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Capitalisn’t: The ups and downs of IPOs

With so many tech companies considering going public this year, hosts Kate Waldock and Luigi Zingales break down why these companies already have huge valuations, and whether rich people have an unfair advantage when it comes to investing.

Can we adjust to change more quickly?

“The question that I think more economists including myself are thinking about now is: What affects the speed of labor-market adjustment? When we were all farmers and then manufacturing came along, the skill mix of a farmer and that of a manufacturer weren’t that different from each other. But it takes time to turn a manufacturer into a computer programmer or a high-skilled service provider, or even a low-skilled service provider. My dad was a manufacturer, and he would have been an awful Walmart greeter. There’s a certain skill set he had that didn’t translate easily to the labor market that we have today.”

—Chicago Booth’s Erik Hurst, speaking at Booth’s Economic Outlook in New York

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