Econ 101 shapes how millions of people understand the economy—but what if the textbooks are teaching a worldview that’s outdated, oversimplified, and in some cases flat-out wrong? This week, Nick and Goldy talk with economists Wendy Carlin and Suresh Naidu, leaders of CORE Econ, the global project rewriting introductory economics to reflect the real world. They explain why the old curriculum failed during the 2008 financial crisis, how CORE foregrounds issues students actually care about—inequality, climate change, and the future of work—and why teaching economics without talking about innovation or power is like teaching physics without gravity. If you’ve ever walked out of an Econ 101 class thinking, “That can’t be how the economy really works,” this episode is your vindication—and your alternative.
Why essential work is essentially forced labor (with Suresh Naidu)
What became known as “essential work” during the pandemic was really just forced labor, according to labor market economist Suresh Naidu. He shares employers’ secret tricks for manipulating the labor market and explains how powerless most workers have become as a result.
What would you do if you were benevolent dictator?
We’re continuing to celebrate our 100th episode this week with another compilation — the best of the benevolent dictator question. What would you do to fix the world’s most intractable problems if you had no restraints? Our guests from over the last two years weigh in.
The powerlessness of forced labor (with Suresh Naidu)
This week, labor market economist Suresh Naidu explains how his field attempts to account for the influence of power while studying employee/employer relationships, and unveils the hidden tricks of the coercive labor market.
Suresh Naidu is a professor of economics and international and public affairs at Columbia University as well as a fellow at the Roosevelt Institute, external faculty at the Santa Fe Institute, and a research fellow at the National Bureau of Economic Research.