In 1980, one half of a daily edition of the Wall Street Journal would be spent on economics of China. Now it is by far number two in terms of simple space that is spent like a paper space. This is really an event of our, an economic sphere and possibly geopolitical, the event of our times.
Author and economist Branko Milanovic of CUNY talks about the big questions in economics with EconTalk host Russ Roberts. Milanovic argues that the Nobel Prize Committee is missing an opportunity to encourage more ambitious work by awarding the prize to economists tackling questions like the rise of China's economy and other challenging but crucial areas of scholarship. In the conversation, he lays out what those questions might be and discusses what we know and don't know in these areas.