What’s the “MIT” approach to economics, and what’s wrong with it? Is economics a hard science? What is an economic model? What are some of the problems with thinking of the world this way?

Arnold Kling claims that the economy isn’t like one big machine with a single purpose that can be fine tuned and regulated by experts. In this week’s episode, he presents an alternate way of thinking about economics, one you won’t find being taught in most college classrooms.

Show Notes and Further Reading

Kling’s new book, Specialization and Trade: A Re-introduction to Economics is available in paperback and as a free .pdf, Kindle, or .epub file.

Kling and Burrus mention one of our recent Free Thoughts episodes with Thomas Leonard on his book, Illiberal Reformers: Race, Eugenics, and American Economics in the Progressive Era.

Hosted on Acast. See acast.com/privacy for more information.