's insights on the complexity of efficiency. Michael emphasizes that while some norms evolve, others remain static, prompting questions about the implications of these changes. The conversation also touches on the challenge of discerning which changes are beneficial or detrimental to society.In this clip
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EconTalk
Michael Munger on Sports, Norms, Rules, and the Code
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