Influences, Reflection, and Impact in Economics

The chapter delves into how the guest's journey to study economics, reflecting on influential economists, and urging for more empirical work in the field. It discusses the nature of empirical work, the problem of social cost, a famous dinner discussion, and a pivotal moment leading to a shift in perspective. The chapter also debates concepts like the Coase Theorem, externalities, property rights, and challenges in experimenting on complex systems, emphasizing the importance of real-world applications in research.