Gordon Hanson, a Harvard Kennedy School economist, discusses the chaotic impacts of President Trump’s tariffs on the economy, highlighting concerns about manufacturing and trade relationships. Mark Blyth, a Brown University professor, delves into the rhetoric of short-term pain for long-term gain while unpacking the complexities of current economic policies. They also explore the intersection of health initiatives and food regulation policy, bringing attention to the challenges of ensuring food safety and the implications of RFK Jr.'s proposals.
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insights INSIGHT
Tariff Instability
Trump's tariff threats are causing market instability, impacting various sectors like agriculture and auto.
These tariffs, part of his "America First" vision, aim to bring back US manufacturing jobs.
insights INSIGHT
Tariff Impact
Tariffs during Trump's first term raised consumer prices without increasing manufacturing jobs.
Retaliatory tariffs from other countries hurt American farmers.
question_answer ANECDOTE
Car Dealer Anecdote
A Fox News clip featured a car dealer complaining about 25% price increases due to tariffs.
This illustrates the immediate impact on the auto industry, which is integrated across North America.
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In this book, Mark Blyth explores the history and intellectual lineage of austerity policies, tracing their roots back to classical economists such as John Locke, David Hume, and Adam Smith. Blyth argues that austerity does not work, especially when implemented during recessions, and that it has exacerbated economic crises, including the European debt crisis. He provides historical examples from the Great Depression and post-World War I Europe, showing how austerity policies worsened economic conditions and contributed to the rise of fascist regimes. The book also critiques the modern advocates of austerity, highlighting the tenuous arguments and thin evidence supporting this policy[1][2][5].
President Trump’s on-again, off-again tariff announcements sent stock markets plunging. On this week’s On the Media, how to make sense of the ever-changing news about the economy. Plus, the policy behind the ‘Make America Healthy Again’ rhetoric.
[01:00] Host Micah Loewinger speaks with Gordon Hanson, an economist at Harvard University’s Kennedy School, about President Trump’s “America First” vision and the potential consequences of his chaotic tariff scheme.
[17:22] Micah sits down with Mark Blyth, a professor at Brown University, who explains the rhetoric about short term pain for long term gains, and what to make of the economy right now.
[35:07] Host Brooke Gladstone speaks with Helena Bottemiller Evich, Editor-in-Chief of Food Fix, to trace the complicated relationship between Republicans and food policy, from the Obama era to RFK Jr.’s “Make America Healthy Again” plan.
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