After aircraft production, the entertainment industry is America's largest source of trade surplus. Tyler Cowen aircraftamericaentertainment Change image and share on social
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 bankcounterpartycreditor share on social
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 cognitiveoddlyread share on social
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 computerfreeinternet share on social
I think a lot of people will be liberated from a lot of oppressive manufacturing jobs, or a lot of service jobs, because they'll be done by computers. There'll be the world's best education available online and free. Tyler Cowen computereducationfree share on social
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 businesscentcomputer share on social
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 alternativearguablybroadly share on social
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 20scapitalistdecide share on social
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 citydrinkexpensive share on social
When you look at the actual data on technological innovation, one thing you see is that what I call the 'low-hanging fruit' has been exhausted. So radio, flush toilets, electricity, and automobiles - a lot of very basic inventions - have spread to almost all households. Tyler Cowen actualautomobilebasic share on social