Welcome to Econ Talk, part of the Library of Economics and Liberty. I'm your host Russ Roberts

of Stanford University's Hoover Institution. Our website is econtalk.org or you can subscribe,

comment on this podcast, and find links and other information related to today's conversation.

We'll also find our archives where you can listen to every episode we've ever done going

back to 2006. Our email address is maladycontalk.org. We'd love to hear from you.

Today is August 29, 2013, and my guest is Mike Munger of Duke University. This is Mike's 24th

appearance that's two dozen times count him, two dozen twenty-four on econtalk. Mike, welcome back.

Thanks so much. Our topic for today is milk. But before we get there, I want to alert

listeners that later this week, this Wednesday, ideally September the 4th, we expect to be releasing

a bonus midweek econ talk episode. Last April, Liberty Fund, the educational foundation that

sponsors this podcast and Butler University, hosted an evening called Capitalism Government

and the Good Society. The invited speakers were Mike Munger, Richard Epstein, Jamie Galbraith,

and Robert Skodelski. Unfortunately, last minute travel problems kept Galbraith from attending,

but the other three soldered on. In each of the three speakers made a brief presentation on the

topic of Capitalism Government and the Good Society, and that was followed by a conversation

among the three that I moderated, a sort of econtalk all-star game. It was a lot of fun,

and the evening was filmed by John Popola and his production team in emergent order.

And what we're going to release on Wednesday the 4th is both the audio and the video of the event.

It's about two hours long, about 40-ish minutes of presentations from the three speakers,

and then about an hour of conversation. I hope you enjoy it. Now on to milk.

The idea for this week's episode came from a brief video interview with Michael Poland,

who described the supermarket as, quote, a treacherous environment if you're trying to eat

...