Summary: Sheilagh Ogilvie, an economic historian at Cambridge University, outlines the importance of guilds in the 16th century and how their political and economic structures parallel modern workplaces and markets.
Original air date: March 27, 2012
Length: 30:15 min
Link: http://www.npr.org/blogs/money/2012/04/10/150368897/the-matzo-economy
Summary: A visit to the Manischewitz matzo factory as an illustration of niche industries. An illustration of the impact of regulations via religious restrictions.
Original Air Date: April 10, 2012
Length 21:19
Main story content begins: 2:24
Discussion Prompt: This podcast features the many rules, restrictions and regulations faced by the Manischewitz company. (1) How do you think these restrictions relate to concepts about different market structures that firms may operate in? (2) What do you see as the benefit to the Manischewitz company that comes from operating in this unique marketplace? What are the challenges? What benefits / challenges might face a new company seeking to join this industry?
Follow-up Prompt: How might technology and/or the passage of time impact the degree to which these restrictions help or hurt the Manischewitz company? Do you think this might be different for other industries where barriers to entry are a component of the market structure?
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