In Ep2 Economic Growth: How we “sellout” for Prosperity, we will be discussing the different costs that we make in trying to achieve economic growth. These costs will be explored through 3 different cases, a BBC radio 4 podcast about losing one’s accent, the British parliament choosing to forgo the tradition of using parchment (or vellum a kind of calfskin) for record documentation, and lastly, from 2 YouTube videos touching on the topic of environmental damage in China and India.

The economic lessons covered in this episode include:

– How not every economic cost is tangible

– How economic costs are not always immediately apparent

– How the loss of a custom is through the aggregate of individual decisions

– How there is a cost to maintaining traditions

– How we need to be careful in picking our battles in economic growth

– How we should never underestimate incentives

– And lastly, how environmental damage is a necessary evil

 

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