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It’s sort of like a regular economist if you want to put it that way, but he’s got more in common with classical economy professors than you might expect. I say this as a fan of classical economics. And I think this guy is a lot closer to classical economic policy than you might think. In fact, the reason not many people know about him is that almost all the money for his campaign was raised by a group that calls itself the Tea Party.

JUAN GONZÁLEZ: Well, Professor, you actually—a lot—well, you also brought up in your book, The Political Economy of the New Middle Class, a number of authors whose name we do not yet have in our readership.

MICHAEL COSMOS: Thank you, Juan.

JUAN GONZÁLEZ: Let me ask you, first of all, about the book that you cite most often: How to Become an Economic Thinker by Michael Munger, who is a professor of economics at the Yale School of Management.

MICHAEL COSMOS: Well, the other authors I cited in the book are very different. I mean, the one that I’m most proud of, actually, is a student named John Cassidy who was a junior in college, and he, in fact, was one of the three students that won the Princeton economics exam. And the Princeton University economics exam is actually a four-time Nobel Prize in economics. And so this is a guy who had a much lower GPA than the students in the room, but he came home and wrote this dissertation on this particular topic.

And what the book is about is that the students, of course, got the wrong idea about the economic world and what the real world was and how to find out if you were right in your assumptions. And so to the extent that they were reading this thing, this thing that supposedly explains economic theory, they would be, in fact, thinking along very similar lines to that of the students in the room, so that when they were able, after being told they weren’t going to get any money for this four-time Nobel Prize, to actually find out if there wasn’t any real economic theory here and how to test it, they did.

AMY GOODMAN: And I want to turn to a clip of Mr. Munger talking about that.

JUAN GONZÁLEZ: And talk about what he talks

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