Monty Python — Cheese Shop Sketch

One of the many benefits of international trade is increased product variety because countries can devote resources to the goods they have a comparative advantage in. Monty Python demonstrates what a world without trade would look like. After going through a list of a variety of different types of cheese (even cheddar!), but nothing is available. The finest cheese shop is at least clean!

Thanks to Rob Szarka for the clip suggestion on his Twitter account!

Last Leg — David Mitchell on Tax Avoidance

The Last Leg is a British comedy and late night television talk show similar to the Late Show or The Tonight Show in the United States. The economist David Mitchell was a guest one night and opted to talk about taxes, tax evasion, and tax avoidance. He notes that people who have a conscious and try to pay their “fair share” of taxes are actually being taxed at a higher rate than those who are trying to avoid paying taxes. This is backwards from the traditional notion that governments should use taxes to discourage bad behavior.

Thanks for the clip Chris Neill.

Golden Balls: Coordination

In the great British game show, Golden Balls, contestants must decide whether to cooperate with each other or be devious. The dramatic outcome of the game (replicated here) is that one will still and the other will be honest. This variant of the game has a unique twist to ensure cooperation.

Golden Balls: Split or Steal

In one of the greatest game theory game shows produced, contestants play a simultaneous-move game where they must decide whether to split or steal money from each other.

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