The Innovation and Diffusion Podcast S3 E2: Culture and Economic Growth with Alberto Bisin from NYU
Dec 19, 2025
Alberto Bisin, a Professor of Economics at NYU and a fellow at the Econometric Society, explores the intricate relationship between culture and economic growth. He emphasizes the role of cultural transmission mechanisms and how institutions interact with cultural norms to shape economic outcomes. Alberto delves into historical dynamics, discussing the divergence in growth between Western Europe and the Middle East. With a nod to challenges in academia, he shares insights on his journey and the importance of linking models to historical data for a richer understanding of prosperity.
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Mathematical Economics Reached A Peak
- General equilibrium mathematical research peaked and many core questions are now settled.
- Economics shifted toward empirical work, leaving some formal strands less central.
The Empirical Turn In Economics
- Economics became much more empirical with sophisticated statistical methods.
- Formal models remain important for logical consistency, but empirical credibility now dominates top journals.
Chicago's Brutal Yet Exhilarating Culture
- Alberto loved the University of Chicago's intense intellectual atmosphere despite initial political reservations.
- He experienced brutal seminars and a harsh core exam but found the culture exhilarating.