Rosolino Candela on Price Theory

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Loose, Vague, and Indeterminate

George Mason Economics Society

14 episodes

4 days ago

Loose, Vague, and Indeterminate is the podcast of the Economics Society at George Mason University. The title is a phrase used by Adam Smith in The Theory of Moral Sentiments to describe the set of rules that are not "precise and accurate." Since economics is all about people and the decisions they make, very little of it is precise and accurate. Every Friday, this podcast dives into the looseness, vagueness, and indeterminacy with interviews of undergraduate students, graduate students, professors, and outsiders exploring economics from all angles.

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Social Sciences

Science

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Rosolino Candela on Price Theory

Loose, Vague, and Indeterminate

56 minutes 57 seconds

5 years ago

Rosolino Candela on Price Theory

Mercatus Center Associate Director of Academic and Student Programs Rosolino Candela joins the podcast to talk about price theory. In an example-filled episode, we discuss free parking at shopping centers, lighthouses and lightships in 18th-century Britain, and the sugar contents of Fanta. Dr. Candela also talks about who he considers the best price theorists: Mises, Hayek, Buchanan, Tullock, Alchian, and Demsetz. Marcus Shera cohosts.