In June, Nobel economist Vernon L. Smith gave an Acton University speech titled “Faith and the Compatibility of Science and Religion.” While he was in Grand Rapids, he sat down with Victor V. Claar and went into some of the specifics of his lecture, as well as his vast experience in economics, including experimental economics. Their conversation was recorded as the cover feature for the Fall issue of Religion & Liberty. As a preview for this publication — which will be available soon — enjoy part of the conversation between these two esteemed economists:
Victor Claar: How did you first become interested in economics?
Vernon Smith: Well, I was an undergraduate at Cal Tech. I didn’t even know that economics existed. I was studying physics, chemistry, and mathematics. As a senior, we had a course, Principles of Economics. I was just fascinated by economics. By then, I pretty much decided I probably wouldn’t continue in science or engineering. I hadn’t decided what to do instead. But I took that course, and then I knew what I wanted to do next, which was to go back home: to the University of Kansas. I chose Kansas because that’s where I was from and, being entirely self-supporting, I could take advantage of their low in-state tuition. So I got a master’s degree there in economics. (more…)