The Capitalism and Freedom in the Twenty-First Century Podcast

Neale Mahoney, a Stanford Economics Professor and former Special Policy Advisor in the Biden Administration, dives into revealing insights on consumer sentiment and its influence on economic conditions. He discusses the troubling rise of junk fees and their opacity in consumer markets. Mahoney also tackles the serious issue of medical debt, exploring policy initiatives aimed at alleviating financial strain. Finally, he highlights how evidence-based policies can bridge divides, bringing progressive and centrist factions together in support of consumer protection.

Adriana Kugler, a Federal Reserve Governor and former U.S. Executive Director at the World Bank Group, dives deep into US monetary policy and its impact on inflation and labor markets. She discusses the Federal Reserve's balance sheet reduction and its implications for economic stability. Kugler also explains the concept of R-star, the neutral interest rate, and how it relates to productivity and government debt. The conversation highlights optimistic labor market trends while navigating the complexities of inflation targeting in today's economy.

In this engaging conversation, Joe Lonsdale, founder and managing partner at 8VC and co-founder of Palantir Technologies, delves into his impressive career and innovative ventures. He highlights the transformative potential of generative AI in enhancing productivity across sectors like healthcare. Lonsdale critiques the influence of wokeness in education and tech, advocating for reforms in accountability and governance. He also discusses navigating investment opportunities in AI and the unique challenges faced by the University of Austin, aiming to foster critical thinking and classical virtues.

Douglas Irwin, a leading economist from Dartmouth College and expert in trade policy, shares insights on U.S. trade history and the evolution of tariffs. He discusses the impact of globalization on consumers and labor markets and examines the fading influence of the World Trade Organization. Irwin analyzes recent U.S. actions affecting steel imports and delves into the resilience of the U.S. dollar amidst global shifts, highlighting ongoing complexities in semiconductor trade policy and its implications for national security.

In this discussion, David Beckworth, a Senior Research Fellow at the Mercatus Center, dives into the fascinating world of monetary policy. He shares insights from his career and compares Nominal GDP targeting with traditional inflation targeting. The conversation highlights how GDP targeting could stabilize economies better during downturns and the challenges of using accurate data for policy decisions. Additionally, they explore the Fed’s evolution in addressing inflation and how shifting to a floor system impacts global central banks.

Myron Scholes, a Nobel Laureate and co-originator of the Black-Scholes options pricing model, shares his remarkable journey from a mining town in Canada to the forefront of financial economics at the University of Chicago. He discusses the transformative impact of his model on options trading and investment banking, and the challenges faced during its development. Scholes also delves into the interplay between financial regulation and innovation, emphasizing the need for adaptability in an ever-evolving market landscape.

Brad Gerstner, Founder and CEO of Altimeter Capital, shares insights on his journey from Indiana to managing over $15 billion in tech investments. He discusses the role of free markets in economic growth, the challenges of navigating law and innovation, and the impact of the CHIPS Act on national security. Gerstner also proposes 'baby equities,' investment accounts for children to foster financial literacy and bridge wealth gaps, envisioning a brighter economic future for the next generation.

James Bullard, former president of the St. Louis Fed and dean at Purdue University, shares insights from his extensive career in monetary policy. He highlights key transformations in the Fed’s leadership under Bernanke and the importance of diverse economic perspectives. The conversation also covers the critical role of forward guidance during the Great Recession and recent inflation challenges. Bullard emphasizes the need for credible communication in monetary policy and discusses innovative approaches in business education that blend technology with traditional learning.

Jesus Fernández-Villaverde, a renowned Economics Professor at UPenn and director at Penn's Institute for the Study of Markets, dives into pressing economic themes with host Jon Hartley. They tackle the alarming decline in fertility rates and how this impacts global GDP growth, particularly in Japan. Fernández-Villaverde discusses the evolution of economic models, illustrating the differences between DSGE and VAR approaches. They also explore the complexities of macroeconomic theory, including the challenges of recessions and the critical role of institutions and economic education.

David Malpass, the former president of the World Bank and seasoned economist, shares insights on global finance and economic challenges. He discusses China's changing role in international lending, critiquing its opaque agreements impacting developing nations. The conversation highlights the effects of COVID-19 on vaccine distribution and sovereign debt relief. Malpass addresses inflation's impact on economic growth and climate policy while urging a reassessment of monetary strategies to tackle poverty and climate issues holistically.