Odd Lots cover image

Odd Lots

Adam Posen Has a Warning on the Danger of Bidenomics

Aug 30, 2023
Adam Posen, President of the Peterson Institute for International Economics and former Bank of England committee member, shares insights on the Biden administration's industrial policy. He warns that the push for domestic manufacturing, especially in tech and green sectors, is based on flawed economic logic. Posen critiques the strategy for addressing competition from China, advocating for a more nuanced approach focusing on attracting talent rather than relying on aggressive subsidies. He emphasizes the need for balance in navigating complex geopolitical and economic realities.
49:07

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • The Biden administration's push for domestic manufacturing is driven by concerns over supply chain vulnerability, climate change, and Chinese dominance in key areas.
  • Adam Posen argues that the current approach to domestic industrial policy is flawed and based on a faulty understanding of economic dynamics.

Deep dives

Challenges of Fiscal Policies and Trade Policy

The podcast episode explores how fiscal policies, macro policy, trade policy, and industrial policy are challenging for central bankers to navigate. The discussion focuses on the need for central banks to understand the real economy and respond accordingly, particularly in light of supply chain issues and increased fiscal spending. The episode raises questions about how central banks should respond to the changing landscape of economic policies and the potential impact on monetary policy and inflation.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode