The market value of a product is often decided by its supply and demand, and the higher price for a product means that it is highly demanded or less available in supply, leading to the prestige of possessing it.
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.
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.
The Chinese government has extended tax cuts and plans for a stimulative economy, but this has resulted in decreased buying power for consumers. This mirrors global trends of plummeting consumer confidence and retail sales, leading to questions about potential tax cuts in the US.
The podcast episode features a discussion on economics and the speaker seems to have a love-hate relationship with the topic.
Discussion about the economics of small towns, including the average price of buildings and the tendency for individuals to hold out on selling.
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.
This podcast discusses the idea that profit and loss encourage prudent risk-taking, not reckless risk-taking, while also exploring the concept of "you're not free to desist from it". The guest speaker provides insight into the importance of weeding out losing strategies and taking into account the effect of economic decisions.
The neoclassical school's subjective theory of value and focus on equilibrium was disrupted by Keynes, who emphasized the dynamic and non-equilibrium nature of capitalism. Understanding the monetary creativity and violence of capitalism requires a departure from a non-monetary, barter-focused perspective.
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 economic model is built on the mythical average man who does not exist in real life, and economists are incapable of adapting to real-world problems that conflict with their beliefs about economics.
An idea from a listener sparked a discussion on the socioeconomic impact of giving each of 50 needy American families $50,000 in a one-time gift, repeating the process annually, in order to promote intergenerational income mobility in impoverished Brooklyn neighborhoods.
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.
