How Moral Panic Creates Black Markets
From The Reason Interview With Nick Gillespie by The Reason Interview With Nick Gillespie
May 27, 2026 · 1h 21m
About this episode
Alvin E. Roth discusses the impact of moral panic on markets and the effectiveness of harm reduction compared to prohibition.
Nobel Prize-winning economist Alvin E. Roth discusses the moral limits of markets, how bans create black markets, and why harm reduction often works better than prohibition.
People in this episode
Host: Nick Gillespie
Guest: Alvin E. Roth
Topics covered
- moral panic
- black markets
- economics
- prohibition
- harm reduction
Keywords
- moral limits
- black markets
- Nobel Prize
- economist
- prohibition
- harm reduction
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