For this episode, Noah Smith and Erik Torenberg are joined by Sebastian Bensusan, an Argentinian engineer, to discuss Argentina's unique inflation problem, its agricultural and mining sectors, dollarization, voting patterns, and more. Match a donation up to $100 for your favorite charity with GiveWell by going to https://givewell.org and pick “Podcast” and enter Econ 102 at checkout.

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RECOMMENDED PODCAST: History 102 with WhatifAltHist

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Check out Erik's new show Request for Startups featuring a rotating cast of founders and investors (including Dan) sharing their requests for startups they want to exist in the world, and also their stories of navigating the idea maze in different sectors so founders don’t have to reinvent the wheel anymore. The first episode is out now - we over better dating apps, references as a service, and WeWork for productivity

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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 | 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 https://givewell.org and pick “Podcast” and enter Econ 102 at checkout.

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

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LINKS:

- Sebastian Bensusan's blog: https://blog.sbensu.com/

- Noahpinion on Substack: https://www.noahpinion.blog/

- Noah Smith, "Argentina's macroeconomic situation is even worse up close" on Substack: https://www.noahpinion.blog/p/argentinas-macroeconomic-situation

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X / TWITTER:

@noahpinion (Noah)

@sebasbensu (Sebastian)

@eriktorenberg (Erik)

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TIMESTAMPS:

(00:55) Episode Preview

(03:25) Argentina's Economy & Industries

(09:00) Lack of Development State

(15:45) SPONSOR: GIVEWELL

(28:20) Hyperinflation & Dollarization

(30:46) SPONSOR: NETSUITE

(43:27) Inflation & Threshold Effects

(48:39) Impact of Inflation on Bonds & Borrowers

(55:10) Effects on Savings

(01:00:01) Replacing Welfare State with Growth

(01:08:14) Privatization & Corruption in Argentina

(01:13:04) Refocusing Argentina on Real Economy

(01:14:59) Post-Macroeconomics Argentina