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Paul Romer, Nobel Laureate, discusses the coronavirus pandemic with host Russ Roberts. He argues that the status quo of shutdown and fear of infection is unsustainable. Returning to normal requires an inexpensive, quick, and relatively painless test. The challenge is in relaxing certain regulations and then creating a supply chain of production and availability. Romer then explains how such a test could ease a return to something like normalcy for many sectors of the economy. The conversation concludes with a discussion of the dynamics of the labor market in the current situation.

Updated on May 28

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In this episode, Dr. Jessica Mason, Dr. Melvis Herbert, and, well, just Dave, cut through the Corona craziness and bring you the latest in COVID-19 news, medical science, and cocktail recipes. Wash your hands, grab your headphones, and enjoy.

Updated on March 23

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Updated on March 08

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Nassim Nicholas Taleb, author of Skin in the Game, talks with host Russ Roberts about the ideas in the book. This is the third episode of EconTalk with Taleb related to the general topic of skin in the game and how it affects decision-making and policy in an uncertain world. This episode focuses on rationality, religion, and the challenge of thinking about probability and risk correctly in a dynamic world.

Updated on March 25

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Russ Roberts, host of EconTalk, does a monologue this week on the economics of trade and specialization. Economists have focused on David Ricardo's idea of comparative advantage as the source of specialization and wealth creation from trade. Drawing on Adam Smith and the work of James Buchanan, Yong Yoon, and Paul Romer, Roberts argues that we've neglected the role of the size of the market in creating incentives for specialization and wealth creation via trade. Simply put, the more people we trade with, the greater the opportunity to specialize and innovate, even when people are identical. The Ricardian insight masks the power of market size in driving innovation and the transformation of our standard of living over the last few centuries in the developed world.

Updated on April 01

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Russ Roberts talks with Milton Friedman about his research and views on inflation, the Federal Reserve, Alan Greenspan and Ben Bernanke, and what the future holds.

Updated on June 20

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Updated on March 01

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Air Pollution: An Unclear and Present Danger

Updated on February 06

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Updated on April 25

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