Reading Notes on Dasgupta, "Economics: A Very Short Introduction": Communities
Reading Notes on Dasgupta, "Economics: A Very Short Introduction": Science and technology as institutions

Reading Notes on Dasgupta, "Economics: A Very Short Introduction": Markets

Discussion Questions:

  • How is having access to an ideal market the same as or different from having an economic network of ties (strong or weak) extending over the entire world?
  • In what sense is what Dasgupta calls an "ideal market" ideal?
  • Why did Friedrich von Hayek deserve his Nobel Prize?
  • How can a central planner nevertheless add value for society, even though Friedrich von Hayek did deserve his Nobel Prize?
  • Why should we worry about each of the four kinds of market failure that Dasgupta sees: distributional, free-riding, market power, and macroeconomic?

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