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Thursday, September 26, 2013

It’s the Margin that Counts


Marginalism, the effect of incremental, or small, changes, shows how economic reasoning allows us to accomplish more by accepting limits on what can be accomplished, rather than making heroic attempts to solve problems completely. In this podcast, Dwight Lee gives two examples to illistrate this point. (8:12 minutes)

  • Dwight R. Lee is the O’Neil Professor of Global Markets and Freedom in the Cox School of Business at Southern Methodist University.