An Immigrant Economist Explores the Land of Inequality

Economics Nobel laureate Sir Angus Deaton discusses his latest book, Economics in America, which takes an autobiographical approach to how the field of economics addresses the most pressing issues of our time-from poverty, retirement, and the minimum wage to the ravages of the nation’s uniquely disastrous health care system.

[@skmed1983]

@58:00, yeah this is a point of discussion that we all seem to miss when speaking on the current socioeconomic state of the world. In the US in particular. We fail to address how shifting to this rational, materialist, efficient model has dropped the bottom out of basic human structures. Human beings, and by extension the structures we build...communities being one of them, are inefficient. The sturdiest structures we know, the best creations we've made, the best art, music, and the most lasting thoughts and ideas we've had didn't come about via "efficiency". Mostly our sturdiest and most durable products were tried and tested over time. Humans are creative beings, whether or not the individual believes they are. But it is in our necessity to create and build. Unfortunately though, creativity is an inefficient process. Driving to remove those inefficiencies at all costs has pushed us to discard our humanity in a sense. When we move to quickly and quantitatively resolve an issue, we tend to force more issues caused by unintended consequences. This again because we failed to take the time to weigh all potential outcomes and variables...This, like a work of art leaves room for error, or, in software as another analogy, more bugs in the system.

[@festrada03]

Una excelente conversación. Angust Deaton es uno de nuestros mejores intérpretes de la economía de las desigualdades. Su grandeza en nuestro tiempo es incomparable. Tiene la tradición de sus mayores en Edimburgo, Sir Adam Smith

[@joshuamatkin8306]

My issue is that the USA wants to get all of its resources dirt cheap from all these foreign sources, and also wants to take advantage of the lack of labor regulations to get these cheaper goods imported but we want to be picky in accepting people in and restrict/apply quotas. And than we want to punish people illegal coming in from impoverished and violent countries in hopes of a better future. We need to get our priorities straight on what we stand for and get away from this tribalism and fear mongering.

[@jackbeagle8458]

Thanks for the articulate comment, it’s something I’ve thought about over the years, efficiency is not the point of a human existence.

[@joshuamatkin8306]

@@jackbeagle8458 I agree and thanks.

[@onlinenaturals4582]

​@@jackbeagle8458q

[@Buddfox]

That’s a flawed analysis. American taxpayers and citizens need to be respected by strong borders.
Many countries benefit in kind from American peace. If Israel 🇮🇱 did not have US support it’d already be a bloodbath there.

[@nicholaslogan7232]

Amazing video! Despite the economic downturn, I still manage to make $35,000 every 10 days after investing $3,500..God bless Expert Michael Allen

[@janetfreeman2300]

HOW! I would really appreciate if you show me how to go about it. Please can you list the platforms ?

[@doroteasilva]

Same here, I started with $3,000 now earning $28,300 bi-weekly profits with his trading program. He's really amazing i still cannot believe someone can be this exceptional when it comes to Bitcoin activities.

[@jonathandyes]

I’m from the UK 🇬🇧 I’ve been trading with Mr Michael Allen for a year and he has proven to be trusted and the best broker. I strongly recommend him

[@breathless3693]

He's a great personality in the state 🇺🇸 I'm also earning from him.

[@AndreWilliams131]

I will advice you find a good crypto trader like Mr Michael Allen , that will help you through