Dwight R. Lee is the O’Neil Professor of Global Markets and Freedom in the Cox School of Business at Southern Methodist University.
Fear that we are running out of important resources like agricultural land is perpetual, but in most cases, this fear is baseless. In this podcast, Dwight Lee explains the role of property rights in preventing the depletion of resources. (8:48 minutes)
In this podcast, Dwight Lee argues that the productive cooperation of the marketplace depends on freedom, and freedom depends on the productive cooperation of the marketplace. With wealth and freedom, there is no tradeoff; they reinforce each other in market economies, with it generally impossible to have one without the other. (8:14 minutes)
In this podcast, Dwight Lee discusses the fundamental principles of demand and supply. He explains how the market process constantly directs people to accomodate one another in ways that move them toward the intersection of consumer demand and producer supply. (8:34 minutes)
Michael Sandel's arguments that markets crowd out "nonmarket values worth caring about" is appealing and easy to understand, but often fails to account fully for the roles prices play or the constraints on our abilities to form deep, intimate bonds with millions of people at once.
Income inequality is often a side effect of some very good things we'd be better off not doing away with.
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April 16, 2040, 11:00 AMREGISTER