"Econ 102" with Noah Smith and Erik Torenberg

Natalie Toren

Economist and writer Noah Smith and investor Erik Torenberg make sense of what’s happening in the news, technology, business, and beyond, through the lens of economics

  • 59 minutes 42 seconds
    You Can't Tariff Your Way to Greatness

    This week, Noah Smith and Erik Torenberg explore how nostalgia influences politics and economic policy in the US and China, comparing their consumer cultures, industrial strategies, and the complex effects of tariffs on domestic economies and global relations.


    RECOMMENDED PODCAST:  Tools and Weapons with Brad Smith

    Join Microsoft Vice Chair Brad Smith as he explores tech's impact on society with Bill Gates and Satya Nadella sharing untold stories and insights on Microsoft's AI-fueled future.

    Spotify: ⁠https://open.spotify.com/show/4bYASdhkHwovdSmU4YAjYg⁠

    Apple: ⁠https://podcasts.apple.com/us/podcast/tools-and-weapons-with-brad-smith/id1632459165⁠


    SPONSORS:

    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: ⁠https://netsuite.com/102⁠


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    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

    If you think Americans are mad now, just wait a few months: https://www.noahpinion.blog/p/if-you-think-americans-are-mad-now

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


    TAKEAWAYS:

    Nostalgia in Politics: They discussed the role of nostalgia in politics, both in the US and China.

    Cultural Evolution: US and China: Noah argues China and America are more culturally similar than America and Germany due to both having replaced ancestral cultures with mass consumerism.

    Tariffs and Economic Impact: The conversation analyzes Trump's tariff policies and their economic consequences.

    US-China-Europe Relations: Europe may increasingly partner with China economically as US relations deteriorate.

    Economic Consequences of Trade Policy: Noah argues tariffs don't reindustrialize a country but actually deindustrialize it.





    2 May 2025, 7:00 am
  • 43 minutes 11 seconds
    The Deindustrialization Paradox

    This week, Noah Smith and Erik Torenberg explore topics ranging from the futuristic themes of Black Mirror and the societal impact of technology to a critical analysis of Trump’s de-industrializing tariff policies versus Biden’s growth-focused subsidies, while also examining libertarianism’s influence on American politics and the cultural shifts it may entail.


    RECOMMENDED PODCAST:  Tools and Weapons with Brad Smith

    Join Microsoft Vice Chair Brad Smith as he explores tech's impact on society with Bill Gates and Satya Nadella sharing untold stories and insights on Microsoft's AI-fueled future.

    Spotify: https://open.spotify.com/show/4bYASdhkHwovdSmU4YAjYg

    Apple: https://podcasts.apple.com/us/podcast/tools-and-weapons-with-brad-smith/id1632459165


    SPONSORS:

    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    AdQuick

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    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

    Worst-case scenarios and endgames for the Trump economy: https://www.noahpinion.blog/p/worst-case-scenarios-and-endgames

    In which I review almost every episode of Black Mirror: https://www.noahpinion.blog/p/in-which-i-review-almost-every-episode

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


    TAKEAWAYS:

    • Trump Administration Policies Discussion: Noah contrasts Trump's first term (pre-2019) with his expectations for the current term.
    • Biden Administration's Industrial Policy Approach: Noah highlights the different approach under Biden: adding support rather than disrupting existing systems.
    • Political and Economic Commentary: There's a discussion about Oren Cass (identified as a "conservative econ blogger" with a law degree) and his positions on industrial policy and tariffs.
    • Social Media's Impact on American Society: Noah presents a theory that America was "uniquely vulnerable" to social media's effects due to its geographical and ideological diversity.
    • Personal and Cultural Notes: The beginning features a discussion about the TV show "Black Mirror" and its exploration of technology implications.
    24 April 2025, 7:00 am
  • 56 minutes 32 seconds
    The Bond Market Rules Everything

    This week, Noah Smith and Erik Torenberg discuss the Trump administration’s trade policies, their impact on U.S. manufacturing and investment, discussing strategies to counter China’s influence through multi-country trade blocs and industrial policy, and examining currency dynamics, economic default risks, and the complexities of global trade.


    RECOMMENDED PODCAST:  Tools and Weapons with Brad Smith

    Join Microsoft Vice Chair Brad Smith as he explores tech's impact on society with Bill Gates and Satya Nadella sharing untold stories and insights on Microsoft's AI-fueled future.

    Spotify: https://open.spotify.com/show/4bYASdhkHwovdSmU4YAjYg

    Apple: https://podcasts.apple.com/us/podcast/tools-and-weapons-with-brad-smith/id1632459165


    SPONSORS:

    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    AdQuick

    The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.


    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

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


    TAKEAWAYS:

    • Trade Policies: Noah describes the current administration's trade policies, particularly tariffs, as chaotic and poorly planned, comparing it to a "clown car" approach.
    • Economic Impacts of Recent Trade Policies: Tariffs and trade uncertainty are hurting the economy by creating business uncertainty that discourages investment, disrupting supply chains for manufacturers reliant on imported components, and driving capital flight that raises borrowing costs through the selling of U.S. treasuries.
    • Why Exports Matter: Noah emphasizes that exports (approximately $2.1 trillion worth) are crucial to the US economy.
    • On Currency Strength: Noah explains that a strong dollar has both advantages (increased purchasing power) and disadvantages (makes exports less competitive).
    • China Containment Strategy: Noah proposes an effective China containment strategy focused on creating a zero-tariff trade bloc among allied nations, building complete supply chains across friendly countries, targeting China with value-added tariffs rather than just final assembly tariffs, investing in industrial policy to strengthen key industries, and applying export controls strategically.
    18 April 2025, 7:00 am
  • 57 minutes 44 seconds
    Tariff Mayhem and Capital Flight

    This week, Noah Smith and Erik Torenberg analyze the global repercussions of Trump’s broad tariff policies, critique misconceptions about trade deficits, and explore the economic fallout and potential policy responses.


    RECOMMENDED PODCAST:  Tools and Weapons with Brad Smith

    Join Microsoft Vice Chair Brad Smith as he explores tech's impact on society with Bill Gates and Satya Nadella sharing untold stories and insights on Microsoft's AI-fueled future.

    Spotify: https://open.spotify.com/show/4bYASdhkHwovdSmU4YAjYg

    Apple: https://podcasts.apple.com/us/podcast/tools-and-weapons-with-brad-smith/id1632459165



    SPONSORS:


    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    AdQuick

    The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.


    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

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

    All the arguments for Trumps Tariffs are wrong and bad: https://www.noahpinion.blog/p/all-the-arguments-for-tariffs-are

    This is called Capital Flight: https://www.noahpinion.blog/p/this-is-called-capital-flight


    TAKEAWAYS:

    • Tariff Policy Analysis: They discuss the implementation of widespread tariffs, particularly focusing on how the administration set tariff rates without sound economic methodology, possibly using AI to generate justifications.
    • Trade Deficit Misconception: Noah explains that trade deficits are often misunderstood - they're essentially loans where a country buys goods and provides IOUs (bonds) in return, not necessarily harmful to an economy.
    • Manufacturing Impact: They argue that tariffs may actually harm domestic manufacturing by making imported components, machinery, and raw materials more expensive, potentially leading to de-industrialization rather than re-industrialization.
    • International Relations: The discussion covers how trading partners are responding, with China imposing reciprocal high tariffs, while noting that many countries will likely seek alternative export markets rather than capitulate to demands.
    • Long-term Economic Outlook: The discussion paints a concerning picture of potential rising unemployment, continued market volatility, and possible inflation depending on which economic forces (panic or inefficiency) prove stronger.
    14 April 2025, 8:45 am
  • 1 hour 9 minutes
    The New Left vs The New Right

    This week, Noah Smith and Erik Torenberg explore the rise of the 'abundance' ideology among Democrats, assess Obama's economic legacy, and analyze the New Right's evolving influence, offering a broad perspective on shifting political and economic discourse.


    RECOMMENDED PODCAST:  Tools and Weapons with Brad Smith

    Join Microsoft Vice Chair Brad Smith as he explores tech's impact on society with Bill Gates and Satya Nadella sharing untold stories and insights on Microsoft's AI-fueled future.

    Spotify: https://open.spotify.com/show/4bYASdhkHwovdSmU4YAjYg

    Apple: https://podcasts.apple.com/us/podcast/tools-and-weapons-with-brad-smith/id1632459165


    SPONSORS:

    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    AdQuick

    The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.


    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

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

    Cory McArthur aka Irish Lotus: https://soundcloud.com/cory-mcarthur-879994262/irish-lotus


    TAKEAWAYS:

    • "Abundance" as a Political Concept: Abundance represents national unity and a "we're all in this together" approach, focusing on making things better for all Americans rather than pitting groups against each other.
    • Economic Analysis: Demand vs. Supply Constraints: They discuss how the 2008 financial crisis created an "aggregate demand shock" where everyone wanted to hold cash rather than spend.
    • National Debt Discussion: They discuss how US debt grew from 60% to 100% of GDP during Obama's administration. They also mention AI could potentially help by increasing productivity growth.
    • "The New Right" Ideology: Noah characterizes the "new right" as centered around defending "Western civilization" in a more narrow sense than previous definitions.
    • Social Media's Impact on Politics: Noah argues that small, vocal minorities on social media have outsized influence on institutions.
    1 April 2025, 7:30 am
  • 1 hour 1 minute
    Abundance Debate, Sex Politics, and Left vs Right Economic Populism

    This week, Noah Smith and Erik Tornberg explore Japan’s economic and societal structure—covering urban zoning, housing policy, and government efficiency—before critiquing Abundance by Ezra Klein and Derek Thompson, advocating for balanced market dynamics and governance, and discussing broader socio-political themes like right-wing ideologies, gender in the workforce, and economic populism.


    SPONSORS:

    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    Found

     Found provides small business owners tools to track expenses, calculate taxes, manage cashflow, send invoices and more. Open a Found account for free at https://found.com/econ102


    AdQuick

    The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.


    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

    Abundance: https://www.amazon.com/Abundance-Progress-Takes-Ezra-Klein/dp/1668023482

    I have written a book!: https://www.noahpinion.blog/p/i-have-written-a-book

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


    TAKEAWAYS:

    • Japan's Urban Development Success: Japan's efficient housing development stems from streamlined approvals, standardized zoning, administrative processes, and mixed-use zoning.
    • Abundance Agenda Discussion: Noah analyzed Ezra Klein and Derek Thompson's "Abundance" book, which promotes a results-oriented progressive approach focused on building things.
    • Government Structure and Process: Successful governance needs both market mechanisms and effective bureaucracy.
    • Political Factions and Resistance: Discussion of different progressive factions (Warren vs. Bernie supporters).
    • The "Doge" Discussion: References to "Doge" (likely Project 2025) as an ideological effort to reduce bureaucracy.
    25 March 2025, 7:00 am
  • 54 minutes 8 seconds
    How Europe, America and China are Repositioning

    This week, Noah Smith and Erik Torenberg explore global economic issues, including US-European relations influenced by defense commitments, the impact of Trump’s policies, China’s Belt and Road Initiative and its exclusion of India, the role of AI in economic growth, government spending’s effects on GDP, and briefly discuss Smith’s upcoming book, Weeb Economy, and Noah's trip to Japan.


    SPONSORS:

    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    Found

     Found provides small business owners tools to track expenses, calculate taxes, manage cashflow, send invoices and more. Open a Found account for free at https://found.com/econ102


    AdQuick

    The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.


    Incogni

    Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: https://incogni.com/econ102


    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

    Weeb Economy: https://bookplus.nikkei.com/atcl/catalog/25/03/02/01880/

    I have written a book!: https://www.noahpinion.blog/p/i-have-written-a-book

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


    TAKEAWAYS:

    • U.S.-Europe Relations & Geopolitical Shifts: Examines the U.S. shift away from supporting Europe, debating whether it was exploited or harming its own interests, with Trump’s strength-focused foreign policy potentially pivoting toward Russia, risking economic and intelligence ties with Europe.
    • China's Economic Strategy & Globalization: The Belt and Road Initiative has largely failed, with poorly executed projects and unsustainable debt burdens for recipient countries.
    • India's Industrialization & Economic Future: India needs a major shift in labor dynamics, particularly increasing women's participation in factory work.
    • AI, Economic Growth & the O-Ring Theory: AI’s impact on economic growth is debated—some expect 10% growth, while Noah sees 5% as more realistic.
    • Japan’s Economy & Currency Strength: Japan should push for a new Plaza Accord with the U.S. to strengthen the yen.
    • AI’s Impact on Jobs & Productivity: AI is unlikely to eliminate all jobs but will require major adjustments in industries and legal structures.
    18 March 2025, 9:00 am
  • 1 hour 4 minutes
    Making Sense of America's Tariff Chaos

    This week, Noah Smith and Erik Torenberg discuss the chaos caused by Trump's trade policies, tariffs' effects on the U.S. economy, potential recession risks, economic isolationism, policy uncertainty, investment impacts, and the broader cultural and societal shifts in America, including the decline of Christianity, the rise of wokeness, and community disintegration.


    SPONSORS:


    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    Found

     Found provides small business owners tools to track expenses, calculate taxes, manage cashflow, send invoices and more. Open a Found account for free at https://found.com/econ102


    AdQuick

    The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.


    Incogni

    Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: https://incogni.com/econ102


    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]


    FOLLOW ON X:

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

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


    TAKEAWAYS:

    • Economic Impact of Trump's Tariffs: Noah argues that Trump's tariffs (especially on Canada and Mexico) are damaging the US economy more severely than the China tariffs from his first term.
    • Why Tariffs Are Harmful: Factors such as reduced market scale for American companies, loss of specialization benefits, technological isolation ("Galapagos Syndrome"), policy uncertainty hindering business investment, and the negative impact on exports due to exchange rate effects and retaliatory tariffs are all contributing challenges.
    • Macroeconomic Uncertainty: Debate about whether tariffs will cause stagflation or a demand shock that lowers inflation.
    • Cultural and Social Commentary: Discussion of Ennis Lyons' argument about "the return of the strong gods" (nationalism, family, tradition, religion).
    • Innovation and National Success: Discussion about Japan's impressive innovation record (extensive list of Japanese inventions)
    12 March 2025, 10:00 am
  • 39 minutes 39 seconds
    AI, Stargate, & Surveillance with Auron McIntyre and Lev Polyakov

    In this episode, Noah Smith recently went on the Break the Rules podcast, hosted by Lev Polyakov, for a debate with Auron MacIntyre. They discuss the societal implications of AI development, focusing on Trump's relationships with tech leaders, AI systems like Stargate, surveillance, economic productivity, regulatory measures, geopolitical competition, and immigrant labor's role in technological advancements.


    RECOMMENDED PODCAST:

    🎙️Break The Rules - Hosted by Lev Polyakov, Break The Rules brings different online & offline circles together at a time of social atomization in order to break echo-chambers.


    Apple Podcasts: https://podcasts.apple.com/us/podcast/break-the-rules/id1543233584

    Spotify: https://open.spotify.com/show/0yovF9Vo8n1fF1DGlMuWBh

    YouTube: https://www.youtube.com/@breakth3rules/


    SPONSORS:

    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    Found

     Found provides small business owners tools to track expenses, calculate taxes, manage cashflow, send invoices and more. Open a Found account for free at https://found.com/econ102


    AdQuick

    The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.


    Incogni

    Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: https://incogni.com/econ102


    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @LevPo

    @AuronMacintyre

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

    Trump Liberty or Technocracy? Auron Macintyre & Noah Smith: https://www.youtube.com/live/pH_nuk94FQk?si=D-5qvd74cpBSjwfm

    The Total State: How Liberal Democracies Become Tyrannies: https://www.amazon.com/dp/1684515580ref_=cm_sw_r_cp_ud_dp_5Q231Q8CQ65W8Z0PTQ3H

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


    TAKEAWAYS:

    • AI Development and Trump Administration: The discussion examines Donald Trump's meetings with tech leaders and the "Stargate" AI system, raising questions about whether the administration will embrace technocratic control systems or maintain populist principles.
    • Labor Market Effects: Noah points out that despite previous AI advances, we've seen wage increases for lower-skilled workers and movement toward higher-skilled jobs, challenging assumptions about AI's negative impact on employment.
    • Oligarchic Influences: Auron describes the current political landscape as an "age of oligarchy" where different factions of wealthy interests compete for influence, with Trump balancing populist rhetoric against tech billionaire support.
    • Civilization Complexity Theory: Auron references Joseph Tainter's theory on how increasing complexity with diminishing returns contributes to civilizational collapse, suggesting AI may be an attempt to escape these human limitations.
    • Immigration Comparisons: Noah argues that despite current debates about immigration, America faces fewer ethnic tensions than 100 years ago, providing historical perspective on current social challenges.
    6 March 2025, 9:30 am
  • 1 hour 17 minutes
    Richard Hanania & Noah Smith: Making Sense of Trump, Elon, and Global Politics

    This week, we're sharing Richard Hanania and Noah Smith’s live conversation from Feb 6th,  recorded for their Substack audiences. This is the first time the two writers have met, and in this conversation they covered fundamental differences between the American right and left movements. They also discuss Elon Musk's positioning as the future Republican kingmaker and Noah's theory that Musk envisions coordinating a global "anti-woke alliance" with Putin and Xi.


    SPONSORS:

    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    Found

     Found provides small business owners tools to track expenses, calculate taxes, manage cashflow, send invoices and more. Open a Found account for free at https://found.com/econ102


    AdQuick

    The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.


    Incogni

    Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: https://incogni.com/econ102


    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @RichardHanania

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED IN THIS EPISODE:

    Richard Hanania’s Newsletter: https://www.richardhanania.com/ 

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

    Too many Americans still fear the future: https://www.noahpinion.blog/p/too-many-americans-still-fear-the 

    The chaos has arrived: https://www.noahpinion.blog/p/the-chaos-has-arrived 

    Trump's Executive Branch Revolution: https://www.richardhanania.com/p/trumps-executive-branch-revolution 

    Trump impose large tariffs in first year?: https://manifold.markets/RichardHanania/trump-impose-large-tariffs-in-first?play=false 


    TAKEAWAYS:

    • Richard notes Trump's first administration achieved success with Middle East normalization agreements.
    • Noah compares Ukraine war to Finland's Winter War - Ukraine may lose territory but maintain independence.
    • Richard questions whether taking NATO membership off the table could have prevented the Ukraine conflict.
    • Right-wing politics revolves around personal loyalty while left-wing politics centers on ideological purity.
    • Elon Musk is positioning himself as the kingmaker for the post-Trump Republican party.
    • Richard supports technological progress, believing future generations should benefit from AI and genetic engineering.
    • Noah argues societies that resist technological progress inevitably get left behind in global competition.
    • Richard expresses skepticism about Democrats' ability to reform, citing Obama's failed education reform efforts.
    • Noah predicts Democrats won't move away from "institutional wokeness" until the 2030s.
    28 February 2025, 8:00 am
  • 1 hour 2 minutes
    Elon calls Noah a Liar, Inflation, and Changes Democrats Need to Make

    This week Noah Smith and Erik Torenberg discuss three key areas where Democrats need to rethink their strategy: embracing anti-inflation policies similar to the Clinton era, focusing on genuine threats to democracy rather than partisan hobby horses, and abandoning progressive language policing that alienates voters. Noah also talks about how Elon Musk has transformed Republican effectiveness by bringing entrepreneurial talent to politics, arguing that Democrats need to stop alienating tech entrepreneurs and instead recruit similar talent to their side.


    SPONSORS:


    NetSuite

    More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102


    AdQuick

    The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.


    Found

     Found provides small business owners tools to track expenses, calculate taxes, manage cashflow, send invoices and more. Open a Found account for free at https://found.com/econ102


    Incogni

    Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: https://incogni.com/econ102


    SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]

    FOLLOW ON X:

    @noahpinion

    @eriktorenberg

    @turpentinemedia


    RECOMMENDED PODCAST:

    🎙️ Second Opinion

    Join Christina Farr, Ash Zenooz and Luba Greenwood as they bring influential entrepreneurs, experts and investors into the ring for candid conversations at the frontlines of healthcare and digital health every week.

    Spotify: https://open.spotify.com/show/0A8NwQE976s32zdBbZw6bv 

    Apple: https://podcasts.apple.com/us/podcast/second-opinion-with-christina-farr-ash-zenooz-md-luba/id1759267211 

    YouTube: https://www.youtube.com/@SecondOpinionwithChristinaFarr


    TAKEAWAYS:

    • Democrats can capitalize on the mistakes of their opponents, particularly regarding economic policies.
    • The perception of inflation is a significant issue for voters, and Democrats need to address it effectively.
    • Defending democracy is crucial, but Democrats must focus on the actual threats rather than long-term issues like gerrymandering.
    • The Democratic Party needs to reassess its progressive ideals and messaging to resonate with a broader audience.
    • Cultural shifts, such as language policing, can alienate potential supporters for the Democratic Party.
    • The entrepreneurial class holds significant power and talent that Democrats should engage with.
    • Democrats need to communicate a patriotic vision of America to counter negative narratives.
    • The trans movement is distinct from other civil rights movements and requires a nuanced approach.
    • A clear and assertive stance on America's founding principles can help Democrats regain credibility. Young people are increasingly forming situationships instead of traditional relationships.
    • The Inflation Reduction Act was more about political maneuvering than actual inflation reduction.
    • Biden's economic policies have effectively reduced inflation through various measures.
    • Democracy is threatened not just by election denial but by the erosion of checks and balances.
    • A new economic paradigm is needed that addresses modern challenges and national security.
    • Deregulation is essential for economic growth and should be prioritized.
    • The bureaucratic model in Japan could offer insights for improving U.S. governance.
    • Elon Musk's approach to government may be influenced by right-wing media rather than policy experts.
    • A pluralistic social media ecosystem is emerging as people seek alternatives to traditional platforms.
    • There is potential for a smarter Democratic party in response to the changing political landscape.
    26 February 2025, 8:00 am
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