Markets in everything: Difference between revisions
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# The introduction of [[money]] and monetary payments in areas where such payments are not traditional, usually in an attempt to shape incentives. | # The introduction of [[money]] and monetary payments in areas where such payments are not traditional, usually in an attempt to shape incentives. | ||
# The fact that the [[law of supply]], [[law of demand]], and the more general idea that [[people respond to incentives]], which are basic ideas of economics, apply even to situations where the transactions and interchanges between people do not involve money and are not customarily considered the domain of economics. For instance, the use of barter trading or reputation-based currencies may emerge even in cases where money cannot be introduced. | # The fact that the [[law of supply]], [[law of demand]], and the more general idea that [[people respond to incentives]], which are basic ideas of economics, apply even to situations where the transactions and interchanges between people do not involve money and are not customarily considered the domain of economics. For instance, the use of barter trading or reputation-based currencies may emerge even in cases where money cannot be introduced. | ||
==External links== | |||
* [http://marketsineverything.com Markets In Everything website] collects items about Markets In Everything from the [http://marginalrevolution.com Marginal Revolution blog] | |||
* [http://www.aei-ideas.org/topic/markets-in-everything/ Markets in everything topic on the AEI blog] | |||
Latest revision as of 19:55, 21 December 2012
This article is about a catch-phrase. View other catch-phrases
The phrase markets in everything is a popular phrase in the economics blogosphere describing one or more of the following:
- The introduction of money and monetary payments in areas where such payments are not traditional, usually in an attempt to shape incentives.
- The fact that the law of supply, law of demand, and the more general idea that people respond to incentives, which are basic ideas of economics, apply even to situations where the transactions and interchanges between people do not involve money and are not customarily considered the domain of economics. For instance, the use of barter trading or reputation-based currencies may emerge even in cases where money cannot be introduced.
External links
- Markets In Everything website collects items about Markets In Everything from the Marginal Revolution blog
- Markets in everything topic on the AEI blog