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In today’s edition of The Heartland Daily Podcast, Jesse Hathaway, managing editor of Budget & Tax News speaks with Andrew Heaton. Heaton is a stand-up comedian based out of New York city and star of the popular Youtube series “EconPop.” Heaton joins Hathaway to explain what the classic film “The Shawshank Redemption” can teach us about the creation of markets, voluntary exchange, and why you can’t make change for a cow or a goat.
Heaton also explains the advantages and disadvantages of barter economies, and why people use currency instead of chickens to buy goods and services from people providing them. Heaton also talks about why sin taxes and prohibition lead to criminal activity, and how prices are set in markets of all kinds—even the black markets portrayed in the fictional Shawshank State Prison.