No Free Lunch: Dr. John Quiggin Explains the Two Lessons of Economics

Dr. John Quiggin, Professor of Economics at the University of Queensland, discusses the core insights from his acclaimed book Economics in Two Lessons: Why Markets Work So Well and Why They Can Fail So Badly. Dr. John Quiggin, Professor of Economics at the University of Queensland, joins The Business Talk podcast to unpack the big ideas from his book Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly. Drawing on his extensive body of work as a leading economist, he explains why opportunity cost is the central idea citizens need to understand, and then shows how and why market prices often fail to reflect the true social costs of our choices. Through examples ranging from pollution and congestion pricing to COVID-19 vaccines and the digital economy, he illustrates when markets deliver efficient outcomes and when targeted government intervention becomes essential. This podcast is brought to you by Global Management Consultancy. For more information, please visit www.globalmanagementconsultancy.com. Disclaimer: A. The background music incorporated in this video is the intellectual property of its respective developer and is protected under applicable copyright laws. Notwithstanding that it is a free-to-use version, Business Talk, Global Management Consultancy, and Deepak Bhatt do not own, and expressly do not claim, any rights, title, or interest in or to this music. B. Dr. John Quiggin shared valuable insights from his book “Economics in Two Lessons: Why Markets Work So Well and Why They Can Fail So Badly”, during an engaging episode of the Business Talk podcast. The uploaded video contains copyrighted content, so changing any graphics, music, or on-screen appearance of the author or host is not allowed.