#138 - Russ Roberts

Russ Roberts is the host of the podcast EconTalk (iTunes, RSS, and YouTube), a research fellow at Stanford’s Hoover Institution, and the author of several books, including How Adam Smith Can Change Your Life. You can find Russ on Twitter @econtalker. The YC podcast is hosted by Craig Cannon. Y Combinator invests a small amount of money ($150k) in a large number of startups (recently 200), twice a year. Learn more about YC and apply for funding here: https://www.ycombinator.com/apply/ *** Topics 00:00 - Intro 00:29 - What are his thoughts on “meaning, spirituality, or sense of belonging” in regards to creating your own company? 3:34 - Capitalism bearing the burden of human nature 4:04 - Why Russ started EconTalk 7:44 - Key economic concepts for founders after 700 EconTalk episodes 13:49 - Helpful methods for teaching economic concepts 18:09 - "Man naturally desires, not only to be loved, but to be lovely" - Adam Smith in The Theory of Moral Sentiments 19:39 - Why Russ wrote How Adam Smith Can Change Your Life 24:14 - How EconTalk has changed since the beginning 26:14 - Steve Adema asks - Russ Roberts has emphasized the limits of "only looking where the light is" when it comes to studying well-being. How can economists incorporate the aspects of well-being that aren't easily quantified? 34:34 - Warren Buffett's gift to his son 36:09 - Founders and unintended consequences 39:44 - The emotional aspect of giving your company away 44:19 - Anthony Y. asks - Has a guest on his show ever made him change his mind on a topic? 50:54 - Has Nassim Taleb convinced him to deadlift? 52:59 - Russ often quotes David Foster Wallace's speech, “This is Water”. Specifically, he quotes the phrase, “everyone worships.” What does Russ worship?