Podcast appearances and mentions of Michael Strain

Almost a month since ‘liberation day', the potential impacts of President Donald Trump's tariff regime are starting to sink in. US hard data isn't yet showing much negative impact from changes to US trade policy – but economists are gloomy on US growth prospects. The IMF last week warned of an increased risk of US recession, and lopped nearly a full percentage point off its forecast for US growth this year. Michael Strain, director of economic policy studies at the conservative American Enterprise Institute, joins FT economics editor Sam Fleming to discuss how Trump's tariff agenda may play out, which forces could force the president to change tack, and what that might look like.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Is today's economy delivering for American workers? According to Georgetown University professor Michael Strain, the answer is absolutely “yes,” despite populist rhetoric… and there's convincing data to back that up. Why is the American Dream in doubt? How can it be strengthened? Listen to this inspiring conversation for answers.

Ali Velshi is joined by Independent Journalist Jim Acosta, Director of Economic Policy Studies & Senior Fellow at the American Enterprise Institute Michael Strain, National Security Attorney Bradley Moss, Former U.S. Attorney Joyce Vance, Journalist John Harwood, Chief Economist at KPMG Diane Swonk, Staff Writer at The Atlantic Anne Applebaum, President of PEN America Board of Trustees Jennifer F. Boylan.

As the US government imposed tariffs on goods from all other countries, President Donald Trump has asked Americans to “hang tough". But economists are warning of negative consequences for American households and businesses. Georgetown University professor Michael Strain, who heads economic policy studies at the American Enterprise Institute, tells host Steve Clemons that “the risk of recession is very, very real.” Trump believes that the tariffs will stimulate the US economy and bring jobs back after decades of outsourcing, Strain argues, but the opposite is more likely: costs will rise, manufacturing will decrease, and Trump's approval rating will go down. Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on X : https://twitter.com/AJEnglish Find us on Facebook: https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ Download AJE Mobile App: https://aje.io/AJEMobile #aljazeera #aljazeeraenglish #aljazeeranewslive

The fundamentals of the economy are strong. So why are the Dow Jones down and fears of a recession up? Perhaps because President Trump is rocking the economic boat by threatening tariffs on historic trading partners, only to rescind them the same day; taking a chainsaw to government expenditures when he should be using a […]

The fundamentals of the economy are strong. So why are the Dow Jones down and fears of a recession up? Perhaps because President Trump is rocking the economic boat by threatening tariffs on historic trading partners, only to rescind them the same day; taking a chainsaw to government expenditures when he should be using a scalpel; and talking about structurally changing the U.S. economy. Will Trump's disruptive approach to the international economy enrich Americans in the long run? Or are the tariffs, and the flip-flopping, going to backfire? Michael Strain is the director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. He is also the Professor of Practice at the McCourt School of Public Policy at Georgetown University, a research fellow with the IZA Institute of Labor Economics, a research affiliate with the Institute for Research on Poverty at the University of Wisconsin–Madison, and a member of the Aspen Economic Strategy Group. Dr. Strain also writes as a columnist for Project Syndicate.Read the transcript here. Subscribe to our Substack here.

There's a whole lot of red on various stock market indices this week, so Jonah Goldberg has conscripted Michael Strain, director of economic policy at the American Enterprise Institute, to talk money. Topics include: the likelihood of recession, tumultuous trade policy, and Jonah's crusade against the cryptocurrency reserve. Show Notes: —Cato Institute: “The Problem of the Tariff in American Economic History, 1787–1934” The Remnant is a production of The Dispatch, a digital media company covering politics, policy, and culture from a non-partisan, conservative perspective. To access all of The Dispatch's offerings—including Jonah's G-File newsletter, regular livestreams, and other members-only content—click here. Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode has three chapters. Each one answers a key question, and, bottom line, it all adds up to action steps directly and indirectly for many, including plan sponsors probably, community leaders, and also hospital boards of directors. Here's the three chapters in sum. For a full transcript of this episode, click here. If you enjoy this podcast, be sure to subscribe to the free weekly newsletter to be a member of the Relentless Tribe. Chapter 1: Are commercial insurance premiums rising faster than the inflation rate? And if so, is the employee portion of those premiums also rising, meaning a double whammy for employees' paychecks (ie, premium costs are getting bigger and bigger in an absolute sense, and also employees' relative share of those bigger costs is also bigger)? Spoiler alert: yes and yes. Chapter 2: What is the biggest reason for these premium increases? Like, if you look at the drivers of cost that underpin those rising premiums, what costs a lot that is making these premiums cost a lot? Spoiler alert: It's hospitals and the price increases at hospitals. And just in case anyone is wondering, this isn't, “Oh, chargemasters went up” or some kind of other tangential factor. We're talking about the revenue that hospitals are taking on services delivered has gone up and gone up way higher than the inflation rate. In fact, hospital costs have gone up over double the amount that premiums have gone up. Wait, what? That's a fact that Dr. Vivian Ho said today that threw my brain for a loop: Hospital costs have gone up over double the amount that premiums have gone up. Chapter 3: Is the reason that hospital prices have rocketed up as they have because the underlying costs these hospitals face are also going up way higher than the inflation rate? Like, for example, are nurses' salaries skyrocketing and doctors are getting paid a lot more than the inflation rate? Stuff like this. Too many eggs in the cafeteria. Way more charity care. Bottom line, is an increase in underlying costs the reason for rising hospital prices? Spoiler alert: no. No to all of the above. And I get into this deeply with Dr. Vivian Ho today. But before I do, I do just want to state with three underlines not all hospitals are the same. But yeah, you have many major consolidated hospitals crying about their, you know, “razor-thin margins” who are, it turns out, incentivizing their C-suites to do things that ultimately wind up raising prices. I saw a PowerPoint flying around—you may have seen it, too—that was apparently presented by a nonprofit hospital at JP Morgan, and it showed this nonprofit hospital with a 15.1% EBITDA (earnings before interest, taxes, depreciation, and amortization) in 2024. Not razor thin in my book. It's a, the boards of directors are structuring C-suite incentives in ways that ultimately will raise prices. If you want to dig in a little deeper on hospital boards and what they may be up to, listen to the show with Suhas Gondi, MD, MBA (EP404). Vivian Ho, PhD, my guest today, is a professor and faculty member at Rice University and Baylor College of Medicine. Her most major role these days is working on health policy at Baker Institute at Rice University. Her work there is at the national, state, and local levels conducting objective research that informs policymakers on how to improve healthcare. Today on the show, Professor Vivian Ho mentions research with Salpy Kanimian and Derek Jenkins, PhD. Alright, so just one quick sidebar before we get into the show. There is a lot going on with hospitals right now. So, before we kick in, let me just make one really important point. A hospital's contribution to medical research, like doing cancer clinical trials, is not the same as how a hospital serves or overcharges their community or makes decisions that increase or reduce their ability to improve the health and well-being of patients and members who wind up in or about the hospital. Huge, consolidated hospital networks can be doing great things that have great value and also, at the exact same time, kind of harmful things clinically and financially that negatively impact lots of Americans and doing all of that simultaneously. This is inarguable. Also mentioned in this episode are Rice University's Baker Institute for Public Policy; Baker Institute Center for Health Policy; Suhas Gondi, MD, MBA; Salpy Kanimian; Derek Jenkins, PhD; Byron Hugley; Michael Strain; Dave Chase; Zack Cooper, PhD; Houston Business Coalition on Health (HBCH); Marilyn Bartlett, CPA, CGMA, CMA, CFM; Cora Opsahl; Claire Brockbank; Shawn Gremminger; Autumn Yongchu; Erik Davis; Ge Bai, PhD, CPA; Community Health Choice; Mark Cuban; and Ferrin Williams, PharmD, MBA. For further reading, check out this LinkedIn post.   You can learn more at Rice University's Center for Health Policy (LinkedIn) and Department of Economics and by following Vivian on LinkedIn.   Vivian Ho, PhD, is the James A. Baker III Institute Chair in Health Economics, a professor in the Department of Economics at Rice University, a professor in the Department of Medicine at Baylor College of Medicine, and a nonresident senior scholar in the USC Schaeffer Center for Health Policy and Economics. Ho's research examines the effects of economic incentives and regulations on the quality and costs of health care. Her research is widely published in economics, medical, and health services research journals. Ho's research has been funded by the National Institutes of Health (NIH), the Agency for Healthcare Research and Quality, the American Cancer Society, and Arnold Ventures. Ho has served on the Board of Scientific Counselors for the National Center for Health Statistics, as well as on the NIH Health Services, Outcomes, and Delivery study section. She was elected as a member of the National Academy of Medicine in 2020. Ho is also a founding board member of the American Society for Health Economists and a member of the Community Advisory Board at Blue Cross Blue Shield of Texas. Ho received her AB in economics from Harvard University, a graduate diploma in economics from The Australian National University, and a PhD in economics from Stanford University.   05:12 Are insurance premiums going up? 05:59 What is the disparity between cost of insurance and wage increases? 06:21 LinkedIn post by Byron Hugley. 06:25 Article by Michael Strain. 06:46 How much have insurance premiums gone up for employers versus employees? 09:06 Chart showing the cost to insure populations of employees and families. 10:17 What is causing hospital prices and insurance premiums to go up so exponentially? 12:53 Article by (and tribute to) Uwe Reinhardt. 13:49 EP450 with Marilyn Bartlett, CPA, CGMA, CMA, CFM. 14:01 EP452 with Cora Opsahl. 14:03 EP453 with Claire Brockbank. 14:37 EP371 with Erik Davis and Autumn Yongchu. 15:28 Are razor-thin operating margins for hospitals causing these rising hospital prices? 16:56 Collaboration with Marilyn Bartlett and the NASHP Hospital Cost Tool. 19:47 What is the explanation that hospitals give for justifying these profits? 23:16 How do these hospital cost increases actually happen? 27:06 Study by Zack Cooper, PhD. 27:35 EP404 with Suhas Gondi, MD, MBA. 27:50 Who typically makes up a hospital board, and why do these motivations incentivize hospital price increases? 30:12 EP418 with Mark Cuban and Ferrin Williams, PharmD, MBA. 33:17 Why is it vital that change start at the board level?   You can learn more at Rice University's Center for Health Policy (LinkedIn) and Department of Economics and by following Vivian on LinkedIn.   Vivian Ho discusses #healthinsurance #premiums and #hospitalpricing on our #healthcarepodcast. #healthcare #podcast #changemanagement #healthcareleadership #healthcaretransformation #healthcareinnovation   Recent past interviews: Click a guest's name for their latest RHV episode! Chris Crawford (EP465), Al Lewis, Betsy Seals, Wendell Potter (Encore! EP384), Dr Scott Conard, Stacey Richter (INBW42), Chris Crawford (EP461), Dr Rushika Fernandopulle, Bill Sarraille, Stacey Richter (INBW41)  

AEI's Michael Strain analyzes the mistakes left and right make about middle class stagnation, quality of life, and other matters. Plus, what is risked when Trump/Musk attack foundational institutions. This episode is sponsored by BetterHelp. Give online therapy a try at betterhelp.com/mona and get on your way to being your best self. Referenced Works & Figures: Michael Strain's Book — The American Dream Is Not Dead: (But Populism Could Kill It) Elizabeth Warren & Bill de Blasio – Critique of middle-class decline. Josh Hawley – Comment on wage stagnation. David Autor's "China Shock" Paper – Study on trade-induced job losses. Robert Bork's Antitrust Theories – Influence on U.S. competition policy. Smoot-Hawley Tariffs – Historical reference to the consequences of trade protectionism. Occupy Wall Street & Tea Party Movements – Examples of populist political reactions. Federal Job Training Programs – Discussion on their past inefficacy and recent improvements.

Today on Political Economy, Michael Strain and I discuss the key challenges currently facing the American economy; namely, the growing debt burden, lingering inflation, the market response to tariffs, and general uncertainty.Strain is the director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy here at AEI. He has published dozens of articles in leading academic and policy journals in addition to his 2020 book, The American Dream is Not Dead. He is a professor at Georgetown University's McCourt School of Public Policy and a research fellow at the Institute for the Study of Labor.

President Donald Trump has routinely said he supports immigration, as long as it's legal, including when Marc interviewed the former president for the Washington Post. Then in the pages of National Review, Marc's AEI colleagues Michael Strain and Ramesh Ponnuru debated the extent to which Trump supported legal immigration during his presidency and now on […]

President Donald Trump has routinely said he supports immigration, as long as it's legal, including when Marc interviewed the former president for the Washington Post. Then in the pages of National Review, Marc's AEI colleagues Michael Strain and Ramesh Ponnuru debated the extent to which Trump supported legal immigration during his presidency and now on the campaign trail. So, we are bringing Strain and Ponnuru onto the pod to debate the extent of Trump's support for legal immigration, and how he might and should address immigration reform in a potential second term. Ramesh Ponnuru is a nonresident senior fellow at the American Enterprise Institute, where he studies politics and public policy with a particular focus on the future of conservatism. Concurrently, he is the editor of National Review, where he has covered national politics and public policy for 25 years, and a columnist for the Washington Post.Michael Strain is the director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. He is also the Professor of Practice at the McCourt School of Public Policy at Georgetown University, a research fellow with the IZA Institute of Labor Economics, a research affiliate with the Institute for Research on Poverty at the University of Wisconsin–Madison, and a member of the Aspen Economic Strategy Group. Dr. Strain also writes as a columnist for Project Syndicate. Read the transcript here. Read Marc's interview with President Trump in the Washington Post here. Read Michael Strain's article in the National Review here. Read Ramesh Ponnuru's article in the National Review here. Subscribe to our Substack here.

In the lead-up to the pivotal election, the state of the economy has emerged as a central focus for many voters grappling with high inflation, supply chain disruptions, and lingering uncertainty about the future. As Americans navigate the complex landscape of economic challenges, understanding the perspectives of economists and analysts becomes paramount. Michael Strain from American Enterprise Institute and Natalie Gochnour from Kem C. Gardner Policy Institute helps answer where experts see positive signs of resilience and potential for growth and where they foresee continued headwinds and reasons for concern. The answers to these critical questions will not only shape the electoral outcome, but also profoundly impact the day-to-day lives and long-term financial security of individuals and families across the country.

Start your week of news off right with Boyd Matheson! Boyd and David Drucker delve into how the presidential election is shaping out right now. Michael Strain and Natalie Gochnour help project what the economy will look like after the election. See how to maintain relationships through divisive politics with J.D. Tuccille. Kelsey Dallas breaks down religious freedom’s role in the election and More!

Mark and Cris are joined by Dante and Michael Strain, Director of Economic Policy Studies at the American Enterprise Institute.  Dante kicks things off with a detailed summary of the stronger than expected U.S. employment report for September. Buoyant wage growth and upward revisions to July and August's numbers confirm that the economy remains healthy.  The discussion then pivoted to the presidential election with Michael making a strong case for status quo economic policies and divided government.Check out Michael's Strain's Book: The American Dream Is Not DeadGuest: Michael R. Strain - Director of Economic Policy Studies, American Enterprise Institute (AEI)Guest: Dante DeAntonio, Senior Director of Economic Research, Moody's AnalyticsHosts: 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

Economies have been subjected to profound disruptions from technological change in the past -- from the adoption of weaving machines in the 19th century, to the mechanization of agriculture, and the use of robotics in manufacturing. Yet, these disruptions very often led to a broad increase in societal wealth, and the creation of entirely new occupations. Will generative AI both disrupt and benefit economies? Michael Strain joins EconoFact Chats to make a case for AI optimism, highlighting how America's experiences with technology-driven disruption have proved a net benefit historically. Mike is the Director of Economic Policy Studies, and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. He is also a member of EconoFact's board of advisors.

Economies have been subjected to profound disruptions from technological change in the past -- from the adoption of weaving machines in the 19th century, to the mechanization of agriculture, and the use of robotics in manufacturing. Yet, these disruptions very often led to a broad increase in societal wealth, and the creation of entirely new occupations. Will generative AI both disrupt and benefit economies? Michael Strain joins EconoFact Chats to make a case for AI optimism, highlighting how America's experiences with technology-driven disruption have proved a net benefit historically. Mike is the Director of Economic Policy Studies, and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. He is also a member of EconoFact's board of advisors.

Is there a silver lining to the AI cloud? With so much talk of the doom and gloom of the AI age, we've lost sight of the potential benefits of such a tectonic shift in technology. Michael Strain joins David Rothkopf to share why he's an AI optimist and why its benefits have been minimized in the mainstream discourse. This material is distributed by TRG Advisory Services, LLC on behalf of the Embassy of the United Arab Emirates in the U.S.. Additional information is available at the Department of Justice, Washington, DC. Learn more about your ad choices. Visit megaphone.fm/adchoices

Is there a silver lining to the AI cloud? With so much talk of the doom and gloom of the AI age, we've lost sight of the potential benefits of such a tectonic shift in technology. Michael Strain joins David Rothkopf to share why he's an AI optimist and why its benefits have been minimized in the mainstream discourse. This material is distributed by TRG Advisory Services, LLC on behalf of the Embassy of the United Arab Emirates in the U.S.. Additional information is available at the Department of Justice, Washington, DC. Learn more about your ad choices. Visit megaphone.fm/adchoices

Donald Trump has made inflation a central part of his campaign message. At his rallies, he rails against “the Biden inflation tax” and “crooked Joe's inflation nightmare,” and promises that in a second Trump term, “inflation will be in full retreat.”But if you look at Trump's actual policies, that wouldn't be the case at all. Trump has a bold, ambitious agenda to make prices much, much higher. He's proposing a 10 percent tariff on imported goods, and a 60 percent tariff on products from China. He wants to deport huge numbers of immigrants. And he's made it clear that he'd like to replace the Federal Reserve chair with someone more willing to take orders from him. It's almost unimaginable to me that you would run on this agenda at a time when Americans are so mad about high prices. But I don't think people really know that's what Trump is vowing to do.So to drill into the weeds of Trump's plans, I decided to call up an old friend. Matt Yglesias is a Bloomberg Opinion columnist and the author of the Slow Boring newsletter, where he's been writing a lot about Trump's proposals. We also used to host a policy podcast together, “The Weeds.”In this conversation, we discuss what would happen to the economy, especially in terms of inflation, if Trump actually did what he says he wants to do; what we can learn from how Trump managed the economy in his first term; and why more people aren't sounding the alarm.Mentioned:“Trump's new economic plan is terrible” by Matthew Yglesias“Never mind: Wall Street titans shake off qualms and embrace Trump” by Sam Sutton“How Far Trump Would Go” by Eric CortellessaBook Recommendations:Take Back the Game by Linda Flanagan1177 B.C. by Eric H. ClineThe Rise of the G.I. Army, 1940-1941 by Paul DicksonThoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.This episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact-checking by Kate Sinclair and Mary Marge Locker. Mixing by Isaac Jones, with Aman Sahota. Our senior editor is Claire Gordon. The show's production team also includes Annie Galvin, Elias Isquith and Kristin Lin. Original music by Isaac Jones. Audience strategy by Kristina Samulewski and Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Sonia Herrero, Adam Posen and Michael Strain.

Boyd talks with AEI scholar Michael Strain about the myths surrounding the perceived decline of the American Dream. And an ambassador to Kenya is bringing a different approach to diplomacy that is leading a lot of conversations in Washington. Don't miss out on Inside Sources!

The "American Dream" has long captured the imagination and aspiration of people both within the United States and around the world. At its core, this ideal represents the belief that through hard work, determination, and equal opportunity, anyone can transcend their circumstances and achieve upward economic mobility and personal fulfillment. However, intense debates have raged over whether this Dream remains realistically attainable in modern America or has devolved into a distant myth. But for those who believe the American Dream is beyond reach, it's time to think again. Michael Strain from the American Enterprise Institute joins the show.  

A center-right economic policy agenda has traditionally meant a focus on lower marginal tax rates, fiscal prudence, an openness to immigration, free trade and globalization. In recent years however, there has been significant change in the Republican Party's stance on some of these issues -- especially trade and immigration. Michael Strain of the American Enterprise Institute (AEI) joins EconoFact Chats to highlight some of the factors driving these changes, and to discuss whether current Republican views on trade and immigration are likely to stay over coming election cycles Michael is the Director of Economic Policy Studies, and the Arthur F. Burns Scholar in Political Economy at AEI. He also serves on EconoFact's Board of Advisors.

A center-right economic policy agenda has traditionally meant a focus on lower marginal tax rates, fiscal prudence, an openness to immigration, free trade and globalization. In recent years however, there has been significant change in the Republican Party's stance on some of these issues -- especially trade and immigration. Michael Strain of the American Enterprise Institute (AEI) joins EconoFact Chats to highlight some of the factors driving these changes, and to discuss whether current Republican views on trade and immigration are likely to stay over coming election cycles Michael is the Director of Economic Policy Studies, and the Arthur F. Burns Scholar in Political Economy at AEI. He also serves on EconoFact's Board of Advisors.

Michael Strain joins Robert for a bonus episode to discuss the recent inflation numbers. They discuss whether the US economy will experience a soft landing, the US's economic relationship with China, and Trump and Biden's policy track records.Strain is the AEI Director of Economic Policy Studies and a columnist for Project Syndicate. His work focuses on labor markets, public finance, social policy, and macroeconomics.Read his recent pieces on the economic outlook and the Trump-Biden economic policies.

How is conservative thinking about economic policy and the role of government changing?From our recent symposium on the New Conservative Story, Rana Foroohar of the Financial Times moderates a discussion with Julius Krein (American Affairs) and Michael Strain (American Enterprise Institute) digging into how the American right-of-center is thinking about economic policies from trade to government spending to organized labor.

Thank you for listening to the 48th episode of "This Week's Economy." Today, I cover the following and more in 10 minutes: 1) National: - CPI inflation hotter than expected + "shrinkflation" results from failed DC policies. - Rules over discretion provide the best path forward to get our fiscal and economic houses in order, as I noted in my recent commentary at AIER-DC is broke: what does Hayek tell us about how to correct it? - Health care costs are driving burdens on federal and household budgets. What can be done about them? - Taxpayer funding of Ukraine, Israel, and other foreign affairs seems to be increasing again even as audits of the funds and extra funds aren't available. 2) States: - Texas politics are heating up as there is infighting between Republicans. When will they get their act together and return to leading by example and principles of free-market capitalism? - Texas is the state export leader for the 21st year in a row with 23% of the nation's exports from a state with 10% of US GDP, but there's still room to improve. 3) My Media Hits & Other: - I will be in Las Vegas next week to speak at a conference by Health Care Administrators Association about the rising burden of health care. - I'll also be speaking at an upcoming health care conference by Global Health where I'll interview Dr. Deane Waldman about the pros and cons of price transparency in health care. - See this week's LPP episode with Dr. Michael Strain on the national debt crisis, Trumpism, and why the American dream isn't dead. -Don't miss the upcoming LPP episode with Dr. Sven Larson on how Europe compares with the U.S., and what should be done to avoid the malaise in Europe here. Please share this on social media, and provide a rating and review. Also, subscribe and see show notes for this episode on Substack (www.vanceginn.substack.com) and visit my website for economic insights (www.vanceginn.com).

Episode 83 is with Dr. Michael Strain, director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. Today, we discuss: 1) Why the American Dream is NOT dead, and much economic pessimism is overblown; 2) The problem with populism and its origins on both sides of the aisle; and 3) Reasons for optimism on wages, GDP, and much more. Please share this on social media and provide a rating and review. Thanks! Also, subscribe and see show notes for this episode on Substack (www.vanceginn.substack.com) and visit my website for economic insights (www.vanceginn.com).

Thank you for listening to the 47th episode of "This Week's Economy." Today, I cover the following and more in 10 minutes: 1) National: - The federal fiscal trajectory is unsustainable and must be corrected before more crises happen, as the trust funds for Social Security and Medicare are expected to run dry over the next decade - U.S. household debt rose by $212 billion in Q4 2023 to a new record of $15.7 trillion - Federal Reserve Chairman Jerome Powell recently noted on 60 Minutes that no target federal funds rate cuts until at least May 2024, and Congress must get control of deficit spending - What's really going on at the border? I wonder if it has anything to do with Trump's trade war and lockdowns, as apprehensions started increasing in 2020 before Biden took office 2) States: -Texas approved a new constitutional amendment that provides $10 billion for low-interest loans to companies building thermal energy plants, increasing corporate welfare in Texas -Americans for Tax Reform has updated the Sustainable Budget Project website, showing how states can improve budgets and providing economic and fiscal comparisons -The Kansas Policy Institute released the third iteration of the Responsible Kansas Budget, revealing ample opportunity for Kansas to limit government spending and reduce tax rates. 3) My Media Hits & Other: - I had a blast at the Brickell Unconference in Miami with many freedom fighters known as Freedom Conservatives - Check out this week's LPP episode with Dr. Bryan Caplan on the myth of the rational voter, the case against education, open borders, and more -Don't miss this upcoming LPP episode on Monday with Dr. Michael Strain on the national debt crisis, Trumpism, and why the American dream isn't dead Please like this video, subscribe to the channel, share it on social media, and provide a rating and review. Also, subscribe and see show notes for this episode on Substack (www.vanceginn.substack.com) and visit my website for economic insights (www.vanceginn.com).

In this week's Macrocast, Ylan, John, and Brendan host a conversation with special guest Michael Strain, the Director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute (AEI). Their discussion begins by analyzing the addition of 216,000 jobs and a steadfast unemployment rate, examining how different economic indicators impact the Fed's interest rate decisions. Additionally, they reflect on how inflation impacts consumer confidence, juxtaposing the strength of the American labor market against the reality of stretched budgets. With jobs top of mind, they explore AI's potential to redefine jobs and wages, contrasting it with technological advancements in the 1980s. Specifically, they consider whether AI will be the great disruptor of high-wage roles or an unexpected ally, fostering innovation in some industries. Be sure to listen and, for more, check out Michael's recent book The American Dream Is Not Dead: (But Populism Could Kill It).

Jonah indulges in one of his favorite traditions in today's Remnant: kvetching about economics with Michael Strain, the American Enterprise Institute's director of economic policy studies. Their conversation offers a crash course in the history of economics as a social science, a guide to the myths of income inequality, and a few musings on what really caused the Great Depression. Plus, they explore perhaps the most important topic of all: TV shows you should watch instead of paying attention to your children this holiday season Show Notes: -Dr. Strain's page at AEI -Dr. Strain: “The Myth of the 1%” -Jonah: “Mr. Piketty's Big Book of Marxiness” Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Strain, resident scholar and the director of economic policy studies at the American Enterprise Institute (AEI) returns to the podcast to discuss the Fed's big pivot towards rate cuts early next year and the resulting monster rally in stocks and bonds. The discussion then turns to what ails the collective psyche. Think rents and the price of ramen. For mor information on Michael Strain click hereFollow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

Key Insights:* Critics: Cato-style libertarians, including AEI's Michael Strain. The last die-hard classic Milton Friedman-style economic libertarians—and starting in 1975, Milton Friedman would say, every three years, that the Swedish social democratic model was going to collapse in the next three years.* Critics: Progressives—Biden is a tool of the neoliberals, and secretly Robert Rubin in disguise. People like David Dayen. They seem to be going through the motions—half-heartedly making their arguments to try to shift the Overton Window, but knowing deep down that Biden is about as good as they are going to get* Critics: Ezra Klein and the other supply-side progressives, worried that Bidenomics in danger of supporting too much procedural obstacles through “community engagement” and “consensus building”, and will wind up pissing its money away without boosting America's productive capacity.* Critics: The Economist magazine and some of the people at the Financial Times, writing about how the Biden administration's policies are “mismanaging the China relationship” and raising “troubling questions”—that decoupling will never work, that Chinese manufactured products are too good and too cheap to pass up; that you can't correct for for externalities; & c.* Critics: Macro policy was unwise, inflationary, and pissed away on income support resources that ought to have been used to boost industrial development. But Biden may skate through because he was undeservedly lucky.* The real critique: Implementation—the U.S. government does not have the state capacity to pick or subsidize “winners” in the sense of companies whose activities have large positive externalities.* To deal with (6), supporters of Bidenomics need to (a) figure out what the limits of U.S. state capacity are, and (b) shape CHIPS and IRA spending to stay within them; meanwhile, critics need to (c) come up with evidence of overreach on attempts to use state capacity to do things.* What is valid in the criticisms of Bidenomics is part of a more general critique—that we have a society in which there are limited sources of social power, namely, primarily money, secondarily a somewhat threadbare rule of law, tertiarily a somewhat shredded state administrative staff. We need other sources of social power—like unions, civic organizations, and so forth that aren't just politicians and NGOs that use direct-to-donor advertising to terrorize and guilt-trip their funders, and that take government money and use it to do nothing constructive at all.* Friendshoring rather than onshoring.* Japan is potentially an enormous productive asset for the U.S. to draw on.* And, of course: Hexapodia!References:* Libby Cantrill & al.: CHIPS & Science Act ‘The Closest We've Had to Industrial Policy' in Decades…* Economist: The lessons from America's astonishing economic record: ‘The more that Americans think their economy is a problem in need of fixing, the more likely their politicians are to mess up…. Subsidies… risk dulling market incentives to innovate… [and] will also entrench wasteful and distorting lobbying …* Economist: The world is in the grip of a manufacturing delusion: ‘How to waste trillions of dollars…. Governments… view… factories as a cure for the ills of the age—including climate change, the loss of middle-class jobs, geopolitical strife and weak economic growth—with an enthusiasm and munificence surpassing anything seen in decades…* Henry Farrell: Industrial policy and the new knowledge problem: ‘Modern industrial policy… [requires] investment and innovation decisions [that] involve tradeoffs that market actors are poorly equipped to resolve…. [Yet] we lack the kinds of expertise that we need…. This lack of knowledge is in large part a perverse by-product of the success of Chicago economists' rhetoric…. Elite US policy schools… have by and large converged on a framework derived from a watered down version of neoclassical economics…. New skills, including but not limited to network science, material science and engineering, and use of machine learning would be one useful contribution towards solving the new knowledge problem…* Rana Foroohar: New rules for business in a post-neoliberal world: ‘“Reimagining the Economy”… by economists Dani Rodrik and Gordon Hanson…. The Roosevelt Institute… progressive politicos (many from within the administration) gathered to discuss the details of America's industrial policy… the opposite of trickle-down…* Andy Haldane: The global industrial arms race is just what we need: ‘Manufacturing is undergoing a revival around the world…. An arms race to invest in decarbonising technologies is in fact exactly what the world needs to tackle two global externalities—the climate crisis and the investment drought…* Greg Ip: This Part of Bidenomics Needs More Economics: Massive sums are being spent on industrial policy with little guidance from economic theory or research…* Réka Juhász & al.: The Who, What, When, and How of Industrial Policy: A Text-Based Approach: ‘We create an automated classification algorithm and categorize policies from a global database…* Ezra Klein & Robinson Meyer: Biden's Anti-Global Warming Industrial Policy After One Year…* Anne O. Krueger: Why Is America Undercutting Japan?: ‘United States… wasteful, inefficient industrial policies…. The Inflation Reduction Act (IRA) and the CHIPS and Science Act… directly threaten the Japanese economy (and many other US “friends”)…* Paul Krugman: ‘I guess I shouldn't be surprised that there's pushback against the observation of a Biden manufacturing boom…. The usual suspects claimed that a green energy transition would require huge economic sacrifice. Seeing this much investment in response to subsidies that are still only a fraction of 1% of GDP suggests otherwise…* Nathaniel Lane & Rék Juhász: Economics Must Catch Up on Industrial Policy: ‘Industrial policy… is back in a big way…. Governments are trying to improve the performance of key business sectors. Can they manage to do so without subverting competition and subsidizing special interests?…* Dani Rodrik: An Industrial Policy for Good Jobs: ‘A modern approach to industrial policy must… target “good-jobs externalities,” in addition to the traditional learning, technological, and national security considerations…* Noah Smith: ‘David Dayen and Marshall Steinbaum completely misrepresented Ezra Klein's "supply-side liberal" position. This is not good faith debate at all…* Noah Smith: ‘Oh, and notice that this framing [from David Dayen]—“The claim made here is that the dumb U.S. workforce fell behind, and now TSMC has to make up for it with Taiwanese workers…”—treats job skills as a test of inborn IQ, rather than something that has to be learned and taught. Wild…* Noah Smith: ‘Neoliberalism: a thread…. Markets as the fundamental generators of prosperity, and government as the way to distribute that prosperity more equitably…. Government can't shoulder the entire burden…. We need additional, quasi-independent institutions, like unions…. Industrial policy is underrated, both at the national and the local level. Neoliberalism under-emphasizes science policy, for example. I want a Big Push for science-driven growth…. Can the government "pick winners"? Yes. The government *must* pick winners. Green energy and other zero-carbon technologies being chief among the things we must pick…* Michael Spence: In Defense of Industrial Policy: ‘The real question is not whether industrial policy is worth pursuing, but how to do it well…+, of course:* Vernor Vinge: A Fire Upon the Deep  Get full access to Brad DeLong's Grasping Reality at braddelong.substack.com/subscribe

On this episode of Future of Freedom, host Scot Bertram is joined by two guests with opposing viewpoints on the need for additional government intervention in the markets to achieve specific policy goals. First on the show is Henry Olsen, senior fellow at the Ethics and Public Policy Center and columnist for the Washington Post. Later, we hear from Michael Strain, director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. You can find Henry on Twitter at @HenryOlsenEPPC and Michael at @MichaelRStrain. --- Support this podcast: https://podcasters.spotify.com/pod/show/future-of-freedom/support

The US economy has proven resilient after more than a year's worth of interest-rate hikes, with a steady drumbeat of recession predictions having been proven wrong. New data released this week continued to point away from a downturn. Still, some forecasters warn a recession might still be coming, and that it could coincide with the 2024 presidential election. On this week's episode, we look at how the current leading candidates for the White House are framing the economy. Bloomberg Senior Reporter Nancy Cook describes the challenge facing President Joe Biden: the economy has thrived on his watch, especially in terms of record low unemployment, but the overhang of persistent inflation weighs heavy on voters' minds. Meantime, Florida Governor Ron DeSantis and former President Donald Trump haven't put forward any economic plans and have largely focused on divisive social issues and the threats posed by China. Then Stephanie sits down with Michael Strain, director of economic policy studies at the American Enterprise Institute, a right-leaning think tank, and Bloomberg economist Anna Wong. They discuss how the US economy will evolve leading up to the 2024 vote, and how important it might be in deciding the election. Wong says that, while Biden's signature economic legislation—the Inflation Reduction Act, the CHIPS and Science Act, and the Bipartisan Infrastructure Law—are investments that will play out in the long term, short-term costs of higher inflation and recession risks may offset the benefits, and even outweigh them.See omnystudio.com/listener for privacy information.

Before Friday, Silicon Valley Bank was the sixteenth largest bank in America. Now it bears the standard of being the second largest bank failure in US history, only upstaged by the 2008 financial crisis. As the initial shock – both to the market and to news headlines – is wearing off, some things are clear: SVB was badly run, had mismanaged its asset investments, and as a truly silicon valley-centric bank, had an un-diversified portfolio tied to tech start-ups, crypto, and its California clientele. But the real catalyst? A long year of the Biden administration's failure to combat inflation caused the Fed to hike interest rates, resulting in a major loss of asset value for the bonds SVB owned. Now, the Fed, FDIC, and Treasury Department have decided to protect depositors – but not shareholders – beyond the standard $250,000 insured cap for deposits. In short, the average taxpayer is bailing out the Silicon Valley elite. Michael Strain is the Director of Economic Policy Studies at the American Enterprise Institute. Dr. Strain is also the author of The American Dream Is Not Dead: (But Populism Could Kill It).Download the transcript here.

There has been a surge in the number workplaces in the United States voting to join a labour union. Amid this wave of unionisation, companies are pushing back hard. We find out what's happening in the US and how businesses and politicians are reacting. We hear from a worker at outdoor clothing co-operative REI where staff have voted to unionise, plus Michelle Miller, who runs Co-worker, an organisation that supports employees who want union representation. Michael Strain, an economist at the centre-right policy organisation, the American Enterprise Institute, explains that workers are actually doing quite well at the moment as unemployment is low. And have you heard of union-busting? Rebecca Givan is an Associate Professor of Labor Studies and Employment Relations at Rutgers University in New Jersey - she explains what is happening. Produced and presented by Rob Young. (Image: Workers on strike from the New York Times. Credit: Getty Images)

Michael Strain is the Director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute and is a returning guest to Macro Musings. Michael rejoins the podcast to talk about the looming debt ceiling crisis and his recent article on the issue titled, *Averting a Debt-Ceiling Disaster.* David and Michael specifically discuss the background, history and recent events leading up to the current crisis, how to impose fiscal discipline in a low interest rate world, solutions the US government could pursue, and more.   Transcript for the episode can be found here.   Michael's Twitter: @MichaelRStrain Michael's website Michael's AEI profile   David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Click here for the latest Macro Musings episodes sent straight to your inbox! Check out our new Macro Musings merch here!   Related Links:   *Averting a Debt-Ceiling Disaster* by Michael Strain     *House Republicans Prepare Emergency Plan for Breaching Debt Limit* by Jeff Stein, Leigh Ann Caldwell, and Theodoric Meyer   *Extraordinary Measures* by the Bipartisan Policy Center

Michael R. Strain is the director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. He's also the author of The American Dream Is Not Dead: (But Populism Could Kill It) During this podcast discussion, Michael talks about three things to know about the state of the US economy. He also talks about the right way to think about the debt ceiling.

With the US reaching its $31.4 trillion debt ceiling, the Republican-controlled House and Democratic administration are set to spar over raising the debt limit. To sort through what’s going on and whether the Twitter idea of minting a trillion-dollar coin could be the government’s “get out of jail free” card, I’m joined again by my […]

With the US reaching its $31.4 trillion debt ceiling, the Republican-controlled House and Democratic administration are set to spar over raising the debt limit. To sort through what's going on and whether the Twitter idea of minting a trillion-dollar coin could be the government's "get out of jail free" card, I'm joined again by my AEI colleague Michael Strain.Mike is the director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. He is also a member of the Committee on Automation and the Workforce of the National Academy of Sciences.

Guests: Leah Litman, Tim Miller, Heather Carter, Michael Strain, Michael SchmidtA TV doctor from New Jersey gets hammered for debate stage honesty. Tonight: renewed outrage over the radical Republican position on abortion they have been trying to hide. Then, new evidence that our disgraced ex-president will pull the strings if Republicans take over. Plus, do Republicans campaigning on inflation have any real plan to do anything about it? And what we know about the effort to force this guy to spill the beans about Mar-a-Lago documents.  

Michael Strain, Remnant regular and beloved economic policy wonk at AEI, returns to the program to explore the state of inflation and kvetch about the Federal Reserve. He and Jonah also provide some unwashed commentary on House of the Dragon, discuss whether economics really is a dismal science, and mix in some thoughts on the ongoing Russia-Ukraine conflict. Can inflation be fought at the state level? When should economics and politics mix? And is it possible for a Remnant episode to be too long and nerdy?Show Notes:- Michael's page at AEI- Jonah: “Not Everything Is a Morality Tale”- Russia's oil riches- Celebrate Kevin D. Williamson's arrival at The Dispatch with a 30-day free trial

Each week, Norm Ornstein and Kavita Patel, talk about the issues facing our country as we head into the midterms and what our leaders are saying and doing about them. We hope you like the show and we'd love to hear your feedback. If you have any comments feel free to send us an email at podcasts@thedsrnetwork.com. On this week's episode, we talk with Michael Strain, the director of Economic Policy Studies, and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute, about where the labor market is and what the recent reports tell us about the economy overall.   Learn more about your ad choices. Visit megaphone.fm/adchoices

We return from our hiatus to discuss Biden's trillion-dollar student loan forgiveness plan. Even for those with little background in economics, this is clearly a case of the inverse Robin Hood: a regressive act that takes from the poor and gives to the much less poor. Not to mention, the plan is an assault on the […]

We return from our hiatus to discuss Biden's trillion-dollar student loan forgiveness plan. Even for those with little background in economics, this is clearly a case of the inverse Robin Hood: a regressive act that takes from the poor and gives to the much less poor. Not to mention, the plan is an assault on the Congressional power of the purse, and legally murky with the justification of the post-9/11 Heroes Act. And let us not forget that this act paradoxically comes on the heels of Biden's Inflation Reduction Act, though it is an incredibly costly plan that will only exacerbate current inflation levels. As the Democratic Party consolidates its role as the party of college-educated coastal elites, AEI's Michael Strain joins us to unpack the student loan handout. Strain is the Director of Economic Studies at the American Enterprise Institute. Download the transcript https://www.aei.org/wp-content/uploads/2022/09/Michael-Strain-Sept-7-Final-Transcript.docx (here).

A bevy of market signals have alarmed investors: oil prices slipping, a surprise Nasdaq rally, a yield curve inversion. As inflation remains elevated and recession fears loom over the markets, the Federal Reserve and the Biden administration balance their respective toolsets to mitigate pressure on the American economy. Austan Goolsbee, former CEA chairman and Booth School of Business professor, and fellow economist Michael Strain, director of economic policy at AEI, discuss whether their strategies are enough to avoid a deep recession. In other headlines, the FDA has temporarily paused the ban on Juul e-cigarettes, and senators are urging the Federal Trade Commission to investigate TikTok. Plus, many employees are willing to take a pay cut to work at companies that align with their own values; CNBC's Sharon Epperson reports on how the pandemic has shifted purpose, well-being, and values to the forefront of employee-employer relationships.  In this episode: Austan Goolsbee, @Austan_GoolsbeeMichael Strain, @MichaelRStrainJoe Kernen, @JoeSquawkMelissa Lee @MelissaLeeCNBCSharon Epperson, @Sharon_EppersonKatie Kramer, @Kramer_Katie

The Federal Reserve recently announced a 75-basis-point rate hike — the largest since 1994 — in an attempt to curb inflation. The Fed’s aim is to thread the needle by cooling the economy just enough to rein in rising prices without inducing a recession. But will the Fed succeed, or is a recession on the […]

Since our episode on inflation with Glenn Hubbard last month, his dire predictions about a likely recession have gathered steam. And though we're not yet officially in a recession, Americans' economic pain is only growing: New record average high gas prices in June, likely rolling blackouts, shocking inflation at the supermarket and now the cost of money has skyrocketed too. Meanwhile, here […]

Since our episode on inflation with Glenn Hubbard last month, his dire predictions about a likely recession have gathered steam. And though we're not yet officially in a recession, Americans' economic pain is only growing: New record average high gas prices in June, likely rolling blackouts, shocking inflation at the supermarket and now the cost of money has skyrocketed too. Meanwhile, here in Washington, the President continues to go on vacation every weekend, deny that inflation is his fault, and push a mindless spending agenda. How did the Fed, White House economists, and mainstream professional forecasters get it so wrong? And perhaps more importantly, what should be done going forward? These questions and more on today's episode with Michael Strain. Strain is the Director of Economic Studies at the American Enterprise Institute. Download the transcript https://www.aei.org/wp-content/uploads/2022/06/Mike-Strain-Final-Transcript.docx (here).