Podcast appearances and mentions of Paul A Samuelson

Ein Talkshow-Auftritt von Clemens Fuest sorgte kürzlich für Furore: Der Leiter des arbeitgeberfreundlichen ifo-Instituts erklärte, dass man nicht Kanonen und Butter haben könne, sondern nur das eine oder das andere. Finanzminister Christian Lindner pflichtete ihm bei. Die Aufrüstung bringe es mit sich, dass beim Sozialstaat gespart werden müsse. Ein Schlaraffenland könne es nicht geben, wenn man priorisiert aufrüsten möchte, machte Fuest deutlich. Kanonen statt Butter! War das nicht auch die Losung von Göring und Goebbels? Ja, doch tatsächlich geht diese Formulierung schon auf den Ersten Weltkrieg zurück, und nach 1945 wurde sie vor allem durch den neoklassischen Ökonomen Paul A. Samuelson geprägt, der die Sachlage analysierte, wenn in einem Land Vollbeschäftigung erreicht ist und man abwägen muss, was man produzieren will. In der neuen Folge von „Wohlstand für Alle“ sprechen Ole Nymoen und Wolfgang M. Schmitt über die neu entflammte Debatte. Veranstaltungshinweis: Alle Informationen (sowie Tickets) zu unserer Veranstaltung mit Jean-Philippe Kindler findet ihr unter: https://www.capitol-mannheim.de/veranstaltung/kindler-stoesst-an-mit-wolfgang-m.-schmitt-und-ole-nymoen Literatur/Quellen: Maybrit Illner: “Wirtschaft vor dem Absturz – Ampel ohne Kurs?”, online verfügbar unter: https://www.zdf.de/politik/maybrit-illner/wirtschaft-vor-dem-absturz-ampel-ohne-kurs-maybrit-illner-vom-22-februar-2024-100.html. Max Krahé, Sara Schulte, Nils Kleimeier: “Kampfjets statt Kitas?”, online verfügbar unter: https://www.dezernatzukunft.org/kampfjets-statt-kitas/. Ole Nymoen: WfA-Spezial #10 mit Adam Tooze, online verfügbar unter: https://www.youtube.com/watch?v=HVJaA3_R2_g. Paul A. Samuelson/William D. Nordhaus: Grundzüge der Volkswirtschaftslehre, Bund-Verlag. Mark Schieritz: “Wer bezahlt für den Krieg, die Armen oder die Reichen?”, online verfügbar unter: https://www.zeit.de/wirtschaft/2024-03/aufruestung-bundeswehr-sozialausgaben-sparen-verteidigungspolitik. Unsere Zusatzinhalte könnt ihr bei Steady und Patreon hören. Vielen Dank! Patreon: https://www.patreon.com/oleundwolfgang Steady: https://steadyhq.com/de/oleundwolfgang/about Ihr könnt uns unterstützen - herzlichen Dank! Paypal: https://www.paypal.me/oleundwolfgang Konto: Wolfgang M. Schmitt, Ole Nymoen Betreff: Wohlstand fuer Alle IBAN: DE67 5745 0120 0130 7996 12 BIC: MALADE51NWD Social Media: Instagram: Unser gemeinsamer Kanal: https://www.instagram.com/oleundwolfgang/ Ole: https://www.instagram.com/ole.nymoen/ Wolfgang: https://www.instagram.com/wolfgangmschmitt/ TikTok: https://www.tiktok.com/@oleundwolfgang Twitter: Unser gemeinsamer Kanal: https://twitter.com/OleUndWolfgang Ole: twitter.com/nymoen_ole Wolfgang: twitter.com/SchmittJunior Die gesamte WfA-Literaturliste: https://wohlstand-fuer-alle.netlify.app

Our guest this week is Eric Balchunas, who is a senior exchange-traded fund analyst for Bloomberg Intelligence, where he writes for and leads the fund research team. Balchunas is a fixture in financial media. He hosts the TV show Bloomberg ETF IQ and the podcast Trillions and is also a mainstay of social media under his popular Twitter account @EricBalchunas. Balchunas is also an accomplished author, his latest book being The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions, which we devote this episode to discussing. He earned his bachelor's degree in journalism and environmental economics from Rutgers University.BackgroundBioTwitter: @EricBalchunasThe Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors TrillionsVanguard: The Early Years"Inside 'The Bogle Effect'," Trillions podcast, Bloomberg.com, April 27, 2022."Investor Jack Bogle Founded His Legendary Company Based on His Princeton Senior Thesis," by Veronika Kero, cnbc.com, Jan. 17, 2019."How the Index Fund Was Born," by John C. Bogle, The Wall Street Journal, Sept. 3, 2011."Challenge to Judgment," by Paul A. Samuelson, The Journal of Portfolio Management, Fall 1974."Q&A With Jack Bogle: "We're in the Middle of a Revolution'," by Michael Regan, Bloomberg.com, Nov. 23, 2016.Gus SauterTed AronsonMichael LewisJason Zweig"Investing Legend Jack Bogle Says There's a Big Problem With Index Funds," by Sergei Klebnikov, money.com, Nov. 30, 2018.Bogle's BooksStay the Course: The Story of Vanguard and the Index Revolution, by John C. BogleThe Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns, by John C. BogleEnough: True Measures of Money, Business, and Life, by John C. BogleCharacter Counts: The Creation and Building of The Vanguard Group, by John C. BogleOther"Sheryl Garrett: 'The Industry Thought I Was Nuts'," The Long View podcast, Morningstar.com, July 17, 2019."Michael Kitces: The Model Has to Change Again," The Long View podcast, Morningstar.com, June 5, 2019."Rick Ferri: 'There Are No Average Investors'," The Long View podcast, Morningstar.com, July 3, 2019."Gus Sauter: Efficient Markets Are a Good Thing," The Long View podcast, Morningstar.com, Dec. 4, 2019."Jack Brennan: Price Pressure in the Advice Business 'Is Inevitable'," The Long View podcast, Morningstar.com, June 23, 2021."Jason Zweig: Temperament Is Everything for Most Investors," The Long View podcast, Morningstar.com, June 29, 2021.

Some years ago, Andrew participated in a published symposium (http://www.copejournal.com/critique-of-political-economy-vol-1/) on the “value-form paradigm”—a Marx-inspired and market-focused strand of political economy. Andrew (http://www.copejournal.com/wp-content/uploads/2015/12/andrew-kliman-on-capitalism_s-historical-specificity-and-price-determination.pdf) and others criticized the value-form paradigm, and the noted value-form theorist Patrick Murray (http://www.copejournal.com/wp-content/uploads/2015/12/patrick-murray-avoiding-bad-abstractions.pdf) responded to them. In this episode (and a future one), Andrew replies to Murray’s paper—for the first time anywhere. He and Brendan discuss differences between Marx and value-form theory regarding how commodities’ values are determined and whether capitalism is essentially a monetary system. They also engage in a broader dialogue on the general features of the value-form paradigm and its political implications; some of that discussion focuses on how Marx’s critique of Proudhonism is relevant to the value-form paradigm. The segment includes references to Marx’s Capital—chapter 1 (https://www.marxists.org/archive/marx/works/1867-c1/ch01.htm), chapter 2 (https://www.marxists.org/archive/marx/works/1867-c1/ch02.htm), and chapter 7 (https://www.marxists.org/archive/marx/works/1867-c1/ch07.htm) of volume 1, and chapter 1 of volume 2 (https://www.marxists.org/archive/marx/works/1885-c2/ch01.htm#4)—and to Paul A. Samuelson’s famous paper, “Understanding the Marxian Notion of Exploitation.” (https://www.jstor.org/stable/2721055) The current-events segment focuses again on the COVID-19 pandemic––especially Lysol Don’s latest epidemiological wisdom and Nazis storming Michigan’s Capitol building. Are there really “good people on both sides” of this lunacy? * ~ * ~ * ~ * Radio Free Humanity is a podcast covering news, politics and philosophy from a Marxist-Humanist perspective. It is co-hosted by Brendan Cooney and Andrew Kliman. We intend to release new episodes every two weeks. Radio Free Humanity is sponsored by Marxist-Humanist Initiative (MHI), but the views expressed by the co-hosts and guests of Radio Free Humanity are their own. They do not necessarily reflect the views and positions of MHI. We welcome and encourage listeners’ comments, posted on this episode’s page of the MHI website. Please visit MHI’s website for information on philosophy & organization, Marxist-Humanist archives, and its online publication, “With Sober Senses”:
https://www.marxisthumanistinitiative.org/

24 ottobre 1929. Novant'anni fa l'inizio del crollo di Wall Street. Gli anni della Grande Depressione, la disoccupazione di massa, la povertà. Differenze e similitudini con la crisi del 2008. Memos ha ospitato l'economista Francesco Saraceno (Science-Po Parigi e Luiss di Roma), autore di “La scienza inutile” (Luiss). Con lui le testimonianze di due tra i più grandi economisti americani del ‘900: Paul A. Samuelson e John K. Galbraith intervistati da Radio Popolare nell'ottobre del 1999 in occasione di una trasmissione speciale sui 70 anni del crash di Wall Street. Chiude la puntata il messaggio di Giorgia Serughetti, sociologa dell'università Milano Bicocca.

24 ottobre 1929. Novant’anni fa l’inizio del crollo di Wall Street. Gli anni della Grande Depressione, la disoccupazione di massa, la povertà. Differenze e similitudini con la crisi del 2008. Memos ha ospitato l’economista Francesco Saraceno (Science-Po Parigi e Luiss di Roma), autore di “La scienza inutile” (Luiss). Con lui le testimonianze di due tra i più grandi economisti americani del ‘900: Paul A. Samuelson e John K. Galbraith intervistati da Radio Popolare nell’ottobre del 1999 in occasione di una trasmissione speciale sui 70 anni del crash di Wall Street. Chiude la puntata il messaggio di Giorgia Serughetti, sociologa dell’università Milano Bicocca.

24 ottobre 1929. Novant’anni fa l’inizio del crollo di Wall Street. Gli anni della Grande Depressione, la disoccupazione di massa, la povertà. Differenze e similitudini con la crisi del 2008. Memos ha ospitato l’economista Francesco Saraceno (Science-Po Parigi e Luiss di Roma), autore di “La scienza inutile” (Luiss). Con lui le testimonianze di due tra i più grandi economisti americani del ‘900: Paul A. Samuelson e John K. Galbraith intervistati da Radio Popolare nell’ottobre del 1999 in occasione di una trasmissione speciale sui 70 anni del crash di Wall Street. Chiude la puntata il messaggio di Giorgia Serughetti, sociologa dell’università Milano Bicocca.

Diese Woche, [Markus], [Pierre] und [Max]über [Bitcoins] Ökonomie Unsere Themen: Wer sind wir? Bitcoin im Turm , Markus , Pierre, Max Links zu Max und Co GitHub towardsliberty Mises Institut Mises Institut Deutschland World Crypto Network , Mises Institut und Max Totalitäre Wirtschaftssysteme: Kommunismus, Marxismus, Nationalsozialismus, Sozialismus... Keynesianismus John Maynard Keynes, Paul A. Samuelson, Paul Krugmann Der Glaube die Wirtschaft in bestimmte Bahnen lenken zu können. Nachfrageorientiert. "Soviet Union proves socialism can function and thrive" Paul A. Samuelson Monetarismus Wichtigste Vertreter: Milton Friedman, Karl Brunner Quantitätsgleichung: (Geldmenge M ⋅ Umlaufgeschwindigkeit des Geldes V = Preisniveau P ⋅ Volkseinkommen Y) Liberalismus Wichtigste Vertreter: Carl Menger, Ludwig von Mises, Friedrich von Hayek, Murray Rothbard ( anarchokapitalistischen Bewegung) "Niemals habe eine zentrale Planstelle vergleichbares Wissen verfügbar, wie es über das Preissystem zum Ausdruck komme" "Der Wettbewerb als Entdeckungsverfahren" Hayek "Die entnationalisierung des Geldes" Hayek

Today’s program is really special, because my guest is Brigitte Madrian. Brigitte is the Aetna Professor of Public Policy and Corporate Management at the Harvard Kennedy School, and also co-director of the Household Finance working group at the National Bureau of Economic Research. She is a leading expert in behavioral economics and consumer decision-making regarding both health and finance, and in finance,especially savings and retirement. Importantly to me, she is also my faculty advisor for the book I’m writing. Regular listeners know I’m spending two years as a Senior Fellow at the Center for Business and Government in the Kennedy School.  As I started into my fellowship last year, I had the great fortune of linking with Brigitte as my faculty advisor for the book.  She is part of the movement in economics that’s rethinking the classical theory that assumes that everyone behaves rationally. That work goes to the very heart of the condundrum in consumer finance, where both policymakers and industry have to grapple with the fact that consumers don’t always make the choices that are best for them. Understanding the many reasons why that happens, and how to elicit better decisions, is one of the keys to improving consumer financial health. For this podcast, I met with Brigitte in her office on a lovely summer day. The Kennedy school is a complex of brick buildings clustered on the bank of the Charles River – it’s located about halfway between the Harvard Business School, on the other side of the river, and the old Harvard Yard, which is the traditional heart of the college (Harvard was founded in 1636). The Kennedy School has been undergoing construction ever since I got here – I get a fascinating display of cranes and I-beams and such from my little office space in the Belfer building – but Brigitte and I had a quiet talk during summer semester, with most of the students away. She came to Harvard about 10 years ago, and in our talk, she quoted someone once saying that professional schools tend to be run very much like the professions they represent. It’s certainly true of the Kennedy School, which is all about gathering together a multiplicity of voices to grapple with public policy challenges. And it’s especially true for my center, which is the Mossavar-Rahmani Center for Business and Government. All of our fellows are working on finding practical solutions at the nexus of public policy and the private sector. That’s what Brigitte has done in her research. She started out by looking at data on retirement plans (her first paper was about automatic enrollment), and she found the results so compelling that she didn’t even need to do statistical analysis to see that automatic enrollment led to dramatic increase in savings plan participation, especially among the groups least likely to participate -- employees who were younger, lower-paid employees, newly-hired, black and latino. The automatic enrollment caused an amazing 50-60% increase in plan participation. That paper got a lot of attention and led her to a 20 year research agenda trying to understand financial decisions. I think you’ll be very interested in her views about the track record for policies like financial literacy education and financial incentives to save. She pinpoints complexity as a critical problem, and she’s not a fan of disclosure as the solution. Our talk was especially timely because we met shortly after release of an important study she helped produce, by the Retirement Security and Personal Savings Commission of the Bipartisan Policy Center in Washington.   The report is titled Securing Our Financial Future, and makes recommendations for policymakers on how to increase income security for older individuals. She’ll describe some of the highlights. I’m excited about behavioral economics because when these insights are combined with new technology, it becomes possible to create vastly better financial products. You may remember my discussion with Ethan Bloch of Digit, which incorporates these same principles of letting people save automatically instead of through daily effort, and in trying to bring financial decision-making time to zero. Easy and sound financial management is suddenly becoming possible. Brigitte’s biography: Brigitte Madrian is the Aetna Professor of Public Policy and Corporate Management at the Harvard Kennedy School.  Before coming to Harvard in 2006, she was on the Faculty at the University of Pennsylvania Wharton School (2003-2006), the University of Chicago Graduate School of Business (1995-2003) and the Harvard University Economics Department (1993-1995).  She is also a research associate and co-director of the Household Finance working group at the National Bureau of Economic Research. Dr. Madrian’s current research focuses on behavioral economics and household finance, with a particular focus on household saving and investment behavior.  Her work in this area has impacted the design of employer-sponsored savings plans in the U.S. and has influenced pension reform legislation both in the U.S. and abroad. She is also engaged in research on health, using the lens of behavioral economics to understand health behaviors and improve health outcomes; in the past she has also examined the impact of health insurance on the job choice and retirement decisions of employees and the hiring decisions of firms. Dr. Madrian received her Ph.D. in economics from the Massachusetts Institute of Technology and studied economics as an undergraduate at Brigham Young University.  She is the recipient of the National Academy of Social Insurance Dissertation Prize (first place, 1994) and a two-time recipient of the TIAA-CREF Paul A. Samuelson Award for Scholarly Research on Lifelong Financial Security (2002 and 2011). Also…. Please sign up for our mailing list, which includes our newly-launched newsletter highlighting events of the month and my thoughts about them. I have some big news coming up – I’m co-founding a Reg-Tech venture, so don’t miss hearing about it! Subscribe Sign up with your email address to receive news and updates. Email Address Sign Up We respect your privacy. Thank you! Also, please send in your “buck a show” to support Barefoot Innovation. Have you ever noticed that we often have long lapses of time between when we record a podcast and when we post it? That’s because the show is free, but takes huge amounts of time to produce. And we produce it on a shoestring – I work with my little cadre of young part-timers. If we can develop more revenue, we want to get onto a more frequent and regular schedule. You won’t belive the amazing episodes I have already recorded, but haven’t yet been able to share. So if you love the show – and I hear constantly that people do, and we have thousands of people listening around the world – it would be great for you to send in a little bit of support. Support our Podcast Remember, follow me on twitter at @joannbarefoot, and please review us on iTunes. And come to my new Facebook fan page HERE Last but not least, come back next time for an exciting conversation with Colin Walsh, right around the time he is launching his new fintech venture….Varo. See you then!