Michael Munger

  • The Magic Food Cupboard

    “Every small aspect of the work that people do to deliver and stock those Whole Foods grocery shelves is noble, in its own way. Dismissing the parts as meaningless fails to understand the power of the larger system.” ~Michael Munger

    The Magic Food Cupboard
  • Competition Can’t Be Perfect

    “Since if something is perfect, it must be desirable, a new generation of attorneys is attempting a wholesale takeover of antitrust enforcement.” ~Michael Munger

    Competition Can’t Be Perfect
  • Look With Two Is

    “Look at institutional arrangements as they actually play out, making the comparison by looking through two Is: information and incentives.” ~Michael Munger

    Look With Two Is
  • Commoditizing Excess Capacity

    “If all the cars, and apartments, have people using them, and all the tools have people making things with them, we will need far fewer of those things. We have ‘enough’ stuff, it’s just in the closet.” ~Michael Munger

    Commoditizing Excess Capacity
  • Division of Labor Makes Us Wealthy…And Fragile

    “Our dependence on the ability to serve others in highly specialized ways is contingent on the rest of the system working constantly and efficiently. Our shrinking command of general competence puts us at greater risk.” ~Michael Munger

    Division of Labor Makes Us Wealthy…And Fragile
  • Property in Words: Not Even Under Suspicion

    “Respect for the creators of ideas, and the words through which those ideas are conveyed in the literature, is the highest value we have in the academy.” ~Michael Munger

    Property in Words: Not Even Under Suspicion
  • ChatGPT is a Calculator; Deal with It

    “For many routine tasks—and, honestly, most writing is routine, not creative—it is faster and actually better to have the AI create the text, at least for the first draft.” ~Michael Munger

    ChatGPT is a Calculator; Deal with It
  • I Fought the Google, and the Google Won

    “The plaintiffs were all taxpayers in NC, but we had no actual say about how those payments taken from us were to be spent, even if the spending violated the Constitution of the state.” ~Michael Munger

    I Fought the Google, and the Google Won
  • Argentina Agonistes: The Separation of Money and State

    “The Argentine peso has lost 93 percent of its value in just the past 4 years. Anyone who could carry out transactions using dollars always did so; holding pesos was little different from simply setting your wealth on fire.” ~Michael Munger

    Argentina Agonistes: The Separation of Money and State
  • Capitalism is a “DDoLL”

    “One thousand people can be unimaginably more wealthy than eight people. Division of labor is the most important source of increasing returns to scale in the market system.” ~Michael Munger

    Capitalism is a “DDoLL”