Russ Roberts

February 2011

A Monthly Archive (4 entries)
 

Podcast episode George Will on America, Politics, and Baseball

EconTalk Episode with George Will
Hosted by Russ Roberts

Author and syndicated columnist George Will talks with EconTalk host Russ Roberts about the state of the country, the nature of politics, and at the end, a little about baseball. The conversation begins with Will discussing his career and how someone with a Ph.D. from Princeton got involved in politics and then writing. Will then discusses the current political environment and how little some things have changed in politics. Other topics include the future of journalism and Will's predictions for how the Chicago Cubs will fare this season (4th place).

Size: 28.5 MB
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Podcast episode Acemoglu on Inequality and the Financial Crisis

EconTalk Episode with Daron Acemoglu
Hosted by Russ Roberts

Daron Acemoglu of MIT talks with EconTalk host Russ Roberts about the role income inequality may have played in creating the financial crisis. Raghuram Rajan in his book, Fault Lines, argues that growing income inequality in the last part of the 20th century created a political demand for redistribution and various policy changes. This in turn created the push for higher home ownership rates and led to the distortions of the housing market that in turn led to excessive risk-taking in the financial market. Acemoglu suggests a simpler story where the financial sector through its political influence distorted the rules of the game, benefiting executives in the industry, which in turn led to outsized rewards and ultimate instability in the financial industry. The conversation discusses ways of distinguishing between these two arguments and what might be done to change the incentives of politicians.

Size: 29.2 MB
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Podcast episode Cowen on the Great Stagnation

EconTalk Episode with Tyler Cowen
Hosted by Russ Roberts

Tyler Cowen of George Mason University and author of the e-book The Great Stagnation talks with EconTalk host Russ Roberts about the ideas in the book. Cowen argues that in the last four decades, the growth in prosperity for the average family has slowed dramatically in the United States relative to earlier decades and time periods. Cowen argues that this is the result of a natural slowing in innovation and that we expect too much growth relative to what is possible. Cowen expects improvements in the rate of growth in the future when new areas of research yield high returns. The conversation includes a discussion of the implications of Cowen's thesis for politics and public policy.

Size: 27.8 MB
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Podcast episode Kling on Patterns of Sustainable Specialization and Trade

EconTalk Episode with Arnold Kling
Hosted by Russ Roberts

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about a new paradigm for thinking about macroeconomics and the labor market. Kling calls it PSST--patterns of sustainable specialization and trade. Kling rejects the Keynesian approach that emphasizes shortfalls in aggregate demand arguing that the aggregate demand approach masks the underlying complexity of the recalculations that periodically take place in a dynamic economy. Instead, Kling invokes the mutual exploration between entrepreneurs and workers for profitable opportunities that pay well using the workers' skills. This exploration takes time, involves trial and error, and can have false starts because businesses sometimes fail or employees are difficult to find or match with employment opportunities. Kling applies these ideas to the current crisis to explain why labor market recovery is so sluggish and what might policies might improve matters.

Size: 31.8 MB
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