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3 episodes with market failure
3 episodes with market failure
2 episodes with market failure
3 episodes with market failure
2 episodes with market failure
2 episodes with market failure
2 episodes with market failure
// GUEST //Website: https://mises.org/Books: https://www.amazon.com/stores/author/B001IGOF0QArticles: https://www.lewrockwell.com/ // SPONSORS //The Farm at Okefenokee: https://okefarm.com/iCoin: https://icointechnology.com/breedloveHeart and Soil Supplements (use discount code BREEDLOVE): https://heartandsoil.co/In Wolf's Clothing: https://wolfnyc.com/Blockware Solutions: https://mining.blockwaresolutions.com/breedloveOn Ramp: https://onrampbitcoin.com/?grsf=breedloveMindlab Pro: https://www.mindlabpro.com/breedloveCoinbits: https://coinbits.app/breedlove // PRODUCTS I ENDORSE //Protect your mobile phone from SIM swap attacks: https://www.efani.com/breedloveNoble Protein (discount code BREEDLOVE for 15% off): https://nobleorigins.com/Lineage Provisions (use discount code BREEDLOVE): https://lineageprovisions.com/?ref=breedlove_22Colorado Craft Beef (use discount code BREEDLOVE): https://coloradocraftbeef.com/ // SUBSCRIBE TO THE CLIPS CHANNEL //https://www.youtube.com/@robertbreedloveclips2996/videos // OUTLINE //0:00 - WiM Episode Trailer1:37 - Tom's Journey to Becoming President of the “Mises Institute”6:15 - The Echo-chamber in Academia12:30 - The Demonization of Capitalism and the Evil of Money Printing 18:31 - WWI and Money Printing21:32 - The Farm at Okefenokee22:51 - iCoin Technology24:20 - The Corruption of Money and Individuals30:53 - Why do We Forget these Ideas? (Remove)36:39 - Art vs Propaganda (Rothbard vs Greenspan)40:39 - The Corruption of Money and Soul45:43 - Heart and Soil Supplements46:43 - Helping Lightning Startups with In Wolf's Clothing47:35 - Was Abraham Lincoln a Fraud?59:42 - Follow the Money, Find the Truth1:05:32 - The Mission of the Mises Institute1:09:43 - Why Mises?1:14:47 - Mine Bitcoin with Blockware Solutions1:16:09 - Onramp Bitcoin Custody1:17:32 - Econ101: Austrian vs Keynesian1:21:16 - What does Keynesianism get Wrong?1:27:13 - All Government Spending is Capital Misallocation 1:39:33 - Mind Lab Pro Supplements1:40:44 - Buy Bitcoin with Coinbits1:41:54 - Why is Sound Money So Important?1:47:57 - Money Printing is Mind Control1:52:18 - What would a Sound Money World Look like?1:54:58 - Bitcoin vs Gold2:00:54 - The Free Market and Market Failure2:07:30 - The Problem with Socialism2:13:36 - Playing with Fire: The Problem with the Federal Reserve2:17:52 - How to Connect with Tom // PODCAST //Podcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsERSS Feed: https://feeds.simplecast.com/MLdpYXYI // SUPPORT THIS CHANNEL //Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Sats via Strike: https://strike.me/breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://account.venmo.com/u/Robert-Breedlove-2
// GUEST // X: https://x.com/jimmysongBooks/Website: https://programmingbitcoin.com/Medium: https://jimmysong.medium.com/Instagram: https://www.instagram.com/jimmysong__officiallyLinkedIn: https://www.linkedin.com/in/jimmysong// SPONSORS // The Farm at Okefenokee: https://okefarm.com/ Heart and Soil Supplements (use discount code BREEDLOVE): https://heartandsoil.co/ In Wolf's Clothing: https://wolfnyc.com/ Tuttle Twins: http://angel.com/breedlove Mindlab Pro: https://www.mindlabpro.com/breedloveEmerge Dynamics: https://emergedynamics.com/breedlove // PRODUCTS I ENDORSE // Protect your mobile phone from SIM swap attacks: https://www.efani.com/breedlove Noble Protein (discount code BREEDLOVE for 15% off): https://nobleorigins.com/ The Bitcoin Advisor: https://content.thebitcoinadviser.com/breedlove Lineage Provisions (use discount code BREEDLOVE): https://lineageprovisions.com/?ref=breedlove_22 Colorado Craft Beef (use discount code BREEDLOVE): https://coloradocraftbeef.com/ // SUBSCRIBE TO THE CLIPS CHANNEL // https://www.youtube.com/@robertbreedloveclips2996/videos // OUTLINE // 0:00 - WiM Intro1:22 - The Case for Bitcoin Maximalism12:11 - What is Rent-Seeking?18:26 - The Problem of Political Authority28:34 - The Farm at Okefenokee29:53 - Heart and Soil Supplements30:53 - Helping Lightning Startups with In Wolf's Clothing31:45 - The Illusion of Political Authority36:51 - Mimetic Desire and Politics44:05 - The Moral Illusion of Political Authority50:04 - Alternatives to Political Authority54:29 - Tuttle Twins: Teaching Kids Critical Thinking 55:46 - Mind Lab Pro 56:55 - Kalshi 58:09 - Emerge Dynamics 59:13 - Decentralized Capitalism 1:07:17 - The Language Game in Politics 1:18:54 - Public Goods and Market Failure 1:26:19 - Utopianism vs Realism 1:39:41 - Bridging the Gap Between God and Science 1:45:28 - The Path Forward// PODCAST // Podcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?RSS Feed: https://feeds.simplecast.com/MLdpYXYI// SUPPORT THIS CHANNEL // Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://account.venmo.com/u/Robert-Breedlove-2The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101// WRITTEN WORK // Medium: https://breedlove22.medium.com/Substack: https://breedlove22.substack.com/ // SOCIAL // Breedlove Twitter: https://twitter.com/Breedlove22WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedin: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22All My Current Work: https://linktr.ee/robertbreedlove
Show host Gene Tunny responds to listener feedback about the private versus public sector's role in wealth creation, particularly addressing externalities like environmental harm and whether governments should fund facilities like Men's Sheds. He also explores the efficiency of the private sector compared to government spending.If you have any questions, comments, or suggestions for Gene, please email him at contact@economicsexplored.com or send a voice message via https://www.speakpipe.com/economicsexplored. Timestamps for EP254Introduction (0:00)Externalities and Market Efficiency (4:47)Government's Role in Addressing Externalities (11:30)Coase Theorem and Market Failures (19:43)Government Spending and Efficiency (26:31)Men's Sheds and Government Support (32:51)Scott Prasser's Critique of Government Spending (39:43)Balancing Government and Private Sector Roles (45:49)TakeawaysExternalities in Wealth Creation: Private markets can overlook externalities such as pollution or public health impacts, justifying government intervention in some cases.Incentives for Efficiency: Due to market competition, the private sector generally has stronger incentives for efficiency, while government projects typically lack the same discipline.Government Spending Criticism: Many government projects, particularly those done for political reasons, are inefficient and do not consistently deliver expected benefits.Cost-Benefit Analysis is Crucial: Government spending should be evaluated through cost-benefit analysis to avoid wasting public funds.Coase Theorem and Market Solutions: While private negotiation can theoretically resolve externalities (as per the Coase Theorem), it typically does not work in practice due to high transaction costs and imperfect information.Links relevant to the conversationRelevant previous episodes:Government vs Private Sector in Wealth Creation:https://economicsexplored.com/2024/07/05/government-vs-private-sector-who-generates-wealth-ep247/White Elephant Stampede:https://economicsexplored.com/2022/10/17/white-elephant-stampede-w-scott-prasser-ep161/Coase theorem paper - “Does the Coase theorem hold in real markets? An application to the negotiations between waterworks and farmers in Denmark”https://www.sciencedirect.com/science/article/pii/S0301479711003331Urbis review of Men's Sheds:https://www.health.gov.au/sites/default/files/documents/2022/01/review-of-support-for-the-men-s-shed-movement-current-state-report_0.pdfBeyond Blue Report on Men's Sheds:https://mensshed.org/wp-content/uploads/2022/05/Ultrafeed-beyondblue-Mens-Shed-in-Australia-Final-Executive-Report-2013.pdfLumo Coffee promotion10% of Lumo Coffee's Seriously Healthy Organic Coffee.Website: https://www.lumocoffee.com/10EXPLOREDPromo code: 10EXPLORED
Introduction to our 7th season: Capitalism. The world's dominant economic system is on trial as it hasn't been for at least half a century. Millions, young people especially, now see capitalism as the problem, not the solution. Others fear throwing out the baby with the bathwater. By John Biewen, with co-host Ellen McGirt. Interviews with John Fullerton, Cassandra Brooks and Charlene Brooks. Story editor: Loretta Williams. Music by Michelle Osis, Lilli Haydn, Alex Symcox, and Goodnight, Lucas. Music consulting by Joe Augustine of Narrative Music. Art by Gergo Varga and Harper Biewen. “Capitalism” is a production of the Kenan Institute for Ethics at Duke University, in partnership with Imperative 21.
Economics students are often taught that government should intervene when there is market failure. But what about government failure? Should we expect government intervention to outperform market outcomes? Listen as Duke University economist Michael Munger explores the history of how economists have thought about this dilemma and possible ways to find a third or even fourth option beyond government or markets.
Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: The Market Failure that Will Force Doctors to Keep Writing Opioid Prescriptions, published by mincho on June 8, 2024 on The Effective Altruism Forum. This is an article of mine from Recursive Adaptation. We are always looking for new collaborators as we expand our research and policy development! Excerpts The Problem Suzetrigine is a novel non-opioid, sodium channel painkiller with no addictive potential, from mid-size pharma company Vertex. It has shown positive results in Phase 3 and is being submitted to the FDA for approval by the end of 2024 or early 2025. Suzetrigine is roughly equivalent in pain reduction efficacy to Vicodin (hydrocodone / APAP), which is one of the most commonly prescribed opioids. We recently reviewed the efficacy and promise of suzetrigine in this article. There are other broad non-opioid painkillers in the pipelines of other companies that may arrive over the next few years. This is great news - can we start removing opioids from medical treatment to prevent patients from developing addictions? Unfortunately, there's a huge obstacle: like other new medications, insurance providers will not pay for suzetrigine unless a doctor can show that a patient has tried a cheaper generic drug first and it was ineffective. And the cheaper generics for pain are opioids. Next year, as tens of millions of Americans are getting teeth pulled, having surgeries, and suffering from chronic nerve pain, they will needlessly receive opioid prescriptions while a much safer alternative sits on the shelf waiting for its patent to expire a decade from now. About 3-6% of those patients who are prescribed opioids will become dependent, generating millions of completely avoidable new opioid addictions every year ( 1, 2, 3). Non-patients will become addicted too, as many opioid addictions begin with prescriptions that were diverted from the original patient to someone else- leftover pills given to friends or discovered in a medicine cabinet. Proposed Solution Let's make a wild guess and say that Vertex expects to earn $100 million from suzetrigine in the US next year as a second-line treatment. That $100 million cost is already being borne by the public - through insurance premiums, taxes for Medicare and Medicaid, etc. Instead, if the federal government can step in and offer Vertex $120 million in exchange for making suzetrigine available at generic prices, that would be a win for everyone - Vertex would make more money and remain incentivized to develop safer pain treatments and the public would pay only an extra 20% to get the drug to 5X or 10X or 20X as many people. The result is that those patients are safer, addictions are avoided, and huge downstream costs from addiction are saved. Meanwhile, over the next few years, more non-opioid painkillers are expected to become available from other companies and once this arrangement is established, similar deals can be negotiated and renegotiated depending on market conditions. This should be an obvious public health win. We should not be willing to accept a single day where suzetrigine is FDA approved but is being denied by insurance companies, forcing doctors to prescribe unnecessary opioids. (More details of how this could be implemented are in the article) Thanks for listening. To help us out with The Nonlinear Library or to learn more, please visit nonlinear.org
Is Open Source Software (OSS) a market failure? What does OSS add to the market that cannot be accomplished in other ways? What happened to the F (Free)? Join us for this roundtable episode of the Hedge.
In this episode Mrs B interviews DJ about Market Failure to help the Year 11s get ready for Task 3 :)
#SCALAREPORT: #PRC managers fear reporting market .failure and so they must fail. Chris Riegel, CEO Scala.com #STRATACACHE https://www.zerohedge.com/geopolitical/ccp-tightens-exit-controls-amid-sharp-increase-citizens-fleeing-china Wuhan 1927
We recently dealt with frustrations concerning purchases of appliances for our daughter. We were ghosted by the big box store, the manufacturer, the Better Business Bureau, and even consumer reports. We finally discovered a YouTube video revealing a scam by appliance manufacturers.The free market is still the best way to handle problems Instead of relying on government. However, the marketplace does change and we consumers need to stay alert.Follow Us:YouTubeTwitterFacebookTumblrAll audio & videos edited by: Jay Prescott Videography
In this episode Samo Burja and Erik Torenberg discuss AstraZeneca, Novo Nordisk, and big pharma's dysfunction despite its enormous economic power, incentives behind scientific breakthroughs and the potential for improvement and changing the FDA's approval processes. Head to https://brave.com/brave-ads/ and mention “MoZ” when signing up for a 25% discount on your first campaign. Live Players is part of the Turpentine podcast network. Learn more: https://www.turpentine.co/ — RECOMMENDED PODCAST: History 102 with WhatifAltHist Every week, creator of WhatifAltHist Rudyard Lynch and Erik Torenberg cover a major topic in history in depth -- in under an hour. This season will cover classical Greece, early America, the Vikings, medieval Islam, ancient China, the fall of the Roman Empire, and more. Subscribe on Spotify: https://open.spotify.com/show/36Kqo3BMMUBGTDo1IEYihm Apple: https://podcasts.apple.com/us/podcast/history-102-with-whatifalthists-rudyard-lynch-and/id1730633913 YouTube: https://www.youtube.com/@History102-qg5oj — New podcast: Thesis Driven Leader Series - Brad Hargreaves interviews the leading voices at the intersection of real estate, cities, innovation and technology. Apple: https://podcasts.apple.com/us/podcast/thesis-driven-leader-series/id1724813949 Spotify: https://open.spotify.com/show/2HY9OJ7WvoDzPaodgaHw6A Substack: https://www.thesisdriven.com/podcast — We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: https://eriktorenberg.com/. — SPONSOR: BRAVE Get first-party targeting with Brave's private ad platform: cookieless and future proof ad formats for all your business needs. Performance meets privacy. Head to https://brave.com/brave-ads/ and mention “MoZ” when signing up for a 25% discount on your first campaign. — LINKS: Samo's Bismarck Brief: https://brief.bismarckanalysis.com/ — TIMESTAMPS: (00:00) Intro (00:28) Discussion on AstraZeneca and Pharmaceutical Innovation (00:41) The Economic Giant: Pharmaceutical Industry (01:20) AstraZeneca's Market Capitalization and COVID-19 Vaccines (02:13) Strategies of Modern Pharmaceutical Giants (04:08) The Exception to the Industry: Novo Nordisk (06:31) Disconnects Between Profitability and Innovation (08:41) Market Failure in Pharmaceutical Industry (08:50) The Role of Patent System in Pharmaceutical Industry (15:17) The Need for Scientifically Minded Founders (30:34) Sponsor: Brave (31:34) The Role of FDA in Pharmaceutical Industry (39:16) The Impact of Managerial Approach on Pharmaceutical Industry (41:59) The Potential Impact of a Beauty Boom
Picking up where we left off with Owen Barder, Jim digs deeper into how tech enters the discussion, in particular what Precision Development has been doing to tackle major sustainable agriculture challenges in developing countries. Key topics: When to do AB testing (à la Facebook) vs. a full-blown Randomized Control Trial (the typical government approach); the fact that data helps flag a problem, but you still need to dig deeper to understand exactly what that problem is; and the fact that farmers today, especially in developing countries, are operating under more uncertainty than they need to. > Transcript on website RATE, WRITE, SUBSCRIBE Be sure to leave us a rating on Spotify or a review on Apple Podcasts! Wicked problems require more than one line of thought — was there anything you agreed or disagreed with? Anything you'd like us to explore further? Write us a note at podcast@techmatters.org and follow us on LinkedIn!
Throughout Owen's journey, one central question has been: How do you navigate market failure, especially when the stakes are sky-high? The typical choice between government intervention vs. private investment vs. third sector solutions often can't cut it. Owen and innovators like him don't have all the answers, but are able operate at the highest institutional level, crafting and implementing new models that go beyond a single ideology in order to tackle some of the most formidable global economic challenges. With a distinguished career as a civil servant in the UK Treasury, the UK Department of International Development, private secretary to the Prime Minister, and Vice President of the Center for Global Development, Owen Barder has worn many hats. As if that's not impressive enough, he's also the CEO of Precision Development, a nonprofit on a mission to bring tailored data and services to smallholder farmers in developing countries, fostering economically and ecologically sustainable practices. > Transcript on website RATE, WRITE, SUBSCRIBE If you like what you hear, leave us a 5 star rating on Spotify or a review on Apple Podcasts! Wicked problems require more than one line of thought. Was there anything you agreed or disagreed with? Anything you'd like us to explore further? Write us a note at podcast@techmatters.org and follow us on LinkedIn!
Why is it that the market which was set out to save us, is now failing to meet its growth potential? AutoLooks takes a look at the how and why the EV market is retracting now and when it may return to its original growth volumes. Everett J. #autolooks
Watch this week's full bonus episode "Is it Wrong to Hit a Smaller Man?" and outtakes by becoming a community member at https://www.youtube.com/c/WavingtheRedFlag/join or https://patreon.com/wavingtheredflag Ep 194 | This week them boys pontificate: 0:00 Preview 4:20 Cheesecake trauma 8:15 Fried chicken Hall of Fame 10:14 Why can't men get cozy?? 12:32 The tactical advantages of having that dick out 14:34 Cheesecake Factory Psy Op conspiracy uncovered 26:17 how much effort on first date 34:54 The current cost of living crisis 46:26 WORKING 9 to 5 is too much for GEN Z?? 59:31 Non-Livable wage should not exist 1:06:01 Bitcoin pizza revisited Shout out @loudaboutnothing @ElizabethPlank @WeAreManEnough @AntiWorkGirlboss Bonus ep - https://youtube.com/live/cvUdusQnesI Follow at https://instagram.com/wavingtheredflag Follow at https://twitter.com/wavintheredflag Follow at https://www.tiktok.com/@wavingtheredflagpodcast
Ted Livingston joins us to discuss how to build consumer crypto products that solve problems users actually care about. In 2009, Ted founded Kik, which grew to over 300M users and led the way for today's messaging apps. Ted is now working on Code, a Solana-based payments app that makes it easy to pay anyone, anywhere in the world. In this episode, we cover Ted's learnings from building Kik, why Kik launched Kin and built on Solana, why stablecoins aren't crypto's answer, what the crypto industry got wrong, why Code could be crypto's first mainstream app and more! - - Timestamps (00:00) Introduction (01:01) Building Kik: One of the Fastest Growing Apps in History (08:22) Crypto as a New Business Model (12:03) Why Build on Solana? (19:57) Code's Design + Live Demo (23:43) Jito Plug (24:46) Kin: Why Stablecoins Aren't the Answer (30:00) How to Cultivate Unique Ideas (34:43) Focusing on Narratives vs Products (37:05) Crypto's Go-to-Market Failure (40:02) Why Ted's Still in Crypto (42:15) Thoughts on Social and Stablecoins (46:07) What Crypto Uniquely Enables (51:21) How to Attract New Users (58:06) Rapid Fire - - This episode is brought to you by Jito. Jito is the easiest way to earn MEV rewards on Solana with liquid staking. Stake your SOL with Jito to start earning high yield powered by MEV and access instant liquidity through Jito's liquid staking token JitoSOL so that you can use your staked assets across Solana DeFi. Visit jito.network to get started today! - - Follow Ted: https://twitter.com/ted_livingston Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Use code LIGHTSPEED30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 - - Resources Code https://www.getcode.com/ https://twitter.com/getcode - - Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.
This episode features a conversation between Phil Dillard, Founder of Thruline Networks, and Dan Kurzrock, CEO and Co-Founder at Upcycled Foods Inc. and ReGrained.Upcycled Foods, Inc. powers the B2B upcycled food economy with product development expertise, cutting-edge technology, and a growing portfolio of ingredient solutions. With its innovation hub – the Upcycled Food Lab – the company leads the way for food makers as the go-to development partner.With a mission to better align the food we eat with the planet and people we love, ReGrained is an upcycled ingredient company and innovation partner that works with great companies to close the loop with better foods for you and the planet. As you can tell, Dan spends most of his time championing upcycled food and the circular economy. Outside of that, you can find him conducting part-time gravity research on a mountain, nerding out with great books, or jamming to great tunes.In this episode, Dan talks about the importance of upcycling food, regenerative agriculture, and the circular economy.—Guest Quotes“For the first few years, there was a lot of awareness building around what food waste is, what upcycling is. I used to give a lot of talks at places like industry trade shows and used to have the room raise their hand if they've heard of upcycling. There used to be like one or two people in the audience. Now, it's almost everybody.” - Dan KurzrockEpisode Timestamps(01:59) Dan's vision at Upcycled Foods(06:56) Product life cycles and supply chain(10:24) Dan's background and path to entrepreneurship(18:05) Creating a patent and expanding the startup(24:52) Enabling innovation for B2B customers(29:50) Measuring impact over time(37:21) The future for Upcycled FoodsLinksDan Kurzrock's LinkedInUpcycled Foods IncPhil Dillard's LinkedInThruline Networks
In this episode Mrs B interviews DJ about the new investigation format for assessment, market efficiency and market failure :)
Hurdling Towards Market Failure
Anyone who has tried shopping for day care knows that it is tough out there.For one, it is hard even to get your hands on information about costs, either online or over the phone – day cares will often only share their prices after you have taken a tour of their facilities. Even once you find a place you like, many day cares have waitlists stretching 6 months, 9 months, a year.Waitlists are a classic economic sign that something isn't right, that prices are too low. But ask any parent and they will tell you that prices for day cares are actually too high. According to a recent report from the U.S. Treasury, more than 60% of families can't afford the full cost of high quality day care. Meanwhile, day care owners can barely afford to stay open. No one is happy.On today's show, we get into the very weird, very broken market for day care. We will try to understand how this market can simultaneously strain parents' budgets and underpay its workers. And we will look at a few possible solutions.This show was produced by Sam Yellowhorse Kesler. Emma Peaslee helped book the show. It was mastered by Gilly Moon. Keith Romer edited this episode. Jess Jiang is our acting Executive Producer. Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
In this week's podcast The New Zealand Initiative's chief economist, Dr Eric Crampton, chats with Christian van der Pump about building regulations, fire safety and the causes of 'market failure' in the building industry. Christian van der Pump is a professional engineer with qualifications in chemistry, engineering and economics. He is doing a PhD in market failure in the construction industry across Australasia. You can read Christian's 12 December 2022 opinion article on the causes of 'market failure' in the building industry here: https://www.stuff.co.nz/opinion/130812601/the-causes-of-market-failure-in--the-building-industry
Nathan Stephens narrates his blog written for Dementia Researcher. Dementia is rarely considered a market issue, well at least not explicitly. Yet the unequitable distribution of care and support, cost of care and unpaid care, and inequality of information are symptoms of a ‘failed market'. This is according to the Treasury's Green Book which identifies four domains of market failure: under-provision of public goods/services, imperfect information about goods/services, externalities, and market or monopoly power. In this blog Nathan discusses the issues. Find the original text, and narration here on our website. https://www.dementiaresearcher.nihr.ac.uk/guest-blog-addressing-market-failure-why-we-cant-let-the-market-win/ -- Nathan Stephens is a PhD Student and unpaid carer, working on his PhD at University of Worcester, studying the Worcestershire Meeting Centres Community Support Programme. Inspired by caring for both grandparents and personal experience of dementia, Nathan has gone from a BSc in Sports & Physical Education, an MSc in Public Health, and now working on his PhD. -- Enjoy listening? We're always looking for new bloggers, drop us a line. http://www.dementiaresearcher.nihr.ac.uk This podcast is brought to you in association with Alzheimer's Research UK and Alzheimer's Society, who we thank for their ongoing support.
It's clear, when energy becomes short in supply, free market forces can't look after all of society. Just the wealthy. That's why governments are having to step in, propping up an industry that is raking in massive profits. But could free market forces drive a more efficient delivery of energy, by making lower cost renewable energy able to compete on a more level playing field. Whilst there's no doubt pricing is distorted in favour of fossil fuel provides, Steve tells Phil there's still no option but to nationalise the provision of energy, something we know will never happen. Hosted on Acast. See acast.com/privacy for more information.
Jess and Stephen find out why the British Film Institute says the UK's independent film sector is being strained to the point of market failure, and why the cinema chain Vue's lenders are taking over the company in a £1bn deal. Follow the show on Twitter @SMTM_podcast Follow Jess on Twitter @JessieRobinson Follow Stephen on Twitter @StephenFollows If you have a question you'd like answered on the show, email showmethemoneypod@gmail.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Allen Farrington (author and professional investor) joins me on the show to talk about Austrian economics, Capital & DeFi Yield: Austrian economics and Bitcoin Where does the 2% inflation target come from? The world Bitcoin will enable Altcoin DeFi yield: where does it come from? Bitcoin price and market depth Links: Twitter: @allenf32 Bitcoin is Venice book Only The Strong Survive Mentioned Mises.org article: The Origins of the 2 Percent Inflation Target Bob Murphy's article in response to ‘sticky wages' criticism: Are "Sticky Wages" a Market Failure? Related episode: SLP311 Bitcoin: Only The Strong Survive – with Big Al Sponsors Swan Bitcoin Braiins.com Voltage Unchained Capital (code LIVERA) CoinKite.com(code LIVERA) Stephan Livera links: Show notes and website Follow me on Twitter @stephanlivera Subscribe to the podcast Patreon @stephanlivera
Property and Freedom Podcast, Episode 162. This talk is from the 2016 meeting of the Property and Freedom Society. Walter Block (USA), “Market Failure” – Fact or Fiction? PFS 2016 Playlist.
Was today a real failure with fresh lows on the horizon?We'll discuss all the details including a variety of charts and markets.The analysis found in these videos is appropriate for both beginning Traders and experienced Traders alike.We look at only technical analysis using charts from various time frames using various vehicles. We use only the Candlestick charts and moving averages to determine our next best case scenario. See acast.com/privacy for privacy and opt-out information.
The National Energy Market failed this week, so we invited Western Australian energy expert Katharine McKenzie on to get her thoughts. Katherine runs an energy consultancy after years working for the West Australian government on energy policy, including decisions not to join the National Energy Market.View the presentation slides here:https://nucleuswealth.com/wp-content/uploads/2022/06/Australian-electricity-meltdown.pptx.pdfThere are effectively 3 energy markets in Australia:* Western Australia where wholesale prices averaged $68/MWh over the last week.* Northern Territory where wholesale prices are around $70/MWh* The rest of Australia where wholesale prices were fixed at $300/MWh because they were spiking into the thousands and then the AEMO had to step in to force productionTo listen in podcast form click here: https://nucleuswealth.com/podcasts/?utm_source=youtube&utm_medium=direct&utm_campaign=podcastGet an obligation-free portfolio recommendation to see how we would invest for you: https://portal.nucleuswealth.com/register/?utm_source=youtube&utm_medium=direct&utm_campaign=podcastLearn more about the hosts: https://nucleuswealth.com/people/?utm_source=youtube&utm_medium=direct&utm_campaign=podcastFind us on social media: https://www.facebook.com/NucleusWealthhttps://twitter.com/NucleusWealthhttps://www.linkedin.com/company/nucleuswealth/Nucleus Wealth is an Australian Investment & Superannuation fund that can help you reach your financial goals through transparent, low cost, ethically tailored portfolios. To find out more head to https://nucleuswealth.com/The information on this podcast contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Damien Klassen is an authorised representative of Nucleus Wealth Management. Nucleus Wealth is a business name of Nucleus Wealth Management Pty Ltd (ABN 54 614 386 266 ) and is a Corporate Authorised Representative of Nucleus Advice Pty Ltd - AFSL 515796
Prime Minister Anthony Albanese, says the suspension of the National Electricity Market is a direct result of the Coalition Government's policy deadlocks and failure to invest in the grid. He says lessons will be learned from the energy crisis and policy adjustments made where necessary.
AEMO is now warning that five states face power shortages, SA Premier Peter Malinauskas says that the current crisis has shown that the nations market structure is broken. He says repeated policy failures have compromised the nation and that SA will pursue state owned generation via what he says will be the world's largest hydrogen-electrolyser.
Both the economy and the energy markets are proving to be a challenging mix for the new Labor Government. The chief political correspondent with The Financial Review, Phil Coorey, joins RN Breakfast to discuss the latest developments in federal politics.
This episode was recorded on October 12, 2021 Dr. Glenn Loury and I discuss the Pareto principle, the economics of inequality, PC culture, climate change, race in America, IQ and The Bell Curve, intelligence vs. wisdom, AA meetings, Christianity, and more. Dr. Glenn Loury is an American economist, academic, and author. In 1982, he became the first African American tenured professor of economics at Harvard. Among Dr. Loury's published works are The Anatomy of Racial Inequality and Race, Incarceration, & American Values. He was elected president of the Eastern Economics Association in 2013 and received the Bradley Prize in 2022. ___________ Links ___________ Dr. Loury's substack: http://glennloury.substack.com The Glenn Show: https://youtube.com/channel/UCuEhthcgt1AImOzXPYsMzeQ The Anatomy of Racial Inequality: https://amazon.com/Anatomy-Racial-Inequality-Preface-Lectures/dp/0674260465/ref=asc_df_0674260465/?tag=hyprod-20&linkCode=df0&hvadid=519487730108&hvpos=&hvnetw=g&hvrand=770218243983853108&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9019578&hvtargid=pla-1454356324992&psc=1 Race, Incarceration, and American Values: https://amazon.com/gp/product/B08BT4WHFG/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i2 ___________ Chapters ___________ [0:00] Intro [01:23] Dr. Loury's Career [04:38] The Pareto Principle [10:51] Market Failure & Climate Change [11:57] The G Factor (general intelligence factor) [13:45] Why Stephen Jay Gould Is Wrong [17:01] Neuroticism & Divorce [26:06] Race & Incarceration in the US [36:16] Culture & Biology [38:09] The 80/20 Principle [47:20] Openness & Entrepreneurs [49:21] Meaningful Work & Inequality [56:35:] The Bell Curve [01:01:09] Political Correctness around IQ [01:14:58] Dr. Loury's (Shifting) Political Views [01:21:09] Drug Addiction & Spiritual Transformation [01:27:10] Intelligence vs. Wisdom [01:30:16] The Glenn Show [01:35:40] George Floyd Learn more about your ad choices. Visit podcastchoices.com/adchoices
What does the market failure mean for the near term?We'll discuss all the details including a variety of charts and markets.The analysis found in these videos is appropriate for both beginning Traders and experienced Traders alike.We look at only technical analysis using charts from various time frames using various vehicles. We use only the Candlestick charts and moving averages to determine our next best case scenario. See acast.com/privacy for privacy and opt-out information.
Housing policy in America is inextricably linked with employment opportunities, small business ventures, education access, and a host of other issues that directly impact economic opportunity. Understanding the history of low income housing in America is key to understanding and reimagining housing policy today. On this episode of Hardly Working, I am joined by Howard Husock to discuss his new book, The Poor Side of Town and Why We Need It. The book lays out a history of American housing policy and a thesis on how low-income housing that allows for private ownership can serve as a gateway to upward mobility, rather than the concentrated and intergenerational poverty that characterizes low-income housing today. Husock is a senior fellow at the American Enterprise Institute where he focuses on urban housing policy, civil society, and municipal government. He has held positions at the Manhattan Institute, the Harvard Kennedy School, and has worked as Emmy-winning documentary filmmaker. We discuss the history of low income residencies in America, the loss of social capital in low income neighborhoods, how much of this is due to public policy interventions, and solutions to rethink housing policy. You can find Howard's book on the AEI website. I hope you enjoy the conversation. Mentioned During the Show https://www.aei.org/research-products/book/the-poor-side-of-town-and-why-we-need-it/ (The Poor Side of Town and Why We Need It) https://spia.princeton.edu/ (Princeton School of Public and International Affairs) https://www.amazon.com/Unheavenly-City-Nature-Future-Crisis/dp/B000K0AZGO (Edward Banfield: The Unheavenly City) https://www.simonandschuster.com/books/How-the-Other-Half-Lives/Jacob-A-Riis/9781625584250 (Jacob Riis: How the Other Half Lives) https://www.econlib.org/library/Topics/College/marketfailures.html (Market Failure) https://www.amazon.com/Modern-Housing-Catherine-Bauer/dp/1517909066 (Catherine Bauser: Modern Housing) https://www.brooklinema.gov/264/Town-Meeting (Brookline, Mass. Town Meeting) https://www.investopedia.com/terms/z/zoning-ordinance.asp#:~:text=A%20zoning%20ordinance%20is%20a,and%20the%20height%20of%20structures. (Zoning) https://www.oregonmetro.gov/urban-growth-boundary-maps (Portland Urban Growth Boundary) https://www.pps.org/article/jjacobs-2 (Jane Jacobs Bio) https://www.amazon.com/Death-Life-Great-American-Cities/dp/067974195X (Jane Jacobs: Death and Life of American Cities) https://www.amazon.com/Economy-Cities-Jane-Jacobs/dp/039470584X#:~:text=the%20Back%20Cover-,%22The%20Economy%20of%20Cities%20is%20an%20astonishing%20book.,should%20prove%20of%20major%20importance.%22&text=New%20York%20Times-,%22This%20book%20is%20radiant%20with%20ideas%20about%20what%20makes%20cities,city%20growth%20affects%20national%20economies.%22 (Jane Jacobs: The Economy of Cities) https://www.amazon.com/Cities-Wealth-Nations-Principles-Economic/dp/0394729110 (Jane Jacobs: Cities and the Wealth of Nations) https://www.smartcitiesdive.com/ex/sustainablecitiescollective/urban-designer-series-robert-moses/54826/ (Robert Moses (housing projects)) https://www.idealist.org/en/days/what-is-a-mutual-aid-network (Mutual aid definition) https://www.deturbanleague.org/ (Detroit Urban League) https://www.banking.senate.gov/imo/media/doc/Husock%20Testimony%204-13-21.pdf (Howard's Senate Banking Committee Testimony) https://scholar.harvard.edu/hendren/publications/effects-exposure-better-neighborhoods-children-new-evidence-moving-opportunity#:~:text=The%20Moving%20to%20Opportunity%20(MTO,administrative%20data%20from%20tax%20returns. (Raj Chetty Moving to Opportunity Study) https://www.hks.harvard.edu/publications/moving-opportunity-and-tranquility-neighborhood-effects-adult-economic-self (Jeff Liebman Moving to Opportunity Study)
Property and Freedom Podcast, Episode 021. [n.b. The current track has been improved with auto-processing; better audio track in preparation, with manually done tweaking… will replace the current track when ready.] This lecture is from the 2008 meeting of the Property and Freedom Society: “Is the Existence of the State Proof of Market Failure?”, by […]
Property and Freedom Podcast, Episode 021. [n.b. The current track has been improved with auto-processing; better audio track in preparation, with manually done tweaking… will replace the current track when ready.] This lecture is from the 2008 meeting of the Property and Freedom Society: “Is the Existence of the State Proof of Market Failure?”, by […]
There are millions of people that are highly frustrated in the high-risk, unreliable stock market right now. Many investors are left wondering if their money would be safer and produce higher returns if it were in real estate. Kris Krohn is joined by investors Trevor and Alena to discuss their experiences in the stock market and divulge how differently things have played out after making the decision to start investing in real estate.
This time on Tony's Political Ramblings, we delve into the possibility of using the systems, theoretical frameworks and laws in place to push for a more equitable society.
Ray explains what “market failure” is, while also warning about “government failure.”Keating has three new books out and another on the way. Vatican Shadows: A Pastor Stephen Grant Novel is the 13th thriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. Past Lives: A Pastor Stephen Grant Short Story is the 14th book in the series. Get the paperback or Kindle edition at Amazon, or signed book at www.raykeatingonline.com. And order the 15th book in the series What's Lost? A Pastor Stephen Grant Short Story.Order Ray Keating's book Behind Enemy Lines: Conservative Communiques from Left-Wing New York – signed books or at Amazon. And one of Keating's newest books on the economy is Free Trade Rocks! 10 Points on International Trade Everyone Should Know, which is available at Amazon in paperback or for the Kindle edition, and signed books at www.raykeatingonline.com. Read Keating's latest columns on a wide range of issues at www.KeatingFiles.com. Check out Ray's other podcasts – the PRESS CLUB C Podcast and the Daily Dose of Disney.Sign up for Ray Keating's email list at www.raykeatingonline.com/contact.Love Ray Keating's Pastor Stephen Grant Thrillers and Mysteries? It's the Perfect Time to Join the Pastor Stephen Grant Fellowship! For the BEST VALUE, Join the Book of the Month Club. Check it all out at https://www.patreon.com/pastorstephengrantfellowshipCheck out www.DisneyBizJournal.com.Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.
Hey everyone, In todays episode I covered market failure, and reasons for markets to fail. This is the first episode of the three part series of market failure and externalities. Let me know what you think! Feel free to DM me any requests for topics and content on Instagram @aleveleconomicschronicles. Thank you once again for joining me on my journey.
On this episode of More Than Profit, Bryce talks with Candice Matthews Brackeen, founder of Lightship Capital. As a business consultant, she has spent her professional career building community and seizing opportunities to promote growth. She discovered that black founders were underfunded, with only 0.67% venture-backed, so she began Lightship Capital to fund startups led by BIPOC, women, LGBTQ+, and people with disabilities. She and Bryce discuss creating an inclusive community within the marketplace and the value of having a holistic approach to consulting and investing. Candice describes the importance of getting to know the background and culture of each founder. Learn more on this episode of More Than Profit, Attacking a Market Failure with Candice Matthews Brackeen. Learn more about our work at Access Ventures.
The New Zealand Government has announced a raft of new measures to address the current price boom, and to tilt the playing field away from “speculators” a.k.a “investors” towards first time buyers. We look at the measures, and also ponder on whether we need something similar in Australia. Go to the Walk The World Universe … Continue reading "New Zealand Intervenes To Address “The Property Market Failure” [Podcast]"
Lobo Tiggre of http://IndependentSpeculator.com says the markets are currently making a mistake about gold. He is bullish on gold and sees the market correcting to the upside in gold and silver later this year. Miles Franklin: Call us: 1-800-822-8080 Email us: info@milesfranklin.com
Every Saturday at 1 PM ET, Ana Kasparian and Nando Vila broadcast live from the Jacobin YouTube channel. Weekends features free-flowing and humorous commentary on current events and political strategy. This is the podcast version of the show from February 20, 2021. In this episode, Ana Kasparian, Nando Vila, and Cale Brooks discuss the calls for a new "9/11-style commission" to investigate the Capitol riots, the free-market energy failure in Texas, and Governor Andrew Cuomo's COVID coverup in New York nursing homes. The original guest, Liz Bruenig, had to reschedule. Join the Verso book club: https://www.versobooks.com/bookclub Subscribe to Jacobin for just $10: https://jacobinmag.com/subscribe/?cod... Music provided by Zonkey: https://linktr.ee/zonkey
Katie Kempen, CEO of the Independent Custody Visitors Association, discusses her organisation's work, the impact of Covid on police custody, market failures and how running a not-for-profit affects the way she runs the accounts and financial reporting. You can find out more about ICVA here: https://icva.org.uk/ Or on twitter: https://twitter.com/CustodyVisiting
Your oil industry briefing for the week of November 30 is up. In this episode, we looked at missed opportunities resulting from the failure of imagination. Hosted on Acast. See acast.com/privacy for more information.
Future-Proofing Media Freedom, the new mini-series on the Undercurrents podcast feed, is a collaboration between Chatham House, Luminate, and the International Center for Journalists. Presented by Ben Horton, host of the Undercurrents podcast, and Dr Julie Posetti, Global Director of Research at the ICFJ, the series explores the challenges facing public interest media in the 21st century and highlights how a range of actors are seeking to tackle them. The rise of the major social media platforms and the internet-driven proliferation of news and analysis which is free at the point of delivery, has fundamentally undermined traditional media business models. From the controversies over the BBC licence fee model, to the slow death of local news outlets, the economic strain has rarely felt more pressing. Beyond advertising and subscription business models, what solutions exist to ensure the survival of independent media organisations? To answer this question, Ben and Julie are joined by Joyce Barnathan (President of the International Center for Journalists), Nishant Lalwani (Managing Director of Luminate) and Renata Rizzi (founder and strategy lead of Nexo, a Sao Paolo-based news start-up). Credits: Speakers: Joyce Barnathan, Nishant Lalwani, Renata Rizzi Hosts: Ben Horton, Julie Posetti Editor: Jamie Reed Recorded and produced by Chatham House. Find out more: Chatham House: https://www.chathamhouse.org/ Luminate: https://luminategroup.com/ International Center for Journalists: https://www.icfj.org/
Future-Proofing Media Freedom, the new mini-series on the Undercurrents podcast feed, is a collaboration between Chatham House, Luminate, and the International Center for Journalists. Presented by Ben Horton, host of the Undercurrents podcast, and Dr Julie Posetti, Global Director of Research at the ICFJ, the series explores the challenges facing public interest media in the 21st century and highlights how a range of actors are seeking to tackle them. The rise of the major social media platforms and the internet-driven proliferation of news and analysis which is free at the point of delivery, has fundamentally undermined traditional media business models. From the controversies over the BBC licence fee model, to the slow death of local news outlets, the economic strain has rarely felt more pressing. Beyond advertising and subscription business models, what solutions exist to ensure the survival of independent media organisations? To answer this question, Ben and Julie are joined by Joyce Barnathan (President of the International Center for Journalists), Nishant Lalwani (Managing Director of Luminate) and Renata Rizzi (founder and strategy lead of Nexo, a Sao Paolo-based news start-up). Credits: Speakers: Joyce Barnathan, Nishant Lalwani, Renata Rizzi Hosts: Ben Horton, Julie Posetti Editor: Jamie Reed Recorded and produced by Chatham House. Find out more: Chatham House: https://www.chathamhouse.org/ Luminate: https://luminategroup.com/ International Center for Journalists: https://www.icfj.org/
It is critical that governments apply a meaningful carbon price. But if we are to move money at the pace and scale required to deal with climate risk, governments also need to reconsider the entire architecture of markets. This means focussing a climate lens on prudential regulation, listing rules, accounting standards, investment standards, valuation conventions, governance codes, and stewardship codes – as well as building on new interpretations of legal fiduciary duty, such as those set forth by the UK Government. In this webinar, Steve will outline how we might collectively make use of the combination of COP26 and the UK-hosted G7 in 2021 to move this important work forward. Speaker: Steve Waygood chairs the ESG Senior Leadership Team at Aviva Investors, and is a member of the CIO Investment Committee. Steve founded Aviva Investors' Sustainable Finance Centre for Excellence. This Centre seeks to transform capital markets so that they support long term sustainable development. He also co-founded the Corporate Human Rights Benchmark, the World Benchmarking Alliance, the UN Sustainable Stock Exchange Initiative and the Corporate Sustainability Reporting Coalition. He was also part of the group that helped write the Principles for Responsible Investment. Steve was appointed to the European Commission High-Level Expert Group on Sustainable Finance, and the UK Green Finance Taskforce, and is also a member of the Financial Stability Board Taskforce on Climate Related Financial Disclosure (TCFD). Steve started his career at the World Wide Fund for Nature in 1995, where he chaired the business and industry core group and oversaw the ethical investment policy. He also served on the board of the UK Sustainable Investment & Finance association (UKSIF) from 2003 to 2010, serving as its Chairman from 2006. Interested in watching our webinars live, or taking part in the production of our research? Join our community at: https://bit.ly/3sXPpb5
Recorded at the Mises Institute in Auburn, Alabama, on 17 July 2020.
If a bear eats a burger in the woods and doesn’t realize it’s not from a cow, does it care? Until bears evolve the ability to communicate, I suppose we’ll never know. It’s an impossible question, but not as impossible as the Impossible Burger it just ate.The future of meatless meat is here! So we asked the closest thing we have to a bear in the woods at Building Tomorrow, our producer Landry Ayres, to taste test two burgers, one an Impossible Burger and the other a traditional burger. Check out the episode to find out whether Landry guessed between them correctly, then stay for our interview with an Impossible Foods representative about the environmental benefits of this burger that is made from soy protein yet still ‘bleeds’ when you bite into it.How do you define meat? Does Impossible Burgers taste like regular burgers? What is the environmental impact of the Impossible Burger? What is the key ingredient to the Impossible Burger? Is it possible to make the Impossible Burger at the same price as a regular burger? What is the difference between lab grown meat and the Impossible Burger?Further Reading:Impossible FoodsImpossible Burger: Here’s what’s really in it, written by Laura ReileyCan a Burger Help Solve Climate Change?, written by Tad FriendRelated Content:The FDA Ruins Everything You Eat, Free Thoughts PodcastPopping Techno-Utopian Bubbles, Building TomorrowWhen Is a Market Failure Not a Market Failure?, written by Jon Murphy See acast.com/privacy for privacy and opt-out information.
Recorded at the Mises Institute in Auburn, Alabama, on 17 July 2019.
(https://www.bobmurphyshow.com/wp-content/uploads/2019/07/michel-accad.png) Michel Accad practices cardiology and general internal medicine in San Francisco, and holds a part-time clinical faculty appointment at the University of California San Francisco. This episode reproduces a discussion Bob had on Michel’s podcast, where they discussed the development of “welfare economics” in mainstream theory, in preparation for their subsequent discussion (which will be Bob Murphy Show ep. 45) of Kenneth Arrow’s famous paper critiquing free-market health care delivery. Mentioned in the Episode and Other Links of Interest: Michel Accad’s website, his podcast (https://accadandkoka.com/) . Michel’s twitter handle is @michelaccad (https://twitter.com/michelaccad) . Rothbard’s famous article (https://mises.org/library/toward-reconstruction-utility-and-welfare-economics-1) on welfare economics. How you can contribute (http://bobmurphyshow.com/contribute) to the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media (https://www.podsworth.com/) .
https://accadandkoka.com/wp-content/uploads/2019/06/Bob-Murphy_2017-1-e1560975045893.jpg ()Robert P. Murphy, PhD It is commonly believed that healthcare is a sector plagued by “market failure.” A heavy dose of government intervention is therefore necessary to optimize the needs of society. A paper most commonly cited in support of that view is one published in 1963 by Nobel Prize winner Kenneth Arrow, one of the giants of economic theory in the 20th century, and titled “Uncertainty and the Welfare Economics of Medical Care.” But how does economic theory arrive at the concept of market failure and how do economists conceive of health care when they apply their theoretical models to medical practice? To help sort this out, we have as our guest Robert P. Murphy, economist, teacher, and author of many books. Dr. Murphy obtained his PhD from NYU and is Senior Fellow at the Mises Institute. He is co-host, with Tom Woods, of the popular podcast Contra Krugman and he is also host of The Bob Murphy Show, “a podcast promoting free markets, free minds, and grateful souls.” The episode in in 2 parts. In this first part, we review the theoretical framework that forms the background to Arrow’s paper. In the upcoming second part, we will delve into the paper itself, discuss how economists conceive (or misconceive) of medical care and what the implications have been for the US healthcare system as a whole. GUEST: Robert P. Murphy: https://bobmurphyshow.com (Website) and https://twitter.com/BobMurphyEcon (Twitter) LINKS: Kenneth Arrow. “https://web.stanford.edu/~jay/health_class/Readings/Lecture01/arrow.pdf (Uncertainty and the Welfare Economics of Medical Care)” (1963, in American Review of Economics) Bob Murphy. https://www.amazon.com/Choice-Cooperation-Enterprise-Human-Action/dp/1598132180/ (Choice: Cooperation, Enterprise, and Human Action) (2015) Bob Murphy and Doug McGuff. https://www.amazon.com/Primal-Prescription-Surviving-Sick-Sinkhole/dp/1939563097 (Primal Prescription: )https://www.amazon.com/Primal-Prescription-Surviving-Sick-Sinkhole/dp/1939563097 (Surviving the “Sick Care” Sinkhole) (2015) Bob Murphy. https://www.amazon.com/Politically-Incorrect-Guide-Capitalism/dp/1596985046/ (The Politically Incorrect Guide to Capitalism) (2007) Support this podcast
SEGMENT 1: When it comes to a website, it's not set it and forget it. According to a Stanford university study, 75% of consumers just a company's credibility based on their website's design. Reviewing your website performance with a professional marketer is just like reviewing your balance sheet with your accountant. If you want to upgrade your website, what elements should you focus on? Beth Thouin, VP of Digital Marketing at Web.com, lays it all out for us.SEGMENT 2: Are you working hard to develop and launch a new or innovative product? If so, I have some good news ...and some bad news. First, the bad news: most new products will fail in the market, even if competently executed. The good news is that the former Engineering Director at Google is here to help us avoid this failure. Alberto Savoia is an award-winning entrepreneur, innovator, and speaker. He was the Engineering Director at Google. Today, in addition to working on his own ideas and projects, he teaches his unique approach for beating the Law of Market Failure in seminars and workshops at Google, Stanford University, and to organizations all over the world. He is the author of the book “The Right It”. SEGMENT 3: One of the parts of the economy that has really grown over the last 10 years is the maker culture. This is a democratic, “DIY” culture that intersects with “hacker culture” and revels in the creation of new things as well as tinkering with existing ones. One company, The Grommet, has been on the leading edge of this and one of the co-founders is on to share her insight on the maker economy. Jules Pieri is cofounder and CEO of The Grommet, a site that has launched more than two thousand consumer products since 2008. She was named one of Fortune's Most Powerful Women Entrepreneurs in 2013 and Goldman Sachs' 100 Most Interesting Entrepreneurs in 2014. She is currently an Entrepreneur in Residence at Harvard Business School. Her new book is “HOW WE MAKE STUFF NOW: Turn Ideas into Products That Build Successful Businesses”.Sponsored by Nextiva, Corporate Direct, MAKO and Web.com
Ellen looks at the types of market failure for your A Level Economics exam. In this episode, she will look at what causes market failure and the presence of externalities. Ideal for preparing you for your A Level Economics exam. For more info visit https://www.senecalearning.com/blog/a-level-economics-revision/
Former BB&T Bank CEO John Allison vs. Moody's Mark Zandi
On The Gist, Necco Wafers are out this Valentine’s Day, but don’t shed a tear. In the interview, some movies live for the twist. Steven Knight’s latest film, Serenity, is ostensibly about a sea captain’s Melvillian obsessions. Knight joins us to talk about how Matthew McConaughey gets it right, Saint Lucia, and writing screenplays in a detached state of mind (“It’s almost like accessing whatever the hell it is that creates dreams”). In the Spiel, journalists are losing their jobs. And there’s some BS out there about why that is. Learn more about your ad choices. Visit megaphone.fm/adchoices
On The Gist, Necco Wafers are out this Valentine’s Day, but don’t shed a tear. In the interview, some movies live for the twist. Steven Knight’s latest film, Serenity, is ostensibly about a sea captain’s Melvillian obsessions. Knight joins us to talk about how Matthew McConaughey gets it right, Saint Lucia, and writing screenplays in a detached state of mind (“It’s almost like accessing whatever the hell it is that creates dreams”). In the Spiel, journalists are losing their jobs. And there’s some BS out there about why that is. Learn more about your ad choices. Visit megaphone.fm/adchoices
What makes a 'market failure'? Ryan Bourne is author of the new paper, "How ‘Market Failure’ Arguments Lead to Misguided Policy.” See acast.com/privacy for privacy and opt-out information.
In this Shot of Propane, Jonny discusses the recent furore surrounding the Slimming World Muller Light fiasco and what the implications are for the diet industry. THE STORY https://www.facebook.com/PropaneFitness/videos/844097042647534/ THE LESSON Have a questioning mind and don't take everything that is preached by a diet organisation as gospel. Ask yourself, does this makes sense, or is it just someone promoting their own agenda at the expense of everyone else. We love answering questions from our audience! The best way to submit one is through our contact form on the website, you can access that here: Contact Us
Recorded at the Mises Institute in Auburn, Alabama, on July 18, 2018.
In today's episode I'm honoured to welcome back Bryan Cheang of Students for Liberty to discuss the fascinating topic of market failure. We discuss the textbook definition of the phrase, how it deviates from the mainstream use of the term, and whether state intervention is the best means to solve market failures. This is an episode jam packed with much to learn and many cases to learn from, including market failures regarding pollution, healthcare, education, and much more. In this episode, we discuss: - The textbook definition of market failure with its feature of competitive equilibrium and Pareto efficiency - 2 examples of market failure arguments, positive and negative externalities, and how they play out in the real world - Where the mainstream use of the term deviates from the textbook definition - Why it is wrong to use equity as a standard to judge capitalism - The “nirvana fallacy” and why it can be dangerous to regard the State as infallible - Public Choice Theory, special interest groups, and the insidious consequence of concentrated benefits with dispersed costs - The inefficiencies of the NHS in the UK, and alternative solutions to state intervention - How PIC grants in Singapore can have negative societal effects Much thanks again to my guest Bryan for being such a wonderful guest on the show, if you would like to learn more about him, you can check out his organization and what they do, you can go to www.facebook.com/SingaporeSFL. For more content, you can follow the Economical Rice Podcast at the following links below: Facebook: www.facebook.com/economicalricepodcast Twitter: www.twitter.com/econricepodcast Instagram: www.instagram.com/economicalricepodcast --- Send in a voice message: https://anchor.fm/economicalricepodcast/message
Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2017.
Someone hit me on twitter yesterday with the link to an article talking about the current glut of Milk we have here in the U.S. Apparently this listener has been getting emails suggesting this is an example of a market failure. I chuckle at the notion. Certainly, we can point to examples in Russia and Germany where central authority produced far too much of a good and failed to provide enough of another. How does this example in Milk differ from those? That's what I'm going to focus on today. I hope to give you some insight into why these things happen in a free market and how it's different from the overproduction in communist or socialist countries. Enjoy! JasonSupport the show.
COURSE OVERVIEW: Introduction to Political Economy is a self-contained and nontechnical overview of the intellectual history of political economy, the logic of microeconomics, and the definitions used in macroeconomics. It introduces the notion of a political economy, emphasizing the moral and ethical problems that markets solve, and fail to solve. LECTURE OVERVIEW: 1. Externalities: The uncompensated impact of one person’s actions on the well-being of a bystander 2. Markets alone overproduce negative externalities (such as pollution) and underproduce positive externalities (such as education). 3. The solution may be to "internalize" the externality by taxing bads (pollution) and subsidizing goods (education). 4. Private solutions (the "Coasian Bargaining" solutions) can work if numbers are small and transactions costs are not too high. 6. The reason markets are so useful is that prices provide a means of rationing scarce resources efficiently. The main means of rationing include: Price system (market) Queuing (first-come-first-served) Chance (lottery, drawing) Authority/discretion (experts choose) 7. The standard for "efficient" rationing is "Pareto Optimality": There is no feasible reallocation of resources that makes everyone better off, or makes at least one person better off and makes no one worse off. Technically, if the outcome of decentralized processes is not P.O., then that is a market failure A failure to enforce property rights (a la Hobbes), so the state just doesn’t do its job: Not a PO. 8. Types of "market failures": Information Asymmetries Natural Monopoly Externalities Public Goods Justice of the income/wealth distribution
Brennan discusses the intersection of political philosophy and political economy in this conclusion to our Guide.
Christine Exley is Professor of Business Administration at Harvard Business School. Christine is also Co-founder and Chief of Research at Wagaroo - an organisation dedicated in re-housing homeless dogs to responsible and loving families. Wagaroo was founded to bring a simple principle to life: When it comes to getting a pet, it's time to make it easier for people to do the right thing! No puppy mills. No backyard breeders. Just owners, rescues, responsible breeders, and shelters working together to find great homes for dogs who need them. Find out more at wagaroo.com. In this episode you will learn: the use of assumptions in economic models for testing. how to encourage volunteering and whether monetary incentives work. how a trip to Honduras changed Christine’s academic path from mathematics to economics. how a story about an individuals’ plight can be a powerful message to have people react in a charitable manner, while the plight of millions with no media coverage of a personal story of suffering could become less powerful. about Wagaroo and why Christine set it up to help save dogs from puppy mills. what are thick and thin markets. how to spot an irresponsible dog breeder. about the family2family programme run by Wagaroo. how localised knowledge is key to separate the responsible dog breeder from the irresponsible breeder. why more must be done to regulate and protect animals. how Christine saved a pups life from a dog shelter when she was 17 and became her family pet. why people put in less effort once they hit a target. about the motivating benefits of rewarding volunteers with gift cards rather than a cash equivalent. how virtual rewards, like stickers and badges, can incentivize people to meet targets. how people’s perceptions of a Pit Bull are an Econ 101 thing! and much much more. Check out the shownotes page to this episode at www.economicrockstar.com/christine-exley Subscribe to the Economic Rockstar podcast on iTunes and never miss an episode.
Hear all the latest breaking End Times News and updates. When you hear and see Bible prophecy matching the daily news headlines you know we are close to the Return off Jesus the Christ. Are you ready? Are you prepared? Are you Rapture Ready or will you be Left Behind?How do you recognize the antichrist. What is the mark of the beast? Is it too late to prepare? What is the Day of Atonemeeent? The Shemetah? Feast of Trumpets? Why is September 13, Septembber 27, September 28, 2015 so important and significant?Learn to discern the signs of the times, The End Times, daily at 5 on Tuning in with Betsy. Listen and learn. Better yet, Be still, listen, and know Who is God. He is in charge.
Hear all the latest breaking End Times News and updates. When you hear and see Bible prophecy matching the daily news headlines you know we are close to the Return off Jesus the Christ. Are you ready? Are you prepared? Are you Rapture Ready or will you be Left Behind?How do you recognize the antichrist. What is the mark of the beast? Is it too late to prepare? What is the Day of Atonemeeent? The Shemetah? Feast of Trumpets? Why is September 13, Septembber 27, September 28, 2015 so important and significant?Learn to discern the signs of the times, The End Times, daily at 5 on Tuning in with Betsy. Listen and learn. Better yet, Be still, listen, and know Who is God. He is in charge.
The third in our lecture series for Michaelmas Term 2014, given in the JCR at Mansfield College by Rosie Boycott - The Mayor of London's Food Advisor; former editor of The Independent on Sunday, The Independent, and the Daily Express.
The third in our lecture series for Michaelmas Term 2014, given in the JCR at Mansfield College by Rosie Boycott - The Mayor of London's Food Advisor; former editor of The Independent on Sunday, The Independent, and the Daily Express.
Welcome back! You've got yourself a bigtime MEGA-POD here, fellow Conspirator... In this one, GG and Furb explore the claims being made by the Obama Administration (and the Brits) that the Assad regime in Syria used chemical weapons against people in that nation. We also look at a fundamental question that if often posed to anarcho-capitalists (ie voluntarists), which is, as the title implies, "Wouldn't an anarcho society simply turn into a de-facto government/state run by the folks with the most powerful police agency? Good information here. Plus a refutation of a statement made by David Friedman about so-called "Market Failure", which is a HUGE misnomer and runs contrary to the reality of what a market is! That plus music by Broadcast "Come on, Let's Go", Government Issue with "Jaded Eyes", sundry clips from The Stooges, The Cult, The Demons, Killing Joke, and Massive Attack, and The Cult "The Witch". This program sponsored by: The John Kerry Elocution School "Sound Robotic! You Know You Wanna!" --- Be Seeing You! (www.libertyconspiracy.com)
Chase and Mike sit down with Dr. Walter Block, professor of economics at Loyola University in New Orleans. Walter talks about the myth of the market failure, and discusses how the free market does a much better job of dealing with environmental problems than the state does. You can check out Dr. Block's work at www.walterblock.com or at www.mises.org Here is the article by Murray Rothbard which Dr. Block refers to: http://archive.mises.org/4939/law-property-rights-and-air-pollution-by-murray-rothbard/ Buy his books, including "Defending the Undefendable" one of the first libertarian books I ever read.
A discussion of the principal circumstances in which markets do not produce an optimal outcome. After formally defining market failure, I discuss the ‘big four’ market failures of market power, externalities, public goods and asymmetric information. I conclude with a brief look at transaction costs. Recommended pre-listening is Episode 12: The Price System.
Recorded March 12, 2010, at the Ludwig von Mises Institute in Auburn, Alabama.
Clifford Winston of the Brookings Institution talks about the ideas in his book, Market Failure vs. Government Failure, with EconTalk host Russ Roberts. Winston summarizes a large literature on antitrust, safety regulation and environmental regulation. He finds that government regulation often fails to meet its objectives. While markets are imperfect, so is government. Winston argues that idealized theories of government intervention based on textbook theories of market failure are not the way regulation turns out in practice. He argues that special interest politics explains much of the disappointing outcomes of government regulation.
Clifford Winston of the Brookings Institution talks about the ideas in his book, Market Failure vs. Government Failure, with EconTalk host Russ Roberts. Winston summarizes a large literature on antitrust, safety regulation and environmental regulation. He finds that government regulation often fails to meet its objectives. While markets are imperfect, so is government. Winston argues that idealized theories of government intervention based on textbook theories of market failure are not the way regulation turns out in practice. He argues that special interest politics explains much of the disappointing outcomes of government regulation.
In this podcast, we define market failure and examine some of the key reasons for the occurence of market failure.
In this podcast, we examine some of the ways in which governments can help to correct market failures.
Shawn Cunningham and Jorg Meyer-Stamer discuss the issue of market failure: What is it? How can you address it? And how does it relate to other modes of organising economic transactions?
Don Boudreaux of George Mason University talks with EconTalk host Russ Roberts about when market failure can be improved by government intervention. After discussing the evolution of economic thinking about externalities and public goods, the conversation turns to the case for government's role in promoting competition via antitrust regulation. Boudreaux argues that the origins of antitrust had nothing to do with protecting consumers from greedy monopolists. The source of political demand for antitrust regulation came from competitors looking for relief from more successful rivals.
Don Boudreaux of George Mason University talks with EconTalk host Russ Roberts about when market failure can be improved by government intervention. After discussing the evolution of economic thinking about externalities and public goods, the conversation turns to the case for government's role in promoting competition via antitrust regulation. Boudreaux argues that the origins of antitrust had nothing to do with protecting consumers from greedy monopolists. The source of political demand for antitrust regulation came from competitors looking for relief from more successful rivals.
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