"Econ 102" with Noah Smith and Erik Torenberg Podcast Por Turpentine arte de portada

"Econ 102" with Noah Smith and Erik Torenberg

"Econ 102" with Noah Smith and Erik Torenberg

De: Turpentine
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 Economist and "Noahpinion" writer Noah Smith and investor Erik Torenberg make sense of what’s happening in the news, technology, business, and beyond, through the lens of economics. Econ 102 is a part of the Turpentine podcast network. Learn more: turpentine.co2023 Economía Finanzas Personales Política y Gobierno
Episodios
  • India-Pakistan, Building Back Military Power, and Immigration

    India-Pakistan, Building Back Military Power, and Immigration
    May 23 2025
    This week, Noah Smith and Erik Torenberg examine global conflicts—especially India-Pakistan tensions—the U.S. military and industrial strategy amid rising threats from China, and the implications of AI and electrification, emphasizing the need for smarter immigration and industrial policies to maintain America's technological and geopolitical edge. – SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: ⁠⁠⁠https://netsuite.com/102⁠⁠⁠ AdQuick The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit ⁠⁠⁠https://adquick.com/⁠⁠⁠ today to start reaching your customers in the real world. – SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co – FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia – RECOMMENDED IN THIS EPISODE: Noahpinion: ⁠⁠⁠https://www.noahpinion.blog/⁠⁠⁠ – TAKEAWAYS: India-Pakistan Conflict Analysis: Noah explains the territorial dispute over Kashmir dating back to the 1947 partition, with both countries claiming parts of each other's territory. America's Declining Global Influence: Noah argues we're seeing the "crumbling of Pax Americana" - reduced American deterrent effect allowing conflicts to escalate further. Critical Defense Industrial Base Concerns: America cannot match China's manufacturing capacity for military equipment, particularly missiles and drones. Economic Analysis - The Great Wage Stagnation: Wages stagnated for about 20 years, then resumed growth in the 1990s. Technology Transformation - The Electric Future: Battery and motor technology improvements are enabling electricity to replace combustion in cars, drones, appliances, and military equipment.
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    1 h y 1 m
  • The Middle Class Myth, China's Future, and What Really Happened in 1971

    The Middle Class Myth, China's Future, and What Really Happened in 1971
    May 15 2025
    This week, Noah Smith and Erik Torenberg debunk myths about the American middle class and globalization, analyze historical data on wage stagnation and trade, assess China’s technological rise, and discuss U.S. economic resilience and policy responses to protectionism. – SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: ⁠⁠https://netsuite.com/102⁠⁠ AdQuick The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit ⁠⁠https://adquick.com/⁠⁠ today to start reaching your customers in the real world. – SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co – FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia – RECOMMENDED IN THIS EPISODE: Globalization did not hollow out the American middle class: https://www.noahpinion.blog/p/globalization-did-not-hollow-out Noahpinion: ⁠⁠https://www.noahpinion.blog/⁠⁠ – TAKEAWAYS: Debunking the Middle Class Hollowing Myth: Noah challenges the common narrative that trade and globalization hollowed out America's middle class. Manufacturing and Economic Shifts: Noah explains that while manufacturing employment did decline significantly (about 3 million jobs in the 2000s), this didn't correspond with overall middle class decline. The China Shock Reality: The "5% truth" in the middle class hollowing narrative relates to what economists call the "China Shock" - a period in the 2000s when Chinese imports surged rapidly. America's Globalization Status: Contrary to popular belief, America has never been highly globalized compared to other countries. Import penetration (imports relative to GDP) is much lower than in countries like China, France or Germany. Energy Crisis Impact: Noah suggests the oil shocks of 1973 and 1979 had a more significant impact on American manufacturing than trade policies. Sino-Futurism and China's Future: They discuss "Sino-futurism" - the idea that China represents the technological future. Noah argues this perspective is overblown, noting issues with China's rapid infrastructure development (like the durability of construction), urban planning problems, and the cyclical nature of technological leadership.
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    54 m
  • You Can't Tariff Your Way to Greatness

    You Can't Tariff Your Way to Greatness
    May 2 2025
    This week, Noah Smith and Erik Torenberg explore how nostalgia influences politics and economic policy in the US and China, comparing their consumer cultures, industrial strategies, and the complex effects of tariffs on domestic economies and global relations. RECOMMENDED PODCAST: Tools and Weapons with Brad Smith Join Microsoft Vice Chair Brad Smith as he explores tech's impact on society with Bill Gates and Satya Nadella sharing untold stories and insights on Microsoft's AI-fueled future. Spotify: ⁠https://open.spotify.com/show/4bYASdhkHwovdSmU4YAjYg⁠ Apple: ⁠https://podcasts.apple.com/us/podcast/tools-and-weapons-with-brad-smith/id1632459165⁠ – SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: ⁠https://netsuite.com/102⁠ AdQuick The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit ⁠https://adquick.com/⁠ today to start reaching your customers in the real world. – SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co – FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia – RECOMMENDED IN THIS EPISODE: If you think Americans are mad now, just wait a few months: https://www.noahpinion.blog/p/if-you-think-americans-are-mad-now Noahpinion: ⁠https://www.noahpinion.blog/⁠ – TAKEAWAYS: Nostalgia in Politics: They discussed the role of nostalgia in politics, both in the US and China. Cultural Evolution: US and China: Noah argues China and America are more culturally similar than America and Germany due to both having replaced ancestral cultures with mass consumerism. Tariffs and Economic Impact: The conversation analyzes Trump's tariff policies and their economic consequences. US-China-Europe Relations: Europe may increasingly partner with China economically as US relations deteriorate. Economic Consequences of Trade Policy: Noah argues tariffs don't reindustrialize a country but actually deindustrialize it.
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    1 h
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