EconTalk

Pallotta on Charity and the Culture of the Non-Profit Sector

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 17 Jun 2013 06:30:00 EST

Dan Pallotta, Chief Humanity Officer of Advertising for Humanity and author of Uncharitable talks with EconTalk host Russ Roberts about the ideas in his book. Pallotta argues that charities are deeply handicapped by their culture and how we view them. The use of overhead as a measure of effectiveness makes it difficult for charities to attract the best talent, advertise, and invest for the future. Pallotta advocates a new culture for non-profits that takes the best aspects of the for-profit sector to enhance the mission and effectiveness of charities.

Schneier on Power, the Internet, and Security

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 10 Jun 2013 06:30:00 EST

Bruce Schneier, author and security guru, talks with EconTalk host Russ Roberts about power and the internet. Schneier argues that the internet enhances the power of the powerless but it also enhances the power of the powerful. He argues that we should be worried about both corporate and government uses of the internet to enhance their power. Recorded before news of the PRISM system and the use of Verizon's customer information by the NSA (National Security Agency), Schneier presciently worries about government surveillance that we are not aware of and explains how governments--democratic and totalitarian--can use the internet to oppress their citizens. The conversation closes with a discussion of terrorism and the costs of the current system for reducing the probability of a terrorist attack.

Kling on the Three Languages of Politics

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 03 Jun 2013 06:30:00 EST

Arnold Kling, author of The Three Languages of Politics, talks with EconTalk host Russ Roberts about the ideas in the book. Kling argues that Progressives, Conservatives, and Libertarians each have their own language and way of looking at the world that often doesn't overlap. This makes it easier for each group to demonize the others. The result is ideological intolerance and incivility. By understanding the language and mindset of others, Kling suggests we can do a better job discussing our policy disagreements and understand why each group seems to feel both misunderstand and morally superior to the other two.

Jim Manzi on the Oregon Medicaid Study, Experimental Evidence, and Causality

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 27 May 2013 06:30:00 EST

Jim Manzi, founder and chair of Applied Predictive Technologies, senior fellow at the Manhattan Institute, and author of Uncontrolled, talks with EconTalk host Russ Roberts about the Oregon Medicaid study and the challenges of interpreting experimental results. Manzi notes a number of interesting aspects of the study results that have generally been unnoticed--the relatively high proportion of people in the Oregon study who turned down the chance to receive Medicaid benefits, and the increase (though insignificant) in smoking by those who received Medicaid benefits under the experiment. Along the way, Manzi discusses general issues of statistical significance, and how we might learn more about the effects of Medicaid in the future.

Epstein on the Constitution

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 20 May 2013 06:30:00 EST

Richard Epstein of New York University and Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the U.S. Constitution. Topics covered in this wide-ranging conversation include how the interpretation of the Constitution has changed over time, the relationship between state and federal power, judicial activism, the increasing importance of administrative agencies' regulatory power, and political influences on the Supreme Court.

Frakt on Medicaid and the Oregon Medicaid Study

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 13 May 2013 06:30:00 EST

Austin Frakt of Boston University and blogger at The Incidental Economist talks with EconTalk host Russ Roberts about Medicaid and the recent results released from the Oregon Medicaid study, a randomized experiment that looked at individuals with and without access to Medicaid. Recent released results from that study found no significant impact of Medicaid access on basic health measures such as blood pressure and cholesterol levels, but did find reduced financial stress and better mental health. Frakt gives his interpretation of those results and the implications for the Affordable Care Act. The conversation closes with a discussion of the reliability of empirical work in general and how it might or might not affect our positions on social and economic policy.

Bernstein on Communication, Power and the Masters of the Word

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 06 May 2013 06:30:00 EST

William Bernstein talks with EconTalk host Russ Roberts about his latest book, Masters of the Word. Bernstein traces the history of language, writing, and communication and its impact on freedom. The discussion begins with the evolution of language and the written word and continues up through radio and the internet. A particular focus of the conversation is how tyrants use information technology to oppress their people but at the same time, technology can be used to liberate people from oppression.

Galbraith on Inequality

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 29 Apr 2013 06:30:00 EST

James Galbraith of the University of Texas and author of Inequality and Instability talks with EconTalk host Russ Roberts about inequality. Galbraith argues that much of the mainstream analysis of inequality in the economics literature is flawed. Galbraith looks at a variety of different measures and ways of analyzing income data. In the podcast he focuses on how much of measured inequality is due to changes in specific counties or industries. Other topics discussed include the state of economics in the aftermath of the Great Recession and the importance of the government safety net and other social legislation.

Glaeser on Cities

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 22 Apr 2013 06:30:00 EST

Edward Glaeser of Harvard University and author of The Triumph of Cities talks with EconTalk host Russ Roberts about American cities. The conversation begins with a discussion of the history of Detroit over the last century and its current plight. What might be done to improve Detroit's situation? Why are other cities experiencing similar challenges to those facing Detroit? Why are some cities thriving and growing? What policies might help ailing cities and what policies have helped those cities that succeed? The conversation concludes with a discussion of why cities have such potential for growth.

Sachs on the Crisis, the Recovery, and the Future

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 15 Apr 2013 06:30:00 EST

Jeffrey Sachs of Columbia University and author of The Price of Civilization talks with EconTalk host Russ Roberts about the state of the American economy. Sachs sees the current malaise as a chronic problem rather than a short-term challenge caused by the business cycle. He lists a whole host of issues he thinks policymakers need to deal with including the environment, inequality, and infrastructure. He disagrees with the Keynesian prescriptions for stimulating the economy and believes that the federal government budget deficits are a serious problem. The conversation closes with a discussion of the state of economics.

Admati on Bank Regulation and the Bankers' New Clothes

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 08 Apr 2013 06:30:00 EST

Anat Admati of Stanford University talks with EconTalk host Russ Roberts about her new book (co-authored with Martin Hellwig), The Bankers' New Clothes. Admati argues that the best way to reduce the fragility of the banking system is to increase capital requirements--that is, require banks to finance their activities with a greater proportion of equity rather than debt. She explains how debt magnifies returns and losses while making each bank more fragile. Despite claims to the contrary, she argues that the costs of reducing debt are relatively small for society as a whole while the benefits are substantial.

Topol on the Creative Destruction of Medicine

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 01 Apr 2013 06:30:00 EST

Eric Topol of the Scripps Research Institute and the author of The Creative Destruction of Medicine talks with EconTalk host Russ Roberts about the ideas in his book. Topics discussed include "evidence-based" medicine, the influence of the pharmaceutical industry, how medicine is currently conducted for the "average" patient, the potential of genomics to improve health care and the power of technology, generally, to transform medicine.

Sumner on Money, Business Cycles, and Monetary Policy

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 25 Mar 2013 06:30:00 EST

Scott Sumner of Bentley University and blogger at The Money Illusion talks with EconTalk host Russ Roberts about the basics of money, monetary policy, and the Fed. After a discussion of some of the basics of the money supply, Sumner explains why he thinks monetary policy in the United States during and since the crisis has been inadequate. Sumner stresses the importance of the Fed setting expectations and he argues for the dominance of monetary policy over fiscal policy.

Burgin on Hayek, Friedman, and the Great Persuasion

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 18 Mar 2013 06:30:00 EST

Angus Burgin of Johns Hopkins University and the author of The Great Persuasion talks with EconTalk host Russ Roberts about the idea in his book--the return of free market economics in the aftermath of the Great Depression. Burgin describes the reaction to Hayek's Road to Serfdom, the creation of the Mont Pelerin Society, and the increasing influence of Milton Friedman on public policy.

Searls on the Intention Economy

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 11 Mar 2013 06:30:00 EST

Doc Searls, author of The Intention Economy and head of Project VRM at Harvard University's Berkman Center talks with EconTalk host Russ Roberts about the how the relationship between buyers and sellers might evolve as the internet evolves. Searls imagines a world where buyers would advertise their intentions and desires and sellers would respond with offers. Other topics discussed include Google and Apple's business strategies and the role of the cable and telephone companies in providing access to the internet.

Leigh Steinberg on Sports, Agents, and Athletes

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 04 Mar 2013 06:30:00 EST

Leigh Steinberg, legendary sports agent, talks with EconTalk host Russ Roberts about his career as a sports agent. He discusses the challenges of building a clientele, how sports agents spend their time, strategies for building a brand as an athlete, and safety issues currently affecting the National Football League.

Varoufakis on Valve, Spontaneous Order, and the European Crisis

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 25 Feb 2013 06:30:00 EST

Yanis Varoufakis of the University of Athens, the University of Texas, and former economist-in-residence at Valve Software talks with EconTalk host Russ Roberts about the unusual structure of the workplace at Valve. Valve, a software company that creates online video games, has no hierarchy or bosses. Teams of software designers join spontaneously to create and ship video games without any top-down supervision. Varoufakis discusses the economics of this Hayekian workplace and how it actually functions alongside Steam--an open gaming platform created by Valve. The conversation concludes with a discussion of the economic crisis in Europe.

Glenn Reynolds on Politics, the Constitution, and Technology

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 18 Feb 2013 06:30:00 EST

Glenn Reynolds of the University of Tennessee and blogger at Instapundit talks with EconTalk host Russ Roberts about the political malaise in America, whether it could lead to a Constitutional Convention, and what might emerge were such an event to occur. Reynolds also gives his thoughts on the suggestion advanced in a recent episode of EconTalk that we should ignore the Constitution. The conversation concludes with Reynolds's views on the decentralizing power of technology and Reynolds's music career.

Cathy O'Neil on Wall St and Occupy Wall Street

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 11 Feb 2013 06:30:00 EST

Cathy O'Neil, data scientist and blogger at mathbabe.org, talks with EconTalk host Russ Roberts about her journey from Wall Street to Occupy Wall Street. She talks about her experiences on Wall Street that ultimately led her to join the Occupy Wall Street movement. Along the way, the conversation includes a look at the reliability of financial modeling, the role financial models played in the crisis, and the potential for shame to limit dishonest behavior in the financial sector and elsewhere.

Seidman on the Constitution

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 04 Feb 2013 06:30:00 EST

Louis Michael Seidman of Georgetown University talks with EconTalk host Russ Roberts about the United States Constitution. Seidman argues that the we should ignore the Constitution in designing public policy, relying instead on the merits of policy regardless of their constitutionality. Seidman defends his position by citing examples in the past where constitutionality has been ignored and says it would be better to recognize our disdain for the Constitution in a transparent way. In this lively conversation, Roberts pushes back against these ideas, citing the limits of reason and the dangers of using popular sentiment to determine policy.

Boettke on Living Economics

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 28 Jan 2013 06:30:00 EST

Peter Boettke of George Mason University talks with EconTalk host Russ Roberts about his book, Living Economics. Boettke argues for embracing the tradition of Smith and Hayek in both teaching and research, arguing that economics took a wrong turn when it began to look more like a branch of applied mathematics. He sees spontaneous order as the central principle for understanding and teaching economics. The conversation also includes a brief homage to James Buchanan who passed away shortly before this interview was recorded.

Kelly on the Future, Productivity, and the Quality of Life

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 21 Jan 2013 06:30:00 EST

Kevin Kelly talks with EconTalk host Russ Roberts about measuring productivity in the internet age and recent claims that the U.S. economy has entered a prolonged period of stagnation. Then the conversation turns to the potential of robots to change the quality of our daily lives.

Esther Dyson on the Attention Economy and the Quantification of Everything

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 14 Jan 2013 06:30:00 EST

Esther Dyson talks with EconTalk host Russ Roberts about the market for attention and how technology has changed, how much we pay attention to others, and vice versa. Along the way Dyson reminisces about Steve Jobs, the nature of the start-up and venture capital world, and the future of space travel.

Jerven on Measuring African Poverty and Progress

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 07 Jan 2013 06:30:00 EST

Morten Jerven of Simon Fraser University, author of Poor Numbers, talks with EconTalk host Russ Roberts about the quality of data coming out of Africa on income, growth, and population. Jerven argues that the inconsistency of the numbers and methodology both across countries and within a country across time, makes many empirical studies of African progress meaningless. The conversation closes with a discussion of what might be done to improve data collection in poor countries.

Pettit on the Prison Population, Survey Data and African-American Progress

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 31 Dec 2012 06:30:00 EST

Becky Pettit of the University of Washington and author of Invisible Men talks with EconTalk host Russ Roberts about the growth of the prison population in the United States in recent decades. Pettit describes the magnitude of the increase particularly among demographic groups. She then discusses the implications of this increase for interpreting social statistics. Because the prison population isn't included in the main government surveys used by social scientists, data drawn from those surveys can be misleading as to what is actually happening among demographic groups, particularly the African-American population.

Lisa Turner on Organic Farming

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 24 Dec 2012 06:30:00 EST

Lisa Turner of Laughing Stock Farm talks with EconTalk host Russ Roberts about life as a small organic farmer. She describes her working day, the challenges of farming, the role of the U.S. Department of Agriculture in her life and what some job applicants who want to work on her farm need to understand about business.

Boudreaux on Reading Hayek

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 17 Dec 2012 06:30:00 EST

Don Boudreaux of George Mason University talks with EconTalk host Russ Roberts about the work of F. A. Hayek, particularly his writings on philosophy and political economy. Boudreaux provides an audio annotated bibliography of Hayek's most important books and essays and gives suggestions on where to start and how to proceed through Hayek's works if you are a beginner.

Chris Anderson on Makers and Manufacturing

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 10 Dec 2012 06:30:00 EST

Chris Anderson, author of Makers: The New Industrial Revolution, talks with EconTalk host Russ Roberts about his new book--the story of how technology is transforming the manufacturing business. Anderson argues that the plummeting prices of 3D printers and other tabletop design and manufacturing tools allows for individuals to enter manufacturing and for manufacturing to become customized in a way that was unimaginable until recently. Anderson explores how social networking interacts with this technology to create a new world of crowd-sourced design and production.

Mulligan on Redistribution, Unemployment, and the Labor Market

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 03 Dec 2012 06:30:00 EST

Casey Mulligan of the University of Chicago and the author of The Redistribution Recession, talks with EconTalk host Russ Roberts about the ideas in the book. Mulligan argues that increases in the benefits available to unemployed workers explains the depth of the Great Recession that began in 2007 and the slowness of the recovery particularly in the labor market. Mulligan argues that other macroeconomic explanations ignore the microeconomic incentives facing workers and employers.

Angell on Big Pharma

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 26 Nov 2012 06:30:00 EST

Marcia Angell of Harvard Medical School and the author of The Truth About the Drug Companies talks with EconTalk host Russ Roberts about the impact of pharmaceutical companies on academic research, clinical trials and the political process. Angell argues that the large pharmaceutical companies produce little or no innovation and use their political power to exploit consumers and taxpayers.

Cochrane on Health Care

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 19 Nov 2012 06:30:00 EST

John Cochrane of the University of Chicago and Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about how existing regulations distort the market for health care. Cochrane argues that many of the problems in the health care market would go away if these distortions were removed. In this conversation, he explores how the market for health care might work in the United States without those distortions. He also addresses some of the common arguments against a more choice-oriented less top-down approach.

Munger on John Locke, Prices, and Hurricane Sandy

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 12 Nov 2012 06:30:00 EST

Mike Munger of Duke University talks with EconTalk host Russ Roberts about the gas shortage following Hurricane Sandy and John Locke's view of the just price. Drawing on a short, obscure essay of Locke's titled "Venditio," Munger explores Locke's views on markets, prices, and morality.

Joshua Rauh on Public Pensions

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 05 Nov 2012 06:30:00 EST

Joshua Rauh, Professor of Finance at Stanford University's Graduate School of Business and a senior fellow at Stanford University's Hoover Institution, talks with EconTalk host Russ Roberts about the unfunded liabilities from state employee pensions. The publicly stated shortfall in revenue relative to promised pensions is about $1 trillion. Rauh estimates the number to be over $4 trillion. Rauh explains why that number is more realistic, how the problem grew in recent years, and how the fiscal situation might be fixed moving forward. He also discusses some of the political and legal choices that we are likely to face going forward as states face strained budgets from promises made in the past to retired workers.

Hanke on Hyperinflation, Monetary Policy, and Debt

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 29 Oct 2012 06:30:00 EST

Steve Hanke of Johns Hopkins and the Cato Institute talks with EconTalk host Russ Roberts about hyperinflation and the U.S. fiscal situation. Hanke argues that despite the seemingly aggressive policies of the Federal Reserve over the last four years, there is currently little or no risk of serious inflation in the United States. His argument is that broad measures of the money supply lag well below their trend level. While high-powered reserves have indeed expanded dramatically, they have not increased sufficiently to offset reductions in bank money, in part because of requirements imposed by Basel III. So, the overall money supply, broadly defined, has fallen. Hanke does argue that the current fiscal path of the United States poses a serious threat to economic stability. The conversation closes with a discussion of hyperinflation in Iran--its causes and what might eventually happen as a result.

Rodden on the Geography of Voting

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 22 Oct 2012 06:30:00 EST

Jonathan Rodden, political science professor at Stanford and a senior fellow at the Hoover Institution speaks with EconTalk host Russ Roberts about the geography of voting. The main focus is on the tendency of urban voters around the world to vote for candidates on the left relative to suburban and rural voters. Rodden argues that this pattern is related to the geography of work and housing going back to the industrial revolution. He also discusses the implications of various voting systems such as winner-take-all vs. proportional representation, the electoral college and how political systems and voter preferences can produce unexpected outcomes.

Kling on Education and the Internet

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 15 Oct 2012 06:30:00 EST

Arnold Kling, economist and teacher, talks with EconTalk host Russ Roberts about recent technological innovations in education and Kling's forecast for their impact on learning and how they might affect traditional education. Examples include the recent explosion of online lessons and classes, new teaching styles that exploit those offerings, and the nature of learning in various kinds of classrooms and student-teacher interactions.

Garett Jones on Fisher, Debt, and Deflation

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 08 Oct 2012 06:30:00 EST

Garett Jones of George Mason University talks with EconTalk host Russ Roberts about the ideas of Irving Fisher on debt and deflation. In a book, Booms and Depressions and in a 1933 Econometrica article, Fisher argued that debt-fueled investment booms lead to liquidation of assets at unexpectedly low prices followed by a contraction in the money supply which leads to deflation and a contraction in the real side of the economy--a recession or a depression. Jones then discusses the relevance of Fisher's theory for the current state of the economy in the aftermath of the financial crisis.

Robert Skidelsky on Money, the Good Life, and How Much is Enough

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 01 Oct 2012 06:30:00 EST

Robert Skidelsky, noted biographer of John Maynard Keynes and author (with his son Edward) of the recently published How Much is Enough, talks with EconTalk host Russ Roberts about materialism, growth, insatiability, and the good life. Skidelsky argues that we work too hard and too long. He argues that the good life has more leisure than we currently consume and that public policy should be structured to discourage work in wealthy countries where work can still be uninspiring. Skidelsky criticizes the discipline of economics and economists for contributing to an obsession with growth to the detriment of what he says are more meaningful and life-enhancing policy goals.

Frank and Roberts on Infrastructure

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 24 Sep 2012 06:30:00 EST

Robert Frank of Cornell University and EconTalk host Russ Roberts debate the merits of a large increase of infrastructure spending. In the summer of 2012, Frank and Roberts were interviewed by Alex Blumberg of NPR's Planet Money. That interview was trimmed to ten minutes for a Planet Money podcast. This is the entire conversation. Frank argues that a trillion increase in infrastructure spending, where the projects are decided by a bipartisan commission, would put people back to work and repair a near-failing system at a time when it is cheap to repair it and cheap to fund those repairs. Roberts disagrees with virtually every piece of Frank's argument. This lively conversation covers fundamental disagreements over fiscal policy, the proper role for government, and the political process.

Paul Tough on How Children Succeed

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 17 Sep 2012 06:30:00 EST

Paul Tough, author of How Children Succeed, talks with EconTalk host Russ Roberts about why children succeed and fail in school and beyond school. He argues that conscientiousness--a mixture of self-control and determination--can be a more important measure of academic and professional success than cognitive ability. He also discusses innovative techniques that schools, individuals, and non-profits are using to inspire young people in distressed neighborhoods. The conversation closes with the implications for public policy in fighting poverty.

Nosek on Truth, Science, and Academic Incentives

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 10 Sep 2012 06:30:00 EST

Brian Nosek of the University of Virginia talks with EconTalk host Russ Roberts about how incentives in academic life create a tension between truth-seeking and professional advancement. Nosek argues that these incentives create a subconscious bias toward making research decisions in favor of novel results that may not be true, particularly in empirical and experimental work in the social sciences. In the second half of the conversation, Nosek details some practical innovations occurring in the field of psychology, to replicate established results and to publicize unpublished results that are not sufficiently exciting to merit publication but that nevertheless advance understanding and knowledge. These include the Open Science Framework and PsychFileDrawer.

Barofsky on Bailouts

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 03 Sep 2012 06:30:00 EST

Neil Barofsky, author of Bailout and the former Special Inspector General for the TARP program, talks with EconTalk host Russ Roberts about his book and the government bailouts by the Bush and Obama Administrations. Barofsky recounts what he learned about how Washington works and the incentives facing politicians and bureaucrats. His book and this interview are a workshop in public choice economics. Along the way he unravels some of the acronyms of the last few years including TARP, TALF, and HAMP. The conversation concludes with lessons learned by Barofsky and what might be done in the future to prevent the corruption and ineffectiveness of past bailouts.

Roger Noll on the Economics of Sports

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 27 Aug 2012 06:30:00 EST

Roger Noll of Stanford University talks with EconTalk host Russ Roberts about the economics of sports. Noll discusses the economic effects of stadium subsidies, the labor market for athletes, the business side of college sports, competitive balance in sports leagues, safety in sports, performance-enhancing drugs, and how the role of sports in the lives of children has changed.

Ohanian on the Great Recession and the Labor Market

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 20 Aug 2012 06:30:00 EST

Lee Ohanian of UCLA talks with EconTalk host Russ Roberts about the recession, the recovery, and the state of labor market. Ohanian describes the unusual aspects of this recession and recovery in the United States as shown by the labor market and the unusual performance of hours worked, productivity, and wages. He also discusses the behavior of business investment and speculates as to why this recession and the recovery has been so different in the United States. The conversation closes with a discussion of the role of the foreclosure process in encouraging unemployment.

Frisby on Tax Reform

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 13 Aug 2012 06:30:00 EST

Tammy Frisby of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the likelihood of U.S. tax reform in the near future. Frisby reviews the changes in tax policy over the last 30 years focusing on the changes of the 1980s, looking at both the economics and politics of past changes. The conversation then turns to the present and the possible changes that might be coming as the Bush tax cuts expire on January 1, 2013.

Ober on the Ancient Greek Economy

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 06 Aug 2012 06:30:00 EST

Josiah Ober of Stanford University talks with EconTalk host Russ Roberts about the economy of ancient Greece, particularly Athens. Ober notes that the standard view of ancient Greece is that it was very poor. Drawing on various kinds of evidence, Ober argues that Greece was actually quite successful, and that the average citizen of ancient Athens lived quite well by ancient standards. He suggests two possible explanations for Greece's economic success--an openness of the political process that reduced transaction costs and encouraged human capital investment or innovation and cross-fertilization across Greek states. The conversation also explores the nature of evidence for understanding antiquity and the prospect for future discoveries pertaining to ancient Greece.

Scott Atlas on American Health Care

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 30 Jul 2012 06:30:00 EST

Scott Atlas, Senior Fellow at Stanford University's Hoover Institution and author of In Excellent Health, talks with EconTalk host Russ Roberts about the U.S. health care system. Atlas argues that the U.S. health care system is top-notch relative to other countries and that data that show otherwise rely on including factors unrelated to health care or on spurious definitions. For example, life expectancy in the United States is unexceptional. When you take out suicides and fatal car accidents, factors that Atlas argues are unrelated to the health care system, the United States has the longest life expectancy in the world. A similar change occurs when measuring infant mortality--foreign data do not include as many at-risk births as in the United States and the measure of a birth is not comparable. In a number of other areas including cancer survival rates, access to hip replacement surgery and waiting times to see a physician, Atlas argues that the United States is also at or near the top. The discussion concludes with a discussion of access to health care for the poor and the failure of Medicaid.

Brady on the 2012 US Election

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 23 Jul 2012 06:30:00 EST

David Brady, Professor of Political Science and the Graduate School of Business at Stanford University and a senior fellow at Stanford's Hoover Institution talks with EconTalk host Russ Roberts about the November elections in the United States. Brady argues that while the economy favors the challenger, Mitt Romney, current polling data gives a slight edge to President Obama in both the popular vote and the electoral college. The data all suggest that House will stay Republican and the Senate will either go slightly Republican or be tied. Brady also discusses why this may change over the next few months, the importance of the independent vote, and Romney's strategy in choosing a running mate.

Taubes on Why We Get Fat

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 16 Jul 2012 06:30:00 EST

Gary Taubes, author of Why We Get Fat, talks with EconTalk host Russ Roberts about why we get fat and the nature of evidence in a complex system. The current mainstream view is that we get fat because we eat too much and don't exercise enough. Taubes challenges this seemingly uncontroversial argument with a number of empirical observations, arguing instead that excessive carbohydrate consumption causes obesity. In this conversation he explains how your body reacts to carbohydrates and explains why the mainstream argument of "calories in/calories out" is inadequate for explaining obesity. He also discusses the history of the idea of carbohydrates' importance tracing it back to German and Austrian nutritionists whose work was ignored after WWII. Roberts ties the discussion to other emergent, complex phenomena such as the economy. The conversation closes with a discussion of the risks of confirmation bias and cherry-picking data to suit one's pet hypotheses.

Stiglitz on Inequality

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 09 Jul 2012 06:30:00 EST

Nobel Laureate Joseph Stiglitz of Columbia University talks with EconTalk host Russ Roberts about the ideas in his recent book, The Price of Inequality. Stiglitz argues that the American economy is dysfunctional, benefitting only those at the very top while the bulk of the workforce sees little or no gain in their standard of living over recent decades. Stiglitz blames this result on deregulation and the political power of the financial sector and others at the top. He wants an increase in regulation and the role of government in the economy and a more transparent Federal Reserve Bank that he blames for coddling the financial sector. The conversation also includes a discussion of the Keynesian multiplier.

Zingales on Capitalism and Crony Capitalism

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 02 Jul 2012 06:30:00 EST

Luigi Zingales of the University of Chicago and author of A Capitalism for the People talks with EconTalk host Russ Roberts about the ideas in his book. Zingales argues that the financial sector has used its political power to enhance the size of the sector and the compensations executives receive. This is symptomatic of a larger problem where special interests steer resources and favors based on their political influence. Zingales argues for a capitalism for the people rather than a capitalism for cronies or the politically powerful. The conversation concludes with a plea by Zingales to his fellow economists to speak out against behavior that is legal but immoral--lobbying Congress for special treatment that exploits others to benefit one's own industry, for example.

Moretti on Jobs, Cities, and Innovation

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 25 Jun 2012 06:30:00 EST

Enrico Moretti of the University of California, Berkeley and the author of the New Geography of Jobs talks to EconTalk host Russ Roberts about the ideas in his book. Moretti traces how the economic success of cities and the workers who live there depends on the education of those workers. Moretti argues that there are spillover effects from educated workers--increased in jobs and wages in the city. He uses changes in the fortunes of Seattle and Albuquerque over the last three decades as an example of how small changes can affect the path of economic development and suggests a strong role for serendipity in determining which cities become hubs for high-tech innovation. The conversation concludes with Moretti making the case for increasing investments in education and research and development.

Manzi on Knowledge, Policy, and Uncontrolled

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 18 Jun 2012 06:30:00 EST

Jim Manzi, author of Uncontrolled, talks with EconTalk host Russ Roberts about the reliability of science and the ideas in his book. Manzi argues that unlike science, which can produce useful results using controlled experiments, social science typically involves complex systems where system-wide experiments are rare and statistical tools are limited in their ability to isolate causal relations. Because of the complexity of social environments, even narrow experiments are unlikely to have the wide application that can be found in the laws uncovered by experiments in the physical sciences. Manzi advocates a trial-and-error approach using randomized field trials to verify the usefulness of many policy proposals. And he argues for humility and lowered expectations when it comes to understanding causal effects in social settings related to public policy.

Jonah Lehrer on Creativity and Imagine

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 11 Jun 2012 06:30:00 EST

Jonah Lehrer, staff writer for The New Yorker and author of Imagine: How Creativity Works, talks with EconTalk host Russ Roberts about the science of creativity. They discuss focusing vs. ignoring as a way to solve problems, the potential for computer-based creativity, how W. H. Auden used drugs to improve his poetry, Bob Dylan, Steve Jobs, and the creative power of mindless relaxation. The conversation closes with a discussion of what policies might increase creativity.

Yong on Science, Replication, and Journalism

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 04 Jun 2012 06:30:00 EST

Ed Yong, science writer and blogger at "Not Exactly Rocket Science" at Discover Magazine, talks with EconTalk host Russ Roberts about the challenges of science and science journalism. Yong was recently entangled in a controversy over the failure of researchers to replicate a highly-cited and influential psychology study. He discusses the issues behind the failed replication and the problem of replication in general in other fields, arguing that replication is under-appreciated and little rewarded. After a discussion of the incentives facing scientists, the conversation turns to the challenges facing science journalists when work that is peer-reviewed may still not be reliable.

Larry White on the Clash of Economic Ideas

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 28 May 2012 06:30:00 EST

Lawrence H. White of George Mason University and author of The Clash of Economic Ideas talks to EconTalk host Russ Roberts about the economists and their ideas of the past one hundred years. They discuss Keynes and Hayek, monetary policy and the Great Depression, Germany after the Second World War, the economy of India, and the future of monetary policy.

Coase on Externalities, the Firm, and the State of Economics

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 21 May 2012 06:30:00 EST

Nobel Laureate Ronald Coase of the University of Chicago talks with EconTalk host Russ Roberts about his career, the current state of economics, and the Chinese economy. Coase, born in 1910, reflects on his youth, his two great papers, "The Nature of the Firm" and "The Problem of Social Cost". At the end of conversation he discusses his new book on China, How China Became Capitalist (co-authored with Ning Wang), and the future of the Chinese and world economies.

Owen on Parenting, Money, and the First National Bank of Dad

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 14 May 2012 06:30:00 EST

David Owen, author of The First National Bank of Dad, talks with EconTalk host Russ Roberts about how to educate our children about money and finance. Owen explains how he created his own savings accounts for his kids that gave them an incentive to save and other ways to teach them about postponing gratification, investing, keeping money in perspective and other life lessons. The conversation closes with a discussion of the value of reading to your kids.

Schmidtz on Rawls, Nozick, and Justice

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 07 May 2012 06:30:00 EST

David Schmidtz of the University of Arizona talks with EconTalk host Russ Roberts about the work of John Rawls and Robert Nozick. The conversation covers the basic ideas of Rawls and Nozick on inequality and justice and the appropriate role of the state in taxation and property rights.

Taylor on Rules, Discretion, and First Principles

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 30 Apr 2012 06:30:00 EST

John Taylor of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about his new book, First Principles: Five Keys to Restoring America's Prosperity. Taylor argues that when economic policy adhere to the right basic principles such as keeping rules rather than using discretion, then the economy thrives. Ignoring these principles, Taylor argues, leads to bad economic outcomes such as recessions, inflation, or high unemployment. Taylor illustrates these ideas with a whirlwind tour of the last half century of American economic policy and history. The focus is on monetary and fiscal policy but Taylor also discusses health care reform and other policy areas. The conversation closes with a look at the likelihood that economic policy will change dramatically after 2012.

Cowen on Food

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 23 Apr 2012 06:30:00 EST

Tyler Cowen of George Mason U. and author of An Economist Gets Lunch, talks with EconTalk host Russ Roberts about food, the economics of food, and his new book. In this wide-ranging conversation, Cowen explains why American food was once a wasteland, the environmental impacts of plastic and buying local, why to stay away from fancy restaurants in the central city, and why he spent a month shopping only at an Asian supermarket while living in Northern Virginia.

Autor on Disability

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 16 Apr 2012 06:30:00 EST

David Autor of MIT talks with EconTalk host Russ Roberts about the Social Security Disability Insurance (SSDI) program. SSDI has grown dramatically in recent years and now costs about $200 billion a year. Autor explains how the program works, why the growth has been so dramatic, and the consequences for the stability of the program in the future. This is an illuminated look at the interaction between politics and economics and reveals an activity of government that is relatively ignored today but will not be able to be ignored in the future.

Burkhauser on the Middle Class

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 09 Apr 2012 06:30:00 EST

Richard Burkhauser of Cornell University talks with EconTalk host Russ Roberts about the state of the middle class. Drawing on recently published papers, Burkhauser shows that changes in the standard of living of the middle class and other parts of the income distribution are extremely sensitive to various assumptions about how income is defined as well as whether you look at tax units or households. He shows that under one set of assumptions, there has been no change in median income, but under a different and equally reasonable set of assumptions, median income has grown 36%. Burkhauser explains how different assumptions can lead to such different results and argues that the assumptions that lead to the larger growth figure are more appropriate for capturing what has happened over the last 40 years than those that suggest stagnation.

Eugene White on Bank Regulation

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 02 Apr 2012 06:30:00 EST

Eugene White of Rutgers University talks with EconTalk host Russ Roberts about the regulation of banks and financial crises. White argues that most regulation tries to limit the choices of banks to restrain them from making choices that create instability or fragility. A better approach, White argues, is to change the incentives facing bankers so that they would be encouraged to make prudent choices without the need for top-down monitoring. He shows how in the 19th century various regulations and market results encouraged stability and prudence while some regulations made the system more fragile. White discusses the lessons for the current crisis and what might be done to improve the current state of regulation.

Boudreaux on Public Debt

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 26 Mar 2012 06:30:00 EST

Don Boudreaux of George Mason University talks with EconTalk host Russ Roberts about the nature of public debt. One view is that there is no burden of the public debt as long as the purchasers of U.S. debt are fellow Americans. In that case, the argument goes, we owe it to ourselves. Drawing on the work of James Buchanan, particularly his book Public Principles of Public Debt: A Defense and Restatement, Boudreaux argues that there is a burden of the debt and it is borne by future taxpayers. Boudreaux argues that all public expenditures have a cost--the different financing mechanisms simply determine who bears the burden of that cost. Boudreaux discusses the political attractiveness of debt finance because the taxes lie in the future and those who will pay for them may not be clearly identified. The conversation closes with a discussion of the role of expectations in both politics and economics of debt finance.

Acemoglu on Why Nations Fail

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 19 Mar 2012 06:30:00 EST

Daron Acemoglu of MIT and author (with James Robinson) of Why Nations Fail talks with EconTalk host Russ Roberts about the ideas in his book: why some nations fail and others succeed, why some nations grow over time and sustain that growth, while others grow and then stagnate. Acemoglu draws on an exceptionally rich set of examples over space and time to argue that differences in institutions--political governance and the inclusiveness of the political and economic system--explain the differences in economics success across nations and over time. Acemoglu also discusses how institutions evolve and the critical role institutional change plays in economic success or failure. Along the way, he explains why previous explanations for national economic success are inadequate. The conversation closes with a discussion of the implications of the arguments for foreign aid and attempts by the wealthy nations to help nations that are poor.

Derman on Theories, Models, and Science

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 12 Mar 2012 06:30:00 EST

Emanuel Derman of Columbia University and author of Models. Behaving. Badly talks with EconTalk host Russ Roberts about theories and models, and the elusive nature of truth in the sciences and social sciences. Derman, a former physicist and Goldman Sachs quant, contrasts the search for truth in the sciences with the search for truth in finance and economics. He critiques attempts to make finance more scientific and applies those insights to the financial crisis. The conversation closes with a discussion of career advice for those aspiring to work in quantitative finance.

Calomiris on Capital Requirements, Leverage, and Financial Regulation

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 05 Mar 2012 06:30:00 EST

Charles Calomiris of Columbia University talks with EconTalk host Russ Roberts about corporate debt, capital requirements, and financial regulation. This is an in-depth conversation about how debt works on a firm's balance sheet and the risks that debt vs. equity pose for the survival of the firm. Calomiris applies these insights to financial regulation--how it works in practice and the firm's choices in responding to various interventions including bailouts and capital requirements. The conversation closes with a discussion of some of the government interventions in the financial crisis.

Weinberger on Too Big to Know

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 27 Feb 2012 06:30:00 EST

David Weinberger of Harvard University's Berkman Center for Internet & Society and author of Too Big to Know, talks with EconTalk host Russ Roberts about the ideas in the book--how knowledge and data and our understanding of the world around us are being changed by the internet. Weinberger discusses knowledge and how it is attained have changed over time, particularly with the advent of the internet. He argues the internet has dispersed the power of authority and expertise. And he discusses whether the internet is making us smarter or stupider, and the costs and benefits of being able to tailor information to one's own interests and biases.

Adam Davidson on Manufacturing

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 20 Feb 2012 06:30:00 EST

Adam Davidson of NPR's Planet Money talks with EconTalk host Russ Roberts about manufacturing. Based on an article Davidson wrote for The Atlantic, the conversation looks at the past, present, and future of manufacturing. Davidson visited an after-market auto parts factory in Greenville, South Carolina and talked with employees there as well as with executives at corporate headquarters. What is the future of factory work in America? Why are some manufacturing jobs in America while others are in China or elsewhere? The conversation looks at these questions as well as how well or poorly the U.S. education system prepares students for the world of work.

David Owen on the Environment, Unintended Consequences, and The Conundrum

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 13 Feb 2012 06:30:00 EST

David Owen of the New Yorker and author of The Conundrum talks with EconTalk host Russ Roberts about the ideas in his book. Owen argues that innovation and energy innovation have increased energy use rather than reduced it and similarly, other seemingly green changes do little to help the reduce humanity's carbon footprint or are actually counter-productive. Only large reductions in consumption are likely to matter and that prescription is unappealing to most people. Owen points out that New York City, ironically perhaps, is one of the greenest places to live because of the efficiencies of density. The conversation concludes with a discussion of how to best approach global warming given these seeming realities.

William Black on Financial Fraud

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 06 Feb 2012 06:30:00 EST

William Black of University of Missouri-Kansas City and author of The Best Way to Rob a Bank Is to Own One, talks with EconTalk host Russ Roberts about financial fraud, starting with the Savings and Loan debacle up through the current financial crisis. Black explains how bank executives can use fraudulent loans to inflate the size of their bank in order to justify large compensation packages. He argues that "liar loans" were a major part of the crisis and that policy changes made it easy to generate such loans without criminal repercussions.

Fama on Finance

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 30 Jan 2012 06:30:00 EST

Eugene Fama of the University of Chicago talks with EconTalk host Russ Roberts about the evolution of finance, the efficient market hypothesis, the current crisis, the economics of stimulus, and the role of empirical work in finance and economics.

David Rose on the Moral Foundations of Economic Behavior

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 23 Jan 2012 06:30:00 EST

David Rose of the University of Missouri, St. Louis and the author of The Moral Foundation of Economic Behavior talks with EconTalk host Russ Roberts about the book and the role morality plays in prosperity. Rose argues that morality plays a crucial role in prosperity and economic development. Knowing that the people you trade with have a principled aversion to exploiting opportunities for cheating in dealing with others allows economic actors to trust one another. That in turn allows for the widespread specialization and interaction through markets with strangers that creates prosperity. In this conversation, Rose explores the nature of the principles that work best to engender trust. The conversation closes with a discussion of the current trend in morality in America and the implications for trust and prosperity.

Taleb on Antifragility

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 16 Jan 2012 06:30:00 EST

Nassim Taleb, author of Fooled By Randomness and The Black Swan, talks with EconTalk host Russ Roberts about antifragility, the concept behind Taleb's next book, a work in progress. Taleb talks about how we can cope with our ignorance and uncertainty in a complex world. Topics covered include health, finance, political systems, the Fed, your career, Seneca, shame, heroism, and a few more.

Dean Baker on the Crisis

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 09 Jan 2012 06:30:00 EST

Dean Baker of the Center for Economic Policy and Research talks with EconTalk host Russ Roberts about the financial crisis. Baker sees the crisis as part of a broader set of phenomena--rising inequality and declining unionization. Baker is highly critical on both economic and political grounds of the policy attempts to stimulate the economy as well as the governance structure of the Federal Reserve. The conversation closes with a discussion of potential innovations to lower the budgetary cost of health care.

Sumner on Money and the Fed

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 02 Jan 2012 06:30:00 EST

Scott Sumner of Bentley University and the blog The Money Illusion talks with EconTalk host Russ Roberts about the state of monetary policy, the actions of the Federal Reserve over the past two years and the state of the economy. Sumner argues that monetary policy has been too tight and helped create the crisis. He disputes the relevance of the so-called liquidity trap and argues that aggressive monetary policy is both possible and desirable. The conversation closes with a discussion of what we have learned and failed to learn during the crisis.

Munger on Price Gouging

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 8 Jan 2007 12:15:00 EST

Mike Munger of Duke University recounts the harrowing (and fascinating) experience of being in the path of a hurricane and the economic forces that were set in motion as a result. One of the most important is the import of urgent supplies when thousands of people are without electricity. Should prices be allowed to rise freely or should the government restrict prices? Listen in as Munger and EconTalk host Russ Roberts discuss the human side of economics after a catastrophe.

Friedman on Capitalism and Freedom

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 4 Sep 2006 07:25:00 EST

Russ Roberts talks to Milton Friedman about the radical ideas he put forward almost 50 years ago in Capitalism and Freedom. Listen to the most influential economist of the past 50 years discuss the principles of liberty, social responsibility of business, the inertia behind bad legislation and his career as economist and public intellectual.

Milton Friedman on Money

webmaster@econlib.org (EconTalk, Russ Roberts, Library of Economics and Liberty) — Mon, 28 Aug 2006 07:30:00 EST

Russ Roberts talks with Milton Friedman about his research and views on inflation, the Federal Reserve, Alan Greenspan and Ben Bernanke, and what the future holds.