Podcasts about leontief prize

The Serbian-American economist Branko Milanovic is one of the world's leading authorities on inequality. In this KEEN ON America conversation, we talked about Milanovic's interpretation of the history of American economic inequality - from slavery to contemporary capitalism. Why has America become so much unequal over the last fifty years, I asked. And today, in what Milanovic sees as a post neo-liberal age, how does he imagine the future of economic inequality?Branko Milanovic obtained his Ph.D. in economics (1987) from the University of Belgrade with a dissertation on income inequality in Yugoslavia. He served as lead economist in the World Bank's Research Department for almost 20 years, leaving to write his book on global income inequality, Worlds Apart (2005). He was a senior associate at the Carnegie Endowment for International Peace in Washington (2003-2005) and has held teaching appointments at the University of Maryland (2007-2013) and at the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University (1997- 2007). He was a visiting scholar at All Souls College in Oxford, and Universidad Carlos III in Madrid (2010-11). Professor Milanovic's main area of work is income inequality, in individual countries and globally, including in preindustrial societies. He has published articles in Economic Journal, Review of Economics and Statistics, Journal of Economic Literature, Journal of Development Economics, and Journal of Political Philosophy, among others. His book The Haves and the Have-nots (2011) was selected by The Globalist as the 2011 Book of the Year. Global Inequality (2016) was awarded the Bruno Kreisky Prize for the best political book of 2016 and the Hans Matthöfer Prize in 2018, and was translated into 16 languages. It addresses economic and political effects of globalization and introduces the concept of successive “Kuznets waves” of inequality. In March 2018, Milanovic was awarded (jointly with Mariana Mazzucato) the 2018 Leontief Prize for Advancing the Frontiers of Economic Knowledge. His most recent books are Capitalism, Alone, published in 2019, and Visions of Inequality, published in 2023..Named as one of the "100 most connected men" by GQ magazine, Andrew Keen is amongst the world's best known broadcasters and commentators. In addition to presenting KEEN ON, he is the host of the long-running How To Fix Democracy show. He is also the author of four prescient books about digital technology: CULT OF THE AMATEUR, DIGITAL VERTIGO, THE INTERNET IS NOT THE ANSWER and HOW TO FIX THE FUTURE. Andrew lives in San Francisco, is married to Cassandra Knight, Google's VP of Litigation & Discovery, and has two grown children.Keen On is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit keenon.substack.com/subscribe

EPISODE 1823: In this KEEN ON show, Andrew talks to Branko Milanovic, author of VISIONS OF INEQUALITY, about how different economists have made sense of economic inequality over the last 250 yearsBRANKO MILANOVIC is a Senior Scholar at the Stone Center on Socio-Economic Inequality at the CUNY Graduate Center and the author of the forthcoming Visions of Inequality: From the French Revolution to the End of the Cold War. Branko's main area of work is income inequality, in individual countries and globally, including in pre-industrial societies. He has published articles in The Economic Journal, Review of Economics and Statistics, Journal of Economic Literature, Economic History Review, and Journal of Political Philosophy, among others. His book, The Haves and the Have-nots (2011) was selected by The Globalist as the 2011 Book of the Year. His book Global Inequality (2016), was awarded the Bruno Kreisky Prize for the best political book of 2016, and Hans Matthöfer Prize in 2018, and was translated into sixteen languages. It addresses economic and political effects of globalization and introduces the concept of successive “Kuznets waves” of inequality. In March 2018, Branko was awarded (jointly with Mariana Mazzucato) the 2018 Leontief Prize for Advancing the Frontiers of Economic Knowledge. His new book Capitalism, Alone was published in September 2019. He has contributed numerous op-eds and essays to Social Europe, VoxEU, The Guardian, Foreign Affairs, Foreign Policy, Vox, The Financial Times, Le Monde, El Pais, La Vanguardia, Le Monde Diplomatique and blogs ProMarket (U of Chicago), Global Policy (Durham University), Brave New Europe (Berlin). His blog posts are regularly translated into Spanish (Letras Libres), German (Makronom), Italian (Fata Turchina) and French (Atlanico).Named as one of the "100 most connected men" by GQ magazine, Andrew Keen is amongst the world's best known broadcasters and commentators. In addition to presenting KEEN ON, he is the host of the long-running How To Fix Democracy show. He is also the author of four prescient books about digital technology: CULT OF THE AMATEUR, DIGITAL VERTIGO, THE INTERNET IS NOT THE ANSWER and HOW TO FIX THE FUTURE. Andrew lives in San Francisco, is married to Cassandra Knight, Google's VP of Litigation & Discovery, and has two grown children.

Blog post with transcript: https://www.preposterousuniverse.com/podcast/2023/08/21/247-samuel-bowles-on-economics-cooperation-and-inequality/Economics, much like thermodynamics, is a story of collective behavior arising from the interactions of many individual constituents. The big difference is that in economics, the constituents are themselves complicated human beings with their own goals and limitations. We can still make progress by positing some simple but plausible axioms governing human behavior, and proving theorems about what those axioms imply, such as the famous supply-and-demand curves. The trick is picking the right axioms that actually do apply to any given situation. Samuel Bowles is a highly regarded economist who has helped understand the emergence of political hierarchy and economic inequality, often drawing on wide-ranging ideas from game theory and evolutionary biology. We talk about how people evolved to cooperate, and why nevertheless inequality seems to be ubiquitous.Support Mindscape on Patreon.Samuel Bowles received a Ph.D. in economics from Harvard University. He has taught at Harvard University, the University of Massachusetts at Amherst, and the University of Siena, and he is currently Director of the Behavioral Sciences Program at the Santa Fe Institute. He has been awarded a Guggenheim Fellowship and the Leontief Prize, and is a fellow of the American Academy of Arts and Sciences. He is one of the developers of the CORE Econ project.Web pageGoogle Scholar publicationsWikipediaAmazon author pageSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome to Valuable Conversations with the Institute for Innovation and Public Purpose. In this episode, MPA alumni Gwen Casazza and Justin Beirold talk to IIPP's fearless leader, Mariana Mazzucato. Like many people at IIPP, Gwen and Justin came to the institute in large part because of Mariana and her ideas. Mariana is one of the most influential economists in the world, and as a result, there are hundreds of podcasts, YouTube videos, interviews, and lectures featuring her. We decided that we would get into the weeds about the substance of her research, but we also wanted to learn more about her as a person. We talked about her childhood in an Italian family in New Jersey and being inspired by her High School history teacher. We discussed the trials and tribulations of the past decade, as she went from being a respected professor to running her own institute and becoming low-key famous (relative to most economists). She tells us about the critical importance of crafting new economic narratives in addition to new policy ideas. And of course, we covered some of the most exciting projects she is working on at the IIPP, including her work with Camden Council, the City of Barcelona, and the (all-women) WHO Council on Economics of Health For All. Guest Bio: Mariana Mazzucato is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP). She is winner of international prizes including the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the '3 most important thinkers about innovation' by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED. She advises policymakers around the world on innovation-led inclusive and sustainable growth. Her current roles include being Chair of the World Health Organization's Council on the Economics of Health for All and a member of the Scottish Government's Council of Economic Advisors, the South African President's Economic Advisory Council, the OECD Secretary General's Advisory Group on a New Growth Narrative, the UN High Level Advisory Board for Economic and Social Affairs, Argentina's Economic and Social Council, Vinnova's Advisory Panel in Sweden, and Norway's Research Council. Previously, through her role as Special Advisor for the EC Commissioner for Research, Science and Innovation (2017-2019), she authored the high-impact report on Mission-Oriented Research & Innovation in the European Union, turning “missions” into a crucial new instrument in the European Commission's Horizon innovation programme. We hope you enjoy this conversation! - Read Mariana's latest book - “Mission Economy: A Moonshot Guide to Changing Capitalism (Link) https://marianamazzucato.com/books/mission-economy - Learn more about the WHO Council on the Economics of Health for All (Link) https://www.who.int/groups/who-council-on-the-economics-of-health-for-all/members Follow Mariana on Twitter: @MazzucatoM Learn about our alumni hosts: - Justin Beirold (Link) https://www.ucl.ac.uk/bartlett/public-purpose/justin-beirold - Gwendolyn Casazza (Link) https://www.ucl.ac.uk/bartlett/public-purpose/gwendolyn-casazza Follow IIPP on Twitter: @IIPP_UCL https://twitter.com/IIPP_UCL https://www.ucl.ac.uk/bartlett/public-purpose/ Production and music by Justin Beirold

Find out more on our website: https://bit.ly/3NxiQKG Large companies have social and investment responsibilities. Choices made today could lock us into carbon intensive pathways, or lead the world to achieve net zero and put the brakes on climate change. Carbon Emission Accounts and Datasets (CEADs.net) are key to helping companies and governments plan towards global carbon neutrality. Apart from being an interesting set of accounts, they provide emission data for emerging economies, their regions and cities, plant level emission accounts for global infrastructures, and carbon footprints for Forbes 2000 companies. Speaker: Professor Dabo Guan is a Chair of Climate Change Economics at the University College London, UK. He is the Fellow of Academy of Social Sciences, UK. He specialises in environmental economics for international climate change mitigation, climate change adaptation, scenario analysis on environmental impacts, water resources accounting and management, input-output modelling and their applications in both developed and developing countries. He was a Lead Author for the IPCC AR5. He was the Highly Cited Researcher for 2018-2021, top thousand climate academics (rank 389 in 2020). He has authored over 260+ publications, including 60+ articles published Nature, Nature Research Journals, and PNAS. He received the PNAS Cozzarelli Prize 2014, the Leontief Prize 3 times and the Philip Leverhulme Prize. His paper about climate change impact on beer consumption received the 2018 Altimetric Top 100 award.

James K. Galbraith holds the Lloyd M. Bentsen Jr. Chair in Government/Business Relations at the Lyndon B. Johnson School of Public Affairs and a professorship in Government at The University of Texas at Austin. He was executive director of the Joint Economic Committee of the United States Congress in the early 1980s. He chaired the board of Economists for Peace and Security from 1996 to 2016 and directs the University of Texas Inequality Project. He is a managing editor of Structural Change and Economic Dynamics.From 1993 to 1997 Galbraith served as chief technical adviser for macroeconomic reform to the State Planning Commission of the People's Republic of China. In 2010, he was elected to the Accademia Nazionale dei Lincei. In 2014 he was co-winner of the Leontief Prize for Advancing the Frontiers of Economics. In 2020 he received the Veblen-Commons Award of the Association for Evolutionary Economics. He holds degrees from Harvard University (AB, magna cum laude), in economics from Yale University (M.A., M.Phil, Ph.D.), and academic honors from universities in Ecuador, France and the Russian Federation. He is a Marshall Scholar, a life member of the Council on Foreign Relations and the Texas Philosophical Society, and a member of the Free Economic Society, an organization of economists in Russia, chartered by Catherine the Great in 1765. CONTRIBUTE A note from Lev:I am a high school teacher of history and economics at a public high school in NYC, and began the podcast to help demystify economics for teachers.  The podcast is now within the top 2.5% of podcasts worldwide in terms of listeners (per Listen Notes) and individual episodes are frequently listed by The Syllabus (the-syllabus.com) as among the 10 best political economy podcasts of a particular week.  The podcast is reaching thousands of listeners each month.  The podcast seeks to provide a substantive alternative to mainstream economics media; to communicate information and ideas that contribute to equitable and peaceful solutions to political and economic issues; and to improve the teaching of high school and university political economy. I am looking to be able to raise money in order to improve the technical quality of the podcast and website and to further expand the audience through professionally designed social media outreach. I am also hoping to hire an editor. Our goal is to raise $12,000 this year. If you can donate a few dollars each month it will help us reach that goal. And if you know of a family foundation that might be interested in donating to A Correction please be in touch. Thank you! (And a huge thank you to all of the people who have already supported the podcast!)Best, Lev

Mariana Mazzucato (PhD) is Professor in the Economics of Innovation and Public Value at University College London (UCL),  where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP).She is winner of international prizes including the Grande Ufficiale Ordine al Merito della Repubblica Italiana in 2021, Italy's highest civilian honour, the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the '3 most important thinkers about innovation' by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED.  She is the author of three highly-acclaimed books: The Entrepreneurial State: Debunking Public vs. Private Sector Myths (2013), The Value of Everything: Making and Taking in the Global Economy (2018) and the newly released, Mission Economy: A Moonshot Guide to Changing Capitalism (2021).  She advises policymakers around the world on innovation-led inclusive and sustainable growth. Her current roles include being Chair of the World Health Organization's Economic Council on Health for All and a member of the South African President's Economic Advisory Council, the Scottish Government's Council of Economic Advisors, and the United Nations High-level Advisory Board (HLAB) on Economic and Social Affairs, among others. 

Mariana Mazzucato (PhD) is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP). She is winner of international prizes including the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the '3 most important thinkers about innovation' by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED. She is the author of three highly-acclaimed books: The Entrepreneurial State: Debunking Public vs. Private Sector Myths (2013), The Value of Everything: Making and Taking in the Global Economy (2018) and the newly released, Mission Economy: A Moonshot Guide to Changing Capitalism (2021). She advises policymakers around the world on innovation-led inclusive and sustainable growth. Her current roles include being Chair of the World Health Organization's Economic Council on Health for All and a member of the South African President's Economic Advisory Council, the Scottish Government's Council of Economic Advisors, and the United Nations High-level Advisory Board (HLAB) on Economic and Social Affairs, among others.—————————————————————— Registration for SALT New York is now open! Join us September 13-15, 2021 and sign up at https://register.salt.org/event/411f76d9-c215-4719-9bc4-8dfac6cfacdd/summaryFor podcast transcripts and show notes, visit https://www.salt.org/Watch this video on YouTube: https://youtu.be/iJk3-vdkpx4Moderated by Anthony Scaramucci. Developed, created and produced by SALT Venture Group, LLC. 

“This economist has a plan to fix capitalism. It's time we all listened.” – Wired https://marianamazzucato.com/about/ (Mariana Mazzucato) (PhD) is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the https://www.ucl.ac.uk/bartlett/public-purpose/ (UCL Institute for Innovation & Public Purpose (IIPP)). She received her BA from Tufts University and her MA and PhD in Economics from the Graduate Faculty of the New School for Social Research. Her previous posts include the RM Phillips Professorial Chair at the Science Policy Research Unit (SPRU) at Sussex University. She is a selected fellow of the UK's Academy of Social Sciences (FAcSS) and of the Italian National Science Academy (Lincei). She is winner of international prizes including the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the ‘3 most important thinkers about innovation' by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED. She is the author of three highly-acclaimed books: The Entrepreneurial State: Debunking Public vs. Private Sector Myths (2013), The Value of Everything: Making and Taking in the Global Economy (2018) and the newly released, Mission Economy: A Moonshot Guide to Changing Capitalism (2021). (bio taken from https://marianamazzucato.com/about (https://marianamazzucato.com/about)) Kara Swisher's March 15, 2021 podcast conversation with Mariana Mazzucato  on Sway: https://www.nytimes.com/2021/03/15/opinion/sway-kara-swisher-mariana-mazzucato.html (https://www.nytimes.com/2021/03/15/opinion/sway-kara-swisher-mariana-mazzucato.html) Goodreads: https://www.goodreads.com/book/show/52745048-mission-economy (https://www.goodreads.com/book/show/52745048-mission-economy) Audio production by Graham Stephenson Episode music: Caprese by https://www.sessions.blue/ (Blue Dot Sessions) Rate, review, and subscribe to this podcast on Apple, Anchor, Breaker, Google, Overcast, Pocket Casts, RadioPublic, and Spotify

“This economist has a plan to fix capitalism. It's time we all listened.” – Wired Mariana Mazzucato (PhD) is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP). She received her BA from Tufts University and her MA and PhD in Economics from the Graduate Faculty of the New School for Social Research. Her previous posts include the RM Phillips Professorial Chair at the Science Policy Research Unit (SPRU) at Sussex University. She is a selected fellow of the UK’s Academy of Social Sciences (FAcSS) and of the Italian National Science Academy (Lincei). She is winner of international prizes including the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the ‘3 most important thinkers about innovation’ by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED. She is the author of three highly-acclaimed books: The Entrepreneurial State: Debunking Public vs. Private Sector Myths (2013), The Value of Everything: Making and Taking in the Global Economy (2018) and the newly released, Mission Economy: A Moonshot Guide to Changing Capitalism (2021). (bio taken from https://marianamazzucato.com/about) Kara Swisher’s March 15, 2021 podcast conversation with Mariana Mazzucato on Sway: https://www.nytimes.com/2021/03/15/opinion/sway-kara-swisher-mariana-mazzucato.html Goodreads: https://www.goodreads.com/book/show/52745048-mission-economy Audio production by Graham Stephenson Episode music: Caprese by Blue Dot Sessions Rate, review, and subscribe to this podcast on Apple, Anchor, Breaker, Google, Overcast, Pocket Casts, RadioPublic, and Spotify

Mariana Mazzucato is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL  Institute for Innovation & Public Purpose (IIPP).  She advises policy makers around the world on innovation-led inclusive and sustainable growth. She is author of The Entrepreneurial State: debunking public vs. private sector myths (2013), The Value of Everything: making and taking in the global economy (2018) and Mission Economy: a moonshot guide to changing capitalism (2020).  She is winner of international prizes including the 2020 John Von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. Rana Foroohar is global business columnist and associate editor for the Financial Times, and CNN’s global economic analyst. Her first book, Makers and Takers, was shortlisted for the Financial Times and McKinsey Business Book of the Year in 2016. Her second, Don’t Be Evil: the Case against Big Tech, was published in 2019 and was a Sunday Times Business Book of the Year and Observer Book of the Week. 5x15 brings together outstanding individuals to tell of their lives and inspirations. Learn more about 5x15 events: 5x15stories.com Twitter: www.twitter.com/5x15stories Facebook: www.facebook.com/5x15stories Instagram: www.instagram.com/5x15stories

The reason I am seeking to keep Steady State Economics as a subject before you, as my audience, is that few other economic options subsume economics under the ecosystem. Rather other economic options subsume the ecosystem under the economy. In addition, most other economic options growth oriented economies and assume that the ecology can be saved while still growing the economy and this does not provide solution enough to address the stress every world economy is putting on our planet. If those monitoring the changes in our planet are correct, our time to make necessary and important changes is getting shorter. Awareness and implementation of a better economic option is vital! In every field of thought and research there are the visionaries, pioneers, and trailblazers. In Steady State Economics that visionary/pioneer/trailblazer is Herman Daly! Herman E. Daly is professor emeritus at the University of Maryland School of Public Policy. From 1988 to 1994 he was senior economist in the Environment Department of the World Bank. Prior to 1988 he was alumni professor of economics at Louisiana State University, where he taught economics for twenty years. He holds a BA from Rice University and a Ph.D. from Vanderbilt University. He has served as Ford Foundation Visiting Professor at the University of Ceará (Brazil), as a Research Associate at Yale University, as a Visiting Fellow at the Australian National University, and as a Senior Fulbright Lecturer in Brazil. He has served on the boards of directors of numerous environmental organizations, and was co-founder and associate editor of the journal Ecological Economics. His interest in economic development, population, resources, and environment has resulted in over a hundred articles in professional journals and anthologies, as well as numerous books, including Toward a Steady-State Economy (1973); Steady-State Economics (1977; 1991); Valuing the Earth(1993);  Beyond Growth (1996); Ecological Economics and the Ecology of Economics (1999); Ecological Economics: Theory and Applications (with J. Farley, 2003, 2011); Ecological Economics and Sustainable Development (2007); and From Uneconomic Growth to a Steady-State Economy (2014). He is co-author with theologian John B. Cobb, Jr. of For the Common Good (1989 ;1994) which received the 1991 Grawemeyer Award for Ideas for Improving World Order. In 1996 he received Sweden's Honorary Right Livelihood Award, and the Heineken Prize for Environmental Science awarded by the Royal Netherlands Academy of Arts and Sciences. In 1999 he was awarded the Sophie Prize (Norway) for contributions in the area of Environment and Development; in 2001 the Leontief Prize for contributions to economic thought, and in 2002 the Medal of the Presidency of the Italian Republic for his work in steady-state economics. In 2010 the National Council for Science and the Environment (USA) gave him its Lifetime Achievement Award. In 2014 he received the Blue Planet Prize awarded by the Asahi Glass Foundation of Japan.

My conversation with Juliet explores what is called the sharing economy. Uber, Lyft, and Airbnb have transformed the economy and reshaped what it means to work. We discuss her book After The Gig: How the Sharing Economy got Hijacked and How to Win it Back. It explores the impacts of these platforms on society. The discussion delves into topics like race, class, and the ways good intentions so often produce the wrong results. This is not necessarily an episode about politics. But my blog has long explored economics, sociology, and other disciplines to better understand different aspects of democracy. Platforms like Uber and Airbnb are not simply organizations. They have become institutions that change our relationships to work and each other. Juliet and I never explicitly discuss democracy, but I have long argued any change in institutions has repercussions on democracy. Juliet Schor is a New York Times-bestselling author. She is currently Professor of Sociology at Boston College. Before joining Boston College she taught in the Department of Economics at Harvard University. Schor is an internationally known scholar of labor, consumption, and environment. She is a former Guggenheim and Radcliffe Institute Fellow, recipient of the Leontief Prize in Economics, and the Public Understanding of Sociology Award from the American Sociology Association. She is the Chair of the Board of the Better Future Project.Thanks to Apes of the State for permission to use their tracks "The Internet Song" and "Plate Glass Apology. You can find their music on Spotify or their Bandcamp. Thanks to Brianne Kane who took the time to introduce me to Juliet.Please visit my blog at www.democracyparadox.com. I have written 70 reviews of both classic and contemporary works of political science with an emphasis on democracy. This week I reviewed Niccolò Machiavelli's Discourses on Livy. Please visit the website and read my book reviews. And don't forget to subscribe to keep up with future episodes.

Robert Frank is the H. J. Louis Professor of Management and Economics at Cornell University. His newest book “Under the Influence, Putting Peer Pressure to Work” discusses how social environments profoundly shape our behaviors and how we can unlock the power of social influence – through fascinating ideas from behavioral contagion to consumption taxation. 

 In this interview, Prof. Frank explains the core ideas of his book in detail: how individuals are constantly “under the influence” of others’ behaviors and thus do not always make the most rational decisions; how Adam Smith’s concept of “Invisible Hand” has been greatly misconstrued and overblown by free marketers; why we have a powerful and legitimate public policy interest in encouraging socially beneficial memes and discouraging socially harmful ones… We also discuss Prof. Frank’s progressive consumption tax proposal. It may sound surprising to many, but imposing higher tax rates for the rich might not hurt their purchase power because the prices for the scarce goods they pursue will come down correspondingly. However, by taxing lavish spending behaviors, we can discourage competitive biddings that do not improve society’s overall welfare. On the other hand, a progressive consumption tax would encourage saving and investment in ways that income taxes cannot, and a carbon tax will be effective in disincentivizing environmentally unfriendly activities. The deeper part of the conversation is towards the end, when Prof. Frank and Tiger talk about whether the field of economics needs a somewhat complete reworking – not to simply include more behavioral economists’ opinions, but even rethink the ways we teach about supply & demand and uproot fundamental theorems. It matters because economics is not an objective science, and it is built upon a set of assumptions that often do not hold true in reality when irrational agents come together. We talk about the “mis-valuing” of essential workers during Covid-19 to the glaring naïveté of free-marketeer Capitalism underpinned by UChicago-styled economists from the 80s… Robert H. Frank is the Henrietta Johnson Louis Professor of Management and Professor of Economics at Cornell's Johnson Graduate School of Management and a Distinguished Senior Fellow at Demos. For more than a decade, his "Economic View" column appeared monthly in The New York Times. His books have been translated into 23 languages, including ”Choosing the Right Pond,“ ”Passions Within Reason,“ ”Microeconomics and Behavior,“ ”Principles of Economics“ (with Ben Bernanke), ”Luxury Fever,“ ”What Price the Moral High Ground?,“ ”Falling Behind,“ ”The Economic Naturalist,“ ”The Darwin Economy,“ and ”Success and Luck.“ “The Winner-Take-All Society,” co-authored with Philip Cook, received a Critic's Choice Award, was named a Notable Book of the Year by The New York Times, and was included in Business Week's list of the ten best books of 1995. Frank is a co-recipient of the 2004 Leontief Prize for Advancing the Frontiers of Economic Thought.

Another wave of reflections for capitalism is now kindled by the Covid-19 crisis. Will the fiscal stimulus uplift the average Americans or end up exacerbating inequality? How is the crisis revealing fundamental fractures of the American and Western societies? The world as we have known it for the past decades has come to a stop, and the global socio-economic system might finally be shaken up as businesses remake their supply chains and governments re-envision their globalization goals... As people reflect on those important questions, we think it’s timely to re-introduce an earlier interview with Prof. Branko Milanovic on his book “Capitalism, Alone” and his insightful critique on the present and future of this political-economic system. “Capitalism, Alone: The Future of the System That Rules the World” provides a detailed recount of the path through which Capitalism came to dominate our world; an overview of the different capitalistic systems now govern the world; a range of problems such as inequality that Capitalism has engendered and struggled to respond to; and a deep reflection on the urgent socio-economic challenges our societies now face and how we may address them. As the public today grows ever more concerned with inequality, one of the most noteworthy ideas in the book is how liberal meritocratic capitalism is a system with inherent characteristics that “enhance inequality.” Drawing from Thomas Piketty and a wide range of literature and data, Prof. Milanovic provides a refreshing view on how we may rethink radical solutions for our dire problems. Branko Milanović is a visiting presidential professor at The Graduate Center, CUNY, and a senior scholar at the Stone Center on Socio-economic Inequality. He served as lead economist in the World Bank’s Research Department for almost 20 years, leaving to write his book on global income inequality, “Worlds Apart” (2005). His book “The Haves and the Have-nots” (2011) was selected by The Globalist as the 2011 Book of the Year. “Global Inequality” (2016) was awarded the Bruno Kreisky Prize for the best political book of 2016 and the Hans Matthöfer Prize in 2018, and was translated into 16 languages. It addresses economic and economic and political effects of globalization and introduces the concept of successive “Kuznets waves” of inequality. In March 2018, Milanovic was awarded (jointly with Mariana Mazzucato) the 2018 Leontief Prize for Advancing the Frontiers of Economic Knowledge.

Robert Frank, the Henrietta Johnson Louis Professor of Management and Professor of Economics at the Cornell Johnson Graduate School of Management, returns to Present Value to discuss his new book Under the Influence: Putting Peer Pressure to Work. The conversation explores the nature of social contagion and its numerous implications for how we approach public policy - most importantly our response to climate change. Professor Frank breaks down the mechanics of social contagion, what our regulatory approach has missed in the past, and how we can leverage knowledge of the tendency to mimic others to confront climate threats moving forward. For more than a decade, Professor Frank’s "Economic View" column appeared monthly in The New York Times. He received his BS in mathematics from Georgia Tech, and then taught math and science for two years as a Peace Corps Volunteer in rural Nepal. He holds an MA in statistics and a PhD in economics, both from the University of California at Berkeley. His papers have appeared in the American Economic Review, Econometrica, Journal of Political Economy, and other leading professional journals. His books have been translated into 23 languages, including Choosing the Right Pond, Passions Within Reason, Microeconomics and Behavior, Principles of Economics (with Ben Bernanke), Luxury Fever, What Price the Moral High Ground?, Falling Behind, The Economic Naturalist, The Darwin Economy, and Success and Luck. The Winner-Take-All Society, co-authored with Philip Cook, received a Critic's Choice Award, was named a Notable Book of the Year by The New York Times, and was included in Business Week's list of the ten best books of 1995. Frank is a co-recipient of the 2004 Leontief Prize for Advancing the Frontiers of Economic Thought. He was awarded the Johnson School's Stephen Russell Distinguished teaching award in 2004, 2010, and 2012, and its Apple Distinguished Teaching Award in 2005. Links from the Episode at presentvaluepodcast.com Book Link: Under the Influence: Putting Peer Pressure to Work (Amazon Link) Episode Article: Johnson Business Feed Profile: Robert H. Frank - Johnson  Twitter: @econnaturalist

James Kenneth Galbraith is the Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at Lyndon B. Johnson School of Business Affairs at The University of Texas at Austin. He directs the University of Texas Inequality Project and is a managing editor of Structural Change and Economic Dynamics. In 2014 he was co-winner, with Angus Deaton, of the Leontief Prize for Advancing the Frontiers of Economics. James has a PhD from Yale University. James Galbraith's books include "Welcome to the Poisoned Chalice: The Destruction of Greece and the Future of Europe" (2016). James is the son of the late John Kenneth Galbraith, renowned economist, public official and diplomat. In this episode we discuss James’ views on the teachings of mainstream economics today, his work on inequality, democracy, the financial crisis of 2008 and the impact it has had on Greece as well as, of course, his father John. Check out the links and books mentioned in this episode over at http://www.economicrockstar.com/jamesgalbraith Support the show for as little as $1 per month over at http://www.patreon.com/economicrockstar

José Antonio Ocampo (Banco de la República, Colombia & Columbia University) Inaugural SOAS Central Banking Lecture: Essential Reforms for a Sound 21st Century International Monetary System. The inaugural SOAS Central Banking Lecture will be delivered by Professor José Antonio Ocampo. The SOAS Central Banking Lectures have been established by the SOAS Department of Economics to provide a forum for distinguished scholars and practitioners to address topics of broad interest in the areas of central banking and international monetary and financial policy. The lecture will scrutinise the need for and the challenges of reforming the international monetary system. The 2007-09 global financial crisis, as the emerging market crises of the late twentieth century, show that the ad hoc international monetary system that evolved out of the crisis of the Bretton Woods arrangements in the early 1970s needs fundamental reforms. This lecture, based on José Antonio Ocampo’s recent book, Resetting the International Monetary (Non)System, will analyse the areas in need of fundamental reform: the global reserve system, macroeconomic policy cooperation, prevention and management of balance of payments crises, and governance of the system. Professor Ocampo’s lecture will be followed by comments by Stephany Griffith-Jones (Columbia University) and Ulrich Volz (SOAS). Spearker biography: José Antonio Ocampo is Member of the Board of Banco de la República, Colombia’s central bank, and Chair of the Committee for Development Policy of the United Nations Economic and Social Council (ECOSOC). He is also Professor (on leave) at the School of International and Public Affairs, co-President of the Initiative for Policy Dialogue and Member of the Committee on Global Thought at Columbia University. He has occupied numerous positions at the United Nations and his native Colombia, including UN Under-Secretary-General for Economic and Social Affairs, Executive Secretary of the UN Economic Commission for Latin America and the Caribbean (ECLAC), and Minister of Finance, Minister of Agriculture and Director of the National Planning Office of Colombia. He has received numerous academic distinctions, including the 2012 Jaume Vicens Vives award of the Spanish Association of Economic History for the best book on Spanish or Latin American economic history, the 2008 Leontief Prize for Advancing the Frontiers of Economic Thought and the 1988 Alejandro Angel Escobar National Science Award of Colombia. He has published extensively on macroeconomic theory and policy, international financial issues, economic and social development, international trade, and Colombian and Latin American economic history. Speakers: José Antonio Ocampo (Banco de la República, Colombia & Columbia University), Stephany Griffith-Jones (Columbia University) and Ulrich Volz (SOAS). Released by: SOAS Economics Podcasts

Professor Mariana Mazzucato (PhD) holds the Chair in the Economics of Innovation and Public Value at University College London (UCL), and is Founder and Director of the UCL Institute for Innovation & Public Purpose (IIPP). She is winner of the 2014 New Statesman SPERI Prize in Political Economy, the 2015 Hans-Matthöfer-Preis, and the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the ‘3 most important thinkers about innovation‘ by the New Republic. She advises policy makers around the world on innovation-led inclusive growth and is currently a member of the Scottish Government’s Council of Economic Advisors; the UN Sustainable Development Solutions Network Leadership Council; and SITRA’s Advisory Panel in Finland. She is currently a Special Advisor for the EC Commissioner for Research, Science and Innovation, Carlos Moedas, and has recently authored a high impact EC report Mission-Oriented Research & Innovation in the European Union. She is also a Special Advisor to the Secretary General of the OECD, Angel Gurría, for the OECD’s New Growth Narrative. Her highly-acclaimed book The Entrepreneurial State: debunking public vs. private sector myths was on the 2013 Books of the Year list of the Financial Times. She is co-editor of Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth. Her new book The Value of Everything: Making and Taking in the Global Economy is published by Penguin. Recorded at The Tabernacle in London in May 2018. 5x15 brings together five outstanding individuals to tell of their lives, passions and inspirations. There are only two rules - no scripts and only 15 minutes each. Learn more about 5x15 events: http://5x15stories.com Twitter: http://www.twitter.com/5x15stories Facebook: https://www.facebook.com/5x15stories Instagram: https://www.instagram.com/5x15stories

Prof. Robert H. Wade (LSE). Why did western development organizations (e.g. World Bank, USAID, DfID) turn away from "production policy" and "production investments" and embrace "eliminate extreme poverty" as their mandate? A study of western states' ability to set the agenda of "international development", and the recent response of developing country governments. Western states have shown a remarkable ability to coordinate among themselves to protect their leading role in international organizations against attempts by governments of some “emerging market economies and developing countries” (EMDCs) to wield more power to shape the prescriptions of these organizations . This talk illustrates how western states have succeeded in (1) marginalizing organizations where they do not always control the agenda (such as the UN General Assembly and its High-Level Commissions, e.g. the Stiglitz Commission on the Global Financial Crisis of 2009, and the United Nations Conference on Trade and Development, UNCTAD, established as a think tank for articulating views from developing countries), and (2) keeping control of the post-war legacy organizations (notably the World Bank and IMF). The talk then explains why, in the wake of the end of the Cold War, the West changed the development agenda away from economic growth, infrastructure investment and building capitalist institutions, and embraced “extreme poverty reduction” as the goal of development assistance. From then on, “industrial policy” became a forbidden phrase, and even WB chief economist Justin Yifu Lin (2008-2012) and his “new structural economics” were marginalized. Rising tensions with the preferences of developing country governments have produced a recent surge of “by-pass” organizations, such as the New Development Bank. Robert H. Wade is professor of political economy at the other LSE. Educated in New Zealand, he has taught at Sussex University, Princeton, MIT, and Brown. He worked as a staff economist in the World Bank in the 1980s. His book Governing the Market: Economic Theory and the Role of Government in East Asia’s Industrialization (Princeton, 1990, 2004) won the American Political Science Association award for Best Book or Article in Political Economy. He won the Leontief Prize for Advancing the Frontiers of Economic Thought in 2008. Speaker(s): Robert Wade (LSE) Event Date: 31 March 2015 Released by: SOAS Economics Podcast