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" I see three forces militating in favor of growing inequality: increasing measurement of worker value added, automation through smart software, and globalization. "
Tyler Cowen
Automation
Value
Globalization
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" We will be returning to historical levels of inequality. We'll view post-war America as a kind of strange interlude not to be repeated. It won't be the dreams that we all had that virtually all incomes go up in lockstep at three percent a year. It hurts to give that up. "
Tyler Cowen
View
Dreams
Inequality
" What the banking system needs is creditors who monitor risk and cut their exposure when that risk is too high. Unlike regulators, creditors and counterparties know the details of a deal and have their own money on the line. "
Tyler Cowen
Line
Own
Money
" When I hear people express extreme optimism about the Internet, I say, we've had it in mature form for about ten years. Macroeconomically speaking, those are about the worst 10 years we've had since about the 1930s. I don't blame the Internet for that - that would be ridiculous. "
Tyler Cowen
Say
Optimism
Blame
" I've been a foodie most of my life. I started when I lived for a year in Germany in my early 20s, and here was this new food environment, and I decided I needed to make sense of it. And I found it was the rules of economics that do the best job. Food is a capitalist product of supply and demand. "
Tyler Cowen
Rules
Life
Food
" I think as individuals, people overrate the virtues of local food. Most of the energy consumption in our food system is not caused by transportation. Sometimes local food is more energy efficient. But often it's not. The strongest case for locavorism is to eat less that's flown on planes, and not to worry about boats. "
Tyler Cowen
People
Think
Eat
" Look at electricity in human history - it took a few decades for electricity to really revolutionize the American economy. And the Internet will be the same. At some point in the future, we will arrive at a new era of low-hanging fruit. "
Tyler Cowen
Fruit
American
Look
" In the early stages of negotiation software, on your smartphone, there may be programs that listen to the pitch of a voice, or that test for stress. You'll just ask the program, 'Was he lying? Was he eager to do business with me?' Maybe the computer will be right sixty per cent of the time. "
Tyler Cowen
Me
Business
Voice
" France has not only built a bureaucratic barrier against American culture, it has constructed a notorious intellectual case against it as well. The French spend hundreds of millions of dollars subsidizing film production, extend interest-free loans to designated filmmakers, and have placed quotas not only on imports but on television time. "
Tyler Cowen
American
Time
Television
" For the U.S., I think we should have a carbon tax, for environmental reasons. "
Tyler Cowen
Carbon
Think
Tax
" Vietnamese food has probably been saved from the mass market because most people never master the sauces and condiments that must be added to the food, at the table, for its glories to become apparent. It's too much trouble, and a lot of people don't like asking for help, especially if the interaction involves some linguistic awkwardness. "
Tyler Cowen
Food
People
Trouble
" In most of the world, breakfast is an important meal. "
Tyler Cowen
Breakfast
Meal
Most
" I'm a pessimist about the euro, but not about Europe. So the southern periphery, Spain, Italy, Greece, leave - Italy might be the first to go - and the rest stay. That will work just fine. But unless they want to give up democracy, I don't see greater fiscal union as the answer. "
Tyler Cowen
Rest
Work
Want
" I sometimes say I am a 'happiness optimist' but a 'revenue pessimist.' "
Tyler Cowen
Say
I Am
Happiness
" There's so much free material on the Internet you can learn from, and some people are pure self-starters: they pick up computers and teach themselves everything. Certainly there are millions of people like that. But at the same time, I think it's a pretty small percentage of the population. "
Tyler Cowen
Computers
People
Time
" The 'low' quality of many American films, and of much American popular culture, induces many art lovers to support cultural protectionism. Few people wish to see the cultural diversity of the world disappear under a wave of American market dominance. "
Tyler Cowen
People
Culture
Art
" To get anything done, Obama has to be seen as having winning economy - which isn't easy. "
Tyler Cowen
Anything
Economy
Winning
" Throwing more science at things isn't always the answer. "
Tyler Cowen
Always
More
Science
" Economics is sometimes associated with the study and defense of selfishness and material inequality, but it has an egalitarian and civil libertarian core that should be celebrated. "
Tyler Cowen
Sometimes
Study
Economics
" Most of us are not pure self-starters; most people need role models, they need coaches, they need exemplars, they maybe need some discipline or some rewards. We need to be motivated. "
Tyler Cowen
Pure
Discipline
Need
" Often, economists spend their energies squabbling with one another, but arguably the more important contrast is between our broadly liberal economic worldview and the various alternatives - common around the globe - that postulate natural hierarchies of religion, ethnicity, caste and gender, often enforced by law and strict custom. "
Tyler Cowen
Important
Gender
Law
" Economists love to talk about incentives, but the bottom line is that people hate being controlled or manipulated, even when done through voluntary institutions. This is one of the most important tensions in capitalism. "
Tyler Cowen
Done
Hate
Love
" Countries with lots of unmarried young men are the most vulnerable to sudden upheavals - this is what fueled the Arab Spring. "
Tyler Cowen
Most
Spring
Men
" We're seeing an enormous amount of global upward mobility that's quite rapid and quite sudden, and undiscovered individuals have a chance - using the Internet, using computers - to prove themselves very quickly. So I think the mobility story will be a quite complicated one. "
Tyler Cowen
Story
Chance
Computers
" Some Google employees have their self-driving vehicles take them to work. These car robots don't look like something from 'The Jetsons'; the driverless features on these cars are a bunch of sensors, wires, and software. This technology 'works.' "
Tyler Cowen
Employees
Work
Car
" In chess, computers show that what we call 'strategy' is reducible to tactics, ultimately. It only looks creative to us. They are still just glorified cash registers. This should make us feel uncomfortable, whether or not we think computers will ever be good composers of music or artistic painters. "
Tyler Cowen
Computers
Good
Music
" We need to accept the principle that sometimes poor people will die just because they are poor. "
Tyler Cowen
Accept
People
Sometimes
" A bad or mediocre meal is more than just an unpleasant taste, it is an unnecessary negation of one of life's pleasures - a wasted chance to refine our palates, learn about the world, and share a rewarding experience. "
Tyler Cowen
Life
Experience
Bad
" Presidents always want to do nice, noble, long-run things, and Congress is less keen to do so. We've seen that throughout the history of this country. "
Tyler Cowen
Congress
Want
Country
" The iPhone is made on a global scale, and it blends computers, the Internet, communications, and artificial intelligence in one blockbuster, game-changing innovation. It reflects so many of the things that our contemporary world is good at - indeed, great at. "
Tyler Cowen
Intelligence
Good
Great
" A lot of local food is very tasty. I'm very happy to eat it. I just don't think it's the same thing as saving the world. "
Tyler Cowen
Food
Eat
Happy