"Econ 102" with Noah Smith and Erik Torenberg
The New Axis, Neoliberalism, and Germany [Mailbag]
Sep 5, 2024
In this lively discussion, listeners hear about the surprising vibrancy of Poland's economy and its cultural spirit. The hosts dive into the reliability of economists as predictors and China's evolving industrial strategies. They explore complex geopolitical dynamics, including potential US-China conflicts and the advantages for smaller nations. The dialogue extends to the challenges of drug pricing and taxation in the U.S., as well as Germany's energy policies and the legacy of neoliberalism, sparking ideas for new economic frameworks.
57:38
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Quick takeaways
- Economists have demonstrated their value in real-world applications, debunking myths about their predictive shortcomings despite challenges in macroeconomic forecasting.
- China's industrial strategy highlights a competitive approach centered on substantial subsidies, raising concerns for developing nations navigating global economic dynamics.
Deep dives
Poland's Economic Growth
Poland is experiencing significant economic growth, as reflected in the enthusiastic sentiments of its people about maintaining ongoing development. The country, particularly Warsaw, showcases modern infrastructure and a vibrant atmosphere that contradicts perceptions of it being less beautiful. Visitors can see a community actively engaged in discussions about sustainable growth and future opportunities. This local excitement mirrors the trends observed in other rapidly developing economies.
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