Puzzles and Paradoxes in Economics

Televised nationwide on C-SPAN, Mark Skousen’s lecture on “Puzzles and Paradoxes in Economics” at the Cato Institute on October 10, 1997, took the “ho-hum” out of economics. He explained common paradoxes like, “Why are all the best Washington apples found in New York City?” and “Why are diamonds (impractical) more expensive than water (extremely practical)?”

In this clip of the speech, Mark Skousen reveals the reasoning behind a common grocery store paradox — why ketchup is more expensive in the larger bottle than the smaller one.

Check back soon to view a short video clip!

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