Tyler Cowen
Tyler Cowen
Tyler Cowenis an American economist, academic, and writer. He occupies the Holbert C. Harris Chair of economics, as a professor at George Mason University, and is co-author, with Alex Tabarrok, of the popular economics blog Marginal Revolution. Cowen and Tabarrok have also ventured into online education by starting Marginal Revolution University. He currently writes the "Economic Scene" column for the New York Times. He also writes for such publications as The New Republic, the Wall Street Journal, Forbes, Newsweek, and...
NationalityAmerican
ProfessionEntrepreneur
Date of Birth21 January 1962
CountryUnited States of America
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I think as individuals, people overrate the virtues of local food. Most of the energy consumption in our food system is not caused by transportation. Sometimes local food is more energy efficient. But often it's not. The strongest case for locavorism is to eat less that's flown on planes, and not to worry about boats.
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If we want to improve American food and make it much cheaper, we should deregulate the food trucks and the other street vendors, provided they meet certain sanitation standards. Many cities have already moved down this path, and people are not keeling over with salmonella.
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I've been a foodie most of my life. I started when I lived for a year in Germany in my early 20s, and here was this new food environment, and I decided I needed to make sense of it. And I found it was the rules of economics that do the best job. Food is a capitalist product of supply and demand.
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Vietnamese food has probably been saved from the mass market because most people never master the sauces and condiments that must be added to the food, at the table, for its glories to become apparent. It's too much trouble, and a lot of people don't like asking for help, especially if the interaction involves some linguistic awkwardness.
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A lot of local food is very tasty. I'm very happy to eat it. I just don't think it's the same thing as saving the world.
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I think higher ed in the U.S. is fairly healthy, and by global standards it dominates, and it makes people more productive. But a lot of our K-12 is a disaster. And the single most important reform would just be to fire the worst ten or 15 percent of teachers in the lot, and we would have massive improvements.
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Some Google employees have their self-driving vehicles take them to work. These car robots don't look like something from 'The Jetsons'; the driverless features on these cars are a bunch of sensors, wires, and software. This technology 'works.'
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I think people who are not rich can be extremely happy. And I think the chances to be happy in this new world - with many more opportunities to be creative, to be online, to educate yourself - there'll be a lot more chances to be happy. It's not to say everyone will take them, but there will be a lot of new paths to opportunity.
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In truth, it's not the shareholders of the American International Group who benefited most from its bailout; they were mostly wiped out. The great beneficiaries have been the creditors and counterparties at the other end of A.I.G.'s derivatives deals - firms like Goldman Sachs, Merrill Lynch, Deutsche Bank, Societe Generale, Barclays and UBS.
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Look at electricity in human history - it took a few decades for electricity to really revolutionize the American economy. And the Internet will be the same. At some point in the future, we will arrive at a new era of low-hanging fruit.
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After aircraft production, the entertainment industry is America's largest source of trade surplus.
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Countries with lots of unmarried young men are the most vulnerable to sudden upheavals - this is what fueled the Arab Spring.
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For the very top earners, vision and inspiration are essential. You need those to become the next Steve Jobs, but perhaps not to be the highest paid dentist in Beverly Hills.
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In chess, computers show that what we call 'strategy' is reducible to tactics, ultimately. It only looks creative to us. They are still just glorified cash registers. This should make us feel uncomfortable, whether or not we think computers will ever be good composers of music or artistic painters.