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Jennifer Burns

๐Ÿ‘ค Person
1617 total appearances

Appearances Over Time

Podcast Appearances

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

But Arthur Burns is like him, a fellow Jewish immigrant boy on the make. He's older. And he's making a career as an economist. And then there's Homer Jones, who has gone to the University of Chicago and is studying with Frank Knight at Chicago and says, you have to go to Chicago. So he has these two mentors. And Burns in particular suggests, oh... I could be an economist.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

But Arthur Burns is like him, a fellow Jewish immigrant boy on the make. He's older. And he's making a career as an economist. And then there's Homer Jones, who has gone to the University of Chicago and is studying with Frank Knight at Chicago and says, you have to go to Chicago. So he has these two mentors. And Burns in particular suggests, oh... I could be an economist.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

But Arthur Burns is like him, a fellow Jewish immigrant boy on the make. He's older. And he's making a career as an economist. And then there's Homer Jones, who has gone to the University of Chicago and is studying with Frank Knight at Chicago and says, you have to go to Chicago. So he has these two mentors. And Burns in particular suggests, oh... I could be an economist.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

That could be my career path. You know, the idea to be an actuary for an insurance company, I'm not sure where he got that idea, but he just thought that was something he could do as someone who was good at math. And so the college really opens the perspective, opens the door. And then I think it's really key that, again, he doesn't get an explanation that he buys for the Great Depression.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

That could be my career path. You know, the idea to be an actuary for an insurance company, I'm not sure where he got that idea, but he just thought that was something he could do as someone who was good at math. And so the college really opens the perspective, opens the door. And then I think it's really key that, again, he doesn't get an explanation that he buys for the Great Depression.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

That could be my career path. You know, the idea to be an actuary for an insurance company, I'm not sure where he got that idea, but he just thought that was something he could do as someone who was good at math. And so the college really opens the perspective, opens the door. And then I think it's really key that, again, he doesn't get an explanation that he buys for the Great Depression.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

So then he's looking for one. And the math part is a really interesting aspect of his career. Now, he actually comes to Chicago to study with a mathematical economist, Henry Schultz. But he gets there, and he thinks Schultz is kind of dumb. He really does. He's incredibly arrogant, and he just thinks this guy's not that smart.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

So then he's looking for one. And the math part is a really interesting aspect of his career. Now, he actually comes to Chicago to study with a mathematical economist, Henry Schultz. But he gets there, and he thinks Schultz is kind of dumb. He really does. He's incredibly arrogant, and he just thinks this guy's not that smart.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

So then he's looking for one. And the math part is a really interesting aspect of his career. Now, he actually comes to Chicago to study with a mathematical economist, Henry Schultz. But he gets there, and he thinks Schultz is kind of dumb. He really does. He's incredibly arrogant, and he just thinks this guy's not that smart.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

And it seems that, I mean, Schultz did some really important work in the early stages of mathematical economics, but a lot of the oral histories about him are like, yeah, he wasn't that bright. Yeah. So Friedman's maybe onto something. So he falls into the set of students who are really enthralled with his other professor, Frank Knight. And Frank Knight is against math and economics.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

And it seems that, I mean, Schultz did some really important work in the early stages of mathematical economics, but a lot of the oral histories about him are like, yeah, he wasn't that bright. Yeah. So Friedman's maybe onto something. So he falls into the set of students who are really enthralled with his other professor, Frank Knight. And Frank Knight is against math and economics.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

And it seems that, I mean, Schultz did some really important work in the early stages of mathematical economics, but a lot of the oral histories about him are like, yeah, he wasn't that bright. Yeah. So Friedman's maybe onto something. So he falls into the set of students who are really enthralled with his other professor, Frank Knight. And Frank Knight is against math and economics.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

Frank Knight is like a neoclassical economist, but not a mathematical economist. He's an old school liberal. He's really concerned about economics. liberal democracy, economic liberalism. And Friedman is very deeply influenced by Knight. And he continues to pursue mathematical economics.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

Frank Knight is like a neoclassical economist, but not a mathematical economist. He's an old school liberal. He's really concerned about economics. liberal democracy, economic liberalism. And Friedman is very deeply influenced by Knight. And he continues to pursue mathematical economics.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

Frank Knight is like a neoclassical economist, but not a mathematical economist. He's an old school liberal. He's really concerned about economics. liberal democracy, economic liberalism. And Friedman is very deeply influenced by Knight. And he continues to pursue mathematical economics.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

So he'll go, for part of his graduate career, he goes to Columbia University, where he actually gets his PhD from. And he works with a mathematical economist there. And so he comes out trained in what will eventually be econometrics and statistics and economics. His early publications are in statistics, but it's not really where his intellectual heart and soul are.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

So he'll go, for part of his graduate career, he goes to Columbia University, where he actually gets his PhD from. And he works with a mathematical economist there. And so he comes out trained in what will eventually be econometrics and statistics and economics. His early publications are in statistics, but it's not really where his intellectual heart and soul are.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

So he'll go, for part of his graduate career, he goes to Columbia University, where he actually gets his PhD from. And he works with a mathematical economist there. And so he comes out trained in what will eventually be econometrics and statistics and economics. His early publications are in statistics, but it's not really where his intellectual heart and soul are.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

And eventually he will turn very profoundly against mathematics in economics and become a sort of heterodox strain throughout 20th century economics. It says simple models are better. Um, We need to work on empirical, work off empirical data, not construct elegant models, and becomes really sort of countercultural within economics in that way.

Lex Fridman Podcast
#457 โ€“ Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom

And eventually he will turn very profoundly against mathematics in economics and become a sort of heterodox strain throughout 20th century economics. It says simple models are better. Um, We need to work on empirical, work off empirical data, not construct elegant models, and becomes really sort of countercultural within economics in that way.