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Conversations with Tyler / episode intelligence

John Cochrane on Economic Puzzles and Habits of Mind

10 Mar 2021 18 published claims 2 attributable people
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Speakers in the public record

John CochraneTyler Cowen

Claim mix

belief 5recommendation 4evaluation 3prediction 3preference 2commitment 1

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Claim ledger

The useful parts, with receipts.

18 published records

03 / belief

I’m not sure of the net effect there. It could also mean you just have more political spectra floating around, but I think non-Americans, on average, are more interventionist than Americans.

“I’m not sure of the net effect there. It could also mean you just have more political spectra floating around, but I think non-Americans, on average, are more interventionist than Americans.”
Speaker
Tyler Cowen
Publisher
Conversations with Tyler

05 / belief

The problem with all of us doing it is, I think what we’re seeing in the market is less blog, which is a personal brand name, and more of the Vox, Quillette, and so forth — curated things that are not publications.

“The problem with all of us doing it is, I think what we’re seeing in the market is less blog, which is a personal brand name, and more of the Vox, Quillette, and so forth — curated things that are not publications.”
Speaker
John Cochrane
Publisher
Conversations with Tyler

06 / commitment

Bicycle racers said, “Oh, we can’t have helmets. We won’t be able to see.” Glider pilots have the same response to any rules that make things a little bit safer.

“Bicycle racers said, “Oh, we can’t have helmets. We won’t be able to see.” Glider pilots have the same response to any rules that make things a little bit safer.”
Speaker
John Cochrane
Publisher
Conversations with Tyler

08 / belief

How can we better engineer our political organization — kind of a constitutional moment — to produce the better economic outcomes that you and I know are there and just sitting — You and I are techno-optimists, where I think we think that the US, the world could be vastly wealthier, healthier, and cleaner if just the regulatory state would get out of the way.

“How can we better engineer our political organization — kind of a constitutional moment — to produce the better economic outcomes that you and I know are there and just sitting — You and I are techno-optimists, where I think we think that the US, the world could be vastly wealthier, healthier, and cleaner if just the regulatory state would get out of the way.”
Speaker
John Cochrane
Publisher
Conversations with Tyler

13 / prediction

The essence of the habit — and this is a paper that John Campbell and I wrote in the 1990s — what we were trying to get at was not so much the level of the equity premium — why do stocks seem to pay reliably more than bonds, so much for so long?

“The essence of the habit — and this is a paper that John Campbell and I wrote in the 1990s — what we were trying to get at was not so much the level of the equity premium — why do stocks seem to pay reliably more than bonds, so much for so long?”
Speaker
John Cochrane
Publisher
Conversations with Tyler

14 / evaluation

Just forcing hospitals to post prices — they have to cross-subsidize the Medicare or Medicaid that doesn’t pay anything like what it costs from something else because the government’s not paying.

“Just forcing hospitals to post prices — they have to cross-subsidize the Medicare or Medicaid that doesn’t pay anything like what it costs from something else because the government’s not paying.”
Speaker
John Cochrane
Publisher
Conversations with Tyler

16 / preference

I would be fine with — when we start this up, and you, Tyler, have some known genetic quantity that means you’re going to be more expensive, the government gives you a lump sum.

“I would be fine with — when we start this up, and you, Tyler, have some known genetic quantity that means you’re going to be more expensive, the government gives you a lump sum.”
Speaker
John Cochrane
Publisher
Conversations with Tyler

17 / evaluation

Bob Lucas told the story that in the late ’60s and ’70s, when he and his buddies were developing rational expectations and getting all the stuff that got the Nobel prizes at Chicago, they felt awful because all the hot attention was going to MIT and Harvard and what people were doing there.

“Bob Lucas told the story that in the late ’60s and ’70s, when he and his buddies were developing rational expectations and getting all the stuff that got the Nobel prizes at Chicago, they felt awful because all the hot attention was going to MIT and Harvard and what people were doing there.”
Speaker
John Cochrane
Publisher
Conversations with Tyler
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