The cultural diversity critique of markets

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International Trade

Course (61 videos)

The cultural diversity critique of markets

Instructor: Tyler Cowen, George Mason University

A common argument is made that markets and capitalism will lead to too little cultural diversity. While it's true that diversity across societies (how countries may be different from one another) is decreasing, diversity within societies (access to diverse products within one city or country) is increasing with trade. Diversity across time is also increasing, as there are greater incentives to innovate and sell on the global market. Exchange and capitalism encourage diversity in cultural goods and services.

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