John Cochrane on Economic Growth and Changing the Policy Debate

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4.7 • 4.4K Ratings

🗓️ 26 September 2016

⏱️ 62 minutes

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Summary

How are those in favor of bigger government and those who want smaller government like a couple stuck in a bad marriage? Economist John Cochrane of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about how to take a different approach to the standard policy arguments. Cochrane wants to get away from the stale big government/small government arguments which he likens to a couple who have gotten stuck in a rut making the same ineffective arguments over and over. Cochrane argues for a fresh approach to economic policy including applications to growth, taxes and financial regulation.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:09.1	I'm your host, Russ Roberts, of Stanford University's Hoover Institution.
0:13.7	Our website is econtalk.org, where you can subscribe, comment on this podcast, and find
0:18.7	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
0:26.0	back to 2006.
0:28.2	Where you may address his mail.org, we'd love to hear from you.
0:34.6	Today is July 28, 2016.
0:36.6	I'm a guest at John Conchran, senior fellow at Stanford University's Hoover Institution.
0:41.9	Before joining Hoover, John was a professor of finance at the Booth School of Business
0:46.0	at the University of Chicago for decades.
0:48.0	Along with his extensive scholarly output, he blogs eloquently at the Grumpy Economist.
0:54.1	He's also a competition sale-plain pilot, which means he races gliders.
0:58.9	I have to confess that being 18,000 feet above the surface of the earth without an engine
1:03.6	scares the hack out of me.
1:05.4	So John is both wise and brave.
1:09.2	We are recording this episode in front of a live audience at a special event for Bay Area
1:13.0	Alums of the Booth School of Business of the University of Chicago, many of whom have
1:16.8	come out to see their former professor, which is lovely.
1:19.6	John, welcome back to Econ Talk.
1:21.2	Pleasure to be here.
1:22.8	Now our topic for today is how you and looking at a wide array of policy issues would like
	...

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