Discussing the power balance between public and elites, good economic policies that are disliked, and the interplay between intelligence and behavior. Exploring IQ scores for building better societies and the influence of cultural background on social skills and leadership.

Associate professor of economics, Garett Jones, discusses the benefits and drawbacks of democracy and the crisis of expertise. He explores the topic of immigration, focusing on assimilation and high trust versus low trust cultures. The conversation also covers the complexities of governance, the influence of lobbyists, and the impact of the electoral college. They delve into the building of American institutions, the paradox of ambitious entrepreneurs in high-trust systems, and the high savings rates and strong community among Mormons.

Why is Garett Jones willing to write books about risky topics like the case for reducing democratic accountability? Is it the iconoclastic Mason econ culture? Supportive colleagues like Tyler? Those help, but what ultimately gives Garett peace of mind is that he’ll never have to go hungry because he has a broad and deep knowledge of econometric tools. It’s a skillset he recommends to all research economists precisely so they can take bigger risks in their careers—or at least be well-prepared to shape policy in an unelected position at a central bank.  Garett joined Tyler to discuss his book 10% Less Democracy, including why America shouldn’t be run by bondholders, what single reform would most effectively achieve more limited democracy, how markets shape cognitive skills, the three important P’s of the repeated prisoner’s dilemma, why French cuisine is still underrated, Buchanan vs. Tullock, Larry David vs. Seinfeld, the biggest mistake in Twitter macroeconomics, the biggest challenges facing the Mormon church, what studying to be a sommelier taught him about economics, the Garett Jones vision of America, and more. Read a full transcript enhanced with helpful links. Recorded January 10th, 2020 Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter  Follow Garett on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox.