Odd Lots

Paul McCulley: We Are "Unambiguously" On The Verge Of A Profound Change In The Economy

Sep 3, 2020

In this conversation with Paul McCulley, former PIMCO managing director, he delves into the shifting landscape of economic policy. He discusses the historical dominance of monetary policies and forecasts a transformative shift towards a more democratically managed economy. The dialogue highlights the interdependence of democracy and capitalism, the limits of traditional monetary policy in fighting inequality, and the need for innovative fiscal strategies amidst changing market conditions. Listeners will rethink investment strategies in light of a potentially inflationary future.

01:00:03

Creator website

Episode guests

Paul McCulley

AI Chapters

Episode notes

Intro

2min

Economic Crossroads: Policy Shifts and Historical Context

12min

The Interdependence of Democracy and Capitalism

3min

Monetary Policy Challenges and Inequalities

22min

Reimagining Fiscal Policy through Technocracy

5min

Rethinking Investment Strategies

18min

The Interplay of Politics and Economics

3min

Paul McCulley is a former Managing Director at PIMCO and a legend of the industry, having helped coin phrases such as "shadow banking" and the "Minsky moment." On this episode, we discuss the history of economic policy ideas, starting with the monetary and supply side revolutions roughly forty years ago, and how they've dominated thinking until today. But the break is coming. He says that we are "unambiguously" on the verge of a profound change to a more democratically managed economy (one more driven by fiscal policy), a change that will have significant changes for the real economy as well as markets and portfolio management.

See omnystudio.com/listener for privacy information.

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.