Preparing for a Second China Shock and Bad Economists with Brad DeLong
In today\u2019s 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.\xa0\n--\n\U0001f525 Apply to join over 400 Founders and Execs in the Turpentine Network: https://www.turpentinenetwork.co/\n--\nRECOMMENDED PODCAST:\n\ufeff\n\U0001f399\ufe0f This Won't Last\xa0- Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics.\nApple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937\nSpotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz\nYouTube: https://www.youtube.com/@ThisWontLastpodcast\n--\nSPONSORS: \n\n\ufeffNetSuite\nMore than 37,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. If you're looking for an ERP platform, get a one-of-a-kind flexible financing program on NetSuite: https://netsuite.com/102\n\nAltea\n\U0001f680Elevate your investment game with Altea by Alts.co. Discover vetted deals in unconventional asset classes, network with captivating individuals, and indulge in exclusive travel experiences. Ready to invest in pro sports teams or film financing? Apply now at www.alts.co/102 and redefine your investment journey.\n\nWorkOS\n\U0001f6e0\ufe0f Building an enterprise-ready SaaS app? WorkOS has got you covered with easy-to-integrate APIs for SAML, SCIM, and more. Join top startups like Vercel, Perplexity, Jasper & Webflow in powering your app with WorkOS. Enjoy a free tier for up to 1M users! Start now at https://bit.ly/WorkOS-Turpentine-Network\n--\nSEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co\n--\nFOLLOW ON X:\n@noahpinion\n@eriktorenberg\n@turpentinemedia\n--\nLINKS:\nNoahpinion: https://www.noahpinion.blog/\nHexapedia links:\nAPPLE - https://podcasts.apple.com/us/podcast/hexapodia-is-the-key-insight-by-noah-smith-brad-delong/id1552990332\nSPOTIFY - https://open.spotify.com/show/2uHLn3k2PrhY3exPs1sUeB\nReferences:\nBrad DeLong: https://braddelong.substack.com/\nSmith, Noah. 2024. \u201cWhy so many of us were wrong about missile defense\u201d. Noahpinion. April 15. \nSmith, Noah. 2024. \u201cTwilight of the economists?\u201d Noahpinion. April 12. \nSmith, Noah. 2024. \u201cThe decade of the Second China Shock\u201d. March 23.\nVinge, Vernor. 1999. A Deepness in the Sky. New York: Tor Books\n\n--\nTIMESTAMPS:\n(00:00)\xa0Intro\n(02:10)\xa0China Shock 2.0\n(07:30)\xa0Debating U.S. policy responses\n(09:59)\xa0China's manufacturing and global trade\n(18:21) Market economies of Europe and Japan\n(22:58) Sponsors: Netsuite | Alts\n(25:02) Importance of taking preemptive actions\n(32:08)\xa0Financial capitalism vs. Industrial policy\n(33:40) Sponsor: WorkOS\n(35:21)\xa0Financial Capitalism and Intel's Struggles\n(35:51)\xa0Critique of economists and economics\n(37:03)\xa0State of the economics profession\n(40:31)\xa0Economists' influence on policy\n(48:18)\xa0Missile defense and Its Implications\n(51:55)\xa0Russia's military strategy and economic constraints\n(59:56)\xa0Future of warfare and economic mobilization\n(01:07:14)\xa0Wrap