Shows
EconRootsNobel laureate Eric Maskin on mechanism design, Arrow and the worldToday marks a milestone in the history of EconRoots as a podcast. While we have already been blessed with guest appearances from some of the best economists in the field, today we have our first nobel laureate the esteemed Eric Stark Maskin. While we will deal with Maskin important contributions in a later ordinary episode, we are very thankful to Maskin and Copenhagen Business School for awarding us time together doing his spring 2023 visit.Maskin is is an American economist and mathematician. He was jointly awarded the 2007 Nobel Memorial Prize in Economic Sciences with Leonid Hurwicz and Roger Myerso...2023-08-1731 min
EconRootsRationality of Rational ChoiceEconomics model human behavior within the construct of rationality, but what is rational behavior? In this episode we meet Herbert Simon who shows that instrumental rationality is likely not as smart as bounded rationality, at least from a modeling point of view. He also shows that organizations matter for what is to be considered rational behavior. From here we move to Gary Becker the great proponent of the use of rational choice to almost all areas of the human experience, including the family and crime. We end wth Mirless who shows us that lack of information can lead to...2023-07-3049 min
The ProgressiveBecchio on gender and feminist economics Podcast: EconRootsEpisode: Becchio on gender and feminist economicsPub date: 2023-07-16Get Podcast Transcript →powered by Listen411 - fast audio-to-text and summarizationGender issues in society and particularly feminist economics have gotten a lot of attention in recent times, but what exactly is it? Why is it needed and what is the relation to classical economic theory? Today we are joined by Professor Giandomenica Becchio who is the world leading expert in the history of these ideas. We also talk about how and why certain interesting contributors to ec...2023-07-2543 min
EconRootsBecchio on gender and feminist economicsGender issues in society and particularly feminist economics have gotten a lot of attention in recent times, but what exactly is it? Why is it needed and what is the relation to classical economic theory? Today we are joined by Professor Giandomenica Becchio who is the world leading expert in the history of these ideas. We also talk about how and why certain interesting contributors to economic theory became forgotten, mainly due to race, gender and ideology. In season 1 (Danish) we reviewed the history of economic thought before WWII. The coming seasons are dedicated to the Nobel...2023-07-1643 min
EconRootsGeneral and Partial EquilibriumShow notes:Today we tackle a key concept in economics, the idea of market equilibrium, both general and partial. A part of this talk also involves the role of information and that of regulation. We start with polymath Kenneth Joseph Arrow, a key figure in many economic insights. From him we move to a key Chicago school figure and funnyman, George Joseph Stigler. Finally, we star the French economist Gérard Debreu. In season 1 (Danish) we reviewed the history of economic thought before WWII. The coming seasons are dedicated to the Nobel Prize in Economics, an...2023-07-0954 min
EconRootsDekker on TinbergenToday’s episode was recorded in October 2022 at the Market and Society conference. Our honoured guest is Dr. Erwin Dekker. Dr. Dekker is a historian and economist working at the the intersection of culture and economics. He has worked for almost a decade in the department of cultural economics at Erasmus University Rotterdam and Is currently Senior Research Fellow at the Mercatus Center at George Mason University. Dr. Dekker recently put out an impressive biography on Noble Laurette Jan Tinbergen. We highly recommend you pick that up, and today’s talk will give you a good idea why.In...2023-01-0236 min
EconRootsSearch friction: The labour market, unemployment and the macro-economyA large part of the economy is the labor market. Not only is it, along with capital, the standard input in simple production functions, it is also a whole beast of it’s own. Just like capital is not just capital, likewise labor is also heterogenous and have unique and important issues relating to matching jobs with skills and people and time; this is what economist call search frictions. In today’s episode we discuss the 2010 prize awarded to Peter A. Diamond, Dale T. Mortensen and Christopher A. Pissarides "for their analysis of markets with search frictions". We might also...2022-12-3040 min
EconRootsLiving Austrian with Professor BoettkeToday’s episode was recorded in October 2022 at the Market and Society conference. Our honored guest is a premier Austrian school economist Professor Peter Boettke. He is widely published and has been instrumental in promoting modern Austrian economics across campuses in the US and globally. He is currently a professor of economics and philosophy at George Mason University; the BB&T Professor for the Study of Capitalism, vice president for research, and director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center also at GMU. Professor Boettke is not only a very in...2022-12-261h 19
EconRootsThe Rise of EconometricsAs economics grew into its own as a scientific discipline, two questions became pressing. 1) How to deal with empirical data, particular separating cause and effect, 2) how to give good and predictive policy advice. A large part of the answer came in the form of econometrics. A distinct form of applied science mixing economic theory with statistics and math. In today’s episode we talk about three laurates that spearheaded econometrics Ragnar Anton Kittil Frisch who invented the term and has another prize named after him. Jan Tinbergen who’s work in dynamic models, statistical identification and macro-economic modeling earned him a...2022-12-2347 min
EconRootsThe Empirical Institutions of GrowthWhy do some countries experience growth, while others don’t? The answer is that countries are not ordered in the same way, or as an economist would say; their institutional arrangements differ, and that leads to different outcomes. This in not just a theoretical point, it is in fact highly empirically observable. In today’s episode we will meet three laurates that made just such observations; Simon Smith Kuznets who are not just famous for two curves, but also for spearheading the creation of essential empirical data, such a national income accounts. Theodore Schultz, an agricultural economist who showed why hum...2022-07-131h 04
EconRootsEconRoots Talk – Mike Munger: The legacy of Laureate Douglas North and the importance of institutionsWelcome to EconRoots. A podcast on the history of Economic Thought brought to you by CEPOS and your host Stefan Sløk-Madsen. As a bonus to our regular seasons we aim to bring you exciting interviews with relevant and stimulating economists and scholars within or related to the field of economics. We call these, EconRoots talk. In today’s talk recorded at the APEE conference 2022 in Las Vegas, we are honored to be joined by Michael C. Munger, Professor of Political Science, and Director of the PPE Certificate Program at Duke University. Professor Munger has made tremendous rese...2022-06-2941 min
EconRootsGrowth, crowding, and carbon taxThe economist Tyler Cowen has argued that growth should be a stubborn attachment for economists. In today’s episode you will get an idea of why. We start with Solow who’s exogenous growth model is highly famous. From him we learn the power of ideas and how they spread to create growth and property from Romer, and finally the inventor of the carbon tax Nordhaus. This is an exciting episode indeed, and full of great reasons why growth matters, we also talk about the coolest wedding an economist can imagine, chartered cities and why light is more important than...2022-06-1659 min
EconRootsEconRoots Talk - Siri Terjesen: Business education benefits from classical economics – and what about gender diversity in boards?Welcome to EconRoots. A podcast on the history of Economic Thought brought to you by CEPOS and your host Stefan Sløk-Madsen. As a bonus to our regular seasons we aim to bring you exciting interviews with relevant and stimulating economists and scholars within or related to the field of economics. We call these, Econ Roots talk. In today’s talk recorded at the APEE conference 2022 in Las Vegas, we are honored to be joined by Dr. Siri A. Terjesen who is Associate Dean and Phil Smith Professor of Entrepreneurship at Florida Atlantic University, and Professor at the N...2022-06-0336 min
EconRootsTrade theoryTrade is like the air, if it wasn’t there, we would die. But most don’t think much about it. Well, thank the good creator we have economists, because some of those do think about it. In this episode we explain trade theory by recapping the old greats Adam Smith and David Ricardo. Before moving into the joint recipient in 1977, Bertil Gotthard Ohlin and James Meade. From here we talk about Paul Robin Krugman, today more generally known for punditry, his contribution to new trade theory and economic geometry was well deserved of his 2008 prize. Particularly Meade and and K...2022-04-2049 min
EconRootsModern Macro PerspectivesWe finish our macro theme for now, with some interesting modern perspectives. Both some important discussion about the need for, and the purpose of, economic modeling; Thomas John Sargant and Christopher A. Sims will take us there. They got the prize jointly in 2011, and disagree on some important points. We start with Robert Mundell – cheeky called the father of the Euro - who got the prize in 1999, whose ideas might be scaringly more relevant these days.In season 1 (Danish) we reviewed the history of economic thought before WWII. The coming seasons are dedicated to the Nobel Prize in...2022-04-0648 min
EconRootsModern Macro Part 2This is the second of a two-part episode on modern macro-economics. In today’s episode we talk about Finn Erling Kydland – a Norwegian - and Edward Christian Prescott who got the prize for their joint work on the relation between peoples rational expectations and policy consistency – or rather lack thereof. We continue and end macro (for now) with Edmund Strother Phelps who’s keen eye for entrepreneurship and uncertainty drive his macro theory – even if he is often time pro intervention. In season 1 (Danish) we reviewed the history of economic thought before WWII. The coming seasons are de...2022-02-2347 min
EconRootsModern Macro Part 1This is the first of a two-part episode on modern macro-economics. In today’s episode we talk about a distinguished and well rounded British economist Sir John Hicks who got the prize in 1972. We continue with James Tobin who actually got the prize for finance theory, more specifically portfolio selection theory – but he will be mentioned because his many ideas were highly influential on macro, particularly as he was skeptical of rational expectations. We also cover Robert Emerson Lucas Jr. who’s work on rational expectations are very important to the field. In season 1 (Danish) we reviewed the his...2022-02-0938 min
EconRootsEconRoots Talk - McCloskey: We should aim to be worldly philosophersWelcome to Econ Root. A podcast on the history of Economic Thought brought to you by CEPOS and your host Stefan Sløk-Madsen. As a bonus to our regular seasons we aim to bring you exciting interviews with relevant and stimulating economists and scholars within or related to the field of economics. We call these, Econ Roots talk. In today’s talk we are honored to be joined by Professor Deirdre McCloskey. She is a world leading scholar in economic history and economic method. She is the recipient of numerous awards and titles and is popula...2022-02-0233 min
EconRootsThe Advent of Modern MacroIn season 1 (Danish) we reviewed the history of economic thought before WWII. The coming seasons are dedicated to the Nobel Price in Economics, and I am joined by economist Otto Brøns-Petersen. The Nobel price is a good benchmark for how the field and profession of economics developed after WWII. We will focus both on the scientific contributions and on the people behind them. These are all star economists and worthy of your time and attention. Some will mainly feature in one episode, others in several. We therefore advice that you listen in the thematic order we propose – but it...2022-01-261h 09
EconRootsIntroducing the Nobel PrizeIn season 1 (Danish) we reviewed the history of economic thought before WWII. The coming seasons are dedicated to the Nobel Prize in Economics, and I am joined by economist Otto Brøns-Petersen. The Nobel Prize is a good benchmark for how the field and profession of economics developed after WWII. We will focus both on the scientific contributions and on the people behind them. These are all star economists and worthy of your time and attention. Some will mainly feature in one episode, others in several. We therefore advice that you listen in the thematic order we propose – but it is up to you...2021-12-1543 min
EconRootsBONUS: Kan økonomiens teorihistorie lære os noget om corona?Første sæson er slut med dette afsnit. Vi afslutter med et tematisk tilbageblik på sæsonen og ser om nogle af de mange store tænkere vi har stødt på, måske kan gøre os klogere på pandemier og deres håndtering.Har du nogensinde tænkt over, hvad økonomi er for en videnskab? Hvordan opstod den, og hvem var dens grundlæggere?Eller har du interesseret dig for moderne diskussioner om samfundet, herunder ulighed, ressourceforbrug eller konkurrence? Hvis dette er tilfældet, er økonomiens teorihistorie vigtig og nyttig for dig. Den type af disk...2020-07-1355 min
EconRootsTema: Chicagoskolen og monetarismenI dag er vi kommet til en af de vigtigste intellektuelle skoler både inden og uden for økonomi i det 20. århundrede: Chicago-skolen. På dansk tit kaldet monetaristerne. Jeg skriver skoler i flertal, fordi mange lider af den misforståelse, at der er tale om en fælles skole, der deler metode, interesse og mål. Det er ikke rigtigt, der er minimum tre, nok fire, og muligvis flere Chicago-skoler alt efter, hvor fint man deler kagen. Der er markante forskelle i særligt deres fokus og metode valg, og det er noget af det, som vi skal tale om i dag...2020-06-0845 min
EconRootsDe store udviklinger efter KeynesDe fleste gennemgange af økonomiens teorihistorie slutter med Keynes’ død. Det gør vores også. Næsten. Vi tager også et temaafsnit om Chicago-økonomerne. Inden vi kommer så langt, vil jeg i dagens afsnit lave et lille eksperiment. Jeg vil komme med et meget kort overslag over nogle af de vigtige teoretiske udviklinger indenfor økonomi fra 1946 og frem til nu. Det er et eksperiment, fordi jeg udelukkende bruger min egen hukommelse med en forudsætning om, at jeg må have huske noget af det væsentligste. Der er sikkert meget, der er glemt, men i hvert fald kommer vi igen...2020-06-0139 min
EconRootsØdelagte vinduer og paratooptimalitetI dagens afsnit skal vi samle lidt op på en række tænkere og tanker fra det 19. århundrede, som vi ikke har nået at tale om, men som er vigtige. Vi skal tale om Say, hans lov og hans opdagelse af vigtigheden af entreprenørskab. Vi skal tale om Bastiat og hans vigtige advarsel mod politikfejl og særinteresser. Vi skal tale om Parato og udfordringen ved at lave indgreb i samfundet, der ikke skader nogen, og endelig skal vi lige tale lidt mere om Mises, inden vi afslutter med fødslen af virksomhedsøkonomi som en afskilt d...2020-05-2544 min
EconRootsKeynes’ kampHar du nogensinde tænkt over, hvad økonomi er for en videnskab? Hvordan opstod den, og hvem var dens grundlæggere?Eller har du interesseret dig for moderne diskussioner om samfundet, herunder ulighed, ressourceforbrug eller konkurrence? Hvis dette er tilfældet, er økonomiens teorihistorie vigtig og nyttig for dig. Den type af diskussioner er nemlig mindst lige så gammel som den økonomiske videnskab selv, og du vil i dens rødder også finde rødderne til de moderne argumenter.I dagens afsnit skal vi tale om en baron. En baron der af mange anses som det 20. år...2020-05-1849 min
EconRootsIndivider, institutioner og innovationerHar du nogensinde tænkt over, hvad økonomi er for en videnskab?Hvordan opstod den, og hvem var dens grundlæggere?Eller har du interesseret dig for moderne diskussioner om samfundet, herunder ulighed, ressourceforbrug eller konkurrence? Hvis dette er tilfældet, er økonomiens teorihistorie vigtig og nyttig for dig. Den type af diskussioner er nemlig mindst lige så gammel som den økonomiske videnskab selv, og du vil i dens rødder også finde rødderne til de moderne argumenter.I dagens afsnit dykker vi ned i tre vigtige figurer for moderne økonomiske skoler.Vi sta...2020-05-1148 min
EconRootsDen marginale revolutionHar du nogensinde tænkt over, hvad økonomi er for en videnskab? Hvordan opstod den, og hvem var dens grundlæggere?Eller har du interesseret dig for moderne diskussioner om samfundet, herunder ulighed, ressourceforbrug eller konkurrence? Hvis dette er tilfældet, er økonomiens teorihistorie vigtig og nyttig for dig. Den type af diskussioner er nemlig mindst lige så gammel som den økonomiske videnskab selv, og du vil i dens rødder også finde rødderne til de moderne argumenter. I dagens afsnit starter jeg med en lille omvej. I den fortæller jeg lidt om, hva...2020-05-0428 min
EconRootsMarx bidrag til økonomisk teoriHar du nogensinde tænkt over, hvad økonomi er for en videnskab?Hvordan opstod den, og hvem var dens grundlæggere?Eller har du interesseret dig for moderne diskussioner om samfundet, herunder ulighed, ressourceforbrug eller konkurrence? Hvis dette er tilfældet, er økonomiens teorihistorie vigtig og nyttig for dig. Den type af diskussioner er nemlig mindst lige så gammel som den økonomiske videnskab selv, og du vil i dens rødder også finde rødderne til de moderne argumenter.Nu er vi kommet til en markant herre. Karl Marx grundlæggeren af kommunisme. I dagens af...2020-04-271h 02
EconRootsDen moderne idekamp og klassikerneHar du nogensinde tænkt over, hvad økonomi er for en videnskab?Hvordan opstod den, og hvem var dens grundlæggere?Eller har du interesseret dig for moderne diskussioner om samfundet, herunder ulighed, ressourceforbrug eller konkurrence? Hvis dette er tilfældet, er økonomiens teorihistorie vigtig og nyttig for dig. Den type af diskussioner er nemlig mindst lige så gammel som den økonomiske videnskab selv, og du vil i dens rødder også finde rødderne til de moderne argumenter. Meget moderne debat handler om grundlæggende holdninger til kapitalismen. En fløj hylder væks...2020-04-2039 min
EconRootsAdam Smith – Moralfilosoffen der fødte økonomisk videnskabHar du nogensinde tænkt over, hvad økonomi er for en videnskab? Hvordan opstod den, og hvem var dens grundlæggere?Eller har du interesseret dig for moderne diskussioner om samfundet, herunder ulighed, ressourceforbrug eller konkurrence? Hvis dette er tilfældet, er økonomiens teorihistorie vigtig og nyttig for dig. Den type af diskussioner er nemlig mindst lige så gammel som den økonomiske videnskab selv, og du vil i dens rødder også finde rødderne til de moderne argumenter.I sæsonens tredje afsnit møder vi Adam Smith. Han ses af mange som skaberen bag moderne øko...2020-04-1352 min
EconRootsEuropæisk tænkning og de første økonomerHar du nogensinde tænkt over, hvad økonomi er for en videnskab? Hvordan opstod den, og hvem var dens grundlæggere?Eller har du interesseret dig for moderne diskussioner om samfundet, herunder ulighed, ressourceforbrug eller konkurrence? Hvis dette er tilfældet, er økonomiens teorihistorie vigtig og nyttig for dig. Den type af diskussioner er nemlig mindst lige så gammel som den økonomiske videnskab selv, og du vil i dens rødder også finde rødderne til de moderne argumenter.I sæsonens andet afsnit gennemgår jeg de to grundlæggende europæiske traditioner som har formet den in...2020-04-0857 min
EconRootsHvorfor er økonomiens teorihistorie spændende for dig?Har du nogensinde tænkt over, hvad økonomi er for en videnskab?Hvordan opstod den, og hvem var dens grundlæggere?Eller har du interesseret dig for moderne diskussioner om samfundet, herunder ulighed, ressourceforbrug eller konkurrence? Hvis dette er tilfældet, er økonomiens teorihistorie vigtig og nyttig for dig. Den type af diskussioner er nemlig mindst lige så gammel som den økonomiske videnskab selv, og du vil i dens rødder også finde rødderne til de moderne argumenter.Til dagens afsnit har jeg læst:Boettke, P. J. (2012). Living Economics. Oakland: Indepe...2020-04-0637 min
EconRootsVelkommen til EconRootsI denne trailer får du en introduktion til første sæson af EconRoots. En sæson dedikeret til at gennemgå økonomiens teorihistorie og hjælper til at forstå hvor vigtige moderne samfundsdebatter om ulighed, vækst og velfærd har deres rødder.2020-03-2702 min