click to enlarge
Stephen Dubner, nerd rock star.
Last night, Stephen Dubner, one-half of the pop-psych duo behind the 2005 bestseller
Freakonomics, spoke at Vanderbilt's student life center. Dubner, if you recall, is Mr. Hyde, the stenographer slash translator to University of Chicago economist Steven Levitt's mad scientist Dr. Jekyll.
Together, they're the guys who predicted
Jackson and Emma would be 2015's most popular baby names and sought to explain
reduced crime rates as a result of increased abortions.
Whether they're right or wrong is immaterial. What matters is that they make theories, back them up with data and, as such, provide us lesser minds with countless hours of cocktail-party chatter.
Because Dubner asked that the roughly 800 Vandy students and professors in attendance not spill any details about their follow-up (titled, naturally,
Super Freakonomics), we're forced to reduce the contents of last night's speech into a handful of truisms:
- The big "No Vacancy" sign on Wall Street will force would-be egghead bankers to find different jobs, thus having unintended positive consequences in fields like education
- A doctor wearing a tie is the single biggest threat to your health in the hospital
- Econ students, and their professors, are cold-hearted bastards
And...
- Al Gore's method for global climate change is ultimately doomed (shocked face) because it asks for too much behavioral change
Basically, if you've never heard an economist, or a journalist who's co-opted an economist's way of thinking, speak, your take-away is this: People are not necessarily good or bad, they're just lazy, incentive-driven creatures. All of which relates to Dubner's final point, after a student asked him his thoughts on the Big Three Bailout.
Based on conversations with people in the know, Dubner said there was "no way politically" they'd allow GM to sink into bankruptcy. He also offered an explanation for the automakers self-inflicted wounds.
"It's called moral hazard," he said. "If you think someone's going to bail you out, you'll do something wrong. There's no consequences."
Freaky, indeed.