Macroeconomics
Listen to Russ Robertâs talk with Paul Romer And answer the questions.
1. Why is growth important?
2. Is there a âmoralâ component to growth? In other words, is growth âgoodâ?
3. Why is China growing fast?
4. Why did (is) the US grow(ing) faster that the UK?
5. Do we âneedâ to be the leader in every (or any) technology?
6. Contrast what could be called the âeconomics of ideasâ with the âeconomics of physical stuff.â
7. Does Romer prefer the word âproduceâ or ârearrange?â Explain.
8. What did Romer say about the Soviet Union and diminishing returns?
9. Why are new ideas (and more people looking for new ideas) important?
10. Why do market economies outperform planned economies?
11. âEveryone favors growth but rejects change.â Comment
12. Why is there no âtragedy of the commonsâ in ideas?
13. What is the difference between property rights for an idea and property rights for, say, land?
14. How do we provide both efficiency in the realm of ideas and give people an incentive to create them?
Why might there be a conflict?
15. Many people think that workers for multinational corporations in developing countries are exploited.
(The worker in a Nike shoe factory, for instance.)Â What does Romer say about this?
16. Many people think that a pair of 150 Nikes made by someone who is poor compared the buyer of the shoes
represents a horrible immoral thing in our society. What does Romer say about this?
17. Do 200,000,000 Indian business people, scientists, and engineers threaten you?
18. Why is free trade so important?
19. Should we be optimistic?
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