The Paradox of Market Defenders
Explore the paradox of how defenders of markets also acknowledge the prevalence of centralized organizations in allocating resources, despite not utilizing the power of prices. Michael Munger raises questions about the effectiveness of bosses and managers in comparison to government decision-making, while Russ Roberts reflects on the allocation of resources within organizations without relying on profitability or piecework.In this clip
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Michael Munger on the Nature of the Firm
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