Intro

The hosts celebrate the recent Nobel Prize awarded to an economist and explore the evolving nature of economics from a natural science to a study of cultural significance. They discuss the implications of this shift, particularly in the context of artificial intelligence's influence on the field.

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This week on Econ 102, Noah Smith and Erik Torenberg tackle the shift in economic research from empirical studies to "big think" theories, critically examine Acemoglu's work on institutions and AI's impact on jobs, and debate the future of economics as a science.

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TIMESTAMPS:

(00:00) Intro

(01:14) Shift in economic theories

(07:16) Influence of economic theories on practice