Macroeconomics

Listen to Russ Robert’s  talk with  Paul  Romer  And answer the questions.

1.  Why is growth important?

2.  Is there a “moral” component to growth?  In other words, is growth “good”?

3.  Why is China growing fast?

4.  Why did (is) the US grow(ing) faster that the UK?

5.  Do we “need” to be the leader in every (or any) technology?

6.  Contrast what could be called the “economics of ideas” with the “economics of physical stuff.”

7.  Does Romer prefer the word “produce” or “rearrange?” 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. “Everyone favors growth but rejects change.” Comment

12. Why is there no “tragedy of the commons” 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.)  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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