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An economist walks into a bar | Robert Litan | TEDxKC


I became an economist by accident. Angus Deaton, laureate in Economic Sciences

Angus Deaton describes his journey to the 2015 Nobel Memorial Prize in Economic Sciences at the 2015 Nobel Banquet in Stockholm City Hall on December 10, 2015.

Transforming cities with technology | The Economist

Cities are growing faster than at any time in history, straining services and infrastructure. Technology-driven advances are at the forefront of solving this age-old problem

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By 2050, two thirds of the world’s population will live in cities. Urbanisation is happening faster than at any time in human history.

Globally, 900 million people are living in slums. Cities can’t add housing fast enough. Today, an estimated one billion vehicles are already bringing urban areas to a standstill. Cities consume three-quarters of the world’s energy each year and are responsible for around 50% of greenhouse gas emissions.

These are challenges our cities have been facing for decades.

But now some city leaders, businesses, and even citizens, are taking new approaches to tackling these old problems. They’re transforming their cities with technology.

In Seoul, the use of data is seen as the key to tackling some of the big challenges of city life - like moving its people around. City workers here use sophisticated technology to understand and transform how the city - and its metro - can be run. The subway system transports 7 million people every day. It’s widely regarded as one of the best in the world. And the entire network from wheels to workers is driven by data.

The speed and frequency of the trains can be constantly adjusted to keep everything running smoothly. “Smart” cameras measure how many passengers are boarding - and how quickly and sensors on the trains and tracks monitor every last component to provide early warnings when maintenance is required and prevent a costly breakdown.

They use smartphone apps, social media and the web to give citizens real-time alerts and alternative routes - and keep this megacity running smoothly. Transport is just the start. Seoul’s city planners are using data to better understand more of the big challenges this fast-growing city faces, from air pollution to affordable housing.

There are an estimated 30,000 start-ups in South Korea - many of which are offering innovative solutions to challenges like the city’s housing shortages. One company uses this open-source data to pair up young people looking for accommodation with older citizens who have rooms to spare.

It’s a tiny offshoot of an industry that is growing rapidly in cities across the world. By 2020, this so-called “smart city” industry will be worth an estimated $1.5 trillion dollars. There’ll be investment in everything from networks and sensors to new apps and services, from the world’s biggest technology firms, to innovative new startups working from someone’s front room.

This is the headquarters of FLARE, a start-up based in Kenya. Its young entrepreneurs are working with real-time data sourced from that most ubiquitous of modern innovations: the smartphone. Kenya’s capital, Nairobi is emerging as a vibrant tech hub. It is also one of the fastest growing cities in the world. Home to 4.2 million people, it’s more than doubled its population in the last 20 years.

As in many cities in developing countries the ageing, inadequate infrastructure is struggling to cope. The problem isn't a shortage of ambulances - Nairobi has 150 of them - double the number needed in an average city. But the city has no centralized emergency service to coordinate them.

Residents here are faced with 50 different numbers to call for help - and no guarantee when - or whether - their ambulance will arrive.

The app aims to do the job of a centralized emergency service, compiling real-time data to coordinate and connect patients in need, available ambulances and the right hospitals or healthcare providers.

Across the developing world, innovators are increasingly exploiting existing technology to help citizens cope with their cities’ overstretched infrastructure.

In America, innovators are also looking ahead to the next wave - anticipating data-driven technologies that could help predict problems before they even happen. Boston, Massachusetts, is the 10th largest metropolitan area in America. It’s home to 4.8 million residents. And while Boston may be one of the oldest urban settlements in this country it’s fast developing world leading technology that could help shape the cities of the future.

This is the mission of MIT’s Senseable City Lab - to anticipate the impact of technology on urban life and use it to transform the way cities are run.

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An economist walks into a bar | Robert Litan | TEDxKC

This talk was given at a local TEDx event, produced independently of the TED Conferences. Litan's talk explores the surprising role economists have played in the development of the internet economy -- and quite possibly your love life.

As an economist and attorney, Litan has had nearly four decades of experience in the worlds of the law, economic research and policy, and as an executive in the private, public and government sectors. He has directed economic research at three major organizations – The Brookings Institution, The Kauffman Foundation and Bloomberg Government – and authored or co-authored 27 books on a variety of economic topics. His most recent book, “The Trillion Dollar Economists,” will be published by Wiley Press this September.

Litan currently is a non-resident senior fellow at Brookings; counsel to Korein Tillery, a law firm based in St. Louis and Chicago specializing in large case litigation; chief economist at Main Street Genome, a D.C.-based startup providing financial analytics to small businesses; and a regular contributor to the Think Tank blog published by The Wall Street Journal.

About TEDx, x = independently organized event In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

Economics PhD students predict the next big thing

I was given the opportunity to interview top PhD students in economics, so naturally I asked them: what's coming next?

If you'd like to read the papers the PhDs talk about in this video you can see them all (and associated posters) at

Thanks to the European Central Bank for giving me the opportunity to make this video! I encourage you to learn more about them and exactly what they do on their website and on their twitter (which is run by lovely people!) I'm still in Sintra as of posting this and filming a vlog which I think is going to be great, mostly because it's absolutely gorgeous here and there are some super interesting people to ask questions. I know a lot of you asked a lot of questions on twitter and in the comments, and I'm going to do my best to address as many as I can!

Obviously this video is at a simple level because it's an introduction and also because I wanted to give more time to the individual students than to detailed discussions of modern economics. There are plenty of other places to find that on the internet made by actually competent economists/journalists. For my part I will be pressing a bit deeper and asking more questions in my vlog next week - so stay tuned!

You can support the channel by donating at

Check out my website!

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Music by Epidemic Sound:

Filmed on my Canon 80D:
Editing done in Premiere and Audition.

Huge thanks to my supporters on Patreon: Dan Hanvey, David Efird, Suzanna Hofman, Amy Hadden, Ethan Fuller, Charles Bray, Syafiq Kay, Xavier Chesterfield, Jay Wright, Myles Kornfeld, Louis Gillet, Michael Phillips, Fraser Birks, Martin Hermes, Luca Schumann, Rhys Rickard-Frost, Cameron Matchett, Lachlan Woods, Tim Boxall, Simon Vaes, Gabriele Mozzicato, Jawad Alalasi, Gaia Frazao Nery, Kodzo, Claire Anthony, Eve Dillon, Rowan Gow, Matthias Loos, James Bridges, James Craig, Angela, Sanaa Al Derei, Mark Anthony Magro, Liam, Theresa Wang, Kieran Kelly, Wendover Productions, Kendra Johnson, Caitlin Louise.

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Vlogs from Oxford students -
My twitter -
My facebook -
My insta -
My goodreads -

Thanks to Vlogbrothers for their sponsorship of this video. Money from the Foundation to Decrease Worldsuck contributed to equipment used in this video.

An Economist Walks Into a Bar (with Allison Schrager)

Listen to the full episode here:

Allison Schrager is an economist who's studied negotiation, diversification, and also, the topic we'll discuss in today's episode, risk. She'll explain risk using a lens that we haven't seen someone use before...the eyes and actions of legal sex workers. To illustrate how people think about risk, she visited brothels, horse breeders, and, among others, poker players. We'll discuss the many ways we miscalculate risk, how to make better decisions, and what happens when we evaluate the wrong types of risk.

And in our headlines segment, we'll call up Madeline Hume from Morningstar. They've completed a report on the state of 529 college savings plans nationally, and Joe and Madeline will dive into the data. We'll talk ab out the latest innovations in plans, plus shine a spotlight on some of the best and worst states to invest your hard-earned college money. Plus, we'll look at one piece describing a shakeup in the online financial planning community that could spell trouble for industry leader Vanguard.

In our Haven Life Line segment, we'll throw out the line to Jason, who has some questions for OG about risk parity. Would something like a a 50/50 split between stocks and long-term treasuries a good idea? What are the possible downsides?

After we spend some time giving advice to Jason we'll tear open Chris's letter, who has some social security questions. Considering the investments and pensions Chris and his wife already have on the table, would it make more sense to defer taking social security? We'll give our thoughts, but if you're looking for a more in depth conversation about social security you can check our our previous interview with Philip Moeller and Paul Solman .

Thanks to Skillshare for supporting Stacking Benjamins. Get TWO months of courses for free at .

Thanks to Simple Contacts for supporting Stacking Benjamins. Save $20 on your first Simple Contacts order at and use promo code: sb.

Robert E Litan

Robert E Litan - Kauffman Foundation Vice President for Research and Policy

Good Capitalism, Bad Capitalism & Economics of Growth & Prosperity | Robert Litan | Talks at Google

Robert E. Litan, Vice President for Research and Policy at the Kauffman Foundation and Senior Fellow in the Economic Studies and Global Economics Programs at the Brookings Institution,
visits Google's Mountain View, CA headquarters to discuss his book Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity (co-authored with William J. Baumol and Carl Schramm).

Imagine this: a mere century ago, the purchasing power of an average American was one-tenth of what it is today. But what will it take to sustain that growth through the next century? And what can be said about economic growth to aspiring nations seeking higher standards of living for their citizens?In this important book, William J. Baumol, Robert E. Litan, and Carl J. Schramm contend that the answers to these questions lie within capitalist economies, though many observers make the mistake of believing that capitalism is of a single kind. Writing in an accessible style, the authors dispel that myth, documenting four different varieties of capitalism, some Good and some Bad for growth. The authors identify the conditions that characterize Good Capitalism--the right blend of entrepreneurial and established firms, which can vary among countries--as well as the features of Bad Capitalism. They examine how countries catching up to the United States can move faster toward the economic frontier, while laying out the need for the United States itself to stick to and reinforce the recipe for growth that has enabled it to be the leading economic force in the world. This pathbreaking book is a must read for anyone who cares about global growth and how to ensure America's economic future.

This event took place on March 20, 2008, as a part of the Authors@Google series.

S*** happens: The economics version

Stand-up economist Yoram Bauman doesn't usually swear... but it's unavoidable in this routine (S*** happens: the economics version). Filmed at the 2012 American Economic Association humor session in Chicago, Jan 7, 2012.

A Day in the Mind of an Economist

This is a video about the law of supply and demand, as well as market equilibrium.

Educația: confesiunea unui economist. | Bogdan Glăvan | TEDxPiataUniriiED

Este o naivitate să așteptăm reforma din interior, aceasta poate veni doar din exterior. Cultivarea libertății școlilor, profesorilor, părinților, de a-și alege ce vor să acumuleze, capital uman. La finalul acestei educații voluntare, interesate, vei ajunge să gândești ca un om liber, critic.

Bogdan Glăvan este autor al cărții „Liberalismul care imi place”, coautor al volumului „Capitalismul. Logica libertății” și este pasionat de educația liberă. Este profesor universitar de economie și a publicat mai multe articole în American Journal of Economics and Sociology, Quarterly Journal of Austrian Economics, Independent Review, şi a îndeplinit rolul de referent pentru publicaţii ştiinţifice prestigioase, printre care British Journal of Sociology.

Education: an economist confession
It is naïve to wait for the reform from within, it can only come from the outside. Cultivating the freedom in schools, for teachers, for parents so that they choose what they want to accumulate, human capital. At the end of this voluntary education, appealing you will come to think of yourself as a free, critical person.

Bogdan Glăvan is the author of the book Liberalismul care îmi place, co-author of the volume Capitalism. Logica libertății and he is passionate about free education. He is a professor of economics and has published several articles in the American Journal of Economics and Sociology, the Quarterly Journal of Austrian Economics, Independent Review, and has served as a referent for prestigious scientific publications, including the British Journal of Sociology.

Bogdan Glăvan is professor of Economics, director of Center of Economy Politics and Business “Murray Rothbard” from Romanian-American University (București). More info here: This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at

How an obsession with home ownership can ruin the economy | The Economist

Many dream of owning their own home, and thanks to huge financial incentives in the rich world many have been able to so. But government policies to encourage home ownership were a huge mistake. Read more here:

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Could Brexit end London's financial dominance? | The Economist

More than 300 financial organisations have already left the City of London to set up shop in other European capitals. What will this mean for London and the rest of Europe? Read more from The Economist:

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Secrets of the deep ocean | The Economist

Parts of the ocean floor are being explored for the first time. Scientists are using technology to map the damage caused by humanity—and reveal clues about how the ocean can be better protected.

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Deep beneath the ocean’s surface lie vast areas of seabed that have never before been explored by humankind. Now state-of-the-art technology is giving these scientists an unprecedented opportunity to conduct research that is vital to protecting the ocean. And to uncovering the true nature of damage being done to it.

This is the RV Investigator. The ship used by the Australian government and marine scientists to research the deep ocean.

Off the coast of Tasmania a team of scientists is on a remarkable mission to investigate marine life thousands of metres below the surface. To do this they are using advanced cameras attached to a submersible platform. The system is carefully dropped 1,000 metres down below the surface. It’s Karl’s job to make sure he stops the platform just two metres before it reaches the seabed.

Then the challenging task begins - navigating the craggy and uneven terrain of seamounts. Though found throughout the ocean,
from the poles to the equator, over 99% of them are unexplored. Scientists have discovered that seamounts support astonishingly diverse and unique ecosystems and provide food and spawning grounds to a wide variety of fish and sea mammals.

Today the team is surveying an area of the ocean floor that has never been explored before. In these dark depths over 1,000 metres below the surface the team is astonished to discover thriving coral communities. But the team is also visiting parts of the seabed that have experienced human contact before. To survey areas that have been damaged by bottom trawling. This method of fishing provides the biggest annual catch globally but uses vast nets that can literally scrape marine life off the ocean floor. Damage to seamounts here was first logged by scientists in the 1990s. But a marine protected area now keeps many of them safe from the nets.

The first signs are encouraging. Marine life is returning, anemones are beginning to grow back on the damaged areas. But it’s what the team can’t see that’s more worrying. There is little evidence that damaged coral itself the heartbeat of ecosystems down here
is reforming.

The data gathered here will form part of a growing body of evidence helping scientists evaluate whether damaged areas
will ever properly recover. The results from this trip are vital for the ocean’s would-be protectors as part of the wider battle to preserve marine habitats across the ocean floor. And make the case for more controlled and sustainable fishing.

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Paul Krugman Teaches Economics and Society | Official Trailer | MasterClass

Paul Krugman’s work is defined by his belief in the power of economic thought to open minds and change history.

Learn more about Paul Krugman Teaches Economics and Society:

In his economics class, Paul says that “economics covers 70% of life.” Not the passions and deep meanings, but everything that keeps clothes on our backs, food on our plates, and the trains running on time. The economic lens can help tell us how income inequality happens, it can predict how tariffs on Chinese steel will play out, and it can steer us toward more effective policies to get us out of a recession.

Over the course of his 40+ year career, Paul Krugman has become one of the most influential economists of our time. He is a NYT columnist, lecturer, best-selling author, and won a Nobel for his theories on international trade and economies of scale. Through it all, he’s made it his mission to translate complex and abstract economic concepts into plain English.

Paul Krugman’s MasterClass on economics and society will teach you the core economic concepts that drive our world, how those concepts impact current issues, and how to develop strategies to become a better informed and empowered citizen. His online economics course includes case studies of his works, his process for writing a column, his resources for reliable news and data, and more.

Through 22 video lessons and a customized workbook tailored to each chapter Paul teaches you:
• The principles of economic thought
• How to think beyond bias, slogans, and partisanship
• The basics of international trade
• Debunking myths about taxes
• What’s wrong with the health care market and how to fix it
• How the Fed works and its role in recessions and crises
• What happened in the ‘08 crash
• The impact of China’s rise on the US job market
• How to be an informed and skeptical reader of economics
• His process for writing a column

More from MasterClass:
• David Axelrod and Karl Rove Teach Campaign Strategy and Messaging:
• Bob Woodward Teaches Investigative Journalism:
• Dr. Jane Goodall Teaches Conservation

About MasterClass:
MasterClass makes it possible for anyone to learn from the best. Get inspired with classes from 75+ world-renowned instructors on cooking, photography, writing, performance, and much more. Watch video lessons anytime, anywhere on mobile, desktop, Apple TV, and Amazon Fire TV.

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#MasterClass #PaulKrugman #economics

RSA ANIMATE: Economics is for Everyone!

‘Economics is for everyone’, argues legendary economist Ha-Joon Chang in our latest mind-blowing RSA Animate. This is the video economists don’t want you to see! Chang explains why every single person can and SHOULD get their head around basic economics. He pulls back the curtain on the often mystifying language of derivatives and quantitative easing, and explains how easily economic myths and assumptions become gospel. Arm yourself with some facts, and get involved in discussions about the fundamentals that underpin our day-to-day lives.

Check out our new Citizen’s Economic Council ( for more on what the RSA is doing to make economics accessible to all.

Subscribe to our channel for more amazing animations!

Speaker: Ha-Joon Chang
Animator: Cognitive Media
Producer: Abi Stephenson

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Economics has its own language. This can be confusing. But, to be great economists we need to understand this lanaguage and apply it correctly.

In this video (and part two), I'll define the following terms (in random order):
Weighed down
“Blunt tool”
Tilted to the downside/
Downside risks
Monetary easing
Pick-up in…(inflation,eco growth)
Upward or downward pressure
Crowding out
Soft conditions (‘soft labour market’)
Boom and bust
Inflation targeting regime
Fiscal easing

Questions in the comments!

Opening track is Mr Symonds theme song by Josh Wheatley

Closing track is Aquarius by Cxdy

Economist Richard Thaler wins Nobel Prize

Richard Thaler, whose work influenced the Obama administration and led to a cameo in The Big Short, won the Nobel Prize in economics for his research in the field of behavioral economics.

Annotations of Life by The Economist

The Economist is the leading source of analysis and opinion on international news, politics, business, finance, science and technology every week.

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School Choice; The Next Frontier In Civil Rights | Robert Litan | TEDxICC

This talk examines K-12 reform options with special consideration given to student and teacher choice and charter school options for all regardless of their socioeconomic status.

Robert Litan is a lawyer-economist who has had a four-decade long career in legal practice, as a leading economic analyst and think tank executive, as a foundation executive, an executive in the media business, and service in high-level appointed positions in the federal government. After spending most of his career in Washington and Kansas City, Litan returned in 2014 to Wichita, Kansas, where he is partner with Korein Tillery, a law firm based in St. Louis and Chicago, and an Adjunct Senior Fellow with the Council on Foreign Relations. The author or co-author of 27 books and over 200 articles on a wide range of public policy issues, Litan’s latest books are Trillion Dollar Economists (Bloomberg Press, 2014), The Good Economy (The Kauffman Foundation and Roosevelt Institute, with Bo Cutter and Dane Stangler, February 2016), and Financial Crises and Policy Responses (AEI Press, 2016).Litan is currently on the research advisory board of the Smith Richardson Foundation.

This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at

Economics 102

Rick and Karl conversation during dinner at Sapporo Sushi Factory.



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