Middlemen
// November 30th, 2008 // No Comments » // economics, podcast
Econtalk is one of the podcasts that I follow. I have never been a podcast person, its sound, unlike reading going back is too much of an effort. Russ Roberts hosts these discussions, I would not call it an interview.
Middlemen have been sneered at for centuries in almost every culture. But this is a very interesting conversation. The page also has a well written summary. The paper which is the centre of the discussion is this one. This is a old yet readable paper. It describes the birth and evolution of a complex economy with rich and poor even though everyone starts with the same amount. A prisoner of war camp provides this configuration where there is negligible transaction with rest of the free world save the red cross parcels that are given to each prisoner. So its the same exact resources, only different needs. It reminds me of One day.. . I would add this paper to the compilation of good reads that I am making for my Dad. I have been thinking of having the compilation printed and bound.
