EconTalk

In this engaging discussion, Adam Minter, a journalist and author of "Secondhand: Travels in the New Global Garage Sale," dives into the intriguing world of secondhand goods. He shares insights on the emotional challenges of downsizing for seniors and the evolving dynamics of the secondhand market. Minter also discusses Goodwill's dual mission of profit and community service, and the significant role of rags in textile recycling. He explores how minimalism influences consumer behavior, shedding light on our complex relationship with possessions.

Melanie Mitchell, a computer scientist and author, shares her insights on artificial intelligence, emphasizing its limitations in mimicking human intelligence. She contrasts machine learning with human cognitive abilities, arguing that AI struggles with tasks involving emotional nuance and common sense. The conversation dives into the hype surrounding AI, ethical challenges, and the evolution of companies like Google. Mitchell also explores the philosophical implications of AI consciousness and the complexities of teaching ethics in this rapidly advancing field.

Kimberly Clausing, a Professor of Economics at Reed College and author of "Open," dives into the complexities of free trade with host Russ Roberts. She discusses the impact of globalization on American workers and the rising income inequality. Clausing advocates for free trade but emphasizes the need for interventions to support affected communities. The conversation touches on trade deficits, the challenges in industries like steel, and the importance of progressive taxation and inclusive policies to tackle economic disparities.

Joe Posnanski, a renowned journalist and author, dives into the captivating life of Harry Houdini. He explores Houdini's lasting legacy as a symbol of escape and creativity, and reflects on the nature of celebrity and ambition. The conversation touches on the emotional journey of writing and the pursuit of immortality, revealing how public relations crafted Houdini's reputation. Personal anecdotes emphasize the importance of embracing wonder, while comparisons to contemporary street performers highlight the thrill of danger in artistic expression.

Binyamin Appelbaum, a journalist for the New York Times and author of "The Economists' Hour," dives into the evolution of economic thought and its societal impacts. He critiques the rise of free-market ideology, linking it to increasing inequality and stagnant growth. The conversation highlights the role of Milton Friedman in shaping modern policies, the complexities of homelessness, and the pitfalls of lenient antitrust policies. Appelbaum also examines Greenspan's contradictory economic strategies, showcasing the growing shift toward progressive economic theories among today's economists.

Terry Moe, a political scientist and author at Stanford University, delves into the transformative impact of Hurricane Katrina on educational reform in New Orleans. He highlights how the disaster prompted a shift to charter schools, leading to significant improvements in student outcomes. Moe discusses the challenges posed by entrenched interests, like teachers' unions, that often hinder reform. He emphasizes the importance of incorporating innovation and adaptability in education, showing how political dynamics can change under pressure from catastrophic events.

Gerd Gigerenzer, a leading expert in decision-making from the Max Planck Institute, discusses the importance of gut feelings over complex models in navigating choices. He emphasizes the value of simple heuristics, especially in uncertain situations like hiring and finance. Gigerenzer critiques complex risk assessments that failed during the 2008 crisis, advocating for streamlined tools. He also highlights the pitfalls of medical screenings and champions personal experience as a guide in decision-making, illustrating how intuitive methods often outperform intricate algorithms.

In this discussion, Susan Mayer, a Professor emerita at the University of Chicago, dives into her research on poverty and education. She reveals that simply giving money to poor families doesn't significantly improve children's lives. Mayer emphasizes the critical role of parental engagement and innovative educational strategies. The conversation highlights the complexities of poverty, the need for tailored support, and the importance of understanding behavioral influences on success. Ultimately, effective parenting practices are vital for fostering better outcomes for disadvantaged children.

Entrepreneur and Anesthesiologist Keith Smith of the Surgery Center of Oklahoma talks with host Russ Roberts about what it's like to run a surgery center that posts prices on the internet and that does not take insurance. Along the way, he discusses the distortions in the market for health care and how a real market for health care might function if government took a smaller role.

Rory Sutherland, an advertising executive at Ogilvy and author of 'Alchemy,' discusses the surprising influence of behavioral economics on consumer behavior. He critiques traditional economic models, advocating for creativity in market dynamics. Sutherland explores how psychological factors shape consumer choices, like the impact of context in dining experiences. He also discusses the evolution of TV viewing and the complexities of trust in today's economy, emphasizing the need for improved consumer experiences over mere efficiency.