“Start-up” has become a buzzword in the 21st century, but according to a new book, start up culture has been endemic to American culture since the days of the Mayflower and the Virginia Company. In Americana: A 400 Year History Of American Capitalism, author Bhu Srinivasan contends it was this spirit of innovation and ambition that drove American economic growth and helped make the US into the superpower it is now. He joined the podcast to discuss his book and what history’s lessons can teach policymakers today.More
Technological innovation is already transforming the economy, and this change will accelerate in the future. To discuss what these changes mean for business and society at large, I’m joined by MIT’s Andrew McAfee.
Andrew McAfee is a principal research scientist at MIT, where he studies how technology is changing business, the economy, and society. He is also the co-author of several books, including: Race Against the Machine and The Second Machine Age, and his most recent one: Machine, Platform, Crowd: Harnessing Our Digital Future.More
As the next generation of robots arrive in the workplace, will they enable workers or replace them? According to MIT’s Daron Acemoglu, one of the most frequently cited economists in the world, this distinction is the difference between technology that raises workers’ wages versus tech that merely reduces overall employment and wage growth.
Daron Acemoglu is a professor of economics at MIT, a frequent contributor to Foreign Policy Magazine, and co-author of Why Nations Fail. He joins me today to discuss his research and what technological innovation means for the future of work.More
Why did the West grow rich in the 18th century after thousands of years of nearly zero economic growth? Joel Mokyr, an economic historian at Northwestern University, contends that it was the culture in Western Europe that sparked the Great Enrichment.
Joel Mokyr is the author of the recent book, A Culture of Growth: The Origins of the Modern Economy. He joins me on the podcast to discuss his argument, what the lessons of economic history can teach us about the future of innovation, and whether the techno-optimists or -pessimists are right about the future.More
Marriage is one of society’s oldest institutions, and research suggests its importance hasn’t faded with time. Here to discuss the numerous benefits of marriage, as well as its role in the “Millennial Success Sequence,” is Dr. W. Bradford Wilcox.
Looking at Silicon Valley today, you might think the US is poised for a technological explosion. That’s certainly animating many of the fears of mass joblessness once artificial intelligence arrives in the workplace, and why many people are beginning to advocate a universal basic income. But my guest today says these techno-optimists have far too rosy of an outlook.
Fredrik Erixon is an economist and the director of the European Centre for International Political Economy, a think tank based in Brussels. He’s also the co-author of the recent book “The Innovation Illusion: How So Little is Created by So Many Working So Hard.” He joins me to discuss why productivity growth has been so lackluster, why he thinks returning to the glory days of dynamism will be so difficult, and how policymakers should deal with this.More
The US economy appears to be stuck at around 2% GDP growth, much less than the 3.5% it has averaged between World War II and the Great Recession. One reason is that productivity growth – that is, output per worker — is barely rising. Why is the American economy apparently not as productive as it used to be? Are we, despite tech giants such as Apple and Google, somehow less innovative than in the past? If so, why are we so worried about robots taking our jobs?
To help us answer those questions and others, I’m delighted to have as my guest today Bret Swanson, an AEI visiting fellow and president of Entropy Economics, a strategic research firm specializing in technology, innovation, and the global economy. Bret is the co-author of the recent report, “The Coming Productivity Boom,” and he joins us today to discuss why he thinks much higher productivity growth is just around the corner.More
Republicans invoke Ronald Reagan constantly. They sing his praises every chance they get, and seem to believe there is no public policy problem that a good dose of Reaganism can’t fix. But has the Right got Reagan wrong all this time? In his new book, The Working Class Republican: Ronald Reagan and the Return of Blue-Collar Conservatism, Henry Olsen argues the classic conception of Reagan as an arch-libertarian on economic policy is misguided. Only by understanding the real Reagan can Republicans forge a lasting coalition capable of governing America well into the future.
Henry Olsen is a senior fellow at the Ethics and Public Policy Center, where he studies and provides commentary on American politics. His work focuses on how to address the electoral challenges facing modern American conservatism, while staying true to conservative principles. Before joining the Ethics and Public Policy Center, Mr. Olsen most recently served from 2006 to 2013 as vice president and director of the National Research Initiative at AEI. He previously worked as vice president of programs at the Manhattan Institute and president of the Commonwealth Foundation. His work has been featured in many prominent publications, including The Wall Street Journal, The Washington Post, National Review, and The Weekly Standard.More
We’ve grown accustomed to hearing a lot about the one percent. Yet it’s the “favored fifth” – the top 20 percent of the income distribution – that Brookings Senior Fellow Richard Reeves asserts is the greater problem. “The rhetoric of ‘We are the 99 percent,’” Reeves writes, “has in fact been dangerously self-serving.” From supporters of Elizabeth Warren to Donald Trump, upper middle class Americans everywhere claim they want to unrig the system. But far more than they’d like to admit, they are the ones who are rigging it. From exclusionary zoning policy to the mortgage-interest deduction to the 529 college savings plans, the upper middle class constructs glass floors for their children, perpetuating inequality and impeding social mobility for the remaining 80 percent of Americans. Richard Reeves joins me to discuss all this and his recent book, Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do About it.More
Has America ever had a true conservative tradition? We are here with Patrick Deneen to discuss that question, and his book, Conserving America?: Essays on Present Discontents.
Patrick J. Deneen holds a Ph.D. in Political Science from Rutgers University. From 1995-1997 he was Speechwriter and Special Advisor to the Director of the United States Information Agency. He has held professorships at Princeton University and Georgetown University, before joining the faculty of Notre Dame in Fall 2012.More
With increasingly populist figures gaining traction across the world (even winning or nearly winning major elections), it seems as if the values of western liberalism are on the decline. But are these leaders and their policies the direct cause of populism, or rather a manifestation of years of brewing anxiety? Here to discuss this and his recent book, “The Retreat of Western Liberalism,” is Financial Times columnist and commentator Edward Luce.More
Ajit Pai. Net Neutrality. Spectrum. These and other buzzwords are now circulating not just in the mouths of policy wonks in Washington, but in viral videos, on major network evening talk shows, in Jimmy Kimmel’s Mean Tweets.
But seriously, what should tech policy look like for the next generation, or two, or three? Can we continue to have a system largely based on 1930s regulation?More
With a bill having narrowly passed the House last week to repeal and replace Obamacare, the Senate is revving up for negotiations, reconciliation, and fair to say, a hard journey to a finished product. What does the road look like?
Here to discuss is Ben Ippolito, a research fellow in economic policy studies at the American Enterprise Institute, where his research is in public finance and health economics. His recent work has focused on the behavior of health care providers, price regulation, and health care financing.More
After 100 some days of the Trump presidency, the Republican Party and the conservative coalition, broadly understood, are still in flux. Was this election a Pyrrhic victory? Is that even the right question to ask?
Yuval Levin writes in a new essay, “Conservatism in an Age of Alienation”, that “… the problems exposed by this election year call out for a modernized, self-critical, twenty-first-century conservatism—a conservatism that is uncertain if this election has marked a victory or a defeat, and is therefore both aggressive in pursuit of opportunities and alert to dangers.” We discussed this, the future of the movement, and much more in this wide-ranging episode of the podcast.More
The French presidential election might be the last act in a three part play featuring Part I: the Brexit referendum and Part II: the US election. Forces acting against a globalized status quo seem to have played a big role in I and II. Regardless of the outcomes of Brexit and the US election, the French election held this past Sunday, and its final run off on May 7, will have major implications for the future of the Eurozone and world economy, and may add fuel to other fires across the Eurozone – Italy in particular. What do we need to know? What sorts of ripple effects will this economic and political uncertainty have in the US and for the Trump administration?
To answer these, I talked with Desmond Lachman, who joined AEI after serving as a managing director and chief emerging market economic strategist at Salomon Smith Barney. He previously served as deputy director in the International Monetary Fund’s (IMF) Policy Development and Review Department and was active in staff formulation of IMF policies. He has a PhD in economics from Cambridge University.More
Some have argued that we are at Peak America – as in, we’ve hit a plateau economically. What kinds of repercussions does that have for culture and American society more generally? And has postwar American culture itself contributed to decreasing economic dynamism? Tyler Cowen addresses these questions in his new book, “The Complacent Class: The Self-defeating Quest for the American Dream.”
Tyler Cowen is the Holbert L. Harris Chair of Economics at George Mason University, and serves as chairman and general director of the Mercatus Center at George Mason University. With colleague Alex Tabarrok, Cowen is coauthor of the popular economics blog Marginal Revolution and cofounder of the online educational platform Marginal Revolution University.More
Is this really the “Asian Century”? Many have conjectured yes, that China and the Far East as a whole could overtake America, in military might and economic power, if not in global cultural influence. But how realistic is that? Michael Auslin argues in The End of the Asian Century we should be less sure what is in store.
Michael Auslin is a resident scholar and the director of Japan Studies at the American Enterprise Institute (AEI), where he specializes in Asian regional security and political issues.More
With a new administration, we have reason to hope that the welfare state may change, morph, make it more simple for us to serve the impoverished and truly marginalized, rather than stay looking like this mess. What is promising, and what is old news?
Robert Doar is the Morgridge Fellow in Poverty Studies at the American Enterprise Institute (AEI), where he focuses on the employment, health, and well-being of low-income Americans and their children.More
In 2013, Joel Kotkin described the state of California as a new bastion of neofeudalism, marked by class division into the serfs, Americans dependent on government for their welfare, the yeomanry or small business owners and middle class citizens, the clerisy of government officials, media elite, and the Ivory Tower, and the oligarchs at the top, in California’s case the rulers of tech and finance. With government policies aimed to help each class that often instead solidify class barriers by giving each different group its own set of handouts, how on earth do we achieve upward mobility for all Americans and create the kind of dynamic economy that rewards risk and pays dividends for all Americans?
I spoke with Joel Kotkin about just these things. He is executive editor of NewGeography.com. He is the Roger Hobbs Distinguished Fellow in Urban Studies at Chapman University and executive director of the Houston-based Center for Opportunity Urbanism.More
It has been nearly twenty years since the prescient publication of “The Future and its Enemies,” in which author Virginia Postrel painted a picture of a world riven by clash between “dynamism” and “stasism”, between those open-minded enough to seek change, creativity, and free market disruption for the betterment of humanity, and between those who would plan, control, and otherwise restrict the flow of goods, ideas, and people.
I chatted with her about how our politics and economy look today, and what we need to do to remain dynamists in an increasingly stasist world.More