353 | Alvin Roth on the Economics of Morally Contested Markets
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Hello everyone, welcome to the Mindscape Podcast. I'm your host, Sean Carroll. I'm sure that various Mindscape listeners have opinions about markets in economics, the way that we set prices and exchange rates for all sorts of goods and services. Markets are clearly everywhere, both of course in capitalist countries, but even elsewhere there are things that play the roles of markets, deciding how different people who want to sell things and buy things can decide on a fair rate of exchange and make those exchanges happen.
They also have downsides. You know, markets can be exploitative, they can be unfair, they can be monopolized and so forth. Put aside all of those issues for the moment. So forget about most of the ways in which markets help us or harm us in typical everyday situations. Let's focus in on an ideal situation where you have one party
who has something that they don't need anymore. They want to get rid of it. They want to sell it. They want to give it for some price to some other person. And you have another party who would like that item and has some money or other commodities in order to spend to get that item.
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