This week, Noah Smith and Erik Torenberg explore the rise of the 'abundance' ideology among Democrats, assess Obama's economic legacy, and analyze the New Right's evolving influence, offering a broad perspective on shifting political and economic discourse.
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SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co
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FOLLOW ON X:
@noahpinion
@eriktorenberg
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RECOMMENDED IN THIS EPISODE:
Noahpinion: https://www.noahpinion.blog/
Cory McArthur aka Irish Lotus: https://soundcloud.com/cory-mcarthur-879994262/irish-lotus
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TAKEAWAYS:
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"Abundance" as a Political Concept: Abundance represents national unity and a "we're all in this together" approach, focusing on making things better for all Americans rather than pitting groups against each other.
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Economic Analysis: Demand vs. Supply Constraints: They discuss how the 2008 financial crisis created an "aggregate demand shock" where everyone wanted to hold cash rather than spend.
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National Debt Discussion: They discuss how US debt grew from 60% to 100% of GDP during Obama's administration. They also mention AI could potentially help by increasing productivity growth.
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"The New Right" Ideology: Noah characterizes the "new right" as centered around defending "Western civilization" in a more narrow sense than previous definitions.
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Social Media's Impact on Politics: Noah argues that small, vocal minorities on social media have outsized influence on institutions.
