In this episode, Murphy and James Heckman, Henry Schultz Distinguished Service Professor of Economics at the University of Chicago, delve into the topic of human capital, focusing on how both education and early home life play a defining role in the development of a child, and talk about how the economics toolkit is influencing the work of social scientists outside the discipline.

Discussion Section with Kevin Murphy and James Heckman

The Becker Friedman Institute for Economics at the University of Chicago (BFI) serves as a hub for cutting-edge analysis and research across the entire UChicago economics community to uncover new ways of thinking about the field. Featuring conversations and lectures from premier BFI events, this podcast explores the latest economic insights and trends from leading voices in policy, business, the media, and academia, revealing how rigorous thinking shapes our understanding of the world.

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The U.S. government swung into action when the ranks of the pandemic unemployed swelled almost beyond recognition. Three years on, economists are continuing to study the effects of the largest increase in unemployment benefits in U.S. history. The Harris School of Public Policy’s Peter Ganong and Chicago Booth’s Joseph Vavra join The Pie to discuss the impacts on spending and job-finding.

Lessons from Pandemic Unemployment Benefits: When Government Generosity Becomes Necessity

How much effect do government policies have on doctors’ wages? And when those wages are high, does it drive inequality in other jobs? And how does Taylor Swift factor in? Or Beyoncé? Joshua D. Gottlieb of the Harris School of Public Policy joins The Pie to discuss his research using detailed data to study earnings and how they’re influenced by forces like public policy and rising inequality.

The Hidden Economic Forces That Determine How Much You Earn

When the Los Angeles Unified School District combined some neighborhood high schools into Zones of Choice, schools had to compete for students. The result? Achievement gaps narrowed, and more kids reported that they liked school. Chris Campos of Chicago Booth joins The Pie to discuss the results of a new study.

A Case for Public School Choice? Lessons from Los Angeles

The use of cryptocurrency is on the rise, but who exactly is on the bandwagon? Chicago Booth’s Michael Weber has examined the crypto market – who’s in it, why they believe in it, and what it might mean for the future. He joins The Pie to share the surprising (and also unsurprising) findings.

Do You Even Crypto, Bro?

Many, if not most, citizens of working age have gone back to their jobs in the three-plus years since the start of the pandemic – but not everybody has. Part of the reason is a lingering fear about workplace safety. Chicago Booth’s Steven Davis has new research showing the effect of these fears on the overall economy.

Discussion Section with Kevin Murphy and James Heckman

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