Podcast appearances and mentions of Alan Blinder

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Alan Blinder

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Best podcasts about Alan Blinder

Latest podcast episodes about Alan Blinder

The Daily
Trump's Escalating War With Higher Education

The Daily

Play Episode Listen Later Mar 24, 2025 27:50


In recent weeks, the Trump administration has put the American university system on notice.It has pressed for changes, opened investigations — and in some cases withheld critical funds.Alan Blinder, who covers education in America, explains how schools are responding to the pressure and what it might mean for the future of higher education.Guest: Alan Blinder, a national correspondent for The New York Times, writing about education in America.Background reading: Columbia University promised changes to its protest policies, its security practices and its Middle Eastern studies department after the Trump administration moved to cut off $400 million in funding.President Trump's battles with colleges could change American culture for a generation.For more information on today's episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. Photo: Hiroko Masuike/The New York Times Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

Moody's Talks - Inside Economics
Blinder Speaks Out on Fed Day

Moody's Talks - Inside Economics

Play Episode Listen Later Dec 19, 2024 52:10


Inside Economics had the fortune to have Alan Blinder, Princeton University economics professor, former Vice Chair of the Fed, and author of the recent book “The Monetary and Fiscal Policy History of the United States, 1961-2021” join the podcast on the day the Fed cut rates but warned investors not to count on more rate cuts anytime soon. At least not until Fed officials get a fix on incoming President Trump's economic policies, ranging from tariffs and deportations to tax cuts and Fed independence, and their fallout.  Guest: Alan S. Blinder - Professor of Economics and Public Affairs at Pinceton UniversityGet more information on Alan Blinder's book - A Monetary and Fiscal History of the United States, 1961-2021Hosts: Mark Zandi – Chief Economist, Moody's Analytics, Cris deRitis – Deputy Chief Economist, Moody's Analytics, and Marisa DiNatale – Senior Director - Head of Global Forecasting, Moody's AnalyticsFollow Mark Zandi on 'X' @MarkZandi, Cris deRitis on LinkedIn, and Marisa DiNatale on LinkedIn

Marketplace
Why Fed independence is crucial

Marketplace

Play Episode Listen Later Oct 28, 2024 29:58


If Donald Trump is reelected president, the Federal Reserve’s political independence would go “right out the window,” Alan Blinder, a former Fed vice chairman, told us. In this special episode, economists weigh in on the importance of Fed autonomy in policymaking, and what political interference — something Trump is threatening — could mean for the global economy.

Marketplace
Why Fed independence is crucial

Marketplace

Play Episode Listen Later Oct 28, 2024 29:58


If Donald Trump is reelected president, the Federal Reserve’s political independence would go “right out the window,” Alan Blinder, a former Fed vice chairman, told us. In this special episode, economists weigh in on the importance of Fed autonomy in policymaking, and what political interference — something Trump is threatening — could mean for the global economy.

Marketplace All-in-One
Why Fed independence is crucial

Marketplace All-in-One

Play Episode Listen Later Oct 28, 2024 29:58


If Donald Trump is reelected president, the Federal Reserve’s political independence would go “right out the window,” Alan Blinder, a former Fed vice chairman, told us. In this special episode, economists weigh in on the importance of Fed autonomy in policymaking, and what political interference — something Trump is threatening — could mean for the global economy.

Closing Bell
Closing Bell Overtime: Meta Shares Rise In Overtime; Former Fed Vice Chairman Alan Blinder On The Fed's Decision 7/31/24

Closing Bell

Play Episode Listen Later Jul 31, 2024 44:53


A double-dose of major market-moving events: Meta earnings and the FOMC's rate decision. Fed Chair Jerome Powell kept interest rates unchanged but said investors could expect a cut in September if current economic data continues. Meantime, investors cheered Meta's latest quarterly numbers; top-rated analyst Mark Mahaney of Evercore and CFRA's Angelo Zino break down the report. Plus, Qualcomm CEO on what powered the chipmaker's strong quarter. Plus, other earnings from Arm, Lam Research, eBay, Etsy and MGM.

The Supporting Cast
Kara Nortman ’93 on Angel City and Investing in Women’s Sports – TSC062

The Supporting Cast

Play Episode Listen Later May 6, 2024 45:52


Kara Nortman '93 is co-founder of Los Angeles's professional women's soccer team Angel City. In this episode, Kara recounts her evolution from leading LA's largest venture capital firm, Upfront Ventures, to co-founding Angel City alongside partners Natalie Portman and Julie Uhrman in 2020. Since then, Angel City has not only garnered significant fan followings and profitability (quadrupling its revenue projections in year one), but also developed a profit model to enable community and philanthropic impact. Using Angel City as a model, Kara has since broadened her focus--leading a $150M raise to form Monarch Collective, whose mission is to invest in women's teams, sports, and rights across the world. Finally, Kara describes her own Harvard-Westlake story and personal connections to the team—noting that three of Angel City's stars, including team captain Ali Riley '06, Gisele Thompson '24, and Alyssa Thompson '23 are all HW alumnae. Kara references Jeanne Huybrechts and Barb Welch of Harvard-Westlake, as well as Alan Blinder and Lori Dauphiny of Princeton University, as profound educational influences.

The Sunday Magazine
Campus protests, AI in elections, Amazon's rise, Black history education

The Sunday Magazine

Play Episode Listen Later Apr 28, 2024 88:55


Host Piya Chattopadhyay speaks with The New York Times national education reporter Alan Blinder about the Israel-Hamas war protests roiling school campuses, Craig Desson from CBC's Audio Doc Unit unpacks the powers and perils of AI in elections, Wall Street Journal reporter Dana Mattioli traces Amazon's rise to dominance, and Dalhousie University historian Afua Cooper discusses her mission to fill gaps in Black history education in Canada.Find more at at https://www.cbc.ca/sunday

The Greatest True Crime Stories Ever Told
The First American Female Serial Killer (Pt 1)

The Greatest True Crime Stories Ever Told

Play Episode Listen Later Jan 2, 2024 40:15 Transcription Available


This is the first of a three-part miniseries about a precocious little orphan. One who was abused and ignored for so long that her acting-out behaviors eventually escalated to scandalous, multiple murders. Of people who betrayed her. Of people who loved her. And of strangers.The Greatest True Crime Stories is a production of Diversion Audio.• Follow Diversion Audio on Instagram • Explore more: diversionaudio.com This series is hosted by Mary Kay McBrayer. Check out more of her work at www.marykaymcbrayer.com.This episode was written by Mary Kay McBrayerEditorial Direction by Nora BatelleDeveloped by Scott Waxman, Emma DeMuth, and Jacob BronsteinProduced, edited, and directed by Mark FrancisTheme Music by Tyler CashExecutive Produced by Scott Waxman, Mark Francis, and Jacob BronsteinSpecial thanks to: Mary Kay McBrayer, America's First Female Serial Killer: Jane Toppan and the Making of a Monster Harold Schechter, Fatal Dariaan Berryman obituary, Lexington, KY, 9 March 2012. “Gunman Gets 20 Years in Georgia School Seizure” by Alan Blinder, New York Times, 16 September 2014 See omnystudio.com/listener for privacy information.

Economics & Beyond with Rob Johnson
Alan Blinder: Looking Back and Looking Ahead: 15 Years After the Lehman Collapse

Economics & Beyond with Rob Johnson

Play Episode Listen Later Sep 28, 2023 58:51


Former Fed vice chair and Princeton University economics professor Alan Blinder takes a close look at what lessons still remain to be learned in the aftermath of the Great Financial Crisis.

Cents and Sensibility: the Inflation Guy Podcast

So often, the Inflation Guy is asked to recommend a good book on inflation. Just one? That's crazy. There are oodles of good books on inflation, and in this episode the Inflation Guy recommends eight. Okay, one of the recommendations was less-than-enthusiastic. But these are all worth reading. Listen to the podcast, and visit the links below to see the books in Amazon or other site. Disclosure: the Inflation Guy doesn't make a red cent from clicking those links. So click away. NOTES Podcast Callback: Ep. 15: An Interview with Special Guest Milton Friedman Books Referred to: Fiat Money Inflation in France, Andrew Dickson White, 1933 (free pdf) When Money Dies, Adam Fergusson, 2010 Inflated: How Money and Debt Built the American Dream, R. Christopher Whalen, 2010 The Great Inflation and Its Aftermath: The Past and Future of American Affluence, Robert J. Samuelson, 2010 (funny how many of these are from 2010. Never noticed that before.) Money Mischief: Episodes in Monetary History, Milton Friedman, 1994 Asking About Prices: A New Approach to Understanding Price Stickiness, Alan Blinder, Elie Canerri, David Lebow, 1998 The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival, Charles Goodhart and Manoj Pradhan, 2020 The Mandibles: A Family, 2029-2047, Lionel Shriver, 2017 To Subscribe to Quarterly Inflation Outlook: https://inflationguy.blog/shop/ To Subscribe for free to the blog: https://inflationguy.blog/ Check out the new website!: https://www.EnduringInvestments.com/

Macro Musings with David Beckworth
Thomas Hoenig on Public Debt Sustainability and the Current State of the US Banking System

Macro Musings with David Beckworth

Play Episode Listen Later Sep 25, 2023 59:21


Thomas Hoenig is a distinguished senior fellow with the Mercatus Center at George Mason University, where he focuses on the long-term impacts of the politicization of financial services as well as the effects of government-granted privileges and market performance. He was formerly the vice chair of the FDIC from 2012 to 2018 and the 20 years prior to that, he was president of the Kansas City Federal Reserve Bank. Tom is also a returning guest to Macro Musings, and he rejoins to talk about the Treasury market, public debt sustainability issues, and the state of banking in the United States. David and Tom also discuss the history of Tom's influence on the Jackson Hole Conference, the growing size of the US current account deficit, the Fed's role as the primary Treasury market backstop, the dangers of risk-weighted capital regulation, and more.   Transcript for this week's episode.   Register now for the Bennett McCallum Monetary Policy Conference!   Thomas's Twitter: @tom_hoenig Thomas's Mercatus profile   David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Join the Macro Musings mailing list! Check out our new Macro Musings merch!   Related Links:   *Housing IS the Business Cycle* by Edward Leamer   *Understanding the Greenspan Standard* by Alan Blinder and Ricardo Reis   *Living with High Public Debt* by Serkan Arslanalp and Barry Eichengreen   *Has Financial Development Made the World Riskier?* by Raghuram Rajan   *Resilience Redux in the US Treasury Market* by Darrell Duffie   *Meet the Man Making Big Banks Tremble* by Jeanna Smialek and Emily Flitter

Fresh Air
How Saudi Arabian Oil Money Is Influencing Men's Pro Golf

Fresh Air

Play Episode Listen Later Sep 18, 2023 45:48


New York Times reporter Alan Blinder says the kingdom poured millions into a pro golf circuit to rival the PGA. The two sides recently announced a joint venture, raising anti-trust issues. Also, TV critic David Bianculli reviews the new season of The Morning Show.

Fresh Air
How Saudi Arabian Oil Money Is Influencing Men's Pro Golf

Fresh Air

Play Episode Listen Later Sep 18, 2023 45:48


New York Times reporter Alan Blinder says the kingdom poured millions into a pro golf circuit to rival the PGA. The two sides recently announced a joint venture, raising anti-trust issues. Also, TV critic David Bianculli reviews the new season of The Morning Show.

The Human Action Podcast
Is the Fed Responsible for the Recent Surge and Fall in Price Inflation?

The Human Action Podcast

Play Episode Listen Later Aug 18, 2023


Jonathan Newman joins Bob to discuss the argument being put forth by Alan Blinder, James Galbraith, and other progressive economists, who claim that the Federal Reserve's rate hikes couldn't possibly be responsible for the quelling of consumer price inflation. Jonathan and Bob stress the important role of expectations as a "transmission mechanism" from Fed policy to impacts on prices. Galbraith's Article on the Fed's 'Soft Landing': Mises.org/HAP409a The Paper on the Forward Guidance Paradox That Mentions Krugman: Mises.org/HAP409b Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23

Mises Media
Is the Fed Responsible for the Recent Surge and Fall in Price Inflation?

Mises Media

Play Episode Listen Later Aug 18, 2023


Jonathan Newman joins Bob to discuss the argument being put forth by Alan Blinder, James Galbraith, and other progressive economists, who claim that the Federal Reserve's rate hikes couldn't possibly be responsible for the quelling of consumer price inflation. Jonathan and Bob stress the important role of expectations as a "transmission mechanism" from Fed policy to impacts on prices. Galbraith's Article on the Fed's 'Soft Landing': Mises.org/HAP409a The Paper on the Forward Guidance Paradox That Mentions Krugman: Mises.org/HAP409b Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23

Interviews
Is the Fed Responsible for the Recent Surge and Fall in Price Inflation?

Interviews

Play Episode Listen Later Aug 18, 2023


Jonathan Newman joins Bob to discuss the argument being put forth by Alan Blinder, James Galbraith, and other progressive economists, who claim that the Federal Reserve's rate hikes couldn't possibly be responsible for the quelling of consumer price inflation. Jonathan and Bob stress the important role of expectations as a "transmission mechanism" from Fed policy to impacts on prices. Galbraith's Article on the Fed's 'Soft Landing': Mises.org/HAP409a The Paper on the Forward Guidance Paradox That Mentions Krugman: Mises.org/HAP409b Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23

The Human Action Podcast
Is the Fed Responsible for the Recent Surge and Fall in Price Inflation?

The Human Action Podcast

Play Episode Listen Later Aug 17, 2023


Jonathan Newman joins Bob to discuss the argument being put forth by Alan Blinder, James Galbraith, and other progressive economists, who claim that the Federal Reserve's rate hikes couldn't possibly be responsible for the quelling of consumer price inflation. Jonathan and Bob stress the important role of expectations as a "transmission mechanism" from Fed policy to impacts on prices. Galbraith's Article on the Fed's 'Soft Landing': Mises.org/HAP409a The Paper on the Forward Guidance Paradox That Mentions Krugman: Mises.org/HAP409b Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23

The Human Action Podcast
<![CDATA[Is the Fed Responsible for the Recent Surge and Fall in Price Inflation?]]>

The Human Action Podcast

Play Episode Listen Later Aug 17, 2023


Jonathan Newman joins Bob to discuss the argument being put forth by Alan Blinder, James Galbraith, and other progressive economists, who claim that the Federal Reserve's rate hikes couldn't possibly be responsible for the quelling of consumer price inflation. Jonathan and Bob stress the important role of expectations as a "transmission mechanism" from Fed policy to impacts on prices. Galbraith's Article on the Fed's 'Soft Landing': Mises.org/HAP409a The Paper on the Forward Guidance Paradox That Mentions Krugman: Mises.org/HAP409b   Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: Mises.org/Nashville23]]>

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

With Dr. Alan Blinder, Professor of Economics & Public Affairs at Princeton University

The Daily
Why Saudi Arabia Came for Golf and Why the PGA Let Them In

The Daily

Play Episode Listen Later Jun 15, 2023 29:05


Last week, golf's premier circuit, the PGA Tour, announced it was partnering with its rival circuit LIV Golf, an upstart league backed by Saudi Arabia, giving the country a powerful new seat at the table of international sports.Alan Blinder, who covers golf for The New York Times, explains what was behind the deal and what it means for the business of sports.Guest: Alan Blinder, a reporter who covers golf and health for The New York Times.Background reading: The deal to merge LIV Golf with the PGA Tour is a big win for oil-rich Saudi Arabia, headlining a banner week that also includes a visit from the American secretary of state.The U.S. Senate opened an inquiry into the PGA Tour's deal with LIV Golf.For more information on today's episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

In Service of Humanity
Dean's Dialogue: SPIA in D.C.

In Service of Humanity

Play Episode Listen Later May 4, 2023 21:52


SPIA enters a new era with the establishment of a physical presence in the nation's capital. Dean Amaney Jamal chats with Washington veteran Alan Blinder about the initiative.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

With Dr. Alan Blinder, Professor of Economics & Public Affairs at Princeton University

New Books Network
Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)

New Books Network

Play Episode Listen Later Apr 6, 2023 59:27


Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedy's New Frontier to Biden's responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent events, including the financial crisis, the Great Recession, and monetary policy during COVID-19. A lively and concise narrative, A Monetary and Fiscal History of the United States, 1961-2021 (Princeton University Press, 2022) is filled with vital lessons for anyone who wants to better understand where the economy has been and where it might be headed. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

New Books in History
Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)

New Books in History

Play Episode Listen Later Apr 6, 2023 59:27


Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedy's New Frontier to Biden's responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent events, including the financial crisis, the Great Recession, and monetary policy during COVID-19. A lively and concise narrative, A Monetary and Fiscal History of the United States, 1961-2021 (Princeton University Press, 2022) is filled with vital lessons for anyone who wants to better understand where the economy has been and where it might be headed. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/history

New Books in Political Science
Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)

New Books in Political Science

Play Episode Listen Later Apr 6, 2023 59:27


Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedy's New Frontier to Biden's responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent events, including the financial crisis, the Great Recession, and monetary policy during COVID-19. A lively and concise narrative, A Monetary and Fiscal History of the United States, 1961-2021 (Princeton University Press, 2022) is filled with vital lessons for anyone who wants to better understand where the economy has been and where it might be headed. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

New Books in American Studies
Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)

New Books in American Studies

Play Episode Listen Later Apr 6, 2023 59:27


Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedy's New Frontier to Biden's responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent events, including the financial crisis, the Great Recession, and monetary policy during COVID-19. A lively and concise narrative, A Monetary and Fiscal History of the United States, 1961-2021 (Princeton University Press, 2022) is filled with vital lessons for anyone who wants to better understand where the economy has been and where it might be headed. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/american-studies

Princeton UP Ideas Podcast
Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)

Princeton UP Ideas Podcast

Play Episode Listen Later Apr 6, 2023 59:27


Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedy's New Frontier to Biden's responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent events, including the financial crisis, the Great Recession, and monetary policy during COVID-19. A lively and concise narrative, A Monetary and Fiscal History of the United States, 1961-2021 (Princeton University Press, 2022) is filled with vital lessons for anyone who wants to better understand where the economy has been and where it might be headed. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. Caleb Zakarin is the Assistant Editor of the New Books Network.

New Books in Economics
Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)

New Books in Economics

Play Episode Listen Later Apr 6, 2023 59:27


Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedy's New Frontier to Biden's responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent events, including the financial crisis, the Great Recession, and monetary policy during COVID-19. A lively and concise narrative, A Monetary and Fiscal History of the United States, 1961-2021 (Princeton University Press, 2022) is filled with vital lessons for anyone who wants to better understand where the economy has been and where it might be headed. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

New Books in American Politics
Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)

New Books in American Politics

Play Episode Listen Later Apr 6, 2023 59:27


Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedy's New Frontier to Biden's responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent events, including the financial crisis, the Great Recession, and monetary policy during COVID-19. A lively and concise narrative, A Monetary and Fiscal History of the United States, 1961-2021 (Princeton University Press, 2022) is filled with vital lessons for anyone who wants to better understand where the economy has been and where it might be headed. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices

New Books in Finance
Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)

New Books in Finance

Play Episode Listen Later Apr 6, 2023 59:27


Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedy's New Frontier to Biden's responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent events, including the financial crisis, the Great Recession, and monetary policy during COVID-19. A lively and concise narrative, A Monetary and Fiscal History of the United States, 1961-2021 (Princeton University Press, 2022) is filled with vital lessons for anyone who wants to better understand where the economy has been and where it might be headed. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

New Books in Economic and Business History
Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)

New Books in Economic and Business History

Play Episode Listen Later Apr 6, 2023 59:27


Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy. Focusing on the most significant developments and long-term changes, Alan Blinder traces the highs and lows of monetary and fiscal policy, which have cooperated and clashed through many recessions and several long booms over the past six decades. From the fiscal policy of Kennedy's New Frontier to Biden's responses to the pandemic, the book takes readers through the stagflation of the 1970s, the conquest of inflation under Jimmy Carter and Paul Volcker, the rise of Reaganomics, and the bubbles of the 2000s before bringing the story up through recent events, including the financial crisis, the Great Recession, and monetary policy during COVID-19. A lively and concise narrative, A Monetary and Fiscal History of the United States, 1961-2021 (Princeton University Press, 2022) is filled with vital lessons for anyone who wants to better understand where the economy has been and where it might be headed. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. Caleb Zakarin is the Assistant Editor of the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices

Closing Bell
Closing Bell Overtime: Markets Close Higher Despite Midday Swoon; Randal Quarles on the Fed 3/23/23

Closing Bell

Play Episode Listen Later Mar 23, 2023 37:20


Stocks finish higher despite briefly turning negative in midday trading. G Squared's Victoria Green and JPMorgan's Phil Camporeale discuss the market action. Former Fed officials Randal Quarles and Alan Blinder weigh in on this week's rate hike and why Blinder called the 25bp move a “mistake.” Plus, Evercore's Mark Mahaney on why this time is different for TikTok and regulation as the CEO gets grilled on the hill. Block shares dropped nearly 15% after a scathing short seller report: SVB Moffetrnathanson's Lisa Ellis and Empire Financial Research's Herb Greenberg discuss what to make of the claims. 

What Goes Up
A Soft Landing Is Getting Harder

What Goes Up

Play Episode Listen Later Mar 3, 2023 43:35


Princeton University's Alan Blinder is one of the most prominent economists to have expressed optimism that the Federal Reserve can engineer a so-called “soft landing” for the US economy—taming inflation without triggering a recession. But Blinder, who served in the 1990s as a vice chair of the Fed and a member of the president's Council of Economic Advisers, explains on this episode of What Goes Up why he's toned down his assessment. A big reason is the change in the way the Bureau of Labor Statistics adjusts inflation data for seasonal factors, he says. The result is that, while inflation moderated in the second half of 2022, it didn't cool off as quickly as previous data indicated. Blinder says that means there's reason to expect more rate hikes from the Fed. “I think they still have a chance” at a soft landing, he concludes, “but it's a tougher chance than it was.”See omnystudio.com/listener for privacy information.

3 Takeaways
Former Vice Chair of the Federal Reserve Alan Blinder on Cryptocurrencies, Soft Landings and What's Really Happening with the US Economy Now. (#132)

3 Takeaways

Play Episode Listen Later Feb 14, 2023 21:10


The one and only Alan S. Blinder, former Vice Chair of the Federal Reserve and member of President Clinton's Council of Economic Advisors, shines a brilliant light on some of today's hottest economic topics — including the politicization of economic policy, the criminality of cryptocurrency, the likelihood of a soft landing, the prospect of a national digital currency, and more.

Uncle Jim’s World of Bonds
Alan Blinder: A Monetary & Fiscal History of the United States 1961-2021

Uncle Jim’s World of Bonds

Play Episode Listen Later Dec 2, 2022 17:26


An interview with the former Fed Vice Chair about his fascinating new book. Keynes, Kennedy, Friedman, Reagan, Bernanke, and Clinton v the Bond Vigilantes. It's all here. The book is out now.

WSJ Opinion: Free Expression
Between Inflation and Recession - US Economic Prospects for 2023

WSJ Opinion: Free Expression

Play Episode Listen Later Nov 30, 2022 38:36


With the U.S. economy facing a highly uncertain 2023, what's the bigger threat - inflation or recession? Federal Reserve Chair Jerome Powell is signaling slowing in the pace of interest rate increases after its fierce tightening this year, but has the Fed already gone too far? On the latest episode of the Free Expression podcast, Wall Street Journal Editor at Large Gerard Baker speaks to former Fed vice chairman Alan Blinder about what's next for the economy and monetary and fiscal policy.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Bloomberg Surveillance
Surveillance: Fed History with Blinder

Bloomberg Surveillance

Play Episode Listen Later Nov 23, 2022 27:08


 Alan Blinder, Princeton University Professor of Economics & "A Monetary & Fiscal History of the United States, 1961-2021" author, expects to see more separation between the Fed and the Treasury in time. Jeff Currie, Goldman Sachs Global Head of Commodities Research, says he will be bullish on oil come next spring. Troy Gayeski, FS Investment Solutions Chief Market Strategist & Managing Director, thinks Bitcoin will be around for the long haul, but says it will remain very volatile. Jennifer McKeown, Capital Economics Chief Global Economist, expects recessions in the UK and the Eurozone. See omnystudio.com/listener for privacy information.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

With Dr. Alan Blinder, former Vice Chair of the Federal Reserve and Author of "A Monetary and Fiscal History of the United States 1961-2021"

Science Salon
301. Alan Blinder — A Monetary and Fiscal History of the United States

Science Salon

Play Episode Listen Later Oct 11, 2022 76:51


Shermer and Blinder discuss: serving on Bill Clinton's Council of Economic Advisers • being the Vice Chair of the Federal Reserve Board • What kind of science is economics? • how one's political leanings influence cause-and-effect economic theories • the difference between monetary and fiscal policy • a Keynesian approach to economics • inflation, stagflation, recessions, depressions, Bull and Bear markets defined • interest rates • the Federal Reserve • the money supply • What makes money valuable without the gold standard? • how the government can give billions of dollars in COVID relief and other programs • deficit spending • business cycles/boom-and-bust cycles • Reagonomics/trickle-down economics • Is GDP the best measure of an economy's success? • unemployment and full employment: what's the right percentage? • income tax: what's the right percentage? • the best investments to make in the long run • modern monetary theory, and • utility maximizing. Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University, a former vice chair of the Federal Reserve Board, and a former member of the President's Council of Economic Advisers. A regular columnist for the Wall Street Journal, he is the author of many books, including the New York Times bestseller After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead. He lives in Princeton, New Jersey

The Paul Finebaum Show
Hour 2: Alan Blinder

The Paul Finebaum Show

Play Episode Listen Later Aug 8, 2022 43:59


Alan Blinder joins the show to talk to Paul about his article "They made history at Alabama but football stardom had a price." Learn more about your ad choices. Visit megaphone.fm/adchoices

Moody's Talks - Inside Economics
Blinder, Baseball, and Business Cycles

Moody's Talks - Inside Economics

Play Episode Listen Later Jul 29, 2022 67:14


Mark and Cris welcome Alan Blinder, Professor of Economics and Public Affairs at Princeton University, to discuss the prospects for recession, inflation, monetary policy and financial conditions.Follow Mark Zandi @MarkZandi, Ryan Sweet @RealTime_Econ and Cris deRitis @MiddleWayEcon for additional insight.

Once Upon A Crime | True Crime
Episode 234: Livestreamed Crimes: The WDBJ-TV On-Air Shooting

Once Upon A Crime | True Crime

Play Episode Listen Later Mar 14, 2022 32:34


A disgruntled, former television station employee takes out his revenge during a live news broadcast. Resources: “Ex-Broadcaster Kills 2 on Air Virginia Shooting” by Michael D. Shear, Richard Perez-Pena, and Alan Blinder, The New York Times, August 26, 2015. “Vester Lee Flanagan: 5 Fast Facts You Need to Know”, Tom Cleary, Heavy.com, April 8, 2021. “A Life of Listing Grievances, and Then Virginia Gunman's Final Homicidal Explosion”, Michael D. Shear and Sarah Maslin Nir, The New York Times, Aug 27, 2015. “Murder on social media: Killer wanted the world to watch”, Emily Brown, USA Today, Aug 26, 2015. Links: CrimeCon - www.crimecon.com www.crimecon.co.uk - Use discount code ONCEUPON22 for 10% off your registration. Our website - www.truecrimepodcast.com Patreon - www.patreon.com/onceuponacrime

Once Upon A Crime | True Crime
Episode 234: Livestreamed Crimes: The WDBJ-TV On-Air Shooting

Once Upon A Crime | True Crime

Play Episode Listen Later Mar 14, 2022 38:04


A disgruntled, former television station employee takes out his revenge during a live news broadcast.  Resources:  “Ex-Broadcaster Kills 2 on Air Virginia Shooting” by Michael D. Shear, Richard Perez-Pena, and Alan Blinder, The New York Times, August 26, 2015. “Vester Lee Flanagan: 5 Fast Facts You Need to Know”, Tom Cleary, Heavy.com, April 8, 2021.  “A Life of Listing Grievances, and Then Virginia Gunman's Final Homicidal Explosion”, Michael D. Shear and Sarah Maslin Nir, The New York Times, Aug 27, 2015.  “Murder on social media: Killer wanted the world to watch”, Emily Brown, USA Today, Aug 26, 2015.  Links: CrimeCon - www.crimecon.com www.crimecon.co.uk - Use discount code ONCEUPON22 for 10% off your registration. Our website - www.truecrimepodcast.com Patreon - www.patreon.com/onceuponacrime More about the Show:  Don't forget to subscribe to the podcast for free wherever you're listening or using this link: https://bit.ly/OnceUponACrimePodcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

With Dr. Alan Blinder, Professor of Economics & Public Affairs at Princeton University

A Second Opinion with Senator Bill Frist, M.D.
162 - Princeton University's Jessica Metcalf, Alan Blinder & Bill Dudley: “Covid-19, Fiscal Monetary and Health Policy Responses” – Part 5

A Second Opinion with Senator Bill Frist, M.D.

Play Episode Listen Later Jan 17, 2022 87:50


On January 14th, A Second Opinion joined with the Princeton University Griswold Center for Economic Policy Studies and Princeton's Center for Health and Wellbeing for Part 5 in a series, on the fiscal, monetary and health policy response implications of Covid-19.  You can hear Parts 1, 2, 3 & 4 of this series in our podcast episode numbers 48, 69, 96 and 122.   For our discussion, I'm joined by Princeton's leading economic and health policy experts: Jessica Metcalf, Associate Professor of Ecology, Evolutionary Biology & Public Affairs, Alan Blinder, the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs, and a former Vice Chairman of the Board of Governors of the Federal Reserve System, And Dr. Bill Dudley, former president of the Federal Reserve Bank of New York and now Senior Research Scholar at the Griswold Center for Economic Policy Studies.   In this wide-ranging discussion, we cover the latest on how our current public health crisis has dramatically changed and continues to impact our economy, and our fiscal and monetary policy.  You can see the video version of this talk, which includes presenters' slides, on our YouTube channel. 

Bloomberg Surveillance
Surveillance: The Future of the Fed

Bloomberg Surveillance

Play Episode Listen Later Nov 22, 2021 53:36


President Joe Biden selects Jerome Powell for a second four-year term as U.S. Federal Reserve chair and elevates Governor Lael Brainard to vice chair. A special edition of Bloomberg Surveillance gets the reaction from Kathy Jones, Charles Schwab Chief Fixed Income Strategist; Alan Blinder, Former Federal Reserve Vice Chair; Bob Michele, JPMorgan Investment Management CIO; Priya Misra, TD Securities Global Head of Rates Strategy; Eric Freedman, U.S. Bank Asset Management Chief Investment Officer; Danny Blanchflower, Dartmouth College Professor and more. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Demand Side
Why Politicians Ignore Economists

The Demand Side

Play Episode Listen Later Jun 21, 2021 49:02


The Paul Finebaum Show
Hour 1: Alan Blinder

The Paul Finebaum Show

Play Episode Listen Later May 10, 2021 41:50


New York Times' Writer Alan Blinder, joins the show to talk about his interview with Mark Emmert. He also talks about the difficulty of getting name, image and likeness legislation through congress, but he thinks it should eventually be up to congress.

A Second Opinion with Senator Bill Frist, M.D.
122 - Princeton University's Jessica Metcalf, Alan Blinder & Bill Dudley: “Covid-19, Fiscal Monetary and Health Policy Responses” – Part 4

A Second Opinion with Senator Bill Frist, M.D.

Play Episode Listen Later Apr 22, 2021 90:26


On April 16th, A Second Opinion joined with the Princeton University Griswold Center for Economic Policy Studies and Princeton's Center for Health and Wellbeing for Part 4 in a series, on the fiscal, monetary and health policy response implications of Covid-19. You can hear Parts 1, 2 & 3 of this series in our podcast episodes numbers 48, 69 and 96. For our discussion, I'm joined by Princeton's leading economic and health policy experts: • Dr. Jessica Metcalf, Assistant Professor of Ecology, Evolutionary Biology & Public Affairs, • Dr. Alan Blinder, the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs, and a former Vice Chairman of the Board of Governors of the Federal Reserve System, • And Dr. Bill Dudley, former president of the Federal Reserve Bank of New York and now Senior Research Scholar at the Griswold Center for Economic Policy Studies. Before we dive in – I just want to reflect back for a moment. The four of us first got together a year ago this April for our very first virtual event on Covid and the economy – and I don't think any of us predicted at that time all the challenges our nation would face in the year that followed. In this wide-ranging discussion, we cover what the latest economic indicators mean, what we can learn from the events of the past year, and how the pandemic will influence policy going forward.

C4 and Bryan Nehman
April 5th, 2021: NYT's Alan Blinder, Congressman Andy Harris, Heritage Foundation's Doug Badger, and MD Health Secretary Dennis Schrader

C4 and Bryan Nehman

Play Episode Listen Later Apr 5, 2021 120:00


C4 and Bryan Nehman heard weekdays from 5:30-10:00am ET on WBAL Newsradio 1090, FM101.5, and the WBAL Radio App.

Activist #MMT - podcast
Ep67 [1/2, 2/4]: Sam Levey: The core assumptions of mainstream economics (plus an update on Sam’s Phd.)

Activist #MMT - podcast

Play Episode Listen Later Feb 11, 2021 86:41


Welcome to episode 67 of Activist #MMT. Today I talk Sam Levey on the core assumptions of mainstream economics. Sam is a research scholar with the Global Institute for Sustainable Prosperity, a PhD candidate in economics at the University of Missouri Kansas City, or UMKC, and a co-founder of the online advocacy group, Deficit Owls. Sam starts by giving an update on his progress towards his PhD. After that, our conversation is all about the core assumptions of mainstream economics, which is currently neoclassical. This is part one of the new two-part conversation, but it's also part of two of a larger four-part series about the relationship between mainstream economics and MMT. Parts one and four are with Dirk Ehnts and Asker Voldsgaard (here's part one, which contains a link to all four parts). Last week, I spoke with Dirk and Asker about their 2020 paper which is a response to a 2019 paper by Jeppe Druedahl. Jeope's paper is a summary of the mainstream concern for the long-term fiscal sustainability of government spending, and its corresponding debt and interest on the debt. For more on the details of this particular argument, consider taking a listen to last week's episode. Today, Sam and I use Jeppe's paper as a bouncing off point for discussing the core assumptions on which the above argument, and mainstream economics in general, is built. To very briefly summarize Jeppe's argument: This conversation with Sam is focused on mainstream (which is currently neoclassical) economics, and more specifically, the fundamental assumptions that underlie it. As a jumping off point, I'm going to briefly review the paper I discussed last week with Asker Voldsgaard and Dirk Ehnts. They wrote a response to a 2019 paper by Danish economist Jeppe Druedahl. Jeppe's paper is called “A kinder egg on MMT“ and is basically the mainstream argument against MMT regarding the long-term fiscal sustainability of government spending, and its consequential debt and interest on the debt. In brief, under mainstream assumptions, if you model out government spending to infinity, which means at a minimum, 75 to 100 years, there are serious concerns. To such an extent, that there may be only two choices, both of which are genuine Economic Armageddon: hyperinflation or – despite the ability to issue its own currency – voluntarily default in order to avoid hyperinflation. You should consider reading Jeppe's paper, as well as Asker and Dirk's response. You should also listen to the previous episode where we discuss both. In addition, this argument has been thoroughly addressed in several papers by Scott Fulwiler, the latest being the 2020 paper called “When the interest rate on the national debt is a policy choice (and “printing money" does not apply)." Links to three of these papers by Scott, from 2006, 2016, and 2020, plus those by Asker and Dirk, and Jeppe, can be found in the show notes. As I understand it, when it comes to the particular concern of long-term fiscal sustainability, the core assumptions are: First and foremost, loanable funds: The idea that banks cannot issue loans by creating new money, but rather loan out other peoples money. In addition, the central government can borrow that money as if the government is just another private citizen or company. Loanable funds implies that financial crowding out is possible, which means that the non-government sector must compete for those loanable funds with the government. This further implies that, although the central bank can set the short-term interest rate that they wish to target (called the nominal rate), they have little to no control over long-term interest rates. These longer-term rates are called “real“ interest rates, because they are set by so-called “real“ forces in the market. Note the inherent ideology lurking behind that word “real.“ MMT says that there is only one way to spend which is by issuing currency. Taxation and bond sales may be necessary for other purposes, but when and for what is never directly related to the currency that is issued – and rarely-if-ever a one-to-one relationship. Mainstream calls issuing currency without selling bonds “printing money.“ It asserts that printing money is (A) not possible without also paying for it with the revenue from taxation or bond sales, either now or in the future. and (B) conversely, that it is indeed possible for the issuer to collect that revenue and then respend it at a later date. Again, MMT says this is not possible, as the only way for the issuer to spend is by... issuing. More specifically, this is done by expanding balance sheets at the central bank and Treasury, by making numbers bigger and smaller on accounting t-charts. Finally, mainstream also assumes perpetual or inevitable full employment, in addition to the god-like foresight to know what federal spending will be, not just next year, but 100 years into the future. In addition to the mainstream argument regarding fiscal sustainability, Sam and I talk about many other different topics, including deductive versus inductive reasoning, quantitative versus qualitative research methods, the Great Depression versus the Great Vacation, and statistical overfitting, We also discuss the contradictory view of how the central government is seen by mainstream as both a helpless dainty flower and, simultaneously, a potentially-catastrophically destructive force. We also answer a question by a patron of Activist #MMT, Alexander, regarding the mainstream response to sectoral balances in the context of loanable funds. Finally, we talk about how and why mainstream economics considers money to be "special." Basically, in the mainstream view, money is a scarce, physical thing – in other words, no different than any other commodity. This means that the only way for someone in the non-government sector (citizens and businesses) to get new money, is for it to be wrested from the hands of another citizen or business. Under the theory of loanable funds, even government spending comes from the non-government sector, and so must also be ripped from the hands of someone in the economy. Hence, a zero sum game and crowding out. scarce! But even if not scarce, the assumption of full employment SIMULATES scarcity! MMT recognizes that all kinds of money, including reserves, cash, bonds, and other treasuries, is not scarce but another type of IOU. As Sam told me, "finance itself is not scarce, It's a coordination mechanism." This insight and reality changes the battle from, “from whose hands will we take the money?“ To “Who will we put in charge of this coordination?" As MMT recognizes, the latter has always been the case. The former is predicated on the assumption that our money can and will never be coordinated by the government. As Neil Wilson said to Phil Armstrong on their recent Gower Initiative interview (to paraphrase): “the plane works just fine, we just seriously need a new crew.“ Sam takes this further by saying that we need a new process with which to choose that crew. However, even if we do get a new process, even if we do get money out of our politics, and even if we do get a new and good crew, none of it matters if money is truly scarce and special, such as under loanable funds. If money is scarce, then we as a society and citizens, and the government that is supposed to represent us, will never be in charge of coordinating our money. As a final note, I also talk about the mainstream assumptions of the neutrality of money in episode 57, which is part two with Asad Zaman, and historical time in last week's episode with Dirk and Asker. And now onto my conversation with Sam Levey. Resources My primary source for preparing for this interview was Steve Keen's 2011 book, Debunking Ecoonmics, second edition. Every episode and snippet on Activist #MMT with Sam. I discuss the neutrality of money in part two with Asad Zaman, on episode 57. Michael Kalecki's 1943 paper, Political Aspects of Full Employment (Sam considers this papers one of his favorites) Yale economics professor, Truman F Bewley 1998 book by Alan Blinder, Elie R.D. Canetti, David E. Lebow, and Jeremy B. Rudd, Asking About Prices: A New Approach to Understanding Price Stickiness Sherlock Holmes is the master of deduction (the difference between deductive and inductive reasoning) Eric Grauchwe's 2018 book, Winter War: Hoover, Roosevelt, and the First Clash Over the New Deal Here's Sam's response to my statements regarding S=I: "So, they way Keynes defines *actual* S and I, they are always equal at all times no matter what. Usually if you’re talking about the possibility that they might not be equal at some time, then you’re talking about *desired* or *planned* S and I. Keynes has a 1937 paper that goes into this issue, which is still important for PKE I think. “The Ex Ante Theory of the Rate of Interest." Full context of question by Activist #MMT patron, Alexander Dear Sam, I wonder if you could explain what is the neoclassical equivalent of the sectoral balance view in national accounting. And how it is different from the heterodox perspective. Today I've shared a post about EU interest Payments in % of GDP “Public-debt-to GDP can be a misleading metric in assessing debt sustainability; it does not account for interest payments!" (https://twitter.com/heimbergecon/status/1330806100992651264) I got this reply from a banking consultant: “This is a terrible argument because it ignores both the impact on investment appetite of the destruction of the time value of money, and the misallocating to the public sector of a disproportionate share of available funds, starving the private sector and disrupting the yield/safety/liquidity equation." … My answer: Dear Bob Lyddon, there is no tradeoff between funds spent into the public or into the private sector. This is because the public sector, the government creates those funds as it spends. This at least is true if the government has a sovereign currency, a central bank and a treasury. As shown in the Sectoral Balance View of National Accounts: (S – I) + (T – G) + (-CAB) = 0 Meaning: The private domestic financial balance (household savings minus private investment, S - I) plus the government financial balance (gov. tax revenue minus gov. spending, T - G) plus the current account balance (- net exports + net external income flows, CAB) equals zero Meaning: The public sector deficit must be the income of the other two sectors. This is an accounting identity. It is true by definition! With external trade in balance, the government deficit must be the private sector income! Asking the government to reduce its deficit equals asking the private sector to reduce its total income!

P&L With Paul Sweeney and Lisa Abramowicz
GameStop Is Rage Against the Financial Machine: John Authers

P&L With Paul Sweeney and Lisa Abramowicz

Play Episode Listen Later Jan 27, 2021 34:29


John Authers, Senior Editor for Bloomberg Markets, discusses his column: "GameStop Is Rage Against the Financial Machine." Alan Blinder, Former Fed Vice Chairman and Professor at Princeton University, discusses why a healthy economy depends on Congress passing the virus relief bill. Bryan Whalen, Group Managing Director for TCW’s Fixed Income Group, on why credit portfolios need to account for a post-covid world. Dr. Don Vaughn, PhD., Head of Product for Invisibly, discusses the results of their vaccine attitudes survey: 47% of people are unlikely to get the covid-19 vaccine. Kathy Burton, Bloomberg Hedge fund reporter, discusses her story: “Reddit Traders Bludgeon Melvin Capital in Warning to Wall Street.” Hosted by Paul Sweeney and Vonnie Quinn. 

What'd You Miss This Week
The Shortened Trading Week Wasn't Short on Records

What'd You Miss This Week

Play Episode Listen Later Nov 30, 2020 34:28


This week, Alan Blinder, former vice chairman of the Federal Reserve, member of President Clinton's original Council of Economic Advisers, and Princeton professor, joined to talk about the road ahead for the economic recovery, the new slate of policymakers who will be at the helm of it and whether the Trump administration is trying to make their eventual job more difficult. Columbia Law School professor Kathryn Judge discussed what a Janet Yellen Treasury means for financial regulation. Skanda Amarnath, director of research and analysis at Employ America, took us through the tensions playing out between Treasury Secretary Steven Mnuchin and the Federal Reserve. Then David Wilcox, a former senior adviser to the last three Federal Reserve chairs and current senior fellow at the Peterson Institute for International Finance came on to discuss his new report about the role of generational wealth and economic mobility.

A Second Opinion with Senator Bill Frist, M.D.
96 - Princeton University's Jessica Metcalf, Alan Blinder & Bill Dudley: “COVID-19, Fiscal, Monetary and Health Policy Responses” – Part 3

A Second Opinion with Senator Bill Frist, M.D.

Play Episode Listen Later Nov 20, 2020 90:40


On November 13th, A Second Opinion joined with the Princeton University Griswold Center for Economic Policy Studies and Princeton's Center for Health and Wellbeing for Part 3 in a series, on the fiscal, monetary and health policy response implications of Covid-19.  You can hear Part 1 and Part 2 of this series in our podcast episodes numbers 48 and 69.   For our discussion, I'm joined by Princeton's leading economic and health policy experts: Jessica Metcalf, Assistant Professor of Ecology, Evolutionary Biology & Public Affairs, Alan Blinder, the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs, and a former Vice Chairman of the Board of Governors of the Federal Reserve System, And Dr. Bill Dudley, former president of the Federal Reserve Bank of New York and now Senior Research Scholar at the Griswold Center for Economic Policy Studies. In this wide-ranging discussion, we cover the latest vaccine science, the implications of a Biden Presidency for fiscal and monetary policy, and Covid-19 relief, and the impact of the rapidly growing federal debt.

Macro Musings with David Beckworth
Adam Ozimek on the Past, Present, and Future of Remote Work in the Face of COVID-19

Macro Musings with David Beckworth

Play Episode Listen Later Nov 16, 2020 51:41


Adam Ozimek is the chief economist for Upwork, a global remote freelancing platform, and a returning guest to the podcast. Adam rejoins Macro Musings to talk about some of the lasting impacts of the pandemic on businesses; specifically its influence on remote work. David and Adam also discuss the results of the payment protection program, why the prime age employment to population ratio should become the most important employment measure, the economic geography of remote work, and more.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Adam’s Twitter: @ModeledBehavior Adam’s website: https://adamozimek.com/   Related Links:   *The Future of Remote Work*by Adam Ozimek https://www.upwork.com/press/releases/the-future-of-remote-work   *COVID-19 and Remote Work: An Early Look at US Data* by Erik Byrnjolfsson, John Horton, Adam Ozimek, Daniel Rock, Garima Sharma, and Hong-Yi TuYe https://www.nber.org/papers/w27344   *Where Remote Work Saves Commuters Most* by Adam Ozimek https://www.upwork.com/press/releases/where-remote-work-saves-commuters-most   *When Work Goes Remote* by Adam Ozimek https://www.upwork.com/research/when-work-goes-remote   *How Many Jobs can be Done at Home?* by Jonathan Dingel and Brent Neiman https://bfi.uchicago.edu/wp-content/uploads/BFI_White-Paper_Dingel_Neiman_3.2020.pdf   *How Many U.S. Jobs Might be Offshorable?* by Alan Blinder https://www.princeton.edu/~ceps/workingpapers/142blinder.pdf   David’s Twitter: @DavidBeckworth David’s blog: http://macromarketmusings.blogspot.com/

Policy Punchline
Is the Fed Secretly Behind the Stock Market Rally? Alan Blinder on Fed, Inequality, Financialization

Policy Punchline

Play Episode Listen Later Jul 12, 2020 42:51


Alan Blinder was the Vice Chairman of the Board of Governors of the Federal Reserve System under President Bill Clinton. In this episode, we seek to answer questions on the Fed’s unprecedented actions in light of the COVID-19 crisis and their long-term implications, from whether the injection of liquidity is propping up the financial markets in unhealthy ways, to whether the lack of coordination between fiscal and monetary policies could potentially exacerbate inequality like after the 2008 financial crisis… We say that the Fed’s actions have been unprecedented because it not only pledged to buy an unlimited quantity of government debt, but also decided to support even some of the riskiest corporate bonds; it lowered the target rate to 0-0.25 percent and announced in the June FOMC meeting that it’s not even “thinking about thinking about raising rates…” Is the Fed well-equipped to mitigate the economic effects of a pandemic? In the process, how can we manage the public expectation so that the Fed is not being given “mission impossibles?” The Fed’s “Main Street” lending to small/medium sized businesses has somewhat pushed the Fed to uncharted territory. While Prof. Blinder believes that the Fed is doing a better job of injecting money into Main Street than it did in 2008, he acknowledges that the Fed is primarily equipped to support large corporations, and as such may play a role in exacerbating inequality. He also argues that the financial system has grown too large, to the point where “the tail is wagging the dog.” An expert on the 2008 financial crisis, Prof. Blinder walks us through a series of critical comparisons. Today’s crisis is not one created by housing bubbles or elaborate financial instruments, so there generally seems to be less resentment among everyday Americans towards financial elites. But by stepping into junk bond territory, the Fed has effectively backstopped some of the biggest names in the hedge fund and private equity industry and some of the most aggressive speculators. Will there be a strong reaction against financial elites similar to the one we saw in 2008-09 with the Occupy Wall Street movement? A lot of studies have been done on how the 2008 financial crisis bailout exacerbated inequality in the U.S. One reason often given by economists and journalists is that the monetary policy response was adequate, but the fiscal stimulus didn’t follow suit. How do we ensure that the same doesn’t happen again? How can the Fed and the Treasury be smarter and attach more conditions to the loans and grants they make to large corporations? In a recent Wall Street Journal op-ed, Prof. Blinder dismissed concerns over the inflationary impact of the Fed’s radical monetary policies as “Scarlett O’Hara questions” about the long-term effects of the Fed’s monetary policy – specifically on the deficit and on inflation. He argues that these potential issues are not particularly pressing or worrisome and that these are questions to be dealt with after the coronavirus crisis is averted: “I’ll think about that tomorrow.” In this episode, we probe deeper into the reasoning behind this idea, and whether the fear of the deficit or inflation might undermine the economic recovery in the short and long run. Full bio: Alan Blinder is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University. He previously served as the Vice Chairman of the Board of Governors of the Federal Reserve System under Bill Clinton, as well as on Clinton’s Council of Economic Advisors. Blinder is one of the leading voices in the discourse surrounding fiscal and monetary policy, and has written many best-selling books, including the latest “Advice and Dissent: Why America Suffers When Economics and Politics Collide.”

A Second Opinion with Senator Bill Frist, M.D.
69 - COVID-19 Fiscal, Monetary & Health Policy Implications: Part 2 with Princeton University's Jessica Metcalf, Alan Blinder & Bill Dudley

A Second Opinion with Senator Bill Frist, M.D.

Play Episode Listen Later Jun 11, 2020 93:53


On June 9th, A Second Opinion joined with the Princeton University Griswold Center for Economic Policy Studies and the Center for Health and Wellbeing for our second virtual COVID-19 discussion on the “fiscal, monetary and health policy responses and implications for the economic outlook.” You can hear Part 1 of our discussion in our April 3rd podcast episode. In this wide-ranging discussion, we covered the potential economic impact of a second wave, how the federal government should rework its emergency unemployment benefits to incentive a return to work, and how the Federal Reserve's decisions affect communities of color. Visit A Second Opinion's website here: https://asecondopinionpodcast.com/ Engage with us on social media at: Facebook Twitter Instagram

The Paul Finebaum Show
Hour 1: 6/5/20

The Paul Finebaum Show

Play Episode Listen Later Jun 5, 2020 36:25


First calls of the day, plus Alan Blinder of the New York Times.

The Paul Finebaum Show
Hour 3: 4/13/20

The Paul Finebaum Show

Play Episode Listen Later Apr 13, 2020 38:16


Calls plus Alan Blinder of the New York Times.

A Second Opinion with Senator Bill Frist, M.D.
48 - Princeton University's Jessica Metcalf, Alan Blinder & Bill Dudley: “COVID-19: Fiscal, monetary and health policy responses"

A Second Opinion with Senator Bill Frist, M.D.

Play Episode Listen Later Apr 3, 2020 90:05


On April 2nd, A Second Opinion joined with the Princeton University Griswold Center for Economic Policy Studies and the Center for Health and Wellbeing to host a virtual COVID-19 discussion on the “fiscal, monetary and health policy responses and implications for the economic outlook.” I was joined by Jessica Metcalf, Assistant Professor of Ecology, Evolutionary Biology & Public Affairs, an expert in disease modeling, vaccination programs, and the challenges of disease elimination. Alan Blinder, Gordon S. Rentschler Memorial Professor of Economics and Public Affairs, a former Vice Chairman of the Board of Governors of the Federal Reserve System, and economic advisor to President Clinton. And Bill Dudley, former president of the Federal Reserve Bank of New York and now Senior Research Scholar at the Griswold Center for Economic Policy Studies. In this wide-ranging discussion, we covered the projected economic impacts of COVID-19, what the Federal Reserve can hope to achieve with its toolkit, and what the disease models are telling us.

The Paul Finebaum Show
Hour 2: 2/20/20

The Paul Finebaum Show

Play Episode Listen Later Feb 20, 2020 36:28


Calls plus Chris Low, ESPN Senior CFB Writer, and Alan Blinder, New York Times.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

With Dr. Alan Blinder, Professor of Economics & Public Policy at Princeton University

Murder Down South
Episode 32 - The Charleston Church Massacre, Part 3

Murder Down South

Play Episode Listen Later Nov 18, 2019 107:23


In the conclusion of our three part series on the Charleston Church Massacre, we discuss the aftermath of the shooting and the effect it had on the church and community. We also discuss the sentencing of the assailant.Audience SurveyEpisode PageNamUs Case - NamUs #UP13772NamUs Case - NamUs #UP13773Episode Sources:https://www.onthisday.com/date/2015 - 2015 Informationhttps://en.wikipedia.org/wiki/Charleston,_South_Carolina - Charleston, SC Wikihttps://motheremanuel.com/about-us/ - The AME Church website.https://emanuelempowerment.org/ - Mother Emanuel Empowerment Center - MEEC website.https://www.npr.org/2018/07/16/629424811/architect-unveils-design-for-mother-emanuel-ame-church-memorial - Architect Unveils Design For Emanuel AME Church Memorial - NPR article by Camila Domonoske (July 16, 2018).A Short History of Charleston - Book by Robert Rosen (Second edition published in 1992).https://en.wikipedia.org/wiki/Gullah_Gullah_Island - Gullah Gullah Island Wikipedia page.https://civilrightstrail.com/attraction/emanuel-ame-church/ - Emanuel African Methodist Episcopal Church page on the United States Civil Rights Trail website.https://www.npr.org/sections/codeswitch/2016/06/08/481149042/how-a-shooting-changed-charlestons-oldest-black-church - How a Shooting Changed Charleston’s Oldest Black Church - NPR article by Debbie Elliot (June 8, 2016).https://www.npr.org/sections/thetwo-way/2015/06/18/415452594/mother-emanuel-church-suffers-a-new-loss-in-charleston - ‘Mother Emanuel’ Church Suffers A New Loss In Charleston - NPR article by Bill Chappell (June 18, 2015).https://www.nytimes.com/2016/05/09/us/charleston-church-distributes-1-5-million-to-families-of-victims.html - Charleston Church Distributes $1.5 Million to Families of Victims - NYT article by The Associated Press (May 8, 2016).https://discoversouthcarolina.com/products/3404 - Emanuel AME Church’s page on Discover South Carolina website.https://www.postandcourier.com/news/special_reports/slavery-in-charleston-a-chronicle-of-human-bondage-in-the/article_54334e04-4834-50b7-990b-f81fa3c2804a.html - Slavery in Charelston: A chronicle of human bondage in the Holy City - The Post and Courier article by Brian Hicks (April 9, 2011).https://www.nytimes.com/2017/01/10/us/dylann-roof-trial-charleston.html - Dylann Roof Is Sentenced to Death in Charleston Church Massacre - NYT article by Alan Blinder and Kevin Sack (January 10, 2017).https://time.com/5647304/white-nationalist-terrorism-united-states/ - ‘We Are Being Eaten From Within.’ Why America Is Losing the Battle Against White Nationalist Terrorism - Time Magazine article by Vera Bergengruen and W.J. Hennigan (August 8, 2019).https://www.theguardian.com/us-news/2019/aug/04/el-paso-shooting-white-nationalist-supremacy-violence-christchurch - 'White power ideology': why El Paso is part of a growing global threat - Guardian article by Lois Beckett and Jason Wilson (August 5, 2019).https://www.theatlantic.com/politics/archive/2019/08/conversation-christian-picciolini/595543/ - A Reformed White Nationalist Says the Worst Is Yet to Come - The Atlantic Article by Yara Bayoumy And Kathy Gilsinan (August 6, 2019).https://www.latimes.com/world-nation/story/2019-08-07/domestic-terrorism-white-supremacists-islamic-state-recruits - White supremacists and Islamic State recruits have more in common than you might think - LA Times article by Melissa Etehad (August 7, 2019).https://www.nytimes.com/2015/06/27/us/thousands-gather-for-funeral-of-clementa-pinckney-in-charleston.html?module=inline - President Obama Eulogizes Charleston Pastor as One Who Understood Grace - The New York Times article by Kevin Sack and Gardiner Harris (June 25, 2015).https://www.nytimes.com/2016/12/09/us/dylann-roof-shooting-charleston-south-carolina-church-video.html?module=inline - Jurors Hear Dylann Roof Explain Shooting in Video: ‘I Had to Do It’ - The New York Times article by Kevin Sack and Alan Blinder (December 9, 2016).https://www.nytimes.com/2017/01/05/us/no-regrets-from-dylann-roof-in-jailhouse-manifesto.html?module=inline - No Regrets From Dylann Roof in Jailhouse Manifesto - The New York Times article by Kevin Sack and Alan Blinder (January 5, 2017).https://www.nytimes.com/2016/12/14/us/dylann-roof-trial-charleston.html?module=inline - Spared by Gunman in Charleston, Churchgoer Describes Night of Terror - The New York Times article by Alan Blinder and Kevin Sack (December 14, 2016).https://www.nytimes.com/2016/12/07/us/dylann-roof-trial.html?module=inline - Heart-Rending Testimony as Dylann Roof Trial Opens - The New York Times article by Kevin Sack and Alan Blinder (December 7, 2016).https://www.npr.org/sections/thetwo-way/2018/03/15/593799322/sister-of-charleston-shooter-dylann-roof-arrested-after-menacing-social-media-po - Sister Of Charleston Shooter Dylann Roof Arrested After Menacing Social Media Post - NPR article by Scott Neuman (March 15, 2018).https://www.gq.com/story/dylann-roof-making-of-an-american-terrorist - A Most American Terrorist: The Making of Dylann Roof - GQ article by Rachel Kaadzi Ghansah (August 21, 2017).https://www.vox.com/policy-and-politics/2019/2/7/18215634/dylann-roof-charleston-church-shooter-bowl-gang - An online subculture celebrating the Charleston church shooter appears to be inspiring copycat plots - Vox article by Zack Beauchamp (February 7, 2019).https://www.nbcnews.com/storyline/charleston-church-shooting/charleston-shooter-dylann-roof-moved-death-row-terre-haute-federal-n749671 - Charleston Shooter Dylann Roof Moved to Death Row in Terre Haute Federal Prison - NBC News article by Avalon Zoppo (April 22, 2017).https://www.postandcourier.com/news/now-that-capital-punishment-is-back-dylann-roof-s-execution/article_764cb004-af0c-11e9-b949-a7d20c2c791a.html - Now that capital punishment is back, Dylann Roof’s execution can move forward - The Post and Courier article by Michael Majchrowicz and Gregory Yee Mmajchrowicz (July 25, 2019).https://www.cnn.com/2019/08/31/us/dylann-roof-survivors-lawsuit/index.html - Families of Dylann Roof victims can sue US government, court rules - CNN article by Jay Croft (August 31, 2019).https://www.cbsnews.com/news/dylann-roof-drove-second-black-church-charleston-shooting/ - Dylann Roof drove toward second black church after Charleston shooting, prosecutors say - CBS News article (February 22, 2017).https://www.apnews.com/f56b7776bbd940ecaee34845fca86da6 - Appeals court reinstates lawsuit in SC church shooting case - AP article by Denise Lavoie (August 30, 2019).https://www.gq.com/story/dylann-roof-making-of-an-american-terrorist - Episode Imagehttps://www.behindthebastards.com/podcasts/the-story-behind-all-those-nazi-clown-memes.htm - “Behind the Bastards” Episode 90 - The Story Behind All Those Nazi / Clown MemesCleanser:https://en.wikipedia.org/wiki/Robert_Smalls - Robert Smalls Wikipedia PageSocial Media:WebsiteInstagramTwitterIntro Music:She-Wolf In My Heart (bonus) by Sergey Cheremisinov is licensed under a Attribution License.Outro Music:Trio for Piano Violin and Viola by Kevin MacLeod is licensed under a Creative Commons Attribution License.

Murder Down South
Episode 30 - The Charleston Church Massacre, Part 1

Murder Down South

Play Episode Listen Later Oct 14, 2019 92:46


This episode is part one of our three part series on the Charleston Church Massacre which occurred in Charleston, SC in 2015. In part one we cover the history of Charleston, black history in Charleston (especially regarding Christianity), and how Roof and others like him are radicalized into white supremacy.Audience SurveyEpisode PageCase Updates Sources:https://www.military.com/daily-news/2019/10/12/hearing-set-consider-dna-testing-case-executed-man.html - Hearing Set to Consider DNA Testing in Case of Man Executed for Killing Marine - Military.com article by the Associated Press (October 12, 2019).https://www.gaytimes.co.uk/community/128214/itali-marlowe-is-the-20th-trans-person-to-be-killed-in-the-us-this-year/ - Itali Marlowe is the 20th trans person to be killed in the US this year - Gay Times article by Sam Damshenas (October 10, 2019).Episode Sources:https://www.onthisday.com/date/2015 - 2015 Informationhttps://en.wikipedia.org/wiki/Charleston,_South_Carolina - Charleston, SC Wikihttps://motheremanuel.com/about-us/ - The AME Church website.https://emanuelempowerment.org/ - Mother Emanuel Empowerment Center - MEEC website.https://www.npr.org/2018/07/16/629424811/architect-unveils-design-for-mother-emanuel-ame-church-memorial - Architect Unveils Design For Emanuel AME Church Memorial - NPR article by Camila Domonoske (July 16, 2018).A Short History of Charleston - Book by Robert Rosen (Second edition published in 1992).https://en.wikipedia.org/wiki/Gullah_Gullah_Island - Gullah Gullah Island Wikipedia page.https://civilrightstrail.com/attraction/emanuel-ame-church/ - Emanuel African Methodist Episcopal Church page on the United States Civil Rights Trail website.https://www.npr.org/sections/codeswitch/2016/06/08/481149042/how-a-shooting-changed-charlestons-oldest-black-church - How a Shooting Changed Charleston’s Oldest Black Church - NPR article by Debbie Elliot (June 8, 2016).https://www.npr.org/sections/thetwo-way/2015/06/18/415452594/mother-emanuel-church-suffers-a-new-loss-in-charleston - ‘Mother Emanuel’ Church Suffers A New Loss In Charleston - NPR article by Bill Chappell (June 18, 2015).https://www.nytimes.com/2016/05/09/us/charleston-church-distributes-1-5-million-to-families-of-victims.html - Charleston Church Distributes $1.5 Million to Families of Victims - NYT article by The Associated Press (May 8, 2016).https://discoversouthcarolina.com/products/3404 - Emanuel AME Church’s page on Discover South Carolina website.https://www.postandcourier.com/news/special_reports/slavery-in-charleston-a-chronicle-of-human-bondage-in-the/article_54334e04-4834-50b7-990b-f81fa3c2804a.html - Slavery in Charelston: A chronicle of human bondage in the Holy City - The Post and Courier article by Brian Hicks (April 9, 2011).https://www.nytimes.com/2017/01/10/us/dylann-roof-trial-charleston.html - Dylann Roof Is Sentenced to Death in Charleston Church Massacre - NYT article by Alan Blinder and Kevin Sack (January 10, 2017).https://time.com/5647304/white-nationalist-terrorism-united-states/ - ‘We Are Being Eaten From Within.’ Why America Is Losing the Battle Against White Nationalist Terrorism - Time Magazine article by Vera Bergengruen and W.J. Hennigan (August 8, 2019).https://www.theguardian.com/us-news/2019/aug/04/el-paso-shooting-white-nationalist-supremacy-violence-christchurch - 'White power ideology': why El Paso is part of a growing global threat - Guardian article by Lois Beckett and Jason Wilson (August 5, 2019).https://www.theatlantic.com/politics/archive/2019/08/conversation-christian-picciolini/595543/ - A Reformed White Nationalist Says the Worst Is Yet to Come - The Atlantic Article by Yara Bayoumy And Kathy Gilsinan (August 6, 2019).https://www.latimes.com/world-nation/story/2019-08-07/domestic-terrorism-white-supremacists-islamic-state-recruits - White supremacists and Islamic State recruits have more in common than you might think - LA Times article by Melissa Etehad (August 7, 2019).https://www.nytimes.com/2015/06/27/us/thousands-gather-for-funeral-of-clementa-pinckney-in-charleston.html?module=inline - President Obama Eulogizes Charleston Pastor as One Who Understood Grace - The New York Times article by Kevin Sack and Gardiner Harris (June 25, 2015).https://www.nytimes.com/2016/12/09/us/dylann-roof-shooting-charleston-south-carolina-church-video.html?module=inline - Jurors Hear Dylann Roof Explain Shooting in Video: ‘I Had to Do It’ - The New York Times article by Kevin Sack and Alan Blinder (December 9, 2016).https://www.nytimes.com/2017/01/05/us/no-regrets-from-dylann-roof-in-jailhouse-manifesto.html?module=inline - No Regrets From Dylann Roof in Jailhouse Manifesto - The New York Times article by Kevin Sack and Alan Blinder (January 5, 2017).https://www.nytimes.com/2016/12/14/us/dylann-roof-trial-charleston.html?module=inline - Spared by Gunman in Charleston, Churchgoer Describes Night of Terror - The New York Times article by Alan Blinder and Kevin Sack (December 14, 2016).https://www.nytimes.com/2016/12/07/us/dylann-roof-trial.html?module=inline - Heart-Rending Testimony as Dylann Roof Trial Opens - The New York Times article by Kevin Sack and Alan Blinder (December 7, 2016).https://www.npr.org/sections/thetwo-way/2018/03/15/593799322/sister-of-charleston-shooter-dylann-roof-arrested-after-menacing-social-media-po - Sister Of Charleston Shooter Dylann Roof Arrested After Menacing Social Media Post - NPR article by Scott Neuman (March 15, 2018).https://www.gq.com/story/dylann-roof-making-of-an-american-terrorist - A Most American Terrorist: The Making of Dylann Roof - GQ article by Rachel Kaadzi Ghansah (August 21, 2017).https://www.vox.com/policy-and-politics/2019/2/7/18215634/dylann-roof-charleston-church-shooter-bowl-gang - An online subculture celebrating the Charleston church shooter appears to be inspiring copycat plots - Vox article by Zack Beauchamp (February 7, 2019).https://www.nbcnews.com/storyline/charleston-church-shooting/charleston-shooter-dylann-roof-moved-death-row-terre-haute-federal-n749671 - Charleston Shooter Dylann Roof Moved to Death Row in Terre Haute Federal Prison - NBC News article by Avalon Zoppo (April 22, 2017).https://www.postandcourier.com/news/now-that-capital-punishment-is-back-dylann-roof-s-execution/article_764cb004-af0c-11e9-b949-a7d20c2c791a.html - Now that capital punishment is back, Dylann Roof’s execution can move forward - The Post and Courier article by Michael Majchrowicz and Gregory Yee Mmajchrowicz (July 25, 2019).https://www.cnn.com/2019/08/31/us/dylann-roof-survivors-lawsuit/index.html - Families of Dylann Roof victims can sue US government, court rules - CNN article by Jay Croft (August 31, 2019).https://www.cbsnews.com/news/dylann-roof-drove-second-black-church-charleston-shooting/ - Dylann Roof drove toward second black church after Charleston shooting, prosecutors say - CBS News article (February 22, 2017).https://www.apnews.com/f56b7776bbd940ecaee34845fca86da6 - Appeals court reinstates lawsuit in SC church shooting case - AP article by Denise Lavoie (August 30, 2019).https://www.gq.com/story/dylann-roof-making-of-an-american-terrorist - Episode ImageSocial Media:WebsiteInstagramTwitterIntro Music:She-Wolf In My Heart (bonus) by Sergey Cheremisinov is licensed under a Attribution License.Outro Music:Trio for Piano Violin and Viola by Kevin MacLeod is licensed under a Creative Commons Attribution License.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

With Dr. Alan Blinder, Professor of Economics & Public Affairs at Princeton University

Net Assessment
Is It the End of the World, As We Know It?

Net Assessment

Play Episode Listen Later Jan 10, 2019 51:19


The United States has managed to avoid foreign policy catastrophes during the first two years of the Trump administration, but defenders of American primacy espy trouble on the horizon. Most Americans have no living memory of the 1930s and World War II, and younger Americans, who have known only the inconclusive wars of the last fifteen years, are far less likely than their parents and grandparents to support higher levels of military spending. They favor a different kind of global engagement, one not predicated on American hard power. But can the liberal international order, such as it is, survive without America’s “big stick” military to back it up? And what, if anything, would replace it? On the lighter side, Melanie and Bryan also discuss binge-watching foreign television series over the holidays, and Chris shines the light on our safer, healthier, and wealthier world.   Links  Eliot A. Cohen, “America’s Long Goodbye: The Real Crisis of the Trump Era,” Foreign Affairs, January/February 2019 The Chicago Council on Global Affairs, "The Clash of Generations? Intergenerational Change and American Foreign Policy Views," June 2018 Dorothy Manevich and Hanyu Chwe, “Globally, More People See U.S. Power and Influence as a Major Threat,” Pew Research Center, August 1, 2017 Micah Zenko, “James Mattis Wasn’t Ready to Serve in a Democracy,” Foreign Policy, December 27, 2018 Katie Bo Williams, “The Biggest Difference Between Inhofe and Smith? How Much Danger They Think the US Faces,” Defense One, December 18, 2018 Greg Ip, “The World Is Getting Quietly, Relentlessly Better,” Wall Street Journal, January 2, 2019 Faith Karimi, "Pentagon Chief of Staff Kevin Sweeney Resigns," CNN, January 7, 2019 Mathilde Boussion, "As Congo Delays Election Results, People's Suspicions Rise," Washington Post, January 8, 2019 Scott Shane and Alan Blinder, "Secret Experiment in Alabama Senate Race Imitated Russian Tactics," New York Times, December 19, 2018 Paul Staniland, Tweets, December 21, 2018 "The Ocean Clean Up" "HumanProgress"   Music and Production by Tre Hester 

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Fmr. Federal Reserve Vice Chairman, Dr. Alan Blinder discusses his new book - Please call 1-800-388-9700 for a free review of your financial portfolio

P&L With Paul Sweeney and Lisa Abramowicz
Trump Government Muddies Economics With Politics: Alan Blinder

P&L With Paul Sweeney and Lisa Abramowicz

Play Episode Listen Later Apr 3, 2018 30:08


Alan Blinder, economist and former Vice-Chair of the Federal Reserve, on his new book, "Advice and Dissent: Why America Suffers When Economics and Politics Collide." Jordyn Holman, Bloomberg reporter, discusses why Sinclair contracts made it too expensive for reporters to quit amidst controversy over pro-Trump scripts. Baroness Helena Kennedy, Labour Party Member at the House of Lords, on outlook for Brexit, and how the UK economy is already feeling the pinch. Jonathan Miller, President and CEO of Miller Samuel, on Manhattan home prices plunging by the most since the recession. 

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Dr. Alan Blinder, Professor of Economics at Princeton University - Please call 1-800-388-9700 for a free review of your financial portfolio

Bloomberg Surveillance
French Election Isn't a Big Short-Term Risk, Blanchard Says

Bloomberg Surveillance

Play Episode Listen Later Apr 21, 2017 43:15


Olivier Blanchard, former chief economist at the IMF, says the French election isn't a big short-term risk and the lack of informed economics debate is an issue. Prior to that, Jason Furman, a senior fellow at the Peterson Institute, says economic problems have been increasing since the 1950s. Alice Rivlin, a former vice chair of the Fed, says the U.S. political system's so polarized that the country isn't getting anything done. Jacob Frenkel, chairman of JPMorgan Chase International, says geopolitics are the sources of economic uncertainty. Finally, Alan Blinder, a former vice chair of the Fed, says the U.S. isn't going back to the nominal interest rates to which investors had become accustomed. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Bloomberg Surveillance
French Election Isn't a Big Short-Term Risk, Blanchard Says

Bloomberg Surveillance

Play Episode Listen Later Apr 21, 2017 42:30


Olivier Blanchard, former chief economist at the IMF, says the French election isn't a big short-term risk and the lack of informed economics debate is an issue. Prior to that, Jason Furman, a senior fellow at the Peterson Institute, says economic problems have been increasing since the 1950s. Alice Rivlin, a former vice chair of the Fed, says the U.S. political system's so polarized that the country isn't getting anything done. Jacob Frenkel, chairman of JPMorgan Chase International, says geopolitics are the sources of economic uncertainty. Finally, Alan Blinder, a former vice chair of the Fed, says the U.S. isn't going back to the nominal interest rates to which investors had become accustomed.

Bloomberg Surveillance
Blinder Expects Up to Four Fed Rate Hikes This Year

Bloomberg Surveillance

Play Episode Listen Later Mar 2, 2017 44:46


Alan Blinder, former vice-chairman of the board of governors of the Federal Reserve, expects three to four rate hikes this year. Prior to that, Bill Lee, Citigroup's head of North American economics, says sentiment data aren't good predictors of real data or the economy. Jim Millstein, former chief restructuring officer at the U.S. Treasury, says the confirmation process has become uncivil and we have to change it if we want to get qualified candidates into public service. Finally, Mike Mayo, a former CLSA banking analyst, discusses the future of sell-side research and banking regulation. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Bloomberg Surveillance
Blinder Expects Up to Four Fed Rate Hikes This Year

Bloomberg Surveillance

Play Episode Listen Later Mar 2, 2017 44:01


Alan Blinder, former vice-chairman of the board of governors of the Federal Reserve, expects three to four rate hikes this year. Prior to that, Bill Lee, Citigroup's head of North American economics, says sentiment data aren't good predictors of real data or the economy. Jim Millstein, former chief restructuring officer at the U.S. Treasury, says the confirmation process has become uncivil and we have to change it if we want to get qualified candidates into public service. Finally, Mike Mayo, a former CLSA banking analyst, discusses the future of sell-side research and banking regulation.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Dr. Alan Blinder, Former FOMC Vice-Chair - Please call 1-800-388-9700 for a free review of your financial portfolio

Bloomberg Surveillance
Alan Blinder Says the Fed Isn't Dysfunctional

Bloomberg Surveillance

Play Episode Listen Later Jan 25, 2017 42:53


Alan Blinder, a professor at Princeton and former Federal Reserve official, says the Fed isn't dysfunctional, despite the Republicans' success at making the government seem that way. Prior to that, James Sweeney, chief economist at Credit Suisse Securities USA LLC, says markets don't believe that protectionism is coming. Brian Jacobsen, Wells Fargo's chief portfolio strategist, says fixed income and emerging markets represent the best investment opportunity. Finally, Alice Rivlin, the former director of the Office of Management and Budget, says we need to boost economic growth and have long-term debt on a stable path. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Bloomberg Surveillance
Alan Blinder Says the Fed Isn't Dysfunctional

Bloomberg Surveillance

Play Episode Listen Later Jan 25, 2017 42:08


Alan Blinder, a professor at Princeton and former Federal Reserve official, says the Fed isn't dysfunctional, despite the Republicans' success at making the government seem that way. Prior to that, James Sweeney, chief economist at Credit Suisse Securities USA LLC, says markets don't believe that protectionism is coming. Brian Jacobsen, Wells Fargo's chief portfolio strategist, says fixed income and emerging markets represent the best investment opportunity. Finally, Alice Rivlin, the former director of the Office of Management and Budget, says we need to boost economic growth and have long-term debt on a stable path.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Dr. Alan Blinder, Former Vice Chair of the Federal Reserve - Please call 1-800-388-9700 for a free review of your financial portfolio

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Dr. Alan Blinder, Economics Professor at Princeton University - Please call 1-800-388-9700 for a free review of your financial portfolio

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Dr. Alan Blinder, Professor of Economics at Princeton University and former Vice Chairman of the Federal Reserve, discusses the upcoming FOMC meeting, monetary policy and the economy - Please call 1-800-388-9700 for a free review of your financial portfolio

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Dr. Alan Blinder, Former Governor of the Federal Reserve - Please call 1-800-388-9700 for a free review of your financial portfolio

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Former Fed Governor, Dr. Alan Blinder discusses the FOMC meeting, monetary policy and the economy. - Please call 1-800-388-9700  for a free review of your financial portfolio.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Dr. Alan Blinder, former Vice Chairman of the Federal Reserve - Please call 1-800-388-9700 for a free review of your financial portfolio

What Wellesley's Reading
After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead

What Wellesley's Reading

Play Episode Listen Later May 8, 2013 5:33


Dan Sichel reads from After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead, by Alan Blinder, published by Penguin. "The coincidence in time of the horrible recession with multiple policy interventions gave the anti-government crowd an opening to vilify the government, which they took with devastating effect."

America's Democrats
AmericasDemocrat.org Netcast - April 28th, 2013

America's Democrats

Play Episode Listen Later Apr 28, 2013 40:39


Former Fed executive Alan Blinder says watch out for attempts to gut Dodd-Frank … Union leader Paul Booth says progressives must pay attention to 2014. And Bill Press talks with assistant Senate majority leader Dick Durbin. A leading economist says the Dodd-Frank bill is not enough reform, and the first order of business is to resist the forces trying to weaken regulation of Wall Street. A labor leader says the 2014 mid-terms are going to be just as important to Democrats as the 2012 presidential election was. And, Bill Press speaks with Dick Durbin, the assistant majority leader of the Senate. Alan Blinder Dr. Alan Blinder is a former vice chairman of the Fed. He is warning that Wall Street reforms under the Dodd-Frank bill are not enough and that Democrats need to resist continuing attempts to let the big banks run wild again. http://www.princeton.edu/~blinder/ Paul Booth In the continuing battle for human rights, the focus has shifted from the federal courts to state legislatures, and that is not necessarily a bad thing says labor leader Paul Booth http://www.afscme.com Dick Durbin Bill Press and his guest, Dick Durbin, the assistant majority leader of the Senate. http://www.durbin.senate.gov Jim Hightower George W's $250-million can of whitewash.

America's Democrats
AmericasDemocrat.org Netcast - March 17th, 2013

America's Democrats

Play Episode Listen Later Mar 16, 2013 45:40


How should bankers responsible for the financial crisis be handled? A former Fed official says throw ‘em in jail!  And … Marco Rubio … just a Romney with charisma.A former vice chairman of the Fed says while Wall Street is looking a lot better, Main Street is just slogging along. And he says a number of bankers belong in jail! The author of that Time Magazine cover story on Marco Rubio tells us the Florida senator is a strong contender for the 2016 GOP presidential nomination because he is “Romney with charisma.” And Bill Press talks with two progressive members of the House – Keith Ellison and Peter Welch – about what the Paul Ryan budget would do unto others. Alan Blinder Dr. Alan Blinder was a member of Bill Clinton’s council of economic advisers, and later, vice chairman of the Fed. That makes him an expert on the financial crisis, and he has written a book that explains why it happened. He also tells us some unnamed bankers ought to be in jail!http://www.princeton.edu/~blinder/ Michael Grunwald If you’re a Republican and think the party’s problem is that Mitt Romney was too rich and too white, but otherwise was right, then Marco Rubio is your guy. That’s the view of journalist Michael Grunwald of Time Magazine. If you ARE a Republican, by the way, welcome to the show! http://www.michaelgrunwald.com/ Keith Ellison and Peter Welch Bill Press and his his guests, Democratic Congressmen Keith Ellison and Peter Welch, on the Republican budget silliness.http://ellison.house.gov/http://www.welch.house.gov/ Jim Hightower Standing up for a senator who took a stand.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Dr. Alan Blinder, former Fed governor joins Moe to discuss the Fed and the economy - Please call 1-800-388-9700 for a free review of your financial portoflio 

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Former Fed Governor, Dr. Alan Blinder discusses reaction to the Fed meeting - Please call 1-800-388-9700 for a free review of your financial portfolio

Les chroniques économiques de Bernard Girard

Le 17/01/2012Pour écouter cette chronique                                                          Le protectionnisme devient politiquement correctEn quelques mois, le protectionnisme qui paraissait réservé aux extrêmes, au Front National et au Front de gauche, est devenu respectable. D’abord repris par des francs-tireurs des grands partis, comme Arnaud Montebourg, il est devenu mainstream avec Laurent Waucquiez au point de nourrir les projets du gouvernement. Telle qu’il en fait la promotion, la TVA sociale que nous propose Nicolas Sarkozy ne serait qu’une manière de pénaliser les produits fabriqués à l’étranger, ce qui fait sourire tous ceux qui savent combien une hausse de la TVA affecte ceux qui consacrent l’essentiel de leurs revenus à la consommation. Cet enthousiasme pour le protectionnisme est d’autant plus surprenant que les économistes lui sont, on le sait, en général très hostiles et qu’ils ne manquent pas une occasion de rappeler combien il a pu, là où il a été appliqué, ralentir ou retarder le développement économique. Ce qui n’a évidemment pas empêché les Etats de le pratiquer sous une forme ou sous une autre. Si le protectionnisme affiché a longtemps eu mauvaise presse, tous les gouvernements ont développé des techniques pour protéger leurs industries. On connaît les conflits récurrents entre Boeing et Airbus. Les deux compagnies s’accusent mutuellement d’être subventionnées qui par le ministère de la défense américain, qui par la Commission européenne. On sait également que nombreux sont ceux qui militent pour un commerce équitable, c’est-à-dire pour des sanctions contre les pays qui ne respectent pas les droits des travailleurs, qui interdisent les syndicats, emploient des enfants ou des prisonniers. Mais les nouveaux avocats du protectionnisme ne se contentent pas de ces demi-mesures, ils veulent revenir tout simplement à l’instauration de taxes douanières, aux frontières de la France pour le Front National, ce qui nous amènerait à renier traités et accords, aux frontières de l’Europe pour les autres.Idée folle ? sans doute, mais pour en avoir le cœur net, pour savoir si cela pouvait être efficace, j’ai voulu revenir aux auteurs qui ont défendu le protectionnisme. Dans la période contemporaine, ils sont relativement peu nombreux, mais on peut citer Barbara Spencer et James Brander, deux économistes canadiens, qui ont développé au début des années quatre-vingt, un modèle dans lequel un Etat peut, au contraire de ce qu’avance la théorie, subventionner une industrie locale sans pour autant réduire le bien-être de l’ensemble de la population. Le cas d’Airbus en est une bonne illustration. Une trentaine d’années plus tôt, au début des années cinquante, un autre canadien qui enseignait à la London School of Economics, Harry Johnson, avait, lui, montré que dans certains cas au moins l’instauration de droits de douane pouvait bénéficier à l’Etat qui les amorçait même si ses concurrents faisaient de même.Mais ces quelques économistes, on pourrait sans doute citer d’autres noms, sont des exceptions et leur défense du protectionnisme reste mesurée. Si l’on cherche un économiste qui s’en est vraiment fait l’avocat, il faut remonter beaucoup plus loin, au 19ème siècle, et regarder du coté de l’un des pionniers du nationalisme allemand, Friedrich List.Friedrich ListFriedrich List est aujourd’hui bien oublié. C’est, cependant, un personnage passionnant. Allemand né en 1789, mort en 1846, ayant vécu en France et aux Etats-Unis, il fut l’un des plus ardents défenseurs de l’unité allemande, l’un des pères du Zollverein, cette union douanière qui a donné naissance au 19ème siècle à l’Allemagne telle que nous la connaissons aujourd’hui en lieu et place de cette réunion de principaux, baronnies, petits royaumes qui passaient leur temps à se disputer.Ces éléments biographiques éclairent ce qui est sans doute le cœur de son principal livre, celui dans lequel il défend justement ses thèses protectionnistes : le Système National d’économie politique, livre publié en 1841, traduit en français dés 1851 et réédité il y a une dizaine d’années avec une préface d’Emmanuel Todd qui est, on le sait, un des premiers à avoir prôné le retour au protectionnisme.Friedrich List écrit son livre contre Adam Smith et Jean-Baptiste Say, les deux grands théoriciens classiques du libre-échange. Il leur reproche de traiter de l’économie comme si nous vivions dans un monde complètement ouvert où les agents économiques, les individus, les entreprises pourraient librement échanger. Or, dit-il, ce n’est pas le cas : il y a des nations. Et l’on ne peut, ajoute-t-il, en faire l’économie.Nationalisme et protectionnisme ont donc dés l’origine eu partie liée. Mais le nationalisme dont parle Friedrich List n’a pas grand chose à voir avec celui de Martine Le Pen. En témoigne l’intérêt qu’il porte aux migrations. Bien loin des  imprécations contre les immigrés chères au Front National et à ses émules à la Guéant, il reconnaît les Etats puissants et les économies solides à ce qu’ils savent attirer les étrangers. Bien loin de recommander une endogamie généralisée, il explique que rien ne vaut la mixité et la diversité dans un passage qui a du faire se lever quelques sourcils chez ses premiers lecteurs et qui ferait tiquer bien des électeurs du Front National : « on ne peut nier, écrit-il, que du mélange de deux races diverses, il résulte à peu près sans exception, une postérité robuste et belle. » Une vision industrialisteList s’intéresse surtout à l’industrie. Il est un fervent industrialiste et s’il est favorable au protectionnisme, aux barrières douanières, c’est seulement dans la mesure où elles peuvent favoriser le développement d’une base industrielle dans les pays qui ont pris du retard. Si ces pays ne veulent pas que leurs industries disparaissent sous les coups de la concurrence des pays plus avancés, il s’agissait à son époque, de la Grande-Bretagne, il faut les protéger, éviter que les produits d’une industrie plus efficace, plus avancée ne leur interdise toute croissance. Il ne propose la mise en place de mesures protectionnistes que pour protéger l’industrie dans les pays qui tentent de rattraper leur retard. Il ne préconise surtout pas l’instauration de ces taxes pour l’agriculture ou les matières premières, domaines dans lesquels la loi de l’avantage comparatif peut jouer, ce qui n’est pas le cas de l’industrie pour laquelle tous les peuples ont la même vocation « pourvu, je le cite, qu’ils possèdent les conditions matérielles, intellectuelles, politiques et sociales requises à cet effet. » Les barrières douanières n’ont d’intérêt que parce qu’elles donnent aux pays à la traîne le temps de développer ces conditions. Une fois ces conditions atteintes, elles doivent disparaître.Cette thèse qui veut que la meilleure politique ait été de laisser libre le commerce de produits agricole et d’introduire des taxes sur les produits industriels semble avoir été politiquement juste si l’on en juge par les travaux récents d’historiens de l’économie qui se sont intéressés au développement au 19èmesiècle (Lehman, O’Rourk, The structure of protection and growth in the late 19th century). Sans doute pourrait-on aujourd’hui dire la même chose des pays émergents.En fait, List paraît avoir été un des pionniers de l’économie du développement et l’inspirateur, au moins indirect, des grands nationalistes du lendemain de la seconde guerre mondiale, de Nehru et de tous ceux qui ont alors guidé les Etats nouveaux dans leurs premiers pas vers l’industrialisation.  On est évidemment très loin des préoccupations contemporaines des pays industrialisés. Il ne s’agit pas de défendre des industries vieillissantes, comme c’est le cas chez nous, mais au contraire, de protéger des industries naissantes qui n’ont pas encore eu le temps d’acquérir toutes les compétences et savoir-faire nécessaires pour être compétitif. A aucun moment dans un livre de près de 600 pages, il ne met en avant les différences de salaires. Bien au contraire, il souligne que des salaires élevés vont avec une plus grande productivité. S’il convient, nous dit-il, de protéger les industries naissantes, c’est qu’il leur faut du temps pour développer les capacités intellectuelles, on dirait aujourd’hui le capital humain, sans lequel on ne peut résister à la concurrence.Le premier hétérodoxeJe le disais à l’instant, les motifs que List avance pour justifier le protectionnisme paraissent bien loin de nos préoccupations de pays développés et, à l’inverse d’Emanuel Todd, je doute qu’un de nos néo-protectionnistes puisse y trouver inspiration. Sa pensée mérite cependant qu’on s’y attarde, ne serait-ce que parce qu’il est probablement le premier économiste hétérodoxe. Le premier à s’en prendre de manière systématique et frontale à la pensée libérale classique, ce qui lui vaudra d’ailleurs une véritable racléede la part de Karl Marx qui admirait plus que tout autre les classiques. La première cible de List est donc, dans son livre, ce qu’il appelle l’Ecole, Adam Smith et Jean-Baptiste Say. Il leur reproche de négliger l’histoire, de concevoir l’économie comme un jeu entre individus détachés de toutes contraintes sociales, de négliger l’Etat et sa capacité à intervenir dans le monde économique. Plusieurs passages de son livre semblent comme une anticipation des politiques industrielles. Il est également sans doute le premier à souligner combien la pensée libérale classique, celle d’Adam Smith, peut être utilisée à des fins politiques, un thème qu’Attac et bien d’autres ont mille fois exploité. Il est également l’un des premiers à penser l’articulation entre l’union douanière et la création d’un Etat, d’une nation, ce qu’il fait à propos de l’Allemagne. Sa lecture nous aide, d’ailleurs, à mieux comprendre certaines réactions récentes des Allemands qui se trouvent aujourd’hui dans la situation de la Grande-Bretagne du 19ème siècle. Economie dominante dont les entreprises sont particulièrement performantes, l’Allemagne n’a aucun intérêt au protectionnisme, ce qui rend dérisoire les projets de tous ceux qui souhaitent établir des barrières douanières aux frontières de l’Europe. Cela ne pourrait se faire sans l’accord des Allemands et ceux-ci le refuseront aussi longtemps que leur commerce extérieur sera excédentaire.  L’illusion protectionniste : l’exemple de l’industrie automobile américaineS’il est un enseignement à tirer de la lecture de List, c’est bien de ne pas se fier seulement à la théorie, mais de retourner au réel et d’analyser des situations historiques concrètes. Or, celles-ci n’incitent pas à pencher pour le protectionnisme. L’industrie automobile américaine en offre un bel exemple. On sait qu’elle s’est trouvée confrontée, au début des années 80, à la concurrence très vive des constructeurs japonais. Profitant des tentations protectionnistes du congrès américain – la part des produits importés soumis à tarifs douaniers est passée de 8% en 1975 à 21% en 1984 -, l’industrie automobile a obtenu la mise en place de quotas à l’importation de véhicules japonais. La mesure a immédiatement profité à Detroit, grand centre de l’industrie automobile américaine. Libérés de la concurrence des Toyota et autres Honda, GM , Ford, Chrysler ont créé des dizaines de milliers d’emplois, leurs bénéfices ont explosé, ils ont d’autant plus explosé que profitant de la hausse des prix des automobiles japonaises, ils ont pu augmenter ceux de leurs véhicules de manière significative (Alan Blinder, Hard heads, tough heads, 1998). Des résultats positifs, donc, mais… très éphémères. Les Japonais ont immédiatement réagi en construisant des usines en Amérique du Nord, d’abord au Canada puis dans les Etats du Sud à la main d’œuvre meilleur marché. Ils sont venus avec leurs méthodes de travail plus efficaces, leurs modèles plus performants et ont rapidement écrasé de leur supériorité des constructeurs que la protection artificielle des quotas avait anesthésiés. On sait dans quelle situation sont aujourd’hui General Motors, Ford ou Chrysler. Les emplois perdus à Detroit n’ont jamais été retrouvés. Flint, la ville où est née la General Motors, cette ville que Michael Moore a rendu célèbre avec son film Roger et moi, a toujours un taux de chômage qui frôle les 9%. Buick City, l’énorme complexe industriel au nord-ouest de la ville peut aujourd’hui se vanter d’être la plus grande friche industrielle des Etats-Unis.On peut imaginer, sans beaucoup d’efforts, que si demain l’Europe mettait des barrières douanières à ses frontières, les entreprises chinoises ou celles qui fabriquent en Chine trouveraient vite le chemin de la Roumanie, de la Bulgarie, de la Slovaquie, de tous ces pays d’Europe dont les salaires sont faibles. Qu’y aurions nous gagné ? Peut-être une rémission de quelques mois pour les entreprises les plus menacées. Guère plus. On pourrait même y perdre. On a calculé que les mesures prises pour lutter contre les constructeurs automobiles japonais ont rapporté 8 milliards de dollars aux entreprises américaines et coûté aux Etats-Unis 13 milliards. Solde négatif : 5 milliards. Et encore n’est-ce que peu de chose comparé aux 750 000$ qu’ont coûté chaque emploi sauvé dans la sidérurgie américaine grâce aux mesures protectionnistes prises à la fin des années 70. (Robert Crandall, The effects of  US trade protection for autos and steel).Le protectionnisme est un peu comme cette piqure de vitamines qu'un médecin pourrait faire à un malade atteint d'un cancer. Cela le soulagerait pendant quelques instants mais ne le soignerait certainement pas.Un contexte politique peu favorable au protectionnismeLe protectionnisme n’est donc pas la solution. Risque-t-il malgré tout de s’imposer comme dans les années trente ? c’est peu probable. Le contexte, les rapports de force ont changé. Pour que le protectionnisme s’impose, il faut que ceux qui y ont intérêt, salariés menacés de perdre leur emploi, entreprises en difficulté aient la capacité d’imposer leurs vues. C’était le cas de l’industrie automobile, de la sidérurgie aux Etats-Unis au début des années quatre-vingt. Aucun secteur n’a aujourd’hui en France ce pouvoir. Ou, plutôt, aucun n’est assez puissant pour s’imposer face à tous ceux qui ont tout à craindre du protectionnisme. Car, s’il est vrai, que beaucoup sont menacés par la concurrence des pays émergents, au moins autant seraient pénalisés par des politiques protectionnistes qui rendraient plus difficile la vente des produits qu’ils fabriquent. Les entreprises dont une partie importante du chiffre d’affaires se fait à l’exportation, celles qui intègrent des produits importés dans leurs fabrications, leurs patrons et leurs salariés seraient les premiers à s’opposer à des mesures qui, sous couvert de protéger des gens en difficulté, gêneraient les secteurs les plus compétitifs.La tentation protectionniste existe donc bien, elle nourrit les discours des politiques, mais elle ne restera que cela tant que les règles européennes, les intérêts de l’Allemagne, ceux de tous ceux qui travaillent dans des industries qui vivent de l’exportation ou, ce qui revient au même, de la vente de produits qui intègrent des composants fabriqués à l’étranger, s’y opposent.Ce n’est pas la théorie qui s’oppose au protectionnisme mais, plus simple, le principe de réalité.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

- Alan Blinder, Professor of Economics at Princeton University - Please call 1-800-388-9700 to have your portfolio reviewed.

Market Wrap with Moe - Business Financial Analysis on Investing, Stocks, Bonds, Personal Finance and Retirement Planning

Alan Blinder, Economics Professor at Princeton University and Former Fed Governor-Lax lending standards and the unwillingness of the regulators to crack down were the perfect ingredients to a housing bubble