Author

What the banking system needs is creditors who monitor risk and cut their exposure when that risk is too high. Unlike regulators, creditors and counterparties know the details of a deal and have their own money on the line.

From Tyler Cowen

We're seeing an enormous amount of global upward mobility that's quite rapid and quite sudden, and undiscovered individuals have a chance - using the Internet, using computers - to prove themselves very quickly. So I think the mobility story will be a quite complicated one.

From Tyler Cowen

We will be returning to historical levels of inequality. We'll view post-war America as a kind of strange interlude not to be repeated. It won't be the dreams that we all had that virtually all incomes go up in lockstep at three percent a year. It hurts to give that up.

From Tyler Cowen

I think a lot of people will be liberated from a lot of oppressive manufacturing jobs, or a lot of service jobs, because they'll be done by computers. There'll be the world's best education available online and free.

From Tyler Cowen

Everything will have a Yelp review. And if you're a worker, there will be like credit scores. There already are to some extent. How reliable are you? How many jobs have you had? Have there been lawsuits filed against you? How many traffic tickets?

From Tyler Cowen

I think people who are not rich can be extremely happy. And I think the chances to be happy in this new world - with many more opportunities to be creative, to be online, to educate yourself - there'll be a lot more chances to be happy. It's not to say everyone will take them, but there will be a lot of new paths to opportunity.

From Tyler Cowen

If you and your skills are a complement to the computer, your wage and labor market prospects are likely to be cheery. If your skills do not complement the computer, you may want to address that mismatch. Ever more people are starting to fall on one side of the divide or the other. That's why 'average is over.'

From Tyler Cowen

Countries with lots of unmarried young men are the most vulnerable to sudden upheavals - this is what fueled the Arab Spring.

From Tyler Cowen

At least in the United States, most economic resentment is not directed toward billionaires or high-roller financiers - not even corrupt ones. It's directed at the guy down the hall who got a bigger raise. It's directed at the husband of your wife's sister, because he earns 20 percent more than you do.

From Tyler Cowen

After aircraft production, the entertainment industry is America's largest source of trade surplus.

From Tyler Cowen

Tyler Cowen

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