Preparing for a Second China Shock and Bad Economists with Brad DeLong

"Econ 102" with Noah Smith and Erik Torenberg

In today’s episode, Noah Smith and Brad DeLong tackle pressing topics such as the potential for a 'China Shock 2', the effectiveness of missile defense systems, and the shifting role of economists since the Great Recession. They also explore the nuances of economic theory, policy implementation, and real-world outcomes, particularly in a fast-paced information age.

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FOLLOW ON X:

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LINKS:

Noahpinion: https://www.noahpinion.blog/

Hexapedia links:

APPLE - https://podcasts.apple.com/us/podcast/hexapodia-is-the-key-insight-by-noah-smith-brad-delong/id1552990332

SPOTIFY - https://open.spotify.com/show/2uHLn3k2PrhY3exPs1sUeB

References:

Brad DeLong: https://braddelong.substack.com/

Smith, Noah. 2024. “Why so many of us were wrong about missile defense”. Noahpinion. April 15.

Smith, Noah. 2024. “Twilight of the economists?” Noahpinion. April 12.

Smith, Noah. 2024. “The decade of the Second China Shock”. March 23.

Vinge, Vernor. 1999. A Deepness in the Sky. New York: Tor Books

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TIMESTAMPS:

(00:00) Intro

(02:10) China Shock 2.0

(07:30) Debating U.S. policy responses

(09:59) China's manufacturing and global trade

(18:21) Market economies of Europe and Japan

(22:58) Sponsors: Netsuite | Alts

(25:02) Importance of taking preemptive actions

(32:08) Financial capitalism vs. Industrial policy

(33:40) Sponsor: WorkOS

(35:21) Financial Capitalism and Intel's Struggles

(35:51) Critique of economists and economics

(37:03) State of the economics profession

(40:31) Economists' influence on policy

(48:18) Missile defense and Its Implications

(51:55) Russia's military strategy and economic constraints

(59:56) Future of warfare and economic mobilization

(01:07:14) Wrap