Tyler Cowen

I think over time, Chinese companies will be as large as the American ones. But right now, our lead there is pretty strong, and it's not going away anytime soon.

I think over time, Chinese companies will be as large as the American ones. But right now, our lead there is pretty strong, and it's not going away anytime soon.

Well, there's business and there's big business. If you're comparing big business to small business, big business pays higher wages. It gives you better job security. People actually overall are happier working in big businesses. There's more people they can talk to or hang out with.

Well, there's business and there's big business. If you're comparing big business to small business, big business pays higher wages. It gives you better job security. People actually overall are happier working in big businesses. There's more people they can talk to or hang out with.

If the question is, what do we do without business, period, we just really wouldn't have much of anything produced. The Soviet Union tried that experiment. It was very poor. It required a high degree of oppression, no real free speech. So I view big business and this business in general as an American hero. It's maybe the thing in the world we're best at.

If the question is, what do we do without business, period, we just really wouldn't have much of anything produced. The Soviet Union tried that experiment. It was very poor. It required a high degree of oppression, no real free speech. So I view big business and this business in general as an American hero. It's maybe the thing in the world we're best at.

And it's a major reason why living in this country is so enjoyable.

And it's a major reason why living in this country is so enjoyable.

That's correct. Absolutely. Those of us who don't work for business typically work for institutions that are funded by business, directly or indirectly.

That's correct. Absolutely. Those of us who don't work for business typically work for institutions that are funded by business, directly or indirectly.

Well, one basic force is I think simply most people are themselves fairly inclusive and tolerant, and they want to work in environments that reflect those qualities. But at the margin, there are also profit incentives. You want to court more customers. You want to be able to hire more talented people from many different backgrounds.

Well, one basic force is I think simply most people are themselves fairly inclusive and tolerant, and they want to work in environments that reflect those qualities. But at the margin, there are also profit incentives. You want to court more customers. You want to be able to hire more talented people from many different backgrounds.

Companies were tolerant toward gay partnerships, what later became gay marriage, before the government was. And that was because of profit incentives. Can you elaborate? If you want to hire gay employees, and that's a significant percentage of the American population with an incredible amount of talent there, the gay person will wonder, how will my partner be treated?

Companies were tolerant toward gay partnerships, what later became gay marriage, before the government was. And that was because of profit incentives. Can you elaborate? If you want to hire gay employees, and that's a significant percentage of the American population with an incredible amount of talent there, the gay person will wonder, how will my partner be treated?

Can I share health insurance benefits with my partner? And so on. Will the partner be treated as a spouse? Nowadays, of course, the partner may well literally be a spouse because gay marriage is legal. But corporations were doing this before our government was. And I think there's an important lesson in that.

Can I share health insurance benefits with my partner? And so on. Will the partner be treated as a spouse? Nowadays, of course, the partner may well literally be a spouse because gay marriage is legal. But corporations were doing this before our government was. And I think there's an important lesson in that.

Go to the store and buy the products you like, I would say. And that's easy to do. We do it every day or sit at home on your sofa and click online.

Go to the store and buy the products you like, I would say. And that's easy to do. We do it every day or sit at home on your sofa and click online.

Well, I think a lot of people, maybe most people, simply cannot be entirely happy. So when life is good and the society is fairly rich, they psychologically make some trouble for themselves. They elevate small concerns into large ones. I'm not sure that people in poorer societies do this as much. They're more fighting to survive. People are still better off in the wealthier society.

Well, I think a lot of people, maybe most people, simply cannot be entirely happy. So when life is good and the society is fairly rich, they psychologically make some trouble for themselves. They elevate small concerns into large ones. I'm not sure that people in poorer societies do this as much. They're more fighting to survive. People are still better off in the wealthier society.