What Are the Big Questions?

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I find that strange because most people in our field, for example, don't know they only know one of those things. But anyway, let's go on. You write the more interesting part is what are the big questions? What have we learned or not learned about them? And you start off with China. Why what we failed, why we failed here? I am not sure that we have a definitive answer on China, probably will never have it. There are certainly people who have worked on China and from the economics of China and come up with some interesting insights.

Author and economist Branko Milanovic of CUNY talks about the big questions in economics with EconTalk host Russ Roberts. Milanovic argues that the Nobel Prize Committee is missing an opportunity to encourage more ambitious work by awarding the prize to economists tackling questions like the rise of China's economy and other challenging but crucial areas of scholarship. In the conversation, he lays out what those questions might be and discusses what we know and don't know in these areas.