Tyler Cowen and Alex Tabarrok, on The Story of Marginal Revolution
Aug 23, 2023
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Tyler Cowen and Alex Tabarrok, the world's largest economics bloggers, discuss their journey of starting and growing their blog, the impact of controversial posts, the importance of consistency in content production, the power of intellectual curiosity, and their collaboration and communication methods.
Teaching economics to a broader audience is a key mission, achieved through initiatives like Marginal Revolution University.
Drawing inspiration from TV shows, the hosts aim to create engaging and serial content on their blog.
Being interesting, timely, and capturing readers' attention is crucial for maintaining readership in the ever-changing news cycle.
Deep dives
Teaching Economics to a Wide Audience
The podcast discusses the importance of spreading good economic ideas to a broader audience. The hosts believe that most of the world has yet to fully embrace economic principles, and they aim to teach people how to think about economics and different issues. They have seen success in this endeavor through initiatives like Marginal Revolution University, where students have been reading their works since a young age and now pursue PhDs. The hosts consider it a core project to show people how to live an infivore life, focusing on economics while embodying their own version and encouraging others to iterate against it.
The Impact of Serial Content
The hosts highlight the influence of television shows, such as Succession and Formula One: Drive to Survive, on their writing style. They appreciate the logical and character-driven storytelling in Succession and how each episode of Formula One follows a similar structure while captivating the audience. They draw inspiration from these shows to create a similar sense of serial content on their blog, with each post having a climax and leaving readers wanting more. They believe that applying elements of storytelling from TV shows adds depth and engagement to their writing.
The Importance of Being Interesting and Timely
The hosts emphasize the significance of being interesting and timely in their writing. They recall the early years of blogging, where being boring was a surefire way to lose readership. They stress the need to capture readers' attention and be relevant in the ever-changing news cycle. Being brief and getting to the point quickly is essential for engaging readers and ensuring continued interest in their work.
Importance of Collaboration and Prioritizing Work
Collaboration is key to increasing productivity and getting more done. The speaker emphasizes the importance of working on collaborative projects first, as having someone work on your behalf while you tackle your own tasks can lead to greater efficiency. By prioritizing collaboration, individuals can benefit from others' contributions and complete tasks faster.
The Power of the Internet and the Written Word
The podcast episode discusses the transformative power of the internet and the impact it has on the dissemination of ideas. The speaker highlights how the internet has opened up opportunities for individuals from diverse backgrounds to engage in intellectual pursuits and connect with a global audience. They emphasize the value of the written word and the ability to share ideas and perspectives, creating a platform for discussion, learning, and growth.
For the past 20 years, they have run the world’s largest economics blog. This is the story of how they publish every day, generate ideas when they’re stuck, and plan to teach millions of people the basics of supply & demand.