Paul Romer

Paul Romer, Nobel Prize–winning economist known for endogenous growth theory and charter cities. He discusses why big ideas cannot be manufactured. He explains knowledge as a non-rival good and its role in growth. He tells the story of attempting charter cities and the political obstacles. He reflects on quitting as a deliberate strategy and when to choose change over indecision.

Economist Paul Romer discusses AI innovation and the economics of ideas. He advocates for human involvement in technology advancement and emphasizes meaningful AI use in education. The podcast explores the real potential of empowering individuals through AI, the pitfalls of overestimating AI progress, and the impact of AI on education for all students.

Throughout his career, Paul Romer has enjoyed sampling and sifting through an ever-growing body of knowledge. He sometimes jokingly refers to himself as a random idea generator, relying on others to filter out the bad ones so his contributions are good. Not a bad strategy, as it turns out, for starting a successful business and winning a Nobel Prize. Just before accepting that Prize, he joined Tyler for a conversation spanning one filtered set of those ideas, including the best policies for growth and innovation, his new thinking on the trilemma facing migration, how to rework higher education, general-purpose technologies, unlocking the power of reading for all kids, fixes for the English language, what economics misses about the 'inside of the head,' whether he's a Jane Jacobs or Gouverneur Morris type, what Kanban taught him about management, his recent sampling of Pierce's semiotics, Clarence White vs. Gram Parsons, his favorite Hot Tuna song, and more. Read a full transcript enhanced with helpful links. Recorded November 14th, 2018 Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Follow Paul 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.

Distressed investing opportunities are discussed, alongside the rise of AI in tech. The distinction between trade of goods and ideas is explored, as well as the role of business in shaping the Republican party.

Paul Romer, a Nobel laureate in economics, shares his journey of redefining economic thought and the importance of creativity in research. He discusses his bold yet controversial concept of charter cities, inspired by Hong Kong's model, and the challenges that come with it. Romer reflects on his tenure at the World Bank, revealing his philosophy on knowing when to quit and pivot, emphasizing that big ideas can't be manufactured. He also tackles the delicate balance of emotions and rationality in economic decision-making, sparking a lively conversation about morality in economic thought.