From this episode
Recommended books
Klara and the Sun: A novel (Vintage International)
Author:
Kazuo Ishiguro
NEW YORK TIMES BESTSELLER • Once in a great while, a book comes along that changes our view of the world. This magnificent novel from the Nobel laureate and author of Never Let Me Go is “an intriguing take on how artificial intelligence might play a role in our futures ...
NEW YORK TIMES BESTSELLER • Once in a great while, a book comes along that changes our view of the world. This magnificent novel from the Nobel laureate and author of Never Let Me Go is “an intriguing take on how artificial intelligence might play a role in our futures ... a poignant meditation on love and loneliness” ( The Associated Press ). • A GOOD MORNING AMERICA Book Club Pick! Here is the story of Klara, an Artificial Friend with outstanding observational qualities, who, from her place in the store, watches carefully the behavior of those who come in to browse, and of those who pass on the street outside. She remains hopeful that a customer will soon choose her. Klara and the Sun is a thrilling book that offers a look at our changing world through the eyes of an unforgettable narrator, and one that explores the fundamental question: what does it mean to love?
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Career and Family: Women’s Century-Long Journey toward Equity
Author:
Claudia Goldin
Winner of the 2023 Nobel Prize in Economics A renowned economic historian traces women’s journey to close the gender wage gap and sheds new light on the continued struggle to achieve equity between couples at home A century ago, it was a given that a woman with a college degree had to choose between having a career and a family. Today, there are more female college graduates than ever before, and more women want to have a career and family, yet challenges persist at work and at home.
Winner of the 2023 Nobel Prize in Economics A renowned economic historian traces women’s journey to close the gender wage gap and sheds new light on the continued struggle to achieve equity between couples at home A century ago, it was a given that a woman with a college degree had to choose between having a career and a family. Today, there are more female college graduates than ever before, and more women want to have a career and family, yet challenges persist at work and at home. This book traces how generations of women have responded to the problem of balancing career and family as the twentieth century experienced a sea change in gender equality, revealing why true equity for dual career couples remains frustratingly out of reach. Drawing on decades of her own groundbreaking research, Claudia Goldin provides a fresh, in-depth look at the diverse experiences of college-educated women from the 1900s to today, examining the aspirations they formed—and the barriers they faced—in terms of career, job, marriage, and children. She shows how many professions are “greedy,” paying disproportionately more for long hours and weekend work, and how this perpetuates disparities between women and men. Goldin demonstrates how the era of COVID-19 has severely hindered women’s advancement, yet how the growth of remote and flexible work may be the pandemic’s silver lining. Antidiscrimination laws and unbiased managers, while valuable, are not enough. Career and Family explains why we must make fundamental changes to the way we work and how we value caregiving if we are ever to achieve gender equality and couple equity.
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The Undercover Economist Strikes Back: How to Run--or Ruin--an Economy
Author:
Tim Harford
A provocative and lively exploration of the increasingly important world of macroeconomics, by the author of the bestselling The Undercover Economist . Thanks to the worldwide financial upheaval, economics is no longer a topic we can ignore.
A provocative and lively exploration of the increasingly important world of macroeconomics, by the author of the bestselling The Undercover Economist . Thanks to the worldwide financial upheaval, economics is no longer a topic we can ignore. From politicians to hedge fund managers to middle-class IRA holders, everyone must pay attention to how and why the global economy works the way it does. Enter Financial Times columnist and bestselling author Tim Harford. In this new book that demystifies macroeconomics, Harford strips away the spin, the hype, and the jargon to reveal the truth about how the world’s economy actually works. With the wit of a raconteur and the clear grasp of an expert, Harford explains what’s really happening beyond today’s headlines, why all of us should care, and what we can do about it to understand it better.
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Episode overview
This is a strange moment in the economy. Wages are up, but so is inflation. Jobs are growing, but maybe not fast enough. Quit rates are at a 21st-century high. It isn’t clear what’s a trend, what’s a blip, what’s a transition and what’s now normal. And all this as the virus continues to stalk us and we process the trauma of the last 18 months.
“We all will have various times in our life where we’ll stop and say, ‘Whoa — am I going in the right direction? Is this the right occupation for me? Should I do something differently?’” says Betsey Stevenson. “But I can’t think of any other time when it’s been a correlated shock across the entire country, where we’ve all been faced — no, forced — to ask questions.”
Stevenson is an economist, and a highly accomplished one at that. She served as the chief economist of Barack Obama’s Department of Labor and later a member of Obama’s Council of Economic Advisers. Now she’s a professor of public policy and economics at the University of Michigan, as well as co-host of the podcast “Think Like an Economist.” She has a rare talent to blend a rigorous approach to labor market economics with a recognition that people — our psychologies and fears and dreams — matter, and they shape our economic decisions. Particularly now.
So I invited Stevenson on the show to discuss the big picture of what’s happening right now in the U.S. economy — wages, employment, inflation and the animal spirits driving much of it. She didn’t disappoint. I came away from this conversation far less confused than when I walked into it.
Mentioned in this episode:
“The Jobs Report Takeaway: A Huge Reallocation of People and Work Is Underway” by Betsey Stevenson
“Examining the uneven and hard-to-predict labor market recovery” by Lauren Bauer, Arindrajit Dube, Wendy Edelberg, and Aaron Sojourner
“Why we got more inflation than I expected” by Matt Yglesias
“Do Hiring Headaches Imply a Labor Shortage?” by Paul Krugman