Uploaded October 2024 | Updated September 2026, 58 minutes ago

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This week on Econ 102, Noah Smith and Erik Torenberg tackle the shift in economic research from empirical studies to "big think" theories, critically examine Acemoglu's work on institutions and AI's impact on jobs, and debate the future of economics as a science. Automate sales tax compliance with Anrok, trusted by Notion, Anthropic and Vanta. Visit anrok.com/turpentine to claim your free nexus study.

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SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co

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FOLLOW ON X:
@noahpinion
@eriktorenberg
@turpentinemedia

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LINKS:

Noahpinion: https://www.noahpinion.blog/
Why Nations Fail: en.wikipedia.org/wiki/Why_Nations_Fail

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TIMESTAMPS:
(00:00) Intro
(01:14) Shift in economic theories
(07:16) Influence of economic theories on practice
(10:10) Acemoglu's contributions and skepticism
(12:09) Why Nations Fail: A Deep dive
(12:52) Sponsors: GiveWell | Netsuite
(15:03) Evaluating institutional theories
(23:01) Hayek's market theories in an AI world
(25:06) Debating AI and automation
(28:23) AI's Impact on employment
(29:43) Power and Progress
(30:13) Sponsors: Weights & Biases | Anrok | Carta
(33:11) Impact of technology on job creation
(37:20) Macroeconomic impact of AI
(42:08) Economics: Big think vs. Humble work
(46:13) Wrap