Markets and democracy
Content for week of Tuesday, January 19, 2021–Friday, January 22, 2021
Readings
- 11.1-11.6 in Economy, Society, and Public Policy1
- 12.1-12.6 in Economy, Society, and Public Policy2
- James Madison, The Federalist Papers, #10
- Chapters 3, 4, and 8 in Naked Economics3
- The Uncertain Hour, “The Peanut Butter Grandma goes to Washington,” season 2, episode 1
- The Uncertain Hour, “The Peanut Butter Wars,” season 2, episode 2
- The Uncertain Hour, “The Peanut Butter Verdict,” season 2, episode 3
Other useful resources
- Khan Academy: Absolute and comparative advantage
- Planet Money, “A Former Lobbyist Tells All,” Episode 341, January 27, 2012
- LSE Research: Washington’s Revolving Door
- John Sides, “A new experiment shows how money buys access to Congress,” The Washington Post’s Monkey Cage, March 11, 2014
Slides
Download the slides from today’s class.
Videos
Videos for each section of the lecture are available at this YouTube playlist.
- Introduction
- Markets and institutions
- Markets, trading, and prices
- Governments in the economy
- Democracy and factions
- Small factions and public goods
- Government failure
You can also watch the playlist (and skip around to different sections) here:
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The CORE Team, Economy, Society, and Public Policy, 2019, https://www.core-econ.org/espp/. ↩︎
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Ibid. ↩︎
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Charles Wheelan, Naked Economics: Undressing the Dismal Science, 3rd ed. (New York: W. W. Norton & Company, 2019). ↩︎