Simon H. Johnson is a British American economist, Ronald A. Kurtz professor of Entrepreneurship at the MIT Sloan School of Management, and a senior fellow at the Peterson Institute for International Economics.
Paradigm-shifting technologies such as the jet engine, radar and even the internet are a result of the public investment in science and technology that began in 1940. MIT professor Simon Johnson – a former chief economist at the International Monetary Fund – joins host Krys Boyd to make the case that this style of investment is once again needed to pump life into our economy. His new book, written with Jonathan Gruber, is called“Jump-Starting America: How Breakthrough Science Can Revive Economic Growth and the American Dream”(PublicAffairs).
Simon Johnson of MIT and the author (with James Kwak) of 13 Bankers talks with EconTalk host Russ Roberts about the origins of the financial crisis and how the next one might be prevented. Invoking the work of George Stigler, Johnson argues that the financial sector has captured the regulatory process and the result is that regulation and government intervention have been steered more by the interests of the financial sector than to the benefit of the general public. Johnson argues for capping the size of banks in order to reduce the danger of systemic risk and the too-big-to-fail excuse for bailing out banks. Johnson also discusses the role of the Fed in subsidizing risk-taking and leverage in the financial sector.
Get appearance alerts
Subscribe to receive notifications by email whenever this creator appears as a guest on an episode.