

Debate: Austrian vs. Chicago Economics
Jul 5, 2024
David Friedman, an economist and legal scholar known for his book 'The Machinery of Freedom,' engages in a lively debate with Gene Epstein, former economics editor at Barron's. They tackle the stark contrasts between Austrian and Chicago economics, discussing the relevance of economic intuition versus empirical data. Topics include the interpretations of utility, the critiques of government policies, and the complexities of non-rational behavior in economic predictions. Their exchange challenges listeners to reconsider entrenched economic doctrines.
Chapters
Transcript
Episode notes
1 2 3 4 5 6 7
Intro
00:00 • 6min
Austrian vs. Chicago Economics: Key Contrasts
05:37 • 33min
Economic Debates: Austrian vs. Chicago Schools
38:38 • 23min
Exploring Marginal Utility and Economic Schools of Thought
01:01:39 • 13min
Empirical Testing of National Boundaries and Taxation
01:14:21 • 4min
Challenging Economic Rationality
01:17:53 • 14min
Conclusion of the Austrian vs. Chicago Economics Debate
01:32:05 • 2min