John Quiggin

John Quiggin, an esteemed Professor of Economics at the University of Queensland and author of "Zombie Economics," dives deep into the world of interest rates and the information economy. He discusses how interest rates reflect our perceptions of value over time and the shift from manufacturing to information-centric business models. Quiggin examines the implications of low interest rates on market dynamics, the ethical challenges of misinformation, and the necessity of public investment for reliable information. A fascinating exploration of economics in our digital age!

John Quiggin, author of Economics in Two Lessons, discusses the flaws in the belief that markets are always correct, highlighting externalities such as unemployment, income inequality, and pollution. He proposes policies to make markets work better by addressing opportunity costs. The podcast covers topics like the concept of opportunity cost, the market's inability to solve pollution issues, addressing income inequality through tax rates, the shift from monopoly to monopsony, and the importance of balanced regulation and property rights.