"Econ 102" with Noah Smith and Erik Torenberg

Patrick Collison & Noah Smith: How Can the US Stay Ahead Technologically?

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Feb 7, 2025
Join Patrick Collison, CEO of Stripe, a leader in online payment processing, as he and Noah Smith dive into American technological dominance. They discuss how the U.S. maintains its edge over global competitors through its diverse financing system and unified market, bolstered by immigration. The conversation takes a turn to Gen Z's mental health challenges and the role of humanoid robots in reshaping industries. Key policy recommendations emerge, advocating for innovative approaches to ensure continued economic and social progress.
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INSIGHT

US Technological Leadership

  • The U.S. maintains technological leadership, as evidenced by stable relative global GDP per capita since 1990.
  • This suggests potential success in development economics, but limited catch-up growth.
INSIGHT

FDI's Importance

  • Foreign Direct Investment (FDI) is crucial for industrialization, facilitating technology transfer and institutional development.
  • Countries like Poland and Malaysia demonstrate FDI's effectiveness in driving economic growth.
INSIGHT

Post-2008 Productivity

  • Post-2008, labor productivity fell in most OECD countries except the US.
  • This US-specific trend requires explanation, considering factors beyond resource advantages like oil.
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