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.
Duke Faculty Artists/Collaborators
Cited Artists/Collaborators
- Michael C. Munger
Creation Date
- April 12, 2013