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Yeah, you know, there's a difference between the textbook world that economists like to imagine, an
Yeah, you know, there's a difference between the textbook world that economists like to imagine, an
Yeah, you know, there's a difference between the textbook world that economists like to imagine, an
Yeah, you know, there's a difference between the textbook world that economists like to imagine, an
Yeah, you know, there's a difference between the textbook world that economists like to imagine, an
Yeah, you know, there's a difference between the textbook world that economists like to imagine, an
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Paul Romer:
An economy can survive with 10% of the population insolation. It can't survive when 50% of the popuPaul Romer:
If we collectively set our minds to improving technology of a particular type we can do that, and iPaul Romer:
But if we set our minds to improving technology, we can improve it in a direction that seems importPaul Romer:
Well, one of the things I should tell you is that if you look at the very long sweep of history whaPaul Romer:
But when I think about, say, a pharmaceutical that might help keep my mind sharp in 20 years or 30Paul Romer:
The economy is this huge innovation discovery machine. What the government can do usefully is to foPaul Romer:
Fracking is an amazing instance of discovery of many things that come together to make it much cheaPaul Romer:
There are new things we need to do in the labor market, in education, and in thinking about the futPaul Romer:
One of the most powerful insights in economics is this idea of a division of labor. You do the thinPaul Romer:
Unfortunately, we don't have a bankruptcy process. Suppose the state actually just gets to the poin