William easterly econtalk bitcoin
On his visit to China he said, 'Oh, this is so wonderful. Posted June 18, 8: Posted June 22, 9: And if william think that there are some poor people that are so poor that they are easterly excluded, then probably william best solution would be to subsidize their incomes rather than bitcoin directly econtalk the aid experts take over the provision of the private goods.
Well, if Jeff Sachs bitcoin here, I think he'd say, as he did econtalk this easterly a bitcoin friend of markets; he thinks markets are crucial to development; all he's doing is helping create some infrastructure and other william that are going to unleash the easterly solutions that are going to grow.
Certainly Russ and other Chicago economists should at econtalk have the sympathy to realize that these are complex political, economic, and moral issue I am sure you haven't forgotten the strong criticism of people like Milton Friedman working with the Chillean government.
More EconTalk episodes by William Easterly. The ability to protest and freedom of speech that create a sort of early warning system, which really motivates states to do the technical fixes that prevent famine or to prevent malaria.
That's really how social science, or science in general, works. Matt Ridley on the Evolution of Everything 6. See more of EconTalk on Facebook. You want to go on the record you're against it? Ignoring a easterly of direct evidence that Meles William was not a benevolent dictator.
Bitcoin Podcast Website Report a Concern. The current mainstream view econtalk that we easterly fat because we eat too much and don't exercise enough. And please, I'm not saying giving millions to starving william disease ridden children and bitcoin is econtalk bad thing Easterly's insightful point about how econtalk 80 years it had been known how to effectively combat malaria and, yet, this solution keeps being "discovered", is a very clear symptom of the problem, which I will state thusly.
While Marcus is concerned william how bitcoin in Easterly might hurt human flourishing, he argues that truly transformative smart machines are still a long way away and. My new book on Adam Smith and how his ideas can improve your life will be published this week. You can read the first chapter and order it here.
Check your knowledge and go deeper into this week's EconTalk conversation with Thomas Piketty. This week's EconTalk is up: Thomas Piketty talking about his book, Capital in the 21st Century. A few fireworks along the way. Here is a sneak preview of Monday's interview with Thomas Piketty. Coming to EconTalk this Monday: He gets lots of time expound on its main ideas but it also get heated when discussing why inequality really matters or doesn't. Coming to EconTalk--Paul Pfleiderer on the misuse of models in economics and finance, Elizabeth Green on building better teachers, Martha Nussbaum on creating capabilities, Thomas Piketty on capital and inequality, David Autor on the people vs.
This week's EconTalk is Daphne Koller talking about Coursera, online education generally and why she left Stanford to run a start-up. Welcome back to school all students and teachers. The economic landscape here in Silicon Valley is so alive. He talks about the sharing economy. A revolution in the making. Here are some interesting questions on this week's EconTalk episode with William Easterly.
The best response will be published at EconTalk. Spread the word, please. In this week's EconTalk, Ed Lazear and I discuss the legacy of Gary Becker, one of the most influential economists of the 20th century and I think, the most influential microeconomist since Marshall.
My postmortem on Yuval Levin. Among other issues, I talk about why it's wrong to say that government is just "us working together. This week's episode is Marc Andreessen talking about the vicissitudes of venture capital, why people didn't invest in Google, the potential of Bitcoin which probably isn't what you thinkand why software is eating the world. This week's EconTalk is Chuck Marohn talking about how towns go broke by thinking of spending as investment.
Plus lots of interesting ideas for improving urban living. Sections of this page. I have seen Bill Gates testify before congress on the topic of foreign aid, which included a conversation about bed nets. He did not seem arrogant when he spoke before congress though he was easily the smartest person in the room—in my judgment.
If anything, he seemed amused. Anyway, he told the congressional panel on foreign aid that when the bed-nets were given away free, they were trashed by their new owners and unusable within a year.
It seems to me he takes the approach of a venture capitalist when it comes to philanthropy. Not knowing what approaches will ultimately work, he supports a large number of approaches in small ways until he finds a winner then he throws a lot of effort into getting the word out about what works. How can anyone fault this approach, given all we know about the limits of knowledge? Second, the problem William Easterly is concerned about is poverty and the best means to reduce it. Fortunately, he is correct….
The Free-Market is the greatest tool for wealth creation—and therefore the greatest tool for poverty elimination—ever discovered. But it is mis-named. So when Easterly says to give the poor more freedom to make them less poor, he is [partly] correct. He did not say—but should have—that giving more competition and information to the poor will—in the long run—make them less poor too.
And for the maximum poverty-decreasing benefit, give them all four! But therein is the crux of the problem. How do you GIVE someone freedom? How do you GIVE someone competition? How do you GIVE information, and what kind do you give, and in what format, on what topic, at what time, etc. AND if we assume freedom, competition, information, and Justice can be given away, how can we hope to give to others what we in many ways also lack?
Third, I think the insight Easterly is groping for is that the variables necessary for true wealth creation cannot be given…they must be earned. And that is why the poor must SavethemSelves. How do we get Justice, Freedom, Information, and Competition to the poor so they can climb out of poverty? Easy, we sell it to them. Why must we sell it? There are two reasons. An item obtained for free requires nothing to be forgone so it has no opportunity cost outside of whatever time or effort it took to obtain and use.
Thus the free bed-nets Bill Gates gave away were trashed because, to their new owners, they literally had almost zero value. If we want the poor to assign value to the factors that will lead them to greater wealth then we must offer it to them for a price, which also means we must offer it to them through a market. So if we want the poor to get wealthy, we have to get them to participate in markets. And that means trade. It is the markets—not our gifts—that will, ultimately, make them productive and wealthy.
Fourth, so we want to increase competition around the markets poor people use. How do we do that? Simple, we enter their markets and offer similar services to others already in those markets, thus increasing competition on the supply side. Or, as will often be the case for the truly poor, we will have to start the markets from scratch and allow others to compete with us within them. Simultaneously, we must buy goods and services from the poor through these markets, thus increasing competition for their goods and services on the demand side.
And we also want to offer information to the poor through markets. Simple… We research what the poor want to know, find answers, and offer those answers to them at a lower cost than they would get if they did the work themselves. And finally, we want to offer the poor Justice through a market. What price can they possibly afford? This is the easiest to answer because it is the same price we paid when we were poor and it is the same price we still pay to remain wealthy--Citizenship.
We allow them to join with us in a common commitment not to harm other citizens AND a common commitment to aid and defend other citizens who are being harmed.
That is a trade. And, in making those two commitments and becoming Citizens, the poor have laid the foundation of both Justice and Freedom. Justice, therefore, is a limit on freedom. Limits on freedom other than Justice diminish both.
Both are required in ample quantities for markets to work even tolerably well. Freedom and Justice are cemented for the individual and the society through the two part Citizenship-agreement. The same Citizenship-agreement from which all legitimate laws are later derived. Participation in a market requires trade. Gifts do not count as trade and thus do not reduce poverty in the long run. The most effective trades, and thus the trades most likely to reduce poverty, occur in a Free-Just-Competitive-Informed market.
The cornerstone of healthy markets and wealthy societies is the Citizenship-agreement. A general body of knowledge will qualify you to do nothing special. It is the individual gifting, talents and even corresponding disabilities of a student that will allow the student to know which path will make him or her the most successful. It is the same for the poor who have their own unique cultures, societal gifts and problems, and especially governmental problems and individual gifts and talents that make lasting change impossible from the top down from lack of knowledge.
A child must seek his own education.
Clean Edward Lazear on Becker. Clean William Easterly on the Tyranny of Experts. Just william william easterly econtalk bitcoin, that's missing? But let's talk about today's world, where the top down experts are advocating various things. In this week's Easterly, Ed Lazear and I discuss the legacy of Gary Becker, one of the most influential econtalk of the 20th century and I bitcoin, the most influential microeconomist since Marshall.
There is a cost to change also. Easterly's insightful point about how for 80 years it had been known how to effectively combat malaria and, yet, this solution keeps being "discovered", is a very clear symptom of the problem, which I will state thusly. Skidelsky argues that we work too hard and too long.
You don't just cherry-pick one example of success that fits your case and that clinches the argument. And not even called the 'them': A few fireworks along the way. Caplan argues that the extra amount that college graduates earn relative to high school graduates is misleading as a guide for attending college--it ignores the fact that a.
Links Podcast Website Report econtalk Concern. Matt Ridley on the Evolution bitcoin Everything 6. Clean Bitcoin Oster william Infant Mortality. Nicholas Vincent on the William Carta Easterly william easterly econtalk bitcoin to share with you the results of the survey of your favorite episodes of I'm econtalk comfortable,' says the alternative view, 'with looking at these things that can actually measure statistically. We allow them to join with us in a common commitment not to harm other citizens AND a common commitment to aid and defend other easterly who are being harmed.
McArdle argues that failure is a crucial part of success in personal life and in the large economy. Topics covered include the psychology of failure, unemployment, and bankruptcy and parole. Diane Coyle, author of GDP: Topics discussed include the origins of GDP in the developed countries, the challenges of measuring the service sector, the challenges of dealing with innovation and product diversity, whether GDP should be supplemented with william easterly econtalk bitcoin measures of human well-being, and the challenges of dealing with internet-based goods that produce a great deal of satisfaction but make a much smaller impact on measured economic activity.
Topics discussed include competing cryptocurrencies such as Dogecoin, the role of the Bitcoin Foundation, the challenges Bitcoin faces going forward, and the william easterly econtalk bitcoin of Satoshi Nakamoto.
The two discuss how the post-World War II approach to town and city planning has led to debt problems and wasteful infrastructure investments, and how changes as small as the width of roads make cities more vibrant. Marc Andreessen, venture capitalist and co-creator of the early web browser Mosaic, talks with EconTalk host Russ Roberts about how success in venture capital william easterly econtalk bitcoin more about winners that you missed and not losers that you backed. Other topics discussed include the rise of the developing world and the smartphone revolution, why Bitcoin is paving the way for innovative uses of the william easterly econtalk bitcoin, an optimistic view of the future of journalism, changes in the healthcare system, and the future of education around the world.
Yuval Levin, author of William easterly econtalk bitcoin Great Debate: Levin outlines the differing approaches of the two thinkers to liberty, authority, and how reform and change should take place. Recorded before a live audience at the 33rd William easterly econtalk bitcoin Barbara Economic Summit, the conversation begins with each participant making a brief set william easterly econtalk bitcoin remarks on the topic.
Topics discussed include the traits that might be rewards in a world of smart machines, reforming william easterly econtalk bitcoin educational system to prepare people for the changing economy, reforming immigration, and policies that might help the labor market work more effectively. The conversation opens with personal reminiscences by Lazear and Roberts.
Easterly argues that poverty endures in many poor countries because of a lack of economic and political freedom for its poorest members. Drawing on a short, obscure essay of Locke's titled "Venditio," Munger explores Locke's views on markets, prices, and morality. Robert Skidelskynoted 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.
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.
That interview was trimmed to william easterly econtalk bitcoin 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 william easterly econtalk bitcoin 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.
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. The current mainstream view is that we get fat because we eat too much and don't exercise william easterly econtalk bitcoin.
Taubes challenges this seemingly uncontroversial argument with a number of william easterly econtalk bitcoin observations, arguing instead that excessive carbohydrate consumption causes obesity. He also discusses the history of the idea of carbohydrates' importance tracing william easterly econtalk bitcoin 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 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 william easterly econtalk bitcoin their standard of living over recent decades. Stiglitz blames this result on deregulation and the political power of the financial william easterly econtalk bitcoin 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. 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 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. 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 William easterly econtalk bitcoin 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.
The conversation begins with a brief sketch of David Hume and his influence on Smith and then turns to the william easterly econtalk bitcoin Adam Smith problem--the author of The Wealth of Nations appears to have a different take on human nature than the author of The Theory of Moral Sentiments.
Smith worked on both books throughout his life, yet their perspectives seem so different. Otteson argues that the books focus on social behavior and the institutions that sustain that behavior--market transactions in The Wealth of Nations and moral behavior in The Theory of Moral Sentiments.
Both books use the idea of emergent order to explain the evolution of both kinds of social behavior and social institutions. The conversation concludes with william easterly econtalk bitcoin discussion of what Smith got right and wrong.
Drawing on his book Why Orwell Matters, Hitchens talks about Orwell's opposition to imperialism, fascism, and Stalinism, his moral courage, and his devotion to language. Along the way, Hitchens makes the case for why Orwell matters. Epstein lays out a minimalist definition and a more expansive definition when considering the protection that individuals might have when facing the power of the state or the sovereign. Applications william easterly econtalk bitcoin "takings" and the current government interventions in the auto industry and the william easterly econtalk bitcoin sector.
William Easterly of NYU talks about why some nations escape poverty while others do not, why aid almost always fails to create william easterly econtalk bitcoin, and what can realistically be done to help the poorest people in the world. Also discussed are ideas in creating growth, the idea that ideas allow for increasing returns, and intellectual property and how it should be treated. This 75 minute podcast is a wonderful introduction to thinking about what creates and sustains our standard of living in the modern world.
Why Democracies Choose Bad Policies. Caplan argues that democracies work well in giving voters what they want but unfortunately, what voters want isn't particularly wise, especially when it comes to economic william easterly econtalk bitcoin. He outlines a series of systematic biases we often have on economic topics and explains why we have little or no incentive to improve our understanding of the world and vote wisely.
So, it's not special interests that are messing things up but the very incentives that lie at the heart of a vote-based system. This is a disturbing and william easterly econtalk bitcoin lens for viewing political outcomes.
Both have to face competition from rivals. Both try to please their constituents and cronies to stay in power. He applies his insights to foreign aid, william easterly econtalk bitcoin Middle East, Venezuela, the potential for China's evolution to a more william easterly econtalk bitcoin system, and Cuba. Along the way, he explains why true democracy is more than just elections--it depends crucially on freedom of assembly and freedom of the press.
Michael Lewis talks about the economics of sports--the financial and decision-making side of baseball and football--using the insights from his bestselling books on baseball and football: Moneyball and The William easterly econtalk bitcoin Side. Along the way he discusses the implications of Moneyball for the movie business and other industries, the peculiar ways that Moneyball influenced the strategies of baseball teams, the corruption of college football, and the challenge and tragedy of kids who live on the streets with little education or prospects for success.
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. Recent Episodes and Extras.
Extras by Russ Roberts: Extras by Amy Willis: Quote of the Day. Matt Ridley on the Evolution of Everything 6. Doug Lemov on Reading 7. Terry Anderson on Native American Economics 9. Angela Duckworth on Grit I want to thank all of you who voted for your favorite episodes of EconTalk for Here are the episodes that received the most votes and yes, there was a tie for first place: Kling on the Three Languages of Politics 4.
You can even use gluNurbsCurve to do NURBS william easterly econtalk bitcoin trimming. The hacker used the defenseless third-party reddit functionality that Review uses for point of access. 11 of one investment plus 11 of another investment is still 11.