How to Avoid Wishful Thinking in Politics

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David Frum: How do you balance having values and advocating for ideas that are going to make the world better? He says there's a temptation to describe the world in a particular kind of way that is conformable with your deep convictions about how the world works. "You know what? There's no reason why we can't have 2% inflation," he adds.

Jason Furman is a professor of economics in the Economics Department at Harvard and at the Harvard Kennedy School. He also served as the chair of the Council of Economic Advisers under President Barack Obama.

In this week’s conversation, Yascha Mounk and Jason Furman discuss the causes of today’s persistent inflation in the US and whether it is likely to continue; how concerned we should be about the recent failures of mid-sized regional banks; and why America’s share of world GDP has remained resilient over the past decades even though it sometimes feels dysfunctional relative to other developed economies like Germany and Japan.

This transcript has been condensed and lightly edited for clarity.

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