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EconTalk Archives, 2011

Updated 4 days ago

Education
Courses
Science
Social Sciences
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EconTalk is an award-winning weekly talk show about economics in daily life. Featured guests include renowned economics professors, Nobel Prize winners, and exciting speakers on all kinds of topical matters related to economic thought. Topics include health care, business cycles, economic growth, free trade, education, finance, politics, sports, book reviews, parenting, and the curiosities of everyday decision-making. Russ Roberts, of the Library of Economics and Liberty and George Mason U., draws you in with lively guests and creative repartee. Look for related readings and the complete archive of previous shows at EconTalk.org, where you can also comment on the podcasts and ask questions.

Read more

EconTalk is an award-winning weekly talk show about economics in daily life. Featured guests include renowned economics professors, Nobel Prize winners, and exciting speakers on all kinds of topical matters related to economic thought. Topics include health care, business cycles, economic growth, free trade, education, finance, politics, sports, book reviews, parenting, and the curiosities of everyday decision-making. Russ Roberts, of the Library of Economics and Liberty and George Mason U., draws you in with lively guests and creative repartee. Look for related readings and the complete archive of previous shows at EconTalk.org, where you can also comment on the podcasts and ask questions.

iTunes Ratings

12 Ratings
Average Ratings
10
1
0
0
1

My Favorite Podcast

By SB-9 - Nov 29 2017
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It’s what to listen to every Monday.

Insightful

By MasAssali - Sep 05 2015
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Somewhat dry but very insightful.

iTunes Ratings

12 Ratings
Average Ratings
10
1
0
0
1

My Favorite Podcast

By SB-9 - Nov 29 2017
Read more
It’s what to listen to every Monday.

Insightful

By MasAssali - Sep 05 2015
Read more
Somewhat dry but very insightful.
Cover image of EconTalk Archives, 2011

EconTalk Archives, 2011

Updated 4 days ago

Read more

EconTalk is an award-winning weekly talk show about economics in daily life. Featured guests include renowned economics professors, Nobel Prize winners, and exciting speakers on all kinds of topical matters related to economic thought. Topics include health care, business cycles, economic growth, free trade, education, finance, politics, sports, book reviews, parenting, and the curiosities of everyday decision-making. Russ Roberts, of the Library of Economics and Liberty and George Mason U., draws you in with lively guests and creative repartee. Look for related readings and the complete archive of previous shows at EconTalk.org, where you can also comment on the podcasts and ask questions.

Rank #1: Vincent Reinhart on Bear Stearns, Lehman Brothers, and the Financial Crisis

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Vincent Reinhart of the American Enterprise Institute talks with EconTalk host Russ Roberts about the government interventions and non-interventions into financial markets in 2008. Conventional wisdom holds that the failure to intervene in the collapse of Lehman Brothers precipitated the crisis. Reinhart argues that the key event occurred months earlier when the government engineered a shotgun marriage of Bear Stearns to JP Morgan Chase by guaranteeing billion of Bear's assets and sending a signal to creditors that risky lending might come without a cost. Reinhart argues that there is a wider menu of choices available to policy makers than simply rescue or no rescue, and that it is important to take action before the crisis comes to a head.

Mar 28 2011

1hr 9mins

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Rank #2: Dyson on Heresy, Climate Change, and Science

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Freeman Dyson of the Institute for Advanced Study in Princeton talks with EconTalk host Russ Roberts about science, his career, and the future. Dyson argues for the importance of what he calls heresy--challenging the scientific dogmas of the day. Dyson argues that our knowledge of climate science is incomplete and that too many scientists treat it as if it were totally understood. He reflects on his childhood and earlier work, particularly in the area of space travel. And he says that biology is the science today with the most exciting developments.

Mar 07 2011

1hr 6mins

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Rank #3: Andresen on BitCoin and Virtual Currency

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Gavin Andresen, Principal of the BitCoin Virtual Currency Project, talks with EconTalk host Russ Roberts about BitCoin, an innovative attempt to create a decentralized electronic currency. Andresen explains the origins of BitCoin, how new currency gets created, how you can acquire BitCoins and the prospects for BitCoin's future. Can it compete with government-sanctioned money? How can users trust it? What threatens BitCoin and how might it thrive?

Apr 04 2011

57mins

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Rank #4: Coyle on the Economics of Enough

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Diane Coyle, author of The Economics of Enough, talks with EconTalk host Russ Roberts about the future and the ideas in her book. Coyle argues that the financial crisis, the entitlement crisis, and climate change all reflect a failure to deal with the future appropriately. The conversation ranges across a wide range of issues including debt, the financial sector, and the demographic challenges of an aging population that is promised generous retirement and health benefits. Coyle argues for better measurement of the government budget and suggests ways that the political process might be made more effective.

Mar 21 2011

58mins

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Rank #5: Townsend on Development, Poverty, and Financial Institutions

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Robert Townsend of MIT and the Consortium on Financial Systems and Poverty talks with EconTalk host Russ Roberts about development and the role of financial institutions in growth. Drawing on his research, particularly his surveys of households in Thailand, Townsend argues that both informal networks and arrangements and formal financial institutions play important roles in dealing with risk. Along the way, he discusses the role of microfinance in poor countries and the potential for better financial arrangements to lead to higher growth and the accumulation of wealth.

Mar 14 2011

1hr 9mins

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Rank #6: Taubes on Fat, Sugar and Scientific Discovery

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Gary Taubes, author of Good Calories, Bad Calories, talks to EconTalk host Russ Roberts about what we know about the relationship between diet and disease. Taubes argues that for decades, doctors, the medical establishment, and government agencies encouraged Americans to reduce fat in their diet and increase carbohydrates in order to reduce heart disease. Taubes argues that the evidence for the connection between fat in the diet and heart disease was weak yet the consensus in favor of low-fat diets remained strong. Casual evidence (such as low heart disease rates among populations with little fat in their diet) ignores the possibilities that other factors such as low sugar consumption may explain the relationship. Underlying the conversation is a theme that causation can be difficult to establish in complex systems such as the human body and the economy.

Nov 21 2011

1hr 22mins

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Rank #7: Baumeister on Gender Differences and Culture

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Roy Baumeister of Florida State University and the author of Is There Anything Good About Men talks with EconTalk host Russ Roberts about the differences between men and women in cultural and economic areas. Baumeister argues that men aren't superior to women nor are women superior to men. Rather there are some things men are better at while women excel at a different set of tasks and that these tradeoffs are a product of evolution and cultural pressure. He argues that evolutionary pressure has created different distributions of talent for men and women in a wide variety of areas. He argues that other differences in outcomes are not due to innate ability differences but rather come from different tastes or preferences.

Nov 14 2011

1hr 16mins

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Rank #8: Kaplan on the Inequality and the Top 1%

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Steven Kaplan of the University of Chicago talks with EconTalk host Russ Roberts about the richest Americans and income inequality. Drawing on work with Joshua Rauh, Kaplan talks about the composition of the richest 1% and 1/10 of 1%--what proportions come from the financial sector, CEOs from non-financial corporations, athletes, lawyers and so on. Then he discusses how the incomes of these different groups have changed over time. Kaplan argues that these groups have increased their incomes by similar proportions, suggesting that a failure of corporate governance is not the explanation of rising CEO pay. The discussion closes with a discussion of the financial crisis and the compensation in the financial sector.

Nov 07 2011

1hr 6mins

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Rank #9: Avent on Cities, Urban Regulations, and Growth

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Ryan Avent of the Economist and author of The Gated City talks with EconTalk host Russ Roberts about The Gated City and how cities have restricted access to land and housing. Avent argues that restricted access has raised housing prices artificially on both the east and west coast of the United States, reducing urban populations and restricting access to labor markets. He argues that this in turn has artificially depressed growth in the United States by keeping workers from their most productive opportunities. The conversation closes with a discussion of possible policy changes that might make cities more accessible to development and growth.

Oct 31 2011

1hr 5mins

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Rank #10: Ramey on Stimulus and Multipliers

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Valerie Ramey of the University of California, San Diego talks with EconTalk host Russ Roberts about the effect of government spending on output and employment. Ramey's own work exploits the exogenous nature of wartime spending. She finds a multiplier between .8 and 1.2. (A multiplier of 1 means that GDP goes up by the amount of spending--there is neither stimulus nor crowding out.) She also discusses a survey looking at a wide range of estimates by others and finds that the estimates range from .5 to 2.0. Along the way, she discusses the effects of taxes as well. The conversation concludes with a discussion of the imprecision of multiplier estimates and the contributions of recent Nobel Laureates Thomas Sargent and Christopher Sims.

Oct 24 2011

1hr 2mins

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Rank #11: Wapshott on Keynes and Hayek

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Nicholas Wapshott, author of Keynes Hayek: The Clash That Defined Modern Economics, talks with EconTalk host Russ Roberts about John Maynard Keynes and Friedrich A. Hayek--their ideas, their disagreements, their friendship and how the two men influenced economists and public policy during their lifetimes and beyond.

Oct 17 2011

1hr 8mins

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Rank #12: Frank Rose on Storytelling and the Art of Immersion

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Frank Rose, author of The Art of Immersion and correspondent for Wired Magazine, talks with EconTalk host Russ Roberts about how the web has changed the art of storytelling and the interactions between the web, advertising, games, movies, and television. Rose argues that when a new medium is introduced, whether it is the book, movies, or the web, there is always a period of exploration as to how storytelling, the author, and the audience will interact. While there have always been readers, viewers, and listeners who immerse themselves in good stories, the web allows this immersion to expand dramatically, partly because the audience can share reactions and insights with each other as well as becoming part of the creation of the story in ways that past media have not allowed. Rose chronicles these developments with specific examples and speculates on where storytelling on the web might be headed. The conversation closes with a brief discussion of the passing of Steve Jobs.

Oct 10 2011

1hr 2mins

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Rank #13: Bruce Meyer on the Middle Class, Poverty, and Inequality

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Bruce Meyer of the University of Chicago talks with EconTalk host Russ Roberts about the middle class, poverty, and inequality. Many economists and pundits argue that the middle class has made little or no economic progress over the last 30 years, that poverty rates are stagnant or rising, and that inequality has increased dramatically. Meyer, drawing on his research over the last ten years, argues that these conclusions are either false or misleading. He argues that standard measures of economic progress and inequality are based on faulty inflation data or a misplaced focus on pre-tax income instead of post-tax income or consumption.

Oct 03 2011

59mins

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Rank #14: Rosenberg on the Nature of Economics

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Alex Rosenberg of Duke University talks with EconTalk host Russ Roberts about the scientific nature of economics. Rosenberg, a philosopher of science talks about whether economics is a science. He surveys the changes in economics over the last 25 years--the rise of experimental economics and behavioral economics--and argues that economics has become more scientific and that economists have become more aware of flaws in economic theory. But he also argues that economics is unable to make precise predictions about the effects of various changes in policy and behavior. The conversation closes with a discussion of the role the philosophy of science can play in the evolution of economics.

Sep 26 2011

57mins

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Rank #15: Garett Jones on Stimulus

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Garett Jones of George Mason University talks with EconTalk host Russ Roberts about the workers who were hired with money from the 2009 American Recovery and Re-investment Act--the stimulus package. Jones (with co-author Daniel Rothschild) recently completed two studies based on surveys and interviews with firms who received stimulus funds and workers who work at those firms. They found that 42% of workers hired had been unemployed. The remainder came from other jobs or from outside the labor force such as retirement or school. Is 42% a big number or a small number? Jones argues it is small and defends his conclusion. The conversation also includes a discussion of the labor market generally and why the stimulus spending may not have been effective.

Sep 19 2011

1hr 2mins

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Rank #16: Frank on Competition, Government, and Darwin

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Robert Frank of Cornell University and author of The Darwin Economy talks with EconTalk host Russ Roberts about competition, government and the relevance of Darwin for economics. In a lively and spirited discussion, Frank argues that because people care about their relative standing with their neighbors, standard conclusions about the virtues of competition are misleading. He argues that competition is often wasteful and he suggests directions for tax policy and other forms of government intervention to take these effects into accounts.

Sep 12 2011

1hr 3mins

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Rank #17: Winston on Lawyers

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Clifford Winston of the Brookings Institution talks with EconTalk host Russ Roberts about the market for lawyers and the role of lawyers in the political process. Drawing on a new co-authored book, First Thing We Do, Let's Deregulate All the Lawyers, Winston argues that restrictions on the supply of lawyers and increases in demand via government regulation artificially boost lawyers' salaries. Deregulation of the supply (by eliminating licensing) would lower price and encourage innovation.

Sep 05 2011

1hr 1min

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Rank #18: Hanushek on Teachers

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Eric Hanushek of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the importance of teacher quality in education. Hanushek argues that the standard measures of quality--experience and advanced degrees--are uncorrelated with student performance. But some teachers consistently cover dramatically more material and teach more than others, even within a school. Hanushek presents evidence that the impact of these differences on lifetime earnings for students can be quite large. The conversation closes with a discussion of school finance and the growth of administrators within school systems.

Aug 29 2011

59mins

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Rank #19: O'Donohoe on Potato Chips and Salty Snacks

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Brendan O'Donohoe of Frito-Lay talks with EconTalk host Russ Roberts about how potato chips and other salty snacks get made, distributed, and marketed. The interview follows an hour-long tour of a local supermarket where O'Donohoe showed Roberts some of the ways that chips and snacks get displayed and marketed in a modern supermarket. The conversation is a window into a world that few of us experience or are even aware of--how modern producers and retailers make sure the shelves are stocked and their products get noticed.

Aug 22 2011

1hr 29mins

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Rank #20: Brady on the Electorate and the Elections of 2010 and 2012

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David Brady of Stanford University talks with EconTalk host Russ Roberts about the lessons of the election of 2010 and what we might expect from the elections of 2012. Brady draws on political history as well as survey results from work with colleagues Doug Rivers and Morris Fiorina to speculate about the elections of 2012. Along the way he discusses the power of the independent vote, how ObamaCare affected the election of 2010, and the prospects for the Republican nominee in 2012. Taped a few days before the deal on the debt was reached, Brady gives his thoughts on the politics of the negotiations. The conversation concludes with a discussion of whether Obama will have a primary challenger.

Aug 15 2011

1hr 7mins

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