onfocus

“We understand prices. But in a community, many of these transactions are not priced. You may do more favors than you get. You may not even get greater status as a result of something you do.”

This Freakonomics Radio interview with economist Raghuram Rajan is fantastic. He talks about the value of communities and the difficulty economists have quantifying their value. Local communities are also one of the primary ways we find meaning in our personal lives. There's a lot to think about there.