Do Bondholders Really Help or Harm Governments?

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

You would get governments operating much more like firms, except firms that don't have to compete very much against other firms. I think on average, they help them. But giving the monopoly powers is far too much for any of the kind of government systems we care about. Habet a government just run by the land holders, right? Would that lead to an optimum encam again,. Thesame problem, which is that if it's completely ruled by them, those who are weakest in the bargaining situation might just get a wiped out completely.

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.