The speaker discusses the flawed understanding of economics and money in society, citing that the low velocity of money and low inflation rate justify printing trillions of dollars, while the velocity of money through the crypto economy is 10,000 times faster than the consumer economy.
This podcast discusses the idea that controlling inflationary psychology is crucial to preventing economic downturns in the future. It examines how people's beliefs about inflation and their behaviors towards it ultimately impact the economy.
The accuracy of economic predictions is debated as economists attempt to analyze and solve economic puzzles, but differing opinions among experts suggest that the field may not have a definite grasp on certain aspects of the economy.
Economist Friedrich Hayek argues that the task of economics is to show people how little they actually know about what they think they can design. He cautions against people with grand theories of how the world works, comparing them to chess players who move people around without considering their individual autonomy.
The belief that printing money can solve the economic problems is a fallacy that does not lead to prosperity, but it results in inflation and eventually makes people worse off. There are no free lunches in the economy, and the addiction to universal income or subsidy can lead to permanent programs that only maintain the lifestyle people got accustomed to.
In this episode, the host explains how the Federal Reserve Bank's money printing strategy in 2020 to combat deflation has led to inflation and higher unemployment rates.
Discussion about the economics of small towns, including the average price of buildings and the tendency for individuals to hold out on selling.
An analysis of the economic situation in Somalia and its connection with piracy activity in the region.
This podcast discusses how the ancient human institution of bondage mixed with the proto-modern economic system of the Renaissance in the 15th and 16th centuries, and how this contributed to the era of a trade revolution. It explores the idea that progress during this time wasn't necessarily progress for all people, as slavery and inequality were still rampant.
The host introduces new guests from the research department, Alexa and Takara, to the economics podcast. They are known to provide critical insight and correct any misinformation presented on the program.
The idea of building lavish buildings during economic downturns may not seem like a good idea, but in reality, it has been done in many places. This includes modernizing Ashgabat and building Koh Tao as a paradise island during economic downturns.
The traditional response in economics towards exhausted resources and environmental consequences involved relying on the free market but failed to understand the concept of depletion, thus creating a flawed structure. This concept continues and never truly improved with new jobs being created in exchange for lost ones in isolated industries and communities.
In this conversation, podcast hosts dissect the ideas in the book Freakonomics and criticize its narrative on economics and social issues. They talk about their new project "Trickle-Up Economics" as a way to reframe the American narrative.
The hosts discuss the economics of wiring a single chair versus an entire cell and suggest throwing a toaster in water on the ground to start a fire, like in an Usher music video. The episode is an advertisement for the Asshole Army Patreon.
The question of whether or not giving people money actually helps them is a contentious one among economists. While some argue that poor people may not use the money wisely, others believe that lack of resources is a barrier to bettering their lives.
