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In the Bronx, a principal convened Finish Your Lab Days, where biology students ended up copying answers for work they never did.
This comes as little surprise to Steve Levitt, who several years ago recognized what most legislators and school administrators were unable (or unwilling?
And the reality was the plumbing was actually getting corroded by poor incentives in that system, and we didn’t realize it until it backed up in a really big way, and we said, “What is that smell? And not just because he was one of the very few people who foresaw the risk of a “catastrophic meltdown” that indeed came to pass — in the form of a global financial crisis and the Great Recession that followed.
But you, going quite against the grain, gave a talk based on a paper you’d written that was called “” And your answer was a firm “yes.” You argued that financial engineering and skewed incentives in banking and elsewhere could create “a greater, albeit still small, probability of a catastrophic meltdown.” Again, this is 2005. Put differently, we were living in well-run houses where the plumbing was not a problem.
) to foresee: that the introduction of high-stakes testing would create incentives that might encourage some teachers (especially bad ones) to cheat on behalf of their students.
So he developed an algorithm to catch cheaters, which was so successful that then-Chicago schools chief Arne Duncan brought Levitt in to help identify and fire cheating Chicago teachers.
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They would simply not take these risks that you’re talking about.” Raghu Rajan draws a straight line between the financial crisis and what he sees as one of the biggest dangers in the world today: the rise of populism, on both the right and left, driven by a deep distrust of those same elites who told everyone not to worry the last time around. The civil engineer knows how to build bridges, but doesn’t fully understand the motors that drive the machines he uses to build the bridges, and so on.Our entire archive of 600 episodes is available here, on our website, and on our app, which is available on i OS and Android.You can download as many episodes as you’d like on our app.PRX, the Public Radio Exchange, delivers the show to stations. NPR's station finder can link you to your local public radio station.We also air on the CBC in Canada and Radio National in Australia.