The Reason Interview With Nick Gillespie

Jason Furman: Why Everyone Is Wrong About the Economy

24 snips
Apr 16, 2025
Guest
Jason Furman
Jason Furman, a Harvard economist and former adviser to President Obama, critiques Bidenomics and the failures of neoliberalism. He discusses the consequences of tariffs from the Trump era, emphasizing that they function as taxes. Furman expresses new concerns about national debt and the impact of AI on the economy, highlighting the need for accountability in fiscal policies. Additionally, he explores the challenges of reforming Social Security and Medicare while revisiting his views on Keynesian economics and the ongoing evolution of economic thought.
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INSIGHT

Defining Neoliberalism's Core Values

  • Neoliberalism values gains from trade, decentralized decisions, and scarcity-driven tradeoffs.
  • It requires careful analysis rather than automatic answers to economic questions.
INSIGHT

Bidenomics Shifts From Neoliberalism

  • Biden's policies and rhetoric have shifted away from market-friendly neoliberalism.
  • His administration took a turn against core neoliberal economic principles compared to Obama.
INSIGHT

Trump Rejects Economic Trade Logic

  • Trump's rejection of economic analysis drives his trade policy and tariffs.
  • Economic gains from trade are often ignored in favor of nostalgic and populist appeals.
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