Tim Harford on BBC
An economist and one of the founders of this blog, Tim Harford, looks into the subject of unconventional markets. Whether it's selling kidneys, or "tossing dwarfs," Tim asks if the feeling of distaste justifies excluding certain transactions from the market.
The audio and transcript for Repugnant Markets are here.
Comments (2)
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Personally I believe that the LAWs given by GOD should play the utmost part when a business transaction is in operation. Obviously people differ in their belief but does that mean the believing seller should abandone their beliefs because of the purchaser? One does not HAVE to sell or buy a product or service if the environmant is not sutible.
Posted by: Bernard D Kimmel | Jul 17, 2007 11:42:26 AM
That point is addressed in the transcript. If two people come to an agreement to trade a body part for money, and they are both well-informed of the decision they are making(What?? I *need* my liver??), then the trade must make them both better off. The question is what the externalities of this transaction are, if any.
Posted by: Andrew Boik | Jul 25, 2007 5:56:22 PM