The Division of Labor and Collective Knowledge

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This chapter explores the concept of the division of labor in economics and its evolution over time. It discusses how collaboration and tapping into collective knowledge is crucial in the modern human predicament, contrasting past and present knowledge and its implications on politics and economics.

Yascha Mounk and Ricardo Hausmann discuss development economics and how globalization has changed the nature of knowledge.

Ricardo Hausmann is an economist and the founder and Director of Harvard’s Growth Lab and the Rafik Hariri Professor of the Practice of International Political Economy at Harvard Kennedy School. Hausmann has also served as Minister of Planning of Venezuela (1992-1993) and on the Board of the Central Bank of Venezuela.

In this week’s conversation, Yascha Mounk and Ricardo Hausmann discuss the effect of globalization on social stratification; how “brain drains” and immigration can have counterintuitive effects on growth; and why we may often overrate the economic effects of corruption.

This transcript has been condensed and lightly edited for clarity.

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