The Capitalism and Freedom in the Twenty-First Century Podcast Steven D. Levitt (Freakonomics co-author and U Chicago Econ Prof) on His Career and Decision to Retire From Academic Economics
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Mar 13, 2024 Join the podcast to hear Steven D. Levitt discuss his career, transition to academia, and decision to retire. Explore his impact on applied microeconomics, data-driven research, and the evolution of academic economics at UChicago. Reflect on golf, retirement, and the future of economics, as well as insights into teaching, educational reform, and pandemic project challenges.
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Accidental Economist
- Steven Levitt took Economics 10 at Harvard because it was a large class, assuming it would be easy.
- He initially misunderstood comparative advantage, thinking it was obvious, unlike his friend.
From Consulting to PhD
- Levitt found consulting painful, disliking being managed and observing poor advice given to clients.
- Unprepared and lacking math skills, he applied to PhD programs, finding success through clever causal approaches at MIT.
Unconventional PhD
- At MIT, Levitt prioritized writing papers over coursework, publishing in the Journal of Political Economy in his second year.
- He secured a Society of Fellows fellowship at Harvard, allowing him to bypass the job market for six years.