I listen to most podcasts at 1.5× speed. This one I'm having to listen to at 0.75×, pause, and go back multiple times because of how information dense it is. Great stuff!

Have to listen to this 10 times at 10% speed.

@elliott614

Жыл бұрын

Awesome name 👍

No surprise that he’s the most listened to podcast episode the show has had.

@NG-dc2pk

Жыл бұрын

This episode isn't even among the top 20 , when it comes to the most viewed one !

@fahimmostafa7080

Жыл бұрын

@@NG-dc2pk his previous episode was the most listened to. The hosts mentioned this in one of their episodes.

Thank you amazing content. The ability of Prof. Cochrane of explaining deep economics theories in simple words is unmatched.

“Where on a podcast,so what the heck”😂 classic professor type quote,succinct,insightful.witty 👌

Wow! What a great, great interview!

I haven't heard the whole thing, but at about 17:00 Cochrane claimed the monetarist view is the one mostly taught in class. I had the benefit of taking a macro economic class last semester, and the monetarist view of inflation was just a side-note of what people thought back-then and that MV = PQ is only true in the very long term. Instead, we used a model of inflation based on the IS-MP-PC model - which happens to be aproximately what the Norwegian central bank uses.

Fantastic listen. Thank you so much Ben, Cameron, and Prof. Cochrane. This channel is priceless!

This is a fantastic interview.

@rationalreminder

6 ай бұрын

Thanks. It’s one of my personal favourites. -Ben

think you ought to add chapters, esp for a video of this length.

Thanks for this. You mostly lean towards the academic world with some exceptions to 'popular' behavioral books. In light of this discussion on monetarist and fiscal views on inflation, and a bit Keynes, you may find it interesting to have talks with Marc Faber. Outspoken albeit less academic. But he does hold a PhD. He would bring more 'real world' experience in managing money and asset allocation. Visavis 'Keynesians Clowns' as he calls them or FED members who never had a 'real job'. Thanks for this great channel

Great episode. John mentioned his book is targeted towards academics insinuating that Ben would not be interested or capable. I think John is mistaken!

@TheSteinbitt

Жыл бұрын

I don’t think he implied that at all, more that he was pleased and surprised they read it all as he himself would consider it dense and quite narrow in scope for its size:)

Great one

I haven't yet listened to the episode but I feel that 'working for the Cato Institute' should have been disclaimed and contextualized a bit more strongly.

What about inflation caused by interruptions in the supply chain? In 1946, inflation in the US reached 18 percent. It wasn't all due to money creation. Many businesses were converting from wartime to peacetime production and inflation, though temporary, was a result.

Honestly I appreciate hearing new perspectives and this is sooo different than anything I've heard before I don't even know what box to put the conversation in. Which is good because the instinct to put people and ideas into boxes isn't always good [/tautology]

@elliott614

Жыл бұрын

I tend to agree that experts in the field who dedicate their life, particularly public sector jobs with tremendously lower pay, ought to be trusted. Being very scientifically literate and an engineer (electrical, computer, software)... "Financial Engineering", however has these negative connotations where they are just effectively not creating value but stealing value through increasingly complicated schemes, and so it is hard to get over that bias against finance people. I can tell this guy is pretty genuine and excited about the academic theory and so I have a lot of 🙏 respect. Might not agree intuitively with all but that's life

@elliott614

Жыл бұрын

Didn't people during the pandemic spend MORE on restaurants through things like door dash or Uber eats??? Bc of panic about grocery shopping? And I just bought a 4k quantum dot UHDTV and was SHOCKED by how cheap it was so I'm very confused by this critique about tv vs restaurant prices. I mean well under 25 percent of the cost of much lower resolution/framerate and smaller screen not-smart TVs were years ago, doesn't say anything macroeconomically of course, and supply chain issues continue to remain a drain on much of electrical engineers' labor

@elliott614

Жыл бұрын

Is there a good theory explanation for what happened to egg prices recently in both directions other than price gouging followed by people deciding they didn't need to buy eggs THAT much and price dropping back down? Since analysis I saw about it couldn't identify any other plausible issue. And what would you say about the easy money policies, robinhood era stock valuations going way beyond actual value causing companies to need to price gouge in order to justify those valuations so when their Financials come out they don't see crashes in share prices?

Love Prof. Cochrane’s poster lol

Amazing styff

Couldn't you get Medicare costs under control using the insane amount of savings and reduction of inefficiency by switching to M4A

That's a damn pricey book.

@Dwightchang443

Жыл бұрын

it's more of a textbook, but it can be found cheaper if you look hard enough

No questions about whether it was worth it, if the theory is right about the cause of inflation though? I mean we forget just how much of a crisis we were in and how much worse things could have turned out

@elliott614

Жыл бұрын

People in my state were unemployed from the pandemic for a year before they received a penny if unemployment compensation with the backlog. The stimulus saved lives

You brought someone who doesn't understand crypto and spoke about mostly non crypto stuff. It was interesting but I think it's time to move beyond the "crypto is used for bad things" stereotypes now.

@rationalreminder

Жыл бұрын

Crypto is mostly used for speculation, but it is most useful for censorship resistant economic activity.

He lost me at "It's easy to run on raising taxes" What world is he living in?!?! There is a universal assumption in all mainstream media that spending bad AND taxes bad. Politicians even will say that both spending AND taxes cause inflation which doesn't even make fiscal sense

@elliott614

Жыл бұрын

I honestly don't know if that was a joke tbh. Bc clearly the idea that stock value comes from dividends is silly when so many stocks don't pay dividends