Chapter
Economics as a Solution for Social Problems
06:59 - 12:52 (05:52)
The Chicago School economists in the 80s believed that social problems could be solved through economic principles, which has become one of the dominant paradigms for American problem-solving despite its fallacies.
Clips
The concept of solving social problems with economics principles gained popularity in the 80s and 90s with Chicago school economists and was later popularized through books like Free Economics.
06:59 - 09:37 (02:38)
Summary
The concept of solving social problems with economics principles gained popularity in the 80s and 90s with Chicago school economists and was later popularized through books like Free Economics.
ChapterEconomics as a Solution for Social Problems
EpisodeBonus: Mike's New Podcast!
PodcastMaintenance Phase
Paul Romer, a Nobel laureate in Economics, has sparked controversy with his comments on inequality, stating that some people are simply not up to the task of being productive workers and that bad ideas are preventing certain groups of people from succeeding.
09:37 - 11:36 (01:58)
Summary
Paul Romer, a Nobel laureate in Economics, has sparked controversy with his comments on inequality, stating that some people are simply not up to the task of being productive workers and that bad ideas are preventing certain groups of people from succeeding.
ChapterEconomics as a Solution for Social Problems
EpisodeBonus: Mike's New Podcast!
PodcastMaintenance Phase
Economist Steven Levitt's groundbreaking work in proving that additional police officers bring down violent crime is explored, as well as his ingenuity in using political factors to measure the police effectiveness.
11:36 - 12:52 (01:15)
Summary
Economist Steven Levitt's groundbreaking work in proving that additional police officers bring down violent crime is explored, as well as his ingenuity in using political factors to measure the police effectiveness.