11 On Concerns About Stability

The transcript discusses various types of stability, including social, macro, and monetary stability, and highlights the neglect of economic stability by past economists. It reflects on how European history and personal experiences, such as those of a primary school teacher, influenced the speaker's views on stability. The speaker emphasizes the importance of understanding stability in economic models and how these concerns continue to be relevant today.

Why does the speaker believe social stability is a significant issue?

• Because it is often discussed in economic models.

• Because it is a concern that was neglected by previous generations.

• Because it is the only type of stability that matters.

• Because it is a new concept introduced by modern economists.

What did the speaker's generation of economists assume about the world?

• That it would be unpredictable and chaotic.

• That it would follow the solution states of equilibrium models.

• That it would be stable without any models.

• That it would require constant intervention.

How did the speaker's European background influence their views on stability?

• It had no influence on their views.

• It led them to ignore historical events.

• It exposed them to a history of instability.

• It made them focus solely on monetary stability.

Who was Harry Johansson, and why was he significant to the speaker?

• A famous economist who wrote about stability.

• A primary school teacher who shared experiences of European inflation.

• A historian who documented World War One.

• A politician who influenced economic policies.

What does the speaker suggest about the influence of environment on stability concerns?

• It has no impact on one's views.

• It is irrelevant in today's world.

• It shapes concerns differently for people from different regions.

• It only affects American students.