Why Are Smarter Groups of People More Cooperative?

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

M chad jones's a semi indogenous growth theory basley says there's diminishing returns to the idea research process, just like their diminishing returns to capital. It turns out that intelligent people are more patient, they are more pleasant, and they are more perceptive. And those three peas of the repeated prisoner's dilemma are crucial for group co operation. So smarter tend to have all three traits in greater degree, more patient, more perceptive, more pleasant.

Why is Garett Jones willing to write books about risky topics like the case for reducing democratic accountability? Is it the iconoclastic Mason econ culture? Supportive colleagues like Tyler? Those help, but what ultimately gives Garett peace of mind is that he’ll never have to go hungry because he has a broad and deep knowledge of econometric tools. It’s a skillset he recommends to all research economists precisely so they can take bigger risks in their careers—or at least be well-prepared to shape policy in an unelected position at a central bank.

Garett joined Tyler to discuss his book 10% Less Democracy, including why America shouldn’t be run by bondholders, what single reform would most effectively achieve more limited democracy, how markets shape cognitive skills, the three important P’s of the repeated prisoner’s dilemma, why French cuisine is still underrated, Buchanan vs. Tullock, Larry David vs. Seinfeld, the biggest mistake in Twitter macroeconomics, the biggest challenges facing the Mormon church, what studying to be a sommelier taught him about economics, the Garett Jones vision of America, and more.

Read a full transcript enhanced with helpful links.

Recorded January 10th, 2020 Other ways to connect

Follow us on Twitter and Instagram
Follow Tyler on Twitter
Follow Garett on Twitter
Email us: cowenconvos@mercatus.gmu.edu
Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox.