In this discussion, Dr. Glenn Loury, an esteemed economist and public pundit, dives into his autobiography, 'Late Admissions,' addressing his unique experiences as a Black intellectual in academia. He explores the evolution of economics towards more empirical research and critiques oversimplified political rhetoric surrounding economic literacy. Loury also reflects on Barack Obama’s complex relationship with the Black community and the intricacies of racial identity in American politics. His insights challenge listeners to consider the balance between personal agency and societal pressures.
Glenn Loury highlights his journey as a black conservative academic, emphasizing the challenges and complexities of racial identity in America.
He discusses the evolution of economics education, stressing the increased demand for specialization and measurable outputs among graduate students.
Lowry critiques the influence of social justice narratives on empirical research, advocating for scientific rigor and objective data analysis in studies.
He underscores the necessity of basic economic literacy among citizens for informed participation in political discussions and decision-making.
Deep dives
Introduction to Glenn Lowry's Background
Glenn Lowry, the first African American tenured professor of economics at Harvard, highlights his journey as a black conservative. His extensive academic background includes a PhD from MIT, and he has transitioned from a theoretical economist to a public intellectual and commentator. He emphasizes the importance of recognizing the achievements of the civil rights movement while advocating for the focus on community potential and development. Lowry asserts that being a contrarian has led him to challenge prevailing narratives within the civil rights discourse.
Evolution of the Economics Field
Lowry discusses the significant changes in the field of economics since he began his career. The introduction of advanced technology and software has transformed how empirical studies are conducted, resulting in more data-driven approaches. He reflects on how the profession has moved away from theoretical work, favoring practical applications, experimental designs, and behavioral economics. The increased demand for interdisciplinary research indicates a maturation of the discipline, making it more relevant to contemporary societal issues.
Impact of Increased Standards on Economics Education
The rising standards in economics education reflect a broader trend towards specialization and a need for measurable outputs. Lowry compares the rigorous requirements for graduate students today to those of previous decades, highlighting the pressure to publish research before even entering a master's program. He believes this transformation has improved the quality of research but notes that it has also added stress and competition among students. Despite recognizing the cons, he ultimately supports the evolution toward higher standards in the discipline.
Balancing Social Concerns with Empirical Research
In discussing the relationship between social issues and empirical research, Lowry emphasizes the importance of maintaining rigorous scientific standards. He critiques attempts to mold research questions based on social justice narratives, warning against compromising the integrity of scientific inquiry. Using examples from education and psychology, he argues that empirical research should focus on objective data analysis rather than subjective interpretations. Lowry advocates for a balanced approach that respects both scientific rigor and the lived experiences of marginalized groups.
Understanding Economic Literacy and Responsibility
Lowry stresses the need for basic economic literacy among the American public, asserting that a foundational understanding of economic principles is essential for informed citizenship. He laments the lack of awareness regarding economic realities among politicians and the general public, which can lead to misguided policies. Emphasizing individual responsibility, he argues that it's crucial for citizens to engage with political discussions and recognize the implications of economic decisions. Lowry calls for an educational approach that empowers individuals to understand the complexities of the economy.
The Dangers of Populism in Contemporary Politics
Lowry identifies the rise of populism as a significant threat to thoughtful governance and coherent economic policy. He believes that nativism and protectionism can lead to divisive policies that ultimately harm national and global interests. Instead of fostering inclusive dialogue, populist sentiments often prioritize rhetoric over substantial solutions, which he regards as dangerous. His critique extends to both sides of the political spectrum, stressing the need for informed and rational discourse in addressing economic and social challenges.
Reflections on Identity and Racial Politics
Lowry shares his personal reflections on the complexities of racial identity in America, discussing how his experiences have shaped his perspective as a black conservative. He acknowledges the tension between individual agency and societal expectations, contemplating how race influences perceptions and opportunities. While recognizing the realities of systemic racism, Lowry urges individuals to strive for personal excellence, irrespective of external limitations. His narrative emphasizes that the journey of self-discovery is intertwined with broader societal dynamics.
The Role of Honesty in Personal Growth
Through the writing of his memoir, 'Late Admissions', Lowry confronts his past mistakes and seeks to strip away the layers of self-deception he previously held. He reflects on the challenges of candidly facing one's shortcomings and the importance of personal accountability. Lowry believes that engaging in honest self-assessment is crucial for meaningful personal growth and understanding one's path. His journey illustrates the profound impact of self-reflection on achieving clarity about identity and purpose.
Today we are joined by Dr. Glenn Loury an esteemed economists and public pundit who has spent a career writing and speaking about conservatism. In this episode, we dig into his book, Late Admissions and his dissonant experience as being black within academics and not wanting to losing his Chicago connections. We hope you enjoy this podcast episode as much as we did.
If you enjoyed listening to Glenn today you can check him out at:
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