UC Davis Econ in the News

Its a two-fer today… The Economist talks about Prof. Clark:

Mr Clark argues that differences in modern economic development are rooted in differences of labor quality. That is, rich countries are rich because their workers are better… Mr Clark is perhaps wisely circumspect in his (non-)explanation of the underlying causes of differences in labour quality. He rather unhelpfully posits that “economies seem, to us, to alternate more or less randomly between relatively energetic phases and periods of somnolence.”

Clark’s “non-explanations” are a bit of a theme.