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" Throwing more science at things isn't always the answer. "
Tyler Cowen
Always
More
Science
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" After aircraft production, the entertainment industry is America's largest source of trade surplus. "
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" Buying from a local farmer can mean that he makes a two-hour extra truck drive, which can damage the environment more than a bunch of bananas on a boat. "
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" 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
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" Sports is remarkably cognitive. I think it's underrated just how smart it is. Actually, if I had more time, I would spend more time with sports. Watching it, reading about it, I think it's oddly underrated. "
Tyler Cowen
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" Everything will have a Yelp review. And if you're a worker, there will be like credit scores. There already are to some extent. How reliable are you? How many jobs have you had? Have there been lawsuits filed against you? How many traffic tickets? "
Tyler Cowen
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" 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
" 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
" We need to accept the principle that sometimes poor people will die just because they are poor. "
Tyler Cowen
Accept
People
Sometimes
" 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
" 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 sometimes say I am a 'happiness optimist' but a 'revenue pessimist.' "
Tyler Cowen
Say
I Am
Happiness
" Most restaurants in most cities, including Washington, are at a sort of mid-level. They're somewhat trendy, or they have some sort of gimmick, or they're somewhat expensive. And they make a lot of money off drinks. I tell people don't go to most of them, unless your goal is just to socialize. "
Tyler Cowen
Tell
People
Money
" 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
" Real cultural diversity results from the interchange of ideas, products, and influences, not from the insular development of a single national style. "
Tyler Cowen
Diversity
Style
Results
" 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
" What I would like to vote for is a candidate that is socially liberal, a fiscal conservative, broadly libertarian with a small 'l' but sensible and pragmatic and with a chance of winning. That's more or less the empty set. "
Tyler Cowen
Chance
Vote
Winning
" In truth, it's not the shareholders of the American International Group who benefited most from its bailout; they were mostly wiped out. The great beneficiaries have been the creditors and counterparties at the other end of A.I.G.'s derivatives deals - firms like Goldman Sachs, Merrill Lynch, Deutsche Bank, Societe Generale, Barclays and UBS. "
Tyler Cowen
Truth
Great
End
" When humans team up with computers to play chess, the humans who do best are not necessarily the strongest players. They're the ones who are modest and who know when to listen to the computer. Often, what the human adds is knowledge of when the computer needs to look more deeply. "
Tyler Cowen
Know
Best
Computers
" Economics evolved as a more moral and more egalitarian approach to policy than prevailed in its surrounding milieu. Let's cherish and extend that heritage. The real contributions of economics to human welfare might turn out to be very different from what most people - even most economists - expect. "
Tyler Cowen
Economics
Heritage
Moral
" 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
" 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
" I think people who are not rich can be extremely happy. And I think the chances to be happy in this new world - with many more opportunities to be creative, to be online, to educate yourself - there'll be a lot more chances to be happy. It's not to say everyone will take them, but there will be a lot of new paths to opportunity. "
Tyler Cowen
Opportunity
Happy
Yourself
" In most of the world, breakfast is an important meal. "
Tyler Cowen
Breakfast
Meal
Most
" 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
" 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
" If you and your skills are a complement to the computer, your wage and labor market prospects are likely to be cheery. If your skills do not complement the computer, you may want to address that mismatch. Ever more people are starting to fall on one side of the divide or the other. That's why 'average is over.' "
Tyler Cowen
You
Skills
People
" 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
" If we want to improve American food and make it much cheaper, we should deregulate the food trucks and the other street vendors, provided they meet certain sanitation standards. Many cities have already moved down this path, and people are not keeling over with salmonella. "
Tyler Cowen
Street
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" At least in the United States, most economic resentment is not directed toward billionaires or high-roller financiers - not even corrupt ones. It's directed at the guy down the hall who got a bigger raise. It's directed at the husband of your wife's sister, because he earns 20 percent more than you do. "
Tyler Cowen
You
Down
Husband
" For the very top earners, vision and inspiration are essential. You need those to become the next Steve Jobs, but perhaps not to be the highest paid dentist in Beverly Hills. "
Tyler Cowen
Inspiration
Need
Vision