Podcasts about economic complexity

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Best podcasts about economic complexity

Latest podcast episodes about economic complexity

PolicyCast
Ricardo Hausmann on the rise of industrial policy, green growth, and Trump's tariffs

PolicyCast

Play Episode Listen Later Mar 5, 2025 58:39


For market purists, any mention of the term industrial policy used to evoke visions of heavy-handed Soviet-style central planning, or the stifling state-centric protectionism employed by Latin American countries in the late 20th century. But that conversation turned dramatically over the last several years, as President Joe Biden's signature legislative achievements like the CHIPS and Science Act and the Inflation Reduction Act showcased policies designed to influence and shape industries ranging from tech to pharma to green energy. My guest today, Harvard Kennedy School Professor Ricardo Hausmann, is the founder and director of the Growth Lab, which studies ways to unlock economic growth and collaborates with policymakers to promote inclusive prosperity around the world. Hausmann says he believes markets are useful, but have shown themselves inadequate to create public benefits at a time when public objectives like the clean energy transition and shared prosperity have become increasingly essential to human society. In a wide-ranging conversation, we'll discuss why industrial policy is making a comeback, tools that the Growth Lab has developed to help poorer countries and regions develop and prosper, and the uncertainty being caused by President Trump's pledge to raise tariffs and protectionist barriers.Ricardo Hausmann's policy recommendations:Encourage governments to track industries that are not yet developed but have the potential for growth and monitor technological advancements to identify how new technologies can impact existing industries or create new opportunities.Develop state organizations with a deep understanding of societal trends and industrial potential, similar to Israel's office of the Chief Scientist or the U.S. Presidential Commission on Science and Technology.Encourage governments to develop a pre-approved set of tools—including training, educational programs, research programs, and infrastructure—that can be quickly mobilized for specific economic opportunities.Teach policy design in a way that mirrors medical education (e.g., learning by doing as in a teaching hospital), because successful policy design requires real-world experience, not just theoretical knowledge. Ricardo Hausmann is the founder and director of Harvard's Growth Lab and the Rafik Hariri Professor of the Practice of International Political Economy at Harvard Kennedy School. Under his leadership, the Growth Lab has grown into one of the most well regarded and influential hubs for research on economic growth and development around the world. His scholarly contributions include the development of the Growth Diagnostics and Economic Complexity methodologies, as well as several widely used economic concepts. Since launching the Growth Lab in 2006, Hausmann has served as principal investigator for more than 50 research initiatives in nearly 30 countries, including the US, informing development policy, growth strategies and diversification agendas at the national, regional, and city levels. Before joining Harvard University, he served as the first chief economist of the Inter-American Development Bank (1994-2000), where he created the Research Department. He has served as minister of planning of Venezuela (1992-1993) and as a member of the Board of the Central Bank of Venezuela. He also served as chair of the IMF-World Bank Development Committee. He holds a Ph.D. in economics from Cornell University.Ralph Ranalli of the HKS Office of Communications and Public Affairs is the host, producer, and editor of HKS PolicyCast. A former journalist, public television producer, and entrepreneur, he holds an BA in political science from UCLA and a master's in journalism from Columbia University.Scheduling and logistical support for PolicyCast is provided by Lillian Wainaina. Design and graphics support is provided by Laura King of the OCPA Design Team. Web design and social media promotion support is provided by Catherine Santrock and Natalie Montaner of the OCPA Digital Team. Editorial support is provided by Nora Delaney and Robert O'Neill of the OCPA Editorial Team. 

Simplifying Complexity
What is your country good at?

Simplifying Complexity

Play Episode Listen Later Mar 3, 2025 50:54


Ricardo Hausmann is the Founder and Director of Harvard’s Growth Lab and the Rafik Hariri Professor of the Practice of International Political Economy at Harvard Kennedy School. In this episode, Ricardo explains how the amount and diversity of knowledge within an economy shapes its current capabilities and influences a country’s possible economic growth. Resources and links: The Atlas of Economic Complexity website Connect: Simplifying Complexity on Twitter Sean Brady on Twitter Sean Brady on LinkedIn Brady Heywood website This show is produced in collaboration with Wavelength Creative. Visit wavelengthcreative.com for more information.

Crazy Wisdom
Episode #421: Argentina Unfiltered: Chaos, Crypto, and Creative Survival

Crazy Wisdom

Play Episode Listen Later Dec 27, 2024 69:49


In this episode of the Crazy Wisdom Podcast, Stewart Alsop talks with guest Saila about Argentina's fascinating socio-economic dynamics, its chaotic history, and potential future under the current government. Topics range from Argentina's unique financial practices—like the "blue dollar" system and the impact of inflation on everyday life—to global geopolitical shifts, the role of bureaucracy, and the rise of multipolarity. They also explore the opportunities and challenges for crypto and fintech in Argentina, drawing connections to innovation spurred by economic adversity. Check out Saila on Twitter at @sailaunderscore for more insights.Check out this GPT we trained on the conversation!Timestamps00:00 Introduction and Welcome00:13 Argentina's Economic Situation00:56 Understanding the Blue Rate03:20 Psychological Impact of Inflation07:17 Global Political Dynamics14:30 AI and Human Perception21:23 Bureaucracy and Governance28:20 Historical Context and Future Predictions37:36 The Birth of ARPA and NASA38:21 Crazy Ideas and Vietnam39:11 The Internet's Origin and Tech's Evolution39:46 The Political Silence of Tech Giants40:58 The Dark Matter of Eligibility41:30 Navigating the Tech and Finance Worlds48:37 The Reality of Crypto in Argentina58:36 Argentina's Unique Financial Landscape01:07:20 Conclusion and Final ThoughtsKey InsightsArgentina's Economic Complexity and the Blue Dollar: Argentina's economic system is uniquely chaotic, characterized by a dual exchange rate system with the "blue dollar" or parallel exchange rate operating alongside the official rate. This system reflects a deeply ingrained culture of financial adaptation and innovation, where residents navigate inflation and economic instability with remarkable dexterity. The resilience and pragmatism of Argentines in the face of such challenges have made their everyday understanding of economics highly nuanced and practical.The Global Perception of Argentina Under Javier Milei: Under the leadership of Javier Milei, Argentina is at a critical juncture, attempting to shift from decades of economic chaos to potential stabilization. Despite initial skepticism, Milei's administration has managed to maintain a credible fiscal policy, such as adhering to a zero primary deficit. This success challenges both local and global expectations, showcasing how Argentina's political narrative can surprise even seasoned economists.The Global Shift from Unipolarity to Multipolarity: The conversation reflects on the decline of the unipolar world order dominated by the United States and the rise of a more fragmented multipolar reality. With China as a prominent actor but inexperienced in global leadership, the dynamics of international power are evolving. The U.S. faces a choice between deliberate withdrawal from global dominance or grappling with a loss of influence—a process that holds implications for countries like Argentina operating on the periphery.The Power of Illegibility in Systems and Markets: Saila introduces the concept of "illegibility," where the real value in systems often lies in aspects that are not immediately visible or measurable. This is particularly true in environments like Argentina, where formal systems often fail, and informal networks and practices flourish. The same holds in global markets and innovation hubs, where the most significant opportunities often emerge from navigating the unspoken or unseen rules.The Role of Crypto in Argentina's Financial Landscape: Argentina has become a critical testbed for cryptocurrency applications due to its economic instability and limited access to traditional credit markets. Stablecoins, in particular, have found real-world use cases as tools for saving and transacting in a volatile economy. This positions Argentina as an unlikely but important center for crypto innovation, driven by necessity rather than speculation.Innovation Through Constraint: Economic adversity in Argentina has sparked remarkable creativity and ingenuity among its population. From unique financial practices like partial cash housing transactions to unconventional uses of stablecoins, the constraints of the system have fostered innovation. This serves as a case study in how challenging environments can generate solutions with broader applicability, even in more stable economies.Bureaucracy as an Autonomous Agent: The conversation draws parallels between bureaucratic systems in Argentina and those in developed nations like the U.S., highlighting how they often evolve into semi-autonomous entities prioritizing their survival. Argentina's overgrown bureaucracy has contributed to inefficiency and economic decline, yet similar patterns of self-preservation and stagnation are visible in Western governments and institutions as well.

Climate Risk Podcast
Modelling Economic Complexity: Insights for Risk Professionals

Climate Risk Podcast

Play Episode Listen Later Dec 19, 2024 40:50


Hear from Prof. J. Doyne Farmer, Professor of Complex Systems Science at the University of Oxford, as we explore new modelling approaches designed to better capture the complex and chaotic nature of our climate and economy. We spend a lot of time on this podcast covering the transition to a low carbon economy, which will be driven largely by policies and technological innovation. These policies tend to be based on insights from economics. And our view on the pace of innovation is often informed by expert judgement. But traditional economic models often oversimplify the world, leading to poor policy design. And we tend to underestimate the exponential rate of technological change, making us unduly pessimistic about the transition.  Today's guest has thought a great deal about both these issues. That's why in today's episode we'll be diving into the world of complexity economics and agent-based modelling, which can help us better navigate the risks and opportunities associated with the transition. We'll discuss: How agent-based models are very well suited to modelling complex, non-linear systems, such as the economy; How past innovation cycles can provide invaluable insights on what we might expect to see in the transition; and What the models tell us about the appropriate speed of the transition to a net zero world. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP's Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com Links from today's discussion: Making Sense of Chaos: A Better Economics for a Better World: https://www.penguin.co.uk/books/284357/making-sense-of-chaos-by-farmer-j-doyne/9780241201978 Santa Fe Institute's Office of Applied Complexity: https://www.santafe.edu/applied-complexity/office GARP Climate Risk Podcast with Simon Sharpe: https://www.garp.org/podcast/five-times-faster-cr-240321 GARP Climate Risk Podcast with David Stainforth: https://www.garp.org/podcast/predicting-climate-future-cr-241128 Speaker's Bio(s) Prof. J. Doyne Farmer, Professor of Complex Systems Science, University of Oxford J. Doyne Farmer is Baillie Gifford Professor of Complex Systems Science at the Smith School of Enterprise and the Environment and Director of the Complexity Economics programme at the Institute for New Economic Thinking University of Oxford. He is also External Professor at the Santa Fe Institute and Chief Scientist at Macrocosm. His current research is in economics, including agent-based modelling, financial instability and technological progress. He was a founder of Prediction Company, a quantitative automated trading firm that was sold to UBS in 2006. His past research includes complex systems, dynamical systems theory, time series analysis and theoretical biology. His book, Making Sense of Chaos: A Better Economics for a Better World, was published in 2024. During the 1980s he was an Oppenheimer Fellow and the founder of the Complex Systems Group at Los Alamos National Laboratory. While a graduate student in the 1970s he built the first wearable digital computer, which was successfully used to predict the game of roulette.

Lead-Lag Live
Cem Karsan on Options Market Evolution, Global Investment Dynamics, and Navigating Economic Complexity

Lead-Lag Live

Play Episode Listen Later Nov 7, 2024 48:15 Transcription Available


What if the key to understanding asset value lay not in traditional stocks or bonds, but in the complexity of options? Join us as we sit down with seasoned trader Cem Karsan, who offers an insightful look into how options are transforming from mere derivatives to pivotal elements in market analysis. With a staggering $30 trillion in new investments forecasted to hit the market this year, Cem discusses the nuances of risk management and collateral leveraging, drawing from his extensive trading floor experience. His unique perspective shines a light on how options provide a clearer picture of asset distribution, challenging conventional wisdom.Venturing into the global emerging markets, we examine how geopolitical tensions and election-related positioning could influence market behavior, particularly in a period Cem terms as a 'window of non-strength.' The ebb and flow of market trends and the anticipated re-leveraging towards the year's end are dissected, offering a forward-looking view on investment opportunities. Despite external uncertainties, the conversation remains optimistic, analyzing the structural forces behind interest rate trends and the misconception that Federal Reserve policies have solely driven inflation. The discussion probes deeper into economic inequality, stirring thoughts on the sustainability of current economic systems.Rounding off the episode, Cem shares invaluable insights into his investment strategies and educational projects through Kai Volatility and Kai Wealth. Listeners are invited to engage with Cem via his social media handle @jam_croissant and explore his podcasting endeavors, including "Top Traders Unplugged." Whether you're curious about the future of passive investing or eager to learn from a respected voice in finance, this episode promises to broaden your understanding of today's intricate financial landscape. Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Foodies unite…with HowUdish!It's social media with a secret sauce: FOOD! The world's first network for food enthusiasts. HowUdish connects foodies across the world!Share kitchen tips and recipe hacks. Discover hidden gem food joints and street food. Find foodies like you, connect, chat and organize meet-ups!HowUdish makes it simple to connect through food anywhere in the world.So, how do YOU dish? Download HowUdish on the Apple App Store today:

Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas
293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas

Play Episode Listen Later Oct 21, 2024 71:17


A large economy is one of the best examples we have of complex dynamics. There are multiple components arranged in complicated overlapping hierarchies, out-of-equilibrium dynamics, nonlinear coupling and feedback between different levels, and ubiquitous unpredictable and chaotic behavior. Nevertheless, many economic models are based on relatively simple equilibrium principles. Doyne Farmer is among a group who think that economists need to start taking the tools of complexity theory seriously, as he argues in his recent book Making Sense of Chaos: A Better Economics for a Better World.Support Mindscape on Patreon.Blog post with transcript: https://www.preposterousuniverse.com/podcast/2024/10/21/293-doyne-farmer-on-chaos-crashes-and-economic-complexity/J. Doyne Farmer received his Ph.D. in physics from the University of California, Santa Cruz. He is currently Director of the Complexity Economics program and Baillie Gifford Professor of Complex Systems Science at the University of Oxford, External Professor at the Santa Fe Institute, and Chief Scientist at Macrocosm. He was the founder of the Complex Systems Group in the Theoretical Division at Los Alamos National Laboratory, and co-founder of The Prediction Company.Web siteOxford web pageGoogle Scholar publicationsAmazon author pageWikipediaSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Crazy Town
Escaping Globalism: Rebuilding the Local Economy One Pig Thyroid at a Time

Crazy Town

Play Episode Listen Later Apr 24, 2024 68:09 Transcription Available


From the top of a skyscraper in Dubai, Jason, Rob, and Asher chug margaritas made from the purest Greenland glacier ice as they cover the "merits" of globalism. International trade brings so many things, like murder hornets, piles of plastic tchotchkes, and deadly supply chain disruptions. The opposite of globalism is localism -- learn how to build a secure local economy that can keep Asher alive, hopefully at least through the end of the season.Warning: This podcast occasionally uses spicy language.Sources/Links/Notes:Guardian article about shipping Greenland glacier ice to DubaiWired article that tells the story of the Ever Given and all the supply chain problems that ensuedThe Observatory of Economic Complexity compiles statistics on global economic activity with interesting graphics, including this profile of China's trade.Michael Carolan's book Cheaponomics: The High Cost of Low Prices, and his follow-up book The Real Cost of Cheap FoodVasilis Kostakis's article on cosmolocalismVicki Robin's book Blessing the Hands that Feed UsWebsite for FibershedMolly Scott Cato's book The Bioregional Economy: Land, Liberty, and the Pursuit of HappinessSupport the Show.

Side Hustle City
From Bretton Woods to Crypto Trends and Today's Economic Complexity with Addison Wiggin

Side Hustle City

Play Episode Play 30 sec Highlight Listen Later Dec 28, 2023 48:48 Transcription Available


https://www.linkedin.com/in/addisonwiggin/644644Join us as we sit down with Addison Wiggin, the esteemed economist whose expertise spans over three decades, offering a wealth of understanding about the US dollar's journey as a fiat currency. Addison, the mind behind riveting titles like "The Demise of the Dollar," unravels the tangled web of our economy, from Bretton Woods to the pandemic upheaval.We're not just talking numbers here; we're exploring the very fabric of financial history and deciphering the Fed's critical decisions that have sent shockwaves through our pockets and policies. Cryptocurrencies, too, enter the fray as we ponder their place in this economic saga, drawing lines between past fiscal fables and today's tales of digital currency.Expect an enlightening narrative about the high-risk game of low-interest rates and its influence on the investment tableau, especially among the daring, tech-embracing youth. We hear the cautionary tale of a renovation foreman, swayed by his son's digital dreams, whose venture into cryptocurrencies embodies the era's speculative spirit. The episode doesn't stop there; it scrutinizes the domino effect on banks, behemoths like Amazon and Apple, and the sobering reality check served up by Silicon Valley Bank's downfall. We're peeling back the layers of what it means for tech companies and financial institutions as they navigate the end of cheap capital's heyday.Our conversation doesn't shy away from the looming specters of debt and inflation as we dissect their distortion dance, luring consumers into a precarious financial tango. We cast a critical eye on the warning signs that litter the economic landscape, with companies like Kroger fighting to hold down the fort on prices. The discussion travels through the socio-economic terrain shaped by trade wars, dwindling personal savings, and the resurgence of union movements. As we traverse this complex terrain, we confront the ripples of these trends across the nation, especially in the charged climate of an election year, and reflect on the intricate dance of manufacturing, trade, and the overarching narrative of an economy in flux.As you're inspired to embark on your side hustle journey after listening to this episode, you might wonder where to start or how to make your vision a reality. That's where our trusted partner, Reversed Out Creative comes in.With a team of experienced professionals and a track record of helping clients achieve their dreams, they are ready to assist you in reaching your goals. To find out more, visit www.reversedout.com. We also recently launched our YouTube Channel, Marketing Pro Trends.Buzzsprout - Let's get your podcast launched! Start for FREEDisclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.Support the showSubscribe to Side Hustle City and join our Community on Facebook

Breaking Battlegrounds
Global Insights with Ambassador Carla Sands and Legal Perspectives from Attorney General Austin Knudsen

Breaking Battlegrounds

Play Episode Listen Later Nov 11, 2023 67:00


In this week's episode of Breaking Battlegrounds, we're honored to host Carla Sands, former U.S. Ambassador to the Kingdom of Denmark and current Vice Chair at the America First Policy Institute. She brings unparalleled insights into pressing global issues, including ambassadors' advocacy for Israel and the dynamic role of ambassadors in conflicts similar to those in Israel and Ukraine. Join us for a comprehensive discussion on the risks associated with Biden's energy plan, featuring facts and figures that shed light on it all. Later in the show, we welcome back Attorney General Austin Knudsen, addressing his recent reelection bid for Attorney General, the constitutional implications of Hawaii's gun ban, and the support for a mother suing a school district for hiding her child's gender transition. Wrapping up, we have a special podcast feature with labor law and policy expert Vinnie Vernuccio, exploring deceptive salting loopholes in unions and their impact on the workforce. Plus, don't miss Kiley's Corner, where Kiley provides updates on the Idaho 4 murder case and reports on the suspicions surrounding the suicides of four Los Angeles Sheriff Department deputies within a 24-hour span on Monday. It's a power-packed episode you won't want to miss!-Connect with us:www.breakingbattlegrounds.voteTwitter: www.twitter.com/Breaking_BattleFacebook: www.facebook.com/breakingbattlegroundsInstagram: www.instagram.com/breakingbattlegroundsLinkedIn: www.linkedin.com/company/breakingbattlegrounds-About our guestsAmbassador Carla Sands is currently the Vice Chair, the Center for Energy & Environment, America First Policy Institute, and also leads AFPI's Pennsylvania Chapter. She previously served as U.S. Ambassador to the Kingdom of Denmark which includes Greenland, and the Faroe Islands from 2017-2021.During her tenure, she and her team increased U.S. exports to Denmark by 45% according to MIT's Observatory of Economic Complexity.  Her number one goal as ambassador was to increase U.S. national security by establishing a consulate in Greenland. By working with the inter-agency and Congress, her goal was realized in 2020.Additionally, she successfully executed trade and cooperation agreements with Greenland and the Faroe Islands to counter Russian and Chinese malign influence. In 2021 she was awarded the Department of Defense's highest civilian honor, the Medal for Distinguished Public Service.In 2015-2017 Carla served as Chairman of Vintage Capital Group and its subsidiary company Vintage Real Estate which specialized in the acquisition and development of regional malls and shopping centers across the country.Before an orderly wind-down of the company starting in 2018, Vintage Real Estate had a portfolio that included 13 properties with 4.3 million square feet invested in underperforming assets. The team was vertically integrated with in-house leasing, development, and property management.Early brief careers included film acting and practice as a 3rd generation Doctor of Chiropractic. Carla pursued her undergraduate education at Indiana University of Pennsylvania, and Elizabethtown College where she studied pre-med and earned her Doctor of Chiropractic from Life Chiropractic College.Carla is currently a board member of the Parliamentary Intelligence-Security Forum and serves on the advisory boards of Krach Institute for Tech Diplomacy at Purdue, and the International Women's Forum. She has served on many charitable and philanthropic boards.-Attorney General Austin Knudsen grew up on his family farm and ranch just outside of Bainville (in the far northeast corner of Montana) where they grew wheat, sugar beets and raised angus cattle. Austin was a 4-H kid, raising steers to show at the fair, and volunteering at community events. He participated in Future Farmers of America (FFA) throughout high school. In fact, Austin met his wife, Christie, while they both served as FFA State Officers during their freshman year of college at Montana State University-Bozeman.Austin put himself through college in Bozeman working jobs at the local butcher shop and a hardware store, and each summer he returned to work on the farm and ranch. Austin and Christie were married shortly after graduation and moved to Missoula where Austin earned his law degree from the University of Montana. Their oldest daughter Leah was born in between Austin's first and second years of law school and they were later blessed with a son, Connor, and their youngest daughter, Reagan.After law school, Austin and Christie moved their family back to the farm and ranch where they knew they could instill in their children strong Montana values. Austin worked at a law firm in Plentywood before opening his own practice in Culbertson.In 2010, Austin was elected to serve as the Representative for House District 34, defeating a two-term incumbent Democrat in what was one of the most expensive State House races in Montana history. Having quickly noticed the extent of the disconnect between Helena bureaucrats and political insiders and the rest of the people across Montana, Austin took on leadership roles within his caucus and was elected Speaker Pro Tempore (deputy Speaker) in just his second session of service.-F. Vincent Vernuccio, president and co-founder of Institute for the American Worker, brings over 15 years of expertise in labor law and policy. Vernuccio holds advisory positions with several organizations, including senior fellow with the Mackinac Center. Vernuccio served on the U.S. Department of Labor transition team for the Trump Administration and as a member of the Federal Service Impasses Panel. Under former President George W. Bush, he served as special assistant secretary for administration and management in the Department of Labor. He has advised state and federal lawmakers and their staff on a multitude of labor-related issues, and testified before the United States House of Representatives Subcommittee on Federal Workforce, Postal Service and Labor Policy. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit breakingbattlegrounds.substack.com

Make Me Smart
Nvidia is riding the AI wave

Make Me Smart

Play Episode Listen Later Aug 23, 2023 14:42


The computer chipmaker Nvidia doubled its revenue from a year ago due to a surge in demand for special chips used to run AI systems like ChatGPT. We’ll get into the geopolitical backdrop of the current chip boom. And, half of today’s homebuyers are first-time purchasers despite a historically unaffordable housing market. We’ll unpack that paradox. Plus, have you played Tradle yet? Here’s everything we talked about today: “Nvidia Revenue Doubles on Demand for A.I. Chips, and Could Go Higher” from The New York Times “Can I Afford a House: Higher Mortgage Rates Have Not Deterred Some Buyers” from Bloomberg “The Housing Market Has Never Been This Unaffordable for New Buyers” from Business Insider “Home-builder ETFs jump after data show new-home sales rose in July despite high mortgage rates” from MarketWatch “Ford Confronts Strange, Ear-Piercing Static in F-150 Trucks” from The Wall Street Journal Play the Observatory of Economic Complexity’s Tradle game Got a question for the hosts? Leave us a voicemail at 508-U-B-SMART or email us at makemesmart@marketplace.org.

Marketplace All-in-One
Nvidia is riding the AI wave

Marketplace All-in-One

Play Episode Listen Later Aug 23, 2023 14:42


The computer chipmaker Nvidia doubled its revenue from a year ago due to a surge in demand for special chips used to run AI systems like ChatGPT. We’ll get into the geopolitical backdrop of the current chip boom. And, half of today’s homebuyers are first-time purchasers despite a historically unaffordable housing market. We’ll unpack that paradox. Plus, have you played Tradle yet? Here’s everything we talked about today: “Nvidia Revenue Doubles on Demand for A.I. Chips, and Could Go Higher” from The New York Times “Can I Afford a House: Higher Mortgage Rates Have Not Deterred Some Buyers” from Bloomberg “The Housing Market Has Never Been This Unaffordable for New Buyers” from Business Insider “Home-builder ETFs jump after data show new-home sales rose in July despite high mortgage rates” from MarketWatch “Ford Confronts Strange, Ear-Piercing Static in F-150 Trucks” from The Wall Street Journal Play the Observatory of Economic Complexity’s Tradle game Got a question for the hosts? Leave us a voicemail at 508-U-B-SMART or email us at makemesmart@marketplace.org.

Odd Lots
How Economic Complexity Explains Which Countries Become Rich

Odd Lots

Play Episode Listen Later Aug 14, 2023 51:16 Transcription Available


Why do some countries become rich while others stagnate? And can you predict which countries become wealthy in advance of them actually increasing their collective GDP? The answer may lie in the complexity of each nation's domestic economy. On this episode we speak with Ricardo Hausmann, a professor and director of the Growth Lab at Harvard University. He helps us understand what economic complexity is, how it's measured, and the process by which countries can move from being less complex to more complex over time.See omnystudio.com/listener for privacy information.

Boundaryless Conversations Podcast
S04 Ep. 13. Joni Baboci - Cities in Flux: from Bureaucratic control to Participatory Ecosystems

Boundaryless Conversations Podcast

Play Episode Listen Later Apr 3, 2023 53:56


In this podcast, we dive into the shift towards a more decentralized and organic approach to city planning with Joni Baboci, an architect, planner, and urban enthusiast. We discuss how the modernist paradigm of deconstructing everything into individual parts and putting them back together linearly is becoming less relevant. Instead, we see a shift towards a more organic, bottom-up approach that looks at the city as a complex and multi-layered system. Joni Baboci is the founder of Layer, a spatial orchestration platform that empowers teams to govern through tactics and patterns while leveraging machine learning and artificial intelligence. He has previously served as the General Director of Planning and Urban Development for the City of Tirana and the director of Atelier Albania, a structure of the Albanian government dealing with national and regional strategic planning. Joni has executed planning, design & development projects at different scales at the national, regional and local levels. Joni shares his insights on how technological advancements such as AI and blockchain are enabling bottom-up processes in planning and thinking about cities. We also delve into the challenges of making these ideas practical and building a process of making them a reality. Joni highlights the importance of reinventing physical production through local value loops, and incentivizing the interconnection between urban and rural scapes. We also discuss how DAOs and blockchain technology can improve local governance and participation, and how cities can invest in citizen-based entrepreneurship that let them decide how to perform a job or access a service rather than relying on a top-down approach. Join us as we explore the potential of a more decentralized and organic approach to city planning with Joni Baboci. Remember that you can always find transcripts and key highlights of the episode on our website: https://boundaryless.io/podcast/joni-baboci Key highlights 

Let's Talk Resale
The Resale Edit: What To Do With 92 Million Tonnes Of Clothing Nobody Wants

Let's Talk Resale

Play Episode Listen Later Dec 1, 2022 7:04


Ahh…so it begins. The barrage of Black Friday and Cyber Monday emails and now SMS appears to be the hallmark of the Holiday season. In the 2000s national chains such as Walmart, Target, and Best Buy found a way to take advantage of this timing as a marketing moment to kick off holiday shopping–setting record sales numbers year after year by focusing deals in small time windows or "events."But times are changing. Glossy reports “Brands are saying goodbye to Black Friday,” due to a shift in customer values. Yes, Black Friday has continued to wane from its heyday but let's not kid ourselves, the trend has more to do with shifts in the retail landscape than customer values. Black Friday is a marketing event that no longer holds the value it once did for retailers. What has changed is the growth in e-commerce and constant access to deals, making this once-limited event, less effective as a marketing event. Make no mistake, we are shopping MORE every year, regardless of changing values. 92 million tonnes of textile waste are produced globally every year, according to Punch. But very few people think about where all these textiles go.The answer: West Africa. The majority of the US and European excess textiles and unwanted clothing is “donated” to African countries and the volume of these imports is mounting to unimaginable levels as stated in Vogue. Today, less than 12% of all fashion waste is recycled with the majority being burned and buried overseas where it is sold, out of sight out of mind. This reality is getting worse with fashion waste increasing by 50% at the end of this decade.While there are no silver bullets to eliminate the real cost of overproduction, as Impakter points out this week “people purchasing brand new items for every occasion are perpetuating this system – secondhand shopping slows this cycle.” An item sold for the second time most often replaces the sale of a newly made item, hence lessening production as nobody wants to make items that don't sell. Triple Pundit supported this trend in their coverage of Secondhand Sunday as the latest in retail holidays. In a recent Deloitte study, 48% of retail executives plan to offer resale directly to their customers. While I'm not sure if Secondhand Sunday will become the next Black Friday for retail, every brand should be looking to sell their brand items as many times as possible.So, given this, should Vestiaire ban fast fashion? This is the question Vogue raised in their article, “Should resale sites ban fast fashion? It's complicated”. On one hand, the more items we can get additional use out of the better, and on the other hand, fast fashion resale may continue to perpetuate the model. My take… good on Vestiaire for creating a 3-year sustainability strategy, good publicity, and good economics which I respect. However, their ultimate decision won't matter at all in the world of growing fast fashion–this part is just smart marketing.Where I really appreciate Vestiaire's stance is in legislation. As the sustainability crisis escalates, at some point legislation will pass some "tax" on end-of-use. Brands with resale programs will be best equipped to take advantage of this new landscape; the ones yet to address this important area will fall further behind.The So What+Brands will inevitably be asked to address production growth as part of their sustainability strategy as legislation intervenes in pervasive fashion waste.+There is a real cost of fashion and there is no farm where items go on to live a happy life.Resources:Brands are saying goodbye to Black FridayGlossyBlack Friday is falling out of fashion, based on consumer values and behavior. The discounting holiday that was once consolidated into Black Friday has grown for many brands to be an event spanning at least two weeks. The discounts themselves, therefore, tend to be less compelling. What's more, the whole idea of the holiday conflicts with the emerging conscious consumers' values.Should resale sites ban fast fashion? It's complicatedVogue BusinessVestiaire Collective bans fast fashion items from being sold on its peer-to-peer resale platform. Documenting a trip to Ghana, the Vestiarie team witnessed the magnitude of unwanted textiles and “donated” clothes consuming west Africa. The ban presented as a sustainability play to crack down on waste raises questions on how circular business models should handle pervasive fast fashion.What If Buying Used Clothes Was as Easy as Buying New?BloombergFinding exactly the type of clothing you want or need secondhand can be a slog. A new company called Beni aims to make the process easier by suggesting used items while a customer is shopping online for new ones. The goal, says Beni Co-Founder and Chief Executive Officer Sarah Pinner, is to make buying resale “as easy as buying new, so buying new isn't just the default.”Secondhand Sunday is Fashion's Latest Initiative in the Rise of ResaleTriple PunditFirst came Black Friday. Eventually Small Business Saturday, Cyber Monday and Giving Tuesday arrived. But what about the Sunday after Thanksgiving? Online marketplace Poshmark has the answer: Secondhand Sunday, a new holiday dedicated to “supporting secondhand sellers, circular fashion, and the planet.” Poshmark is calling on people to buy used instead of new on Nov. 27 and to share their finds on social media with the hashtag #SecondhandSunday. Second-hand clothes from the West pose environmental challenges in Africa – ExpertsPunchPlastic waste and oil are not the only contributors to the worrying global waste problem. Clothes are too. Several data undisputedly allude to the fact that developing countries in Africa are large importers of used clothes and face the problem of clothing waste. An international trade data organization, The Observatory of Economic Complexity, pegged Nigeria as one of the top five importers of used clothing with an annual fee of $124M. Earth.org reports that 92 million tonnes of textiles waste are produced globally, every year. This implies that a truck full of unwanted clothing ends up on landfill sites every day. As the trend of fast fashion continues, textile waste is expected to soar by 50 percent by 2030.The Pros and Cons of Vintage ShoppingImpakterVintage and consignment shops support sustainability by promoting the resale and reuse of long-lasting items instead of alternatively throwing them away. Secondhand shopping and thrifting are keys to Earth's future. We've reached the point where new production is unnecessary. Our planet is riddled with goods we don't even use. Many items are overproduced and end up in landfills as quickly as they were assembled. People purchasing brand-new items for every occasion are perpetuating this system – secondhand shopping slows this cycle.The Stretched Scope of Secondhand: Clothing and MoreImpakterThere was a time when yard sales were our main vessel of resale but luckily, technological advancements have obliterated previous limitations. The internet alone has stretched the scope of the secondhand industry. We now have the technology to sell our trash and buy another person's treasure from the comfort of our own homes. Cell phone apps, reselling websites, and social media have increased secondhand transactions and clothing isn't the only thing people are buying.LVMH Launches Curated Archive Platform HeristoriaWWDPARIS — LVMH Moët Hennessy Louis Vuitton has launched Heristoria, a platform of archival and historical pieces. The platform aims to find treasures within the company's maisons and launch special sales of unique items, each paired with experiences and services. “Heristoria reflects our passion for beautiful stories. Only a group like LVMH has the capacity to bring such a diversity of iconic heritage items under one umbrella; objects that are the ongoing expression of our maisons' know-how,” said LVMH group managing director Toni Belloni.

IEN Radio
'No One is Talking About' Latest Shortage

IEN Radio

Play Episode Listen Later Jun 13, 2022 2:13


Consumer goods continue to face supply chain issues. By now, nearly everyone has heard of the baby formula shortages. But another group of products is experiencing a significant shortage and a Time article called it the scarcity “no one's talking about.”This one involves tampons and pads. This shortage is the result of a combination of factors. CNN Business reports there have been supply constraints regarding materials that go into tampons, such as cotton, rayon, pulp and plastic. These products have been going to medical products like personal protection equipment.Even the war in Ukraine plays a role. According to The Observatory of Economic Complexity, in 2020, Russia was the world's top exporter of, which helps to grow cotton, with an export value of $7.6 billion.Then there's the drought in Texas. Drought.gov says 65% of the conditions in the Lone Star State currently qualify as a “severe drought.” According to Texas Farm Bureau, 11.4 million acres of upland cotton were harvested in the U.S. in 2019 and 5.25 million came from Texas. But unlike the toilet paper dearth, a tampon shortage creates a biological demand and women cannot simply wait around for shelves to be restocked. So, naturally, that is being taken advantage of.The Time article mentioned dozens of women on threads and forums who discussed difficulty finding tampons and added that Amazon's prices were higher than usual. Then there's the opinion of Procter & Gamble, the owner of the popular brand Tampax, pointing attention to Amy Schumer. The actress and comedian began appearing in Tampax advertisements in 2020 and according to P&G spokeswoman Cheri McMaster, “retail sales growth has exploded” and demand is up 7.7% since the campaign started. Never mind that a pandemic happened to be escalating around that time or that brands such as Playtex and o.b. from Edgewell Personal Care are also having shortage issues. Thyme Sullivan, the co-founder and CEO of TOP The Organic Project, which makes tampons in Europe, said the gender of people in charge of America and its companies might explain the shortage.Sullivan said, “We need to bring men into the conversation because in many places, they're the decision-makers and this wasn't on their radar.” TOP The Organic Project, founded by women, added there hadn't been any shortages of its products since the beginning of the pandemic. 

Global Security
The US is building a military base in the middle of the Pacific Ocean. Micronesian residents have questions.

Global Security

Play Episode Listen Later Aug 24, 2021


The United States is slated to get a new military base — this time in the middle of the Pacific Ocean. Last month, during high-level talks in Honolulu, the US Indo-Pacific Command and the Federated States of Micronesia (FSM) agreed to build a new base in the island nation, an archipelago of more than 600 islands strewn across the Western Pacific, some 3,700 miles from Hawaii. The move is seen as another component of the Biden administration's continued effort to increase its footprint in Oceania. However, details about the base, so far, are scarce, causing anxiety for some FSM citizens who are worried about disruptions to their way of life, and wary about the idea of American military expansion in the region.Related: The pandemic wiped out tourism on Pacific island nationsSam Illesugam, 41, has lots of questions about the new military base: How big? What kind of base?“All of those questions are still very much up in the air for us,” Illesugam told The World. Illesugam, who now lives and works in the US territory of Guam, still has siblings and other family back in Yap, one of the Federated States of Micronesia's four states.“Any time there is a sudden change to the land, you affect our identity as Native islanders..."Sam Illesugam, from Yap, Micronesia, currently living in Guam“Any time there is a sudden change to the land, you affect our identity as Native islanders,” he said. “This will alter the social landscape of our islands. Our islands are very, very small. Any type of changes to our lifestyle will greatly affect us.”Illesugam is also uneasy with the idea of an increased US military presence in the Pacific. Ongoing land disputes on Guam and heightened tensions with locals over the heavy US military presence on Okinawa have put him and others “on alert.”‘Part of the homeland'The US military's record in the Pacific is as checkered as it is long.From colonization of the Philippines to nuclear testing in the Marshall Islands, Washington has given locals plenty of reasons for pause.Today, US Indo-Pacific Command already has some 375,000 military and civilian personnel working across the Asian Pacific.The Federated States of Micronesia did not respond to The World's questions about how, or if, they plan to incorporate the public. But President David W. Panuelo clearly stated that the agreement he made to build the new military base was in the interest of his people.In particular, their security interests, which are guaranteed by a very special relationship with Washington.“The Freely Associated States are squarely part of the homeland, and so, we're being protected by the United States,” Panuelo told the Australian Broadcasting Corporation after his meetings in Hawaii.The Compacts of Free Association are special, bi-lateral agreements FSM, Palau and The Marshall Islands have each struck with Washington.Established in the 1980s, these agreements are renegotiated every few years, and through them, the three nations have received hundreds of millions of dollars in aid.Related: Western nations bulk up their Pacific presence to counter ChinaSatu Limaye, vice president of the East-West Center, said there's also a crucial military component to the agreements, which allows citizens to join the US military.“The most recent version of the Compact of Free Association requires the United States to defend the FSM and gives it the right to use facilities, bases, sites."Satu Limaye, vice president, East-Wester Center“The most recent version of the Compact of Free Association requires the United States to defend the FSM and gives it the right to use facilities, bases, sites,” he said.Limaye said that being legally obligated to the US military as a sole defender puts these states in a very unique position.“FSM, like other countries in the region, is straddling or managing its relations both with China and the United States, as China is increasingly active there,” he said.Preparing for China's military capabilities Beijing has had diplomatic relations with the Federated States of Micronesia for more than 30 years. So far, there's been no real reaction about their forthcoming base. The two nations engage in millions of dollars in trade annually, according to the Observatory of Economic Complexity.President Panuelo told the Australian Broadcasting Corporation that in managing his relationships with the US and China, FSM interests come first. “And so, the posturing of the United States and our country is not looking for confrontation, but rather looking at deterrence and making sure peace exists in our vast Pacific Ocean,” he said. Related: Philippine president reverses threat to void defense deal with the USStill, Washington is increasingly concerned about armed conflict with China, according to Derek Grossman, a senior defense analyst with the RAND Corporation.“They [China] have a growing range to deploy these capabilities against US interests in the Pacific. ... That's ballistic missiles, cruise missiles, bombers, surface fleets, as well as submarine assets.”Derek Grossman, senior defense analyst, RAND Corporation“They have a growing range to deploy these capabilities against US interests in the Pacific,” Grossman said. “That's ballistic missiles, cruise missiles, bombers, surface fleets, as well as submarine assets.”Over the last decade or so, China has made significant inroads into the Pacific by scaling up, not just economic involvement, but also its aid, and diplomatic and commercial activity in the region.The Compact of Free Association States have not been immune to Beijing's growing influence, according to the US-China Economic and Security Review Commission.By establishing new military sites in the Pacific, the US gains access to new locations from which to potentially engage in future armed conflict with Beijing. But the downside is that these places are much further away from the US, Grossman said.The Federated States of Micronesia, for example, is nearly 3,700 miles from Hawaii. And this, Grossman said, will likely make it more difficult for the US to project its influence on the people in the region.Freelance writer Alex J. Rhowuniong is an FSM-born US military veteran living in Guam. The Chuuk State, Micronesia native says he would like to see a military base built in FSM.He can understand the hesitation, but for a military mind, “a no-active-military-presence zone is not a safe zone at all,” he wrote in an email to The World.Rhowuniong noted that a military base in FSM would be both good for the local economy, as well as for the thousands of veterans scattered throughout the nation.“If the US military does not establish a presence on FSM now, the enemy just might during military conflict,” he said.

Growth Lab Podcast Series
Iterations of a Growth Diagnostic: The Case Study of Albania

Growth Lab Podcast Series

Play Episode Listen Later Jul 26, 2021 54:34


Listen to the first episode in this Albania series: 'A Snapshot of the Growth Lab's Research Engagement in Albania'.Learn more about the Growth Lab's research engagement with the country of Albania.

Growth Lab Podcast Series
Productive Ecosystems and the Arrow of Development

Growth Lab Podcast Series

Play Episode Listen Later Apr 2, 2021 26:17


Read the Productive Ecosystems and the arrow of development paper, published in Nature Communications.Learn more about the authors Neave O'Clery, Muhammed Yildirim, and Ricardo Hausmann.Explore the Product Space via the Atlas of Economic Complexity.

BCG Henderson Institute
Economic Complexity and Growth Forecasts - a Conversation with Luciano Pietronero

BCG Henderson Institute

Play Episode Listen Later Dec 18, 2020 24:52


Luciano Pietronero is an Italian statistical physics and full professor at the department of physics at University of Rome Sapienza. He was the founder and director of the Institute of Complex Systems of CNR from 2004 to 2014. Luciano's research activities have been on fundamental and applied problems in the areas of condensed matter theory, statistical physics, and complex systems. His most recent focus is on economic complexity. He is the author of about 400 papers in leading scientific journals, and he has been awarded the Enrico Fermi Prize, highest award of the Italian Physical Society, in 2008. In a conversation with Philipp Carlsson-Szlezak, BCG Chief Economist, Professor Pietronero discusses using the tools of physics to forecast long-term economic growth, the value and limitations of imposing the rigor of natural science on economics, and why he thinks that the study of nations' “economic complexity”, a quantification of comparative advantage, is a better predictor of long-term economic growth than existing methods. *** About the BCG Henderson Institute The BCG Henderson Institute is the Boston Consulting Group's think tank, dedicated to exploring and developing valuable new insights from business, technology, economics, and science by embracing the powerful technology of ideas. The Institute engages leaders in provocative discussion and experimentation to expand the boundaries of business theory and practice and to translate innovative ideas from within and beyond business. For more ideas and inspiration, sign up to receive BHI INSIGHTS, our monthly newsletter, and follow us on LinkedIn and Twitter.

Growth Lab Podcast Series
Emerging Cities as Independent Engines of Growth: The Case of Buenos Aires

Growth Lab Podcast Series

Play Episode Listen Later Dec 7, 2020 40:29


Read the working paper on Emerging Cities as Independent Engines of Growth: The Case of Buenos Aires: https://growthlab.cid.harvard.edu/publications/emerging-cities-independent-engines-growth-case-buenos-aires.

Harvard CID
Macroeconomic Stability and Long-Term Growth: Lessons from Jordan

Harvard CID

Play Episode Listen Later Feb 12, 2020 17:22


On this week's Speaker Series podcast, we are joined by Miguel Angel Santos, Adjunct Lecturer in Public Policy at Harvard Kennedy School of Government and Director of Applied Research at CID's Growth Lab, as well as Tim O’Brien, Senior Manager of Applied Research at CID's Growth Lab. Miguel and Tim sat down with CID Student Ambassador Valeria Mendiola to discuss their research from Jordan on Macroeconomic Stability and Long-Term Growth. ABOUT THE TALK From February 2018 through September 2019, the Growth Lab conducted an applied research project in Jordan centered on understanding and addressing the country’s macroeconomic disequilibria and identifying the most binding constraints to economic growth. The project team applied growth diagnostic and economic complexity methodologies in coordination with the Government of Jordan and developed over 40 problem-specific research deliverables to support government policymaking and implementation. The project, which was supported through a grant from the Open Society Foundations, helped to inform Jordan’s overall growth strategy under Prime Minister Omar Razzaz, improve policy direction in several areas (fiscal, labor markets, energy, investment promotion), and harmonize donor programming in Jordan (including by the IMF, World Bank, USAID, DFID and EBRD). During this event, team members will present key findings on the Jordanian economy, discuss innovations in applying growth diagnostic and economic complexity applications that emerged from the project, and reflect on challenges and lessons learned from this applied research effort. ABOUT THE SPEAKERS Miguel Angel Santos is an Adjunct Lecturer in Public Policy at Harvard Kennedy School of Government, and the Director of Applied Research at the Center for International Development (CID) at Harvard University. At CID, he has been involved in various research projects aimed at helping governments to rethink their development strategies, both at the national and sub-national levels. Since he joined CID in August 2014, he has been involved in projects at the national level in Mexico, Panama, and Venezuela, and at the sub-national level in Mexico in the states of Chiapas, Baja California, Tabasco and Campeche; and the city of Hermosillo at Sonora state. He has also performed as project manager in the projects leading to the build-up of the Mexican Atlas of Economic Complexity, and the Peruvian Atlas of Economic Complexity. Tim O’Brien joined CID in 2015 and has worked on both Growth Lab and Building State Capability projects. He is currently the Senior Manager of Applied Research at CID's Growth Lab. He has led growth diagnostic research in Albania and Sri Lanka. Tim served as a Peace Corps volunteer in Malawi from 2008-2010 and has experience working with the World Bank and in environmental engineering. Tim’s research interests center on the challenges of economic transformation and adapting to climate change in developing countries and vulnerable communities.

Pitchfork Economics with Nick Hanauer
The pitchforks are here (with Cesar Hidalgo)

Pitchfork Economics with Nick Hanauer

Play Episode Listen Later Dec 17, 2019 34:11


In nations around the world, people are protesting economic inequality and taking to the streets in political frustration. We said it here first: The pitchforks are coming. This week, Cesar Hidalgo joins Nick and Paul to discuss the unrest in Chile and explain how his political organizing app is helping protestors prioritize the policies they want government to address.  The texture piece is courtesy of Gustavo de la Piedra, a listener from Santiago, Chile. The news clips are sourced from the news station France 24. Cesar Hidalgo is a Chilean-Spanish physicist, author, and entrepreneur. He currently holds an ANITI (Artificial and Natural Intelligence Toulouse Institute) Chair at the University of Toulouse, an Honorary Professorship at the University of Manchester, and a Visiting Professorship at Harvard’s School of Engineering and Applied Sciences. From 2010 to 2019, Hidalgo led MIT’s Collective Learning group. He is known for the creation of the field of Economic Complexity, which uses disaggregate data and network methods to explain and predict economic development dynamics, for his work on the creation of data visualization and distribution systems, and for advancing ideas on the use of Artificial Intelligence in democracy.  Twitter: @cesifoti Further reading:  The pitchforks are coming... for us plutocrats: https://www.politico.com/magazine/story/2014/06/the-pitchforks-are-coming-for-us-plutocrats-108014 ‘Chile Woke Up’: Dictatorship’s Legacy of Inequality Triggers Mass Protests: https://www.nytimes.com/2019/11/03/world/americas/chile-protests.html Global protests share themes of economic anger and political hopelessness: https://www.washingtonpost.com/world/2019/10/25/global-wave-protests-share-themes-economic-anger-political-hopelessness/ Chile announces $5.5 billion economic recovery plan as protests bite: https://www.cnbc.com/2019/12/03/chile-announces-5point5-billion-economic-recovery-plan.html Learn more about your ad choices. Visit megaphone.fm/adchoices

Debunking Economics - the podcast
Economic Growth – it's complicated

Debunking Economics - the podcast

Play Episode Listen Later Dec 3, 2019 31:22


Economists predict GDP growth by looking at business investment, government and consumer spending, plus the net level of exports. In the long term, of course, growth only comes from the products and services you sell and for that the Atlas of Economic Complexity, developed by Harvard University, is a powerful tool. It demonstrates how growth comes to countries with a highly complex mix of products for export – the less complex, the less the growth potential. As Prof Steve Keen says to Phil Dobbie in this week's Debunking Economics podcast, it is the exact opposite of Ricardo's argument of Comparative Advantage. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

Debunking Economics - the podcast
178. Economic Growth – it’s complicated (preview)

Debunking Economics - the podcast

Play Episode Listen Later Dec 3, 2019 8:56


Economists predict GDP growth by looking at business investment, government and consumer spending, plus the net level of exports. In the long term, of course, growth only comes from the products and services you sell and for that the Atlas of Economic Complexity, developed by Harvard University, is a powerful tool. It demonstrates how growth comes to countries with a highly complex mix of products for export – the less complex, the less the growth potential. As Prof Steve Keen says to Phil Dobbie in this week’s Debunking Economics podcast, it is the exact opposite of Ricardo’s argument of Comparative Advantage. To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

SOAS Economics: Seminar series, public lectures and events
From the Product Space to Production: Economic Complexity and Industrial Policy, Salam/Andreoni

SOAS Economics: Seminar series, public lectures and events

Play Episode Listen Later Nov 29, 2019 57:59


Complexity is a powerful multi-disciplinary idea that combines insights from both the natural and social sciences, especially economics and economic geography, to study the dynamics of complex systems of heterogeneous agents, the multiple interactions between them, and the aggregate behaviours that emerge from those interactions. Arguably, the most prominent empirical approach to complexity is that of the Atlas of Economic Complexity, developed by Ricardo Hausmann and Cesar Hidalgo (H&H) at Harvard’s Growth Lab. The Atlas itself is a remarkable – and strikingly beautiful - online resource, which uses network theory methods to provide a snapshot of a country’s productive structure, as well as a measure of the complexity and diversity of its production and those of individual products. This ‘Product Space’ approach is rooted in the idea that ‘countries become what they produce’. It is a view of economic development as the accumulation of productive capabilities of increasing sophistication. As countries develop, they produce more and more products and those products attain higher and higher levels of complexity, embodying more and more productive knowledge. This in turn provides more capabilities to produce yet more products and so creates a virtuous circle. Countries in which more detailed policy analysis has been carried out within the last two years include Sri Lanka, Uganda, Rwanda, Panama, Algeria, Mexico and Peru. This paper contextualises H&H’s work within the recent resurgence of interest, in both academic and policy circles, in industrial policy. Comparing and contrasting the Product Space approach with other contemporary approaches to industrial policy, from authors including Justin Lin, Dani Rodrik, Joseph Stiglitz, Ha-Joon Chang and Mushtaq Khan, this paper sets out the strengths and weaknesses of conceptualising industrial development in terms of increasing economic complexity and diversity. In the technical section, the paper critiques the mathematical methods by which complexity is defined and rewrites the concept in terms of Markov chains on weighted graphs. This alternative formulation permits the application of Markov chain concepts, such as convergence to the stationary state, similarity and spectral clustering, in order to reinterpret complexity and other spectral data. These techniques are then related to economic aspects of complexity, such as production, technological change and capabilities. It is argued that the changing nature of production poses particular challenges to the ‘Product Space’ approach as well as other modes of industrial policy, and on this basis an ‘industrial ecosystems’ approach is outlined.

Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas
72 | César Hidalgo on Information in Societies, Economies, and the Universe

Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas

Play Episode Listen Later Nov 11, 2019 76:35


Maxwell's Demon is a famous thought experiment in which a mischievous imp uses knowledge of the velocities of gas molecules in a box to decrease the entropy of the gas, which could then be used to do useful work such as pushing a piston. This is a classic example of converting information (what the gas molecules are doing) into work. But of course that kind of phenomenon is much more widespread -- it happens any time a company or organization hires someone in order to take advantage of their know-how. César Hidalgo has become an expert in this relationship between information and work, both at the level of physics and how it bubbles up into economies and societies. Looking at the world through the lens of information brings new insights into how we learn things, how economies are structured, and how novel uses of data will transform how we live.Support Mindscape on Patreon.César Hidalgo received his Ph.D. in physics from the University of Notre Dame. He currently holds an ANITI Chair at the University of Toulouse, an Honorary Professorship at the University of Manchester, and a Visiting Professorship at Harvard’s School of Engineering and Applied Sciences. From 2010 to 2019, he led MIT’s Collective Learning group. He is the author of Why Information Grows and co-author of The Atlas of Economic Complexity. He is a co-founder of Datawheel, a data visualization company whose products include the Observatory of Economic Complexity.Web siteMIT web pageGoogle Scholar pageWikipediaTalk on replacing politiciansIn My Shoes (documentary film)DatawheelAmazon author pageTwitter

The Money
How diverse is our export economy?

The Money

Play Episode Listen Later Oct 31, 2019 28:36


A recent Harvard University study puts Australia at the bottom of the pile for economic complexity and yet we're one of the richest nations in the world.

Harvard CID
Introducing the Atlas of Economic Complexity's Country Profiles

Harvard CID

Play Episode Listen Later Sep 19, 2019 18:57


The creators of the Atlas of Economic Complexity - Harvard Growth Lab’s free online tool that translates economic growth research into policy actions to expand global prosperity - are proud to introduce: Country Profiles, a first-of-its-kind platform that revolutionizes how to think about economic strategy, policy, and investment opportunities for over 130 countries. Country Profiles invite users to take an interactive, step-by-step journey to analyze a country’s economic dynamics and future growth prospects, including identifying what new industries are poised to take-off. In this podcast, Annie White, Senior Product Manager for the Atlas of Economic Complexity and interviews Professor Ricardo Hausmann, Director of Harvard’s Growth Lab, about their new Country Profiles. www.atlas.cid.harvard.edu Recorded on Sept. 5th, 2019

Harvard CID
2027 Global Growth Projections

Harvard CID

Play Episode Listen Later Aug 13, 2019 14:25


In this podcast, Annie White and Tim Cheston discuss newly released Growth Lab research - 2027 Global Growth Projections. The projections of annualized growth rates to 2027 are based on the latest 2017 trade data and our newly updated measure of economic complexity, which captures the diversity and sophistication of productive capabilities embedded in a country’s exports. Uganda, Egypt, Myanmar, China, and Vietnam top the list of the fastest-growing economies to 2027, all expected to grow by at least six percent annually. Growth Lab researchers predict that countries who have diversified their production into more complex sectors, like Vietnam and China, are those that will experience the fastest growth in the coming decade. Annie White, Product Manager of the Atlas of Economic Complexity interviews Tim Cheston, Senior Manager, Applied Research at CID’s Growth Lab and a member of the team leading the Atlas of Economic Complexity. The Atlas is our online tool that can visualize a country’s total trade, track changes over time and explore growth opportunities for more than a hundred countries worldwide. Access the 2027 Growth Projections and updated Economic Complexity Rankings: www.atlas.cid.harvard.edu

Harvard CID
Jordan: The Elements of a Growth Strategy

Harvard CID

Play Episode Listen Later Apr 4, 2019 27:40


Between 1999 and 2009, Jordan experienced a huge growth acceleration, tripling its exports and increasing income per capita by 38%. Since then, its economy has been thrown off balance, impacted by a number of external shocks that include the global financial crisis, the Arab Spring, and the Syrian Civil War. For the past year, CID has been working in the country with the goal of understanding what is hindering income growth per capita and drafting a roadmap to help Jordan get back on a sustainable growth track. This week on CID’s Research Spotlight podcast, we talk to CID fellows and project managers Miguel Angel Santos and Tim O’Brien on the methodologies and findings of this research project. To read the full paper: bit.ly/2FNNBtY Interview recorded on March 18, 2019. About Miguel Angel Santos: Miguel Angel Santos is an Adjunct Lecturer in Public Policy at Harvard Kennedy School of Government, and the Director of Applied Research at the Center for International Development (CID) at Harvard University. At CID, he has been involved in various research projects aimed at helping governments to rethink their development strategies, both at the national and sub-national levels. Since he joined CID in August 2014, he has been involved in projects at the national level in Mexico, Panama, and Venezuela, and at the sub-national level in Mexico in the states of Chiapas, Baja California, Tabasco and Campeche; and the city of Hermosillo at Sonora state. He has also performed as project manager in the projects leading to the build-up of the Mexican Atlas of Economic Complexity, and the Peruvian Atlas of Economic Complexity. Before joining the field of international development, Miguel worked for ten years in corporate finance and business development in Latin America, performing as Director of Finance for the Cisneros Group of Companies (1997-2003), Head of Corporate Finance for Mercantil Servicios Financieros (2005-2007), and Business Vice-President for Sony Pictures and Entertainment Latin America (2008-2009). At that point, he decided to switch tracks and get involved in development economics. He holds two Master of Science degrees in International Finance and Trade (2011) and Economics (2012) from Universitat Pompeu Fabra, a Master in Public Administration from Harvard University (2014), and a Ph.D. in Economics at Universidad de Barcelona (2016). He was the head of the Macroeconomic Policy Team for presidential candidate Henrique Capriles Radonski in the Venezuelan elections of 2012. About Tim O’Brien: Tim O’Brien joined CID in 2015 and has worked on both Growth Lab and Building State Capability projects. He has led growth diagnostic research in Albania and Sri Lanka. Tim holds a Master in Public Administration in International Development (MPA/ID) degree from the Harvard Kennedy School and a B.S. in mechanical engineering from Northwestern University. Tim served as a Peace Corps volunteer in Malawi from 2008-2010 and has experience working with the World Bank and in environmental engineering. Tim’s research interests center on the challenges of economic transformation and adapting to climate change in developing countries and vulnerable communities.

Heise Says
Huggies Closes Down in Australia

Heise Says

Play Episode Listen Later Apr 3, 2019 18:48


Kimberly Clark is closing down their Huggies Factory in Australia

Pitchfork Economics with Nick Hanauer
Where does economic growth really come from? (with W. Brian Arthur and Cesar Hidalgo)

Pitchfork Economics with Nick Hanauer

Play Episode Listen Later Jan 15, 2019 48:21


Is economic growth all about money, trade, and GDP, or are healthy economies built on a different foundation? In this episode, economist W. Brian Arthur and MIT physicist Cesar Hidalgo explain why human knowledge, knowhow, and innovation are the best measures of rising prosperity and future economic growth. Guest Bios W. Brian Arthur: Economist credited with developing the modern approach to increasing returns, and one of the pioneers of the science of complexity. Author of three books including The Nature of Technology: What it Is and How it Evolves. External Professor at the Santa Fe Institute. Cesar Hidalgo: Physicist, writer, and entrepreneur. Associate Professor at MIT, and Director of the Collective Learning group at the MIT Media Lab. Co-founder of Datawheel, a company that specializes in digital transformation solutions for governments and large companies. Author of Why Information Grows and co-author of The Atlas of Economic Complexity. Twitter: @cesifoti Further reading: Complexity Economics: a different framework for economic thought: https://docs.google.com/viewer?url=http%3A%2F%2Ftuvalu.santafe.edu%2F~wbarthur%2FPapers%2FComp.Econ.SFI.pdf Economic Complexity: From useless to keystone: https://docs.google.com/viewer?url=https%3A%2F%2Fchidalgo.com%2Fs%2Fnphys4337.pdf Complexity Economics Shows Us Why Laissez-Faire Economics Always Fails: http://evonomics.com/complexity-economics-shows-us-that-laissez-faire-fail-nickhanauer/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Harvard CID
Fool's Gold: On the Impact of Venezuelan Devaluations in Multinational Stock Prices

Harvard CID

Play Episode Listen Later Aug 9, 2018 24:47


For over ten years, Venezuela has been plagued with a deep economic and political crisis that has also recently transpired into a humanitarian issue. In the past five years, GDP has gone down over 50% and hyperinflation is forecasted by the IMF to reach over 1,000,000% for this year, 2018. The economic downfall has also led to shortages in food, medical supplies, and other commodities nationwide. In their latest research paper: “Fool’s Gold: On the Impact of Venezuelan Devaluations in Multinational Stock Prices” Miguel Angel Santos, Dany Bahar, and Carlos Alberto Molina analyze how multinational companies with subsidiaries in Venezuela have been impacted by currency devaluations as the economic crisis worsened. Today on CID’s Research Spotlight podcast, Camila Lobo, CID Events & Outreach Manager, interviews one of the co-authors of this research paper, Miguel Angel Santos, who provides insight on the current economic crisis in Venezuela and what motivated them to delve into this research. Miguel Angel Santos is an Adjunct Lecturer in Public Policy at Harvard Kennedy School of Government, and a Senior Research Fellow at the Center for International Development (CID) at Harvard University. Read the paper: https://www.hks.harvard.edu/centers/cid/publications/fellow-graduate-student-working-papers/currency-devaluations-venezuela Interview recorded on August 2, 2018. About Miguel Angel Santos: Miguel Angel Santos is an Adjunct Lecturer in Public Policy at Harvard Kennedy School of Government, and a Senior Research Fellow at the Center for International Development (CID) at Harvard University. At CID, he has been involved in various research projects aimed at helping governments to rethink their development strategies, both at the national and sub-national levels. Since he joined CID in August 2014, he has been involved in projects at the national level in Mexico, Panama, and Venezuela, and at the sub-national level in Mexico in the states of Chiapas, Baja California, Tabasco and Campeche; and the city of Hermosillo at Sonora state. He has also performed as project manager in the projects leading to the build-up of the Mexican Atlas of Economic Complexity, and the Peruvian Atlas of Economic Complexity. Before joining the field of international development, Miguel worked for ten years in corporate finance and business development in Latin America, performing as Director of Finance for the Cisneros Group of Companies (1997-2003), Head of Corporate Finance for Mercantil Servicios Financieros (2005-2007), and Business Vice-President for Sony Pictures and Entertainment Latin America (2008-2009). At that point, he decided to switch tracks and get involved in development economics. He holds two Master of Science degrees in International Finance and Trade (2011) and Economics (2012) from Universitat Pompeu Fabra, a Master in Public Administration from Harvard University (2014), and a Ph.D. in Economics at Universidad de Barcelona (2016). He was the head of the Macroeconomic Policy Team for presidential candidate Henrique Capriles Radonski in the Venezuelan elections of 2012.

PolicyCast
201 Predicting the Future Through Know-How

PolicyCast

Play Episode Listen Later May 29, 2018 31:35


Professor Ricardo Hausmann, director of the Kennedy School’s Center for International Development, and Tim Cheston, a research fellow with the center’s Growth Lab, explain how they leveraged data from the Atlas of Economic Complexity to assess the knowhow of more than 130 countries and predict their economic growth over the next eight years. Learn more about CID's new growth predictions: http://atlas.cid.harvard.edu/rankings/growth-projections/

Harvard CID
Harvard’s Center for International Development 2026 Global Growth Projections

Harvard CID

Play Episode Listen Later May 3, 2018 16:07


CID Communications Manager, Chuck McKenney talks to CID Research Fellows Sebastian Bustons and Tim Cheston about the recently released 2026 Global Growth Projections. These projections of annualized growth rates of 2026 are based on the latest 2016 trade data and CID’s measure of Economic Complexity, which captures the diversity and sophistication of productive capabilities in a country’s exports. Get CID's 2026 Global Growth Projections: http://atlas.cid.harvard.edu/rankings/growth-projections/ Interview recorded on May 2nd, 2018.

Harvard CID
One More Resource Curse: Dutch disease and export concentration

Harvard CID

Play Episode Listen Later Apr 12, 2018 20:41


CID Student Ambassador Abeela Latif, interviews Dany Bahar, Research Fellow at Brookings Institution and Associate at Harvard’s Center for International Development and Miguel Angel Santos, Adjunct Professor in Public Policy at the Harvard Kennedy School and Senior Research Fellow at Harvard’s Center for International Development. Dany and Miguel talk about their research paper "One more resource curse: Dutch disease and export concentration". In the interview, they explain the concept of Dutch disease and talk about why natural resources can be seen as a curse from an economic perspective. They also discuss the motivation behind their research, their main findings and explain how policy makers can use these learnings to make smarter policy decisions. READ THE PAPER HERE: https://bit.ly/2qpgubl Interview recorded on February 2018. www.cid.harvard.edu About Miguel Angel Santos: Miguel Angel Santos is an Adjunct Professor in Public Policy at Harvard Kennedy School of Government, and a Senior Research Fellow at the Center for International Development (CID) at Harvard University. At CID, he has been involved in various research projects aimed at helping governments to rethink their development strategies, both at the national and sub-national levels. Since he joined CID in August 2014, he has been involved in projects at the national level in Mexico, Panama, and Venezuela, and at the sub-national level in Mexico in the states of Chiapas, Baja California, Tabasco and Campeche; and the city of Hermosillo at Sonora state. He has also performed as project manager in the projects leading to the build-up of the Mexican Atlas of Economic Complexity, and the Peruvian Atlas of Economic Complexity. Before joining the field of international development, Miguel worked for ten years in corporate finance and business development in Latin America, performing as Director of Finance for the Cisneros Group of Companies (1997-2003), Head of Corporate Finance for Mercantil Servicios Financieros (2005-2007), and Business Vice-President for Sony Pictures and Entertainment Latin America (2008-2009). At that point, he decided to switch tracks and get involved in development economics. About Dany Bahar: Dany Bahar is a David M. Rubenstein Fellow in the Global Economy and Development program at the Brookings Institution. An Israeli and Venezuelan economist, he is also an associate at the Harvard Center for International Development. His research sits at the intersection of international economics and economic development. In particular, his academic research focuses on structural transformation and productivity dynamics, and how they are affected by factors such as migration, innovation, trade, investment, entrepreneurship, and the diffusion of technology within and across borders. His expertise on policy issues includes international trade, migration, and globalization more generally, as well as the understanding of economic trends in the global economy and in particular regions. His academic work has been published in top economic journals and he often contributes to leading media outlets in the United States and around the globe. He has worked and consulted for multilateral development organizations, such as the World Bank and the Inter-American Development Bank. Bahar holds a B.A. in systems engineering from Universidad Metropolitana (Caracas, Venezuela), a M.A. in economics from the Hebrew University of Jerusalem, a M.P.A. in international development from Harvard Kennedy School and a Ph.D. in public policy from Harvard University.

Harvard CID
Shifting gears in Panama: Policy Recommendations for Sustainable and Inclusive Growth

Harvard CID

Play Episode Listen Later Feb 8, 2018 19:14


CID Student Ambassador Alexandra Gonzalez interviews Miguel Angel Santos, Adjunct Professor in Public Policy, Harvard Kennedy School and Senior Research Fellow, Center for International Development at Harvard University. Miguel Angel talks about CID's research initiative aimed at exploring export diversification opportunities and understanding the potential binding constraints that Panama can run into in the process of shifting gears towards a sustainable economic growth. More info available on: --> www.cid.harvard.edu --> www,growthlab.cid.harvard.edu/panama About Miguel Angel Santos: Miguel Angel Santos is an Adjunct Professor in Public Policy at Harvard Kennedy School of Government, and a Senior Research Fellow at the Center for International Development (CID) at Harvard University. At CID, he has been involved in various research projects aimed at helping governments to rethink their development strategies, both at the national and sub-national levels. Since he joined CID in August 2014, he has been involved in projects at the national level in Mexico, Panama, and Venezuela, and at the sub-national level in Mexico in the states of Chiapas, Baja California, Tabasco and Campeche; and the city of Hermosillo at Sonora state. He has also performed as project manager in the projects leading to the build-up of the Mexican Atlas of Economic Complexity, and the Peruvian Atlas of Economic Complexity. Before joining the field of international development, Miguel worked for ten years in corporate finance and business development in Latin America, performing as Director of Finance for the Cisneros Group of Companies (1997-2003), Head of Corporate Finance for Mercantil Servicios Financieros (2005-2007), and Business Vice-President for Sony Pictures and Entertainment Latin America (2008-2009). At that point, he decided to switch tracks and get involved in development economics. He holds two Master of Science degrees in International Finance and Trade (2011) and Economics (2012) from Universitat Pompeu Fabra, a Master in Public Administration from Harvard University (2014), and a Ph.D. in Economics at Universidad de Barcelona (2016). He was the head of the Macroeconomic Policy Team for presidential candidate Henrique Capriles Radonski in the Venezuelan elections of 2012.

PolicyCast
177 Exploring the Atlas of Economic Complexity

PolicyCast

Play Episode Listen Later Nov 7, 2017 13:58


HKS Professor Ricardo Hausmann, the director of the Kennedy School’s Center for International Development, explains the concept of economic complexity and why it has become a reliable predictor of future economic growth. He also discusses the Atlas of Economic Complexity, an interactive website that could help entrepreneurs and policymakers see where a particular country’s economy is heading. This interview was originally recorded in 2013.

The Economist Asks
Cesar Hidalgo on economic complexity: Why information grows

The Economist Asks

Play Episode Listen Later Jun 15, 2015 12:01


Cesar Hidalgo from the Massachusetts Institute of Technology's Media Lab talks about how knowledge helps global economies and enhances their capacity to grow See acast.com/privacy for privacy and opt-out information.

technology grows massachusetts institute media lab economic complexity cesar hidalgo
Economist Podcasts
Cesar Hidalgo on economic complexity: Why information grows

Economist Podcasts

Play Episode Listen Later Jun 15, 2015 12:01


Cesar Hidalgo from the Massachusetts Institute of Technology's Media Lab talks about how knowledge helps global economies and enhances their capacity to grow See acast.com/privacy for privacy and opt-out information.

technology grows massachusetts institute media lab economic complexity cesar hidalgo
EconomicsNow!
Briefing: Economic Complexity – of Robots, T-Shirts and Iron Ore

EconomicsNow!

Play Episode Listen Later Jun 4, 2012


Have you ever wondered what goes into the making of a t-shirt, business shirt or blouse – like the one you are most likely wearing right now? Recently, a collaboration between physicist, César Hidalgo and Economist, Ricardo Hausmann has seen the development of fascinating techniques to do just that – to study not just the trading relationships amongst the nations of the Earth, but the product relationships that lie behind this trade. Such analysis leads to some tantalizing prospects like mapping capabilities, or measuring the product- or capability- complexity that each country possesses. In this pod-cast, we'll introduce and explore this remarkable analysis which goes under the heading: Economic Complexity.