An economist walks into a bar | Robert Litan | TEDxKC

This talk was given at a local TEDx event, produced independently of the TED Conferences. Litan's talk explores the surprising role economists have played in the development of the internet economy -- and quite possibly your love life.

As an economist and attorney, Litan has had nearly four decades of experience in the worlds of the law, economic research and policy, and as an executive in the private, public and government sectors. He has directed economic research at three major organizations – The Brookings Institution, The Kauffman Foundation and Bloomberg Government – and authored or co-authored 27 books on a variety of economic topics. His most recent book, “The Trillion Dollar Economists,” will be published by Wiley Press this September.

Litan currently is a non-resident senior fellow at Brookings; counsel to Korein Tillery, a law firm based in St. Louis and Chicago specializing in large case litigation; chief economist at Main Street Genome, a D.C.-based startup providing financial analytics to small businesses; and a regular contributor to the Think Tank blog published by The Wall Street Journal.

About TEDx, x = independently organized event In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

[ashneelram]

I am a economics student. studying for my exam right now
I needed a motivational speech
And this one was the best

[liberty-matrix]

*"The curious task of economics is to teach a man how little he knows about what he imagines he can design."* *_- Friedrich Hayek_*

[LaShawnLatera]

Proud to be an economist! :) WEEE!! Respect!!

[econartist]

Artificial scarcity is an interesting notion. I would agree that when I introduce a self imposed constraint on how I spend my time, it ends up helping me be way more productive. I used to do this a lot with school work. I would often procrastinate while doing school work so creating a deadline for how long I would study would provide me a stronger bang for my minute of studying. Cool video and ted talk!

[apituraga]

I have always wondered why we have so many people learning Economics and so little Economists!!

[rudyperez]

Economics (/ɛkəˈnɒmɪks, iːkə-/) is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.

[mikecremona]

So econommists
(smack)
They economize
(smack)

[brennanconway]

Anyone else think his shirt is way too big?

[tyndni]

great speaker, made the topic really interesting.

[CyanideShock]

Most of what he was explaining is behavioural economics which plays a key part in much of our lives; i would suggest anyone interested in this field and how it has come to prominance over the more mathematical based economics read 'MisBehaving' by richard thaler.

[jameschapman]

I still don't understand why the idea of government intervention is seen as bad. With airlines themselves being in an oligopolistic market surely without the use of government intervention price fixing cartels will/have formed leading to this market which should be competitive to acting as though it is a monopoly. Additionally if the market itself was seen as contestable, William Baumol himself even said that contestable markets do not act as though competitive. Due to consumers needing time to respond to a new firm entering the market at a lower price the idea of perfect contestability is about as realistic as perfect competition.

[dhickoxiraq]

I work for a major delivery company in the United States. one of the biggest reasons they do have regulations for the Trucking industry is safety. from tires to breaks horns, lights, and to have a predictable route. it sounds dumb but it's very important. Life Safety is very important!

[dannygomez]

Not gonna lie, the way he said "I think economists deserve some respect" made me want to pay up some respect

[smujismuj]

This whole talk is thoroughly contained within the notion that the Market is a humane and healthy way of dealing with resources and human interaction.

[darthjay]

Ideas shape the course of history.
~John Maynard Keynes.
economist
1883 - 1946

[sorsocksfake]

The great miracle in online advertising has really been though, finding a way that people actually click on those things.

[AetheriusLamia]

Poor video title. Please change it "Why Respect Economists".

[LungteNangram]

Amazing presentation! It's sad how Economics has a subject is very underrated

[conoroflynn]

I did a Masters in Economics terrific subject very interesting but very hard to get a job exactly in that area.Economists jobs few available . A lot in up in banks etc but not related to Economics

[diptidixit]

Wow… that made my day… old ted talks are much much intelligent…