The Jordan B. Peterson Podcast #245 – Jordan Peterson & Glenn Loury
Topics Discussed: Dr. Loury’s Career, The Pareto Principle, Market Failure & Climate Change, The G Factor (general intelligence factor), Why Stephen Jay Gould Is Wrong, Neuroticism & Divorce, Race & Incarceration in the US , Culture & Biology, The 80/20 Principle, Openness & Entrepreneurs, Meaningful Work & Inequality, The Bell Curve , Political Correctness around IQ , Dr. Loury’s (Shifting) Political Views, Drug Addiction & Spiritual Transformation, Intelligence vs. Wisdom, The Glenn Show, George Floyd.
Glenn Loury is an American economist, academic, and author. He is the Merton P. Stoltz Professor of the Social Sciences and Professor of Economics at Brown University, where he has taught since 2005. At the age of 33, Loury became the first African American professor of economics at Harvard University to gain tenure. Loury achieved prominence during the Reagan Era as a leading black conservative intellectual. In the mid 1990s, following a period of seclusion, he adopted more progressive views. Today, Loury has somewhat re-aligned with views of the American right, with The New York Times describing his political orientation in 2020 as "conservative-leaning." In 1972, he received his B.A. degree in mathematics from Northwestern University. He received his Ph.D. in economics from the Massachusetts Institute of Technology in 1976, writing his dissertation, "Essays in the Theory of the Distribution of Income", under the supervision of Robert M. Solow. At MIT he met his future wife, Linda Datcher Loury.
Books Mentioned in this Podcast with Jordan Peterson & Glenn Loury:
Jordan Peterson Glenn Loury - Exploring the Depths of Economic Inequality
In a riveting segment of a conversation between renowned clinical psychologist Jordan Peterson and economist Glenn Loury, the duo delves deep into the intricacies of economic disparities. Central to their discussion is the Pareto principle, a concept that has profound implications across various disciplines, from the realms of science to the world of sports.
The Pareto Principle: A Universal Phenomenon
The Pareto principle, often referred to as the 80-20 rule, posits that roughly 80% of the effects come from 20% of the causes. Peterson elaborates on this principle, emphasizing its ubiquitous nature across different fields. Whether it’s the distribution of scientific publications, basketball hoops, or records produced, this principle holds true. A small fraction of the total participants tend to produce the lion’s share of the results, a phenomenon that Peterson underscores with compelling examples.
Implications for Economic Inequality
The broader implications of the Pareto principle extend beyond mere statistics. When applied to economic landscapes, it provides insights into the vast disparities witnessed globally. The duo contemplates the challenges of addressing these disparities, especially in a world where productivity and outcomes often adhere to the Pareto distribution. How can societies strike a balance between rewarding excellence and ensuring equitable opportunities for all? The conversation touches upon these complexities, urging listeners to reflect on potential solutions and policies.
The dialogue between Jordan Peterson and Glenn Loury offers a window into understanding the underpinnings of economic inequality. Through the lens of the Pareto principle, they shed light on the structural challenges that perpetuate disparities. As societies grapple with these issues, it becomes imperative to approach them with a nuanced understanding, informed by principles like the Pareto distribution. Only through such informed dialogues can we hope to chart a path towards a more equitable future.