"World of DaaS" Oren Cass, Director of American Compass: The New Right
Jan 16, 2024
Oren Cass, founder of American Compass, challenges economic statistics and explores the cost of thriving in the middle class. He discusses changing dynamics within conservative ideologies, the role of unions in the new right, and the future of GOP/labor relationships. Cass delves into automation, globalization, and apprenticeships. He critiques industrial policy and offers unconventional advice on success.
AI Snips
Chapters
Transcript
Episode notes
Limits of GDP and Productivity Metrics
- GDP is a narrow economic measure that doesn't fully capture the economy's health or typical family prosperity.
- Productivity is a better focus but aggregating data can obscure true economic progress and variation.
Inflation Measures Miss Real Costs
- Official inflation measures exclude lifestyle creep and quality changes, masking real cost increases for middle-class essentials.
- Health insurance premiums rise for most without direct benefit due to rare, expensive treatments that inflate aggregate costs.
Geographic Economic Differences Matter
- Economic conditions vary widely by geography, affecting local inflation and labor costs differently than national measures reflect.
- Both accurate Fed inflation numbers and lived economic experiences must be acknowledged as valid.