Just Asking Questions Tyler Cowen: Why Do We Refuse To Learn From History?
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Jan 10, 2025 
Tyler Cowen, Holbert L. Harris Professor of Economics at George Mason University, dives into the phenomenon he calls The Great Forgetting. He explores why society neglects crucial economic lessons from the past, particularly those from the 1970s regarding inflation and crime policies. Cowen discusses the implications of misinformation and the erosion of historical knowledge in policymaking. Moreover, he examines evolving perceptions of crime in cities and the challenges faced in immigration policies amid polarized politics.
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The Great Forgetting
- Many think rent control is a good idea, but it creates shortages and other issues.
- Bad ideas, like using excess inflation to stimulate the economy, are making a comeback.
Comparing Inflations
- The 1970s inflation was worse than the 2020s inflation, reaching higher levels and lasting longer.
- Excessively loose monetary policy, influenced by political pressure, played a significant role in the 1970s inflation.
NYC Crime and Disorder
- New York's rising public disorder contributes to perceived high crime rates, even if actual crime is flat or falling.
- Increased drug use and public disorder contribute to negative perceptions, necessitating effective, non-brutal policing.