Russ Roberts, host of EconTalk and fellow at Stanford University's Hoover Institution, argues that standard trade economics fails to adequately address distributional costs.
“I think it's a bad teacher and a bad economist who says, well, trade creates net benefits, so therefore it's good for the country.”
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More from Russ Roberts
Insight
Roberts: Trade Benefits Future Generations While Harming The Current One
“The biggest benefits from trade take place over longish periods of time. The opportunity for the next generation to come along and use its skills well, but it can be hard on this generation.”
Russ RobertsJan 2, 2019▶ 4:20a16z Podcast | Adjusting to Trade... and Innovation
Opinion
Roberts: Bureau Of Labor Statistics Poorly Adjusts Inflation For Product Quality
“And the Bureau of Labor Statistics isn't particularly good at adjusting for it.”
Russ RobertsJan 2, 2019▶ 27:54a16z Podcast | Adjusting to Trade... and Innovation
PredictionHeld up
Roberts: Taxi Industry Will Not Stop Autonomous Cars In The US
“We're going to get autonomous cars in the United States if the technology works out. I don't think the political power of the taxi cab industry is going to stop it, just like I don't think the hotels can stop Airbnb.”
Russ RobertsJan 2, 2019▶ 37:21a16z Podcast | Adjusting to Trade... and Innovation
PredictionNot checkable as stated
Roberts: Autonomous Vehicles Will Dramatically Reduce Transportation Costs
“One of the impacts of the autonomous car introduction is a dramatic reduction in the cost of getting from here to there. So if you think about a current cab ride or Uber has a huge labor component, and it also has an insurance component, but the cost of gettin…”
Russ RobertsJan 2, 2019▶ 14:28a16z Podcast | Adjusting to Trade... and Innovation
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