Econtalk: Russ Roberts interviews Peter Boettke on “Living Economics”

Recently I enjoyed the Econtalk interview with Peter Boettke. Russ Roberts talks to Peter about his book, Living Economics. Boettke argues for embracing the tradition of Smith and Hayek in both teaching and research, arguing that economics took a wrong turn when it began to look more like a branch of applied mathematics. He sees spontaneous order as the central principle for understanding and teaching economics.

I learned quite a bit from the interview – it gives a 30,000 ft. overview of how economic thought developed during the 20th century. It makes it very clear how narrow is the currently popular “mainstream” perspective – how different it is from what Roberts/Boettke call “mainline economics” – the Smith, Hayek foundations of economic thinking.