EconTalk
1,260 episodes - English - Latest episode: about 1 month ago - ★★★★★ - 4K ratingsEconTalk: Conversations for the Curious is an award-winning weekly podcast hosted by Russ Roberts of Shalem College in Jerusalem and Stanford's Hoover Institution. The eclectic guest list includes authors, doctors, psychologists, historians, philosophers, economists, and more. Learn how the health care system really works, the serenity that comes from humility, the challenge of interpreting data, how potato chips are made, what it's like to run an upscale Manhattan restaurant, what caused the 2008 financial crisis, the nature of consciousness, and more. EconTalk has been taking the Monday out of Mondays since 2006. All 900+ episodes are available in the archive. Go to EconTalk.org for transcripts, related resources, and comments.
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Episodes
Frank on Competition, Government, and Darwin
September 12, 2011 06:30 - 1 hour - 29.1 MBRobert Frank of Cornell University and author of The Darwin Economy talks with EconTalk host Russ Roberts about competition, government and the relevance of Darwin for economics. In a lively and spirited discussion, Frank argues that because people care about their relative standing with their neighbors, standard conclusions about the virtues of competition are misleading. He argues that competition is often wasteful and he suggests directions for tax policy and other forms of government int...
Robert Frank on Competition, Government, and Darwin
September 12, 2011 06:30 - 1 hour - 29.1 MBRobert Frank of Cornell University and author of The Darwin Economy talks with EconTalk host Russ Roberts about competition, government and the relevance of Darwin for economics. In a lively and spirited discussion, Frank argues that because people care about their relative standing with their neighbors, standard conclusions about the virtues of competition are misleading. He argues that competition is often wasteful and he suggests directions for tax policy and other forms of government int...
Clifford Winston on Lawyers
September 05, 2011 06:30 - 1 hour - 28.4 MBClifford Winston of the Brookings Institution talks with EconTalk host Russ Roberts about the market for lawyers and the role of lawyers in the political process. Drawing on a new co-authored book, First Thing We Do, Let's Deregulate All the Lawyers, Winston argues that restrictions on the supply of lawyers and increases in demand via government regulation artificially boost lawyers' salaries. Deregulation of the supply (by eliminating licensing) would lower price and encourage innovation.
Winston on Lawyers
September 05, 2011 06:30 - 1 hour - 28.4 MBClifford Winston of the Brookings Institution talks with EconTalk host Russ Roberts about the market for lawyers and the role of lawyers in the political process. Drawing on a new co-authored book, First Thing We Do, Let's Deregulate All the Lawyers, Winston argues that restrictions on the supply of lawyers and increases in demand via government regulation artificially boost lawyers' salaries. Deregulation of the supply (by eliminating licensing) would lower price and encourage innovation.
Eric Hanushek on Teachers
August 29, 2011 06:30 - 59 minutes - 27.2 MBEric Hanushek of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the importance of teacher quality in education. Hanushek argues that the standard measures of quality--experience and advanced degrees--are uncorrelated with student performance. But some teachers consistently cover dramatically more material and teach more than others, even within a school. Hanushek presents evidence that the impact of these differences on lifetime earnings for students can...
Hanushek on Teachers
August 29, 2011 06:30 - 59 minutes - 27.2 MBEric Hanushek of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the importance of teacher quality in education. Hanushek argues that the standard measures of quality--experience and advanced degrees--are uncorrelated with student performance. But some teachers consistently cover dramatically more material and teach more than others, even within a school. Hanushek presents evidence that the impact of these differences on lifetime earnings for students can...
Brendan O'Donohoe on Potato Chips and Salty Snacks
August 22, 2011 06:30 - 1 hour - 41.2 MBBrendan O'Donohoe of Frito-Lay talks with EconTalk host Russ Roberts about how potato chips and other salty snacks get made, distributed, and marketed. The interview follows an hour-long tour of a local supermarket where O'Donohoe showed Roberts some of the ways that chips and snacks get displayed and marketed in a modern supermarket. The conversation is a window into a world that few of us experience or are even aware of--how modern producers and retailers make sure the shelves are stocked ...
O'Donohoe on Potato Chips and Salty Snacks
August 22, 2011 06:30 - 1 hour - 41.2 MBBrendan O'Donohoe of Frito-Lay talks with EconTalk host Russ Roberts about how potato chips and other salty snacks get made, distributed, and marketed. The interview follows an hour-long tour of a local supermarket where O'Donohoe showed Roberts some of the ways that chips and snacks get displayed and marketed in a modern supermarket. The conversation is a window into a world that few of us experience or are even aware of--how modern producers and retailers make sure the shelves are stocked ...
Brady on the Electorate and the Elections of 2010 and 2012
August 15, 2011 06:30 - 1 hour - 30.9 MBDavid Brady of Stanford University talks with EconTalk host Russ Roberts about the lessons of the election of 2010 and what we might expect from the elections of 2012. Brady draws on political history as well as survey results from work with colleagues Doug Rivers and Morris Fiorina to speculate about the elections of 2012. Along the way he discusses the power of the independent vote, how ObamaCare affected the election of 2010, and the prospects for the Republican nominee in 2012. Taped a f...
David Brady on the Electorate and the Elections of 2010 and 2012
August 15, 2011 06:30 - 1 hour - 30.9 MBDavid Brady of Stanford University talks with EconTalk host Russ Roberts about the lessons of the election of 2010 and what we might expect from the elections of 2012. Brady draws on political history as well as survey results from work with colleagues Doug Rivers and Morris Fiorina to speculate about the elections of 2012. Along the way he discusses the power of the independent vote, how ObamaCare affected the election of 2010, and the prospects for the Republican nominee in 2012. Taped a f...
Satz on Markets
August 08, 2011 06:30 - 1 hour - 28.5 MBDebra Satz, Professor of Philosophy at Stanford University, talks with EconTalk host Russ Roberts about her book, Why Some Things Should Not Be For Sale: The Moral Limits of the Market. Satz argues that some markets are noxious and should not be allowed to operate freely. Topics discussed include organ sales, price spikes after natural disasters, the economic concept of efficiency and utilitarianism. The conversation includes a discussion of the possible limits of political intervention and ...
Debra Satz on Markets
August 08, 2011 06:30 - 1 hour - 28.5 MBDebra Satz, Professor of Philosophy at Stanford University, talks with EconTalk host Russ Roberts about her book, Why Some Things Should Not Be For Sale: The Moral Limits of the Market. Satz argues that some markets are noxious and should not be allowed to operate freely. Topics discussed include organ sales, price spikes after natural disasters, the economic concept of efficiency and utilitarianism. The conversation includes a discussion of the possible limits of political intervention and ...
Anat Admati on Financial Regulation
August 01, 2011 06:30 - 1 hour - 28.3 MBAnat Admati of Stanford University talks with EconTalk host Russ Roberts about ways to make the financial system more stable. In particular, Admati explores the implications of higher capital requirements. She argues that current policies subsidize leverage--high levels of debt relative to equity--and that current levels of leverage increase the vulnerability of the system to swings in asset prices. She then gives her response to criticisms of higher equity levels. The conversation concludes...
Admati on Financial Regulation
August 01, 2011 06:30 - 1 hour - 28.3 MBAnat Admati of Stanford University talks with EconTalk host Russ Roberts about ways to make the financial system more stable. In particular, Admati explores the implications of higher capital requirements. She argues that current policies subsidize leverage--high levels of debt relative to equity--and that current levels of leverage increase the vulnerability of the system to swings in asset prices. She then gives her response to criticisms of higher equity levels. The conversation concludes...
Keith Hennessey on the Debt Ceiling and the Budget Process
July 25, 2011 06:30 - 1 hour - 32.7 MBKeith Hennessey of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the debt ceiling and the budget process. Hennessey, who worked for Senate Majority Leader Trent Lott on budget issues in the late 1990s, explains the politics of the debt ceiling and the budget process. Using his past experience as a staffer, Hennessey gives those of us on the outside a window into what is actually going on in the hallways, who has power, and how information flows up and d...
Hennessey on the Debt Ceiling and the Budget Process
July 25, 2011 06:30 - 1 hour - 32.7 MBKeith Hennessey of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the debt ceiling and the budget process. Hennessey, who worked for Senate Majority Leader Trent Lott on budget issues in the late 1990s, explains the politics of the debt ceiling and the budget process. Using his past experience as a staffer, Hennessey gives those of us on the outside a window into what is actually going on in the hallways, who has power, and how information flows up and d...
Taylor on Fiscal and Monetary Policy
July 18, 2011 06:30 - 59 minutes - 27.3 MBJohn Taylor of Stanford University talks with EconTalk host Russ Roberts about the state of the economy and the prospects for recovery. Taylor argues that the design of the fiscal stimulus was ineffective and monetary policy, so-called quantitative easing, has also failed to improve matters. He argues for a return to fiscal, monetary, and regulatory normalcy as the best hope for economic improvement. The conversation concludes with a discussion of the impact of the current crisis on economic...
John Taylor on Fiscal and Monetary Policy
July 18, 2011 06:30 - 59 minutes - 27.3 MBJohn Taylor of Stanford University talks with EconTalk host Russ Roberts about the state of the economy and the prospects for recovery. Taylor argues that the design of the fiscal stimulus was ineffective and monetary policy, so-called quantitative easing, has also failed to improve matters. He argues for a return to fiscal, monetary, and regulatory normalcy as the best hope for economic improvement. The conversation concludes with a discussion of the impact of the current crisis on economic...
Abhijit Banerjee on Poverty and Poor Economics
July 11, 2011 06:30 - 50 minutes - 23 MBAbhijit Banerjee of MIT talks with EconTalk host Russ Roberts about Banerjee's book (co-authored with Esther Duflo), Poor Economics. The conversation begins with how randomized control trials (a particular kind of social experiment) have been used to measure the effectiveness of various types of aid to the poor. Banerjee goes on to discuss hunger, health, and education--the challenges in each area and what we have learned about what works and what does not. The conversation closes with a dis...
Banerjee on Poverty and Poor Economics
July 11, 2011 06:30 - 50 minutes - 23 MBAbhijit Banerjee of MIT talks with EconTalk host Russ Roberts about Banerjee's book (co-authored with Esther Duflo), Poor Economics. The conversation begins with how randomized control trials (a particular kind of social experiment) have been used to measure the effectiveness of various types of aid to the poor. Banerjee goes on to discuss hunger, health, and education--the challenges in each area and what we have learned about what works and what does not. The conversation closes with a dis...
Skeel on Bankruptcy and the Auto Industry Bailout
July 04, 2011 06:30 - 1 hour - 28 MBDavid Skeel of the University of Pennsylvania Law School talks with EconTalk host Russ Roberts about bankruptcy and the government bailout of the auto industry. Skeel argues that the bailout damaged the rule of law by not allowing a bankruptcy procedure to take its course. Skeel speculates on how bankruptcy for GM and Chrysler might have proceeded. He also argues that the costs to the taxpayer of the bailout have been underestimated. The conversation concludes with a general discussion of th...
David Skeel on Bankruptcy and the Auto Industry Bailout
July 04, 2011 06:30 - 1 hour - 28 MBDavid Skeel of the University of Pennsylvania Law School talks with EconTalk host Russ Roberts about bankruptcy and the government bailout of the auto industry. Skeel argues that the bailout damaged the rule of law by not allowing a bankruptcy procedure to take its course. Skeel speculates on how bankruptcy for GM and Chrysler might have proceeded. He also argues that the costs to the taxpayer of the bailout have been underestimated. The conversation concludes with a general discussion of th...
Otteson on Adam Smith
June 27, 2011 06:30 - 1 hour - 32.7 MBJames Otteson of Yeshiva University talks with EconTalk host Russ Roberts about Adam Smith. The conversation begins with a brief sketch of David Hume and his influence on Smith and then turns to the so-called Adam Smith problem--the author of The Wealth of Nations appears to have a different take on human nature than the author of The Theory of Moral Sentiments. Smith worked on both books throughout his life, yet their perspectives seem so different. Otteson argues that the books focus on so...
James Otteson on Adam Smith
June 27, 2011 06:30 - 1 hour - 32.7 MBJames Otteson of Yeshiva University talks with EconTalk host Russ Roberts about Adam Smith. The conversation begins with a brief sketch of David Hume and his influence on Smith and then turns to the so-called Adam Smith problem--the author of The Wealth of Nations appears to have a different take on human nature than the author of The Theory of Moral Sentiments. Smith worked on both books throughout his life, yet their perspectives seem so different. Otteson argues that the books focus on so...
Michael Munger on Exchange, Exploitation and Euvoluntary Transactions
June 20, 2011 06:30 - 1 hour - 28.8 MBMike Munger of Duke University talks with EconTalk host Russ Roberts about the psychology, sociology, and economics of buying and selling. Why are different transactions that seemingly make both parties better off frowned on and often made illegal? In theory, all voluntary transactions should make both parties better off. But Munger argues that some transactions are more voluntary than others. Munger lists the attributes of a truly voluntary transaction, what he calls a euvoluntary transacti...
Munger on Exchange, Exploitation and Euvoluntary Transactions
June 20, 2011 06:30 - 1 hour - 28.8 MBMike Munger of Duke University talks with EconTalk host Russ Roberts about the psychology, sociology, and economics of buying and selling. Why are different transactions that seemingly make both parties better off frowned on and often made illegal? In theory, all voluntary transactions should make both parties better off. But Munger argues that some transactions are more voluntary than others. Munger lists the attributes of a truly voluntary transaction, what he calls a euvoluntary transacti...
Buchholz on Competition, Stress, and the Rat Race
June 13, 2011 06:30 - 59 minutes - 27.3 MBTodd Buchholz, author of Rush: Why You Need and Love the Rat Race, talks with EconTalk host Russ Roberts about the ideas in the book. Buchholz argues that competition and striving for excellence is part of our evolutionary inheritance. He criticizes attempts to remake human beings into gentle creatures who long to return to an Eden-like serenity. He argues that it is action, creativity, and planning for the future that makes us happy. The discussion includes the implications of our interest ...
Todd Buchholz on Competition, Stress, and the Rat Race
June 13, 2011 06:30 - 59 minutes - 27.3 MBTodd Buchholz, author of Rush: Why You Need and Love the Rat Race, talks with EconTalk host Russ Roberts about the ideas in the book. Buchholz argues that competition and striving for excellence is part of our evolutionary inheritance. He criticizes attempts to remake human beings into gentle creatures who long to return to an Eden-like serenity. He argues that it is action, creativity, and planning for the future that makes us happy. The discussion includes the implications of our interest ...
Barry Eichengreen on the Dollar and International Finance
June 06, 2011 06:30 - 1 hour - 29.9 MBBarry Eichengreen of University of California, Berkeley and author of Exorbitant Privilege talks with EconTalk host Russ Roberts about the history and importance of the dollar as the dominant international currency. Eichengreen explains the advantages to the United States of the dollar's dominance, the historical circumstances that led to its dominance, and the likelihood that the dollar might be supplanted by a competitor. Along the way they discuss China's currency policy, the state of U.S...
Eichengreen on the Dollar and International Finance
June 06, 2011 06:30 - 1 hour - 29.9 MBBarry Eichengreen of University of California, Berkeley and author of Exorbitant Privilege talks with EconTalk host Russ Roberts about the history and importance of the dollar as the dominant international currency. Eichengreen explains the advantages to the United States of the dollar's dominance, the historical circumstances that led to its dominance, and the likelihood that the dollar might be supplanted by a competitor. Along the way they discuss China's currency policy, the state of U.S...
Easterly on Benevolent Autocrats and Growth
May 30, 2011 11:30 - 1 hour - 30 MBWilliam Easterly of New York University talks with EconTalk host Russ Roberts about the oft-heard claim that poor countries led by autocrats grow faster than poor countries that are democratic. Drawing on a recent paper, "Benevolent Autocrats," Easterly argues that while some autocracies do indeed grow very quickly, a much greater number do not. Yet, the idea that the messiness of democracy is inferior to a dictatorship remains seductive. Easterly gives a number of arguments for the perennial...
Easterly on Benevolent Autocrats and Growth
May 30, 2011 06:30 - 1 hour - 30 MBWilliam Easterly of New York University talks with EconTalk host Russ Roberts about the oft-heard claim that poor countries led by autocrats grow faster than poor countries that are democratic. Drawing on a recent paper, "Benevolent Autocrats," Easterly argues that while some autocracies do indeed grow very quickly, a much greater number do not. Yet, the idea that the messiness of democracy is inferior to a dictatorship remains seductive. Easterly gives a number of arguments for the perennia...
William Easterly on Benevolent Autocrats and Growth
May 30, 2011 06:30 - 1 hour - 30 MBWilliam Easterly of New York University talks with EconTalk host Russ Roberts about the oft-heard claim that poor countries led by autocrats grow faster than poor countries that are democratic. Drawing on a recent paper, "Benevolent Autocrats," Easterly argues that while some autocracies do indeed grow very quickly, a much greater number do not. Yet, the idea that the messiness of democracy is inferior to a dictatorship remains seductive. Easterly gives a number of arguments for the perennia...
Tim Harford on Adapt and the Virtues of Failure
May 23, 2011 06:30 - 58 minutes - 26.9 MBTim Harford, author and journalist, talks with EconTalk host Russ Roberts about Adapt, Harford's book on the virtues of failure and the trial and error process. Harford argues that success is more likely when there is experimentation and trial and error followed by adapting, rather than following a top-down, ex ante plan driven by expertise. The conversation looks at the what war can teach us about information, knowledge, and planning, the challenge of admitting mistakes, and the implication...
Harford on Adapt and the Virtues of Failure
May 23, 2011 06:30 - 58 minutes - 26.9 MBTim Harford, author and journalist, talks with EconTalk host Russ Roberts about Adapt, Harford's book on the virtues of failure and the trial and error process. Harford argues that success is more likely when there is experimentation and trial and error followed by adapting, rather than following a top-down, ex ante plan driven by expertise. The conversation looks at the what war can teach us about information, knowledge, and planning, the challenge of admitting mistakes, and the implication...
William Byers on the Blind Spot, Science, and Uncertainty
May 16, 2011 06:30 - 1 hour - 32.2 MBWilliam Byers of Canada's Concordia University and author of The Blind Spot talks with EconTalk host Russ Roberts about the nature of knowledge, science and mathematics. Byers argues that there is an inherent uncertainty about science and our knowledge that is frequently ignored. Byers contrasts a science of wonder with a science of certainty. He suggests that our knowledge of the physical world will always be incomplete because of the imperfection of models and human modes of thought relati...
Byers on the Blind Spot, Science, and Uncertainty
May 16, 2011 06:30 - 1 hour - 32.2 MBWilliam Byers of Canada's Concordia University and author of The Blind Spot talks with EconTalk host Russ Roberts about the nature of knowledge, science and mathematics. Byers argues that there is an inherent uncertainty about science and our knowledge that is frequently ignored. Byers contrasts a science of wonder with a science of certainty. He suggests that our knowledge of the physical world will always be incomplete because of the imperfection of models and human modes of thought relati...
Bryan Caplan on Parenting
May 09, 2011 06:30 - 1 hour - 31.1 MBBryan Caplan of George Mason University and EconLog talks with EconTalk host Russ Roberts about the ideas in Caplan's new book, Selfish Reasons to Have More Kids. Caplan argues that parents spend too much time trying to influence how their kids will turn out as adults. Using research on twins and adopted children, Caplan argues that nature dominates nurture and that parents have little lasting influence on many aspects of their children's lives. He concludes that parents should spend less ti...
Caplan on Parenting
May 09, 2011 06:30 - 1 hour - 31.1 MBBryan Caplan of George Mason University and EconLog talks with EconTalk host Russ Roberts about the ideas in Caplan's new book, Selfish Reasons to Have More Kids. Caplan argues that parents spend too much time trying to influence how their kids will turn out as adults. Using research on twins and adopted children, Caplan argues that nature dominates nurture and that parents have little lasting influence on many aspects of their children's lives. He concludes that parents should spend less ti...
Papola on the Keynes Hayek Rap Videos
May 02, 2011 06:30 - 1 hour - 37.1 MBJohn Papola of Emergent Order talks with EconTalk host Russ Roberts about their collaboration creating rap videos based on the ideas of John Maynard Keynes and F. A. Hayek. Their first was "Fear the Boom and Bust" which was released January 25, 2010. This past week they released "Fight of the Century." The latest video discusses the overarching differences between the philosophies of Keynes and Hayek and their views on whether government spending promotes recovery from an economic downturn a...
John Papola on the Keynes Hayek Rap Videos
May 02, 2011 06:30 - 1 hour - 37.1 MBJohn Papola of Emergent Order talks with EconTalk host Russ Roberts about their collaboration creating rap videos based on the ideas of John Maynard Keynes and F. A. Hayek. Their first was "Fear the Boom and Bust" which was released January 25, 2010. This past week they released "Fight of the Century." The latest video discusses the overarching differences between the philosophies of Keynes and Hayek and their views on whether government spending promotes recovery from an economic downturn a...
Ariel Rubinstein on Game Theory and Behavioral Economics
April 25, 2011 06:30 - 1 hour - 27.9 MBAriel Rubinstein of Tel Aviv University and New York University talks with EconTalk host Russ Roberts about the state of game theory and behavioral economics, two of the most influential areas of economics in recent years. Drawing on his Afterword for the 60th anniversary edition of Von Neumann and Morgenstern's Theory of Games and Economic Behavior, Rubinstein argues that game theory's successes have been quite limited. Rubinstein, himself a game theorist, argues that game theory is unable ...
Rubinstein on Game Theory and Behavioral Economics
April 25, 2011 06:30 - 1 hour - 27.9 MBAriel Rubinstein of Tel Aviv University and New York University talks with EconTalk host Russ Roberts about the state of game theory and behavioral economics, two of the most influential areas of economics in recent years. Drawing on his Afterword for the 60th anniversary edition of Von Neumann and Morgenstern's Theory of Games and Economic Behavior, Rubinstein argues that game theory's successes have been quite limited. Rubinstein, himself a game theorist, argues that game theory is unable ...
Munger on Microfinance, Savings, and Poverty
April 18, 2011 06:30 - 58 minutes - 26.6 MBMike Munger of Duke University talks with EconTalk host Russ Roberts about microfinance. Munger argues that cultural forces make it difficult for some families to save, and the main value of microfinance is to allow a higher level of savings. Families are willing to save via microfinance even though returns can be negative. Munger argues that this counterintuitive result is possible when other means of savings are unavailable. Munger also discusses microfinance that is used for entrepreneurs...
Michael Munger on Microfinance, Savings, and Poverty
April 18, 2011 06:30 - 58 minutes - 26.6 MBMike Munger of Duke University talks with EconTalk host Russ Roberts about microfinance. Munger argues that cultural forces make it difficult for some families to save, and the main value of microfinance is to allow a higher level of savings. Families are willing to save via microfinance even though returns can be negative. Munger argues that this counterintuitive result is possible when other means of savings are unavailable. Munger also discusses microfinance that is used for entrepreneurs...
Rodrik on Globalization, Development, and Employment
April 11, 2011 06:30 - 1 hour - 27.5 MBDani Rodrik of Harvard University talks with EconTalk host Russ Roberts about trade, the labor market, and trade policy. Drawing on a recent paper with Margaret McMillan on trade and productivity, Rodrik argues that countries have very differing abilities to respond to increases in productivity that allow production to expand using fewer workers in a particular sector. When workers are displaced by productivity increases, what is their next best alternative? Rodrik discusses how this varies ...
Dani Rodrik on Globalization, Development, and Employment
April 11, 2011 06:30 - 1 hour - 27.5 MBDani Rodrik of Harvard University talks with EconTalk host Russ Roberts about trade, the labor market, and trade policy. Drawing on a recent paper with Margaret McMillan on trade and productivity, Rodrik argues that countries have very differing abilities to respond to increases in productivity that allow production to expand using fewer workers in a particular sector. When workers are displaced by productivity increases, what is their next best alternative? Rodrik discusses how this varies ...
Andresen on BitCoin and Virtual Currency
April 04, 2011 06:30 - 57 minutes - 26.5 MBGavin Andresen, Principal of the BitCoin Virtual Currency Project, talks with EconTalk host Russ Roberts about BitCoin, an innovative attempt to create a decentralized electronic currency. Andresen explains the origins of BitCoin, how new currency gets created, how you can acquire BitCoins and the prospects for BitCoin's future. Can it compete with government-sanctioned money? How can users trust it? What threatens BitCoin and how might it thrive?
Gavin Andresen on BitCoin and Virtual Currency
April 04, 2011 06:30 - 57 minutes - 26.5 MBGavin Andresen, Principal of the BitCoin Virtual Currency Project, talks with EconTalk host Russ Roberts about BitCoin, an innovative attempt to create a decentralized electronic currency. Andresen explains the origins of BitCoin, how new currency gets created, how you can acquire BitCoins and the prospects for BitCoin's future. Can it compete with government-sanctioned money? How can users trust it? What threatens BitCoin and how might it thrive?
Vincent Reinhart on Bear Stearns, Lehman Brothers, and the Financial Crisis
March 28, 2011 06:30 - 1 hour - 31.9 MBVincent Reinhart of the American Enterprise Institute talks with EconTalk host Russ Roberts about the government interventions and non-interventions into financial markets in 2008. Conventional wisdom holds that the failure to intervene in the collapse of Lehman Brothers precipitated the crisis. Reinhart argues that the key event occurred months earlier when the government engineered a shotgun marriage of Bear Stearns to JP Morgan Chase by guaranteeing billion of Bear's assets and sending a...