People I (Mostly) Admire
108. Ninety-Eight Years of Economic Wisdom
Jun 24, 2023
Nobel Prize-winning economist Robert Solow, at 98, shares his remarkable insights on economic growth and inequality. He discusses the challenges of reducing wealth disparity in a stationary economy and critiques the traditional GDP metrics. Solow reflects on his experiences during the Great Depression and their impact on his views about economic security. He also touches on the political dynamics influencing economics and shares light-hearted trivia from his life, blending serious topics with his remarkable journey through history.
54:13
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Quick takeaways
- Economic growth should not be the sole objective of capitalist economies, as it may lead to inequality and sustainability concerns.
- Macroeconomic models should consider the interplay between economic and political dynamics, taking into account the social and political aspects of an economy.
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