Alex Tabarrok (@ATabarrok), economist and author, joins Erik on this episode for a wide-ranging discussion.
They talk about:
- The contributions of economics to society over the past several decades and the biggest challenges ahead for the field
- What “the great forgetting” means in economics and why bad ideas from the past keep coming back
- The arguments for open borders
- Why Alex thinks we should focus on increasing the number of police as opposed to increasing punishment for offenders
- Whether the US or China will pull ahead in the next decades
- Whether capitalism and democracy are compatible
- Why “democracy is not the secret sauce to riches”
- The merits of inductive versus deductive thinking
- Why he thinks too few robots, not too many, is the cause of low wages
- His thoughts on cost disease
- How he would change academia, the FDA, healthcare, the tax code, and other areas if he could wave a magic wand
- The ways in which he thinks differently from other economists
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Venture Stories is brought to you by Village Global, is hosted by co-founder and partner, Erik Torenberg and is produced by Brett Bolkowy.