The Economics of Early Childhood: Why the First Five Years Matter Most

In this episode of "The Pie," host Ben Krause interviews Nobel Laureate James Heckman on the economics of early childhood development. Heckman discusses the importance of early years (birth to age six) on brain development, the malleability of the brain during these years, and the influence of external conditions like education and home environment. He touches on the policy implications of his work, emphasizing the value of parental involvement and early interventions. The conversation also explores the role of cognitive and non-cognitive skills, dynamic complementarity, and the impact of early childhood interventions on long-term health outcomes. Heckman critiques the "credibility revolution" in economics and advocates for a more holistic approach to understanding economic phenomena. The episode concludes with Heckman sharing insights on books he is reading, influential courses from his past, and his perspective on the current state of economic research.