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EconTalk

Noah Smith on Worker Compensation, Co-determination, and Market Power

EconTalk

Library of Economics and Liberty

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4.74.3K Ratings

🗓️ 1 October 2018

⏱️ 75 minutes

🧾️ Download transcript

Summary

Bloomberg Opinion columnist and economist Noah Smith talks with EconTalk host Russ Roberts about corporate control, wages, and monopoly power. Smith discusses the costs and benefits of co-determination--the idea of putting workers on corporate boards. The conversation then moves to a lively discussion of wages and monopoly power and how the American worker has been doing in recent years.

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.

0:12.6

Our website is econtalk.org where you can subscribe, comment on this podcast, and find

0:17.6

links and other information related to today's conversation.

0:20.5

We'll also find our archives where you can listen to every episode we've ever done going

0:24.8

back to 2006.

0:27.0

Our email address is mailadycontalk.org.

0:29.0

We'd love to hear from you.

0:31.0

Today is September 7th, 2018, and my guest is economist and Bloomberg opinion column

0:38.1

to Snow a Smith.

0:39.6

He blogs at No Opinion.

0:41.5

That's his first name, Noah, followed by opinion, which we will link to.

0:44.8

This is his second e-contalk appearance.

0:46.6

He was here in December of 2015, talking about the reliability of economics as a science.

0:52.4

Noah, welcome back to Econ Talk.

0:54.4

Hey, Russ.

0:55.4

Good to be back.

0:57.0

Our topic for today is corporate governance and how corporations could be run differently

1:01.9

from the way they run now.

1:03.9

What are people worried about right now when they look at corporate governance and boards

1:09.2

of directors and what corporations' responsibilities and accountability are?

1:14.4

Well, there's a number of worries.

...

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