Angus Deaton on Inequality, Trade, and the Robin Hood Principle

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4.7 • 4.4K Ratings

🗓️ 10 October 2016

⏱️ 65 minutes

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Summary

Nobel Laureate in Economics Angus Deaton of Princeton University talks with EconTalk host Russ Roberts about the economics of trade and aid. Deaton wonders if economists should re-think the widely-held view that redistribution from rich nations to poor nations makes the world a better place. The conversation focuses on the challenges facing poor Americans including the rising mortality rate for white Americans ages 45-54.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:09.3	I'm your host, Russ Roberts of Stanford University's Hoover Institution.
0:13.8	Our website is econtalk.org where you can subscribe, comment on this podcast, and find
0:18.9	links and other information related to today's conversation.
0:21.7	You'll also find our archives where you can listen to every episode we've ever done going
0:26.1	back to 2006.
0:28.3	Our email address is mailadycontalk.org.
0:30.8	We'd love to hear from you.
0:36.2	Today is August 30th, 2016, and my guest is Angus Deaton of Princeton University and Nobel
0:42.4	Laureate in Economics.
0:44.2	He has written widely on poverty, health, economic development, and he appeared previously on
0:48.8	Econ Talk in November of 2013, discussing his book, The Great Escape.
0:54.0	Angus, welcome back to Econ Talk.
0:56.1	Wonderful to be back.
0:57.3	Thank you very much, Russ.
0:59.0	Our topic for today is a recent SAE wrote with a title, Do We Need to Rethink the Robinhood
1:04.4	Principle?
1:05.9	What is the Robinhood Principle you're referring to?
1:08.7	Well, as everybody, I think the common understanding would be the Robinhood Principle is taking
1:14.1	from the rich and giving to the poor.
1:17.8	What I had in mind is a somewhat more technical concept, which philosophers nowadays call
1:25.4	prioritarianism.
	...

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