Marglin on Markets and Community

Stephen Marglin, author of The Dismal Science: How Thinking Like an Economist Undermines Community, talks with host Russ Roberts about the markets and community. Marglin argues that markets and commercial transactions undermine the connections between us. He wants people to pay more attention to what is lost and not just what is gained by the pursuit of material well-being. Topics include the nature of community, voluntary associations, costs and benefits of mobility, how insurance reduces our dependence on each other, and the nature of knowledge.