Plain English with Derek Thompson BONUS POD: The Future of Democracy, the Media, and the Economy With Andrew Yang
Dec 4, 2021
Andrew Yang, former presidential candidate and Forward Party founder, joins for an insightful discussion on democracy and the economy. They tackle 'kaboomflation'—the duality of economic growth and inflation—along with the labor market's evolution post-pandemic. The impact of remote work on urban economies is explored, alongside technology's role in shaping media and civic engagement. Yang highlights the need for diverse political representation and the appeal of Universal Basic Income as a solution to political polarization.
AI Snips
Chapters
Transcript
Episode notes
Kaboomflation
- The current economy presents a confusing picture: positive indicators like low unemployment are offset by concerning trends like high inflation.
- This situation, dubbed "kaboomflation," differs from the stagflation of the 1970s due to the current economy's accelerating growth.
Labor Market Dynamics
- Despite low unemployment, millions are missing from the workforce, potentially due to pandemic-related factors like health concerns and childcare issues.
- Wage growth is strongest for low-income workers as businesses raise wages to attract and retain employees.
Remote Work Revolution
- Remote work is here to stay, even if only a small percentage of workers continue remotely.
- This seemingly minor shift can have large impacts on cities and businesses, affecting areas like commercial rents and consumer spending.