Summary
In this podcast episode, the host interviews economist and author Steve Levitt. Levitt discusses his academic journey and how he became interested in economics by chance. He also explains the difference between micro and macro economics and how the analysis of data has become increasingly important in the field. Levitt believes that economics is at a crossroads and that the sensible way to approach it is to make a sharp distinction between data and theory. He also discusses the importance of finding a cost-effective solution to climate change and suggests a "Manhattan Project" for climate change. The conversation also touches on the controversial theory that abortions lead to less crime and the success of Levitt's book "Freakonomics."
The speaker also discusses their personal experiences with mental health and self-care, including their daughter's eating disorder and their own approach to radical acceptance after their son's death. They believe that mental health and self-care should be a priority in education and that it is important to raise well-adjusted children. The speaker also talks about their love for horse racing and their fantasy of training a horse using ultramarathon runner techniques.
The conversation shifts to the limitations of randomized controlled experiments in economics and the missed opportunities in using natural experiments to learn more about COVID-19. Levitt proposes the idea of offering large sums of money to incentivize people to participate in medical experiments and organ donation, and how this could potentially solve some of the ethical issues surrounding these practices. The conversation ends with a discussion on creating a market for live organ donors. Overall, the podcast episode covers a wide range of topics, including economics, climate change, mental health, and medical ethics.
