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Discussion Section with Kevin Murphy, Featuring Nancy Stokey

Kevin Murphy, Nancy Stokey
Kevin Murphy talks with Nancy Stokey, The Frederick Henry Prince Distinguished Service Professor of Economics, about labor markets and cross-country growth, the transformative effects that technology has on economies and more.

Discussion Section 101: Names, Faces, and Ideas

Murphy introduces Stokey’s work and asks her about the sources of long-run growth over time.

Labor Markets and Cross-Country Growth

Stokey describes forces shaping the supply of and demand for labor, and how labor markets—among other factors—help explain why some countries grow more robustly than others.

Transformative Technology Part 1

Murphy and Stokey discuss the crucial role of technology in advancing standards of living over time and across countries.

Transformative Technology Part 2

How do advances in physical capital and technology, combined with improvement in human capital, combine to impact growth rates? Are some factors more important than others?

Transformative Technology Part 3

Stokey on the power of economic theory to explain a number of questions pertaining to economic growth and development.

Transformative Technology Part 4

Murphy and Stokey consider the role of households in an evolving economy, including not only how households are impacted but also how households help shape economic development, especially as regards human capital, with particular emphasis on immigrant households.