Justin Wolfers
speaker
76 appearances
4 recordings
1 series
first heard Aug 2012
last heard Jun 2014
Justin Wolfers’s voice in public audio — every appearance, attributed to the second.
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Appearances
Fortunately, my wife cannot, in the face of my misery, continue with her campaign.
The Lurpak reappears!
Becker saw economics everywhere.
Many people always thought about economics as a distinct field of inquiry, money and banking and demand and supply and stuff.
Becker saw it as an approach, and the economic approach was to look at people and think about them as making purposeful decisions.
And they can do that in a market, that's standard economics.
But then there's Becker's economics, which is we do the same thing when we're deciding whether to marry or who to marry, when we're deciding whether or not to take addictive drugs, when we're deciding whether or not to commit a crime.
And so this expands economics into areas and questions that the field had previously shied away from.
It's hard to understand how great of a movement this was.
When Becker wrote his dissertation on discrimination, which of course today we think of as economics, back then people ignored it and didn't quite think of it as being a central economic question.
This is the 1950s?
Back in the 1950s.
The view that economics can help us understand just about every aspect of our life, it's a very, very modern view and it's all about Becker.
He meant very few regulations he liked.
And so if you start with very simple tools, saying that people are making decisions, trying to do the best they can in the circumstances they can,
It's not surprising that quite often your conclusions will turn out to be leave them alone to do that.
And so he was very much a laissez-faire economist.
And if you think hard enough about it, it's self-evidently obvious.
Who we marry is one of the most romantic decisions we make.
It's also one of the most important.
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