The latest EconTalk features John Papola talking with me about the economics in Fight of the Century.
Papola talks economics
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That was a great ending. I like the comment Papola made about how market exchanges are a “human process.” I think for a lot of people (including myself sometimes), markets just feel like cold and heartless arenas, but it really is the opposite.
It reminds me of that Mises quote…
“Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of man’s human existence.”
Studying economics is/has been a humbling experience..
Thomas Sowell is impressive at making that point, in his books. Economic answers to slavery and it’s eventual demise, the Demise of imperialism, etc.,… Dr. Sowell writes about these in his books.
He paid a lot less for his education on economics and has a better grasp on it than I do. Good podcast.
Podcast value = (1/MKS)*(intercept term of You Tube access time trend);
where MKS is the marginal knowledge of Say where MKS is a fraction that approaches one as one’s Say knowledge endowment rises.
I enjoyed John’s story about how he started reading everything he could get his hands on about economics amidst the real estate bubble and subsequent financial crisis. He is not alone.
In my family, I am the one with the economics degree, but it was my brother the engineer who started lending me books by Hayek and Rothbard back in 07 and 08. He had caught the bug and passed it along to me. I’m sure there are other stories like that out there.
There appears to be a problem with the podcast. Listeners cannot stop/pause once the file is opened, as they can with other podcasts.