On Rational Actors, Kevin and Stephen consider whether economics is a science. Stephen outlines the disagreements between behavioral economists and experimental economists. Is the “rational actor” theory alive and well? Stephen makes the case for government gridlock, and Kevin wonders whether the current gridlock is exactly what the American people want.
On The Glenn Show, Glenn and Harold discuss the growing field of behavioral economics. Harold argues that 401(k) plans show both the benefits and the limits of benign paternalism. What about people too poor to have a 401(k)? Glenn and Harold consider how behavioral economists are studying the developing world. They close by discussing Sendhil Mullainathan and Eldar Shafir’s new book Scarcity, which explores why poor people make self-limiting decisions.
On The Glenn Show, Glenn and Ann check in on Obama a year into his second term. Has his vacillation on Syria and the Fed hurt his credibility? Ann argues that the Larry Summers controversy exposed an anti-science crowd on the left—but maybe a small dose of delusion is healthy. Turning to the end of NYC’s stop-and-frisk program, Ann worries that emotions adulterated the public debate. Are liberal gun-control measures breeding a nation of victims? Finally, Glenn criticizes the secrecy of the security state under Obama.