SECTION III: THE FRAMEWORK OF CHOICE IN POLITICS
Lecture 11: The Paradigm of Public Choice
READINGS:
- Munger, MC, and KM Munger, Choosing in Groups, Chapters 1-2
Lecture 12: Basics of Political Choice I—Preferences
READINGS:
- Munger-Munger, Choosing in Groups, Chapter 3
Lecture 13: Basics of Political Choice II—Politics
READINGS:
- Munger-Munger, Choosing in Groups, Chapter 4
Lecture 14: Political Choice in Multiple Dimensions
READINGS:
- Munger-Munger, Choosing in Groups, Chapter 5
Lecture 15: A Problem with Political Choice—Impossibility
READINGS:
- Munger-Munger, Choosing in Groups, Chapter 7
Lecture 16: Market Failure—Information, Monopoly, and Rent-Seeking
READINGS:
- Cowen, Tyler. “Public Goods.” http://www.econlib.org/library/Enc/PublicGoods.html
- Hardin, G. “The Tragedy of the Commons,” http://science.sciencemag.org/content/162/3859/1243
- Munger, MC. “Orange Blossom Special.” (LINK: http://www.econlib.org/library/Columns/y2008/Mungerbees.html )
- “When Is A Potato Chip Not Just A Potato Chip?” (LINK: http://youtu.be/ljrBEdg-QU4 )
- “Everything You Know About Recycling is Wrong. Cato Unbound” (LINK: http://www.cato- unbound.org/2013/06/03/michael-c-munger/recycling-can-it-be-wrong-when-it-feels-so-right )
- “Is National Public Radio a Public Good?” (Planet Money) ( http://www.npr.org/blogs/money/2011/03/28/134863998/the-friday-podcast-economists-on- federal-funding-for-npr )
- Akerlof, George A. (1970). “The Market for ‘Lemons’: Quality Uncertainty and the Market Mechanism”. Quarterly Journal of Economics (The MIT Press) 84 (3): 488–500.
- Marotta, DJ. “What is Rent-Seeking?” Forbes. (LINK: http://www.forbes.com/sites/davidmarotta/2013/02/24/what-is-rent-seeking-behavior/ )
- Munger, MC “Rent Seek and You Will Find,” Liberty Fund, (LINK: http://www.econlib.org/library/Columns/y2006/Mungerrentseeking.html )
- Giving Away Money Costs More Than You Think (LINK: http://youtu.be/XwBP_pqkGJA )
Lecture 17: The Theory of the Firm: Pirates!
READINGS:
- Leeson, P. The Invisible Hook, Chapters 1-8.
- Michael Munger, Duke University. Sports and “The Code” ( LINK: http://www.econtalk.org/archives/2013/07/munger_on_sport.html )
- David Skarbek, Kings College. Social Order of the Underworld ( LINK: http://www.econtalk.org/archives/2015/03/david_skarbek_o.html )
- Peter Leeson and the Economics of Piracy http://www.econtalk.org/archives/2009/05/leeson_on_pirat.html
