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Thought To Ponder

There is no reason to believe that bureaucrats and politicians, no matter how well meaning, are better at solving problems than the people on the spot, who have the strongest incentive to get the solution right.
Elinor Ostrom (Nobel Prize Winner)
[ Economy Education Government International Taxes Trade Audio & Video ]
 Audio: Professor Russ Roberts on Economics at the Mercatus Center 
2 January 2012
Russ Roberts

In the following holiday dinner talk at the Mercatus Center, Professor Russ Roberts explores how complexity pervades economics in a keynote address that touches on the battle of ideas between Keynes and Hayek, the difficulty of making macroeconomic predictions, and the influence of bias and ideology on economics.

The address is posted here with the kind permission of Dr. Roberts, Professor of Economics at George Mason University, blogger at Cafe Hayek and host of EconTalk at The Library of Economics and Liberty.

Please give the audio file a minute or so to load up.

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