In today’s episode, Noah Smith and Erik Torenberg dive into some listener questions on economics and macroeconomics issues. They discuss the Federal Reserve's strategy on interest rates, the complexities of macroeconomic prediction, the evolution of industrial policy, and pick the best economists of all time.
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SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co
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LINKS:
Noahpinion: https://www.noahpinion.blog/
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TIMESTAMPS:
(00:00) Intro
(00:35) Federal Reserve's approach to interest rates and inflation
(02:48) Challenges in macroeconomic predictions
(04:46) Microeconomic foundations of macroeconomics
(07:53) Debating the greatest economists
(10:19) University economics departments and their cultures
(13:25) Great financial crisis: Causes and Misconceptions
(18:50) Sponsor: Babbel and Beehiiv
(21:25) Stabilizing Nominal Gross Domestic Product (NGDP)
(25:50) Mechanisms of fiscal and monetary policy
(29:42) Embracing industrial policy
(37:13) Challenges in U.S. industrial policy
(42:20) Threat of bioweapons and AI
(49:21) Economic development with AI and automation
(51:23) Economic impacts of high interest rates
(53:44) Engaging with policymakers and future initiatives
(55:09) Wrap
