#27: Free Lunch Thinking: Interview with Tom Bergin

Book Talk Today with Aun Abdi

On Episode #27 of Book Talk Today we're joined by Tom Bergin. Tom is an investigative financial journalist for Reuters. His work has prompted parliamentary inquiries and won numerous awards in Britain, the United States and Asia, including a Gerald Loeb Award for Distinguished Business and Financial Journalism and the Orwell Prize for Journalism.

Today we will be discussing his new book, 'Free Lunch Thinking: How Economics Ruins The Economy.'

Timestamps:

0:00 - Intro

1:37 - What is 'Free Lunch Thinking'?

8:35 - The politicisation of economics.

13:14 - Is there a flaw in economics?

17:42 - Why does economics still value the 'rational actor'?

23:05 - What is 'The Income Effect'?

34:18 - The Principal Agent Problem.

41:29 - What's the future of executive pay?

50:51 - Equality in economics.

56:35 - The ethical and diversity issues in economics.

1:02:05 - Price vs. Non-price factors in economics.

1:07:12 - What's the one takeaway from this book?

1:09:05 - Outro

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