Arnold Kling  

A Basic Economic Lesson

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In the latest econtalk, Russ Roberts just speaks himself. The result may be my favorite of all of his podcasts. If you had just one hour to learn essential, basic economics, listening to this talk would be the way to do it. The core topic is the reasons for income variation across people and over time. It is organized around refuting the claim that rich people need to keep poor people down. Along the way, he takes on (although not by name) the four main biases that Bryan has found among non-economists: anti-foreign bias, make-work bias, anti-market bias, and pessimistic bias.


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CATEGORIES: Income Distribution



COMMENTS (6 to date)
fundamentalist writes:

Anti-foreign bias, make-work bias, anti-market bias, and pessimistic bias aren't just biases of non-economists, but many economists, such as Paul Krugman, Nobel prize winner.

[N.B. Paul Krugman is not a Nobel prize winner. The complete list of Nobel Laureates in economics can be found at the official Nobel site.--Econlib Ed.]

Robinson writes:

"Anti-foreign bias, make-work bias, anti-market bias, and pessimistic bias aren't just biases of non-economists, but many economists, such as Paul Krugman, Nobel prize winner."

Paul Krugman's never won a Nobel Prize.

Blackadder writes:

That podcast was a thing of beauty.

The Sheep Nazi writes:

Krugman did win a Clark Medal, in 1991. According to Wikipedia that gives him about a 40% chance at a Nobel someday.

Speedmaster writes:

I listened to it yesterday myself, very good!

mjh writes:

Ironically, I was listening to it while mowing the lawn.

(If you listened to it, you'd get the irony.)

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