The book is the dynamism of the modern economy. Tell us why japan from 19 50 to 19 90 does not pass the test, for you, of a dynamic economy. I spent a summer on a cabutz in israel, picking peaches. And me tell you, it's not exciting work. Brt, they're probbly people who get satisfaction from it. Want to suggest that all ural activity is dreary? A tip of picking one without without damaging it or something. Lei go.
Edmund Phelps of Columbia University, Nobel Laureate in economics, and author of Mass Flourishing talks with EconTalk host Russ Roberts about the ideas in the book. Phelps argues that human flourishing requires challenges, struggles, and success and goes beyond material prosperity. He argues that in recent decades, policy has discouraged innovation and mass flourishing resulting in a slow-down in growth rates. Phelps emphasizes the non-material benefits of economic growth and the importance of small innovations over big inventions as key to that growth.