AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
"Econ 102" with Noah Smith and Erik Torenberg
Preparing for a Second China Shock and Bad Economists with Brad DeLong
Sep 13, 2024
Brad DeLong, a prominent economist, joins the conversation to discuss the looming threat of a 'China Shock 2' and its potential effects on the U.S. economy. He critiques past governmental responses during the first shock, emphasizing lessons learned for future policy. The discussion dives into the ethical implications of wealth in economic disparities and how affluent individuals often evade accountability. They also explore the evolving role of economists post-Great Recession, and the challenges posed by missile defense strategies in ongoing conflicts like the war in Ukraine.
01:11:00
Episode guests
AI Summary
Highlights
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The potential for a 'China Shock 2' is a pressing concern, emphasizing the need for proactive economic strategies to mitigate future disruptions.
- Critiques of the George W. Bush administration reveal how past macroeconomic policy failures have shaped today's economic challenges and responses.
Deep dives
The Impacts of Past Economic Shocks
The discussion revolves around the historical context and consequences of the first China shock, which occurred in the early 2000s. This shock led to a significant increase in manufactured imports from China, dramatically affecting U.S. manufacturing, especially in the Midwest. Employment opportunities for blue-collar male workers, particularly those in older demographic groups, were severely dented as jobs shifted towards construction and service industries in other regions. The impact of these economic changes led to a cultural shift and heightened political tensions, contributing to the political landscape that facilitated the rise of Trump.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
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