The Expansion of Social Regulation and Cost-Benefit Analysis

In this episode, Xavier Bonilla had a dialogue with Elizabeth Popp Berman about the economic style and how it has permeated American economics over the 20th Century. They start the conversation by giving an example of the economic style limiting the Obama Administration. They define and explain what the economic style is and how it will emphasize efficiency. They discuss the history of the economic style, how it became institutionalized, along with an overview of Macro and Micro economics. They also talk about the shift to public policy and how we got things like the Congressional Budget Office (CBO). They discuss how the economic style was used in the Reagan and Clinton administrations and what are other alternatives besides the economic style. 

Elizabeth Popp Berman is a sociologist and Associate Professor of Organizational Studies at the University of Michigan. She has her PhD from the University of California, Berkeley and studies economic sociology and the sociology of science and knowledge. She is the author of the most recent book, Thinking Like An Economist. You can find her work here and here. Twitter: @epopppp