Podcasts about econlog

Play Episode Listen Later Jun 27, 2019 36:59

El 25 de junio de 2019 tuvo lugar en la Fundación Rafael del Pino la conferencia de Bryan Caplan, catedrático de Economía en la Universidad George Mason y columnista de EconLog, titulada “Fronteras abiertas. Por qué el sistema educativo puede ser una pérdida de tiempo y de dinero”, en la que habló de educación y de inmigración. Caplan inició su intervención diciendo que todo el mundo siempre tiene la idea de que nos hace falta una educación mejor. Ahora bien, ningún político dice que estamos dilapidando el dinero que gastamos en ella, y esto es algo muy extraño. De hecho, por lo que se refiere a la educación, los economistas y los políticos siempre están de acuerdo, porque los economistas miden los beneficios financieros que obtiene el individuo y se dan cuenta de que la educación aporta un rendimiento económico en forma de mayores sueldos. Pero cuando se analiza la educación, no solemos darnos cuenta de que, la mayoría de las veces, no se nos enseña una habilidad que sirva más allá de para aprobar un examen. Los empresarios todavía valoran a la gente por el rendimiento que demuestran en la escuela a través de las notas, con independencia de que se trate de matemáticas, literatura o historia. Sin esas notas, no puedes ir a la universidad ni conseguir un buen trabajo. Además, si estudias latín, tienes el futuro despejado porque las grandes universidades te abren las puertas. El modelo de señalización de la educación dice que algunas asignaturas son útiles, como matemáticas, pero hay otras asignaturas, como música, que son irrelevantes. Sin embargo, merece la pena estudiarlas porque convencen al empresario de que eres listo, trabajas duro y eres una persona concienzuda. El colegio, en definitiva, te pone un sello en la frente y cuantos más sellos tengas, más te valorará el empresario. El mercado recompensa a los alumnos por hacer las cosas bien, aunque las asignaturas sean completamente irrelevantes. En Estados Unidos, los estudiantes dedican el 70% de su tiempo a asignaturas que no servirán para nada en el futuro. Además, el nivel de conocimiento de los alumnos es muy bajo. Muchos de ellos, por ejemplo, no saben quién fue Roosvelt. En educación, las cosas inútiles merecen la pena, mientras que las que son útiles no lo merecen. Esto puede apreciarse con el siguiente ejemplo. Si quieres ir a Harvard y tener un título tienes que pagar 70.000 dólares al año. Pero también puedes irte a vivir a Cambridge e ir a las clases de Harvard sin matricularte porque allí nadie te va a pedir un DNI, pasaporte o cualquier otro documento identificativo. Incluso, puedes acercarte a un profesor, decirle que te gusta mucho su asignatura y que quisieras poder asistir a sus clases a lo cual, con toda seguridad, te responderá que encantado y te permitirá acudir. Después de cuatro años habrías adquirido los conocimientos y te habrías ahorrado 280.000 dólares, pero no tendrías un título ni podrías utilizarlo para conseguir un empleo. Si alguien quiere adquirir cualificaciones que le vayan a resultar útiles tendría que encontrar profesores que fuesen estrictos. Pero lo que quieren los alumnos en Estados Unidos son profesores con asignaturas ‘marías’. Eso, sin embargo, es hacerse trampas a uno mismo y degradar el título. Pero estamos en un mundo de titulitis universitaria para poder conseguir un puesto de trabajo. A eso se le llama inflación de titulaciones. El resultado de ello es que ahora, en muchos sitios, necesitas un título universitario para ser camarero. ¿Qué se puede hacer ante esta situación? Ser austeros, gastar menos dinero, y así habrá menos gente con título y, así, a los empleadores no les quedará más remedio que tener en cuenta también a las personas sin título en los procesos de selección de personal. También hay que poner más peso en la formación profesional, como en Alemania o Suiza. Otro tema es la emigración. ¿Por qué a la gente que le gusta la libertad de mercado no le gusta la emigración? Las restricciones al libre movimiento de personas son una restricción gubernamental masiva a la libertad humana. Si un gobierno no te lo permite, no puedes vivir en un sitio. Hay mucha gente que quiere trabajar en el primer mundo que no lo consigue, porque las leyes no se lo permiten. Pero es que cuanto mayores son las diferencias de salarios entre Miami y Puerto Rico, más portorriqueños querrán ir a trabajar a Miami, generando de esta forma más riqueza para el país que los recibe. Muchos liberales defienden la política antiinmigración alegando que esa gente está entrando en el país de forma ilegal. También dicen que los inmigrantes musulmanes van a hacer cosas y quieren que se queden fuera. Un atentado terrorista, sin embargo, depende más de quien se queda fuera que de quien entra. También se dice que, si hay un estado del bienestar, tiene que haber restricciones para que sea viable, que los inmigrantes van a votar por la sharía, etc. Miltron Friedman, sin embargo, defendió la inmigración porque el saldo fiscal que implica es positivo, ya que los ingresos que aportan los inmigrantes al presupuesto público, directa e indirectamente a través de sus actividades, son mayores que los gastos que generan.

miami sin harvard pero tambi adem puerto rico despu cambridge estados unidos esto ahora muchos eso otro fundaci alemania econom incluso suiza pino en estados unidos fronteras dni caplan abiertas bryan caplan econlog roosvelt universidad george mason

Fronteras abiertas. Bryan Caplan - English version

Play Episode Listen Later Jun 27, 2019 37:02

El 25 de junio de 2019 tuvo lugar en la Fundación Rafael del Pino la conferencia de Bryan Caplan, catedrático de Economía en la Universidad George Mason y columnista de EconLog, titulada “Fronteras abiertas. Por qué el sistema educativo puede ser una pérdida de tiempo y de dinero”, en la que habló de educación y de inmigración. Caplan inició su intervención diciendo que todo el mundo siempre tiene la idea de que nos hace falta una educación mejor. Ahora bien, ningún político dice que estamos dilapidando el dinero que gastamos en ella, y esto es algo muy extraño. De hecho, por lo que se refiere a la educación, los economistas y los políticos siempre están de acuerdo, porque los economistas miden los beneficios financieros que obtiene el individuo y se dan cuenta de que la educación aporta un rendimiento económico en forma de mayores sueldos. Pero cuando se analiza la educación, no solemos darnos cuenta de que, la mayoría de las veces, no se nos enseña una habilidad que sirva más allá de para aprobar un examen. Los empresarios todavía valoran a la gente por el rendimiento que demuestran en la escuela a través de las notas, con independencia de que se trate de matemáticas, literatura o historia. Sin esas notas, no puedes ir a la universidad ni conseguir un buen trabajo. Además, si estudias latín, tienes el futuro despejado porque las grandes universidades te abren las puertas. El modelo de señalización de la educación dice que algunas asignaturas son útiles, como matemáticas, pero hay otras asignaturas, como música, que son irrelevantes. Sin embargo, merece la pena estudiarlas porque convencen al empresario de que eres listo, trabajas duro y eres una persona concienzuda. El colegio, en definitiva, te pone un sello en la frente y cuantos más sellos tengas, más te valorará el empresario. El mercado recompensa a los alumnos por hacer las cosas bien, aunque las asignaturas sean completamente irrelevantes. En Estados Unidos, los estudiantes dedican el 70% de su tiempo a asignaturas que no servirán para nada en el futuro. Además, el nivel de conocimiento de los alumnos es muy bajo. Muchos de ellos, por ejemplo, no saben quién fue Roosvelt. En educación, las cosas inútiles merecen la pena, mientras que las que son útiles no lo merecen. Esto puede apreciarse con el siguiente ejemplo. Si quieres ir a Harvard y tener un título tienes que pagar 70.000 dólares al año. Pero también puedes irte a vivir a Cambridge e ir a las clases de Harvard sin matricularte porque allí nadie te va a pedir un DNI, pasaporte o cualquier otro documento identificativo. Incluso, puedes acercarte a un profesor, decirle que te gusta mucho su asignatura y que quisieras poder asistir a sus clases a lo cual, con toda seguridad, te responderá que encantado y te permitirá acudir. Después de cuatro años habrías adquirido los conocimientos y te habrías ahorrado 280.000 dólares, pero no tendrías un título ni podrías utilizarlo para conseguir un empleo. Si alguien quiere adquirir cualificaciones que le vayan a resultar útiles tendría que encontrar profesores que fuesen estrictos. Pero lo que quieren los alumnos en Estados Unidos son profesores con asignaturas ‘marías’. Eso, sin embargo, es hacerse trampas a uno mismo y degradar el título. Pero estamos en un mundo de titulitis universitaria para poder conseguir un puesto de trabajo. A eso se le llama inflación de titulaciones. El resultado de ello es que ahora, en muchos sitios, necesitas un título universitario para ser camarero. ¿Qué se puede hacer ante esta situación? Ser austeros, gastar menos dinero, y así habrá menos gente con título y, así, a los empleadores no les quedará más remedio que tener en cuenta también a las personas sin título en los procesos de selección de personal. También hay que poner más peso en la formación profesional, como en Alemania o Suiza. Otro tema es la emigración. ¿Por qué a la gente que le gusta la libertad de mercado no le gusta la emigración? Las restricciones al libre movimiento de personas son una restricción gubernamental masiva a la libertad humana. Si un gobierno no te lo permite, no puedes vivir en un sitio. Hay mucha gente que quiere trabajar en el primer mundo que no lo consigue, porque las leyes no se lo permiten. Pero es que cuanto mayores son las diferencias de salarios entre Miami y Puerto Rico, más portorriqueños querrán ir a trabajar a Miami, generando de esta forma más riqueza para el país que los recibe. Muchos liberales defienden la política antiinmigración alegando que esa gente está entrando en el país de forma ilegal. También dicen que los inmigrantes musulmanes van a hacer cosas y quieren que se queden fuera. Un atentado terrorista, sin embargo, depende más de quien se queda fuera que de quien entra. También se dice que, si hay un estado del bienestar, tiene que haber restricciones para que sea viable, que los inmigrantes van a votar por la sharía, etc. Miltron Friedman, sin embargo, defendió la inmigración porque el saldo fiscal que implica es positivo, ya que los ingresos que aportan los inmigrantes al presupuesto público, directa e indirectamente a través de sus actividades, son mayores que los gastos que generan.

miami sin harvard pero tambi adem puerto rico despu cambridge estados unidos esto ahora muchos eso otro fundaci alemania econom incluso suiza pino en estados unidos fronteras dni caplan abiertas english version bryan caplan econlog roosvelt universidad george mason

Fronteras abiertas. Bryan Caplan

Play Episode Listen Later Jun 27, 2019 36:59

El 25 de junio de 2019 tuvo lugar en la Fundación Rafael del Pino la conferencia de Bryan Caplan, catedrático de Economía en la Universidad George Mason y columnista de EconLog, titulada “Fronteras abiertas. Por qué el sistema educativo puede ser una pérdida de tiempo y de dinero”, en la que habló de educación y de inmigración. Caplan inició su intervención diciendo que todo el mundo siempre tiene la idea de que nos hace falta una educación mejor. Ahora bien, ningún político dice que estamos dilapidando el dinero que gastamos en ella, y esto es algo muy extraño. De hecho, por lo que se refiere a la educación, los economistas y los políticos siempre están de acuerdo, porque los economistas miden los beneficios financieros que obtiene el individuo y se dan cuenta de que la educación aporta un rendimiento económico en forma de mayores sueldos. Pero cuando se analiza la educación, no solemos darnos cuenta de que, la mayoría de las veces, no se nos enseña una habilidad que sirva más allá de para aprobar un examen. Los empresarios todavía valoran a la gente por el rendimiento que demuestran en la escuela a través de las notas, con independencia de que se trate de matemáticas, literatura o historia. Sin esas notas, no puedes ir a la universidad ni conseguir un buen trabajo. Además, si estudias latín, tienes el futuro despejado porque las grandes universidades te abren las puertas. El modelo de señalización de la educación dice que algunas asignaturas son útiles, como matemáticas, pero hay otras asignaturas, como música, que son irrelevantes. Sin embargo, merece la pena estudiarlas porque convencen al empresario de que eres listo, trabajas duro y eres una persona concienzuda. El colegio, en definitiva, te pone un sello en la frente y cuantos más sellos tengas, más te valorará el empresario. El mercado recompensa a los alumnos por hacer las cosas bien, aunque las asignaturas sean completamente irrelevantes. En Estados Unidos, los estudiantes dedican el 70% de su tiempo a asignaturas que no servirán para nada en el futuro. Además, el nivel de conocimiento de los alumnos es muy bajo. Muchos de ellos, por ejemplo, no saben quién fue Roosvelt. En educación, las cosas inútiles merecen la pena, mientras que las que son útiles no lo merecen. Esto puede apreciarse con el siguiente ejemplo. Si quieres ir a Harvard y tener un título tienes que pagar 70.000 dólares al año. Pero también puedes irte a vivir a Cambridge e ir a las clases de Harvard sin matricularte porque allí nadie te va a pedir un DNI, pasaporte o cualquier otro documento identificativo. Incluso, puedes acercarte a un profesor, decirle que te gusta mucho su asignatura y que quisieras poder asistir a sus clases a lo cual, con toda seguridad, te responderá que encantado y te permitirá acudir. Después de cuatro años habrías adquirido los conocimientos y te habrías ahorrado 280.000 dólares, pero no tendrías un título ni podrías utilizarlo para conseguir un empleo. Si alguien quiere adquirir cualificaciones que le vayan a resultar útiles tendría que encontrar profesores que fuesen estrictos. Pero lo que quieren los alumnos en Estados Unidos son profesores con asignaturas ‘marías’. Eso, sin embargo, es hacerse trampas a uno mismo y degradar el título. Pero estamos en un mundo de titulitis universitaria para poder conseguir un puesto de trabajo. A eso se le llama inflación de titulaciones. El resultado de ello es que ahora, en muchos sitios, necesitas un título universitario para ser camarero. ¿Qué se puede hacer ante esta situación? Ser austeros, gastar menos dinero, y así habrá menos gente con título y, así, a los empleadores no les quedará más remedio que tener en cuenta también a las personas sin título en los procesos de selección de personal. También hay que poner más peso en la formación profesional, como en Alemania o Suiza. Otro tema es la emigración. ¿Por qué a la gente que le gusta la libertad de mercado no le gusta la emigración? Las restricciones al libre movimiento de personas son una restricción gubernamental masiva a la libertad humana. Si un gobierno no te lo permite, no puedes vivir en un sitio. Hay mucha gente que quiere trabajar en el primer mundo que no lo consigue, porque las leyes no se lo permiten. Pero es que cuanto mayores son las diferencias de salarios entre Miami y Puerto Rico, más portorriqueños querrán ir a trabajar a Miami, generando de esta forma más riqueza para el país que los recibe. Muchos liberales defienden la política antiinmigración alegando que esa gente está entrando en el país de forma ilegal. También dicen que los inmigrantes musulmanes van a hacer cosas y quieren que se queden fuera. Un atentado terrorista, sin embargo, depende más de quien se queda fuera que de quien entra. También se dice que, si hay un estado del bienestar, tiene que haber restricciones para que sea viable, que los inmigrantes van a votar por la sharía, etc. Miltron Friedman, sin embargo, defendió la inmigración porque el saldo fiscal que implica es positivo, ya que los ingresos que aportan los inmigrantes al presupuesto público, directa e indirectamente a través de sus actividades, son mayores que los gastos que generan.

miami sin harvard pero tambi adem puerto rico despu cambridge estados unidos esto ahora muchos eso otro fundaci alemania econom incluso suiza pino en estados unidos fronteras dni caplan abiertas bryan caplan econlog roosvelt universidad george mason

Fronteras abiertas. Bryan Caplan - English version

technology harvard philosophy myth ethics george mason university turing altruism cato institute ideological caplan freakonomics turing test mercatus center bryan caplan selfish reasons rational voter econlog

Play Episode Listen Later Jun 27, 2019 37:02

El 25 de junio de 2019 tuvo lugar en la Fundación Rafael del Pino la conferencia de Bryan Caplan, catedrático de Economía en la Universidad George Mason y columnista de EconLog, titulada “Fronteras abiertas. Por qué el sistema educativo puede ser una pérdida de tiempo y de dinero”, en la que habló de educación y de inmigración. Caplan inició su intervención diciendo que todo el mundo siempre tiene la idea de que nos hace falta una educación mejor. Ahora bien, ningún político dice que estamos dilapidando el dinero que gastamos en ella, y esto es algo muy extraño. De hecho, por lo que se refiere a la educación, los economistas y los políticos siempre están de acuerdo, porque los economistas miden los beneficios financieros que obtiene el individuo y se dan cuenta de que la educación aporta un rendimiento económico en forma de mayores sueldos. Pero cuando se analiza la educación, no solemos darnos cuenta de que, la mayoría de las veces, no se nos enseña una habilidad que sirva más allá de para aprobar un examen. Los empresarios todavía valoran a la gente por el rendimiento que demuestran en la escuela a través de las notas, con independencia de que se trate de matemáticas, literatura o historia. Sin esas notas, no puedes ir a la universidad ni conseguir un buen trabajo. Además, si estudias latín, tienes el futuro despejado porque las grandes universidades te abren las puertas. El modelo de señalización de la educación dice que algunas asignaturas son útiles, como matemáticas, pero hay otras asignaturas, como música, que son irrelevantes. Sin embargo, merece la pena estudiarlas porque convencen al empresario de que eres listo, trabajas duro y eres una persona concienzuda. El colegio, en definitiva, te pone un sello en la frente y cuantos más sellos tengas, más te valorará el empresario. El mercado recompensa a los alumnos por hacer las cosas bien, aunque las asignaturas sean completamente irrelevantes. En Estados Unidos, los estudiantes dedican el 70% de su tiempo a asignaturas que no servirán para nada en el futuro. Además, el nivel de conocimiento de los alumnos es muy bajo. Muchos de ellos, por ejemplo, no saben quién fue Roosvelt. En educación, las cosas inútiles merecen la pena, mientras que las que son útiles no lo merecen. Esto puede apreciarse con el siguiente ejemplo. Si quieres ir a Harvard y tener un título tienes que pagar 70.000 dólares al año. Pero también puedes irte a vivir a Cambridge e ir a las clases de Harvard sin matricularte porque allí nadie te va a pedir un DNI, pasaporte o cualquier otro documento identificativo. Incluso, puedes acercarte a un profesor, decirle que te gusta mucho su asignatura y que quisieras poder asistir a sus clases a lo cual, con toda seguridad, te responderá que encantado y te permitirá acudir. Después de cuatro años habrías adquirido los conocimientos y te habrías ahorrado 280.000 dólares, pero no tendrías un título ni podrías utilizarlo para conseguir un empleo. Si alguien quiere adquirir cualificaciones que le vayan a resultar útiles tendría que encontrar profesores que fuesen estrictos. Pero lo que quieren los alumnos en Estados Unidos son profesores con asignaturas ‘marías’. Eso, sin embargo, es hacerse trampas a uno mismo y degradar el título. Pero estamos en un mundo de titulitis universitaria para poder conseguir un puesto de trabajo. A eso se le llama inflación de titulaciones. El resultado de ello es que ahora, en muchos sitios, necesitas un título universitario para ser camarero. ¿Qué se puede hacer ante esta situación? Ser austeros, gastar menos dinero, y así habrá menos gente con título y, así, a los empleadores no les quedará más remedio que tener en cuenta también a las personas sin título en los procesos de selección de personal. También hay que poner más peso en la formación profesional, como en Alemania o Suiza. Otro tema es la emigración. ¿Por qué a la gente que le gusta la libertad de mercado no le gusta la emigración? Las restricciones al libre movimiento de personas son una restricción gubernamental masiva a la libertad humana. Si un gobierno no te lo permite, no puedes vivir en un sitio. Hay mucha gente que quiere trabajar en el primer mundo que no lo consigue, porque las leyes no se lo permiten. Pero es que cuanto mayores son las diferencias de salarios entre Miami y Puerto Rico, más portorriqueños querrán ir a trabajar a Miami, generando de esta forma más riqueza para el país que los recibe. Muchos liberales defienden la política antiinmigración alegando que esa gente está entrando en el país de forma ilegal. También dicen que los inmigrantes musulmanes van a hacer cosas y quieren que se queden fuera. Un atentado terrorista, sin embargo, depende más de quien se queda fuera que de quien entra. También se dice que, si hay un estado del bienestar, tiene que haber restricciones para que sea viable, que los inmigrantes van a votar por la sharía, etc. Miltron Friedman, sin embargo, defendió la inmigración porque el saldo fiscal que implica es positivo, ya que los ingresos que aportan los inmigrantes al presupuesto público, directa e indirectamente a través de sus actividades, son mayores que los gastos que generan.

miami sin harvard pero tambi adem puerto rico despu cambridge estados unidos esto ahora muchos eso otro fundaci alemania econom incluso suiza pino en estados unidos fronteras dni caplan abiertas english version bryan caplan econlog roosvelt universidad george mason

The Turing Test #7: Bryan Caplan

The Turing Test

Play Episode Listen Later Apr 14, 2019

Bryan Caplan is an economist and professor of economics at George Mason University, research fellow at the Mercatus Center, adjunct scholar at the Cato Institute and a frequent contributor to Freakonomics as well as publishing his own blog, EconLog. He’s also the author of the books The Myth of the Rational Voter, Selfish Reasons to … Continue reading "The Turing Test #7: Bryan Caplan"

Ep. 8 David R. Henderson on Working in the Reagan Administration, Krugman’s Inflation Memo, and Publicly Challenging the Secretary of Defense

Bob Murphy Show

Play Episode Listen Later Dec 12, 2018 105:37

(https://www.bobmurphyshow.com/wp-content/uploads/2018/12/david_henderson.jpg) Economist David R. Henderson underwent a personal odyssey in his discovery of free-market economics. David tells Bob the story of his recruitment by Harold Demsetz, and how David ended up at UCLA during its glory days. The conversation turns to David’s time on the Council of Economic Advisors to Ronald Reagan, as well as David’s unusual position as a professor at the Naval Postgraduate School while he was a columnist for Antiwar.com (http://www.antiwar.com) . Mentioned in the Episode and Other Links of Interest: David’s archives (https://www.econlib.org/econlog-by-author-and-letter/?selected_letter=H#dhenderson) at EconLog. David’s books: Making Great Decisions in Business and Life (https://www.amazon.com/gp/product/0976854104/ref=as_li_tl?ie=UTF8&tag=consultingbyr-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=0976854104&linkId=5229beab4a4e2a0d865529506aeff10b) (2006) Bob’s article (http://journal.apee.org/index.php?title=ARTICLES_2018_Journal_of_Private_Enterprise_Vol_33_No_1_Spring_parte5) on the 1970’s price controls on crude oil (and Milton Friedman’s goof in Newsweek). David’s Mercatus paper on “Canada’s Budget Triumph” (https://www.mercatus.org/publication/canada-s-budget-triumph) Bob’s lost inflation bet to David (https://www.econlib.org/archives/2012/12/my_inflation_be.html) . Bob’s book Contra Krugman (http://www.ContraKrugmanBook.com) (which discusses the above events plus a whole lot more!). David on Paul Samuelson (https://www.econlib.org/archives/2010/07/paul_samuelsons.html) predicting a return of depression after WW2 budget cuts. David asks a pointed question (https://web.nps.edu/Video/portal/Video.aspx?enc=57QDj9bL/C3nBPoIBH6nJynwwBZ0U7Ge) of Leon Panetta (beginning at [43:41] in the video). Explanation of Bob’s inside joke about Phil Magness and “madjuncts.” (http://philmagness.com/?p=1873) The sound engineer for this episode was Chris Williams. Learn more about his work at ChrisWilliamsAudio.com (http://www.ChrisWilliamsAudio.com) .

Ep. 671: Bryan Caplan Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Play Episode Listen Later Jun 28, 2018 46:51

My guest today is Bryan Caplan, an economist and professor of economics at George Mason University, research fellow at the Mercatus Center, adjunct scholar at the Cato Institute, and blogger for EconLog. Bryan has written several books–his newest being “The Case against Education: Why the Education System Is a Waste of Time and Money.” His main goal for the book is for people to forget education propaganda, look at what is right in front of them and examine what they have learned first hand. The topic is his book The Case against Education: Why the Education System Is a Waste of Time and Money. In this episode of Trend Following Radio we discuss: Affirmative action Equality without losing quality College vs. no college Problem solving vs. memorization Inert learning Integrating more play in schools Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

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Ep. 671: Bryan Caplan Interview with Michael Covel on Trend Following Radio

Trend Following with Michael Covel

Play Episode Listen Later Jun 28, 2018 46:51

Bryan Caplan is an economist and professor of economics at George Mason University, research fellow at the Mercatus Center, adjunct scholar at the Cato Institute, and blogger for EconLog. Bryan has written several books–his newest being “The Case against Education: Why the Education System Is a Waste of Time and Money.” His main goal for the book is for people to forget education propaganda, look at what is right in front of them and examine what they have learned first hand. From a young age Bryan always wondered, “Why do I need to learn this stuff? I am never going to use it.” The further he got along in school the more passionate he became about that belief. Yet it wasn’t until he started studying economics that he found there were other like-minded people who thought how he was thinking. What is the problem with everyone getting a college degree? To stand out you now need to get another degree. Credential inflation has only gone up. People are spending too many years studying subjects that do not interest them, just to graduate and never use that information again. They get multiple degrees to do a job that would have only taken a high school diploma 30 years ago. It has been ingrained in so many that the education system enriches lives. However, the wall between formal education and practical education is ever growing. Bryan doesn’t hate education, he just believes people need to be more realistic about their interests and learning capabilities. Michael and Bryan finish up discussing Bryan’s new books coming out about poverty and immigration policy. In this episode of Trend Following Radio: Affirmative action Equality without losing quality College vs. no college Problem solving vs. memorization Inert learning Integrating more play in schools

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#32 - Bryan Caplan on whether his Case Against Education holds up, totalitarianism, & open borders

80,000 Hours Podcast with Rob Wiblin

Play Episode Listen Later May 22, 2018 145:12

Bryan Caplan’s claim in *The Case Against Education* is striking: education doesn’t teach people much, we use little of what we learn, and college is mostly about trying to seem smarter than other people - so the government should slash education funding. It’s a dismaying - almost profane - idea, and one people are inclined to dismiss out of hand. But having read the book, I have to admit that Bryan can point to a surprising amount of evidence in his favour. After all, imagine this dilemma: you can have either a Princeton education without a diploma, or a Princeton diploma without an education. Which is the bigger benefit of college - learning or convincing people you’re smart? It’s not so easy to say. For this interview, I searched for the best counterarguments I could find and challenged Bryan on what seem like his weakest or most controversial claims. Wouldn’t defunding education be especially bad for capable but low income students? If you reduced funding for education, wouldn’t that just lower prices, and not actually change the number of years people study? Is it really true that students who drop out in their final year of college earn about the same as people who never go to college at all? What about studies that show that extra years of education boost IQ scores? And surely the early years of primary school, when you learn reading and arithmetic, *are* useful even if college isn’t. I then get his advice on who should study, what they should study, and where they should study, if he’s right that college is mostly about separating yourself from the pack. Full transcript, links to learn more, and summary of key points. We then venture into some of Bryan’s other unorthodox views - like that immigration restrictions are a human rights violation, or that we should worry about the risk of global totalitarianism. Bryan is a Professor of Economics at George Mason University, and a blogger at *EconLog*. He is also the author of *Selfish Reasons to Have More Kids: Why Being a Great Parent is Less Work and More Fun Than You Think*, and *The Myth of the Rational Voter: Why Democracies Choose Bad Policies*. Get this episode by subscribing to our podcast on the world’s most pressing problems and how to solve them: type *80,000 Hours* into your podcasting app. In this lengthy interview, Rob and Bryan cover: * How worried should we be about China’s new citizen ranking system as a means of authoritarian rule? * How will advances in surveillance technology impact a government’s ability to rule absolutely? * Does more global coordination make us safer, or more at risk? * Should the push for open borders be a major cause area for effective altruism? * Are immigration restrictions a human rights violation? * Why aren’t libertarian-minded people more focused on modern slavery? * Should altruists work on criminal justice reform or reducing land use regulations? * What’s the greatest art form: opera, or Nicki Minaj? * What are the main implications of Bryan’s thesis for society? * Is elementary school more valuable than university? * What does Bryan think are the best arguments against his view? * Do years of education affect political affiliation? * How do people really improve themselves and their circumstances? * Who should and who shouldn’t do a masters or PhD? * The value of teaching foreign languages in school * Are there some skills people can develop that have wide applicability? Get this episode by subscribing: search for '80,000 Hours' in your podcasting app. The 80,000 Hours Podcast is produced by Keiran Harris.

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Is Education a Waste of Time and Money with Prof Bryan Caplan. Entrepreneurs Start Ups Successful Business Men and Women: Stories in Business

Stories in Business

Play Episode Listen Later Mar 13, 2018 26:52

Sponsor: Amazon Alexa Skills Udemy Course - Every business, blogger, podcaster, personal brand or anyone interested should have an Alexa Flash Briefing Skill... LEARN how to create one by clicking the link below. Discount is automatically applied when clicking the link below. https://www.udemy.com/alexa-skills-how-to-create-an-alexa-skill-flash-briefing/?couponCode=TOMWICKSTEAD Episode 20: I talk with Prof Bryan Caplan about his book "The Case Against Education" - Why the education system is a waste of time & money. About Bryan: Bryan Caplan, Professor of Economics at George Mason University and blogger for EconLog. I am the author of The Myth of the Rational Voter, named "the best political book of the year" by the New York Times, Selfish Reasons to Have More Kids, and The Case Against Education. I am currently colloborating with *Saturday Morning Breakfast Cereal*’s Zach Weinersmith on All Roads Lead to Open Borders, a non-fiction graphic novel on the philosophy and social science of immigration, and writing a new book, Poverty: Who To Blame. I've published in the New York Times, Washington Post, Wall Street Journal, The Atlantic, American Economic Review, Economic Journal, Journal of Law and Economics, and Intelligence, and appeared on ABC, Fox News, MSNBC, and C-SPAN. An openly nerdy man who loves role-playing games and graphic novels, I live in Oakton, Virginia, with my wife and four kids. Bryan's book is available on amazon.com: https://goo.gl/yyxD4J Connect with Bryan on twitter: https://twitter.com/bryan_caplan Connect with Bryan on his website: www.bcaplan.com ★☆★ SUBSCRIBE TO THE PODCAST ★☆★ ★FOLLOW ME BELOW★ ► Facebook: www.facebook.com/storiesinbusiness ► Linkedin: https://www.linkedin.com/in/tom-wickstead-1a3245158/ ► Instagram: www.instagram.com/storiesinbusiness ► Website / Blog : www.storiesinbusiness.com ► iTunes : https://goo.gl/UMx32j ► Spotify: https://goo.gl/dqNhij Tags: Entrepreneur Entrepreneurs Marketing Social Media Success Motivation Motivational Inspiring Inspirational Conversions Sales Sale Ecommerce Consulting start up business businesses Management Marketing top podcast business podcasts podcasting speaker public speaker keynote media best podcasts Inspiration Millionaires billionaires daily show weekly show successful stories in business Inspirational

Episode #222: The Case Against Education with Bryan Caplan

Future Squared with Steve Glaveski - Helping You Navigate a Brave New World

Play Episode Listen Later Mar 3, 2018 56:16

Bryan Caplan is Professor of Economics at George Mason University. He is the author of The Myth of the Rational Voter which was named "the best political book of the year" by the New York Times, he wrote Selfish Reasons to Have More Kids, and the newly released, The Case Against Education: Why the Education System Is a Waste of Time and Money, which forms the basis of today’s conversation. He is currently collaborating with Saturday Morning Breakfast Cereal Zach Weinersmith on All Roads Lead to Open Borders, a nonfiction graphic novel on the philosophy and social science of immigration, and writing a new book, Poverty: Who To Blame. His work has been featured in the New York Times, Washington Post, Wall Street Journal, The Atlantic, American Economic Review, Economic Journal, Journal of Law and Economics, and Intelligence, and appeared on ABC, Fox News, MSNBC, and C-SPAN. We went an inch deep and a mile wide in this conversation. Discover why: Bryan, a celebrated career academic himself, thinks that the education system is a waste of time and money How today’s education system teaches for short-term memory retention, not comprehension Two solutions Bryan has proposed to help solve the problems with today’s education system I didn’t agree with Bryan on a number of topics, namely, he seems to completely disregard the threat of technology and automation on employment, suggesting that there is a lack of evidence on this and using the fact that we’ve always created more jobs than we’ve destroyed in the past to forecast the future of employment. The thing about the past is that we never had technology like the kind we possess today and the kind we’ll possess in the near future. He also says that people can’t learn how to learn. On the latter point, I suspect that this had more to do with the way I framed the question so as to not elicit the response I was expecting. A simple example of getting better at learning is teaching someone else what you’ve read in a book, rather than just reading the words on a page. This is more likely to aid comprehension and retention, at least in the short term. Nonetheless, as you’ll hear Bryan suggest in the lightning round, it’s important to collect evidence and opinions from different fields, from different people, to get all sides of the story and challenge your own belief system and avoid confirmation bias. This is one of the reasons why I enjoy hosting this show so much - because I get to interview and speak with experts in their own fields who contradict experts in other fields - it forces me to expand my own view of the world. And when it comes to learning, Socrates was right, the more we know, the more we know that we don’t know. And that is why we keep learning. And that is why I keep interviewing thought leaders across a range of disciplines. With that, enjoy today’s conversation on the case against education with Bryan Caplan. Topics Discussed: Why the education system is a waste of time and money Why College grads earn more than high school grads, on average, in the US Learning skills versus signalling employability The three traits that education signals Whether education and entrepreneurship go hand in hand Social desirability bias Summer learning loss Comprehension v Memory The threat of AI and automation on employment and how this impacts education Education ecosystem challenges Vocational learning Education spending cuts Show Notes: Bryan’s website: Bcaplan.com Bryan on Twitter: @bryan_caplan Faculty page: https://economics.gmu.edu/people/bcaplan Bryan on Econlog: http://econlog.econlib.org/authorbcaplan.html Get Bryan's books: The Case Against Education: https://amzn.to/2BMgPuE The Myth of the Rational Voter: https://amzn.to/2BPo5FS Selfish Reasons to Have More Kids: https://amzn.to/2Lr9rUR Join the conversation on Facebook: https://www.facebook.com/groups/futuresquared/ where you can discuss episodes, request guests, propose questions for forthcoming guests and access exclusive content and special offers! Listen on iTunes @ goo.gl/sMnEa0 Listen on Stitcher @ www.stitcher.com/podcast/future Listen on Google Play @ bit.ly/FSGoog ‍ If you've got any questions on this podcast feel free to send an email to steve@collectivecamp.us or tweet me on Twitter @steveglaveski or @future_squared Follow me on Instagram: @thesteveglaveski Like us? ‍ It'd make our day if you took 1 minute to show some love on iTunes, Stitcher or Soundcloud by subscribing, sharing and giving us a 5 star rating. ‍ To sign up to our mailing list head to www.futuresquared.xyz For more information on Collective Campus, our innovation hub, school and consultancy based in Australia and Singapore check out www.collectivecampus.io

Bryan Caplan - Education is a Waste of Time and Money

Smart People Podcast

Play Episode Listen Later Feb 12, 2018 52:10

It's not often I truly feel that a guest changes my paradigm on the spot - but this is an exception.This week we speak with Bryan Caplan about his newest book, The Case against Education: Why the Education System Is a Waste of Time and Money. As Bryan explains, despite being immensely popular--and immensely lucrative—education is grossly overrated. Bryan argues that the primary function of education is not to enhance students' skill but to certify their intelligence, work ethic, and conformity—in other words, to signal the qualities of a good employee. In fact, decades of growing access to education have not resulted in better jobs for the average worker but instead in runaway credential inflation, yet employers still reward workers for costly schooling they rarely if ever use. Therefore, his recommendation is to cut education spending.Caplan draws on the latest social science to show how the labor market values grades over knowledge, and why the more education your rivals have, the more you need to impress employers. He explains why graduation is our society's top conformity signal, and why even the most useless degrees can certify employability. He advocates two major policy responses. The first is educational austerity. Government needs to sharply cut education funding to curb this wasteful rat race. The second is more vocational education, because practical skills are more socially valuable than teaching students how to outshine their peers.Bryan Caplan is professor of economics at George Mason University and a blogger at EconLog. He is the author of Selfish Reasons to Have More Kids: Why Being a Great Parent Is Less Work and More Fun than You Think and The Myth of the Rational Voter: Why Democracies Choose Bad Policies.http://www.bcaplan.com/

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Caplan Family School Graduation Interview

Play Episode Listen Later Sep 5, 2017 81:24

After graduating from the Caplan Family School, Aidan and Tristan Caplan discuss their homeschooling experiences with their father and teacher, Bryan Caplan, professor of economics at George Mason University, blogger for EconLog, and author of *The Case Against Education*, forthcoming from Princeton University Press.

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Dr. Bryan Caplan Asks Is Immigration a Basic Human Right?

Liberty Talk Radio

Play Episode Listen Later Jun 13, 2017 57:00

Bryan Caplan is Professor of Economics at George Mason University and blogger for EconLog. He is the author of The Myth of the Rational Voter, named "the best political book of the year" by the New York Times, Selfish Reasons to Have More Kids, and The Case Against Education, forthcoming in 2017 from Princeton University Press. He is currently working on All Roads Lead to Open Borders, a non-fiction graphic novel on the philosophy and social science of immigration, and Poverty: Who To Blame. During this segment, we will attempt to answer the question of whether immigration, aka open borders, is a basic human right. Listen in and call in with your questions, or comments, 646-652-4620. Look forward to hearing from you.

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The Scott Sumner Seminar - The Great Recession and Nominal GDP Targeting

NIESR Podcast

Play Episode Listen Later Nov 29, 2016 75:13

Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center and a prominent blogger (TheMoneyIllusion.com, Econlog). His research is in the field of monetary economics, particularly the role of the gold standard in the Great Depression, which he explored in a book entitled “The Midas Paradox” published in 2015. He has also published in the Journal of Political Economy, the Journal of Money, Credit and Banking, and Economic Inquiry. His policy work has focused on the importance of expectations, particularly the idea of using futures markets to guide monetary policy. In this seminar Sumner will argue that the Great Recession has been widely misdiagnosed, and was primarily caused by an excessively tight monetary policy by the Fed, the ECB and most other major central banks.

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079: Bryan Caplan on Parenting, the Case Against Education and the Rational Voter

Economic Rockstar

Play Episode Listen Later Mar 30, 2016 40:20

Bryan Caplan is Professor of Economics at George Mason University and Senior Scholar at the Mercatus Center. Bryan is the author of The Myth of the Rational Voter: Why Democracies Choose Bad Policies, named "the best political book of the year" by the New York Times, and Selfish Reasons to Have More Kids: Why Being a Great Parent Is Less Work and More Fun Than You Think. He also blogs at EconLog. He is now working on a new book, The Case Against Education. Check out the show notes page to this episode at www.economicrockstar.com/bryancaplan where you will find links to all the resources mentioned.

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Income and Wealth Inequality with David R. Henderson

Economics Detective Radio

Play Episode Listen Later Jul 7, 2015

…or How I Learned to Stop Worrying and Love Inequality. David R. Henderson (http://www.davidrhenderson.com) is a research fellow at Stanford University’s Hoover Institution, and a professor of economics at the Graduate School of Business and Public Policy, Naval Postgraduate School, in Monterey, California. Thomas Piketty’s Capital in the 21st Century (http://amzn.to/1LT9jLG) managed to do something unprecedented among equation-dense economic tomes, it became the #1 selling book on Amazon.com. The book tapped in to a hot topic among politicians and the general public: the high (and possibly rising) wealth and income shares of the top 1%. However, David points out that although the book was a best-seller, it wasn’t actually a best-reader. Amazon logs the sentences people highlight, and the top five most-highlighted sentences in Capital all appear in the first 26 pages (www.wsj.com/articles/the-summers-most-unread-book-is-1404417569). It seems that, at least among kindle readers, most people didn’t make it past the introduction. It appears that people buy the book to back up the views they already hold. David thinks that the huge interest in economic inequality in general and the wealth of the 1% in particular was sparked in the 1990s by politicians, including Al Gore, and picked up by journalists like Sylvia Nasar (https://en.wikipedia.org/wiki/Sylvia_Nasar), before influencing the economics debate. Piketty has been able to ride this wave of public interest at what appears to be its crest. David distinguishes between inequality of wealth, inequality of income, and inequality of power. Income inequality is the difference in the amount of income we each take in in wages, interest, dividends, and government transfers (e.g. welfare or social security payments), the four main sources of income for most people. Wealth should ideally include the total value of a person’s assets in addition to the stream of income he is likely to earn in the future, though this stream is more often ignored in wealth statistics. Wealth inequality is not the same as income inequality. Critically, since people earn variable income throughout their lives, income inequality doesn’t capture what we think of as the gap between “rich” and “poor.” Retired people who own two-million-dollar homes might have low incomes, but they certainly aren’t poor. Or, to use an example that’s relevant to myself, as a PhD student my income probably sits in the bottom quintile, and yet I can expect a much higher income after I graduate. The major factor in both income inequality and wealth inequality (measured by current assets and not expected earnings) is age. Teenagers earn little or nothing, but they grow into adults and gain skills and education, their incomes rise, and they gain wealth through savings. Even if everyone had the same lifetime earnings, there would still be significant inequality in any given year since some people would be young low-earners, while others would be older, wealthier high-earners. And since the older people would have had the chance to accumulate wealth over a lifetime, they would have twenty times the wealth of their younger counterparts. While there is a correlation between wealth and power, that correlation is by no means perfect. David gives the example of Bill Gates who discovered the hard way that when you have too little political influence, it can be costly. Gates was hit with a long and costly antitrust suit, after which he greatly expanded his lobbying efforts; he had learned his lesson. David agrees with Joseph Stiglitz’ argument (http://amzn.to/1LT9dDC), to some extent, that large accumulations of wealth are the result of rent seeking. Local governments restrict the building of new homes and developments that could expand the supply of housing. Thus, they keep real estate prices artificially high to the benefit of those who already own their homes. This is an example of successful rent seeking by homeowners to the detriment of non-homeowners. However, while Stiglitz would argue that this justifies a higher tax rate on the wealthy, David prefers the more direct solution of simply reducing or removing these restrictions. The following are also mentioned in this episode: Wealth Inequality in America (https://www.youtube.com/watch?v=QPKKQnijnsM) Piketty and Saez vs. Burkhauser and Cornell: Who’s right on income inequality and stagnation? (https://www.aei.org/publication/piketty-and-saez-vs-burkhauser-and-cornell-whos-right-on-income-inequality-and-stagnation/) Income and Wealth by Alan Reynolds (http://amzn.to/1LOy1Ma) The Boskin Commission (https://en.wikipedia.org/wiki/Boskin_Commission) Myths of Rich and Poor by W. Michael Cox and Richard Alm (http://amzn.to/1NOvEYR) Mark J. Perry on individual income inequality (https://www.aei.org/publication/sorry-krugman-piketty-and-stiglitz-income-inequality-for-individual-americans-has-been-flat-for-more-than-50-years/) Greg Mankiw’s favourite textbook (http://amzn.to/1Rihq8j) Bernie Madoff (https://en.wikipedia.org/wiki/Bernard_Madoff) The McCulloch chainsaw (https://en.wikipedia.org/wiki/Robert_P._McCulloch) Lyndon B. Johnson (https://en.wikipedia.org/wiki/Lyndon_B._Johnson) David’s review of Capital in the 21st Century for Regulation (http://object.cato.org/sites/cato.org/files/serials/files/regulation/2014/10/regulationv37n3-9.pdf) David’s (unexpectedly) controversial EconLog post about ordinal utility (http://econlog.econlib.org/archives/2015/05/tyler_cowen_on_14.html) Robert Solow’s review of Capital in the 21st Century (http://www.newrepublic.com/article/117429/capital-twenty-first-century-thomas-piketty-reviewed) Matthew Rognlie’s response to Piketty (http://www.newrepublic.com/article/117429/capital-twenty-first-century-thomas-piketty-reviewed) and Randal O’Toole’s comment on Rognlie’s response (http://www.cato.org/blog/housing-wealth-inequality) Branko Milanović’s blog on global inequality (http://glineq.blogspot.ca/) David’s article on The Bottom One Percent (http://www.hoover.org/research/bottom-one-percent) Peter Jaworski (http://explore.georgetown.edu/people/pj87/?action=viewpublications&PageTemplateID=360 Is Government the Source of Monopoly? By Yale Brozen (http://amzn.to/1HdvyI0)

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Ep. 307: Bryan Caplan Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Play Episode Listen Later Jan 5, 2015 40:21

My guest today is Bryan Caplan, an American economist and professor of economics at George Mason University, research fellow at the Mercatus Center, adjunct scholar at the Cato Institute, and blogger for EconLog. He works in public choice theory. His books include The Myth of the Rational Voter and Selfish Reasons to Have More Kids. He has also written extensively on open borders and pacifism. The topic is economics. In this episode of Trend Following Radio we discuss: Voting, rationality Defining “rational irrationality” What voting patterns in America might look like if the American stock market looked like the Japanese stock market Economic growth in benevolent dictatorships vs. republics like the USA The anti-poverty program in China Caplan's view on immigration and its effect on the economy The case for more kids, and why Caplan was so passionate and so inspired as to put out a book on the subject Why genetics matter more than the style in which you raise your kids Thomas Piketty's “Capital in the Twenty-First Century” and wealth and income inequality Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Ep. 307: Bryan Caplan Interview with Michael Covel on Trend Following Radio

Trend Following with Michael Covel

Play Episode Listen Later Jan 4, 2015 40:21

Michael Covel speaks with Bryan Caplan on today’s podcast. Caplan is an American economist and professor of economics at George Mason University, research fellow at the Mercatus Center, adjunct scholar at the Cato Institute, and blogger for EconLog. He works in public choice theory. His books include The Myth of the Rational Voter and Selfish Reasons to Have More Kids. He has also written extensively on open borders and pacifism. Covel and Caplan discuss voting, rationality; defining “rational irrationality”; what voting patterns in America might look like if the American stock market looked like the Japanese stock market; economic growth in benevolent dictatorships vs. republics like the USA; the anti-poverty program in China; Caplan’s view on immigration and its effect on the economy; the case for more kids, and why Caplan was so passionate and so inspired as to put out a book on the subject; why genetics matter more than the style in which you raise your kids; Thomas Piketty’s “Capital in the Twenty-First Century” and wealth and income inequality. Want a free trend following DVD? Go to trendfollowing.com/win.

Price Theory and the Minimum Wage

Economics Detective Radio

Play Episode Listen Later Sep 12, 2014 51:29

The minimum wage is a contentious issue among economists, and yet it enjoys near-universal support among the public. In my view, public views of the minimum wage are simply the result of a lack of careful thought by most people. Daniel Kahneman’s theory that people, when faced with a difficult question, substitute a simpler question that they can easily answer, applies particularly well in this case. People answer the question of whether they would like people to earn more when the real question is whether government should mandate higher wages (I first heard this argument from Bryan Caplan on EconLog). A purely empirical argument for or against the minimum wage is methodologically wrong-headed because empirics do not speak for themselves. Sound theory must be the economist’s first tool in understanding the effect of a policy such as the minimum wage. Before we can understand something like the minimum wage, we must understand the role of prices in allocating factors of production to their various uses. The price of a factor signals to entrepreneurs that that factor is scarce, that it is needed elsewhere in the economy, and that the entrepreneur who can reduce his usage of relatively more scarce factors in favour of relatively less scarce ones can earn profits, while entrepreneurs who fail to do so earn losses. I give the example of a sandwich shop during an oil boom; the high price of labour caused by the oil boom leads the sandwich shop to substitute away from labour in various ways. The oil boom in my illustration is irrelevant to the story. The sandwich shop would adapt to an increased price of labour no matter what caused it. If the cause is a minimum wage law, the people no longer employed making sandwiches are involuntarily unemployed rather than finding employment in some other industry. Minimum wage opponents sometimes get into trouble when they draw supply and demand curves to illustrate the impact of the price floor. The problem with this is that supply and demand diagrams come with built-in assumptions that do not hold true in the case of labour markets. Low-skilled labour is not a homogeneous quantity being sold in a centralized market. The simple supply-and-demand story does not capture all the effects of the minimum wage. For instance, firms substitute between different sorts of workers affected by the minimum wage. In addition, the other terms of employment contracts can change in response to a minimum wage law, such as training and benefits.

sound price theory minimum minimum wage daniel kahneman bryan caplan econlog

Bryan Caplan on College, Signaling and Human Capital

Rob Wiblin's top recommended EconTalk episodes v0.2 Feb 2020

Play Episode Listen Later Apr 7, 2014 62:59

Bryan Caplan of George Mason University and blogger at EconLog talks to EconTalk host Russ Roberts about the value of a college education. Caplan argues that the extra amount that college graduates earn relative to high school graduates is misleading as a guide for attending college--it ignores the fact that a sizable number of students don't graduate and never earn that extra money. Caplan argues that the monetary benefits of a college education have a large signaling component rather than representing the value of the knowledge that's learned. Caplan closes by arguing that the subsidies to education should be reduced rather than increased.

education college economics employment signals earnings graduates george mason university human capital signaling caplan bryan caplan russ roberts econtalk econlog econlib

Bryan Caplan on College, Signaling and Human Capital

Rob Wiblin's top recommended EconTalk episodes v0.2 Feb 2020

Play Episode Listen Later Apr 7, 2014 62:59

Bryan Caplan of George Mason University and blogger at EconLog talks to EconTalk host Russ Roberts about the value of a college education. Caplan argues that the extra amount that college graduates earn relative to high school graduates is misleading as a guide for attending college--it ignores the fact that a sizable number of students don't graduate and never earn that extra money. Caplan argues that the monetary benefits of a college education have a large signaling component rather than representing the value of the knowledge that's learned. Caplan closes by arguing that the subsidies to education should be reduced rather than increased.

education college economics employment signals earnings graduates george mason university human capital signaling caplan bryan caplan russ roberts econtalk econlog econlib

Bryan Caplan on College, Signaling and Human Capital

EconTalk Archives, 2014

Play Episode Listen Later Apr 7, 2014 62:59

Bryan Caplan of George Mason University and blogger at EconLog talks to EconTalk host Russ Roberts about the value of a college education. Caplan argues that the extra amount that college graduates earn relative to high school graduates is misleading as a guide for attending college--it ignores the fact that a sizable number of students don't graduate and never earn that extra money. Caplan argues that the monetary benefits of a college education have a large signaling component rather than representing the value of the knowledge that's learned. Caplan closes by arguing that the subsidies to education should be reduced rather than increased.

education college economics employment signals earnings graduates george mason university human capital signaling caplan bryan caplan russ roberts econtalk econlog econlib

Why Government Fails So Often: And How It Can Do Better

Cato Event Podcast

Play Episode Listen Later Mar 27, 2014 78:06

From the doctor’s office to the workplace, the federal government is taking on ever more responsibility for managing our lives. At the same time, Americans have never been more disaffected with Washington, seeing it as an intrusive, incompetent, wasteful giant. In this book, lawyer and political scientist Peter Schuck lays out a wide range of examples and an enormous body of evidence to explain why so many domestic policies go awry. Economist David Henderson, research fellow at the Hoover Institution and coeditor of EconLog, lauds the book as full of “gems” and “juicy” insights: “Schuck does a beautiful job of laying out all the problems with government intervention.” But can the state get better results by pursuing more thoughtfully conceived policies designed to compensate for its structural flaws? Schuck believes it can. Many libertarians will disagree — and that debate will enliven our discussion. See acast.com/privacy for privacy and opt-out information.

washington americans government fails hoover institution schuck econlog peter schuck

Caplan on Parenting

Play Episode Listen Later May 9, 2011 67:44

Bryan Caplan of George Mason University and EconLog talks with EconTalk host Russ Roberts about the ideas in Caplan's new book, Selfish Reasons to Have More Kids. Caplan argues that parents spend too much time trying to influence how their kids will turn out as adults. Using research on twins and adopted children, Caplan argues that nature dominates nurture and that parents have little lasting influence on many aspects of their children's lives. He concludes that parents should spend less time and energy trying to influence their children. If parenting takes less time, then have more kids, says Caplan. The conversation concludes with a discussion of whether a larger population is bad for the planet.

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Caplan on Parenting

Play Episode Listen Later May 9, 2011 67:44

Bryan Caplan of George Mason University and EconLog talks with EconTalk host Russ Roberts about the ideas in Caplan's new book, Selfish Reasons to Have More Kids. Caplan argues that parents spend too much time trying to influence how their kids will turn out as adults. Using research on twins and adopted children, Caplan argues that nature dominates nurture and that parents have little lasting influence on many aspects of their children's lives. He concludes that parents should spend less time and energy trying to influence their children. If parenting takes less time, then have more kids, says Caplan. The conversation concludes with a discussion of whether a larger population is bad for the planet.

children parents parenting economics twins population george mason university caplan bryan caplan russ roberts econtalk selfish reasons have more kids econlog econlib

Caplan on Parenting

EconTalk Archives, 2011

Play Episode Listen Later May 9, 2011 67:44

Bryan Caplan of George Mason University and EconLog talks with EconTalk host Russ Roberts about the ideas in Caplan's new book, Selfish Reasons to Have More Kids. Caplan argues that parents spend too much time trying to influence how their kids will turn out as adults. Using research on twins and adopted children, Caplan argues that nature dominates nurture and that parents have little lasting influence on many aspects of their children's lives. He concludes that parents should spend less time and energy trying to influence their children. If parenting takes less time, then have more kids, says Caplan. The conversation concludes with a discussion of whether a larger population is bad for the planet.

children parents parenting economics twins population george mason university caplan bryan caplan russ roberts econtalk selfish reasons have more kids econlog econlib

Kling on Patterns of Sustainable Specialization and Trade

EconTalk Archives, 2011

Play Episode Listen Later Feb 7, 2011 69:22

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about a new paradigm for thinking about macroeconomics and the labor market. Kling calls it PSST--patterns of sustainable specialization and trade. Kling rejects the Keynesian approach that emphasizes shortfalls in aggregate demand arguing that the aggregate demand approach masks the underlying complexity of the recalculations that periodically take place in a dynamic economy. Instead, Kling invokes the mutual exploration between entrepreneurs and workers for profitable opportunities that pay well using the workers' skills. This exploration takes time, involves trial and error, and can have false starts because businesses sometimes fail or employees are difficult to find or match with employment opportunities. Kling applies these ideas to the current crisis to explain why labor market recovery is so sluggish and what might policies might improve matters.

trade economics labor sustainable patterns specialization macroeconomics kling keynesian russ roberts econtalk arnold kling econlog econlib

Kling on Patterns of Sustainable Specialization and Trade

Play Episode Listen Later Feb 7, 2011 69:22

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about a new paradigm for thinking about macroeconomics and the labor market. Kling calls it PSST--patterns of sustainable specialization and trade. Kling rejects the Keynesian approach that emphasizes shortfalls in aggregate demand arguing that the aggregate demand approach masks the underlying complexity of the recalculations that periodically take place in a dynamic economy. Instead, Kling invokes the mutual exploration between entrepreneurs and workers for profitable opportunities that pay well using the workers' skills. This exploration takes time, involves trial and error, and can have false starts because businesses sometimes fail or employees are difficult to find or match with employment opportunities. Kling applies these ideas to the current crisis to explain why labor market recovery is so sluggish and what might policies might improve matters.

trade economics labor sustainable patterns specialization macroeconomics kling keynesian russ roberts econtalk arnold kling econlog econlib

Caplan on Immigration

Play Episode Listen Later Oct 4, 2010 73:24

Bryan Caplan of George Mason University and EconLog blogger talks with EconTalk host Russ Roberts about immigration. Caplan takes on the common arguments against open borders and argues that they are either exaggerated or can be overcome while still allowing more immigration than is currently allowed in the United States.

united states economics immigration borders immigrants george mason university caplan bryan caplan russ roberts econtalk econlog econlib

Caplan on Immigration

Play Episode Listen Later Oct 4, 2010 73:24

Bryan Caplan of George Mason University and EconLog blogger talks with EconTalk host Russ Roberts about immigration. Caplan takes on the common arguments against open borders and argues that they are either exaggerated or can be overcome while still allowing more immigration than is currently allowed in the United States.

united states economics immigration borders immigrants george mason university caplan bryan caplan russ roberts econtalk econlog econlib

Kling on Knowledge, Power, and Unchecked and Unbalanced

Play Episode Listen Later Sep 6, 2010 66:40

Arnold Kling of EconLog and author of Unchecked and Unbalanced, talks with EconTalk host Russ Roberts about the book and the relationship between knowledge and power. In a modern economy, specialization has increased and knowledge is increasingly dispersed. But political power has become more concentrated and fails to exploit the potential for decentralization. Kling discusses these trends and the potential for decentralization of power under different policies.

economics specialization decentralization unchecked kling unbalanced government policy dispersion russ roberts econtalk arnold kling econlog econlib

Kling on Knowledge, Power, and Unchecked and Unbalanced

Play Episode Listen Later Sep 6, 2010 66:40

Arnold Kling of EconLog and author of Unchecked and Unbalanced, talks with EconTalk host Russ Roberts about the book and the relationship between knowledge and power. In a modern economy, specialization has increased and knowledge is increasingly dispersed. But political power has become more concentrated and fails to exploit the potential for decentralization. Kling discusses these trends and the potential for decentralization of power under different policies.

economics specialization decentralization unchecked kling unbalanced government policy dispersion russ roberts econtalk arnold kling econlog econlib

Kling on the Unseen World of Banking, Mortgages, and Government

Play Episode Listen Later Jul 5, 2010 61:30

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the weird world of banking. Why do mortgages look the way they do? What do banks contribute to economic activity? How does regulation and legislation change the structure of what banks do? What would banks look like and the housing market look like if government were less involved? Kling discusses these questions and more including the hidden subsidies built into the current structure of the mortgage market. The conversation is an imaginative exercise in the microeconomics of finance and credit.

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Kling on the Unseen World of Banking, Mortgages, and Government

Play Episode Listen Later Jul 5, 2010 61:30

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the weird world of banking. Why do mortgages look the way they do? What do banks contribute to economic activity? How does regulation and legislation change the structure of what banks do? What would banks look like and the housing market look like if government were less involved? Kling discusses these questions and more including the hidden subsidies built into the current structure of the mortgage market. The conversation is an imaginative exercise in the microeconomics of finance and credit.

government economics banks housing banking regulation mortgage kling unseen world russ roberts econtalk arnold kling econlog econlib

Caplan on Hayek, Richter, and Socialism

Play Episode Listen Later Jun 28, 2010 69:08

Bryan Caplan of George Mason University and blogger at EconLog talks to EconTalk host Russ Roberts about two books: Eugene Richter's Pictures of the Socialistic Future and F. A. Hayek's The Road to Serfdom. Both books warn against the dangers of socialism. Pictures of a Socialistic Future, published in 1891 is a dystopian novel imagining what life would be like after a socialist revolution. The Road to Serfdom, published in 1944, explores the links between economic freedom and political freedom and the inherent similarities between communism and fascism. Both books look at the German roots of centralized planning and the nature of the people who rise to power when the State is powerful. The conversation includes discussion of the these topics as well as the rule of law and the amount of state control of the economy in Nazi Germany.

state germany german economics pictures socialism communism richter nazi germany george mason university hayek caplan bryan caplan serfdom russ roberts econtalk central planning econlog econlib

Caplan on Hayek, Richter, and Socialism

Play Episode Listen Later Jun 28, 2010 69:08

Bryan Caplan of George Mason University and blogger at EconLog talks to EconTalk host Russ Roberts about two books: Eugene Richter's Pictures of the Socialistic Future and F. A. Hayek's The Road to Serfdom. Both books warn against the dangers of socialism. Pictures of a Socialistic Future, published in 1891 is a dystopian novel imagining what life would be like after a socialist revolution. The Road to Serfdom, published in 1944, explores the links between economic freedom and political freedom and the inherent similarities between communism and fascism. Both books look at the German roots of centralized planning and the nature of the people who rise to power when the State is powerful. The conversation includes discussion of the these topics as well as the rule of law and the amount of state control of the economy in Nazi Germany.

state germany german economics pictures socialism communism richter nazi germany george mason university hayek caplan bryan caplan serfdom russ roberts econtalk central planning econlog econlib

Kling on Prosperity, Poverty, and Economics 2.0

EconTalk Archives, 2009

Play Episode Listen Later Dec 14, 2009 58:21

Arnold Kling of EconLog and the author (with Nick Schulz) of From Poverty to Prosperity: Intangible Assets, Hidden Liabilities and the Lasting Triumph over Scarcity talks about the book with EconTalk host Russ Roberts. Kling discusses how modern economists think about growth in both developed and undeveloped countries and contrasts those ideas with earlier views in economics. The focus of the modern understanding is on ideas and the ability of ideas to improve technology, leading to prosperity. Unlike physical capital, ideas can be enjoyed by many people at once, explaining why past models that ignored ideas and focused on physical capital failed to account for the observed magnitude of economic development. Kling also discusses the success of China and India.

china ideas economics capital poverty prosperity scarcity economic development kling russ roberts econtalk arnold kling econlog econlib

Kling on Prosperity, Poverty, and Economics 2.0

Play Episode Listen Later Dec 14, 2009 58:21

Arnold Kling of EconLog and the author (with Nick Schulz) of From Poverty to Prosperity: Intangible Assets, Hidden Liabilities and the Lasting Triumph over Scarcity talks about the book with EconTalk host Russ Roberts. Kling discusses how modern economists think about growth in both developed and undeveloped countries and contrasts those ideas with earlier views in economics. The focus of the modern understanding is on ideas and the ability of ideas to improve technology, leading to prosperity. Unlike physical capital, ideas can be enjoyed by many people at once, explaining why past models that ignored ideas and focused on physical capital failed to account for the observed magnitude of economic development. Kling also discusses the success of China and India.

china ideas economics capital poverty prosperity scarcity economic development kling russ roberts econtalk arnold kling econlog econlib

Kling on Credit Default Swaps, Counterparty Risk, and the Political Economy of Financial Regulation

Play Episode Listen Later Nov 10, 2008 63:43

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the role of credit default swaps and counterparty risks in the current financial mess. The conversation opens with the logistics of credit default swaps and counterparty risks and moves on to their role in the financial collapse. The conversation closes with a discussion of the political economy of pending financial regulation.

risk economics markets political economy kling financial regulation russ roberts econtalk counterparty arnold kling credit default swaps econlog econlib

Kling on Credit Default Swaps, Counterparty Risk, and the Political Economy of Financial Regulation

EconTalk Archives, 2008

Play Episode Listen Later Nov 10, 2008 63:43

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the role of credit default swaps and counterparty risks in the current financial mess. The conversation opens with the logistics of credit default swaps and counterparty risks and moves on to their role in the financial collapse. The conversation closes with a discussion of the political economy of pending financial regulation.

risk economics markets political economy kling financial regulation russ roberts econtalk counterparty arnold kling credit default swaps econlog econlib

Kling on Freddie and Fannie and the Recent History of the U.S. Housing Market

EconTalk Archives, 2008

Play Episode Listen Later Sep 29, 2008 97:11

Arnold Kling of EconLog talks with host Russ Roberts about the economics of the housing market with a focus on the role of Fannie Mae and Freddie Mac. The conversation closes with a postscript on the current financial crisis.

economics mortgage housing market financial crisis fannie mae freddie mac kling subprime recent history russ roberts arnold kling econlog econlib

Kling on Freddie and Fannie and the Recent History of the U.S. Housing Market

Play Episode Listen Later Sep 29, 2008 97:11

Arnold Kling of EconLog talks with host Russ Roberts about the economics of the housing market with a focus on the role of Fannie Mae and Freddie Mac. The conversation closes with a postscript on the current financial crisis.

economics mortgage housing market financial crisis fannie mae freddie mac kling subprime recent history russ roberts arnold kling econlog econlib

Kling on Hospitals and Health Care

EconTalk Archives, 2008

Play Episode Listen Later Jun 30, 2008 59:26

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the death of his father and the lessons to be learned for how hospitals treat patients and our health care system treats hospitals.

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Kling on Hospitals and Health Care

Play Episode Listen Later Jun 30, 2008 59:26

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the death of his father and the lessons to be learned for how hospitals treat patients and our health care system treats hospitals.

healthcare hospitals economics project managers kling russ roberts econtalk arnold kling econlog econlib

Arnold Kling on the Economics of Health Care and the Crisis of Abundance

Play Episode Listen Later Nov 5, 2007 58:53

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the economics of health care and his book, A Crisis of Abundance: Rethinking How We Pay for Health Care. Kling discusses whether we get what we pay for when we spend money on health care, why health care isn't like cars, and why health care insurance isn't really insurance. The conversation closes with a discussion of innovation in America's health care system and why America is so unlike everywhere else.

america crisis healthcare economics abundance kling russ roberts econtalk arnold kling econlog econlib

Arnold Kling on the Economics of Health Care and the Crisis of Abundance

EconTalk Archives, 2007

Play Episode Listen Later Nov 5, 2007 58:53

Arnold Kling of EconLog talks with EconTalk host Russ Roberts about the economics of health care and his book, A Crisis of Abundance: Rethinking How We Pay for Health Care. Kling discusses whether we get what we pay for when we spend money on health care, why health care isn't like cars, and why health care insurance isn't really insurance. The conversation closes with a discussion of innovation in America's health care system and why America is so unlike everywhere else.

america crisis healthcare economics abundance kling russ roberts econtalk arnold kling econlog econlib

Caplan on the Myth of the Rational Voter