Edward Millner's blog. It contains links to articles for students taking Principles of Microeconomics and Managerial Economics. It also contains links to articles about politics. The opinions here are mine. No one at VCU reviews or approves what I post.
Tuesday, July 28, 2020
Is plywood boarding conducive to cooperative exchange?
The 7-11 next to where I work covered its windows with black plywood following nights of protests and destruction prompted by George Floyd's death, BLM, and calls to defund the police. The plywood made the entrance much less appealing and made me reflect on how much social order helps people cooperate voluntary. When we and our property are secure, we reduce our private expenditures on protection of life, limb, and property and have a greater incentive to invest in ourselves and our assets, and are more trusting and eager to engage in cooperate exchange.
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