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“I have seen the future, and it works”. That was what Lincoln Steffens wrote in a letter to Maria Howe in 1919 with respect to Vladimir Lenin’s Soviet Union. Which societies are thought to “work”, and how does that influence the power and authority such societies have, and the global leadership they can exercise? Key Insights: We need to have anoth…
 
Listen now | Noah Smith & Brad DeLong's 30:00 To mix metaphors, when we go hunting for zombie economic ideas, there are lots of fish in barrels for us to shoot. We do not have to try to shoot them all. Indeed, we should not. This is a public episode. Get access to private episodes at braddelong.substack.com/subscribe…
 
Brad DeLong: INTERVIEW: Inflation Concerns in the US Following Secretary Treasury Janet: ‘Apple Podcasts: tbs eFM This Morning: 0514 IN FOCUS… This is a public episode. Get access to private episodes at braddelong.substack.co…
 
Key Insights: Economic arguments against higher taxes that may have been somewhat plausible back in the days of 70% or so maximum individual and 40% or so maximum capital gains tax rates simply do not apply now. Right-wing parties that don't think they can credibly make the argument that cosseting their core constituencies is necessary for rapid ec…
 
Key Insights: Getting the rate of profit—the sums that are charged businesses for renting machines and renting space, and for access to the generalized social power to deploy resources that is finance—right is a very, very important thing to do. Why? Because the market economy is a complicated institutional calculating machine for determining how t…
 
With special guest Dan Wang: Key Insights: Brad DeLong: “IEveryone should subscribe to Foreign Affairs and read Dan's forthcoming piece…” Noah Smith: “There are no good models in history for what China is doing…” Dan Wang: “There are lots of questions about industrial policy that it is very difficult to answer…” And as always, the last key insight …
 
Listen now | Noah Smith & Brad DeLong, with Zeke Hausfather: Fifteen years ago "solar power" was going to be burning switchgrass in a closed-carbon cycle... Technology is the sauce... Global leadership will have to come from the arc of Asia facing the bullets, because the American century is over… It's possible to be increasingly optimistic about c…
 
Listen now | Five key insights: Hexapodia!, of course. Also: listen to Dan Wang & to Barry Eichengreen, China's slowing migration to the coast looks like a significant error, & China looks not that different from the rest of coastal East Asia when looked at in comparative context... This is a public episode. Get access to private episodes at bradde…
 
Listen now | with Claudia Sahm, Noah Smith, & Brad DeLong: n the last resort, the the way the government budget constraint balances itself is through... levying this inflation tax... a lousy tax.... Larry and Olivier think we are heading down the road toward a world in which, because Republicans will not allow taxes to be raised, this lousy inflati…
 
For 200 years—from 1800 to 2000—first the Industrial Revolution Age and next the Modern Economic Growth Age rolled forward, bringing previously unimaginable wealth to the global north. And the global south fell further and further behind. Don’t get us wrong—life expectancy, nutrition standards, and material well-being in 2000 were all much higher i…
 
Mike Konczal: Freedom From the Market: America’s FIght to Liberate Itself from the Grip of the Invisible Hand Konczal says that it is only today that “glib libertarians” purveying “fantasies” are trying to make us forget “that free programs and keeping things free from the market are as American as a…
 
The classical British social insurance state took large chunks of human activity out of the marketplace and attempted to distribute them to each according to his or her need. The classical American social insurance state was targeted and grouchy, attempting to elicit proper behavior. Now we have a turn that we regard as very hopeful: recognizing th…
 
| If moderate raises in the minimum wage do not cause unemployment, who can object to them—but why do they not cause higher unemployment, if they in fact do not? RSS URL: Reference: Arin Dube (2019): Impacts of Minimum Wages: Review of the International Evidence This is a public episode. Get access to private episodes at braddelong.substack.com/sub…
 
Is there a mysterious Factor X that can speed growth, enhance opportunity, raise wages, & convince others that no, China does not have a superior system? RSS URL: Works Referenced: Twirlip of the Mists: Hexapodia as the Key Insight: ‘I haven't had a chance to see the famous video from Straumli Realm…
 
Noah Smith & Brad DeLong now have a podcast: Works Referenced: Twirlip of the Mists: Hexapodia as the Key Insight Vernor Vinge: A Fire Upon the Deep Vernor Vinge: A Deepness in the Sky Larry Summers: The…
 
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