"Econ 102" with Noah Smith and Erik Torenberg

You Can't Tariff Your Way to Greatness

114 snips
May 2, 2025
Dive into the intriguing relationship between nostalgia and political ideologies in both the U.S. and China. The discussion reveals how collective historical narratives shape consumer cultures and industrial strategies. Tariffs take center stage as they analyze their disruptive impacts on economies and working-class individuals. Cultural nuances, such as the significance of saving face in negotiations, add depth to U.S.-China relations. Finally, the critique of tariffs raises questions about their effectiveness in re-industrializing America and promoting growth.
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INSIGHT

Nostalgia's Motivational Power

  • Nostalgia motivates people by connecting them to imagined ancestral greatness.
  • Yet, modern achievements like AI and robotics surpass ancient civilizations in impact.
INSIGHT

China vs America on Cultural Roots

  • China sees its long civilization as Lindy, making past greatness a promise of future glory.
  • America, younger and progressive, ties its pride to European heritage and future innovation.
INSIGHT

Cultural Convergence of US-China

  • Both China and the U.S. replaced ancestral cultures with modern consumer culture.
  • This cultural shift makes China more similar to America than to Europe or Germany.
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