In this thought-provoking episode of The BoricuaBC2 Show, host Bill Cancel speaks with Professor Steven Vogel, a renowned political economist, about the intersection of politics and economics. With an extensive background in political science and the political economy of advanced industrial countries, particularly Japan, Professor Vogel underscores the importance of a holistic, interdisciplinary approach to understanding global issues. This episode covers everything from market governance and regulation to the lessons from the 2008 financial crisis and current economic policy debates.
Professor Steven Vogel is a distinguished professor of Political Science and Political Economy at the University of California, Berkeley. He is also the director of the Political Economy Programme and holds a BA from Princeton University and a PhD from UC Berkeley. His research spans comparative political economy, market governance, and the political economy of advanced industrialised countries, with a special focus on Japan. Professor Vogel is the author of Market Craft: How Government Makes Markets Work (Oxford, 2018) and other major works that examine government and industry reforms in capitalist systems.
The key differences between political economy and traditional economics, and why the interdisciplinary approach is essential for solving today’s global problems.How government intervention and regulation shape markets and why markets cannot function without government rules.How a piecemeal approach to market regulation contributed to the global financial meltdown and the lessons we can learn from it. Pre-distribution, a concept that focuses on addressing inequality before it arises, through public investment and market regulation, rather than relying solely on redistribution after the fact.A comparison of the economic models of the United States and Japan, focusing on the strengths and weaknesses of each system.
Episode Breakdown with Timestamps:
[00:00] - Introduction[02:03] - Political Economy vs Economics[04:17] - The Importance of Market Craft [09:11] - The Concept of Pre-distribution[11:43] - Comparing the U.S. and Japan's Economic Model[15:37] - What the US Can Learn from Japan[16:46] - Deregulation and Its Misunderstandings in the U.S.[18:20] - Current Economic Concerns in the US[20:33] - US Economic Policy Reforms[21:44] - Learn More about Professor VogelLinkedIn: https://www.linkedin.com/in/steven-vogel-47045b6/ Website: https://www.ocf.berkeley.edu/~svogel/ Book: Market Craft: How Government Makes Markets Work (Oxford University Press, 2018)Professor Vogel's Profile at UC Berkeley: https://polisci.berkeley.edu/people/person/steven-vogel Upcoming Work: Professor Vogel’s forthcoming paper on Pre-distribution from the Roosevelt Institute (not yet published).
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