Analyzing Economies: England, France, Germany, Poland, Turkey, and the EU/European Immigration

In today's episode, Noah Smith and Erik Torenberg answer listeners' questions and discuss global economic issues such as China's demographic challenges, currency crises, GDP vs. GDP per capita, the efficacy of long prison sentences, and the risks and benefits of economic stimulus, currency depreciation, and trade imbalances. -- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. -- RECOMMENDED PODCAST: Modern Relationships Check out Modern Relationships, where Erik Torenberg interviews tech power couples and leading thinkers to explore how ambitious people actually make partnerships work. Founders Fund's Delian Asparouhov and researcher Nadia Asparouhova kick off the series with an unfiltered conversation about their relationship evolution. Apple: https://podcasts.apple.com/us/podcast/id1786227593 Spotify: https://open.spotify.com/show/5hJzs0gDg6lRT6r10mdpVg YouTube: https://www.youtube.com/@ModernRelationshipsPod -- Highlights from the Episode: The U.S. trade deficit represents IOUs to other countries that must eventually be paid back or partially defaulted on through inflation. A persistent trade deficit is not in America's long-term interest. There are two main types of economic crises: currency crises (typically involving inflation) and deflationary depressions. They require opposite policy responses - austerity for currency crises and stimulus for deflationary depressions. China is currently experiencing a deflationary crisis due to its real estate bubble burst and debt overhang, leading to falling prices and attempts to export their way out of trouble. -- SPONSORS: GiveWell GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit https://www.givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us. NetSuite More than 40,000 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 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ -- SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co -- FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia -- LINKS: Noahpinion: https://www.noahpinion.blog/ https://www.noahpinion.blog/p/good-cities-cant-exist-without-public https://www.noahpinion.blog/p/macroeconomics-the-predator-of-foolish

25 Dec 202454min

This week, Erik Torenberg and Noah Smith discuss modern dating dynamics, cultural shifts, and the impact of technology and social media on relationships with author and former dating advice columnist Katherine Dee, exploring generational differences contributing to the gender war and the broader societal implications. -- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. -- RECOMMENDED PODCAST: Check out Modern Relationships, where Erik Torenberg interviews tech power couples and leading thinkers to explore how ambitious people actually make partnerships work. Founders Fund's Delian Asparouhov and researcher Nadia Asparouhova kick off the series with an unfiltered conversation about their relationship evolution. Apple: https://podcasts.apple.com/us/podcast/id1786227593 Spotify: https://open.spotify.com/show/5hJzs0gDg6lRT6r10mdpVg YouTube: https://www.youtube.com/@ModernRelationshipsPod -- Highlights from the Episode: Dating markets vary significantly by location and social context - what works in San Francisco differs from New York, and tech industry dating differs from other sectors. There's a noticeable trend toward "avoidant behavior" in younger generations, manifesting in situationships and difficulty with direct communication. Social media and technology have fundamentally altered how people connect, leading to more fragmented and isolated dating experiences. -- SPONSORS: GiveWell GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit https://www.givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us. NetSuite More than 40,000 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 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ -- SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co -- FOLLOW ON X: @default_friend @noahpinion @eriktorenberg @turpentinemedia -- LINKS: Default Friend: https://default.blog/ Noahpinion: https://www.noahpinion.blog/

18 Dec 202457min

Noah Smith and Erik Torenberg discuss the high costs of healthcare, the challenges facing the center-left, the possibility of infinite economic growth, solutions to declining fertility rates, and the role of technology in addressing demographic challenges. -- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. -- RECOMMENDED PODCAST: Unpack Pricing Dive into the dark arts of SaaS pricing with Metronome CEO Scott Woody and tech leaders. Learn how strategic pricing drives explosive revenue growth in today's biggest companies like Snowflake, Cockroach Labs, Dropbox and more. Apple: https://podcasts.apple.com/us/podcast/id1765716600 Spotify: https://open.spotify.com/show/38DK3W1Fq1xxQalhDSueFg -- Highlights from the Episode: Health insurance companies are often unfairly blamed for high healthcare costs, while making only 1-3% profit margins. The real cost drivers are healthcare providers and hospital systems. National health insurance, as implemented in countries like Japan, can effectively control costs but may risk reducing healthcare innovation. Population growth follows exponential functions, meaning societies are always trending toward either over-population or under-population, with no stable middle ground without active intervention. -- SPONSORS: GiveWell GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit https://www.givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us. NetSuite More than 40,000 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 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ -- SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co -- FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia -- LINKS: Noahpinion: https://www.noahpinion.blog/

11 Dec 202459min

This week, Noah Smith talks to Erik Torenberg about his viral post on land acknowledgements, exploring how nations should be defined by institutions rather than ethnic identity. The conversation expands into a discussion of immigration, cultural assimilation, and sovereignty across countries like Israel, Japan, South Korea, and Botswana, examining how different nations navigate the balance between cultural preservation and integration. For full show notes, visit: https://highlightai.com/share/b7f9f1c6-5c17-4877-9be7-c0b3d56c7e78 -- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. -- RECOMMENDED PODCAST: Unpack Pricing Dive into the dark arts of SaaS pricing with Metronome CEO Scott Woody and tech leaders. Learn how strategic pricing drives explosive revenue growth in today's biggest companies like Snowflake, Cockroach Labs, Dropbox and more. Apple: https://podcasts.apple.com/us/podcast/id1765716600 Spotify: https://open.spotify.com/show/38DK3W1Fq1xxQalhDSueFg -- SPONSORS: GiveWell GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit https://www.givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us. NetSuite More than 40,000 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 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ -- SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co -- FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia -- LINKS: Noahpinion: https://www.noahpinion.blog/ No, you are not on Indigenous land: https://www.noahpinion.blog/p/no-you-are-not-on-indigenous-land

4 Dec 20241h 8min

In today's special episode, we're sharing a conversation between Noah Smith and Ethereum co-founder Vitalik Buterin recorded back in June for the Bankless podcast. They discuss whether authoritarian regimes could outcompete liberal democracies in the 21st century, exploring the impact of technological advancements, the internet, and decentralized technologies like crypto on information dynamics and the preservation of liberal values. For full show notes, visit: https://highlightai.com/share/e7dc596f-bc8e-4574-aebd-c6f579a76175 -- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. -- RECOMMENDED PODCAST: Bankless The Ultimate Guide to Crypto Finance. DeFi, NFTs, and cryptocurrencies. Level up. Go bankless. Youtube: https://www.youtube.com/@Bankless Apple: https://podcasts.apple.com/us/podcast/bankless/id1499409058 Spotify: https://open.spotify.com/show/5ll0fkqIGyUfSOn9CTfHjC -- SPONSORS: GiveWell GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to https://www.givewell.org and select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us. Incogni Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: http://incogni.com/econ102 -- SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co -- FOLLOW ON X: @BanklessHQ @noahpinion @eriktorenberg @turpentinemedia -- LINKS: Bankless: https://www.bankless.com/ Noahpinion: https://www.noahpinion.blog/ How liberal democracy might lose the 21st century: https://www.noahpinion.blog/p/how-liberal-democracy-might-lose

27 Nov 20241h 39min

This week, Erik Torenberg and Noah Smith explore economic policies, political dynamics, societal issues, including the abolition of income tax, government agency efficiency, the evolving political landscape, technology's impact on freedom and dignity, and the challenges of maintaining a competent civil service. For full show notes, visit: https://highlightai.com/share/ab409e21-1697-4621-a9b8-cfd3149e4e35 -- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. -- RECOMMENDED PODCAST: Unpack Pricing Dive into the dark arts of SaaS pricing with Metronome CEO Scott Woody and tech leaders. Learn how strategic pricing drives explosive revenue growth in today's biggest companies like Snowflake, Cockroach Labs, Dropbox and more. Apple: https://podcasts.apple.com/us/podcast/id1765716600 Spotify: https://open.spotify.com/show/38DK3W1Fq1xxQalhDSueFg -- SPONSORS: GiveWell GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit https://www.givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us. Incogni Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: http://incogni.com/econ102 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ 📝Notion offers powerful workflow and automation templates, perfect for streamlining processes and laying the groundwork for AI-driven automation. With Notion AI, you can search across thousands of documents from various platforms, generating highly relevant analysis and content tailored just for you - try it for free at https://www.notion.com/product/ai?utm_source=podcasts&utm_medium=upstreampod -- SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co -- FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia -- LINKS: Noahpinion: https://www.noahpinion.blog/

21 Nov 20241h 21min

Noah Smith and Erik Torenberg discuss the evolution and challenges of urban development in American cities, particularly the rise and fall of blue cities like San Francisco and New York, while exploring historical trends, fiscal policies, and socio-political dynamics. For full show notes, visit: https://highlightai.com/share/69fa9439-ace9-43c3-9a96-9876a7e440bc — RECOMMENDED PODCAST: Unpack Pricing Dive into the dark arts of SaaS pricing with Metronome CEO Scott Woody and tech leaders. Learn how strategic pricing drives explosive revenue growth in today's biggest companies like Snowflake, Cockroach Labs, Dropbox and more. Apple: https://podcasts.apple.com/us/podcast/id1765716600 Spotify: https://open.spotify.com/show/38DK3W1Fq1xxQalhDSueFg — SPONSORS: GiveWell GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit https://www.givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us. NetSuite More than 40,000 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 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ 📝Notion offers powerful workflow and automation templates, perfect for streamlining processes and laying the groundwork for AI-driven automation. With Notion AI, you can search across thousands of documents from various platforms, generating highly relevant analysis and content tailored just for you - try it for free at https://www.notion.com/product/ai?utm_source=podcasts&utm_medium=upstreampod -- SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co -- FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia -- LINKS: Noahpinion: https://www.noahpinion.blog/ https://www.noahpinion.blog/p/the-blue-cities-must-be-fixed

13 Nov 20241h 1min

Noah Smith and Erik Torenberg analyze the aftermath of the Trump 2024 election, debating what to expect on political strategies, economic policies, and the power of figures like Elon Musk, while discussing potential shifts needed within the Democratic Party to address changing voter demographics. For full show notes, visit: https://highlightai.com/share/7411dfd6-68b4-4590-b8c5-64aac8ba953f -- 📰 Be notified early when Turpentine drops new publication: https://www.turpentine.co/exclusiveaccess  -- SPONSORS: GiveWell GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit https://www.givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us. NetSuite More than 40,000 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 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ 📝Notion offers powerful workflow and automation templates, perfect for streamlining processes and laying the groundwork for AI-driven automation. With Notion AI, you can search across thousands of documents from various platforms, generating highly relevant analysis and content tailored just for you - try it for free at https://www.notion.com/product/ai?utm_source=podcasts&utm_medium=upstreampod -- SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co -- FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia -- LINKS: Noahpinion: https://www.noahpinion.blog/

7 Nov 202454min