History Extra podcast
Economists who changed the world
Apr 23, 2018
Economist Linda Yueh, based at the University of Oxford, dives into the legacies of history's greatest economic thinkers. She explores how economists like Adam Smith and Karl Marx shaped modern thought and addresses today's economic challenges. The discussion highlights Joan Robinson's role in tackling gender imbalance and the relevance of historical theories to current issues like income inequality and labor dynamics. Yueh also emphasizes the transformative ideas from the Industrial Revolution to present-day economics, encouraging listeners to learn from the past.
34:13
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Quick takeaways
- Influential economists like Adam Smith and John Maynard Keynes analyzed historical economic crises, offering valuable policy lessons for today's challenges.
- Joan Robinson's work on labor market imperfections emphasizes the relevance of historical economic theories in tackling contemporary issues like inequality.
Deep dives
The Essence of Great Economists
All influential economists share a common trait of hard work and a strong ambition to address significant economic challenges of their time. Figures like Adam Smith and John Maynard Keynes have examined crucial issues such as the Great Depression and the effects of the Industrial Revolution. Their analyses have not only provided insights into understanding these economic crises but also formulated policy recommendations to mitigate such challenges. This pursuit of understanding and improvement highlights the role of economists in shaping societal responses to economic adversity.
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