Economist Emily Oster On Rationality and Risk
The Daily Stoic
Daily Stoic | Backyard Ventures
4.5 • 5.3K Ratings
🗓️ 13 January 2021
⏱️ 56 minutes
🧾️ Download transcript
Summary
On today’s episode, Ryan has a wide-ranging conversation with professor and economist Emily Oster. They talk about how to balance your life with children, how to communicate positive messaging, how the American government handled the pandemic, and more.
Emily Oster is a professor of economics at Brown University, as well as the bestselling author of several books. Her most recent book, Cribsheet, aims to help improve decision making during the early years of parenting.
This episode is brought to you by GiveWell, the best site for figuring out how and where to donate your money to have the greatest impact. GiveWell’s team of researchers works countless hours to determine which charities make the most effective dollar-for-dollar contributions to the causes they support. Since 2010, GiveWell has helped over 50,000 donors donate over 500 million dollars to the most effective charities, leading to over 75,000 lives saved and millions more improved. Visit GiveWell.org/stoic and your first donation will be matched up to 100 dollars.
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Transcript
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| 0:00.0 | Hey, prime members. You can listen to the Daily Stood Podcast early and add free on Amazon music. Download the app today. |
| 0:11.8 | Welcome to the Daily Stood Podcast where each day we bring you a passage of ancient wisdom designed to help you find strength, insight, and wisdom every day life. |
| 0:21.4 | Each one of these passages is based on the 2000-year-old philosophy that has guided some of history's greatest men and women. For more, you can visit us at DailyStood.com. |
| 0:34.4 | Welcome to another episode of the Daily Stood Podcast. As you know, I'm a proud father of two little boys. |
| 0:43.4 | If you're a parent, you may be familiar with the work of today's guest. I'm talking about the economist Emily Oster. Actually, I wrote an article about Emily for Daily Dab, which is my other podcast and the other Daily Email we do. |
| 0:59.4 | And it's funny. I thought I'd tell you this little story. So I try to be very gender balanced when I write. I try to, to Robert Greengaming, this great advice you always want the reader to be included. |
| 1:08.4 | So it's something I consciously think about. But when I was writing about Emily, and I was talking about some of the interesting sort of parenting tactics that her parents had done. |
| 1:19.4 | And I said, if you're not familiar with Emily Oster, your wife probably is. That being, you know, sort of that is a daily dad. So I thought, you know, |
| 1:27.4 | and I got a nice note from a man, he said, hey, you know, I really like your email. I read it every day. But I didn't like this because you were said you said that your wife might know. And he's like, my husband and I pass Emily's books have passed Emily's books between us many times. |
| 1:48.4 | And we get her newsletter, which I also recommend she has this great sub stack newsletter. And he said, you know, I felt a little excluded by this. And I, he was totally right. Look, the reason I was thinking wife is that one of Emily's books. |
| 2:00.4 | The book, I think she's sort of most known for it got a lot of attention is this book expecting better, which is primarily for, for pregnant women. |
| 2:09.4 | But her other book, crib sheets is of the same length is much less gender specific. Basically what Emily does. And this why I work so important and why I wanted to have her on. |
| 2:20.4 | She looks at things sort of hyper rationally. So she doesn't look at, you know, what, what the old wives tales about raising kids are. She doesn't look at the tropes. She doesn't, she looks, she goes, what is the data show. |
| 2:33.4 | And as an economist, she really looks at the data. And she's been a godsend during the pandemic. She's one of the few people actually look at the data of whether you should be sending your kids back to school or not. |
| 2:47.4 | I actually don't totally agree with her conclusions. But I like the idea of let's actually look at this. Let's not, let's ignore what everyone else is doing. Let's ignore what the pressure to do this or that. Let's ignore what all of that. |
| 2:59.4 | And let's just look at the data. And so she's got this brilliant mind. It, it, she's kind of like a Peter teal in a way where it's not that she's contrarian. |
| 3:08.4 | But I think Emily thinks independently on these issues because she went to the, to the first principle. So Emily's work is great. This is an awesome conversation. Her perspective was super helpful to me. |
| 3:19.4 | I came home and I was talking to my wife about it. And, and then as it happens, shout out to my UK publisher profile Emily and I share the same publisher there in the UK. |
| 3:30.4 | We don't get as much into stoicism as maybe I like that there's a few connections, although Emily is a professor at Brown University where they, as I said, are in the middle of trying to tear down a markets of real estate, which is totally insane. |
| 3:44.4 | But we don't get into that. We do talk about being rational, looking at the data, managing risk. |
| 3:52.4 | These are all questions that Emily of all people is qualified to answer and give us insights on. So I hope you enjoyed this interview with me and Emily Oster. |
| 4:01.4 | Check out her book, expecting better her other book, crib sheets, and I highly recommend her sub stack newsletter, Emily, Emily Oster from parent data. It's great. One of the few that I get. |
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