N. Gregory Mankiw: On the Economic Ideas of the Left and Right Today

Conversations with Bill Kristol

News, Society & Culture, Government, Politics

4.7 • 1.7K Ratings

🗓️ 11 January 2020

⏱️ 69 minutes

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Summary

How is the US economy performing today? How should we think about the turn against free markets by prominent figures of the Left and the Right? What economic policies might spur innovation and growth in the future? In this Conversation, Harvard economist N. Gregory Mankiw analyzes the current moment and shares his perspective on the major economic policies and ideas of the Left and the Right. According to Mankiw, the American economy remains robust and dynamic, despite only good (rather than excellent) economic growth in recent years and increased consternation about the rise of inequality. Criticizing policies that rely excessively on central planning, Mankiw calls for high-skilled immigration, innovative approaches to education, and maintaining incentives that yield investment in research and development. He also suggests some alterations in tax and welfare policies that might help ameliorate problems we face in the short and long term.

Transcript

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0:00.0	And the Welcome to Conversations, I'm Bill Crystal and I'm joined again. I think we've had one of these conversations, right?
0:21.0	By Greg Mankew, Professor of Economics at Harvard,
0:24.0	author of the best-selling economics textbook
0:26.4	for a long time, right?
0:28.2	It's amazing.
0:29.0	25 years something like that?
0:30.2	That's right.
0:31.2	Wow.
0:32.0	And that's much more impressive than being a professor at heart. The real market is speaking
0:37.1	there right?
0:38.1	Yes absolutely. And the chairman of the council of economic advisors under president
0:42.4	George W Bush and many other senior positions
0:45.4	and to countless dimensions.
0:47.6	So really one of the most respected economists in the country and respected on both sides.
0:51.8	And I thought we talked, I think,
0:54.5	when we had our first conversation a couple of years ago
0:56.6	about the surprising disregard for certain what would have thought would be certain economic truths and
1:05.0	principles on to some degree on both sides of the
1:08.0	of the political spectrum
1:10.0	and the situation's gotten worse so we need need to, we need to address this again.
1:13.0	We need to do a better job this time.
1:15.0	Of explaining to people what really is a problem to worry about and why people may be falling in love with certain fake solutions and attractive sounding
	...

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