Valve Economist on EconTalk

Economist Russ Roberts runs EconTalk, a rather cool series of podcasts on edgy topics in economics. These are the guys who brought you the Keynesian-Monetarist rap debate. What's not to love? Well, they've got a great interview with Valve's economist Yanis Varoufakis.

It's important for non-specialists to be aware that Econ is having problems right now. Different people point to different issues, and they point in different ways forward. From my brief interactions with Dr. Varoufakis, I'm convinced that he's pointing in a good direction and is very much worth listening to. Perhaps the most exciting thing about him is his career choice. At Valve, he can do economic science however he wishes. I can almost guarantee that good stuff will result.

Now, how to get Valve to tell the rest of us about it....?

Comments on Valve Economist on EconTalk:

Jared Imbler says:

Ronald Coase has an opinion along the same lines as Dr. Varoufakis.

Saving Economics from the Economists

We often forget that economics is ultimately the study of *human* choices. We can muddy the water with complicated mathematics, but that will just marginalize the field. I'm not saying that mathematics isn't important, but we need to be able to explain and apply our results to the real world (or virtual world). We should keep in mind that knowledge seems to have little use without application.

Dr. Castronova- As a side note, are you familiar with any economists using the Minecraft engine for economic research? While not nearly the audience of Valve/Steam or EVE online, modding the game is straightforward, and you could set up some exciting environments for players to interact in.

Posted Mar 4, 2013 3:21:25 PM | link

Edward Castronova says:

Minecraft is the bomb. I don't know of anyone using it right at the moment, but if I were a PhD student...

Posted Mar 4, 2013 3:23:32 PM | link