EJW Audio

“Central Banking Research Is Increasingly Directed to Environment, Inequality, Gender, and Race” — say Radu Şimandan and Cristian Valeriu Păun in a recent Econ Journal Watch article. Besides documenting the trend, they say it represents a further corruption of public institutions. “It is important to safeguard against mission creep, as an unchecked concentration of public power risks the same dangers of overreach and inefficiency traditionally associated with monopolistic power.”

Magnus Henrekson and collaborators have produced three important books exposing the fraudulence of Europe’s green projects and policies. He explains why the fraud persists despite the obviousness of its fraudulence. Two of the books have been treated in Econ Journal Watch, one review essay by one review essay by John Constable and one by one review essay by Michael Munger, who kindly conducted this interview for EJW.

An influential article by Jonathan Pekar and 28 other authors published in Science in 2022 claimed that Bayesian analysis of the molecular phylogeny of early SARS-CoV-2 cases indicated that the likelihood that two successful introductions to humans had occurred was greater than the likelihood that just one had occurred. Michael Weissman explains his EJW article, which discusses a fundamental error hiding in plain sight and initially pointed out by Angus McCowan. Weissman uses a simple analogy to explain the error. Correcting the error using the data, model, and simulations of the original paper reverses the implication of the analysis-the single-introduction likelihood becomes greater than the two-introductions likelihood. That undermines the article’s supposed support for natural origin. Weissman is interviewed by James M. Robins of Harvard University. Weissman and Robins discuss the editorial practices at Science, which, they suggest, ought to retract the article.

Dan Johansson discusses his 2004 vocabulary analysis of graduate textbooks used in economics programs. He investigated their treatment of two sets of ideas. One is knowledge and discovery: entrepreneur, innovation, invention, tacit knowledge, and bounded rationality. The other deals with social rules: institutions, property rights, and economic freedom. Today, mainstream economics gives more attention to institutions, property rights, and economic freedom. But the textbooks remain pretty much the same today, and the mainstream generally continues to neglect entrepreneurship, discovery, and the richness of knowledge.

The writings of Isaiah Berlin (1909–1997), now published chiefly by Princeton University Press, have in large part been brought to light thanks to the work—over five decades—of Henry Hardy. A Fellow of Wolfson College, Oxford, Hardy discusses Berlin’s life, work, and thoughts. Hardy maintains The Isaiah Berlin Virtual Library (link). Selections from Berlin on Karl Marx were republished in Econ Journal Watch in September 2025 (here and here). Hardy’s book In Search of Isaiah Berlin: A Literary Adventure (2018, Amazon link) tells of his own interaction with Berlin and his writings.

Jason Sorens discusses his article about three recent papers that might lend support to opponents of liberalization. One paper finds that housing supply has no long-run effect on local rents, while two others find that restricting housing supply might translate into amenities. Sorens argues that the evidence so far still supports the conclusion that supply-side zoning liberalization typically lowers local rents over meaningful time horizons without generating disamenities substantial enough to overcome the welfare benefits of liberalization.

In 2022, Swedish historian of economic thought Lars Magnusson published a major book (in Swedish) about Swedish economic thought, from the late Middle Ages to the mid 19th century. The title (in English): From Medieval Provincial Law to State Liberalism: Economic Thought in Sweden. One theme is that proto-liberal thinking, often mixed in varying degrees with so-called mercantilist tendencies, marks Swedish thinkers both before and contemporary with Adam Smith. Another theme is the more thorough classical-liberal challenge to mercantilism from Anders Chydenius in the second half of the eighteenth century. Also, Magnusson limns a ‘pragmatic’ liberal vein in Swedish economic thought in the 19th century. EJW published a a review essay by Max Skjönsberg, who interviews Magnusson here.

George Selgin discusses his book False Dawn: The New Deal and the Promise of Recovery, 1933–1947 (University of Chicago Press, 2025), which was treated to a review essay by Jason Taylor in the March 2025 issue of Econ Journal Watch.

Professor Ivan Katchanovski discusses his article examining the Maidan massacre and the ouster of President Yanukovych in Ukraine in 2014.
 
This interview is conducted by Professor Glenn Diesen and is available on YouTube with video and subtitles here.

Professor Jeffrey Sachs of Columbia University is interviewed by Daniel Klein about being an economist, his favorite economists, his economist mentors, and his thoughts about the economics profession today. The conversation turns to his own ideological outlook and whether it has changed over the decades, and, then, to US foreign policy, particularly with respect to Russia.