Economics, Applied

The Licensing Racket, and How to Fix It | Steven Davis, Rebecca Haw Allensworth | Hoover Institution

The U.S. occupational licensing system is riddled with problems and conflicts of interest. How can we fix it?
Rebecca Allensworth joins Steven Davis to talk about her new book on occupational licensing, which covers one-fifth of all American jobs. Licensing reduces supply, limits competition, raises prices, and harms consumers, benefiting incumbent practitioners at the public's expense. The US approach to licensing is especially prone to conflicts of interest and poor performance. Professor Allensworth offers several proposals to fix the licensing system, and Davis offers his thoughts as well.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied. 

Cool New Work on Remote Work | Steven Davis, Nicholas Bloom | Hoover Institution

Nicholas Bloom joins Steven Davis to discuss cool new research presented at the annual Hoover-SIEPR conference on remote work: How much do employers save on wages when they let employees work from home? Why does remote work raise productivity in some settings but lower it in others? Do children perform better at school when parents work from home? What does the rise of remote work mean for cities? 
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied. 

Inflation: A View from the FOMC | Steven Davis, Jeffrey Schmid | Hoover Institution

Federal Open Market Committee (FOMC) member Jeffrey Schmid speaks with Steven Davis about inflation, labor market conditions, and US monetary policy. They discuss the state of the economy, the thinking behind recent monetary policy decisions, the public’s intense dislike of inflation, central bank credibility, how the recent government shutdown challenged policymakers, and the need to rethink economic statistics.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied. 

Why Some Highly Educated Women Choose to Have Many Children | Steven Davis, Catherine Pakaluk | Hoover Institution

Steven Davis speaks to Catherine Pakaluk, author of an audacious book on highly educated American women who choose to have many children. How do these women explain and understand their choices to have large families? What do their stories say about the broader forces that influence fertility decisions? What are the lessons for families and communities? 
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied. 

How Do Small Towns Grow? | Steven Davis, Tom Barkin | Hoover Institution

Richmond Fed President, Tom Barkin, joins Steven Davis to consider what it takes for small towns to prosper, and why it matters for families and communities. They also discuss how policymakers and civic leaders can address concerns about the downsides of economic development.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied. 

Construction Productivity: Strange and Awful | Steven Davis, Austan Goolsbee | Hoover Institution

Austan Goolsbee joins Steven Davis to consider “The Strange and Awful Path of Productivity in the U.S. Construction Sector.” Strange because construction productivity has stagnated for decades. Awful because it makes homes less affordable for American families. They probe the issue, drawing on Austan’s recent research with Chicago Booth Professor Chad Syverson.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied. 

Why So Few Births? | Steven Davis, Claudia Goldin | Hoover Institution

Claudia Goldin joins Steven Davis to discuss the “The Downside of Fertility,” her essay presented at the 2025 Jackson Hole Economic Policy Symposium. She offers an explanation for why fertility rates fell around the world as women gained greater agency in multiple domains (marriage, reproduction, education, labor markets). When women gain agency, Goldin argues that a “mismatch” between men and women in their expectations about child-rearing responsibilities leads to lower fertility. She also argues that this form of mismatch is more acute in the wake of sustained, rapid economic development, as women pursue newfound opportunities while many men cling to traditional views about marriage and child rearing.
RELATED SOURCES
“The Downside of Fertility” by Claudia Goldin, 2025.
Claudia Goldin, Official Nobel Prize Interview, 2023.
The Population Bomb by Paul Ehrlich, 1968
The Vorkosigan Saga, a series of science fiction novels by Lois McMaster Bujold in which artificial wombs profoundly influence human reproduction and the nature of society.
RELATED EPISODES
“Two Parents or One? What It Means for Children and Society” with Melissa Kearny on Economics, Applied, 8 May 2024.
“Engaged Fathers, Flourishing Children” with Brad Wilcox and Ian Rowe, 20 August 2025.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied. 

Central Bank Communications | Steven Davis | Mary Daly, President of the Federal Reserve Bank of San Francisco | Hoover Institution

Mary Daly joins Steven Davis to discuss how the Fed communicates with the public about monetary policy. How precise should the Fed be about its actions and goals? How transparent about its reasoning and internal deliberations? How should the Fed weigh the need for flexibility in responding to unforeseen shocks against the desire for clarity and guidance? How can the Fed improve its communications? Mary and Steve also discuss the market’s reaction to Jerome Powell’s speech at the Jackson Hole Monetary Policy Symposium.
RELATED SOURCES
“Dynamic Central Bank Communication,” a speech by Mary Daly at the Western Economic Association International Annual Conference, San Francisco, 22 June 2025.
“Monetary Policy and the Fed’s Framework Review,” a speech by Jerome Powell at the Jackson Hole Monetary Policy Forum, 22 August 2025.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied. 

Engaged Fathers, Flourishing Children | Steven Davis, Brad Wilcox, Ian Rowe | Hoover Institution

Engaged fathers help children build happy, prosperous lives, as Steven Davis discusses with sociologist Brad Wilcox and educational entrepreneur Ian Rowe. Brad and Ian also share their ideas on how to strengthen fatherhood and help children choose better life paths.
RELATED SOURCES
Good Fathers, Flourishing Kids: The Importance of Fatherhood in Virginia by Brad Wilcox, Nicholas Zill, Richard Reeves, Ian Rowe, Gerard Robinson and Linda Malone-Colon, 2025.
Get Married: Why Americans Should Defy the Elites, Forge Strong Families and Save Civilization by Brad Wilcox, 2024.
Agency: The Four Point Plan (F.R.E.E.) for ALL Children to Overcome the Victimhood Narrative and Discover Their Pathway to Power by Ian Rowe, 2022.
The Two-Parent Privilege: How Americans Stopped Getting Married and Started Falling Behind by Melissa Kearney, 2023.
“Where Is the Land of Opportunity? The Geography of Intergenerational Mobility in the United States,” Raj Chetty, Nathaniel Hendren, Patrick Kline and Emmanuel Saez, Quarterly Journal of Economics, 2014.
“Why Marriage Survives: The Institution Has Adapted and Is Showing New Signs of Resilience,” Brad Wilcox, The Atlantic, 29 July 2025.
Natonal Marriage Project, University of Virginia
Vertex Partnership Academies
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied. 

The International Economic System: A Fork in the Road | Steven Davis, Maurice Obstfeld | Hoover Institution

The international economic system has reached a major turning point. Challenges include the rise of China, U.S. ambivalence about its role on the global stage, and Trumpian trade policy disruptions. What comes next, and what are the potential consequences?
RELATED SOURCES
“The International Monetary and Financial System: A Fork in the Road,” Andrew Crockett Memorial Lecture delivered by Maurice Obstfeld in Basel, Switzerland, 29 June 2025.
“Maurice Obstfeld on the Trade War’s Damage to the Monetary System,” Central Banking, 22 May 2025. 
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.