Economist Noah Smith and Erik Torenberg discuss Noah's Substack essays about a possible age of Austerity, and moving away from China for the US's next age of globalization. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: 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.

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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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LINKS:

“An Age of Austerity is probably on the way” : https://www.noahpinion.blog/p/an-age-of-austerity-is-probably-on

“No one knows how much the government can borrow” : https://www.noahpinion.blog/p/no-one-knows-how-much-the-government

“The next phase of globalization is going to be awesome” : https://www.noahpinion.blog/p/the-next-phase-of-globalization-is

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Timestamps:

(00:00) Episode Preview

(01:24 - 23:48) Age of Austerity

(04:27) Reducing the deficit

(02:47) What spending cuts will we see?

(06:10) What’s the bottom line for growth?

(18:38) Sponsors: Daffy and Netsuite

(23:49) Adjust your graphs for inflation!

(25:22) Why a cheaper US dollar is actually a weapon

(26:55) Chinese “dumping”

(29:42) The next wave of globalization is going to be awesome

(32:29) China is a nuts country

(33:35) Are we deglobalizing?

(35:51) South and Southeast Asia

(43:19) Economic Nationalism is here to stay

(46:57) Globalization moving forward is about reducing our dependency on China

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X / TWITTER: 

@noahpinion (Noah)

@eriktorenberg (Erik)