For this episode, Noah Smith and Erik Torenberg are joined by Sebastian Bensusan, an Argentinian engineer, to discuss Argentina's unique inflation problem, its agricultural and mining sectors, dollarization, voting patterns, and more. Match a donation up to $100 for your favorite charity with GiveWell by going to https://givewell.org and pick “Podcast” and enter Econ 102 at checkout.

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Check out Erik's new show Request for Startups featuring a rotating cast of founders and investors (including Dan) sharing their requests for startups they want to exist in the world, and also their stories of navigating the idea maze in different sectors so founders don’t have to reinvent the wheel anymore. The first episode is out now - we over better dating apps, references as a service, and WeWork for productivity

• Watch and Subscribe on Substack: https://requestforstartups.substack.com/p/receipt-based-dating-reference-checks
• Apple: https://podcasts.apple.com/us/podcast/request-for-startups-with-erik-torenberg/id1728659822
• Spotify:https://open.spotify.com/show/739L1LR32QI2XyoZlRh5nv

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We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

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Sponsors: GIVEWELL | NETSUITE

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Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

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LINKS:

- Sebastian Bensusan's blog: https://blog.sbensu.com/

- Noahpinion on Substack: https://www.noahpinion.blog/

- Noah Smith, "Argentina's macroeconomic situation is even worse up close" on Substack: https://www.noahpinion.blog/p/argentinas-macroeconomic-situation

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X / TWITTER:

@noahpinion (Noah)

@sebasbensu (Sebastian)

@eriktorenberg (Erik)

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TIMESTAMPS:

(00:55) Episode Preview

(03:25) Argentina's Economy & Industries

(09:00) Lack of Development State

(15:45) SPONSOR: GIVEWELL

(28:20) Hyperinflation & Dollarization

(30:46) SPONSOR: NETSUITE

(43:27) Inflation & Threshold Effects

(48:39) Impact of Inflation on Bonds & Borrowers

(55:10) Effects on Savings

(01:00:01) Replacing Welfare State with Growth

(01:08:14) Privatization & Corruption in Argentina

(01:13:04) Refocusing Argentina on Real Economy

(01:14:59) Post-Macroeconomics Argentina