EconTalk

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.

Economist and author Daron Acemoglu of MIT discusses with EconTalk host Russ Roberts the challenge of shared prosperity and the policies that could bring about a more inclusive economy. Acemoglu argues for the importance of good jobs over redistribution and makes the case for the policies that could lead to jobs and opportunities across skill levels.

Can a great leader or manager be humble in public? Or is exuding confidence, even when it may not be merited, a key part of leadership? In this episode of EconTalk, host Russ Roberts talks with David Deppner, CEO of Psyberware, about an email David sent Russ wondering how Russ might reconcile his passion for humility and honesty with the demands put upon leaders to inspire followers with confidence in their vision.

Historian Andrew Roberts talks about the life of Winston Churchill and the art of biography with EconTalk host Russ Roberts. How did Churchill deal with the mistakes he inevitably made in a long career? Was he prescient or just the right man in the right place at the right time? Was he an alcoholic? Did he suffer from depression? Drawing on his recent biography of Churchill, Andrew Roberts answers these and other questions in this wide-ranging conversation that includes a discussion of the mechanics of writing a 1000 page book on a man who has had over 1000 biographies written about him already.

Author and economist Tyler Cowen of George Mason University talks about his book, Big Business, with EconTalk host Russ Roberts. Cowen argues that big corporations in America are underrated and under-appreciated. He even defends the financial sector while adding some caveats along the way. This is a lively and contrarian look at a timely issue.

Arthur Diamond of the University of Nebraska at Omaha talks about his book, Openness to Creative Destruction, with EconTalk host Russ Roberts. Diamond sings the sometimes forgotten virtues of innovation and entrepreneurship and argues that they should be taught more prominently as a central part of economics.

Software Engineer Andy Matuschak talks about his essay "Why Books Don't Work" with EconTalk host Russ Roberts. Matuschak argues that most books rely on transmissionism, the idea that an author can share an idea in print and the reader will absorb it. And yet after reading a non-fiction book, most readers will struggle to remember any of the ideas in the book. Matuschak argues for a different approach to transmitting ideas via the web including different ways that authors or teachers can test for understanding that will increase the chances of retention and mastery of complex ideas.

Shoshana Zuboff of Harvard University talks about her book Surveillance Capitalism with EconTalk host Russ Roberts. Zuboff argues that the monetization of search engines and social networks by Google, Facebook, and other large tech firms threatens privacy and democracy.

Photographer, author, and former Wall St. trader Chris Arnade talks about his book, Dignity, with EconTalk host Russ Roberts. Arnade quit his Wall Street trading job and criss-crossed America photographing and getting to know the addicted and homeless who struggle to find work and struggle to survive. The conversation centers on what Arnade learned about Americans and about himself.

Author and journalist Michael Brendan Dougherty talks about his book My Father Left Me Ireland with EconTalk host Russ Roberts. Dougherty talks about the role of cultural and national roots in our lives and the challenges of cultural freedom in America. What makes us feel part of something? Do you feel American or just someone who happens to live within its borders? When are people willing to die for their country or a cause? These are some of the questions Dougherty grapples with in his book and in this conversation.

Economist and author Arthur Brooks talks about his book Love Your Enemies with EconTalk host Russ Roberts. Brooks argues that contempt is destroying our political conversations and it's not good for us at the personal level either. Brooks makes the case for humility and tolerance. Along the way he discusses parenting, his past as professional musician, and the challenges of leading a think tank.

Physician and author Adam Cifu of the University of Chicago talks about being a medical conservative with EconTalk host Russ Roberts. Cifu encourages doctors to appreciate the complexity of medical care and the reality that many medical techniques advocated by experts are not always beneficial or cost-effective. The conversation explores the challenges of finding reliable evidence to support medical interventions and the inherent uncertainty surrounding outcomes.

Cardiologist and author Eric Topol talks about his book Deep Medicine with EconTalk host Russ Roberts. Topol argues that doctors spend too little face-to-face time with patients, and the use of artificial intelligence and machine learning is a chance to emphasize the human side of medicine and to expand the power of human connection in healing. Topol surveys the current landscape of the application of technology to health care showing where its promise has been overstated and where it is having the most impact. The conversation includes a discussion of the placebo effect and the importance of the human touch in medicine.

Anja Shortland of King's College London talks about her book Kidnap with EconTalk host Russ Roberts. Kidnapping is relatively common in parts of the world where government authority is weak. Shortland explores this strange, frightening, but surprisingly orderly world. She shows how the interaction between kidnappers, victims, and insurance companies creates a somewhat predictable set of prices for ransom and creates a relatively high chance of the safe return of those who are kidnapped.

Bjorn Lomborg, President of the Copenhagen Consensus Center, talks about the costs and benefits of attacking climate change with EconTalk host Russ Roberts. Lomborg argues that we should always be aware of tradeoffs and effectiveness when assessing policies to reduce global warming. He advocates for realistic solutions that consider the potential to improve human life in other ways. He is skeptical of the potential to move away from fossil fuels and argues that geo-engineering and adaptation may be the most effective ways to cope with climate change.

Urbanist and author Alain Bertaud of NYU talks about his book Order Without Design with EconTalk host Russ Roberts. Bertaud explores the role of zoning and planning alongside the emergent factors that affect the growth of cities. He emphasizes the importance of cities as places for people to work and looks at how preferences and choices shape cities. Bertaud also reflects upon the differing perspectives of urban planners and economists.

Journalist and author David Epstein talks about his book Range with EconTalk host Russ Roberts. Epstein explores the costs of specialization and the value of breadth in helping to create mastery in our careers and in life. What are the best backgrounds for solving problems? Can mastery be achieved without specialization at a young age? What experiences and knowledge best prepare people to cope with unexpected situations? This is a wide-ranging conversation that includes discussion of chess, the Challenger tragedy, sports, farming in obscure Soviet provinces after the revolution, the Flynn effect and why firefighters sometimes fail to outrun forest fires.

Author, economist, and theologian Mary Hirschfeld of Villanova University talks about her book, Aquinas and the Market, with EconTalk host Russ Roberts. Hirschfeld looks at the nature of our economic activity as buyers and sellers and whether our pursuit of economic growth and material well-being comes at a cost. She encourages a skeptical stance about the ability of more stuff to produce true happiness and/or satisfaction. The conversation includes a critique of economic theory and the aspect of human satisfaction outside the domain of economists.

Neurologist and author Robert Burton talks about his book, On Being Certain, with EconTalk host Russ Roberts. Burton explores our need for certainty and the challenge of being skeptical about what our brain tells us must be true. Where does what Burton calls "the feeling of knowing" come from? Why can memory lead us astray? Burton claims that our reaction to events emerges from competition among different parts of the brain operating below our level of awareness. The conversation includes a discussion of the experience of transcendence and the different ways humans come to that experience.

Poverty activist, social entrepreneur and author, Mauricio Miller, talks about his book The Alternative with EconTalk host Russ Roberts. Miller, a MacArthur genius grant recipient, argues that we have made poverty tolerable when we should be trying to make it more escapable. This is possible, he argues, if we invest in the poor and encourage them to leverage their skills and social networks. Miller emphasizes the importance of self-determination and self-respect as keys to helping the poor improve their own lives.

Economist and author Emily Oster of Brown University talks about her book Cribsheet with EconTalk host Russ Roberts. Oster explores what the data and evidence can tell us about parenting in areas such as breastfeeding, sleep habits, discipline, vaccination, and food allergies. Oster often finds that commonly held views on some of these topics are not well supported by the evidence while on others, the evidence appears decisive. Oster thoughtfully explores the challenges of using empirical work and balances our sometimes ignorance with common sense.

Nobel Laureate Paul Romer of New York University talks with EconTalk host Russ Roberts about the nature of growth, the role of cities in the economy, and the state of economics. Romer also reflects on his time at the World Bank and why he left his position there as Chief Economist.

Historian and author Jill Lepore talks about nationalism, populism, and the state of America with EconTalk host Russ Roberts. Lepore argues that we need a new Americanism, a common story we share and tell ourselves. Along the way, topics in the conversation include populism, the rise of globalization, and the challenge of knowing what is true and what is false in the internet era.

Law professor and author Robin Feldman of UC Hastings College of the Law talks about her book Drugs, Money, and Secret Handshakes with EconTalk host Russ Roberts. Feldman argues that the legal and regulatory environment for drug companies encourages those companies to seek drugs that extend their monopoly through the patent system often with insufficient benefit for consumers. The prices for those drugs are then protected from new competition. She also argues that the pharmacy benefit management system allows drug companies to exploit consumers. The conversation concludes with a discussion of what can be done to improve the situation.

Philosopher and author Jacob Stegenga of the University of Cambridge talks about his book Medical Nihilism with EconTalk host Russ Roberts. Stegenga argues that many medical treatments either fail to achieve their intended goals or achieve those goals with many negative side effects. Stegenga argues that the approval process for pharmaceuticals, for example, exaggerates benefits and underestimates costs. He criticizes the FDA approval process for approving too many drugs that are not sufficiently helpful relative to their side effects. Stegenga argues for a more realistic understanding of what medical practice can and cannot achieve.

Economist and author Daniel Hamermesh of Barnard College and the Institute for the Study of Labor talks about his latest book, Spending Time, with EconTalk host Russ Roberts. Hamermesh explores how we treat time relative to money, how much we work and how that has changed over time, and the ways economists look at time, work, and leisure.

Obstetrician gynecologist Amy Tuteur and author of Push Back, talks about the book with EconTalk host Russ Roberts. Tuteur argues that natural parenting--the encouragement to women to give birth without epidurals or caesarians and to breastfeed--is bad for women's health and has little or no benefit for their children.

Futurist and author Amy Webb talks about her book, The Big Nine, with EconTalk host Russ Roberts. Webb observes that artificial intelligence is currently evolving in a handful of companies in the United States and China. She worries that innovation in the United States may lead to social changes that we may not ultimately like; in China, innovation may end up serving the geopolitical goals of the Chinese government with some uncomfortable foreign policy implications. Webb's book is a reminder that artificial intelligence does not evolve in a vacuum--research and progress takes place in an institutional context. This is a wide-ranging conversation about the implications and possible futures of a world where artificial intelligence is increasingly part of our lives.

Jacob Vigdor of the University of Washington talks with EconTalk host Russ Roberts about the impact of Seattle's minimum wage increases in recent years. Vigdor along with others from the Evans School of Public Policy and Governance have tried to measure the change in employment, hours worked, and wages for low-skilled workers in Seattle. He summarizes those results here arguing that while some workers earned higher wages, some or all of the gains were offset by reductions in hours worked and a reduction in the rate of job creation especially for low-skilled workers.

Michael Munger of Duke University talks with EconTalk host Russ Roberts about whether real capitalism is unstable and leads inevitably to crony capitalism. They also discuss ways to prevent the descent into cronyism and speculate on their own blind spots.

Catherine Semcer of the Property and Environment Research Center (PERC) talks with EconTalk host Russ Roberts about the role of incentives in preserving wildlife in Africa. The conversation discusses how allowing limited hunting of big game such as elephants and using revenue from hunting licenses to reward local communities for habitat stewardship has improved both habitat and wildlife populations while reducing poaching. Semcer draws on her experience as former Chief Operating Officer of Humanitarian Operations Protecting Elephants and also discusses recent efforts to re-locate lions in Mozambique.

Historian Jessica Riskin of Stanford University talks about her book The Restless Clock with EconTalk host Russ Roberts. What is the difference between human beings and machines? How has science thought about this distinction? When do we have agency and when are we constrained? Riskin discusses these issues and the implications for how we think about ourselves and the growth of artificial intelligence.

Author and psychotherapist Gary Greenberg talks with EconTalk host Russ Roberts about the placebo effect. Is it real? How does the placebo effect influence drug testing? If it's real, what is the underlying mechanism of why it works and how might it be harnessed to improve health care? The conversation concludes with a discussion of how knowledge of the placebo effect has influenced Greenberg's psychotherapy practice.

Patrick Collison, co-founder and CEO of Stripe, talks with EconTalk host Russ Roberts about the pace of innovation. Collison argues that despite enormous increases in the numbers of scientists and researchers, the pace of progress in scientific and technological understanding does not seem to be increasing accordingly. The conversation looks at the challenge of measuring innovation and whether the pace of innovation should be a matter of concern and if so, what might be done about it.

Economist Jennifer Doleac of Texas A&M University talks with EconTalk host Russ Roberts about her research on crime, police, and the unexpected consequences of the criminal justice system. Topics discussed include legislation banning asking job applicants if they've been in prison, body cameras for police, the use of DNA databases, the use of Naloxone to prevent death from opioid overdose, and the challenges of being an economist who thinks about crime using the economist's toolkit.

Historian and author Stephen Kotkin of Princeton University and Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the historical significance of the life and work of Aleksandr Solzhenitsyn on the occasion of the 100th anniversary of Solzhenitsyn's birth.