Vernon Smith on Experimental Economics
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Vernon Smith is a pioneer, discovering a whole new way to study economics and winning a Nobel Prize for doing so. Smith sat down with Reason.tv's Nick Gillespie to discuss a variety of topics, including growing up in Kansas during the Great Depression, his ideological journey from socialist to libertarian, how and why some of Adam Smith's most important intellectual contributions are overlooked, and what experimental economics has to say about the collapse of the housing market.