Michael Munger on Sports, Norms, Rules, and the Code

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4.7 • 4.4K Ratings

🗓️ 1 July 2013

⏱️ 62 minutes

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Summary

Michael Munger of Duke University talks with EconTalk host Russ Roberts about the role of formal rules and informal rules in sports. Many sports restrain violence and retaliation through formal rules while in others, protective equipment is used to reduce injury. In all sports, codes of conduct emerge to deal with violence and unobserved violations of formal rules. Munger explores the interaction of these forces across different sports and how they relate to insights of Coase and Hayek.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:06.4	I'm your host Russ Roberts of Stanford University's Hoover Institution.
0:11.0	Our website is econtalk.org where you can subscribe, comment on this podcast, and find links
0:16.3	and other information related to today's conversation.
0:19.0	You'll also find our archives where you can listen to every episode we've ever done going
0:23.3	back to 2006.
0:25.4	Our email address is maladykontalk.org, we'd love to hear from you.
0:32.8	Today is May 31, 2013, and my guest is Michael Wunger of Duke University, where he is a
0:39.3	professor of political science, economics, public policy, and the director of the philosophy
0:43.9	politics and economics program at Duke.
0:47.5	He blogs the kids prefer cheese, and today will mark his 23rd appearance as a guest on
0:53.1	econ talk.
0:54.1	Mike, welcome back.
0:55.1	It's always so great.
0:57.1	You know, it's May 31, I just want to mention before we get started where we're going to
1:02.2	talk about is it looks like we're going to be talking about sports, but we are going
1:06.4	to be talking about a more general set of economic principles and insights related to institutions,
1:14.1	incentives, unintended consequences.
1:17.4	But I just thought I'd mention that both of our baseball teams are in first place this
1:21.2	morning.
1:22.3	Always right with the world.
1:23.8	I was actually ironic you say that I was going to introduce with Godson, his heaven,
	...

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