Nobel Prize Conversations

Imagine you’re married, but you never discussed children with your partner beforehand. Then imagine your partner doesn’t want children, but you do. Your wedding day contract made no mention of kids, and legally everything is fine – but you’re still disappointed. Contracts are everywhere in society, and the example of children and marriage is just one example that shows that many contracts are – as Oliver Hart would say – incomplete.

In this conversation, conducted in April 2020, Hart explores the importance of words and language for a researcher, how being good at economics is about learning to THINK like an economist and how his parents influenced him to think that anyone who’s not left-wing is an idiot. The host of the podcast is nobelprize.org’s Adam Smith.