Glenn Loury on the Cover Story and the Real Story

8 Feb 2023 · 48 min
Conversations with Tyler

8 Feb 2023 · 48 min

0:00

In this hour‑long interview, Tyler Cowen talks with economist, public intellectual, and memoirist Glenn Loury about a wide range of subjects that illuminate his personal history, scholarly work, and public commentary. The conversation opens with a playful exploration of the music that would soundtrack Loury’s worldview, moving from bebop jazz to Chicago R&B, Motown, and occasional bluegrass, and uses these cultural references to illustrate his upbringing and the way he thinks about politics. The dialogue then shifts to Loury’s early theoretical economics, revisiting his 1979 paper on firm size and innovation, his views on natural‑resource extraction, monopoly, and the role of government taxation versus market forces. He reflects on his academic trajectory, recalling his time at Northwestern alongside future Nobel laureates, his brief stint at Harvard, and his eventual move to the Kennedy School, noting how the profession’s shift toward empirical work has left his own style feeling outdated. Loury offers advice to graduate students, emphasizing marketable dissertation topics and rigorous methods. The conversation turns personal as Loury discusses his past cocaine addiction, recovery, and the process of writing a memoir that distinguishes between “cover stories” and the “real story,” revealing his tendency toward self‑delusion. He shares his evolving religious views, his stance on abortion, and his anxieties about facing death. The interview also covers his perspectives on race: the misunderstanding by the white right‑wing, the need to see Black urban poverty as an American problem, the “Omar” archetype of inner‑city dysfunction, and the importance of empathy across class and race. Loury comments on the mental‑health crisis among elite undergraduates, the fentanyl epidemic, and the challenges of public‑policy solutions. Finally, he mentions favorite novels, movies, and visual arts, and offers a candid view of his future memoir and its themes. Throughout, Loury balances scholarly insight, personal memoir, and cultural commentary, providing a multifaceted portrait of his intellectual evolution and current concerns.

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