Book 1 Podcast
By Arnold Kling
One interesting issue is why the economic ideas in the book are so little discussed in the mainstream media or in the standard economics curriculum. Part of the reason may be that the ideas do not support standard Progressive policy ideas. But I think that there are other reasons. What we call Economics 2.0 yields important insights, but not precise, mathematical answers. It also focuses on explaining long-term trends, not short-term forecasts. It draws lessons not from elegant mathematical models, but from looking at economic history and economic development. Thus, when I see the late Paul Samuelson recommending more study of economic history, I have hope that the ideas in our book will eventually get more mainstream attention.