Plain English with Derek Thompson

Douglas Irwin, an esteemed economist and historian from Dartmouth, delves into the infamous Smoot-Hawley Tariff and its catastrophic role in deepening the Great Depression. He discusses how this 1930 legislation, intended to protect American farmers, backfired spectacularly, illustrating the pitfalls of misguided protectionism. Irwin reflects on Herbert Hoover’s struggle between party loyalty and economic reality, the tariff's international repercussions, and the complex legacy it left that still resonates in today's economic debates.

Matthew Klein, author of ‘The Overshoot’ newsletter and coauthor of ‘Trade Wars Are Class Wars,’ joins to dissect Donald Trump's tariff strategy. Klein illuminates how these tariffs disrupt global markets and examines their intended outcomes amidst economic turmoil. They discuss the flawed methodologies behind the tariffs, critique their effectiveness in fostering American manufacturing, and explore alternatives like the Bipartisan Chips and Science Act. The conversation also highlights the importance of understanding trade dynamics within a historical context.

Rogé Karma, a staff writer for The Atlantic, and Harvard economist Jason Furman dive into the tumultuous world of Trump's economic strategies. They discuss unpredictable tariff policies and their chaotic impact on global alliances and American manufacturing. The duo questions whether Trump's approach is genuinely strategic or driven by his personality. They explore the inconsistent nature of economic decisions and how these policies create uncertainty, ultimately leaving listeners pondering the future of the global economy.

In this discussion, Richard White, an award-winning historian and author of ‘The Republic for Which It Stands,’ delves into the complexities of the Gilded Age, a transformative era rife with corruption and industrial boom. He examines the ruthless tactics of titans like Rockefeller and Carnegie, the ethical dilemmas they faced, and how government and monopoly intertwined. The conversation also touches on the legacy of this period, the contrasting lives of elites versus the struggles of the working class, and the implications for modern society.

Ezra Klein, a New York Times columnist and co-author of 'Abundance,' dives into the contrasts between scarcity and abundance. He critiques the current administration's scarcity agenda impacting healthcare and housing, advocating for a mindset shift to foster economic growth. The conversation explores the synergy between urban innovation and housing policy, emphasizing their roles in shaping a hopeful future. Klein also discusses the Democratic Party's need for effective governance as it navigates challenges heading toward the 2024 election.

Kyla Scanlon, a financial commentator and trendsetter on platforms like TikTok and Instagram, shares her insights on Gen Z's unique identity. She discusses the generational shift in political views, highlighting how many young people feel anxious about achieving the American Dream. The conversation touches on their relationship with technology, the tension between creativity and algorithmic pressures, and how economic challenges shape their perspectives on work and trust in institutions. Kyla also explores the fascinating concept of 'Fafonomics' in investment behaviors.

Vinod Balachandran, a leading surgical oncologist at Memorial Sloan Kettering, discusses groundbreaking advancements in pancreatic cancer research. He explains how cancer, especially pancreatic cancer, cleverly disguises itself from the immune system. Excitingly, new mRNA-based personalized vaccines are showing promising results, with 75% of responding patients becoming cancer-free after three years. He also highlights innovations like an 85% accurate blood test for early detection, providing hope in the fight against this formidable disease.

Mark Henry Phillips, a talented film and podcast composer, joins to discuss the rapid evolution of AI in music. The conversation dives into how AI tools can create songs, raising questions about the future of music composition. Phillips shares his experiences and worries that AI may replace human creativity. They explore the complexities of copyright law and the ethics surrounding AI-generated music. Ultimately, the discussion challenges our understanding of inspiration versus imitation in art and creativity.

This engaging conversation features Rose Horowitch, an Atlantic staff writer, and Nat Malkus, a scholar focused on education policy. They delve into the alarming decline of reading in America, noting a drop in leisure reading by half this century and concerning literacy scores for younger students. The guests examine how societal shifts towards multimedia are impacting critical thinking and argue for the importance of deep reading in fostering analytical skills. They also discuss proactive measures educators are taking to reignite a passion for reading among students.

Yoni Appelbaum, the deputy executive editor of The Atlantic and author of 'Stuck,' discusses the stagnation of the American economy and housing market. He highlights the paradox of low unemployment yet declining hiring rates, revealing how many are working but few are hiring. Yoni outlines the challenges first-time homebuyers face with high interest rates and the record median age of 38. He also addresses the significant drop in migration and how progressive policies have altered the American Dream, ultimately limiting social mobility and opportunities.