Podcast 4 - Professor Claudia Williamson, University of Tennessee at Chattanooga скачать в хорошем качестве

Podcast 4 - Professor Claudia Williamson, University of Tennessee at Chattanooga

In this episode, Professor Claudia Williamson reflects on her intellectual journey — from discovering economics to establishing institutional economics as the core of her research agenda. The conversation then turns to capitalism and the role of institutions, exploring how free enterprise and sound governance shape long-run economic growth. Professor also discusses her own contributions to the literature, emphasizing the complex relationship between culture, government, and institutional performance. The dialogue expands to examine the power dynamics between the United States and China, contrasting a free-market democracy with a one-party autocratic state. We then explore India’s growth trajectory, focusing on the institutions that can strengthen its human capital and sustain development in the decades ahead. The discussion concludes with reflections on representation and diversity in economics — and how broader participation can enrich both the discipline and the socio-political foundations of free-market societies. ---------- Link: https://www.claudiawkramer.com/    / @utcprobascoecon   ---------- Timestamp and Topics Covered 1. Introduction and Growing Up: 00:00 Probasco Chair of Free Enterprise and How growing up in one of America’s poorest states shaped her curiosity about poverty, inequality, and development 2. Discovering Economics: 04:10 Her first economics class as an undergraduate — how it opened up a new way of thinking about human behavior and economic growth 3. Why West Virginia University? 06:00 A candid reflection on her academic journey as a first-generation college student and how she chose her graduate program 4. Mentors: 08:00 influence of Peter Leeson, Chris Coyne, Russ Sobel, and the George Mason School on her approach to economics and research 5. Foundations: 10:20 Tracing the link between Austrian economics, public choice, and new institutional economics, understanding how “rules shape behavior.” 6. Center for Economic Education: 12:00 Promoting economic literacy among school teachers and students 7. Why Teach Economics Early? 14:15 The importance of exposing school students to economics, critical thinking, and the logic of incentives and opportunity cost 8. Understanding Capitalism 17:00 Breaking down misconceptions about capitalism, focusing on private property rights, free choice, and incentives 9. Vocational Training 19:10 Why societies should value trade skills alongside university degrees — bridging the gap between education and employability 10. Institutions and Economic Growth 21:00 A deep dive into why property rights, rule of law, and contract enforcement underpin all successful economies 11. Beauty of the Price System 23:50 Explaining how markets use prices to convey information and promote innovation through creative destruction 12. Institutions in EMEs 26:10 Discussing how institutional development in EMEs may differ from AEs trajectories 13. Individualism vs. Collectivism 27:45 How cultural norms shape economic behavior and why individualistic societies tend to foster innovation and democracy 14. Informal Institutions 30:40 Drawing on her research in Public Choice — how trust, norms, and informal institutions can sometimes outperform formal structures 15. Trust and Cultural Evolution 34:00 How trust, tolerance, and entrepreneurship evolve alongside political and economic institutions 16. Markets and Democracy 36:20 Addressing whether capitalism and democracy can coexist amid rising inequality 17. Rethinking Inequality 39:00 Why inequality of outcomes doesn’t necessarily imply injustice, the difference between zero-sum and positive-sum growth, explaining Inequality to a socialist 18. Political Polarization in the U.S. 43:10 On the perception of a widening gap 19. The U.S.-China Power Struggle 45:10 Examining the nature of competition between the two global powers 20. India’s Role 48:00 India’s economic model aligns closely with the US 21. Strengthening Institutions 51:00 Securing property rights, lower bureaucracy, and open immigration are vital for innovation in India 22. Women in Economics 53:10 Discussing representation, comparative advantage, and removing cultural barriers matters 23. Economic Literacy 56:00 Understanding economics helps citizens demand better policies and safeguard democratic institutions 24. Closing Reflections 58:30 The Value of Ideas and Free Exchange 📌 Connect with Me: ---------- Webpage: https://manharsingh.net/ Contact Me: https://manharsingh.net/contact/ Fellow @ Tando Institute: https://tando.org/fellow-directory/ma... Tando Institute: https://tando.org LinkedIn: / manhar-singh Dialogue With Manhar: / dialogue-with-manhar Academy for Data Sciences: / academy-for-data-sciences Twitter/X: https://x.com/Singh_Manhar1 #Macroeconomics #Institutions #InstitutionalEconomics #ClaudiaWilliamson