Alex Tabarrok is a professor of economics at George Mason University and with Tyler Cowen a founder of the online education platform http://MRU.org.
I ask Alex Tabarrok about the Grand Innovation Prize, the Baumol effect, and Dominant Assurance Contracts.
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Alex Tabarrok's and Tyler Cowen's excellent blog: https://marginalrevolution.com/
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Timestamps:
( 00:00 ) - Intro
( 00:34 ) - Grand Innovation Prize
( 08:45 ) - Prizes vs grants
( 14:10 ) -Baumol effect
( 27:50 ) - On Bryan Caplan's case against education
( 31:35 ) - Scaling education online
( 48:50 ) - Declining research productivity
( 52:15 ) - Dominant Assurance Contracts
( 58:40 ) - Future of governance
( 1:04:05 ) - On Robin Hanson's Futarchy
( 1:06:02 ) - Beating Adam Smith
( 1:08:35 ) - Our Warfare-Welfare State
( 1:19:30 ) - The Great Stagnation vs The Innovation Renaissance
( 1:21:40 ) - Advice to 20 year olds
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