"Econ 102" with Noah Smith and Erik Torenberg

Paul Krugman on Leaving NYT, America's Economy, and Trump

Jan 31, 2025

The conversation dives into Paul Krugman's shift from traditional journalism to independent writing, highlighting the freedom it offers. They explore how public perception of the economy is often skewed by political affiliations. The podcast also delves into the strategic importance of U.S. manufacturing for national security, especially in light of geopolitical tensions. Additionally, they reflect on America's political climate today versus past eras, emphasizing a growing sense of risk and the evolving dynamics of trade policy.

01:09:06

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Quick takeaways

Paul Krugman emphasized the shift from traditional media to platforms like Substack for better editorial freedom and focused expression.

The podcast highlighted that public perception of the economy is significantly influenced by political affiliation rather than actual economic conditions.

The discussion underscored how national security concerns, amplified by geopolitical events, are reshaping U.S. manufacturing and trade policies.

Deep dives

The Growth of the Chicken Industry

The evolution of the chicken industry in America reflects both economic and consumer trends, highlighting how poultry has become a staple protein for many households. Increased consumer demand for chicken is linked to its affordability and versatility compared to other meats, making it a popular choice across various demographics. This shift has enabled the chicken industry to scale operations and optimize supply chains, which has implications for production methods and pricing strategies. The podcast delves into these factors, emphasizing how changes in consumer preferences are shaping the chicken market.

Intro

2min

Navigating Journalism's New Frontier

15min

Navigating the New Media Landscape: Freedom and Creativity in Writing

5min

Navigating Political Absurdities

21min

Navigating the American Automobile Landscape

1min

Rethinking American Manufacturing

19min

Navigating Independent Writing in the Digital Age

4min

This week Noah Smith and economist Paul Krugman hopped on a call to discuss Paul's departure from the New York Times, the benefits of independent writing, U.S. manufacturing and industrial policy, geopolitics, Trump 2.0, and the impact of public opinion on economic and political discourse. This conversation first aired in Noah's substack Noahpinion, so be sure to subscribe if you aren't already.

🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse.

Highlights from the Episode: (for more head to https://www.noahpinion.blog/p/paul-krugman-and-noah-smith-have)

Discussed the transitioning from traditional media (NYT, Bloomberg) to Substack for greater editorial freedom and authentic voice, noting that traditional outlets still maintain an "establishment" mindset.
On Substack, Krugman settlies on 1100 words per post and Noah aims for 2000-2500 words.
Public perception of the economy often shifts dramatically based on political affiliation rather than actual economic conditions.
How the Ukraine war has highlighted the importance of manufacturing capability for national security.
Current Political Climate: Greater concern about current political risks compared to previous eras like the Reagan administration.
Explored how national security concerns are reshaping trade policy thinking.

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SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co

FOLLOW ON X:

@paulkrugman

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@eriktorenberg

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LINKS:

Noahpinion: https://www.noahpinion.blog/

https://www.noahpinion.blog/p/paul-krugman-and-noah-smith-have

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