Econtalk
Munger on Middlemen
- Author: Vários
- Narrator: Vários
- Publisher: Podcast
- Duration: 1:12:35
- More information
Informações:
Synopsis
Mike Munger of Duke University talks with EconTalk host Russ Roberts about the often-vilified middleman--someone who buys cheap, sells dear and does nothing to improve the product. Munger explains the economic function of arbitrage using a classic article about how prices emerged in a POW camp during World War II. Munger then applies the analysis to the financial crisis.