Hart: People Have Schizophrenic View of Government

The video explores the concept of contracts in economics, focusing on firm relationships, decision rights, and hold up power. It discusses the influence of political actions on contracts and trade deals, using NAFTA as an example. The importance of economics as a tool for decision making in various contexts, including education, investment, and global issues, is highlighted. The video also examines public perception of government roles in economic outcomes, emphasizing the complexity of market systems and the need for government support for the least well-off.

Discuss the implications of trade deals like NAFTA as described in the text.

What challenges do economists face in a post-factual world according to the speaker?

How does the speaker perceive the relationship between government and the economy?