Ed Leamer on Manufacturing, Effort, and Inequality

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4.7 • 4.3K Ratings

🗓️ 13 April 2020

⏱️ 74 minutes

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Summary

Economist Ed Leamer of UCLA talks about manufacturing, effort, and inequality with EconTalk host Russ Roberts. The conversation draws on recent empirical work of Leamer's on how measured inequality is affected by the work effort of Americans at different levels of education. The conversation ends with a discussion of how education can be transformed when it is more personal and allows the student to explore and discover under the guidance of a teacher.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:08.0	I'm your host, Russ Roberts of Stanford University's Hoover Institution.
0:12.0	Our website is econtalk.org, where you can subscribe, comment on this podcast,
0:17.0	and find links and other information related to today's conversation.
0:21.0	We'll also find our archives where you can listen to every episode we've ever done going back to 2006.
0:27.0	Our email address is mailadycontalk.org. We'd love to hear from you.
0:33.0	Today is January 31st, 2020, and my guest is economist Ed Lemur of UCLA,
0:39.0	where he is the chancee.j. medbury chair and management.
0:42.0	It's also a professor in economics and statistics and the director of the UCLA Anderson forecast.
0:47.0	This is Ed's fourth appearance on e-contalk, but he has not been here.
0:51.0	I'm sad to say, since May of 2010, when we talked about the state of econometrics,
0:57.0	our topic for today is the role of effort in affecting how we measure inequality during on a recent paper,
1:03.0	which we will link to that he has written with Jay Rodrigo Frentis.
1:07.0	I want to thank Plantronics for supplying Ed with the Blackwearer 5220 headset.
1:11.0	Ed, welcome back to e-contalk. It has been a while.
1:15.0	It's great to be back. I missed this conversation.
1:18.0	I admire all the stuff you do, and being participant is really great.
1:22.0	Thanks, Ed. Well, let's start with the transformation of manufacturing.
1:26.0	There's a lot of concern about that out in the policy space, the political world,
1:32.0	and there's some complexity there between output and employment,
1:36.0	but it's certainly a sector of the economy that's changed drastically over the last 50, 60 years.
1:41.0	Well, I would back up and say that we built our democracy in the factory floors of America,
	...

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