The Power of Institutions
Peter and Russ discuss the role of institutions in economics, emphasizing the importance of self-interest and the invisible hand in a private property market economy. They highlight how institutions shape outcomes and challenge the misconception that Adam Smith believed all government was bad. The conversation also touches on the influence of Samuelsonian economics and the mainstream versus mainline approaches in the field.In this clip
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EconTalk
Peter Boettke on Living Economics
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