N. Gregory Mankiw: On the Economic Ideas of the Left and Right Today

How is the US economy performing today? How should we think about the turn against free markets by prominent figures of the Left and the Right? What economic policies might spur innovation and growth in the future? In this Conversation, Harvard economist N. Gregory Mankiw analyzes the current moment and shares his perspective on the major economic policies and ideas of the Left and the Right. According to Mankiw, the American economy remains robust and dynamic, despite only good (rather than excellent) economic growth in recent years and increased consternation about the rise of inequality. Criticizing policies that rely excessively on central planning, Mankiw calls for high-skilled immigration, innovative approaches to education, and maintaining incentives that yield investment in research and development. He also suggests some alterations in tax and welfare policies that might help ameliorate problems we face in the short and long term.