Understanding the way the economy, and the world, works

Louis Johnston
Louis Johnston, economics professor at the College of Saint Benedict and St. John's University.
Ambar Espinoza | MPR

A talk by economist Louis Johnston about the role the liberal arts play in understanding how the world works, and why the economy behaves the way it does. He titled his talk, "The Liberal Arts and the Wealth of Nations."

He says geography, political science, religion, fine arts and the natural sciences all help us to figure out what's happening, and why.

In understanding the reasons for economic activity and growth, Johnston says it's not just about taxes and regulations, it's about institutions, values and culture.

He advised college students that "it doesn't matter what your degree is, it's that you learn something."

Johnston is a professor of economics at St. John's University and the College of St. Benedict. He gave this "Honors Lecture" at the University of Minnesota on January 22, 2018.

To listen to the program, click the audio player above.

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