Russ Roberts on Life as an Economics Educator

23 snips

Jun 5, 2019

In this engaging discussion, Russ Roberts, a research fellow at Stanford's Hoover Institution and host of EconTalk, delves into the virtues of forgiveness and the potential manipulation of data. He explores the complexities of prayer, the motivations behind behaviors, and the effects of a volunteer army on wartime incentives. The conversation also touches on the shortcomings of classical liberalism, the relevance of behavioral economics, and how religious texts can inform economic principles. Expect insights sprinkled with humor and personal anecdotes!

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INSIGHT

Growth Measurement

The reported slowdown in economic growth may not reflect reality.
Changes in household structure distort median income calculations.

INSIGHT

Government Spending

The true cost of government spending isn't interest but the activity itself.
It represents reduced private consumption, unless spent wisely.

ADVICE

Improving Government Spending

Fund prizes for technological breakthroughs.
Incentivize better educational outcomes beyond test scores.

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