tag:blogger.com,1999:blog-1740670447258719504.post6141085491964223800..comments2024-03-27T03:00:27.024-04:00Comments on Facts & other stubborn things: Prices aren't everythingEvanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1740670447258719504.post-72166306010698168802012-10-17T04:50:29.228-04:002012-10-17T04:50:29.228-04:00"and David Henderson says that we shouldn'..."and David Henderson says that we shouldn't be worrying about designing a market for kidney's - we should just "allow one"."<br /><br />Oh to live in a libertarian world where markets just spring to life and everything is magic.<br /><br />Presumably, an organ that had been forcibly harvested would not be for sale in Henderson-land. Presumably, somebody trying to pass off animal organs as human ones would not be allowed to do so. Would there not have to be any legal check on those who received a new organ? People cannot say 'oh I won't go there next time' if they are dead.Unlearningeconhttps://www.blogger.com/profile/13687413107325575532noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-74357491218972339482012-10-16T11:06:34.502-04:002012-10-16T11:06:34.502-04:00Given the abject failures of economics over the la...Given the abject failures of economics over the last twenty years, and the generally low esteem (open contempt?) the profession is in, economists should be happy to embrace the mathematician Shapley as one of their own. Absalonhttps://www.blogger.com/profile/09131268683451462949noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-34789092198989897362012-10-16T08:33:07.845-04:002012-10-16T08:33:07.845-04:00Yeah, I agree that there's too much focus on p...Yeah, I agree that there's too much focus on prices. It needlessly limits the scope of economics. If we focused less on price then more and more people would grasp the value of allowing taxpayers to choose which government organizations they give their taxes to.<br /><br />Because...it's all about the opportunity cost...<br /><br />"The concept of opportunity cost (or alternative cost) expresses the basic relationship between scarcity and choice. If no object or activity that is valued by anyone is scarce, all demands for all persons and in all periods can be satisfied. There is no need to choose among separately valued options; there is no need for social coordination processes that will effectively determine which demands have priority. In this fantasized setting without scarcity, there are no opportunities or alternatives that are missed, forgone, or sacrificed." - James M. BuchananXerographicahttps://www.blogger.com/profile/14978832439622230018noreply@blogger.com