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What are tariffs really used for? For economic protection? For political gain? For enforcing foreign policy? In this interview, I discuss the following with my guest scholar: ►Why James Madison foresaw tariffs as an inevitable source of conflict? ►In U.S. history, did Americans ever complain that tariffs are really a tax on the people? ►What was the first instance in which tariffs were used as a foreign policy tool? ►What is the Tariff of Abominations? ►How did tariffs backfire on Southern politicians? ►How are tariffs and secession movements related? ►Were tariffs part of Civil War's history? ►What powers did Congress grants to FDR over tariffs? ►What part of U.S. history does Pres. Trump point to as justification for his tariff policy? ►What was Pres. Reagan's tariff policy? ►How is tariff policy with the USSR different than our tariff policy toward China?
On this week's Education Gadfly Show podcast, Scott Marion, Executive Director of the Center for Assessment, joins Mike and David to discuss why states should maintain annual assessments—even if the Trump Administration waives some federal testing requirements. Then, on the Research Minute, Adam reviews a study comparing surveys and test scores as measures of school quality and predictors of long-term student success.Recommended content: The Case for State Testing, The National Center for the Improvement of Education Assessment, Inc., (March 2025).The Case for Statewide School Accountability Systems, The National Center for the Improvement of Education Assessment, Inc., (March 2025).Victoria McDougald, “The case for standardized testing,” Thomas B. Fordham Institute (August 1, 2024).Michael J. Petrilli, “The best colleges for political diversity,” Thomas B. Fordham Institute (April 3, 2025).Joshua Angrist, Peter Hull, Russell Legate-Yang, Parag A. Pathak and Christopher R. Walters, Putting School Surveys to the Test, NBER (2025)Feedback Welcome: Have ideas for improving our podcast? Send them to Stephanie Distler at sdistler@fordhaminstitute.org.
Welcome to the Mixtape with Scott! This week's guest is Nathan Nunn, professor in the Vancouver School of Economics at University of British Columbia. Nathan is a development economist and economic historian whose work on the development of the African continent has been viewed as pioneering, seminal even. Two of his major works focused on the African slave trade and its impact on trust (here in this AER) and the continent's longterm development (here). The body of work is so massive that I can only point you to his webpage and vita. He's currently an editor at Quarterly Journal of Economics, a member of NBER and a research fellow at BREAD. And here is his google scholar page. And for giggles, here are the people at NotebookLM explaining his vita!Here's that NotebookLM link for people looking on YouTube or podcast platforms like Apple Music or Spotify. url: https://notebooklm.google.com/notebook/ac825f4e-3e35-4359-b154-bc82ef808a79/audioThanks again everyone and I hope you enjoy this great interview! Scott's Mixtape Substack is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Get full access to Scott's Mixtape Substack at causalinf.substack.com/subscribe
On this week's Education Gadfly Show podcast, Brian Kisida, Associate Professor at the Truman School of Government & Public Affairs at the University of Missouri, joins Mike and David to discuss his recent Education Next article, which reports on what high school students are hearing from their teachers about racism in America. Then, on the Research Minute, Amber shares a study about how test-optional policies at elite universities hurt high-achieving, disadvantaged students.Recommended content: Brian Kisida, Gary Ritter, Jennifer Gontram, J. Cameron Anglum, Heidi H. Erickson, Darnell Leatherwood, and Matthew H. Lee., “Bridging the Divide over Critical Race Theory in America's Classrooms,” Education Next (November 1, 2024).Frederick Hess, “It's a Crisis! It's Nonsense! How Political Are K–12 Classrooms?,” Education Next (Winter 2025).Bruce Sacerdote, Douglas O. Staiger & Michele Tine, How Test Optional Policies in College Admissions Disproportionately Harm High Achieving Applicants from Disadvantaged Backgrounds, NBER (2025) Feedback Welcome: Have ideas for improving our podcast? Send them to Stephanie Distler at sdistler@fordhaminstitute.org.
On this week's Education Gadfly Show podcast, Colleen Hroncich, a policy analyst with the Cato Institute's Center for Educational Freedom, joins Mike and David to discuss why pro–school choice ballot measures failed in Kentucky, Nebraska, and Colorado—and what it means for the future. Then, on the Research Minute, Adam shares a study examining 100 years of data on elite private and public colleges, revealing persistent gaps in socioeconomic diversity despite changes in racial and geographic representation.Recommended content: Colleen Hroncich, Neal McCluskey, “Referendum Losses Are No Mandate against School Choice,” Real Clear Education (November 8, 2024).Juan Perez Jr., “Republicans' big idea for remaking public education hits voter resistance,” Politico (November 27, 2024).Michael McShane “Op-ed: Despite blows, school choice swept the ballot this election,” Chalkboard News (November 14, 2024).Ran Abramitzky, Jennifer K. Kowalski, Santiago Pérez & Joseph Price, The G.I. Bill, Standardized Testing, and Socioeconomic Origins of the U.S. Educational Elite Over a Century, NBER (2024) Feedback Welcome: Have ideas for improving our podcast? Send them to Stephanie Distler at sdistler@fordhaminstitute.org.
On this week's Education Gadfly Show podcast, Marc Porter Magee, CEO and Founder of 50CAN, joins Mike and David to discuss “The State of Educational Opportunity in America," 50CAN's new report based on a survey of over 20,000 parents from all 50 states and D.C. Then, on the Research Minute, Adam shares a study examining how teacher strikes affect compensation, working conditions, and student achievement.Recommended content: The State of Educational Opportunity in America, 50CAN (2024). “Student enrollment is dropping. The charter sector should keep growing anyway.” —Michael J. PetrilliState of Educational Opportunity: Ohio Survey of Ohio Parents, Thomas B. Fordham Institute and 50CAN (2024).Melissa Arnold Lyon, Matthew A. Kraft, and Matthew P. Steinberg, The Causes and Consequences of U.S. Teacher Strikes, NBER (2024). Feedback Welcome: Have ideas for improving our podcast? Send them to Stephanie Distler at sdistler@fordhaminstitute.org.
On this week's Education Gadfly Show podcast, David Deming, a professor of Political Economy at the Harvard Kennedy School, joins Mike and David to discuss his article in The Atlantic arguing that it's not enough for governments and the private sector to eliminate college-degree requirement for good-paying jobs. Then, on the Research Minute, Amber shares a study investigating the “fade-out effect” in early childhood education programs.Recommended content: “We need supply-side education policy” —David Deming“The vibes for career-tech programs are great. But they're too rare.” —Michael J. Petrilli“What Kamala Harris should do on education and training” —Bruno V. MannoJohn A. List and Haruka Uchida, Here Today, Gone Tomorrow? Toward an Understanding of Fade-out in Early Childhood Education Programs, NBER (2024)Feedback Welcome: Have ideas for improving our podcast? Send them to Stephanie Distler at sdistler@fordhaminstitute.org.
Haman returns, this time to discuss a recent controversy over the libertarian case for drug legalization.Mentioned in the Episode and Other Links of Interest:The YouTube version of this interview.Haman's episode on Portland.Thornton on Prohibition, an NBER journal article, and Bob's book Lessons for the Young Economist.Help support the Bob Murphy Show.
On this week's Education Gadfly Show podcast, Michael Goldstein, co-founder of the Math Learning Lab in Boston, joins Mike and David to discuss the track record of high-dosage tutoring in mitigating pandemic learning loss. Then, on the Research Minute, Amber shares a study on the long-term effects of the METCO program, which aims to increase diversity and reduce racial isolation by busing students from Boston to surrounding suburbs.Recommended content: Mike Goldstein and Bowen Paulle, The narrow path to do it right: Lessons from vaccine making for high-dosage tutoring, Thomas B. Fordham Institute (March 2021)“Students aren't benefiting much from tutoring, one new study shows” —JillBarshayMatthew A. Kraft, Danielle Sanderson Edwards, and Marisa Cannata, The Scaling Dynamics and Causal Effects of a District-Operated Tutoring Program, Annenberg Institute at Brown University (August 2024)Elizabeth Setren, Busing to Opportunity? The Impacts of the METCO Voluntary School Desegregation Program on Urban Students of Color, NBER (2024) Feedback Welcome: Have ideas for improving our podcast? Send them to Stephanie Distler at sdistler@fordhaminstitute.org.
In July 1969, Neil Armstrong and Buzz Aldrin became the first humans to land on the moon. In May 2020, in response to Covid-19, the US Federal Government initiated Operation Warp Speed to accelerate the development and distribution of vaccines, cutting what would otherwise be a ten-year timeline to within 1 year. In 1989, the Montreal Protocol was established to phase out the production of substances responsible for ozone depletion. What's common among these programs? Arindam Goswamy and Shreya Ramakrishnan discuss the compelling nature of ambitious programs to solve big social challenges, what sets mission-oriented policy projects apart, and takeaways for long-term policy change. Read this NBER paper on Operation Warp Speed. Explore this article on mission-oriented innovation policies: challenges and opportunities. All Things Policy is a daily podcast on public policy brought to you by the Takshashila Institution, Bengaluru. Find out more on our research and other work here: https://takshashila.org.in/ Check out our public policy courses here: https://school.takshashila.org.in
Peter Moustakerski is CEO of Family Office Exchange (FOX), the premier resource for families managing private enterprises and family wealth across generations. For over 30 years, FOX has been recognized as the industry's most exclusive, innovative, and influential community for peer networking and learning, and has provided independent insights, expert guidance, and practical solutions to complex problems related to family transitions and family wealth.Peter has spent more than 25 years as a C-level strategist and executive across a variety of industries, including wealth management, capital markets, and technology. He is a former family office executive and FOX member, management consultant, and entrepreneur. He has served as a strategy, innovation, and growth leader for a number of private and public companies and founded two start-ups in New York City and China.Prior to joining FOX, Peter served as Chief Operating Officer of the family office of the founder of Bridgewater Associates, where he worked closely with the principal family members to envision and oversee the redesign of the family office strategy and day-to-day operations to better serve the evolving needs of the family. Peter holds an MBA from Columbia Business School and a BS in Computer Science and Engineering from Zhejiang (Ger-Zian) University in China, and is proficient in Mandarin, Russian, and Bulgarian.Before that, Peter was a management consultant at Booz Allen Hamilton, advising many of the world's top C-suite leaders, and a strategy executive at UBS, leading all growth and transformation initiatives for the bank's wealth management organization.Most recently, Peter was Chief Strategy Officer of News America Marketing, a former News Corp. subsidiary, where he built and led the Corporate Strategy and M&A function and led the company's successful carve-out and sale to a private equity sponsor. In addition, for more than 20 years, Peter has been a contributing writer and researcher with The Economist Intelligence Unit (EIU), and has led many qualitative and quantitative research projects, and written a number of influential white papers for the EIU, NBER, and other research institutions and media publications.Two Quotes From This Episode"At the end of the day, if you think about time as your most valuable asset, the ultimate capital, the ultimate equalizer for all of us is time, and complexity is the enemy of time. It just eats up time and other resources."“At FOX, we consider it a core value and a major part of our mission to help our members—and the entire industry—see around corners, especially when significant change is afoot.”Resources Mentioned in This EpisodeBook - The Fourth Turning is Here by HoweBook - Principles for Dealing with The Changing World Order by DalioBook - Thinking Fast and Slow by Kahneman About The International Leadership Association (ILA)The ILA was created in 1999 to bring together professionals interested in studying, practicing, and teaching leadership. Register for ILA's 26th Global Conference in Chicago, IL - November 7-10, 2024.Adult Development Pre-Conference SessionAbout Scott J. AllenWebsiteWeekly Newsletter: The Leader's EdgeBlogMy Approach to HostingThe v
Stock Market Update (SMU) Let's discuss and demystify the recent volatility in the stock market, NVDA earnings, Jackson Hole highlights including rate cuts, and the dreaded "R" word (recession).
I recently attended a comedy show at the Lincoln Center's "Summer in the City," where Indian comedians humorously highlighted the complexities of healthcare and health insurance. In today's episode, I'm thrilled to interview Prof. Tal Gross, co-author of Better Health Economics. During my spring semester, I took a Health Economics course that I loved, and this book was a key part of our curriculum. Prof. Gross, a full professor at BU and a research associate at the NBER, specializes in health insurance. Join us for today's episode on the intricacies of the healthcare system!Better Health EconomicsSupport the Show.
We have officially passed 100 episodes with today's guest, and it's wonderful to get to do it with my good friend, Manisha Shah. Manisha is the Chancelor's Professor of Public Policy at University of California Berkeley. Manisha is an applied microeconomist who has historically specialized in topics related to health, education, gender and labor, with a particular focus on low and middle income countries. She has research appointments at NBER, BREAD, J-PAL, IZA and is also an editor at Journal of Health Economics as well as an associate editor at Review of Economics and Statistics. And if I can for just a moment tell you a little about that work, please bear with me.First the main area of her work that I am familiar with is the part that overlaps with my own historical research agenda in sex markets. That is because Manisha is arguably the leading expert on the economics of sex markets and has been for many years. She has published on just that topic alone in many high impactful studies like the effect of both legalizing sex work (Review of Economic Studies with me) and the effect of criminalizing it (Quarterly Journal of Economics with Lisa Cameron and Jennifer Seager), the identification of compensating wage differentials for unprotected sex (Journal of Political Economy with Paul Gentler and Stefano Bertozzi) as well as a Journal of Human Resources with Raj Arunachalam on a related topic, and more. But that is just her work on sex markets. There are also her many papers related to children development, like her Journal of Political Economy examining investments in human capital and child labor supply, her work on left-handedness and child development in Demography, another paper of hers looking at parents' investments in children by their underlying ability, her AEJ: Applied looking at the impact of children's development on their mother's own labor supply, her work on sanitation and child development, and it goes on and on. There is also her work looking at people's own risk preferences and how it relates to natural disasters they have experienced. One last thing and I'll quit listing. But one of the things I admire about Manisha's research is the shoe leather involved. Her usually involves primary data collection, running randomized field experiments, working directly with stakeholders, in places like Uganda, Mexico, India, Tanzania and more. It's such a nice treat, then, to get to interview her for the 100th episode, not just because I get to share her personal story to those who only know her by reputation, but also because I count her as one of my closest friends inside and outside the profession. We worked together on a study about the legalization of sex work in Rhode Island that took around ten years from start to completion to publication. It was during a difficult time for me personally and working on that project with her meant a lot to me everyday, but more than that, working with her meant a lot to me everyday. She says in the interview that me and her similar in that we are both intense and very into our projects, and that's true. But I guess I never really noticed that about her — all I have ever seen with Manisha is someone who is unbelievably kind, unbelievably fun and funny, unbelievably down to earth, non-judgmental, approachable, disarming, insightful, and hard working. All I can is that she has never once made me feel anything other than better about myself. Being around her, being friends with her, I mean, always leaves me feeling better than I think I would feel without her, and for that I am beyond grateful for her presence in the world. Forget the profession — in the world. So with that let me introduce you to her. Scott's Substack is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Get full access to Scott's Substack at causalinf.substack.com/subscribe
Today's interviewee, Professor Chris Snyder, is a Non-Resident Senior Fellow at the Institute for Progress (IFP). He teaches economics at Dartmouth College, where he specializes in industrial organization and microeconomic theory. He is also a research associate at the NBER, treasurer of the Industrial Organization Society, and a faculty director for the University of Chicago's Market Shaping Accelerator. Chris played a pivotal role in the advance market commitment, or “AMC,” for the pneumococcal vaccine, which saved close to a million lives. What you'll learn:How did the U.S. and Russia end up in the same funding coalition? Why didn't we design an AMC for malaria? How do you place a market value on future innovations? Why would cancer and Alzheimer's be poor candidates for an AMC?Subscribe at www.statecraft.pub to get one new interview in your inbox each week. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.statecraft.pub
Découvrez le coût réel du réchauffement climatique ! Un rapport du NBER révèle que chaque degré supplémentaire pourrait réduire le PIB mondial de 12%, avec des coûts sociaux du carbone estimés à 1056 $ par tonne de CO2. Pourquoi ces chiffres sont-ils si alarmants comparés aux études précédentes ? Regardez notre vidéo pour comprendre les impacts économiques et boursiers, et ce que cela signifie pour l'avenir.
Carl Quintanilla and Leslie Picker tackle today's biggest Money Movers from the floor of the New York Stock Exchange.
Photo Credit: Tyler Follon - Wingman VisualsIn this episode of the Moral Imagination Podcast, I speak with Professor William Easterly of New York University about his work in development economics, and the problems of technocracy and social engineering of the poor. Easterly worked at the World Bank from 1985-2001 and began to be troubled by a number of things, including how aid is given without much concern about how it is distributed and managed thus subsidizing bad governance and harming the poor. We discuss Peter Bauer's critique of how foreign aid politicizes development and delayed the development of business in Africa, and Bauer's paradox of aid: * The countries that need aid — aid will not be effective* The countries where aid will be effective — do not need aid But the key problem with the dominant model of development is not simply a lack of efficiency, but the failure to respect the rights and agency of poor people. Easterly explains that development projects often result in people being deprived of their property, political rights, and participation and consent in the very projects that are supposed to help them. He discussed the tendency to to trivialize problems in the developing world, and the lack of feedback and market tests in development policy. We discuss how the developing world can often become a a lab for experiments for technocrats and social engineers. We also talk about Hayek's Knowledge Problem, a response to Marianna Mazucatto idea of moonshots, and what I call “embedded'“ economics. We discuss a number of issues including * “The Debate that Never Happened” - Gunnar Myrdal vs. Friedrich Hayek on development economics* Social Engineering * Technocracy and the Hubris of the Technocrat * Spontaneous Order* Edmund Burke and Friedrich Hayek * Soviet 5-year central planning as model for economic development * Limited Horizons of Humanitarianism— a secular, hollowed out version of Christian love the focuses on material at the expense of personal agency. * Lack of Accountability * Material vs. Non-material Needs * Materialist visions of the human person * People have a right to consent to their own progress * Harry Potter novels vs. Mosquito Nets * Marianna Mazucatto's ideas of Moonshots * vs. accidental discovery* vs opportunity costs * vs failed social engineering projects * and the complexity of economics and markets embedded in deep historical, cultural, norms, institutions, and religious foundations. * How to think about foreign aid and public goods like healthcare, infrastructure, education* Aid for emergencies vs. aid as answer to chronic poverty* Institutions of Justice including clear title to land, access to justice in the courts, ability to participate in the formal economy, and free exchange. * The impact of globalization on manufacturing in the US* Trade-offs and economic volatility * The moral rules that are needed for progress to beneficial * Consent, Self-Determination, Moral Equality * Attempts to develop Native Americans, US intervention in Philippines etc. * Material progress is never enough to justify interventionBiography William Easterly is Professor of Economics at New York University and Co-director of the NYU Development Research Institute, which won the 2009 BBVA Frontiers of Knowledge in Development Cooperation Award. He is the author of three books: The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor (March 2014), The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good (2006), which won the FA Hayek Award from the Manhattan Institute, and The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics (2001).He has published more than 60 peer-reviewed academic articles, and has written columns and reviews for the New York Times, Wall Street Journal, Financial Times, New York Review of Books, and Washington Post. He has served as Co-Editor of the Journal of Development Economics and as Director of the blog Aid Watch. He is a Research Associate of NBER, and senior fellow at the Bureau for Research and Economic Analysis of Development (BREAD). Foreign Policy Magazine named him among the Top 100 Global Public Intellectuals in 2008 and 2009, and Thomson Reuters listed him as one of Highly Cited Researchers of 2014. He is also the 11th most famous native of Bowling Green, Ohio.ResourcesEssay: Friedrich Hayek: “The Use of Knowledge in Society”Related: Podcast with Obianuju Ekeocha on Ideological Colonialism and Resisting the Cultural Annexation of Africa Uganda Farmer Story in New York TimesPoverty, Inc. Film Recommended ReadingTyranny of Experts William Easterly The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little GoodBuy on Amazon, William Easterly The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics, Easterly, William R.Target Africa: Ideological Neocolonialism in the Twenty-First Centuryby Obianuju Ekeocha Seeing Like a State, James C. Scott Peter Bauer, Equality, The Third World, and Economic DelusionAngus Deaton The Great Escape: Health, Wealth, and the Origins of Inequality Get full access to The Moral Imagination - Michael Matheson Miller at themoralimagination.substack.com/subscribe
Welcome back to the second half of my conversation with Anna Kelley. Last week, we talked about how she and her family achieved financial freedom. (If you missed it, be sure to go back and listen to that conversation.) This time, we will be diving into the current market, the economy, real estate, and what we're looking for in terms of opportunity as a recession becomes more likely. Check out the show notes for more information! P.S. Whenever you're ready, here are some other ways I can help fast track you to your Freedom goal (you're closer than you think) : 1. Schedule a Call with My Team: If you'd like to replace the earned income you need from your practice with investment income in as little as 2-3 years, and you have at least 1M in available capital (can include equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you'll have the opportunity to attend one of our upcoming member events as a guest. 2. Become a Full-Cycle Investor: There are many self-proclaimed genius investors today who think everything they touch turns to gold. But they're about to learn the hard way what others have gained through “expensive” experience. I'm offering a report on how to become a full-cycle investor, who knows how to preserve and grow capital in Up markets and Down markets. Will you be prepared when the inevitable recession hits? Get your free report here. 3. Get Your Free Retirement Scorecard: Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Click here to take the 3 minute assessment and get your scorecard.
In this episode, we explore with Dmitry Taubinsky economic approaches on regulating sin goods such as alcohol or sugary beverages. We discuss the classical approach of taxation and Dmitry compares the approach to nudging approaches. Our discussion leads us into many further economic details: From externalities and internalities, over the question who bears the tax burden to the price elasticity of demand. Dmitry explains to us, why these effects are relevant, how they relate to each other and how they also affect the optimal taxation. Dmitry Taubinsky is an associate professor of economics at UC Berkeley and a research associate at the NBER. His research interests include Behavioral Economics and Public Economics with a special focus on the intersection of both fields using a combination of theory, experiments, and surveys as methods for the analysis of his research questions. His papers referenced in the podcast on sin taxes and nudging can be found here and here.
About the Talk In this episode of the Governance podcast, our Director Mark Pennington speaks to Prof. William Easterly from New York University on liberal vs paternalist approaches to economic development policy. The Guest William Easterly is Professor of Economics at New York University and Co-director of the NYU Development Research Institute, which won the 2009 BBVA Frontiers of Knowledge in Development Cooperation Award. He is the author of three books: The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor (March 2014), The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good (2006), which won the FA Hayek Award from the Manhattan Institute, and The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics (2001). He has published more than 60 peer-reviewed academic articles, and has written columns and reviews for the New York Times, Wall Street Journal, Financial Times, New York Review of Books, and Washington Post. He has served as Co-Editor of the Journal of Development Economics and as Director of the blog Aid Watch. He is a Research Associate of NBER, and senior fellow at BREAD. Foreign Policy Magazine named him among the Top 100 Global Public Intellectuals in 2008 and 2009, and Thomson Reuters listed him as one of Highly Cited Researchers of 2014. He is also the 11th most famous native of Bowling Green, Ohio.
Ajay Singh Chaudhary talks about his new book, The Exhausted of the Earth: Politics in a Burning World. Matt Notowidigdo, co-author of a recent NBER paper, examines how recessions increase life expectancy.Behind the News, hosted by Doug Henwood, covers the worlds of economics and politics and their complex interactions, from the local to the global. Find the archive online: https://www.leftbusinessobserver.com/radio.html. Hosted on Acast. See acast.com/privacy for more information.
Everyone seems to have decided that it's the phones. That is, they've decided that heavy smartphone and social-media use is to blame for the current wave of mental illness, despair, and depression that's affecting young people - teenage girls in particular.Except… we need to ask how strong the evidence is. What do the studies actually show about what's causing the mental health crisis? And, wait - is there actually a mental health crisis to begin with? In this extra-long episode of The Studies Show (it's a big topic after all), Tom and Stuart attempt to find out.The Studies Show is brought to you by Works in Progress magazine. Do you like reading about science and technology? Do you like learning about the drivers of human progress? Then this is the magazine for you. You can find all their beautifully written and illustrated articles for free on their main website, along with some excellent shorter pieces on their Substack.Show Notes* UK MP calls for a ban on social media “and perhaps even smartphones” for under-16s; Prime Minister is considering it* Jonathan Haidt's upcoming book The Anxious Generation* His November 2023 interview with The Spectator on the “rewiring of childhood”* His big Google Doc of all the relevant studies in this area* Jean Twenge's famous Atlantic article, “Have smartphones destroyed a generation?”* Her book iGen* One of Twenge's studies, which the book is based on: n = 500,000 analysis of depression traits and “new media screen time”* Amy Orben's critique* Flurry of articles by well-respected writers in 2023 expressing some degree of confidence that “it's the phones”: John Burn-Murdoch; Noah Smith; Matt Yglesias (though he's more interested in other reasons)* Haidt's 2023 article arguing we can now say it's a cause, not just a correlation - and “a major cause” at that* Evidence that the US suicide rate is increasing* Evidence that the suicide rate in other countries is not increasing: Norway, Sweden, Denmark; the UK - see below for the heatmap of age-group vs. year and suicide rate for the UK:* 2023 NBER paper cautioning that some of the rise in the US suicide rate might be due to measurement differences* Chris Ferguson et al.'s 2021 meta-analysis that concludes there's a lack of evidence to suggest that screen time affects mental health* Przybylski & Vuorre's 2023 paper - across 168 countries, internet connectivity is correlated with better wellbeing* Orben & Przybylski's 2019 “specfication curve” paper (the “potatoes” one) * Twenge & Haidt's own specification curve paper suggesting social media use is a stronger predictor of poor wellbeing than is hard drug use* Stuart's article for the i going into detail on some of the causal studies of phones/social media and mental health* Dean Eckles criticising the “Facebook arrives at universities” studyCredits & AcknowledgementsThe Studies Show is produced by Julian Mayers at Yada Yada Productions. We're grateful to Chris Ferguson and Andy Przybylski for talking to us about their research. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.thestudiesshowpod.com/subscribe
My guest today is Scott Fulford, a senior economist at the Consumer Financial Protection Bureau where he led the development of the Making Ends Meet Survey. He has represented the U.S. at the OECD, and he regularly speaks at the Federal Reserve Board, Federal Reserve banks, the OCC, the Financial Stability Oversight Council, the FDIC, the NBER, and universities. The topic is his book The Pandemic Paradox: How the COVID Crisis Made Americans More Financially Secure. In this episode of Trend Following Radio we discuss: Economic growth and decline during the pandemic Government intervention and financial support Inflation and its causes Potential economic bubble Counterfactuals in pandemic response Impact on stock market and employment The potential for a better, fairer and more productive economy Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!
My guest today is Scott Fulford, a senior economist at the Consumer Financial Protection Bureau where he led the development of the Making Ends Meet Survey. He has represented the U.S. at the OECD, and he regularly speaks at the Federal Reserve Board, Federal Reserve banks, the OCC, the Financial Stability Oversight Council, the FDIC, the NBER, and universities. The topic is his book The Pandemic Paradox: How the COVID Crisis Made Americans More Financially Secure. In this episode of Trend Following Radio we discuss: Economic growth and decline during the pandemic Government intervention and financial support Inflation and its causes Potential economic bubble Counterfactuals in pandemic response Impact on stock market and employment The potential for a better, fairer and more productive economy Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!
Welcome to the Mixtape with Scott! This week is a blast. I'm talking this week Dr. Marianne Wanamaker, professor of economics at the University of Tennessee Knoxville and the new dean at the Howard H. Baker Jr. Center for Public Policy. Marianne has had a spectacular run since graduating from Northwestern in 2009: NBER, IZA, a stint in the White House (former chief domestic economist at Council of Economic Advisors and senior labor economist), a ton of other stuff. She's an economic historian by training, a specialist in American economic history specifically and demography, and won the 2019 Kenneth J. Arrow award (with Marcella Alsan) for a paper published in the Quarterly Journal of Economics on the lasting impacts of the Tuskegee Syphilis Experiment on trust in the healthcare system among African-Americans. She is a brilliant and creative young economist, an excellent instructor, and a mix of entrepreneur and civil servant. I had a great time in this interview getting to know her better, and hope you are inspired to hear her story like I was. And as always, thank you for your support of the show! Scott's Substack is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Get full access to Scott's Substack at causalinf.substack.com/subscribe
Legacy admissions, particularly at elite colleges and universities, were thrust into the spotlight this summer when the U.S. Supreme Court effectively ended affirmative action in admissions. The ruling raised many questions, and fortunately, Harvard Kennedy School professor David Deming and Harvard Economics Professor Raj Chetty were there with some important answers—having just wrapped up a 6-year study of the impact of legacy admissions at so-called “Ivy-plus” schools. Students spend years preparing to face judgment by colleges and universities as a worthy potential applicant. They strive for report cards filled with A's in advanced placement courses. They volunteer for service projects and participate in extracurricular activities. They cram furiously high-stakes standardized tests. They do all that only to find a big question many top colleges have is effectively: “Who's your daddy? And who's your mother? Did they go to school here?” Using data from more than 400 colleges and universities and about three and a half million undergraduate students per year, the two economists found that legacy and other elite school admissions practices significantly favor students from wealthy families and serve a gate-keeping function to positions of power and prestige in society. Read Chetty and Deming's paper (co-authored by John Friedman): Diversifying Society's Leaders? The Determinants and Causal Effects of College Admissions David Deming's Policy Recommendations:Build a robust system of collecting and measuring the distribution of income for admitted students at colleges across the country.Make standardized data in student income distribution transparent and widely available to facilitate better educational policy decisionmaking.Raj Chetty's Policy Recommendations:Rework legacy admissions and other practices at elite colleges to reduce bias in favor of students from high-income familiesImprove access for low- and middle-income students to a broader array of private, public, and community colleges as a means to promote economic mobilityRaj Chetty is the William A. Ackman Professor of Public Economics at Harvard University. He is also the director of Opportunity Insights, which uses “big data” to understand how we can give children from disadvantaged backgrounds better chances of succeeding. Chetty's research combines empirical evidence and economic theory to help design more effective government policies. His work on topics ranging from tax policy and unemployment insurance to education and affordable housing has been widely cited in academia, media outlets, and Congressional testimony. Chetty received his Ph.D. from Harvard University in 2003 and is one of the youngest tenured professors in Harvard's history. Before joining the faculty at Harvard, he was a professor at UC-Berkeley and Stanford University. Chetty has received numerous awards for his research, including a MacArthur "Genius" Fellowship and the John Bates Clark medal, given to the economist under 40 whose work is judged to have made the most significant contribution to the field.David Deming is the Isabelle and Scott Black Professor of Political Economy and the academic dean of the Harvard Kennedy School. He is also the faculty dean of Kirkland House at Harvard College and a research associate at NBER. His research focuses on higher education, economic inequality, skills, technology, and the future of the labor market. He is a principal investigator (along with Raj Chetty and John Friedman) at the CLIMB Initiative, an organization that seeks to study and improve the role of higher education in social mobility. He is also a faculty lead of the Project on Workforce, a cross-Harvard initiative that focuses on building better pathways to economic mobility through the school-to-work transition. He recently co-founded (with Ben Weidmann) the Skills Lab, which creates performance-based measures of “soft” skills such as teamwork and decision-making. In 2022 he won the Sherwin Rosen Prize for outstanding contributions to Labor Economics. In 2018 he was awarded the David N. Kershaw Prize for distinguished contributions to the field of public policy and management under the age of 40. He served as a Coeditor of the AEJ: Applied from 2018 to 2021. He also writes occasional columns for the New York Times Economic View, which you can find linked on his personal website. 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 AB in Political Science from UCLA and an MS in Journalism from Columbia University.
In this episode of On Investing, hosts Liz Ann Sonders and Kathy Jones recap the previous week and dig into a list of frequently asked questions from investors. They cover questions such as "What's the next move for the Fed?" and "Is a recession coming or not?" among others.Kathy and Liz Ann also give an update on what they are keeping an eye on next week in the markets.Liz Ann Sonders is Schwab's chief investment strategist. She's regularly quoted in financial publications including The Wall Street Journal, The New York Times, Barron's, and the Financial Times.She also appears as a regular guest on CNBC, Bloomberg, CNN, Yahoo! Finance, and Fox Business News. Liz Ann has been named "Best Market Strategist" by Kiplinger's Personal Finance and one of SmartMoney magazine's "Power 30." Barron's has named her to its "100 Most Influential Women in Finance" list, and Investment Advisor has included her on the "IA 25," its list of the 25 most important people in and around the financial advisory profession.Kathy is Schwab's chief fixed income strategist. She is a regular guest on CNBC, Yahoo Finance, Bloomberg TV, and many other networks and is often quoted by The Wall Street Journal, The New York Times, Financial Times, and Reuters. Kathy has been an analyst of global credit markets throughout her career, working with both institutional and retail clients.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThe comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Data contained herein from third party providers is obtained from what are considered reliable source. However, its accuracy, completeness or reliability cannot be guaranteed and Charles Schwab & Co. expressly disclaims any liability, including incidental or consequential damages, arising from errors or omissions in this publication.All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.Diversification strategies do not ensure a profit and do not protect against losses in markets.Tax-exempt bonds are not necessarily a suitable investment for all persons. Information related to a security's tax-exempt status (federal and in-state) is obtained from third parties, and does not guarantee its accuracy. Tax-exempt income may be subject to the Alternative Minimum Tax (AMT). Capital appreciation from bond funds and discounted bonds may be subject to state or local taxes. Capital gains are not exempt from federal income tax.Investing involves risk, including loss of principal.Currencies are speculative, very volatile and are not suitable for all investors.Small cap investments are subject to greater volatility than those in other asset categories.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please seeSchwab.com/IndexDefinitions. S&P 500 Pure Growth is a style-concentrated index designed to track the performance of stocks that exhibit the strongest growth characteristics by using a style-attractiveness-weighting scheme.S&P 500 Pure Value is a style-concentrated index designed to track the performance of stocks that exhibit the strongest value characteristics by using a style-attractiveness-weighting scheme.NBER is the National Bureau of Economic Research, an American private nonprofit research organization. https://www.nber.org/Apple, the Apple logo, iPad, iPhone, and Apple Podcasts are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB.(1123-38GX)
The Paul and Jean Hanna Senior Fellow at the Hoover Institution of Stanford University, Eric Hanushek, joins Paul E. Peterson to discuss the the Accelerating Campus Excellence program and efforts to attract and retain effective teachers. "Attracting and Retaining Highly Effective Educators in Hard-to-Staff Schools," co-written with Andrew J. Morgan, Minh Nguyen, Ben Ost and Steven G. Rivkin, is available now from NBER. https://www.nber.org/papers/w31051
EPISODE 1769: In this repeat of a KEEN ON show from December 2021, Andrew talks to Claudia Goldin, winner of the 2023 Nobel Prize for Economics, about women's journey to close the gender gapClaudia Goldin is the Henry Lee Professor of Economics at Harvard University and was the director of the NBER's Development of the American Economy program from 1989 to 2017. She is a co-director of the NBER's Gender in the Economy group. An economic historian and a labor economist, Goldin's research covers a wide range of topics, including the female labor force, the gender gap in earnings, income inequality, technological change, education, and immigration. Most of her research interprets the present through the lens of the past and explores the origins of current issues of concern. Her most recent book is Career & Family: Women's Century-Long Journey toward Equity (Princeton University Press, 2021).. She is the author and editor of several books, among them Understanding the Gender Gap: An Economic History of American Women (Oxford 1990), The Regulated Economy: A Historical Approach to Political Economy (with G. Libecap; University of Chicago Press 1994), The Defining Moment: The Great Depression and the American Economy in the Twentieth Century (with M. Bordo and E. White; University of Chicago Press 1998), Corruption and Reform: Lesson's from America's Economic History (with E. Glaeser; Chicago 2006), and Women Working Longer: Increased Employment at Older Ages (with L. Katz; Chicago 2018). Her book The Race between Education and Technology (with L. Katz; Belknap Press, 2008, 2010) was the winner of the 2008 R.R. Hawkins Award for the most outstanding scholarly work in all disciplines of the arts and sciences.Named as one of the "100 most connected men" by GQ magazine, Andrew Keen is amongst the world's best known broadcasters and commentators. In addition to presenting KEEN ON, he is the host of the long-running How To Fix Democracy show. He is also the author of four prescient books about digital technology: CULT OF THE AMATEUR, DIGITAL VERTIGO, THE INTERNET IS NOT THE ANSWER and HOW TO FIX THE FUTURE. Andrew lives in San Francisco, is married to Cassandra Knight, Google's VP of Litigation & Discovery, and has two grown children.
A new NBER paper by Barbara Fraumeni sheds light on how culture mediates gender gaps in education and employment. https://www.nber.org/papers/w31535 My Substack: https://draliceevans.substack.com/p/culture-and-job-in-asia
#recession #deflation #inflation #retailsales #industrial #consumer US Industrial Production fell for the second month in a row, dropping the Fed's index below the same period a year ago. A negative yearly change in IP has accompanied all 18 of the economic contractions in the NBER's library. Only six times in over a century has IP been negative on an annual basis without any full-scale recession. Eurodollar University's Money & Macro AnalysisBloomberg: Stocks Climb After Yellen Eases Recession Fears: Markets Wraphttps://www.bloomberg.com/news/articles/2023-07-16/asia-stocks-to-struggle-as-inflation-doubts-linger-markets-wrapBloomberg: US Industrial Production Decreased in June for a Second Monthhttps://www.bloomberg.com/news/articles/2023-07-18/us-industrial-production-fell-in-june-for-a-second-monthTwitter: https://twitter.com/JeffSnider_AIPhttps://www.eurodollar.universityhttps://www.marketsinsiderpro.comhttps://www.PortfolioShield.netRealClearMarkets Essays: https://bit.ly/38tL5a7THE EPISODESYouTube: https://bit.ly/310yisLVurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MReason: https://bit.ly/3lt5NiHSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39XjrPodcastRepublic:https://bit.ly/3LH8JlVDISCLOSURESJeffrey Snider (The Promoter) is acting as a promoter for an investment advisory firm, Atlas Financial Advisors, Inc. (AFA). Jeffrey Snider is affiliated with AFA as a promoter only and is not in any way giving investment advice or recommendations on behalf of AFA. The Promoter is being compensated by a fee arrangement: The Promoter will receive compensation on a quarterly basis, based on the increase in account openings that can be reasonably attributed to the Promoter's activity. The Promoter will not be receiving a portion of any advisory fees. The Promoter has an incentive to recommend the Adviser because the Promoter is being compensated. The opinions expressed on this site and in these videos are those solely of Jeffrey Snider and Eurodollar University and do not represent those of AFA.
Jesus Fernandez-Villaverde is a professor of economics at the University of Pennsylvania and is the co-director of the Business, Economic, and Financial History Project at the Wharton School of Business. Jesus is also a returning guest to the podcast, and he rejoins Macro Musings to talk about recent macroeconomic developments, the demographic issues facing the world, and AI's implications for economic growth. Specifically, David and Jesus also discuss whether we needed the fiscal and monetary stimulus of 2021, the European inflation story, South Korea as a case study for global demographic trends, how quantum computing will may impact macroeconomics in the future, and more. Transcript for this week's episode. Jesus's UPenn profile Jesus's NBER archive David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Join the Macro Musings mailing list! Check out our new Macro Musings merch! Related Links: *The Demographic Future of Humanity: The Trends* by Jesus Fernandez-Villaverde *The Demographic Future of Humanity: Economic Challenge* by Jesus Fernandez-Villaverde *The Demographic Future of Humanity: Social Change* by Jesus Fernandez-Villaverde *Dynamic Programming on a Quantum Annealer: Solving the RBC Model* by Jesus Fernandez-Villaverde and Isaiah Hull
Have economists predicted and prevented past recessions? Barely anyone is talking about a recession now. But just a couple of months ago, it was front-page and prime-time news. And here is an excerpt from a June 4th WSJ article: “Economists surveyed by The Wall Street Journal in April put the probability of a recession at some point in the next 12 months above 50%. But they have said that since October, and the recession appears no closer.” So, in other words, no one really knows, not even the experts. To better understand the history of America's recessions their frequencies, intensities and durations, and our attempts to predict and prevent them, I spoke with Dr. Price Fishback, an APS professor of economics at Eller College of Management in the University of Arizona. Dr. Fishback is also a research affiliate at the Centre for Economic History at Australian National University, a CAGE Fellow at Warwick University, a program scholar for the Hoover Program on Regulation and the Rule of Law, a fellow at the TIAA-CREF Institute and a research associate at the National Bureau of Economic Research, which most of us know as NBER. He is the author of many peer-reviewed publications and books including Government and the American Economy: A New History. To learn more about Dr. Fishback, you can visit his academic homepage, the link for which is provided in the detailed caption of this episode. Also, you should definitely listen to my prior conversation with Dr. Fishback about the history of housing bubbles. Actually, he doesn't like the word 'bubble'. So we discussed the booms and busts. This is a fascinating history that includes the added interesting story of the home mortgage industry worked decades ago (think 5-year terms with huge balloon payments). Click here for that episode: https://bit.ly/HBN-S2E32 I hope you enjoy these episodes. Adel Host of the History Behind News podcast Watch my guests & I on YouTube SUPPORT: Click here and join our other supporters in the news peeler community. Thank you.
While markets are calm after the debt ceiling resolution, disruptors persist. Liz Ann Sonders, Kathy Jones, and Jeff Kleintop join host Mike Townsend to discuss some of the key issues that could roil the markets throughout the second half of 2023. Liz Ann, Schwab's chief investment strategist, discusses how the debt ceiling deal is good for the markets in the near term, but rising debt poses worries in the future. She also shares her thoughts on whether the market's upward trajectory is sustainable. Then Kathy, Schwab's chief fixed income strategist, offers her perspective on the bond market, concerns at the credit rating agencies about the U.S. debt load, and the Fed's decision this week to pause its 16-month run of interest rate hikes. Finally, Jeff, Schwab's chief global investment strategist, discusses the implications for international investors of Europe's debt issues and the European recession, plus how the ongoing U.S.-China tensions could affect emerging-market investors. And Mike breaks down the final debt ceiling bill to focus on what it does and does not accomplish and the work left for Washington to address.WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit Schwab.com/WashingtonWise.If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts. Important DisclosuresThe policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Investing involves risk, including loss of principal.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.Money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.The National Bureau of Economic Research (NBER) is an American private non profit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is known for providing start and end dates for recessions in the United States.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions. (0623-3PUP)
If you compare executive pay of men and women in C suite jobs, you will often not find a discrepancy in their wages. You will also be completely missing the point. The gender pay gap exists because it is more difficult for women to reach executive level success. Throughout their career progression, but particularly early on, women face more discrimination than men, and so fewer women are ultimately promoted to the highest level of an organization. Gender discrimination is one of the recent topics covered by Alex Imas PhD, in his research. Alex is a behavioral economist with a focus on dynamic decision-making. His research explores topics related to choice under uncertainty, discrimination, mental representation, and how people learn from information. Most recently, Alex has been the recipient of the 2023 Alfred P. Sloan Research Fellowship which seeks to stimulate fundamental research by early-career scientists and scholars of outstanding promise. Alex's work on discrimination in the workplace sheds vital light on the cause of the problem which isn't just found within the hiring process. But before Kurt and Tim discuss this topic with Alex, the conversation kicks off with the fascinating findings that have fed off Robert Cialdini's founding work - that scarcity drives consumer demand. It was back in episode 71, that Alex was originally a guest on Behavioral Grooves. And Tim was more than happy to rekindle the initial musical discussion around Tom Waits and Bob Dylan. But Alex also delights us with how the pandemic altered his listening behavior and opened him up to some new favorite bands. Topics (4:59) Welcome and speed round questions. (7:!8) How exclusivity can drive demand. (14:56) Access desire is the key to driving demand. (16:50) What are Alex's plans with being awarded the Sloan Fellowship? (21:41) Integrating behavioral science into the workplace. (26:17) The latest research on gender discrimination in the workplace. (32:11) Why looking at salaries for men and women doing the same job is not enough. (36:20) How algorithms can exacerbate and scale biases. (40:20) How Tom Waits' music has inspired Alex to explore new areas of creativity. (47:38) Grooving Session with Kurt and Tim on discrimination. © 2023 Behavioral Grooves Links Alex Imas: http://www.aleximas.com/ NBER: https://www.nber.org/ Episode 355, Want Marketing That's Effective? Use a Behavioral Science Perspective | Nancy Harhut: https://behavioralgrooves.com/episode/marketing-using-behavioral-science/ Episode 71, Alex Imas: Clawback Incentives and Tom Waits: https://behavioralgrooves.com/episode/alex-imas-clawback-incentives-and-tom-waits/ Alex Imas & Kristóf Madarász (2022) “Superiority-Seeking and the Preference for Exclusion”: https://www.nber.org/papers/w30334 Episode 226, The Power of Unity: Robert Cialdini Expands His Best Selling Book Influence: https://behavioralgrooves.com/episode/cialdini-unity-in-influence/ Benjamin Handel: https://www.benjaminhandel.com/ Imas, J. A. Bohren and M. Rosenberg (2019) "The Dynamics of Discrimination: Theory and Evidence," American Economic Review: https://static1.squarespace.com/static/57967bc7cd0f68048126361d/t/5cdf2d4c7d1b310001d046fc/1558129997622/BohrenImasRosenberg_DynamicsDiscrimination_January2019.pdf Episode 293, Women Do Too Much Non-Promotable Work: How To Say No More with Linda Babcock: https://behavioralgrooves.com/episode/women-do-too-much/ Episode 204, How Shellye Archambeau Flies Like an Eagle: https://behavioralgrooves.com/episode/shellye-archambeau-like-an-eagle/ Musical Links Tom Waits “Downtown Train”: https://www.youtube.com/watch?v=rLtZKkCIVmI Bob Dylan “My Back Pages”: https://www.youtube.com/watch?v=92cF_KCH7TU Bob Dylan “Johanna”: https://www.youtube.com/watch?v=AwuCF5lYqEE Yeah, Yeah, Yeahs “Way Out”: https://www.youtube.com/watch?v=Jh3DXuNH9A0 The Strokes “Last Nite”: https://www.youtube.com/watch?v=TOypSnKFHrE The Vines “Get Free”: https://www.youtube.com/watch?v=asOvnGHwtDU The White Stripes “Seven Nation Army”: https://www.youtube.com/watch?v=0J2QdDbelmY Fontaines D.C. “Jackie Down The Line”: https://www.youtube.com/watch?v=3AoOfJP3r40 Bright Eyes “First Day of My Life”: https://www.youtube.com/watch?v=xUBYzpCNQ1I
Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: Is CBT effective for poor households? Two recent papers (evaluated by The Unjournal) with contrasting results, published by david reinstein on April 17, 2023 on The Effective Altruism Forum. (Second link: Barker et al) Two more Unjournal Evaluation sets are out. Both papers consider randomized controlled trials (RCTs) involving cognitive behavioral therapy (CBT) for low-income households in two African countries (Kenya and Ghana). These papers come to very different conclusions as to the efficacy of this intervention. These are part of Unjournal's 'direct NBER evaluation' stream. 1. Barker et al, 2022 “Cognitive Behavioral Therapy among Ghana's Rural Poor Is Effective Regardless of Baseline Mental Distress” [1] From anonymous evaluator 1: This paper uses a field experiment to explore the impact of a 12-week CBT program among poor households in rural Ghana. The authors find that the CBT program increases mental and physical well-being, as well as cognitive and socioemotional skills and downstream economic outcomes. 2. Haushofer et al, 2020 The Comparative Impact of Cash Transfers and a Psychotherapy Program on Psychological and Economic Well-being, Johannes Haushofer, Robert Mudida and Jeremy P. Shapiro. 2020. Originally published as NBER Working Paper 28106 Evaluation summary, linking to individual evaluations from Hannah Metzler and an anonymous evaluator From anonymous evaluator 2: This paper studies the economic and psychological effects of providing two different interventions to low-income households in rural Kenya: a program in Cognitive Behavioral Therapy (CBT, a well-established form of psychotherapy) and an unconditional cash transfer. The authors use a randomized controlled trial with a 2-by-2 design to estimate the effect of each intervention alone and of both interventions combined. ... Strikingly, the authors find no effect of the therapy program on any of their primary economic or psychological outcomes. /.. Unsurprisingly given the null effect of therapy, the combination of cash and therapy has similar effects to cash alone. Thoughts The evaluations of both papers are largely positive, and both appear credible. I hope that this open evaluation of each paper is a helpful input into a more direct comparison of these, as well as possible integration into a larger meta-analysis.[2] Thanks Thanks to the four evaluators of these papers, who did strong and in-depth work, as well as to the evaluation managers (Hansika Kapoor and Anirudh Tagat), and others on the Unjournal team (especially Annabel Rayner and Gavin Taylor). Thanks for listening. To help us out with The Nonlinear Library or to learn more, please visit nonlinear.org.
Founders Fund was fingered in the days after Silicon Valley Bank's collapse as a possible accelerant for the failure. General Partner Keith Rabois talks why that wasn't the case, why TikTok should be banned in the US and why researchers should not pause AI experimentation. Meanwhile stocks closed near session highs as the averages shook off Tuesday's declines. Axonic Director of Research Peter Cecchini talked the market action and Loop Capital's Anthony Chukumba gave instant reaction to RH's earnings. Jon Fortt walks through why Intel had its best day since November and NBER Director Charles Dallara talks calls for more banking regulation. Our Kate Rogers reports on former Starbucks CEO Howard Schultz time in front of Congress today and Meg Tirrell analyzes the lack of generic drugs on the market. Plus, Macquarie's Tim Nollen on Q2 opportunities in the communication services sector.
Surprise! Cara and Derek interrupt the regularly-scheduled flow of episodes to talk with one another about the themes or through-lines that are emerging across the conversations that have been hosted on the podcast so far, think through some of the questions we got from our friends and colleagues at the PES conference, and reflect on the field of philosophy of education as a whole. Also, Derek says some potentially mean things about educational research sometimes being conducted "thoughtlessly." As luck would have it, this NBER working paper on the cumulative effects of teacher evaluation policies 2010-2023 just dropped. What was the impact of these massive reforms on the outcomes of interest? "No effect." Why not? Among other reasons, the authors say, reformers forgot to enlist the support of key stakeholders -- I.e. researchers' models left out a really crucial piece of the puzzle as their findings predicted big gains. If that's not thoughtless, it's certainly not thoughtful, is all I'm saying. For the transcript of this episode, click here.
This Week: A fascinating new paper from NBER analyzing the correlation between the rise of teen suicides and school being in session gives us an important moment of cognitive dissonance, and a chance to rethink the impact schools have on students. And, we say deuces to one Serranus Hastings -- the formerly named “UC Hastings” Law School dumps it's colonizer namesake after his history of rape and plunder is revealed. Of course, a group of his descendants, and some colonizer alumni are decrying “cancel culture” while fighting the change, and suing the state for a preposterous $1.7B. Get your All of the Above swag, including your own “Teach the Truth” shirt! In this moment of relentless attacks on teaching truth in the classroom, we got you covered. https://all-of-the-above-store.creator-spring.com Passing Period is an AOTA podcast extra that gives us a chance to check-in, reflect, and discuss powerful stories in between our full episodes. Watch, listen and subscribe to make sure you don't miss our latest content! Website: https://AOTAshow.com Stream all of our content at: linktr.ee/AOTA Watch at: YouTube.com/AlloftheAbove Listen at: apple.co/38QV7Bd and anchor.fm/AOTA Follow us at: Facebook.com/AOTAshow and Twitter.com/AOTAshow --- Send in a voice message: https://anchor.fm/aota/message Support this podcast: https://anchor.fm/aota/support
Historically and into the present day, female workers overall make less than men. Looking at college-educated women in the United States, Harvard University economic historian Claudia Goldin studies the origins, causes and persistence of that gap, which she discusses in this Social Science Bites podcast. Goldin, whose most recent book is Career & Family: Women's Century-Long Journey toward Equity, details for host David Edmonds how the figures she uses are determined. Specifically, it's the ratio of female-to-male weekly earnings for those working full-time and year-round, with the median woman compared to the median man. “Expressed in this way, there has been real progress” in the last century, she says. Today in the United States, where Goldin's studies occur, that number is below 85 cents on the dollar. While that trend is good news, it's not the whole story. “By expressing this gap in this single number we miss the really, really important dynamics, and that is that the gender earnings pay gap widens a lot with age and it widens a lot with [having] children, and it widens in the corporate, banking and finance, and law sectors.” And while the gap may have narrowed, it shows no evidence it's about to close. Acknowledging the “persistent frustration” about the pay gap's durability, Goldin pointed a finger at structural inequities, bias and sexual harassment, but she also argues that “greedy work” was a major factor. Greedy work “is a job that pays a disproportionately more on a per hour basis when someone works a greater number of hours or has less control over those hours.” Hence, the gap persists “not so much [because] men and women go into completely different occupations,” she explains, but that women are financially “penalized” for choosing work that allows flexibility within that occupation. “The important point,” she adds, “is that both lose. Men are able to have the family and step up because women step back in terms of their jobs, but both are deprived. Men forgo time with their family and women often forgo their career.” But losers can win – eventually. The more that workers say to their supervisors that “we want our own time” the more the labor market will change, she explains by pointing to current trends. One caveat, though, is that the situation is worse among women without college educations. Goldin is the Henry Lee Professor of Economics at Harvard University and was the director of the National Bureau of Economic Research's Development of the American Economy program from 1989 to 2017. She is a co-director of the NBER's Gender in the Economy group. She was president of the American Economic Association in 2013 and was president of the Economic History Association in 1999/2000. She is a member of the National Academy of Sciences and the American Philosophical Society and a fellow of the American Academy of Political and Social Science, the American Academy of Arts and Sciences, the Society of Labor Economists (which awarded her its Mincer Prize for life-time contributions in 2009), the Econometric Society, and the Cliometric Society. She received the IZA Prize in Labor Economics in 2016, the 2019 BBVA Frontiers in Knowledge award, and the 2020 Nemmers award, the latter two both in economics.
Record inflation, another wake-up call out of Beijing, a new prime minister in the UK, overhang of supply chain shocks and massive fiscal and monetary stimulus from the pandemic, all against the backdrop of the Russia-Ukraine war, which shows no signs of abating. What are the economic implications of all this? What should Central Banks be doing? Dr. Mohamed El-Erian returns to the podcast. He is President of Queens' College at Cambridge University. Mohamed serves as part-time Chief Economic Advisor at Allianz and Chair of Gramercy Fund Management. He's a Professor at The Wharton School, he is a Financial Times contributing editor, Bloomberg Opinion columnist, and the author of two New York Times best sellers. He serves on several non-profit boards, including the NBER, and those of Barclays and Under Armour. From 2007-2014, Mohamed served as CEO/co-CIO of PIMCO. He worked at PIMCO for a total of fourteen years, and was chair of President Obama's Global Development Council. Mohamed also served two years as president and CEO of Harvard Management Company, the entity that manages Harvard's endowment. He has been chair of the Microsoft Investment Advisory Board since 2007.
Andrew Levin is a professor of economics at Dartmouth College and a former long-time Fed official. Andy is also a previous guest of Macro Musings and rejoins the podcast to talk about the costs and benefits of the Fed's QE4 program. David and Andy also discuss the Fed's recent record on inflation, QE4's impact on market functioning, the present and future of the Fed's balance sheet, and more. Transcript for the episode can be found here. Andrew's Dartmouth profile Andrew's NBER archive David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Click here for the latest Macro Musings episodes sent straight to your inbox! Related Links: *Quantifying the Costs and Benefits of Quantitative Easing* by Andrew Levin, Brian Lu, and William Nelson *Incorporating Scenario Analysis into the Federal Reserve's Policy Strategy and Communications* by Michael Bordo, Andrew Levin, and Mickey Levy *What if the Federal Reserve Books Losses Because of its Quantitative Easing?* by William English and Donald Kohn
“Religion is the sigh of the oppressed creature,” wrote Karl Marx, “…the opium of the people.” Decades of often painful historical experience has proven his observation both right and wrong. Believing in God does ease pain and suffering of faithful followers, but he was wrong in thinking that religion, especially Christianity, leaves them with nowhere else to go from there. A recent article in The Economist put it this way: “Religious belief really does seem to draw the sting of poverty.” Although there is a correlation between poverty and decreased mental health, the article highlighted German sociologist Dr. Jana Berkessel's recent findings that religion significantly mitigates this effect. A variety of similar studies confirm this. Regular attendance at religious services consistently correlates with longer life spans, stronger immune systems, and lower blood pressure, as well as decreased anxiety, depression, and suicide. Kids raised in religious households have a lower incidence of drug addiction, delinquency, and incarceration. They're more likely to graduate high school. In short, the nearly unanimous scientific consensus is that religious belief is good for you. Of course, Marx's point was that these benefits only serve to keep people content in their chains and to keep them distracted so much by the next world that they do nothing to change this one. Many critics today take the critique even further. Religion, especially Christianity, has not only been used to pacify people in their oppression but is the very source of it. Of course, the charge that Christianity has been co-opted, corrupted, and weaponized to justify all kinds of abuse, conquest, and enslavement, is undeniable. At the same time, it's also undeniable that Christianity has been a global force for the kinds of goods now so pervasive, it's hard to even imagine the world without them. Many of the rights and principles we consider to be naturally occurring features of the world only came to be by the influence of Christianity. In the ancient pagan world, violence, rape, infant exposure, and prostitution were rules, not exceptions. Almost immediately, Christianity began to revolutionize pagan ethics, particularly in its view of the poor and the outcast. Roman Emperor Julian famously wrote that when the “impious Galileans support not only their poor, but ours as well, all men see that our people lack aid from us.” To a world with no reason to believe in the equality of all people, Christianity taught that “there is no Gentile or Jew, circumcised or uncircumcised, barbarian, Scythian, slave, or free, but Christ is all, and is in all.” This belief was grounded in the Christian view of the human person, which had no parallel in the ancient world and which created an explosion of literacy, social mobility, and human rights that we now take for granted in the modern world. Christianity's unique contributions in humanizing the modern world are yet another reason to not simply lump all “religious beliefs” into the one blanket category. All religions are simply not the same, not in substance nor impact. Economist Robin Grier, for example, conducted a cross-national survey of 63 formerly European colonies. She found that, across the board, Protestant Christianity, in particular, was “positively and significantly correlated with real GDP growth,” and that “the level of Protestantism is significantly related to real per capita income levels.” A National Bureau of Economic Research (NBER) paper found that only certain religious beliefs—notably beliefs about heaven, hell, and an afterlife—are linked with economic growth. In other words, it's not just about having a “religion,” but about what your religion teaches. Consider Africa. A recent paper from NBER analyzed educational outcomes among religious children. Though Africa is becoming increasingly religious across the board, the paper found that in many countries, “primary school completion for Christians was more than double that of Muslims or Africans adhering to local religions.” Christian communities far outpace others when it comes to intergenerational educational growth. Writing in 1843, Karl Marx couldn't have anticipated how thoroughly science would analyze his claims about religion. He'd likely have been among the modern theorists surprised that the world is becoming more religious, not less. As one writer with The Brookings Institution put it, “While weak state structures collapse and aid agencies switch priorities, one group of actors persist against all odds: religious institutions.” Of course, this isn't why anyone should believe the truth claims of Christianity. They should be believed if they are true. At the same time, the fact that Christian belief has been an educational, social, and economic ladder for millions suggests these beliefs ought to be taken seriously.
Is the economy healthy or unhealthy? We've had two consecutive quarters of GDP contraction. High inflation and supply problems persist. On the other hand, we have a strong jobs market, low unemployment, and high rent increases. Ultimately, the NBER decides whether or not we're in a recession. Today's guest, Wealthability, tells us why he thinks we're in a recession. I share with you the exact rent increase numbers I've had on my rental single-family homes. Historically, a recession occurs every five years, on average. Whether we're there yet or not, I believe there's a likelihood of a recession soon. Tom thinks whether or not a recession is declared is important; it affects consumer sentiment. He breaks down the new “Inflation Reduction Act”. It does not appear to help reduce inflation. Rather, it appears that it will: increase union wages, enact climate change policy, add taxes to pharmaceuticals, hurt small business, and increase IRS enforcement. “People who have never seen an IRS audit will see IRS audits.” -Tom Wheelwright Resources mentioned: Show Notes: www.GetRichEducation.com/410 Get started on lowering your taxes with Tom Wheelwright: GetRichEducation.com/Tax All U.S. Employed Persons: https://fred.stlouisfed.org/series/PAYEMS 30-Year Mortgage Rate History (gray bars are recessions): https://fred.stlouisfed.org/series/MORTGAGE30US Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE or e-mail: info@RidgeLendingGroup.com JWB's available Florida income property: www.jwbrealestate.com/gre or (904) 677-6777 To learn more about eQRPs: text “GRE” to 307-213-3475 or: eQRP.co Available Central Florida new-build income properties: www.b2rdirect.com Analyze your RE portfolio at: (use code “GRE”): MyPropertyStats.com Best Financial Education: GetRichEducation.com Get our free, wealth-building “Don't Quit Your Daydream Letter”: www.GetRichEducation.com/Letter Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold
This is Garrison Hardie with your CrossPolitic Daily News Brief for Wednesday, August 3rd, 2022. Today we’ve got drama overseas, as Nancy Pelosi defies China’s warnings, in her visit to Taiwan… Then close to home, the DOJ sues Idaho over law imposing a ‘near total ban on abortion’... this and more on this news brief…. But first: Dropwave Do you have a podcast, or thinking about starting one? Does your church have a podcast feed for sermons? The Dropwave.io is for you. Cancel culture is like walking on a thin glass bridge over the Grand Canyon. Every step you take could get you killed, I mean canceled. Since the beginning CrossPolitic has been working on being antifragile, so no matter what happens, our content can still be delivered to your tv and to your podcast. This past year, the Waterboy and his friend Jeremi, have been working on building a podcast hosting solution for rowdy platforms like CrossPolitic, so that you can be confident your podcast will never fall through that glass bridge. Dropwave offers seamless onboarding for shows that have been around for years to easy to use solutions for starting your own podcast. Dropwave will track all your show’s downloads by city, state, and country, and it offers network and enterprise packages for solutions like the Fight Laugh Feast Network. Free to speak, Free to podcast, free to start your journey now at www.Dropwave.io. Alright, back to China… they’re not happy with Nancy Pelosi… who is though? https://www.foxnews.com/world/china-furious-pelosi-lands-taiwan-promises-all-necessary-measures-defend-itself China furious after Pelosi lands in Taiwan, promises 'all necessary measures' to defend itself The People's Republic of China released a lengthy statement Tuesday condemning the arrival of House Speaker Nancy Pelosi to the island of Taiwan. China's Ministry of Foreign Affairs published the statement, in which the Chinese government accuses Pelosi, D-Calif., of undermining U.S.-China relations and encouraging the "separatist forces for ‘Taiwan independence.’" Pelosi landed in Taiwan late Tuesday night local time, making her the highest-ranking U.S. official to visit the island since Newt Gingrich in 1997. "This is a serious violation of the one-China principle and the provisions of the three China-U.S. joint communiqués. It has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China's sovereignty and territorial integrity," the Ministry of Foreign Affairs wrote. "There is but one China in the world, Taiwan is an inalienable part of China's territory, and the Government of the People's Republic of China is the sole legal government representing the whole of China." The People's Republic of China has long claimed sovereignty over Taiwan and the Taiwan Strait, the relatively narrow strip of ocean between the island of Taiwan and the Chinese mainland. The Chinese military has frequently sent planes into the area, testing Taiwan's air defense zone. The USS Ronald Reagan and a strike group are currently positioned near Taiwan after they left a port in Singapore on Tuesday. A Navy spokesperson confirmed the news but said it was a planned trip. Pelosi is traveling with a House delegation that includes Democratic Reps. Gregory Meeks of New York, Mark Takano of California, Suzan DelBene of Washington, Raja Krishnamoorthi of Illinois and Andy Kim of New Jersey. Here’s more from Fox News on this developing situation: China issues new threats after Pelosi lands in Taiwan-Play 0:52-2:30 The world awaits… it’s going to be interesting to see what our Lord has in store through this situation developing in Taiwan… Let’s shift our eyes back to the U.S. as Idaho is in the news… https://www.washingtonexaminer.com/news/justice/doj-sues-idaho-over-state-law-near-total-abortion-ban DOJ sues Idaho over law imposing 'near-total ban' on abortion The Justice Department filed a lawsuit against Idaho over the state's law banning abortion after six weeks, Attorney General Merrick Garland announced Tuesday. The legal filing marks the first time President Joe Biden's Justice Department launched a challenge against a state for abortion restrictions since the landmark June 24 Dobbs v. Jackson Women's Health Organization decision overturned a half-century of abortion access precedent, which the president decried as a "realization of an extreme ideology and a tragic error by the Supreme Court." The suit, filed in the U.S. District Court for the District of Idaho, contends that the federal Emergency Medical Treatment and Labor Act preempts the state law. The federal law requires physicians to perform medically stabilizing abortions in an emergency. Garland explained there are circumstances in which abortion is "necessary" if a patient is undergoing an unstable condition during pregnancy. Associate Attorney General Vanita Gupta, who leads the reproductive rights task force, said the DOJ is seeking a declaratory judgment that Idaho's law "violates the supremacy clause of the United States Constitution and is preempted by federal law where it conflicts with EMTALA." The federal agency's lawsuit noted that the state has "passed a near-absolute ban on abortion,” which after taking effect on Aug. 25 will make it a criminal offense to perform an abortion “in all but extremely narrow circumstances.” Health and Human Services Secretary Xavier Becerra also released a statement following the DOJ's announcement, saying the department will continue to partner with the DOJ to enforce federal laws protecting healthcare "including abortions." Meanwhile, the Idaho Supreme Court is slated to hear arguments Wednesday on challenges over its near-total abortion ban, according to the Idaho Press. Attorneys for Idaho will seek to protect three separate restrictive abortion laws passed by the state. Ladies and gentleman, please keep our state in your prayers as a legal battle takes center stage. We wish to see this abomination of abortion brought down in Idaho, and this would be a huge step. https://www.cnn.com/2022/08/01/health/california-newsom-state-of-emergency-monkeypox/index.html Elsewhere in the US, California and Illinois declare states of emergency over monkeypox outbreak This is from CNN. The governors of California and Illinois declared states of emergency to bolster their monkeypox vaccination efforts as the virus spreads nationwide. Monday's declarations come as more than 5,800 probable or confirmed cases of monkeypox have been reported in the US. California had more than 800 cases Tuesday, while Illinois had more than 500, according to data from the US Centers for Disease Control and Prevention. While the World Health Organization has declared the monkeypox outbreak a public health emergency of international concern, the Biden administration has not issued a nationwide public health emergency declaration. California is the third and largest state to issue a statewide declaration related to the disease. New York was the first to do so. California's move allows emergency medical services personnel throughout the state to administer FDA-approved monkeypox vaccines, expanding the pool of people able to inoculate residents against the virus even as a vaccine shortage persists. Illinois' declaration also will make more resources available to combat the virus, Gov. J.B. Pritzker said. The Chicago and state public health departments announced Illinois' first presumptive case June 2. Monkeypox is a poxvirus, related to smallpox, that usually causes pimple- or blister-like lesions, as well as flu-like symptoms such as fever, headaches, muscle aches, chills and respiratory symptoms, according to the CDC. And guys, great news, I found out a great way to avoid Monkey Pox, here it is… don’t be gay! Be heterosexual, and find a godly man or woman to marry, and you’re home free! Yes I realize it’s probably not that simple. But anyways… California has received more than 61,000 vaccine doses so far and distributed more than 25,000, according to the governor's news release. Los Angeles County has received its own vaccine allocation, and state officials said California will make additional allocations in the coming weeks. Last week, Sodom… oh wait I mean, San Francisco became the first major US city to declare a local health emergency on monkeypox. Now hidden towards the bottom of CNN’s article is this following paragraph: “A large number of cases in this outbreak have been in men who have sex with men, including gay and bisexual men, and public health officials are focusing their prevention efforts on this group. The virus is not unique to this community, but the nature of its close-contact spread has led to a disproportionate impact.” Following the emergency declaration in California, Equality California, a major LGBT rights nonprofit organization, applauded the governor's move, noting in a statement that the virus "continues to disproportionately affect gay, bisexual and queer men here in California and across the country." Hey speaking of gays, are you being discriminated against at your work place because you hold to the Bible? Then you need to talk to my friends at RedBalloon.work. Redballoon Not so long ago, the American dream was alive and well. Employees who worked hard were rewarded, and employers looked for people who could do the job, not for people who had the right political views. RedBalloon.work is a job site designed to get us back to what made American businesses successful: free speech, hard work, and having fun. If you are a free speech employer who wants to hire employees who focus on their work and not identity politics, then post a job on RedBalloon. If you are an employee who is being censored at work or is being forced to comply with the current zeitgeist, post your resume on RedBalloon and look for a new job. redballoon.work, the job site where free speech is still alive! www.redballoon.work Alright, enough of that happy stuff from our friends at reballoon, let’s get back to our corrupt society! https://dailycaller.com/2022/08/01/phillip-magness-facebook-recession-fack-check/ ‘Orwellian Hellscape’: Top Economist Says Facebook Fact-Checked Recession Claim To Cover For White House A top economist slammed Facebook’s “Orwellian” fact-checking system after he was given a “partly false” rating for stating the U.S. entered a recession. Dr. Phillip Magness, the research and education director at the American Institute for Economic Research, shared a screenshot of a recent post from July 24 that Facebook fact-checked. “Independent fact-checkers reviewed the photo and said it was partly false,” the fact-check read. “Facebook added a notice to the post.” Magness called the fact-check “Orwellian.” “We live in an Orwellian hell-scape,” Magness posted. “Facebook is now ‘fact-checking’ anyone who questions the White House’s word-games about the definition of a recession.” Magness furthered his assertion in a recent Wall Street Journal (WSJ) op-ed that the U.S. is, in fact, in a recession, and that the Biden administration is trying to cover it up by “playing word games.” Newly released data shows the real GDP decreased at an annual rate of 0.9% in the second quarter of 2022, marking the second consecutive quarter of negative GDP growth. While the National Bureau of Economic Research (NBER) uses several factors to determine whether the U.S. is in a recession, economist Julius Shiskin wrote in 1974 that two consecutive quarters of declining GDP is a good rule of thumb to define a recession, with that definition becoming somewhat of a standard. The White House has gone out of its way to deny that the economy is in a recession, with President Joe Biden declaring Thursday the state of the economy “doesn’t sound like a recession.” The White House also posted a blog that said the NBER indicated there is a “strong growth in the U.S. economy” and therefore the current state of things does not indicate a recession. Things have become so confusing that Wikipedia had to place a pause on editing the term “recession” after the definition was altered 41 times within roughly one week. Users repeatedly deleted the technical definition that described a recession as having two consecutive quarters of negative GDP growth. So, you guys know me… I love to end my segments with my favorite topic, sports! Well today I’m not going to talk about sports, I’m going to talk about NASCAR. Oh zinger! Now I know… I know… your body goes through a lot of stress in NASCAR, I get it… let’s just get into the story… Ty Dillon After Getting Run Over By Kyle Larson: “Luckily The Good Lord Was Keeping An Eye Out For Me, Keeping Me Safe” Ty Dillon thanked God for keeping him safe after Kyle Larson slammed into during the events of the NASCAR Cup Series race at Indianapolis Motor Speedway. Larson ran over Dillon going around 170 mph coming into the sharp right hand turn 1. As Larson attempted to make the corner with Dillon on his outside, he launched over the curb into Dillon’s door. Kyle Larson has issue, slams into Ty Dillon at Indy- Play 1:35-2:26 Well Thank God both drivers were okay. As I’ve said before you can find all of the articles and sources for our newsbriefs in the show notes, and you’ll be able to see the crash for yourselves, and it could have been a lot worse. This has been your CrossPolitic Daily News Brief… If you liked the show, hit that share button for me would ya? If you want to sign up for a club membership, sign up for our conference, or become a magazine subscriber, you could do all of that at fightlaughfeast.com, and if you want to reach out to me about corporate partnerships, our conference, or just a news story you want me to cover, email me at garrison@fightlaughfeast.com… For CrossPolitic news, I’m Garrison Hardie. Have a great day, and Lord bless.
Nelson Rauda, Salvadoran journalist for El Faro, comes to talk about the impact of Bitcoin in El Salvador, the needs of Salvadoran people, Bitcoin City and the Bitcoin Bond, and much more. Show highlights: Nelson's story and how he began covering BTC what kind of politician and president Nayib Bukele was before BTC what the financial reality was for Salvadoran people before the implementation of BTC the reasons for the high rates of unbanked people in El Salvador how Bukele changed the monetary policy with what Rauda says was very little discussion why Rauda believes the BTC law is not meant for Salvadorans, but instead is a PR stunt how people reacted after the announcement of BTC as legal tender, and how it resembled the dollarization of the economy in 2001 how Nelson did not even understand BTC at the moment of the announcement and how he says there was not an effort from the government to educate the population whether BTC was successful in attracting investments and tourism, and how there's no hard data about it why Nelson believes Bukele was trying to hide the scandals when he adopted BTC whether BTC has been used as a PR stunt why bitcoiners are enthusiastic about an authoritarian government adopting BTC as legal tender how Bukele might be undermining his own authority by adopting BTC, a type of money that is not controlled by a state whether the Chivo wallet is a surveillance tool why Nelson believes BTC does not represent a solution for the needs of average Salvadoran people whether the $30 dollar initial gift to download the BTC wallet was seen as just another subsidy the status of Bitcoin City and how Nelson believes it represents the most spectacular PR stunt from Bukele's administration how the expensive prices of electricity in El Salvador make the country not the best place for mining the significance of Bitcoin Beach what the BTC bond is, what Bukele tried to achieve with it, and why it has been postponed whether El Salvador will default on its debt and what the impact of the BTC price has on the national finances and on how Salvadorans perceive Bitcoin how Nelson believes people in El Salvador do not have political freedom and how it contradicts the narrative of financial freedom that BTC aims to provide what Nelson thinks about Bitcoin and whether governments should adopt it as legal tender Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Ava Labs: https://www.avax.network/ Oasis: https://oasisprotocol.org/grant-programs?utm_source=unchained&utm_medium=partnership&utm_campaign=podcast-oasis-grants-program Nelson: Twitter: https://twitter.com/raudaz_ NYT Opinion article: https://www.nytimes.com/2022/07/02/opinion/bitcoin-el-salvador-bukele-crypto.html?referringSource=articleShare Bitcoin Law: PwC report: https://www.pwc.com/gx/en/financial-services/pdf/el-salvadors-law-a-meaningful-test-for-bitcoin.pdf Full law: https://freopp.org/el-salvadors-bitcoin-law-full-proposed-english-text-9a2153ad1d19 BBC article - The IMF urges El Salvador to remove Bitcoin as legal tender: https://www.bbc.com/news/world-latin-america-60135552 BTC as a Trojan horse: https://bitcoinmagazine.com/culture/bitcoin-is-a-trojan-horse-for-freedom Last BTC Purchase: https://decrypt.co/104275/el-salvador-president-nayib-bukele-more-bitcoin-after-losing-60m Washington post article on tourism attraction: https://www.washingtonpost.com/travel/2022/07/06/el-salvador-bitcoin-beach/?utm_campaign=wp_main&utm_medium=social&utm_source=twitter NYT Article on El Salvador's bet: https://www.nytimes.com/2022/07/05/world/americas/el-salvador-bitcoin-national-currency.html El Salvador: Research paper on El Salvador by the NBER: https://www.nber.org/papers/w29968 The World Bank report on El Salvador: https://www.worldbank.org/en/country/elsalvador/overview El Salvador and the IMF: https://www.reuters.com/world/americas/el-salvador-finance-minister-says-possible-imf-deal-no-panacea-2022-07-14/ CNBC on El Salvador Finances: https://www.cnbc.com/2022/06/25/el-salvador-bitcoin-experiment-not-saving-countrys-finances.html IMF report on El Salvador Finances: https://www.imf.org/en/News/Articles/2022/02/15/cf-el-salvadors-comeback-constrained-by-increased-risks Bitcoin Bond: https://www.coindesk.com/business/2022/03/25/bitcoin-city-el-salvadors-dreams-for-utopia-on-hold/ El Salvador postpones BTC bond: https://www.reuters.com/technology/el-salvador-postpones-bitcoin-bond-issue-expects-better-conditions-2022-03-22/ Bitcoin City: https://www.dezeen.com/2022/05/12/bitcoin-city-el-salvador-president-nayib-bukele/#:~:text=Bitcoin%20City%20is%20planned%20for,from%20the%20nearby%20Conchagua%20volcano.
Inflation hit a staggering 9.1% over the last 12 months, rising 1.3% for the month of June. The increases were “broad-based,” as the Bureau of Labor Statistics (BLS) put it, touching just about every aspect of our lives…especially food prices and energy prices. In anticipation of these new numbers, we invited Dr Mohamed El-Erian back to the podcast. He is President of Queens' College at Cambridge University. Mohamed serves as part-time Chief Economic Advisor at Allianz and Chair of Gramercy Fund Management. He's a Professor at The Wharton School, he is a Financial Times contributing editor, Bloomberg Opinion columnist, and the author of two New York Times best sellers. He serves on several non-profit boards, including the NBER, and those of Barclays and Under Armour. From 2007-2014, Mohammed served as CEO/co-CIO of PIMCO, which has over two trillion under management. He worked at PIMCO for a total of fourteen years, and was chair of President Obama's Global Development Council. He also served two years as president and CEO of Harvard Management Company, the entity that manages Harvard's endowment. He has been chair of the Microsoft Investment Advisory Board since 2007 Mohammed is expert in many domains when it comes to the financial markets and the macro economy, but especially - inflation.
Economists have been weighing each twist and turn of the economy to determine whether we are going “up” or “down.” Many are predicting a recession at some point, while a few say we're already in a recession because the economy is contracting. But does this economy show the typical signs of a recession? One MarketWatch contributor doesn't think so.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.As you may know, two quarters of negative economic growth are usually interpreted as a recession. We've already seen negative growth in the first quarter. The economy contracted at an annual rate of 1.6%. And now, there are analysts and GDP trackers that are predicting the second quarter will decline as well. The Q2 numbers won't be out until the end of this month, but in the meantime, there are plenty of people looking at historical patterns to determine what might be happening, or not happening.Economy Still Quite HealthyMarketWatch contributor, Jeffrey Bartash, doesn't believe the typical definition of a recession will hold true this time around. He says the report we see on the “gross domestic product” is often reduced to simple headlines that don't tell the whole story, and that, right now, “many parts of the U.S. economy still seem quite healthy.” (1)For one, consumer spending and business investment both rose in the first quarter. Consumers are well employed with plenty of savings from the pandemic, while businesses are creating hundreds of thousands of jobs that they can't fill because of a labor shortage. The unemployment rate is 3.6% which is close to a 54-year low. That makes layoffs less likely, even if the economy sputters in the months ahead.Blame the International Trade DeficitBut the economy did decline in Q1. Bartash says it's not because the economy is in bad shape. He says it's because of a surge in the international trade deficit, and that happened because of supply chain issues. Many companies placed bigger orders for foreign goods to “stock up.” But the surge in goods coming into the country also made it look like our economy was slowing down. There's a group of eight economists at the National Bureau of Economic Research who study all the details of a potential recession. Bartash says they pay special attention to hiring, unemployment, manufacturing, consumer income, and consumer spending, adjusted for inflation. And he says none of those data points support the idea of a U.S. recession, right now.NBER's Definition of “Recession”The NBER's definition of a recession is a little different than two consecutive quarters of negative economic growth. It says a recession happens when there's “a significant decline in economic activity that is spread across the economy and that lasts more than a few months.” It also says that a downturn has to be “deep, broad, and long-lasting” before it's considered a recession. We still have about three weeks before the official report comes out on the second quarter GDP. As Bartash points out, a lot can change between now and then, and between now and next year. This is why some economists are predicting a potential downturn or recession in 2023. But most agree, an economic slowdown has already begun.As Senior Wells Fargo Economist, Sam Bullard, told CNBC: “There are certainly a lot of challenges ahead. The latest incoming data clearly signals there has been a loss of momentum.”Economic Challenges AheadA few weeks ago, the Federal Reserve lowered its full-year GDP estimate to just 1.7% from 2.8%. Both those numbers are substantially lower than last year when the GDP was 5.7%. (2)The central bank lowered its outlook after it announced the biggest rate hike in 28 years to help curb inflation. It raised the Federal Funds rate 75 basis points, and is now planning to do the same at its July meeting. Fed Chief Jerome Powell has emphasized the need to fight inflation. The Consumer Price Index hit 8.6% in May.Higher interest rates will help slow the economy by making money more expensive. It'll cost more for things like credit cards, car loans, business loans and adjustable rate mortgages. Fixed-rate mortgages are also impacted indirectly, and they've been shooting higher as well. The cost of a 30-year fixed rate mortgage has doubled since last fall from around 3% to around 6%.Why Consumers Are Doing So WellEconomists feel that most consumers are doing well so far because unemployment is low and many are flush with savings. They didn't spend as much on things like clothes, gas, travel, and entertainment during the pandemic.. MarketWatch says that consumers have more than $2 trillion in “excess” savings. Many employees are also getting bigger paychecks because of the labor shortage and pay raises meant to keep them from leaving. All that helps offset higher prices. According to the MarketWatch assessment, a lot depends on how much the Fed has to raise rates before we see inflation ease up. Some say we need to see improvement by the end of this year, and with short-term rates that don't go any higher than 4%. Other variables, of course, involve the war in Ukraine and the price of oil and grain that come from that region. And the supply chain squeeze that began during the pandemic and hasn't resolved.Avoiding Recession with a Bit of Good Luck!Higher interest rates that slow the economy could help producers catch up. But when it comes down to what makes or breaks the economy, it could be that we need a little bit of luck for things that are not in our control outside the U.S. Economist Oren Klachkin of Oxford Economics told MarketWatch: “The window for avoiding a recession is narrower today, but a downturn isn't unavoidable.”If you'd like to hear more about how the economy is impacting real estate and the housing market, I go into more detail on that topic in a recent webinar. It's my Housing Market Update for Q2. You can listen to the replay for free at newsforinvestors.com. You'll find it under the “Learn” tab.And please remember to hit the subscribe button, and leave a review!Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.marketwatch.com/story/the-u-s-wont-officially-be-in-recession-if-gdp-shrinks-again-and-heres-why-11657047088 2 -https://www.marketwatch.com/story/the-odds-of-recession-are-rising-but-the-u-s-economy-is-not-doomed-to-a-downturn-11655479959
This is Garrison Hardie, stepping in for Pastor Toby on the CrossPolitic Daily News Brief, for Tuesday, June 21st, 2022. Today, I’ll be covering the wokification of the U.S. Military, China, is en route to having 4 aircraft carriers… not a good combination… Federal ‘Stimulus’ Program Cost Taxpayers $850k Per Job Saved, Study Finds… and we check in on my favorite topic… sports! But first… Club Membership Plug: Let’s stop and take a moment to talk about Fight Laugh Feast Club membership. By joining the Fight Laugh Feast Army, not only will you be aiding in our fight to take down secular & legacy media; but you’ll also get access to content placed in our Club Portal, such as past shows, all of our conference talks, and EXCLUSIVE content for club members that you won’t be able to find anywhere else. Lastly, you’ll also get discounts for our conferences… so if you’ve got $10 bucks a month to kick over our way, you can sign up now at flfnetwork.com/product/fightlaughfestclub. https://thepostmillennial.com/us-military-marches-in-front-of-pride-flag-no-american-flag-in-sight?utm_campaign=64487 US military marches in front of Pride flag, no American flag in sight The official Twitter account for US Air Force Recruiting posted a photo on June 17th of several cadets jogging while one in back held the LGBT pride flag with no American flag to be seen. "Pride in all who serve," the post read, accompanied by a rainbow flag emoji. This representation of America's elite flying warriors serving under a flag other than the flag of the United States raises some doubts about the priorities held by current military leadership. The photo and the substitution of the pride flag for the American flag prompted jeers from Twitter, including comment from Navy vet and Human Events Daily's Jack Posobiec who joked, "The Air Force has switched allegiance. And here I thought the Navy would be the first to go." The Air Force's embrace of progressive politics has translated into a number of public initiatives that have left people raising similar concerns as the ones surrounding the absentee American flag. In March 2022, the Air Force celebrated 'transgender day of visibility' and as The Post Millennial reported, "cited President Biden's initiatives as a reason that they believe gender identity is part of their purview." The trend continued into April when the Air Force promised to create a 'safe space' for cadets to 'share perspectives.' In May, a US Air Force base in Germany cancelled a scheduled Drag Queen Story Hour after an expose from The Post Millennial. The questioning of the prioritization of progressive initiatives by the U.S. military comes on a series of notable blunders from top military officials such as critical race theory fan, General Mark Milley. Milley failed to predict the fall of Afghanistan and undermined former President Trump, telling China he would warn them if the US planned to attack. The United States Air Force also recently lowered their fitness standards again in a move that's happening across all branches of American military. For instance, the Navy! https://freebeacon.com/national-security/pride-month-heres-how-the-navy-is-training-sailors-on-proper-gender-pronouns/ The Navy is training its members to create a "safe space" by using proper gender pronouns in a new instructional video modeled after a children's show. https://youtu.be/kIQ9R25hXPo -Play 0:00-2:11 OH MY GOSH. Lord have mercy! The official training video is meant to emphasize "the importance of using correct pronouns as well as polite etiquette when you may not be sure of someone's pronouns," according to the Navy, which late last month published the video online. The Defense Visual Information Distribution Service touts the video as an "official U.S. Navy video" posted by Air Force staff sergeant John Vannucci. The video is the latest bid by the military to foster a more sensitive environment for its members and staff. The Army mandates similar gender identity training and trains officers on when to offer subordinates gender-transition surgery, the Washington Free Beacon reported in March. These programs are part of a larger push by the Biden administration to make the military more welcoming to transgender individuals. The nearly four-minute Navy video emphasizes how members can create "a safe space" for their colleagues by using "inclusive language" that signals they are "allies" who "accept everybody." Service members must take these steps to ensure they do not "misgender someone." The Navy also warns staff against pressuring an individual to disclose his or her gender pronouns, saying that colleagues may still be in "the process of discovery" and not yet ready to provide this information. Let’s shift focus overseas, as China is apparently on it’s way to having 4 aircraft carriers. Based on that last article I went through, isn’t that comforting? https://www.19fortyfive.com/2022/06/china-could-soon-have-4-aircraft-carriers/ China Could Soon Have 4 Aircraft Carriers China says its military build-up in the last several years is part of its “peaceful rise.” One aspect of this strategy is shipbuilding, particularly the construction of modern aircraft carriers like the Type 003 Fujian that just launched in Shanghai on June 17. The Type 003 is similar in scope to the American Ford and Nimitz-class. But the new carrier is conventionally powered not nuclear. So, what is next for China’s defense industry? Perhaps it’s the Type 004, which could be China’s first nuclear-powered flat top. This means that Beijing wishes to operate its navy worldwide in a true blue-water fashion someday. While the Type 003 will need a few years of sea trials, and it is not clear when the testing will commence, this is still an impressive development for the People’s Liberation Army Navy (PLAN). It potentially allows up to three carrier battle groups that can be deployed in the East and the South China Sea to put fear into Taiwan, Japan, and South Korea. The Type 004 is up next. There have been clues that PLAN aircraft such as the fifth generation FC-31 Gyrfalcon and J-15 Flying Shark carrier-based fighters were seen on satellite imagery training for flight deck operations. This could mean the stealth FC-31 could fly from a carrier someday and be a mainstay on a fourth PLAN carrier. China naval analysts, according to the South China Morning Post, revealed that construction on the Type 004 would combine breakthrough technologies – perhaps nuclear propulsion. SCMP’s Minnie Chan wrote that “Shipbuilders and ship propulsion engineers are keen on making a significant breakthrough with the construction of the fourth carrier,” a source close to the Chinese navy said. “It will be a technological leap for the shipbuilding industry … but construction may take longer than for its sister ship due to the different propulsion systems.” Chan unveiled another source who said the “China State Shipbuilding Corporation is to use nuclear power for the fourth carrier.” China Has Nuclear-Powered Submarines The PLAN has 12 nuclear-powered submarines – six attack boats and six boomers. So nuclear propulsion for a carrier is within the realm of possibility. So, all the while China is bolstering a strong and masculine military, and getting shiny new toys, we’re teaching our soldiers, airmen, and sailors about the proper pronouns… moving on… CWWI DNB: Did you know that more than 75% of those raised in evangelical, Presbyterian, and Reformed churches don’t pursue any kind of Christian higher education? Surprising isn’t it. Cornerstone Work & Worldview Institute is seeking to provide a new, exciting, and affordable option for Christians. Their mission is to build Kingdom culture in the workplace by equipping their students in a Trinitarian worldview and vocational competencies. Their low-cost full-time program offers integrative course modules, internships, and mentoring so their students can finish debt-free with vocational preparation, a robust faith, and financial potential to build strong godly families and homes rooted in their communities and churches long-term. Visit their website at www.cornerstonework.org to find out more about enrolling. https://www.based-politics.com/2022/06/20/this-federal-stimulus-program-cost-taxpayers-850k-per-job-saved/ YIKES: This Federal ‘Stimulus’ Program Cost Taxpayers $850k Per Job Saved, Study Finds President Biden’s multi-trillion-dollar “stimulus” legislation, the American Rescue Plan, may go down as one of the biggest failures in history. It has failed to produce the promised jobs, wasted countless billions, and worsened inflation. Now, a new study reveals yet another way the behemoth stimulus effort failed. Remember, the legislation allocated an astonishing $350 billion—roughly $2400 per federal taxpayer—to bailing out state and local governments. In the Democrats’ telling, this money was necessary because local governments were cash-strapped from the pandemic and needed help to avoid laying off front-line emergency responders. This was always a lie, because the expected state revenue shortfall never actually happened. Perhaps unsurprisingly, the unnecessary “stimulus” money sent to state governments has proven laughably ineffective. A new NBER study by Jeffrey Clemens, Philip G. Hoxie & Stan Veuger estimates that the program spent roughly $855,000 for every one year of employment it preserved. That’s right: The feds spent nearly a million bucks for every job they “protected” for a year. (That’s probably about 10 to 8 times as much as these jobs actually pay… ) Does that sound like an efficient use of taxpayer money to you? The experts also find that the “stimulus” initiative had a near-zero impact on national income and economic growth and “modest if any spillover effects onto the broader economy.” Allow me to translate. The federal government wasted hundreds of billions of dollars to protect laughably few government jobs at a wildly inefficient rate with basically zero stimulative effect on the economy. And this one program isn’t some exception. Many of the other provisions of the massive stimulus legislation were similarly inefficient and wasteful. But please, tell me more about how Big Government can fix the economy if we just keep giving them more money and power. Finally, let’s shift to the topic that I love… sports! https://nypost.com/2022/06/19/matt-fitzpatrick-wins-us-open-2022-for-first-major-title/ Matt Fitzpatrick captures 2022 US Open for first major championship Neither Matthew Fitzpatrick nor Will Zalatoris had won a PGA Tour event, let alone a major championship. Fitzpatrick, though, fancied himself as the player who had the edge this week — not just over Zalatoris, with whom he was paired in the final group of the 122nd U.S. Open at The Country Club and dueled right to the scintillating 72nd and final hole of the tournament, but over everyone. As a teenager in 2013, Fitzpatrick won the U.S. Amateur on these very historic grounds, and he hadn’t been shy about telling anyone this week that he felt that might be the difference for him. In the end, maybe it was. Maybe it was the slightest of edges he had over Zalatoris, whom he narrowly defeated to capture the U.S. Open, his first professional win on American soil. Fitzpatrick shot a final-round 68 to finish 6-under for the tournament, one shot clear of Zalatoris… who shot, 69 on the day. This has been your CrossPolitic Daily News Brief… if you liked the show, hit that share button, or sign up as a club member, as we’re now creating exclusive content for club members! If you want to come to our conference, early bird pricing is going fast, so go sign up at flfnetwork.com/knoxville2022… and as always, if you’d like to sponsor CrossPolitic, email me, at garrison@fightlaughfeast.com. For CrossPolitic News… I’m Garrison Hardie. Have a great day, and Lord bless.
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