Nobel Laureate on the Morality of Markets | Guest: Vernon Smith | Ep 88

Matt Kibbe is joined by Nobel laureate economist Vernon Smith to talk about how the market process is not only efficient, but also encourages communities to peacefully cooperate. The misconception about laissez-faire economics is that it’s ruthless and Darwinian, but Smith shows through his own experimental work that free markets foster morality and consideration of others far more than top-down systems like socialism. They also dig into the legacy of Adam Smith, the first person to fully explain these ideas to the Western world.

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Kibbe on Liberty is a weekly podcast with libertarian author, economist, and community organizer Matt Kibbe. As the president of Free the People, Kibbe has decades of experience in the libertarian political sphere, but in these troubled times he believes that open dialogue is needed to bring people together. This means being willing to talk, and especially listen, to those with whom we might not always agree, trying to understand perspectives that might otherwise be foreign to us.

Kibbe on Liberty's growing roster of guests includes politicians, economists, comedians, writers, radio personalities, activists, journalists, and even a magician or two—with topics of conversation ranging from current affairs to craft beer and the Grateful Dead. So grab a cold one, and settle in for the next hour of Kibbe on Liberty, mostly honest conversations with mostly interesting people.