Cardiff Garcia interviewed me about Moral Economics, and we began by talking about medical aid in dying, and moved briskly on to other controversial markets such as pornography and prostitution.
The New Bazaar
Economist Alvin Roth, winner of the economics Nobel in 2012 for his work on market design, joins Cardiff to discuss his new book, Moral Economics: From Prostitution to Organ Sales: What Controversial Transactions Reveal About How Markets Work.
The book is about morally contested markets: transactions that participants would like to engage in but that others think they shouldn't be allowed to, even when it’s hard to identify measurable harms to those objectors. It's also a great way to understand how markets interact with the law, politics, social norms, income inequality, human psychology, and so much more than just monetary exchange.
In this chat, Alvin and Cardiff discuss:
• Medical aid in dying and the economics of “repugnant” markets
• Sex work, trafficking, and the unintended consequences of criminalization
• Plural marriage and the challenge of designing new legal protections
• Sports gambling and the rise of prediction markets
• Kidney exchanges, the transplantation shortage, and the opposition to cross-border exchanges
Throughout the conversation, they confront the trade-offs involved in both allowing controversial markets and trying to ban them.
Related Links
• Moral Economics: From Prostitution to Organ Sales: What Controversial Transactions Reveal About How Markets Work (https://basic-venture.com/titles/alvi...)
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