Tyler Cowen: Prepare for the Brave New World | Knowledge Project Podcast (Audio)

This conversation is from The Knowledge Project Podcast archives. It originally aired in August 2018.

On this episode with Tyler Cowen, economics professor, author, and creator of the wildly popular blog, Marginal Revolution, we cover many exciting grounds, including advances in technology, thinking about thinking, complacency, and intelligently preparing for an uncertain future.

If you want to upgrade your thinking so you’re prepared for the brave new world that’s rapidly developing before our eyes, you won’t want to miss this fascinating episode.

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00:00 - On Cowen's book "Average is Over" and its implications
06:45 - Cowen's thoughts on virtual vs. in-person experiences
09:15 - What's scarce in today's economy
10:10 - Cowen's predictions about newspapers
11:50 - The idea behind Cowen's book "The Complacent Class"
18:15 - Why we've stopped building physical infrastructure
20:47 - How to prepare for the future
21:55 - How to develop good judgment
24:45 - Cowen's philosophy on parenting
25:44 - Are we becoming more specialized?
27:40 - Cowen's philosophy and tips on reading and learning
34:04 - The work required to have an opinion
38:20 - The real cost of being right
40:31 - How chess shaped Cowen's thinking
43:16 - How would Cowen change education?
44:07 - Why does Cowen only watch one TV show?
44:46 - Cowen's "quake-movies"
46:39 - Long-term effects of interest rates near-zero
49:00 - How minimum wage increase impacts society
51:05 - Where will the money go for returns in the future?
52:00 - Cowen's thoughts on Bitcoin

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ABOUT THE KNOWLEDGE PROJECT
Like the mentor you’ve always dreamed of having, The Knowledge Project shares timely yet timeless lessons for work and life. Past guests include Naval Ravikant, Daniel Kahneman, Jim Collins, Angela Duckworth, Seth Godin, Melanie Mitchell, & Esther Perel.

[VishnuS]

Multidisciplinary KnowledgeBase.. And moreover a balanced Life when TV shows and Movies came into picture.. I personally love the Westworld show. It's been a haunting experience for me. Moved by Bitcoin as an Asset Class, VR, productive games etc.

It was a nice experience for me and a great podcast.. Thankyou FS

[amatingmind]

"You can't just put slop out there anymore." Has this guy seen television recently? The shows he uses as examples of good ones - Sopranos, The Wire - are over 20 years old.

[DougBow]

Excellent 👍

I disagree with Tyler on one point. As an employer in one of the highest minimum wage states, increased minimum wages do not lead to increased output. More of an entitlement mentality. All it does is increases the farmer's expenses for poor performing workers which must be passed on to the consumer somehow. Farmers are price takers not price makers. Good performing workers have always been paid well above minimum on my farm. Let the market decide wages please.

[rkrable]

Having Qdoba and listening this = Best!

[merlepatterson]

Even in 5 years, Tyler might be shown to have misjudged the future of outcomes for social classes. With the exponential advancments in tech, those who are currently working in tech, may find themselves as slave/servants in service of its maintenance, rather than the arbiters controlling it? And when the proverbial SHTF, one would be well-advised to maintain close friendships with those who can opoerate a screwdriver and hammer and can build, repair and modify physical goods over those who can efficiently bang out 70 WPM while coding.,

[harikrishnanu]

watch movies from south side of india especially from malayalam

[peacelove]

This guy is leaving out an HUGE section of jobs…TRADE JOBS….Plumbers, electricians, construction, lawn care, pools etc etc etc… PHYSICAL trades will ALWAYS be needed…and are in EXTREMELY SHORT SUPPLY RIGHT NOW! For every 5 plumbers who retire for instance, there are ONLY 2 to replace him/her…. People like this guy is coming out with info that doesn’t even include half the population…. “Smart people” do not always have common sense.