James Heckman of the University of Chicago was awarded the Nobel Prize in Economics in 2000. His first appearance on econ talk was in January of 2016 discussing the state of econometrics. Our topic for today is economic mobility and inequality, drawing on a recent N.B.B. working paper.
Economist and Nobel Laureate James Heckman of the University of Chicago talks about inequality and economic mobility with EconTalk host Russ Roberts. Drawing on research on inequality in Denmark with Rasmus Landerso, Heckman argues that despite the efforts of the Danish welfare state to provide equal access to education, there is little difference in economic mobility between the United States and Denmark. The conversation includes a general discussion of economic mobility in the United States along with a critique of Chetty and others' work on the power of neighborhood to determine one's economic destiny.