David Deming

David Deming, a Harvard economist and author, sheds light on the concentrated power held by elite universities in shaping economic narratives. He argues that this 'Big Econ' monopolizes perspectives, stifling competition and innovation. The discussion critiques traditional economic theories, particularly regarding income inequality and minimum wage policies. Deming emphasizes the need for diverse voices in economics to address real-world challenges and promote effective societal change. His insights call for a reevaluation of how economics is taught and practiced.

David Deming, a Harvard professor focused on the intersection of labor markets and education, dives deep into AI's early impact on the workforce. He questions if the claims of revolutionary change are overstated while offering insights on technological disruption. The discussion covers the decline in community college enrollment linked to economic shifts, the impact of colleges on social mobility, and the importance of adapting education for an AI-driven economy. Deming also addresses public policy challenges in navigating these rapid labor market changes.

David Deming and Raj Chetty discuss their research on legacy admissions at elite colleges, highlighting how these policies favor wealthy students and perpetuate power and prestige. They explore the implications for social mobility, the disparity in admissions based on parental wealth, and the importance of diversity. They also reflect on their personal backgrounds and the role of education in providing opportunities.