EconTalk

Economics professor Tyler Cowen discusses using incentives in daily life to make better decisions. Topics include parenting strategies, the economics of dentistry, favorite art museums, navigating tourist experiences in Morocco, and challenges in education and academia.

George Shultz, former U.S. Secretary of State and Hoover Institution fellow, reflects on economics shaping his public service career. He discusses the interplay of morality and pragmatism in foreign policy. He recounts US-Soviet diplomacy in the 1980s, Reykjavík breakthroughs, and why openness and information flow undermined closed regimes.

Paul Romer, Stanford University professor and Hoover Institution Senior Fellow talks with EconTalk host Russ Roberts about growth, China, innovation, and the role of human capital. Also discussed are ideas in creating growth, the idea that ideas allow for increasing returns, and intellectual property and how it should be treated. This 75 minute podcast is a wonderful introduction to thinking about what creates and sustains our standard of living in the modern world.

Deborah M. Gordon, a Professor of Biological Sciences at Stanford and expert on ant behavior, delves into the fascinating world of leaderless ant colonies. She discusses how these colonies self-organize without central control, emphasizing the ingenious division of labor among ants. Gordon compares this natural order to human societies, highlighting unique differences such as human consciousness and choice. The conversation also touches on the costs of foraging and the implications of self-organization, revealing a rich tapestry of collective behavior lessons.

Barry Weingast, Senior Fellow at Stanford University's Hoover Institution and the Ward C. Krebs Family Professor in the Department of Political Science at Stanford University, talks about the ideas in his forthcoming book with Doug North and John Wallis, A Conceptual Framework for Interpreting Recorded Human History. Weingast talks with EconTalk host Russ Roberts about how violence shapes political institutions, the role of competition in politics and economics, and why most development advice from successful nations fails to lift poor nations out of poverty.

Eric Hanushek, Senior Fellow at the Hoover Institution, talks about his research on the impact of educational quality on economic growth. Past efforts to increase the economic growth rate of poor countries have focused on years of schooling, neglecting the quality and true education that needs to take place. Hanushek presents dramatic findings about the decisive nature of cognitive ability and knowledge in driving economic growth. Join us as Hanushek talks with EconTalk host Russ Roberts about his findings and the implications for public policy around the world and in the United States.

David Henderson, editor of the Concise Encyclopedia of Economics and a research fellow at Stanford's Hoover Institution, talks with EconTalk host Russ Roberts about when and why economists disagree. Harry Truman longed for a one-armed economist, one willing to go out on a limb and take an unequivocal position without adding "on the other hand...". Truman's view is often reflected in the public's view that economic knowledge is inherently ambiguous and that economists never agree on anything. Henderson claims that this view is wrong--that there is substantial agreement among economists on many scientific questions--while Roberts wonders whether this consensus is getting a bit frayed around the edges. The conversation highlights the challenges the everyday person faces in trying to know when and what to believe when economists take policy positions based on research. Is it biased or science?

Bruce Bueno de Mesquita, political scientist and game-theory expert, explains campaigning as strategy rather than persuasion. He contrasts rhetorical persuasion with heresthetic coalition-building. He discusses Reagan reframing the Cold War, Yeltsin reshaping Russian politics, the persistence of negative campaigning, and why principled candidates often lose.

A field visit to a ballpark sparks conversations about ticket resale, pricing dynamics, and why people view scalping as wrong. Stories and street interviews show how last-minute markets, online platforms, and professional ticket sellers shape prices. The episode also explores venue pricing choices, enforcement of local scalping laws, and surprising markups at small events.

Ed Leamer, UCLA economist and forecasting director, weighs in on outsourcing, trade, and globalization. He challenges the flat-world idea and explains why geography, trust, and relationship-based work limit offshoring. The conversation contrasts codifiable tasks with creative work, explores gravity in trade, and considers how technology and superstar markets reshape labor and opportunity.