Paul Romer on Growth, Cities, and the State of Economics

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4.7 • 4.3K Ratings

🗓️ 22 April 2019

⏱️ 87 minutes

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Summary

Nobel Laureate Paul Romer of New York University talks with EconTalk host Russ Roberts about the nature of growth, the role of cities in the economy, and the state of economics. Romer also reflects on his time at the World Bank and why he left his position there as Chief Economist.

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.
0:33.6	Today is Tuesday, March 12, 2019, and my guest is economist and 2018 Nobel laureate Paul
0:41.2	Romer of New York University.
0:43.4	This is his fourth appearance on e-contalk, the last being in March of 2015.
0:47.4	Paul, welcome back.
0:48.4	Hey, it's good to be back.
0:50.1	And how many more times do I have to be on before I become the leader?
0:54.1	I think only about 32.
0:56.1	Okay, well, let's get busy.
0:58.7	You're on your way.
0:59.7	You're on your way.
1:02.7	I want to start with your thoughts on growth, which we've talked about at length here,
1:07.4	but I want to talk about a recent formulation you gave, which I really liked.
1:11.8	You contrasted the economics of objects and the economics of ideas.
1:16.8	What do you mean by that distinction?
	...

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