Why Do We Exchange Things?

  • Video Recording

What can we learn about markets from a WWII POW camp? According to British economist R. A. Radford, POWs found that rather than give away unwanted rations to other POWs, “goodwill developed into trading as a more equitable means of maximizing individual satisfaction.” Professor Michael C. Munger explores what makes exchange more equitable than simply giving gifts.

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Duke Faculty Artists/Collaborators

Cited Artists/Collaborators

  • Michael C. Munger

Creation Date

  • April 12, 2013