Noah Smith and Erik Torenberg are joined by Adam Nash to discuss the economic implications of AI, the recent tech downturn, and why the venture model has been so successful across multiple tech booms. Daffy is offering Econ 102 listeners, a free $25 for the charity of their choice when they join Daffy. https://www.daffy.org/econ102 

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

--

Sponsors: GIVEWELL | DAFFY | NETSUITE 

Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. 

Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 

NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.

--

Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

--

TIMESTAMPS:

(00:00) Episode Preview

(02:00) Why AI may stop nerds from ruling the world

(06:25) Are “Skilled” and “Unskilled” the correct labels in this debate?

(10:00) Who benefits from a growth mindset?

(13:00) Coding example

(14:25) Highly skilled tech workers get a boost

(17:20) Substitutability versus overall boost

(20:55) Sponsor: NetSuite

(23:45) AI as a productivity tool

(25:30) AI ethics and safety

(28:50) Adam Nash’s journey into fintech

(30:55) How Americans think about giving

(33:30) Macro: What does the current Tech downturn mean?

(35:00) People looking for a quick snapback and boom will be disappointed

(37:00) How will AI revolutionize distribution?

(39:50) Smartphones and depression

(43:45) Why the VC model has been so successful across multiple technology booms.

Noah Smith and Erik Torenberg discuss how today’s economy compares to the Reagan-era, cheap oil geopolitics, how much the war in Ukraine is actually costing the US, and the economics of the populist anthem Rich Men North of Richmond. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/102

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

--

Sponsors: GIVEWELL | DAFFY | NETSUITE 

Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. 

Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 

NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.

--

Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

🎧 You can also listen to Econ 102 on the podcast platform of your choice: https://link.chtbl.com/Econ102

--

Timestamps:

(01:13) What would a better US economy look like?

(05:59) Debt gets inflated away

(09:02) Fiscal Dominance

(09:59) Age of cheap oil

(19:05) Noah vs. Balaji Srinivasan’s bearish case that the US financial system is vulnerable.

(27:25) How the Reagan Era Compares to Today

(32:28) Economic attribution for presidents

(43:12) The surplus war in Ukraine

(49:05) Fact checking the economics of Rich Men North of Richmond

(57:47) Is the age of the nerd over?

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].

In episode 8 of ECON 102, Noah Smith and Erik Torenberg discuss the factors brewing up a major crisis for China’s economy, and what this means for the US and other international powers. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

--

Sponsors: GIVEWELL | DAFFY | NETSUITE 

Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. 

Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 

NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.

--

Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

--

TIMESTAMPS:

(00:00) Episode Preview

(01:37) Noah’s observations from his trip to Japan

(03:03) Chinese Economic Carnage

(04:09) Who is affected?

(04:59) How will falling resource prices affect inflation?

(14:12) China’s upcoming recession

(16:41) China’s building investments need to stop

(20:12) China’s paradox of thrift

(20:57) China’s boomer republican leaders

(21:39) What can China’s growth look like from here?

(27:11) What are China’s options for allaying the unrest?

(28:44) Extend and Pretend

(29:26) Balaji was wrong about China as diplomatic power

(33:18) China owns a Sri Lankan city now

(34:04) When Noah was most bullish on China’s future: the Hu Jintao era

(36:33) Xi JinPing as Stalin; Steve Ballmer

(40:00) The revolution of rising expectations theory in American 

(44:52) Spelling out our biggest fears about China

(47:23) Successes in recent alliances: Japan and Korea alliances, India, Vietnam,

(51:00) What are we watching for next?

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].

In episode 7, Noah Smith and Erik Torenberg discuss student debt, millennial politics, conservatism, international relations, and more. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

--

Sponsors: GIVEWELL | DAFFY | NETSUITE 

Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. 

Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 

NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.

--

Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

--

TOPICS COVERED:

(01:00) Episode Preview

(02:45) Evolution of Noah’s opinion on student debt

(06:40) Income-based repayment

(09:50) For-profit academic institutions

(14:09) Tax-income fund research

(16:02) Sponsor: NetSuite

(19:00)Were Millennials really generation-screwed?

(20:27) Millennial’s stance on politics

(25:07) Millennial’s becoming Conservative?

(27:02) How Conservatism evolved up to today

(34:50) Trump’s Foreign Policy: Russia & Ukraine

(39:13) The Right on Taiwan vs China

(40:50) Would China Pearl Harbor us?

(44:18) Consequences of wealth inheritance

(48:00) What will Gen Z’s Politics look like?

(49:30) Ketamine is lame

(50:05) Liberal depression

(54:07) Theory of biological imbalance

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LINKS:

Will There be a Millennial Chill https://www.noahpinion.blog/p/will-there-be-a-millennial-big-chill

--

X / TWITTER:

@noahpinion (Noah)

@eriktorenberg (Erik)

--

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].

Today we’re publishing a debate about industrial policy between Noah and Mike Bird, the Asia business and finance editor at The Economist. Noah highlights the importance of steering the economy to ensure that industries align with national goals and priorities. Bird questions the effectiveness of industrial policy, especially in developed countries. He argues that market forces and competition should determine the allocation of resources, rather than government intervention. Where do you stand?

If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine 

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

--

Sponsors: GIVEWELL | DAFFY | NETSUITE 

Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. 

Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 

NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.

--

Econ 102 is part of the Turpentine podcast network. Learn more: www.turpentine.co

--

TIMESTAMPS: 

(00:00) Episode Preview

(01:23) How this debate came about

(02:25) Why doesn’t The Economist have bylines?

(04:55) Chris Odendahl of The Economist’s article saying the focus on manufacturing policy is a delusion

(09:15) Is Korea the paragon of industrial policy?

(11:20) Overlooking military spending and the chip industry

(15:19) Industrial policy crucial for national security

(17:42) Sponsor: NetSuite

(18:45) Gish Gallop: https://en.wikipedia.org/wiki/Gish_gallop

(19:14) Complexity of policy implementation

(20:30) The exercise metaphor: multiple benefits

(29:34) Subsidies may not ensure resilience

(40:33) Balancing goals in geopolitics

(43:40) Carbon pricing 

(51:45) Manufacturing jobs

(53:35) Leveraging local multipliers (agglomeration effects)

(1:00:56) Industrial policy can have multiple benefits

(1:03:02) Local multipliers benefit economic activity

(1:09:24) Need for rigorous economic analysis

(1:19:27) Determined optimism drives progress

(1:20:05) Friend-shoring is often highly preferable to reshoring

--

TWITTER:

@birdyword (Mike)

@noahpinion (Noah)

@eriktorenberg (Erik)

--

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].

In episode 5, Noah Smith and Erik Torenberg discuss the promise and failings of higher education, working class economic prospects, the American healthcare system, and more. Noah’s articles are linked below. Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co 

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

--

Sponsors: GIVEWELL | DAFFY | NETSUITE 

Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. 

Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 

NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.

--

TIMESTAMPS:

(00:00) Episode preview

(01:23) How Noah joined, and then left academia

(04:29) The current state of universities

(09:30) Universities should invest in student companies indirectly

(11:03) Why Americans are falling out of love with college

(15:37) What stopped colleges from being able to provide a job and intellectual fulfillment 

(15:48) Sponsor: NetSuite

(19:55) It's not harder for the average non-college educated American to get jobs nowadays

(22:00) Michigan's rust belt

(24:08) Was populism driven by economic or socio-cultural factors?

(26:23) Is the working class grievance justified?

(29:00) Why we don't have a healthcare system like Japan or Korea's

(31:42) Healthcare and housing instead of UBI

(36:45) Expectations around higher ed

(41:00) Why aren't employers starting their own universities?

(43:50) Custom training programs for big corporations

(45:57) What higher education will look like a decade from now

--

LINKS:

Americans are Falling Out of Love with the Idea of College https://www.noahpinion.blog/p/americans-are-falling-out-of-love

--

X / TWITTER:

@noahpinion (Noah)

@eriktorenberg (Erik)

--

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].

Noah Smith guests on the Moment of Zen podcast (hosted by his Econ 102 co-host Erik Torenberg and founder Dan Romero) to discuss California land use, housing, politics, policing, and more. Subscribe to listen to Moment of Zen, a weekly show about tech, business, and culture, wherever you listen to podcasts: https://link.chtbl.com/moz

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

--

SPONSOR:

NetSuite provides financial software for all your business needs. More than thirty-six thousand companies have already upgraded to NetSuite, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you're looking for an ERP platform ✅ NetSuite: http://netsuite.com/turpentine and defer payments of a FULL NetSuite implementation for six months.

--

Econ 102 and Moment of Zen are part of the Turpentine podcast network. To learn more: www.turpentine.co

--

TIMESTAMPS:

(00:00) Episode Preview

(01:07) Antonio as Dennis Rodman

(02:05) The left and right version of “it’s time to build” i.e. Ezra Klein vs Marc Andreessen

(04:50) California skewed political identities

(07:00) California vs Texas GOP stance on immigration

(09:30) Should Gary Tan strategize from the left or the right, structurally

(11:11) Can the Asian block become a machine in SF? In California?

(12:50) Is LA better run than SF?

(17:40) What’s the best run city in the US?

(22:15) Best format for affordable housing in cities

(26:30) California is a class society based on land

(28:40) House-rich progressives in California

(31:00) Prop 13, property tax, and SALT debates

(39:30) The tide of YIMBYism

(51:10) Effective building in Japan

(58:00) YIMBY movement in SF lost because of crime

(59:00) The future of San Francisco

(01:09:00) Policing

(01:16:00) WWII and the atom bomb

(01:22:00) Will patriotism come back?

(01:25:00) Biggest misconception about Japan?

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LINKS:

Noah's Substack https://www.noahpinion.blog/

Book Recommendation on Prop 13: Golden Gates https://www.amazon.com/Golden-Gates-Fighting-Housing-America/dp/0525560211

--

X / TWITTER:

@noahpinion (Noah)

@dwr (Dan)

@eriktorenberg (Erik)

@moz_podcast

--

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].

In episode 3, Noah Smith and Erik Torenberg track China's housing bubble, its healthcare crisis, and Taiwan in relation to China and Japan. Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

--

Sponsors: GIVEWELL | DAFFY | NETSUITE 

Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. 

Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 

NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.

--

TIMESTAMPS:

(00:00) Episode Preview

(01:20) Metabanter and how Noah TA'ed Erik's Econ 102 class

(02:41) Overview of China's economy

(05:11) Why are we seeing a slowdown in China's growth?

(07:13) The US housing bubble compared to China's

(10:03) What are the concerns around China's real estate?

(13:28) Evergrande, the Lehman Brothers of China

(15:08) Predictions for the next few years of China's economy

(17:02) What does China's slowdown mean for their position in the world at large?

(18:19) China's demographics in a decade

(21:36) US-China relations

(25:01) US vs China's defence capabilities

(27:54) Noah's plan for dealing with China

(32:24) The political coalition preserving regulations

(33:40) What should China be doing to course correct?

(37:24) China's calculus about Taiwan

(38:53) Japan's views on Taiwan and China

(41:30) One Belt One Road Initiative and Xi Jinping's Legacy

--

SPONSOR THIS PODCAST:

We're looking for sponsors to partner with on this show. If you or your business might be interested, send us a note at [email protected]. Find out more here: https://www.turpentine.co/sponsors

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].

In episode 2, Noah Smith and Erik Torenberg track the fracturing of the Libertarian movement, the culture wars, and which ideas deserve not to die.

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

--

Sponsors: GIVEWELL | DAFFY | NETSUITE 

Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. 

Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 

NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.

--

Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

--

TIMESTAMPS:

(00:00) Episode preview

(12:54) Why did Libertarians lose?

(15:00) Free trade failure in the 2000s

(19:00) Libertarians jumping on the Trump train

(19:45) Evolution to state-capacity libertarian

(22:00) Culture wars vs. getting the economics right

(27:30) Effect of money on politics

(29:00) Urban fragmentation: San Francisco and New York

(30:30) Hot take: Gavin Newsom underrated

(37:00) How the right soured on the free markets and became became statist

(39:00) Can a 'reset' work

(40:20) Which ideas deserve not to die?

--

SPONSOR THIS PODCAST:

We're looking for sponsors to partner with on this show. If you or your business might be interested, send us a note at [email protected]. Find out more here: https://www.turpentine.co/sponsors

--

LINKS MENTIONED:

Where Does Libertarianism Go From Here? https://www.noahpinion.blog/p/where-does-libertarianism-go-from

Tyler Cowen, State-Capacity Libertarianism https://marginalrevolution.com/marginalrevolution/2020/01/what-libertarianism-has-become-and-will-become-state-capacity-libertarianism.html

--

TWITTER:

@noahpinion (Noah)

@eriktorenberg (Erik)

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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].

In our first episode of Econ 102, Noah Smith and Erik Torenberg discuss the highs and lows of Biden's first term, Biden's policies in comparison to previous presidents and other leaders, as well as China -- its real estate sector, industrial and manufacturing industries, and its views on tech.

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

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Sponsors: GIVEWELL | DAFFY | NETSUITE

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Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

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TIMESTAMPS:

(00:00) Episode Preview

(01:24) Overview of Biden's first term

(02:56) The most important thing Biden's done 

(12:19) What are the chances of Trump returning?

(14:03) In the 1970s once again

(14:47) Woke concerns among Republicans

(15:38) Noah's ideal foreign policy

(17:46) Japan's importance in foreign policy

(19:29) Main foreign policy concerns in the next cycle

(20:30) The ideal containment strategy

(22:55) China

(26:23) Getting to 1 billion Americans as a foreign policy measure

(27:24) Real estate in China

(31:33) Comparing and contrasting Chinese and American industrial policy

(37:02) China's stomp on the IT industry to encourage manufacturing

(39:09) The difference in Chinese and American views of manufacturing 

(43:18) Revitalizing American manufacturing 

(46:08) The services industry

(48:03) A shortage of human truckers 

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SPONSOR THIS PODCAST:

We're looking for sponsors to partner with on this show. If you or your business might be interested, send us a note at [email protected]. Find out more here: https://www.turpentine.co/sponsors

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].