EconTalk

Journalist and author Ben Cohen talks about his book, The Hot Hand, with EconTalk host Russ Roberts. At times in sports and elsewhere in life, a person seems to be "on fire," playing at an unusually high level. Is this real or an illusion? Cohen takes the listener through the scientific literature on this question and spreads a very wide net to look at the phenomenon of being in the zone outside of sports. Topics include Shakespeare, investing, Stephen Curry, and asylum judges.

John Kay and Mervyn King talk about their book, Radical Uncertainty, with EconTalk host Russ Roberts. This is a wide-ranging discussion based on the book looking at rationality, decision-making under uncertainty, and the economists' view of the world.

Nassim Nicholas Taleb talks about the pandemic with EconTalk host Russ Roberts. Topics discussed include how to handle the rest of this pandemic and the next one, the power of the mask, geronticide, and soul in the game.

Economist and author Glenn Loury of Brown University talks about race in America with EconTalk host Russ Roberts.

Josh Williams, co-founder and CEO of the blockchain gaming company Forte, talks with EconTalk host Russ Roberts about the state of online gaming and the potential of a blockchain-based gaming platform to create market economies with property rights within online games.

Economist Robert Lerman of the Urban Institute talks about apprenticeships with EconTalk host Russ Roberts. Lerman argues that apprenticeships--a combination of work experience and classroom learning--have the potential to expand opportunities for young people who don't want to attend college.

Physician and author Vivian Lee talks about her book The Long Fix with EconTalk host Russ Roberts. Lee argues that we can transform health care in the United States, though it may take a while. She argues that the current fee-for-service system incentivizes doctors to provide services rather than keep patients healthy and that these are not the same thing. Topics explored include innovations in Medicare and in technology that might change treatment incentives as well as the weird world of health care pricing.

Philosopher and author Agnes Callard talks with EconTalk host Russ Roberts about the state of philosophy, the power of philosophy, and the search for wisdom and truth. This is a wide-ranging conversation related to the question of how we learn, how to behave ethically, and the role of religion and philosophy in encouraging good behavior.

Author and historian Diane Ravitch of New York University talks about her book, Slaying Goliath, with EconTalk host Russ Roberts. Ravitch argues that the charter school movement is a failure and that it drains needed money from public schools.

Author and economist Rebecca Henderson of the Harvard Business School talks about her book Reimagining Capitalism in a World on Fire with EconTalk host Russ Roberts. Henderson argues that the focus on shareholder value threatens to destroy capitalism from within. Henderson argues that business leaders need to manage their companies differently in order to create a more humane and stable capitalism.

Journalist and author Sarah Carr talks about her book Hope Against Hope with EconTalk host Russ Roberts. Carr looked at three schools in New Orleans in the aftermath of Hurricane Katrina and chronicled their successes, failures, and the challenges facing educational reform in the poorest parts of America.

Author Martin Gurri, Visiting Fellow at George Mason University's Mercatus Center, talks about his book The Revolt of the Public with EconTalk host Russ Roberts. Gurri argues that a digital tsunami--the increase in information that the web provides--has destabilized authority and many institutions. He talks about the amorphous nature of recent populist protest movements around the world and where we might be headed politically and culturally.

Author and teacher Robert Pondiscio of the Thomas B. Fordham Institute talks about his book How the Other Half Learns with EconTalk host Russ Roberts. Pondiscio shares his experience of being embedded in a Success Academy Charter School in New York City for a year--lessons about teaching, education policy, and student achievement.

In this bonus episode of EconTalk, economist and Nobel Laureate Paul Romer discusses the coronavirus pandemic with EconTalk host Russ Roberts. Romer argues that the status quo of shutdown and fear of infection is unsustainable. Returning to normal requires an inexpensive, quick, and relatively painless test. Such tests are now available. The challenge is in relaxing certain regulations and then creating a supply chain of production and availability. Romer then explains how such a test could ease a return to something like normalcy for many sectors of the economy. The conversation concludes with a discussion of the dynamics of the labor market in the current situation.

Economist and author Branko Milanovic of the Graduate Center, CUNY, talks about his book, Capitalism, Alone, with EconTalk host Russ Roberts. They discuss inequality, the challenge of corruption in the Chinese system, and Milanovic's claim that in American capitalism, the texture of daily life is increasingly affected by the sharing economy and other opportunities.

Philosopher and author L.A. Paul talks about her book Transformative Experience with EconTalk host Russ Roberts. Paul explores the uncertainties that surround the transformative experiences that we choose and that happen to us without choosing. How should we think about the morality and personal impact of these kinds of experiences, especially when some decisions are very hard or impossible to reverse? Examples include becoming a vampire, having children, religion, and other life experiences and choices.

Physicist and author Alan Lightman talks with EconTalk host Russ Roberts about the origins of the universe, meaning, transcendence, and the relationship between science and religion.

Oncologist, author, and podcaster Vinay Prasad talks about his book Malignant with EconTalk host Russ Roberts. Prasad lays out the conflicts of interest and scientific challenges that make drugs that fight cancer so disappointing at times. The conversation looks at how policy changes might improve the incentives facing doctors, pharmaceutical companies, and patients.

Economist Ed Leamer of UCLA talks about manufacturing, effort, and inequality with EconTalk host Russ Roberts. The conversation draws on recent empirical work of Leamer's on how measured inequality is affected by the work effort of Americans at different levels of education. The conversation ends with a discussion of how education can be transformed when it is more personal and allows the student to explore and discover under the guidance of a teacher.

Economist and author Arnold Kling talks about the revised edition of his book The Three Languages of Politics in front of a live audience at the Cato Institute, recorded in September of 2019. Kling talks about the changed political landscape in the United States and around the world and how his ideas have changed since the book was first published in 2013.

Jenny Schuetz of the Brookings Institution talks with EconTalk host Russ Roberts about zoning, boarding houses, real estate development, and the housing market.

Author and oncologist Azra Raza talks about her book The First Cell with EconTalk host Russ Roberts. Raza argues that we have made little progress in fighting cancer over the last 50 years. The tools available to oncologists haven't changed much--the bulk of the progress that has been made has been through earlier and earlier detection rather than more effective or compassionate treatment options. Raza wants to see a different approach from the current strategy of marginal improvements on narrowly defined problems at the cellular level. Instead, she suggests an alternative approach that might better take account of the complexity of human beings and the way that cancer morphs and spreads differently across people and even within individuals. The conversation includes the challenges of dealing with dying patients, the importance of listening, and the bittersweet nature of our mortality.

Economist and infovore Tyler Cowen of George Mason University talks with EconTalk host Russ Roberts about the political, social, and economic aspects of the COVID-19 pandemic.

Author and conservationist Isabella Tree talks about her book Wilding with EconTalk host Russ Roberts. Tree and her husband decided to turn their 3500 acre farm, the Knepp Castle Estate, into something wilder, a place for wild ponies, wild pigs, wild oxen, and an ever-wider variety of birds and bugs. The conversation covers the re-wilding phenomenon, the complexity of natural systems, and the nature of emergent order.

Economist and author Richard Davies talks about his book Extreme Economies with EconTalk host Russ Roberts. The conversation explores economic life in extreme situations. Examples discussed are the Angola State Penitentiary in Louisiana, two Syrian refugee camps in Jordan, the rain forest in the Darien Gap in Panama, and Kinshasa, the largest city in the Democratic Republic of Congo. This is an economic and journalistic tour de force as Davies shares insights from his encounters with people around the world struggling to trade and prosper in extreme environments.

Author and political scientist Yuval Levin of the American Enterprise Institute talks about his book A Time to Build with EconTalk host Russ Roberts. Levin argues that institutions in America are less trustworthy than they have been in the past. The cause, in Levin's view, is that the participants in these institutions no longer see the institution they are part of as something that molds them and has norms to which the participants conform. Instead, participants view the institution as a platform to gain attention and notoriety. This in turn means that institutions are increasingly unable to perform their primary function as they once did. The conversation concludes with some ideas for how individuals might change how they see their roles within institutions and life as a way of working together in common purpose.

Economist, author, and investor Richard Robb talks about his book Willful with EconTalk host Russ Roberts. Robb is interested in what motivates and explains the choices we make. He explores alternatives to the optimizing model of economics including what he calls "for-itself" behavior--behavior that isn't purposive. Topics discussed in this wide-ranging conversation include the nature of work, decision-making under uncertainty, the Joseph story in the Book of Genesis, Nietzsche, the Financial Crisis of 2008, altruism, and how green beans are sold.

Philosopher and author Peter Singer of Princeton University talks about his book, The Life You Can Save with EconTalk host Russ Roberts. Singer argues that those of us in the developed world with a high standard of living can and should give/forgo some luxuries and donate instead to reduce poverty and suffering in poor countries. This is a wide-ranging conversation on the potential we have to make the world a better place and the practical challenges of having an impact.

Physician and author Marty Makary of Johns Hopkins University talks about his book The Price We Pay with EconTalk host Russ Roberts. Makary highlights some of the stranger aspects of our current health care system including the encouragement of unnecessary or even harmful procedures and the predatory behavior of some hospitals who sue patients and garnish their wages to recover fees that are secret until after the procedure is completed. Makary favors requiring hospitals to make their prices transparent. He also discusses a number of ways that employers and patients are trying to avoid the worst aspects of the current system.

Economist, author, and Nobel Laureate Robert Shiller of Yale University discusses his book Narrative Economics with EconTalk host Russ Roberts. Shiller proposes a novel idea--that the narratives that people believe and use to understand the world affect their economic behavior and in turn affect the macroeconomy. Shiller argues that taking these psychological effects into account is a new frontier of economic research and he gives a number of examples of how we might think about these phenomena.

Economist and author Daniel Klein of George Mason University talks about the ethics of working and the potential for our working lives to make the world a better place. This is a wide-ranging conversation that includes discussion of Adam Smith, what jobs we should work on, what charities we should donate to, how we can make ourselves more virtuous, the movies Se7en and Sabrina, and ultimately what Adam Smith calls "the becoming use of our own."

Author and professor Janine Barchas of the University of Texas talks about her book, The Lost Books of Jane Austen, with EconTalk host Russ Roberts. The conversation explores Austen's enduring reputation, how the cheap reprints of her work allowed that reputation to thrive, the links between Shakespeare and Austen, how Austen has thrived despite the old-fashioned nature of her content, Colin Firth's shirt, and the virtue of studying literature.

Journalist and author Adam Minter talks about his book Secondhand with EconTalk host Russ Roberts. Minter explores the strange and fascinating world of secondhand stuff--the downsizing that the elderly do when they move to smaller quarters, the unseen side of Goodwill Industries, and the global market for rags.

Computer Scientist and author Melanie Mitchell of Portland State University and the Santa Fe Institute talks about her book Artificial Intelligence with EconTalk host Russ Roberts. Mitchell explains where we are today in the world of artificial intelligence (AI) and where we might be going. Despite the hype and excitement surrounding AI, Mitchell argues that much of what is called "learning" and "intelligence" when done by machines is not analogous to human capabilities. The capabilities of machines are highly limited to explicit, narrow tasks with little transfer to similar but different challenges. Along the way, Mitchell explains some of the techniques used in AI and how progress has been made in many areas.

Economist and author Kimberly Clausing of Reed College talks about her book Open with EconTalk host Russ Roberts. Clausing, a self-described progressive, argues that the United States should continue to embrace free trade but she argues for other interventions to soften the impact of trade on workers and communities.

Journalist and author Joe Posnanski talks about his book, The Life and Afterlife of Harry Houdini, with EconTalk host Russ Roberts. Posnanski explores the enduring fame of Houdini who remains an iconic cultural figure almost a century after his death. Topics discussed include the nature of celebrity, the nature of ambition, parenting, magic, and the use of public relations to create and sustain reputation and celebrity.

Journalist and author Binyamin Appelbaum of the New York Times talks about his book, The Economists' Hour, with EconTalk host Russ Roberts. Appelbaum blames the triumph of free-market ideology for the rise in inequality and the decline in growth rates over the last half-century. The result is a lively, civil conversation about the economic events over that time period and the role of economists in changing economic policy.

Political Scientist and author Terry Moe of Stanford University talks about his book, The Politics of Institutional Reform with EconTalk host Russ Roberts. Moe explores the politics and effectiveness of educational reform in the New Orleans public school system in the aftermath of Hurricane Katrina. Moe finds that policy-makers turned to charter schools for pragmatic reasons and students enjoyed dramatic improvements in educational outcomes as a result. Moe uses this experience to draw lessons about political reforms generally and the power of vested interests to preserve the status quo in the absence of catastrophic events like Katrina.

Psychologist and author Gerd Gigerenzer of the Max Planck Institute for Human Development talks about his book Gut Feelings with EconTalk host Russ Roberts. Gigerenzer argues for the power of simple heuristics--rules of thumb--over more complex models when making real-world decisions. He argues that many results in behavioral economics that appear irrational can be understood as sensible ways of coping with complexity.

Sociologist Susan Mayer of the University of Chicago talks about her book What Money Can't Buy with EconTalk host Russ Roberts. Mayer reports on her research which found that giving poor parents money had little measured effect on improving the lives of their children. She emphasizes the importance of accurately understanding the challenges facing children in poverty if the goal is to actually help them. She concludes that there is no simple way to help the most vulnerable children and that strategies to help them must recognize this reality. The conversation ends with a discussion of the potential role of education and parenting practices to help children in poor families.

Entrepreneur and Anesthesiologist Keith Smith of the Surgery Center of Oklahoma talks with host Russ Roberts about what it's like to run a surgery center that posts prices on the internet and that does not take insurance. Along the way, he discusses the distortions in the market for health care and how a real market for health care might function if government took a smaller role.

Author and Advertising Executive Rory Sutherland of Ogilvy talks about his book Alchemy with EconTalk host Russ Roberts. Sutherland makes the case for the magic (yes, magic!) of advertising and branding in helping markets work well. This is a wide-ranging conversation on consumer choice, public policy, travel, real estate, and corporate decision-making using insights from behavioral economics and decades of experience in the world of advertising.

Writer and management consultant Venkatesh Rao talks about Waldenponding with EconTalk host Russ Roberts. Rao coined the term Waldenponding to describe various levels of retreating from technology akin to how Thoreau extolled the virtues of retreating from social contact and leading a quieter life at Walden Pond. Rao argues that the value of Waldenponding is overrated and that extreme Waldenponding is even somewhat immoral. Rao sees online intellectual life as a form of supercomputer, an intellectual ecosystem that produces new knowledge and intellectual discourse. He encourages all of us to contribute to that intellectual ecosystem even when it can mean losing credit for some of our ideas and potentially some of our uniqueness.

Psychologist Michele Gelfand talks about her book, Rule Makers, Rule Breakers, with EconTalk host Russ Roberts. Gelfand distinguishes between loose cultures and tight cultures--the degree to which culture and regulation restrict behavior or leave it alone. Gelfand explores the causes of why some cultures are tighter than others and the challenges societies face when culture is too tight or too loose. She also applies these ideas of cultural tightness and looseness to corporate mergers and family life.

Economist Susan Houseman of the Upjohn Institute for Employment Research talks about the manufacturing sector with EconTalk host Russ Roberts. Houseman argues that the data surrounding both manufacturing output and employment have been misunderstood and misinterpreted. In particular, she argues that conclusions about the growth of manufacturing are driven overwhelmingly by computer production while the rest of manufacturing has been stagnant. She also argues that productivity has a small role in reducing manufacturing employment. Trade has been the main cause of employment reductions. These claims go against the standard narratives most economists have been telling for the last 20 years.

Andrew McAfee of MIT's Sloan School of Management talks about his book, More from Less, with EconTalk host Russ Roberts. McAfee argues that technology is helping developed nations use fewer resources in producing higher levels of economic output. The improvement is not just a reduction in energy per dollar of GDP but less energy in total as economic growth progresses. This "dematerialization" portends a future that was unimaginable to the economists and pundits of the past. McAfee discusses the potential for dealing with climate change in a dematerialized world, the non-material aspects of economic progress, and the political repercussions of the current distribution of economic progress.

Ryan Holiday talks about his latest book, Stillness Is the Key, with EconTalk host Russ Roberts. Holiday explores how stillness--the cultivation of serenity and focus--can affect how we live and how we perceive life. Topics discussed include the performance artist Marina Abramovic, Winnie the Pooh, the Cuban Missile Crisis, and Michael Jordan's Hall of Fame induction speech. Holiday also explains how he keeps track of information and how his system makes it easier for him to write his books.

Physicist Sabine Hossenfelder talks about her book Lost in Math with EconTalk host Russ Roberts. Hossenfelder argues that the latest theories in physics have failed to find empirical confirmation. Particles that were predicted to be discovered by the mathematics have failed to show up. Whether or not there is a multiverse has no observable consequences. Hossenfelder argues that physicists have become overly enamored with the elegance and aesthetics of their theories and that using beauty to evaluate a model is unscientific. The conversation includes a discussion of similar challenges in economics.

Dani Rodrik of Harvard University talks about neoliberalism with EconTalk host Russ Roberts. Rodrik argues that a dogmatic embrace of markets has increased inequality and limited who benefits from economic growth. He argues for a more interventionist approach to the economy with the goal of better-paying jobs and more widely shared prosperity.

George Will talks about his new book, The Conservative Sensibility, with EconTalk host Russ Roberts. Will argues for a conservative vision that embraces the dynamic nature of life. Topics discussed include the current political landscape, the American founding, James Madison's vision of government vs. Woodrow Wilson's, Friedrich Hayek, and of course, a little baseball.