Claudia Goldin, Prize in economic sciences 2023: Official Interview

Nobel Prize
11 Feb 202431:29
EducationalLearning
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TLDRIn this engaging speech, the speaker reflects on their journey from a childhood interest in science to becoming a passionate economist. They recount discovering economics in college and being inspired by mentors who deepened their understanding of the field. The narrative highlights the importance of curiosity, the interdisciplinary nature of economics, and the value of diversity in academic perspectives. The speaker also discusses their personal experiences with collaboration and mentorship, the evolving role of women in economics, and the significance of following one’s passions in both academic and personal pursuits.

Takeaways
  • πŸ”¬ The speaker always wanted to be a scientist but didn't understand economics until college.
  • 🏫 Many complex subjects like philosophy, religion, and economics are hard to teach in high school.
  • 🧫 The speaker's interest in science began in high school, leading to an initial focus on bacteriology.
  • πŸ”¬ Exposure to economics in college, particularly through passionate teachers, shifted the speaker's focus.
  • πŸ“š The speaker values a broad academic experience, having taken courses in many subjects before settling on economics.
  • πŸ›οΈ Key mentors at the University of Chicago guided the speaker toward labor economics and economic history.
  • πŸ” The speaker emphasizes the importance of curiosity and a passion for understanding the world.
  • ✈️ The deregulation of the airline industry is highlighted as an impactful economic change.
  • πŸ‘©β€πŸ« The speaker enjoys working with passionate students and encourages following one's academic interests.
  • πŸ‘« Collaboration in economics has increased over time, though it was traditionally more individualistic.
Q & A
  • What did the speaker initially want to study in college?

    -The speaker initially wanted to study bacteriology in college.

  • Why did the speaker transfer to the Faculty of Arts and Sciences at Cornell?

    -The speaker transferred to pursue a broader range of subjects and explore different fields of study.

  • What aspect of economics appealed to the speaker?

    -The speaker was appealed by the mathematical nature of economics and the concept of equilibrium in the field.

  • Who was Alfred KH and how did he influence the speaker's interest in economics?

    -Alfred KH was a passionate economist who explained economics in a way that the speaker could understand and appreciate, thus influencing the speaker's interest in the field.

  • What was the speaker's field of study in graduate school?

    -The speaker studied industrial organization and the theory of regulation in graduate school.

  • Why did the speaker choose to go to the University of Chicago for graduate school?

    -The speaker chose the University of Chicago because it was home to some of the great minds in industrial organization, law, and economics.

  • What role did mentors play in shaping the speaker's academic path?

    -Mentors, such as Gary Becker and Robert Fogel, guided the speaker towards labor economics and economic history, showing passion for their subjects.

  • How does the speaker describe the collaborative nature of economics today?

    -The speaker describes economics today as more collaborative than in the past, with fewer instances of individuals working alone.

  • What was the speaker's experience with working collaboratively in the early stages of their career?

    -In the early stages of their career, the speaker mostly collaborated with men, as there were very few women in the field at the time.

  • How does the speaker feel about the role of passion in academic pursuits?

    -The speaker emphasizes the importance of following one's passions in academic pursuits and maintaining curiosity to drive research.

  • What advice does the speaker give to those interested in economics or academia?

    -The speaker advises to follow one's passions, ask questions, and seek understanding, even when the path is not straightforward or easy.

Outlines
00:00
🌟 Discovering Passions in Science and Economics

The speaker reflects on their journey of discovering their passion for science and economics. Initially drawn to the field of bacteriology, they were unaware of the depth and breadth of economics until introduced to it in college by Professor Alfred KH. This encounter led to a shift in their academic pursuits from bacteriology to economics, with a focus on industrial organization and the theory of regulation. The speaker emphasizes the importance of being open to various fields of study and the role of passionate mentors in shaping one's academic path.

05:02
πŸ“š Influence of Mentors and the Evolution of Interests

In this paragraph, the speaker discusses the profound impact mentors had on their academic trajectory, particularly at the University of Chicago where they were guided by renowned economists like Gary Becker and Robert Fogel. These mentors helped the speaker transition from industrial organization to labor economics and economic history. The speaker also highlights the joy of academic curiosity, using the example of a lunch conversation about culinary history that sparked further interest in the subject. The narrative underscores the value of interdisciplinary exploration and the role of students in continuing academic inquiries.

10:05
πŸ† The Nobel Prize Experience and the Power of Recognition

The speaker recounts the whirlwind experience of receiving the Nobel Prize, from the initial announcement to the overwhelming influx of emails from well-wishers. They describe the process of preparing for the announcement, the emotional impact of reading heartfelt messages, and the sense of validation and pride these communications conveyed. The paragraph highlights the communal aspect of such an individual honor, as it resonates with many people and inspires a sense of shared achievement.

15:07
🀝 The Shift Towards Collaborative Economics

This paragraph delves into the evolution of economics from a solitary pursuit to a more collaborative discipline. The speaker shares their experiences of working with both male and female collaborators, including their husband Larry Katz, and the enriching dynamic that working with women brings to their research. The speaker also touches on the humorous side of academic failures and the importance of perseverance in the face of setbacks.

20:10
πŸ• Dogs, Companionship, and the Joy of Training

The speaker shares their personal journey with dogs, starting from graduate school with their first dog, Kelso, to their current dog, P. They express the joy of training dogs and the sense of community it brings, connecting them with 'dog friends' and various dog-related activities. The paragraph illustrates how personal passions can intersect with professional life, adding depth to one's experiences beyond academia.

25:12
πŸ‘©β€πŸ« The Importance of Diversity in Economics

The speaker addresses the issue of diversity in economics, particularly the underrepresentation of women in the field. They discuss the misconceptions about what economics entails and the need to correct these to attract a more diverse group of students. The speaker also explores the benefits of diversity, noting how different perspectives can enrich the field. They share their efforts in creating programs to showcase the true nature of economics and to inspire a new generation of economists.

30:12
πŸš€ Women's Progress and the Journey Toward Equality

In the final paragraph, the speaker reflects on the significant strides women have made in terms of legal rights and societal status over the years. They acknowledge that while progress has been made, there is still room for improvement. The speaker emphasizes the importance of recognizing and building upon the achievements of the past to continue advancing toward gender equality in all aspects of life.

Mindmap
Keywords
πŸ’‘Economics
Economics is the social science that studies the production, distribution, and consumption of goods and services. In the video, the speaker discovers the field of economics in college, highlighting its complexity and the difficulty of teaching it to high school students. The speaker's interest in economics is sparked by a professor's passion for the subject and its mathematical nature, which contrasts with the common misconception that economics is solely about finance.
πŸ’‘Scientist
A scientist is a person engaged in the systematic study of the physical and natural world through observation and experimentation. The speaker mentions always wanting to be a scientist but not knowing what economics was until college. This reflects the speaker's early aspirations and the evolution of their academic interests.
πŸ’‘Bacteriology
Bacteriology is the branch of biology that studies the morphology, life history, and effects of bacteria. The speaker initially went to college to study bacteriology, fascinated by what happens under a microscope, indicating a shift from an early interest in microbiology to economics.
πŸ’‘Genetics
Genetics is the study of genes, genetic variation, and heredity in organisms. The speaker mentions not being informed about genetics and the science of the cell, which suggests a gap in their early scientific education that they later filled through their academic pursuits.
πŸ’‘Industrial Organization
Industrial organization is a branch of economics that deals with the structure of industries and firms, their behavior, and the regulation of their activities. The speaker's initial focus in economics was industrial organization, influenced by a professor passionate about the field, which led to an interest in the theory of regulation.
πŸ’‘Economic Historian
An economic historian studies the economic past to understand the present and predict the future. The speaker identifies as a generalist economist and an economic historian, needing to be open to various types of economics to study different periods and subjects relevantly.
πŸ’‘Mentor
A mentor is a trusted advisor or coach who helps guide someone's development. The speaker mentions several mentors, including Alfred KH and Gary Becker, who were passionate about their subjects and influenced the speaker's academic path.
πŸ’‘Collaboration
Collaboration refers to working together with others toward a common goal. The speaker discusses the shift from individual to collaborative work in economics, reflecting on their own experiences working with others, including both men and women.
πŸ’‘Culinary History
Culinary history is the study of the evolution of food preparation and consumption over time. The speaker mentions an interest in culinary history, sparked by a lunch conversation, which shows the interdisciplinary nature of academic curiosity and the speaker's broad interests.
πŸ’‘Passion
Passion is a strong emotional excitement or enthusiasm for something. The speaker emphasizes the importance of following one's passions in academic pursuits, as it drives curiosity and sustained interest in understanding complex subjects.
πŸ’‘Diversity
Diversity refers to the variety of different types of people or things included in a group or environment. The speaker discusses the importance of diversity in economics, noting that different perspectives can enrich the field and that women and men tend to specialize in different subfields of economics.
πŸ’‘Curiosity
Curiosity is a strong desire to know or learn something. The speaker attributes their academic success to a never-ending curiosity, which has led them to explore various fields and questions throughout their career.
Highlights

The speaker's initial aspiration to become a scientist and the discovery of economics in college.

The challenge of teaching complex social sciences like economics to high school students.

The speaker's transition from bacteriology to economics at Cornell, influenced by a passionate professor.

The importance of mentors and their passion for their subjects in shaping the speaker's academic path.

The speaker's shift from industrial organization to labor economics and economic history.

The role of Alfred KH in deregulating the airline industry and the impact on competition.

The influence of mentors like Gary Becker and Robert Fogle on the speaker's academic journey.

The speaker's approach to academic curiosity and the exploration of various fields, including culinary history.

The experience of receiving a prestigious award and the emotional response from the academic community.

The overwhelming number of supportive emails received post-award announcement.

The evolution of economics from an individual to a collaborative science.

The speaker's reflections on working with both male and female collaborators in the field.

The importance of following one's passions in academic pursuits and the value of persistence.

The speaker's humorous anecdotes about failed attempts to find important documents.

The speaker's experiences with feeling alone in a male-dominated field and the importance of diversity.

The role of diversity in economics and its impact on the field's subdisciplines.

The speaker's efforts to increase diversity in economics and change perceptions about the field.

The speaker's views on the importance of teaching economics as a subject about people, not just markets.

The challenges of teaching economics to undergraduates and the need for talented teachers.

The speaker's exploration of the progress of women's rights in economics and society.

Transcripts
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