Podcast appearances and mentions of Paul Samuelson

Paul Samuelson once said ‘I don't care who writes a nation's laws or crafts its advanced treatises if I can write its economics textbooks' and boy did he write the book! Samuelson understood the power of economics and his best selling textbook called (surprisingly) ‘Economics' was read by millions across America and influenced a number of the economists and policy makers that shape economic policy today. This was far from being his only claim to fame though and throughout his lifetime he wrote an extraordinarily large number of influential papers across a range of micro and macroeconomic topics (in cricket terms he was very much and all rounder or for baseball fans a 'two way player'. His neoclassical synthesis that combined Keynesianism with New Classical theory was a particularly influential advance. He is also seen as the man who brought a far greater mathematical rigour to economics, an approach which has very much outlived him.In this fourth episode of Season 8 of their award winning podcast, your friendly neighbourhood economists, Pete and Gav, dive into the world of Paul Krugman's (a fellow Nobel Prize winner) favourite economist. Along the way, you will find out about AMSR, a trivia quiz that features a ‘joke' question that Samuelson got right and so many ideas, you won't know what to do with them all. Technical support as always comes from our good friend Nic.

Professor Richard Wolff's co-author, colleague, and friend, the late Stephen Resnick, would tell his students about his discussion, as a student at MIT, with Paul Samuelson. He asked Samuelson: “What is there in Marx that is both valid and absent in neoclassical theory”? To this, Samuelson responded: “Class analysis.” In this episode, Shahram and Professor Wolff use the dialectic to explore how Marx's magnum opus, Das Kapital, is understood and its connection to class and class analysis. It begins by examining the overall project of Capital and discussing why beginners should read this essential text. Professor Wolff explains the importance of the three volumes in Marx's theoretical scheme, the main differences between the first two volumes, and how they individually contribute to our understanding of the ‘capitalist totality'.   About The Dialectic at Work is a podcast hosted by Professor Shahram Azhar & Professor Richard Wolff. The show is dedicated to exploring Marxian theory. It utilizes the dialectical mode of reasoning, that is the method developed over the millennia by Plato and Aristotle, and continues to explore new dimensions of theory and praxis via a dialogue. The Marxist dialectic is a revolutionary dialectic that not only seeks to understand the world but rather to change it. In our discussions, the dialectic goes to work intending to solve the urgent life crises that we face as a global community. Follow us on social media: X: @DialecticAtWork Instagram: @DialecticAtWork Tiktok: @DialecticAtWork Website: www.DemocracyAtWork.info Patreon: www.patreon.com/democracyatwork

rWotD Episode 2876: Wassily Leontief Welcome to Random Wiki of the Day, your journey through Wikipedia’s vast and varied content, one random article at a time.The random article for Wednesday, 19 March 2025 is Wassily Leontief.Wassily Wassilyevich Leontief (Russian: Васи́лий Васи́льевич Лео́нтьев; August 5, 1905 – February 5, 1999), was a Soviet-American economist known for his research on input–output analysis and how changes in one economic sector may affect other sectors.Leontief won the Nobel Memorial Prize in Economic Sciences in 1973, and four of his doctoral students have also been awarded the prize (Paul Samuelson 1970, Robert Solow 1987, Vernon L. Smith 2002, Thomas Schelling 2005).This recording reflects the Wikipedia text as of 00:06 UTC on Wednesday, 19 March 2025.For the full current version of the article, see Wassily Leontief on Wikipedia.This podcast uses content from Wikipedia under the Creative Commons Attribution-ShareAlike License.Visit our archives at wikioftheday.com and subscribe to stay updated on new episodes.Follow us on Mastodon at @wikioftheday@masto.ai.Also check out Curmudgeon's Corner, a current events podcast.Until next time, I'm generative Joanna.

Is free trade always good for workers? Gene Tunny explores the Stolper-Samuelson theorem, which shows how trade can lower wages for some while benefiting others. He discusses key economic insights from Wolfgang Stolper and Paul Samuelson, real-world historical examples, and the implications for today's global trade debates. If you have any questions, comments, or suggestions for Gene, please email him at contact@economicsexplored.com.Timestamps for EP272Introduction (0:00)Explanation of Comparative Advantage and Free Trade (1:50)Background on Wolfgang Stolper and Paul Samuelson (5:50)The Heckscher-Ohlin Model and Indirect Factor Arbitrage (16:37)Stolper-Samuelson Theorem and Its Implications (26:35)Empirical Evidence and Historical Applications (31:53)Conclusion and Future Directions (32:19)TakeawaysFree Trade Creates Winners and Losers – The Stolper-Samuelson theorem predicts that free trade benefits the owners of a country's relatively abundant factors (e.g., capitalists in capital-rich countries) but can harm the owners of relatively scarce factors (e.g., workers in industrialised economies).Economic Theory Still Favors Free Trade Overall – While trade can hurt specific groups, economists argue that overall national income rises, making it possible (though not always politically feasible) to compensate the losers.Historical Evidence Supports the Underlying Theory – Examples from 19th-century trade patterns show factor price convergence, with land rents rising in the U.S. while falling in Britain due to increased trade.Trade Policy Shapes Political Alliances – Farmers in land-rich nations like Australia and the USA often supported free trade, while industrial workers in capital-rich nations tended to favor protectionism.Links relevant to the conversationThe previous episode with Ian Fletcher:https://economicsexplored.com/2025/01/21/industrial-policy-vs-free-trade-w-ian-fletcher-coalition-for-a-prosperous-america-ep271/Stolper and Samuelson's 1941 paper “Protection and Real Wages”:https://academic.oup.com/restud/article-abstract/9/1/58/1588589William Bernstein's book “A Splendid Exchange: How Trade Shaped the World”:https://www.amazon.com.au/Splendid-Exchange-Trade-Shaped-World/dp/0802144160Roger Backhouse's book “Founder of Modern Economics: Paul A. Samuelson: Volume 1: Becoming Samuelson, 1915-1948”:https://www.amazon.com.au/Founder-Modern-Economics-Samuelson-1915-1948/dp/0190664096Edward Leamer's paper on the Hecksher-Ohlin model in theory and practice:https://ies.princeton.edu/pdf/S77.pdfLumo Coffee promotion10% of Lumo Coffee's Seriously Healthy Organic Coffee.Website: https://www.lumocoffee.com/10EXPLOREDPromo code: 10EXPLORED Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.

Mark T. Hebner is the founder and CEO of Index Fund Advisors, Inc., (IFA), author of the highly regarded book Index Funds: The 12-Step Recovery Program for Active Investors, focused on investor education. Mark's current book and previous editions received praise from financial industry experts and academic luminaries, including John Bogle, David Booth, Burton Malkiel, and Nobel Laureates Harry Markowitz and Paul Samuelson. The book has been nominated as one of the three all-time greatest investment books, along with the writings of John Bogle and Warren Buffett. This book details the possible perils associated with stock picking, mutual fund manager picking, market timing, and other wealth-depleting behaviors. Hebner's 12-Step Program teaches the differences between active and passive investing, explains the emotional triggers that impact investment decisions, and offers an enlightening education on evidence-based investing that may forever change the way an investor perceives the stock market. Hebner is a respected speaker, frequent news contributor and authority on investing. His life's mission is to “change the way the world invests by replacing speculation with education.” Hebner is especially knowledgeable about index funds, portfolio construction and the research indexes designed by Nobel Laureate Eugene Fama and Kenneth French. These indexes provide the building blocks for the prudent evidence-based investment strategies that Hebner implements for his IFA clients. Mark is a Wealth Advisor (Series 65) and has an MBA from the University of California, Irvine and a Bachelor's in Nuclear Pharmacy from the University of New Mexico. He was a member of the Young Presidents' Organization for over 20 years and is currently a member of the World Presidents' Organization and the Chief Executives Organization. Prior to founding Index Fund Advisors in 1999, Mark was President, CEO and co-Founder of Syncor International (previously a public company - SCOR) from 1975 to 1985. In Jan. 2003, Cardinal Health acquired Syncor for approximately $850 million. As a division of Cardinal Health, it is the world's leading provider of nuclear pharmacy services. -- Critical Mass Business Talk Show is Orange County, CA's longest-running business talk show, focused on offering value and insight to middle-market business leaders in the OC and beyond. Hosted by Ric Franzi, business partner at REF Orange County.

This week, Jack Sharry is joined by LifeYield co-founders Mark Hoffman and Paul Samuelson to discuss SEI's acquisition of LifeYield. They explore the strategic implications for LifeYield, the integration of multi-account management, and the potential benefits of Unified Managed Household for clients and the broader industry. They also discuss the comprehensive service capabilities the SEI-LifeYield partnership provides, focusing on improving financial outcomes through advanced tax optimization and holistic portfolio management.  In this episode: (01:18) - What LifeYield's acquisition means for the industry (02:24) - Understanding UMH (10:08) - The importance of tax alpha (15:29) - Product and capability enhancements (17:14) - Distribution and operational capabilities (21:30) - Final thoughts and acknowledgments Quotes “For LifeYield, [the aquisition] means unequivocal validation of the premise that my partners and I founded LifeYield to begin with—that only in managing an investor's coordinated accounts together can one provide the best outcome for those investors.” ~ Mark Hoffman “In order to have success, you need investment software and you need the whole support of onboarding accounts and connecting accounts to just be in the game at all. I can look back at the mistakes I've made, and if I'd had the right advisor equipped with what SEI-LifeYield is going to be equipped with, it would've been much better.” ~ Paul Samuelson Links  LifeYield SEI Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

Taxes are a major concern for both investors and advisors. As such, minimizing tax liability is a priority in wealth management. Asset location, a strategy that places assets in the most tax-efficient accounts, can significantly enhance a portfolio's overall efficiency. While this approach can be a multi-account exercise, having a modern portfolio management system equipped with tax-smart technology can streamline this process and effectively coordinate unified managed household accounts. In this episode, Jack Sharry talks with LifeYield's Founder and Chief Investment Officer, Paul Samuelson, and CEO, Chairman, and Founder Mark Hoffman. Paul has written algorithms that power investment software for more than four decades. He's spent the past 16+ years devising algorithms around minimizing taxes and maximizing retirement income, all part of a robust asset location process. Mark turns Paul's algorithms into industrial-strength software used by many of the largest financial institutions in the world. They discuss asset location and tax-smart strategies to minimize tax liabilities and maximize retirement income. In this episode: [01:46] - Asset location explained [03:05] - The evolution of holistic wealth management [04:36] - What inspired Paul to help advisors produce better outcomes [08:00] - Harnessing the potential of asset location [11:50] - LifeYield's capacity to scale and operationalize asset location  [14:08] - The difference between single-account and multi-account tax-loss harvesting [15:44] - The benefits of modern portfolio management systems [17:29] - The model portfolio in wealth management [18:50] - The importance of asset location to boomers [22:35] - Key takeaways and final thoughts Quotes [04:08] - "Financial planning systems are one good way to look at multiple accounts. And then, to have the financial plan implemented, you really need to consider asset location." ~ Mark Hoffman [06:56] - "Certain assets are likely to be more tax-inefficient, but they don't always land the way you would expect. So, for investors who happen to hold low turnover stock portfolios, you can effectively have quite tax-efficient equity investing as long as you're willing to pay great attention to sales of stock." ~ Paul Samuelson [22:57] - "Asset location, placing the most tax-efficient assets in your taxable accounts and the least tax-efficient assets in the qualified accounts, raises the after-tax return of your portfolio. That means you'll get more balance, which can create more income. Asset location is the dominant form of tax alpha you'll get." ~ Mark Hoffman [23:50] - "The real opportunity in looking at all the household assets is that you're going to be able to pick up some of the client accounts that have been unmanaged or very poorly managed. It's an opportunity for the advisors and a real service to the clients." ~ Paul Samuelson Links  Mark Hoffman on LinkedIn Paul Samuelson on LinkedIn Investment and Wealth Institute Envestnet EY Morningstar Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

HARRIS/WALZ CAMPAIGN ADVANCING PRICE CONTROLS: WHAT ALWAYS GOES WRONG? 3/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today. SEPTEMBER 16, 1920 WALL STREET BOMBING

HARRIS/WALZ CAMPAIGN ADVANCING PRICE CONTROLS: WHAT ALWAYS GOES WRONG? 4/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today. SEPTEMBER 16, 1920 WALL STREET BOMBING

HARRIS/WALZ CAMPAIGN ADVANCING PRICE CONTROLS: WHAT ALWAYS GOES WRONG? 2/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today. SEPTEMBER 16, 1920 WALL STREET BOMBING

HARRIS/WALZ CAMPAIGN ADVANCING PRICE CONTROLS: WHAT ALWAYS GOES WRONG? 1/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today. SEPTEMBER 16, 1920 WALL STREET BOMBING

In this episode, show host Gene Tunny explores the influential theories of economists Alvin Hansen, the “American Keynes", and Evsey Domar. The episode was inspired by a first edition copy of Hansen and Perloff's 1944 book “State and Local Finance in the National Economy” that Gene was gifted. It includes a handwritten inscription from Hansen to Domar, his student at Harvard. Key topics include the Keynesian IS-LM model, the secular stagnation hypothesis, and the Harrod-Domar growth model. The episode provides a rich historical context and examines the relevance of these theories to today's economic challenges.If you have any questions, comments, or suggestions, please email us at contact@economicsexplored.com  or send a voice message via https://www.speakpipe.com/economicsexplored. What's covered in EP245Book by Alvin Hansen and Harvey Perloff on State and Local Finance in the National Economy. (0:00)Alvin Hansen's contributions to economics, including popularizing Keynes's theory and teaching influential students such as Paul Samuelson and Evsey Domar. (5:06)IS-LM model. (11:13)Keynesian economics and secular stagnation hypothesis. (17:42)Fiscal policy and its impact on the economy. (25:28)Domar's life and growth model. (32:29)Harrod-Domar model and its implications for economic policy. (39:00)Economic growth models and their limitations. (45:22)TakeawaysSecular Stagnation Hypothesis: Hansen's theory suggesting that mature economies could face prolonged periods of low growth due to structural factors.IS-LM Model: Developed by Hansen and Hicks, this model became a foundational tool in macroeconomics for analyzing the effects of fiscal and monetary policy.Fiscal Perversity Hypothesis: Hansen and Perloff's analysis showing that state and local fiscal policies can sometimes exacerbate economic downturns.Harrod-Domar Growth Model: An important Keynesian model that emphasizes the relationship between investment and economic growth, though not fully explaining long-term growth.Legacy and Influence: Both Hansen and Domar significantly shaped the development of economic theory and policy, influencing key areas such as social security and public investment strategies.Links relevant to the conversationInscription from Hansen to Domar on Gene's copy of State and Local Finance in the National Economy:https://drive.google.com/file/d/167cJbNhxBJpsKRwSYGHxbjupX1Q3Iacx/view?usp=sharingWilliam Easterly's paper on the Harrod-Domar model:https://papers.ssrn.com/sol3/papers.cfm?abstract_id=11020Fiscal perversity papers:Fabrizio Carmignani's article “Can public expenditure stabilize output? Multipliers andpolicy interdependence in Queensland and Australia”:https://www.sciencedirect.com/science/article/abs/pii/S0313592615300242?via%3DihubTamim Bayoumi and Barry Eichengreen's paper “Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization”:https://www.elibrary.imf.org/view/journals/024/1995/001/article-A002-en.xmlAn abridged version of Skidelsky's three-volume biography of Keynes:https://www.penguin.com.au/books/john-maynard-keynes-9780143036159Lumo Coffee promotion10% of Lumo Coffee's Seriously Healthy Organic Coffee.Website: https://www.lumocoffee.com/10EXPLOREDPromo code: 10EXPLORED Thanks to Obsidian Productions for mixing the episode and to the show's sponsor, Gene's consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.

THE KEYNESIANISM DEBATE CONTINUES: 1/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.  1889 MANCHESTER

THE KEYNESIANISM DEBATE CONTINUES: 2/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.  1902 DUBLIN

THE KEYNESIANISM DEBATE CONTINUES: 3/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.  1914

THE KEYNESIANISM DEBATE CONTINUES: 4/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.  1926 HYDE PARK

PREVIEW: Keynesianism: From a conversation later tonight with author Nicholas Wapshott re the debate in the pages of Newsweek in the 1960s between those who believe Keynes theory of spending as an answer to recession (Paul Samuelson)  vs those who believe spending causes inflation which contributes to underperformance(Milton Friedman).   Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. 1925 Calvin Coolidge (not a Keynesian) throws out the first ball of the season.

Mit Rüdiger Bachmann und Christan Bayer. Wir beginnen mit einem Werkstattbericht und reden darüber, wie Juniorprofessuren vergeben werden, dann natürlich über Subventionen und die Landwirtschaft, und außerdem war Rüdiger wieder auf der ASSA in San Antonio und hat Phillipskurven mitgebracht. Darin: Robert Solow, Paul Samuelson, BMEL: Agrarexporte, Philips-Kurve, Keynesianismus, Goodfriend, King: The incredible Volcker disinflation, Benigno, Eggertsson: It's […]

Paul Samuelson's rich experiences with many of the great investors of his time have provided him with valuable wisdom for the wealth management industry. From the birth of modern finance to the nuances of tax management, his journey highlights the need for innovative solutions and tax-smart technologies that empower financial advisors and firms to minimize tax burdens and optimize retirement income strategically.  In this episode, Jack talks with Paul Samuelson, Chief Investment Officer at LifeYield. Paul comes from an extended family of prominent economists and advisors to presidents. He has carried on the Samuelson tradition, writing the complex algorithms at the core of LifeYield technology that empowers financial advisors and firms to minimize clients' taxes and maximize their retirement income. Paul talks with Jack about the notable investors he spent time with, including his father, the first American to win the Nobel Prize in Economics. He shares the lessons he learned from those experiences and how he put them into practice. Paul also discusses the need for software solutions to manage taxes and optimize investment portfolios effectively. Key Takeaways [01:33] - Paul's experience with great investors. [08:26] - The evolution of the economics department at MIT. [10:37] - The first American to receive a Nobel Prize in Economics. [15:20] - Paul's colleagues at the Ford Foundation. [19:33] - Lessons Paul learned from great investors. [25:14] - The birth of LifeYield. [26:45] - The importance of tax software. [29:03] - What motivated Paul and his father to develop tax software. [31:13] - Lessons learned from engaging with highly intelligent economics experts. Quotes [31:33] - "If investing is not your expertise and doesn't necessarily help you, it may hurt you to be an expert in other areas of economics." ~ Paul Samuelson [31:53] - "You need software for everything because everything depends on the exact numbers. And you need good tax calculating software to know what brackets you're going to use." ~ Paul Samuelson [35:46] - "The academic finance profession has let people down because they haven't looked at taxes very seriously. There should have been better formulations of tax calculations and different ways to manage taxes before and after retirement." ~ Paul Samuelson Links  Paul Samuelson on LinkedIn Massachusetts Institute of Technology Robert Merton William Sharpe Harry Markowitz Robert Solow Fischer Black Myron Scholes David Rockefeller Walter Wriston Dean LeBaron Jeremy Grantham John Templeton Mark Hoffman Michael Benedek Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

Steve Keen joins Bob to commiserate on the poverty of Paul Krugman, and to make the case for Hyman Minksy. An all around fun, informative conversation.Mentioned in the Episode and Other Links of Interest:The YouTube version of this interview.Steve Keen's substack and Patreon.Steve Keen's Debunking Economics podcast.Gene Callahan and Bob Murphy review of Keen's Debunking Economics.Bob's article on Paul Samuelson's "A Summing Up" (from the Cambridge Capital Controversy).Bob's article on Eugene Fama on the housing bubble.Bob's critique of Nordhaus' DICE model.Help support the Bob Murphy Show.

David Mitch, an economic historian and professor of economics at the University of Maryland Baltimore County, joins the podcast to discuss the The Chicago School of Economics, including his 2016 Journal of Political Economy paper which uncovered how on the University of Chicago economics department nearly hired economists Paul Samuelson and John Hicks over Milton Friedman in 1946, along with David's work on economic growth including arguing how incentives for governments to promote growth historically may have been more to promote militarism than maximize the welfare of its citizens.  Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Scarcity: A History from the Origins of Capitalism to the Climate Crisis (Harvard UP, 2023) is a sweeping intellectual history of the concept of economic scarcity—its development across five hundred years of European thought and its decisive role in fostering the climate crisis. Modern economics presumes a particular view of scarcity, in which human beings are innately possessed of infinite desires and society must therefore facilitate endless growth and consumption irrespective of nature's limits. Yet as Fredrik Albritton Jonsson and Carl Wennerlind show, this vision of scarcity is historically novel and was not inevitable even in the age of capitalism. Rather, it reflects the costly triumph of infinite-growth ideologies across centuries of European economic thought—at the expense of traditions that sought to live within nature's constraints. The dominant conception of scarcity today holds that, rather than master our desires, humans must master nature to meet those desires. Albritton Jonsson and Wennerlind argue that this idea was developed by thinkers such as Francis Bacon, Samuel Hartlib, Alfred Marshall, and Paul Samuelson, who laid the groundwork for today's hegemonic politics of growth. Yet proponents of infinite growth have long faced resistance from agrarian radicals, romantic poets, revolutionary socialists, ecofeminists, and others. These critics—including the likes of Gerrard Winstanley, Dorothy Wordsworth, Karl Marx, and Hannah Arendt—embraced conceptions of scarcity in which our desires, rather than nature, must be mastered to achieve the social good. In so doing, they dramatically reenvisioned how humans might interact with both nature and the economy. Following these conflicts into the twenty-first century, Albritton Jonsson and Wennerlind insist that we need new, sustainable models of economic thinking to address the climate crisis. Scarcity is not only a critique of infinite growth, but also a timely invitation to imagine alternative ways of flourishing on Earth. Fredrik Albritton Jonsson is the Associate Professor of British History at the University of Chicago. His current research deals with a set of closely related themes in environmental history, history of science, and political economy.  Carl Wennerlind is the Professor of History and Chair at Barnard College, Columbia University. He specializes in the history of early modern Europe, with a focus on intellectual history and political economy. He is particularly interested in the historical development of ideas about money and credit; ideas on the relationship between economy and nature; and ideas about "improvement" and "modernization." Thomas Edward Kingston is a Berkeley Fellow in South and Southeast Asian Studies and PhD Student with a designated emphasis in Political Economy at the University of California, Berkeley Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Scarcity: A History from the Origins of Capitalism to the Climate Crisis (Harvard UP, 2023) is a sweeping intellectual history of the concept of economic scarcity—its development across five hundred years of European thought and its decisive role in fostering the climate crisis. Modern economics presumes a particular view of scarcity, in which human beings are innately possessed of infinite desires and society must therefore facilitate endless growth and consumption irrespective of nature's limits. Yet as Fredrik Albritton Jonsson and Carl Wennerlind show, this vision of scarcity is historically novel and was not inevitable even in the age of capitalism. Rather, it reflects the costly triumph of infinite-growth ideologies across centuries of European economic thought—at the expense of traditions that sought to live within nature's constraints. The dominant conception of scarcity today holds that, rather than master our desires, humans must master nature to meet those desires. Albritton Jonsson and Wennerlind argue that this idea was developed by thinkers such as Francis Bacon, Samuel Hartlib, Alfred Marshall, and Paul Samuelson, who laid the groundwork for today's hegemonic politics of growth. Yet proponents of infinite growth have long faced resistance from agrarian radicals, romantic poets, revolutionary socialists, ecofeminists, and others. These critics—including the likes of Gerrard Winstanley, Dorothy Wordsworth, Karl Marx, and Hannah Arendt—embraced conceptions of scarcity in which our desires, rather than nature, must be mastered to achieve the social good. In so doing, they dramatically reenvisioned how humans might interact with both nature and the economy. Following these conflicts into the twenty-first century, Albritton Jonsson and Wennerlind insist that we need new, sustainable models of economic thinking to address the climate crisis. Scarcity is not only a critique of infinite growth, but also a timely invitation to imagine alternative ways of flourishing on Earth. Fredrik Albritton Jonsson is the Associate Professor of British History at the University of Chicago. His current research deals with a set of closely related themes in environmental history, history of science, and political economy.  Carl Wennerlind is the Professor of History and Chair at Barnard College, Columbia University. He specializes in the history of early modern Europe, with a focus on intellectual history and political economy. He is particularly interested in the historical development of ideas about money and credit; ideas on the relationship between economy and nature; and ideas about "improvement" and "modernization." Thomas Edward Kingston is a Berkeley Fellow in South and Southeast Asian Studies and PhD Student with a designated emphasis in Political Economy at the University of California, Berkeley Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/history

Scarcity: A History from the Origins of Capitalism to the Climate Crisis (Harvard UP, 2023) is a sweeping intellectual history of the concept of economic scarcity—its development across five hundred years of European thought and its decisive role in fostering the climate crisis. Modern economics presumes a particular view of scarcity, in which human beings are innately possessed of infinite desires and society must therefore facilitate endless growth and consumption irrespective of nature's limits. Yet as Fredrik Albritton Jonsson and Carl Wennerlind show, this vision of scarcity is historically novel and was not inevitable even in the age of capitalism. Rather, it reflects the costly triumph of infinite-growth ideologies across centuries of European economic thought—at the expense of traditions that sought to live within nature's constraints. The dominant conception of scarcity today holds that, rather than master our desires, humans must master nature to meet those desires. Albritton Jonsson and Wennerlind argue that this idea was developed by thinkers such as Francis Bacon, Samuel Hartlib, Alfred Marshall, and Paul Samuelson, who laid the groundwork for today's hegemonic politics of growth. Yet proponents of infinite growth have long faced resistance from agrarian radicals, romantic poets, revolutionary socialists, ecofeminists, and others. These critics—including the likes of Gerrard Winstanley, Dorothy Wordsworth, Karl Marx, and Hannah Arendt—embraced conceptions of scarcity in which our desires, rather than nature, must be mastered to achieve the social good. In so doing, they dramatically reenvisioned how humans might interact with both nature and the economy. Following these conflicts into the twenty-first century, Albritton Jonsson and Wennerlind insist that we need new, sustainable models of economic thinking to address the climate crisis. Scarcity is not only a critique of infinite growth, but also a timely invitation to imagine alternative ways of flourishing on Earth. Fredrik Albritton Jonsson is the Associate Professor of British History at the University of Chicago. His current research deals with a set of closely related themes in environmental history, history of science, and political economy.  Carl Wennerlind is the Professor of History and Chair at Barnard College, Columbia University. He specializes in the history of early modern Europe, with a focus on intellectual history and political economy. He is particularly interested in the historical development of ideas about money and credit; ideas on the relationship between economy and nature; and ideas about "improvement" and "modernization." Thomas Edward Kingston is a Berkeley Fellow in South and Southeast Asian Studies and PhD Student with a designated emphasis in Political Economy at the University of California, Berkeley Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/intellectual-history

Scarcity: A History from the Origins of Capitalism to the Climate Crisis (Harvard UP, 2023) is a sweeping intellectual history of the concept of economic scarcity—its development across five hundred years of European thought and its decisive role in fostering the climate crisis. Modern economics presumes a particular view of scarcity, in which human beings are innately possessed of infinite desires and society must therefore facilitate endless growth and consumption irrespective of nature's limits. Yet as Fredrik Albritton Jonsson and Carl Wennerlind show, this vision of scarcity is historically novel and was not inevitable even in the age of capitalism. Rather, it reflects the costly triumph of infinite-growth ideologies across centuries of European economic thought—at the expense of traditions that sought to live within nature's constraints. The dominant conception of scarcity today holds that, rather than master our desires, humans must master nature to meet those desires. Albritton Jonsson and Wennerlind argue that this idea was developed by thinkers such as Francis Bacon, Samuel Hartlib, Alfred Marshall, and Paul Samuelson, who laid the groundwork for today's hegemonic politics of growth. Yet proponents of infinite growth have long faced resistance from agrarian radicals, romantic poets, revolutionary socialists, ecofeminists, and others. These critics—including the likes of Gerrard Winstanley, Dorothy Wordsworth, Karl Marx, and Hannah Arendt—embraced conceptions of scarcity in which our desires, rather than nature, must be mastered to achieve the social good. In so doing, they dramatically reenvisioned how humans might interact with both nature and the economy. Following these conflicts into the twenty-first century, Albritton Jonsson and Wennerlind insist that we need new, sustainable models of economic thinking to address the climate crisis. Scarcity is not only a critique of infinite growth, but also a timely invitation to imagine alternative ways of flourishing on Earth. Fredrik Albritton Jonsson is the Associate Professor of British History at the University of Chicago. His current research deals with a set of closely related themes in environmental history, history of science, and political economy.  Carl Wennerlind is the Professor of History and Chair at Barnard College, Columbia University. He specializes in the history of early modern Europe, with a focus on intellectual history and political economy. He is particularly interested in the historical development of ideas about money and credit; ideas on the relationship between economy and nature; and ideas about "improvement" and "modernization." Thomas Edward Kingston is a Berkeley Fellow in South and Southeast Asian Studies and PhD Student with a designated emphasis in Political Economy at the University of California, Berkeley Learn more about your ad choices. Visit megaphone.fm/adchoices

自由的窄巷．錯過了的改革究竟三十四年前發生過甚麼事？還有些甚麼要知道的事，被主流論述所忽略？Daron Acemoglu 與 James A. Robinson 在 2019 年出版的《自由的窄巷》 (The Narrow Corridor: States, Societies, and the Fate of Liberty) 提出，任何一個國家在發展的過程中，都會面對一個兩難取捨。假如國家機器積弱太深，結果將會是一個「失敗國家」（failed state）；情況就好像那些長期停留極度貧困的落後國家那樣。另外一邊的情況就是，當社會進步過程的時候，國家機器也會同時膨脹；若然社會和市場未能在國家機器大到不能倒之前，發展出一個能夠與之制衡的力量；國家機器將吞噬一切，最終導致社會走向極權統治。中共一直向民眾灌輸一個想法：「沒有一個強而有力的統一政權，中國大陸就會亂。」所謂的亂，就是以上所講的「失敗國家」；當中包括了中國自古以來的社會治安、地方衝突、階級剝削、外敵入侵等。說穿了，中共就是希望全世界相信：「沒有中共，中國大陸的會更差，而且是非常的差。」我相信就算在香港人當中，也有不少人是這樣想的。中國就是這樣又一次錯過改革的機會。在 1980 年代，與這個《自由的窄巷》擦身而過。1989 年之後，也沒有甚麼可以制衡中共的膨脹。歷史再次證明，並不是每一個地方，都會因為經濟發展而變成一個自由開放的社會。有很多國家，當經濟發展到一定的地步，就停滯不前，那就是所謂的「中等收入陷阱」；另一邊廂，這些國家亦會維持在專制獨裁的狀態。歷史沒有如果，我不敢說若然 1989 年的民運成功改變了中共，究竟往後的世界會怎樣發展。但下次要是再有同樣的契機，歷史的意義，就是讓未來的我們，可以更清楚地去思考我們將會要作出的決擇。八九之後．新冷戰的序幕當解放軍在天安門鎮壓學生運動，同一日，波蘭國會舉行二戰後首次國會大選，也是由這一幕，標誌了蘇聯的落幕。在往後的兩年多，整個蘇聯分裂成兩個主要陣營。一邊是漸漸走向自由民主的東歐和波羅的海國家。另一邊，則是希望繼續維持蘇聯的既得利益者；但當中仍然有改革派和死硬派的鬥爭。有些改革派被趕下台，但死硬派也嘗試過在 1991 年 8 月發動政變，企圖推翻溫戈爾巴喬夫。最終，在 1991 年 12 月聖誕節後，蘇聯正式結束。取而代之是同樣以莫斯科為核心的聯邦政府。除了那些已經開始體制轉型的東歐和波羅的海國家，其他新成立的國家，多數延續了過去蘇聯的權力結構；甚至乎連當權的那些人，還是蘇聯時代的幹部。唯一的分別，就是莫斯科對各地的影響力越來越薄弱。所以，1992 年初鄧小平「講誰不改革誰就下台」，他的對象當然是黨內的死硬派，但這句話的時空背景是蘇聯瓦解。所以，誰不改革誰就下台，其實也是關乎整個中國共產黨本身，言下之意就是：「中國共產黨如果不想落得蘇聯那樣的下場，就只有繼續堅持發展經濟。」在中共眼中，蘇聯敗於經濟。事實上，蘇聯龐大的版圖內，有極豐富的天然資源，當中包括了能源和礦產。由史太林年代開始，蘇聯不計人命成本地開採天然資源，用來推進急速工業化，尤其是重工業，這也是計劃經濟的思維模式。與此同時，蘇聯不但對東歐以及中亞地區，推行類似的經濟改造，莫斯科也同時透過教育，不但培養技術和工程人員，也令各民族文化俄羅斯化。總而言之，蘇聯就是透過由上而下的資源分配，以控制版圖裡各地以及衛星國；而當中最重要的兩個經濟元素，第一是能源和天然資源，第二是技術。很多人誤以為，追求經濟發展就等於資本主義，因為鄧小平也主張發展經濟，所以鄧小平也是走資本主義的路。甚至很多著名的經濟學者，也跌入了簡單的二元對立政治價值觀，以為相對於資本主義市場經濟，就是共產主義。對不起，這是邏輯上的低級錯誤；再者，計劃經濟才是最強調經濟發展的政治體制；只不過計劃經濟信徒認為經濟發展是國家大事，不能讓人民自把自為。在 1960、70 年代，那怕是美國的經濟學泰斗 Paul Samuelson ，也認為蘇聯最終會取代美國，成為世界最強大的社會主義經濟。但自 1980 年代起，蘇聯的計劃經濟，開始浮現各種問題。相反，中共自 1978 年改革開放，後來卻被全世界的經濟學家奉為奇蹟。究竟蘇聯發生甚麼事？教科書說，計劃經濟早晚會出現這種失衡；但蘇聯已經執行計劃經濟多年，為何要到 1980 年代問題才浮現？另外，難道中共在 1980 年代就放棄了計劃經濟？首先，在 1970 年代，蘇聯因為能源和天然資源自給自足，所以避過了一劫 。但 1980 年代之後，能源和天然資源價格急跌，歐美開發了更多新的石油供應；全球化使工業生產轉到新興市場，借廉價勞動力降低成本。如是者，歐美捱過了轉營的陣痛，進入後工業時代，高度金融化的經濟發展遠勝從前。所以，1980 年代的蘇聯不只絕對上變差了，而是明顯地比了下去。任何高度集中的權力結構，都必然面對幾問題，包括：體制臃腫、管治成本高昂等。可以有效管得到的事不多，更多事想控制但變得失控，尤其是新興的社會和經濟現象，又或者在權力核心外圍，領土的邊陲，又或者是少數民族。當這些外圍都見到坐鎮莫斯科的老大哥，原來是無牙老虎，帝國統治亦進入倒數階段。東歐和波羅的海三國，最受西方社會的影響，所以也是最早出現轉變。後來的一浪，就是南歐、烏克蘭和格魯吉亞等。其實蘇聯的解瓦，是個至今仍然未完成的過程。蘇聯是中共的惡夢，所以明白到當年發生了甚麼事，基本上可以解釋大多數中共的決定和主張。為甚麼要搞一帶一路？為甚麼要控制中亞？除了要填補當年蘇聯留下來的真空，也要將美國的影響力趕出去，亦同時為了控制由中亞輸入礦產和能源的通道。為甚麼中共要在經濟和科技上追上美國？也是因為不想步蘇聯的後塵。更重要是，在中共領導人眼中，他們無論如何都不可以犯蘇聯同樣的錯誤。所以，中共對新疆、西藏、香港和台灣如此著緊，絕不能夠讓這些地方變成中國的波蘭、捷克又或者波羅的海三國。彭定康在 1992 年上任後旋即提出香港的政改，對中共來講猶如一次正面挑釁。再者，如果能夠從宏觀角度，回顧在那些年發生過的事，可以斷言，中共從香港特區成立的第一日，就沒有打算讓香港有真正的雙普選。順帶一提，為甚麼要人民幣國際化？重點是要建立一個以人民幣發債的機制；尤其是日本經濟泡沫爆破後，中國大陸政府應該很清楚，以本國貨幣發債的最大好處，就是可以避免了貨幣危機。只要能夠避免貨幣危機，就可以避免出現超級通脹。加上人民幣不能自由兌換，中共相信已經作了最壞打算，就是最差的情況，太不了就像日本那樣，靜靜地等待下次再「發圍」的機會，那怕是二十年、三十年。在漫長的衰退中，大不了是人民的意志消沈，民族主義也成為了政治上的精神科藥物。簡單總結過去三十多年中共的政策方針，就是盡一切可能避免蘇聯化。總之，中共從來沒有打算放棄統治，亦不容許有這個可能的出現。八九之前．三個被遺忘的中共領導人中共的歷史和文宣，恐怕是連 George Orwell 也會覺得：「他們不會是我的忠實讀者吧。」就以歷年的國家領導人為例，在中共的文宣和黨史當中，彷彿毛澤東死後，中共就進入了鄧小平年代。但其實曾經掌握大權的人還有華國鋒、胡耀邦和趙紫陽。在民間，華國鋒被視為一個庸碌之輩，但別忘了他是歷史唯一集中央軍委主席、黨主席、國務院總理於一身的人，就連毛澤東也沒有那麼多權力。但權力再多，處理不了經濟問題，就無法令黨內既得利益者服氣。鄧小平的主張，贏到黨內各大山頭的支持，原因是掌握了軍權的大佬們，寧願相信鄧小平有能力將黨國拉回到正常的狀態。但話雖如此，鄧小平要完全地將華國鋒趕出政治舞台，也花了近五年時間。華國鋒在 1981 年 6 月，才被迫辭去中共中央主席以及中央軍委主席。更值得香港人留意是，雖然麥理浩在 1979 年 3 月到北京訪問當時的中國國務院副總理鄧小平，但中英談判一直要到 1982 年才正式開始。一個聰明的政治人物，總會為自己留下點甚麼歷史意義。鄧小平除了代表改革開放，他的另一個歷史意義就是「對香港恢復行使主權」；其實兩件事二之為一。 香港和中國的改革開放，是密不可分的。當然他還有第三個身份，就是他避免了中共像蘇聯那樣被瓦解。在另一邊廂，他亦因此背負了 1989 年鎮壓學生的罪名。更嚴格一點去講，中共為了捍衛自己的存在，從來都是不惜犧牲人的性命和自由，那怕是國家的精英，甚至連黨內的最高領導人，有必要時，這個黨也一樣可以犧牲，例子有胡耀邦和趙紫陽。話說在華國鋒被迫交出權力之後，胡耀邦接替中共中央主席一職。胡耀邦也是中共歷史上最後一位主席。但中共很少提到這一點；尤其是因為 1989 年各地的民主運動，觸發點就是悼念這位中共最後的主席。胡耀邦在 1982 年的中共十二大上，廢除主席、副主席等職位，自己出任總書記並確立集體領導制度。這個決定，一來為了是避免再出現一個像毛澤東般的人物，畢竟當時的中共領導人，當中不少都有「文革創傷後遺症」，這個做法大家都不會有異議。但更重要是，他們深知中共要延續下去，首要處理權力繼承的問題。所以，集體領導制度以外，胡耀邦亦提出了「廢除幹部領導職務終身制」。但正當胡耀邦著手準備的中共十三大時， 1986 年中國大陸十七個大城市爆發「丙寅學運」。中共內部集體對胡耀邦進行人身攻擊，指控他到基層視察的次數太多，縱容全盤西化的要求，只批左不批右，鼓勵經濟過快增長等；綜合以上就是讓資產階級自由化。我無意抬舉胡耀邦，但從歷史的角度，任何政治體制要出現轉變，往往是由制度內的權力核心開始。胡耀邦當年想推動黨內民主，專業化黨治，然後由體制內到外的出現轉變，那很可能就是近代中國改革的唯一契機。甚至應該說，是因為 1986 年的體制改革失敗，才醞釀 1989 年的民主運動。無獨有偶，1986 年戈爾巴喬夫也在提出「政治開放」（glasnost）和「經濟改革」（peristroika）。可以說，中蘇兩國處境應該差不多，只不過一直以來，很少人會橫向地看歷史，亦因此忽略了宏觀因素的影響。 但在中共眼中，就是因為 1986 和 1989 年的強硬鐵腕政策，政權才能夠維持至今。除了華國鋒和胡耀邦，被中共遺忘的第三個領導人，是趙紫陽。今時今日，很多人都記得趙紫陽到在天安門廣場對學生說自己來得太晚了。但到了趙紫陽站在天安門廣場的一刻，那怕是中共總書記，亦改變不了任何決定。中共的本質就是一個連 George Orwell 也意想不到的老大哥；更諷刺是，原來老大哥卻在現實中，跟我們這麼近那麼遠。偏偏這個來自遠東的老大哥，總是給予外界一種沒有殺傷力的感覺。鄧小平退下來之後，中共表面上經歷過兩次和平權力轉移；第一次是由江澤民交出權力予胡錦濤，第二次是胡錦濤交出權力予習近平。當然我們也知道，背後還是有暗湧和各種明爭暗鬥，這也是為何在權力交到習近平手上之後，然後就沒有然後了。八九六四與香港對很多香港人來講，1989 年是他們的政治啟蒙；就正如 2014 年的雨傘運動，以及 2019 年的反送中。當然，沒有必要將這三個時代的香港人，夾硬地綑綁在一起；我甚至見到，有不少本土派認為，中國的政治改革與香港無關，與他們無關。但現實當中，那怕是我們這些已經移居到英、美、澳、紐、加、歐洲、日本、東南亞的香港人，一樣避免不了被中共的影響力。在那龐大政治力場範圍內的香港，真的可以獨善其身嗎？自從 2019 年，我們都應該明白，所謂的一國兩制，根本不是為了讓香港人安心而提出的。一國兩制，是堵防火牆，目的是為了讓中國大陸可以享受到國際金融秩序帶來的各種好處，但同時又可以避免了制度改革的需要。中共透過香港集資，改裝造了落後的計劃經濟，中共也有資源，繼續以獨裁專制的模式經營國家。某程度上，中共就像一間不斷有子公司可以分析的大企業，不斷借香港集資。本來的共識是：「香港可以繼續是自由的經濟城市。」 在另一邊廂，也有些香港人，尤其是那些自以為聰明絕頂的那些權貴，妄想中共因為要繼續集資，所以要與他們共治這個城市。他們以為，只要好好服務中國，就可以永遠地賺取豐厚的收入和財富，同時享受自由社會的各種好處。但 2019 年，也就是 1989 年的三十周年，歷史告訴我們，一國兩制也好，共治也好，只是一時的權宜之計。中共一直都只是視香港為工具，工具一旦失去了功用，又或者甚至成為威脅，香港是個可以隨時放棄的棋子。不要忘記，反廿三條地產黨有發功，否則也不會有田北俊的倒戈。反送中，在最初時也有地產黨的影響；當時不只是大劉，其實從細節中，也可以見到親商界的建制派議員，往往「柒做認真事」、「認真做柒事」，送中條例最終才因此「壽終正寢」。北京當然也不是「懞到上心口」。所以在反送中之後，北京通過國安法，改變特區政府，改變選舉制度，一直潛藏在香港的新香港人，忽然浮上水面。一切都在說明，北京不信任香港人，甚至視之為忠誠的廢物。今天的香港行政長官以及各權貴，已經完全被摒棄在中共權力核心範圍以外；說得更白一點，就是連「自稱奴才的資格也沒有」。另外，從今年見到官媒助長各種對香港的窮追猛打，「報仇咁仇」，可以想像往後的日子，「香港人」這三個字，將會被不斷貶抑。很難想像，假如沒有香港，中共當年如何可單靠勞動力密集的出口工業，可以走到今天這一步。中國大陸 1980 年代，才成為世界工廠；但當時香港的角色，就是為中國找訂單，提供貿易融資。1990 年代，蘇聯結束七十年統治，中共才開始察覺到，要借助金融業的力量，急起直追。中共，其實要感謝英國留下了香港這個金融中心，彌補了它那個制度的一個重要缺口。但如今連香港也被吞噬，中共剩下的唯一選項，似乎就只倒退更封閉的狀態。很多人可能會覺得這個決定很不合理，很瘋狂，但別忘了，獨裁政權為了統治集團的利益，是不惜一切代價，因為反正大多數的代價，是由民眾去負擔。只要倒退的速度不至於令到整個社會體系崩潰，中國人就是出名能夠捱苦的。難道回到極權和獨裁，就是中國歷史的宿命？聰明的你也應該見到以下幾個問題：（一）無論一個職位如何崇高，可以永續多少次，最大的限制還是人類生命的極限；老、病、死這幾個劫；（二）任何獨裁專制，權力轉移之時也就是最脆弱的時刻；所以可以大膽說，未來十五年至二十年，神奇國度還是有個關口。中共避忌八九六四，不是他們面對不了過去，而是因為他們害怕未來。紀念八九六四，不是純粹的紓發情感；為了讓未來的人，當再次面臨轉變的決擇時，有更大機會不再犯前人的錯。我們要了解歷史，要知道當年中國是如何錯過這改革的時機，這個自由的窄巷。 This is a public episode. 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Photo: No known restrictions on publication. @Batchelorshow #Debating Systemic Risk again: 2/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy.

Photo: No known restrictions on publication. @Batchelorshow #Debating Systemic Risk again: 3/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy.

Photo: No known restrictions on publication. @Batchelorshow #Debating Systemic Risk again: 4/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy.

Photo: No known restrictions on publication. @Batchelorshow #Debating Systemic Risk again: 1/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy.

David Mitch, an economic historian and professor of economics at the University of Maryland Baltimore County, joins the podcast to discuss the The Chicago School of Economics, including his 2016 Journal of Political Economy paper which uncovered how on the University of Chicago economics department nearly hired economists Paul Samuelson and John Hicks over Milton Friedman in 1946, along with David's work on economic growth including arguing how incentives for governments to promote growth historically may have been more to promote militarism than maximize the welfare of its citizens.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Photo: No known restrictions on publication. Demolition of J.P. Morgan offices 23 Wall Street, May 1923. @Batchelorshow 1/4: Samuelson Friedman: The Battle Over the Free Market by  Nicholas Wapshott  (Author) https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market/dp/0393285189/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr= In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy.

Photo: No known restrictions on publication. Morgan interior @Batchelorshow 2/4: Samuelson Friedman: The Battle Over the Free Market by  Nicholas Wapshott  (Author) https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market/dp/0393285189/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr= In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy.

Photo: No known restrictions on publication. Morgan interior @Batchelorshow 3/4: Samuelson Friedman: The Battle Over the Free Market by  Nicholas Wapshott  (Author) https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market/dp/0393285189/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr= In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy.

Photo: No known restrictions on publication. Bankers Trust Building 1912 @Batchelorshow 4/4: Samuelson Friedman: The Battle Over the Free Market by  Nicholas Wapshott  (Author) https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market/dp/0393285189/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr= In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy.

Photo: No known restrictions on publication. @Batchelorshow 3/4: On the eve of the Recession Of 2023: 3/4: Samuelson Friedman: The Battle Over the Free Market, by Nicholas Wapshott  https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles.

Photo: No known restrictions on publication. @Batchelorshow 4/4: On the eve of the Recession Of 2023: 4/4: Samuelson Friedman: The Battle Over the Free Market, by Nicholas Wapshott  https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles.

Photo: No known restrictions on publication. 1908 Gotham @Batchelorshow 1/4: On the eve of the Recession Of 2023: 1/4: Samuelson Friedman: The Battle Over the Free Market, by Nicholas Wapshott  https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles.

Photo: No known restrictions on publication. @Batchelorshow 2/4: On the eve of the Recession Of 2023: 2/4: Samuelson Friedman: The Battle Over the Free Market, by Nicholas Wapshott  https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles.

Photo: No known restrictions on publication. @Batchelorshow Photo: No known restrictions on publication. @Batchelorshow 1/4: The roots of Stagflation Review: 1/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.

Photo: No known restrictions on publication. @Batchelorshow Photo: No known restrictions on publication. @Batchelorshow 2/4: The roots of Stagflation Review: 2/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.

Photo: No known restrictions on publication. @Batchelorshow Photo: No known restrictions on publication. @Batchelorshow 3/4: The roots of Stagflation Review: 3/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.

Photo: No known restrictions on publication. @Batchelorshow Photo: No known restrictions on publication. @Batchelorshow 4/4: The roots of Stagflation Review: 4/4: Samuelson Friedman: The Battle Over the Free Market. by Nicholas Wapshott . https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.

Photo: No known restrictions on publication. @Batchelorshow 1/4: Samuelson Friedman: The Battle Over the Free Market, by Nicholas Wapshott  https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles.

Photo: No known restrictions on publication. @Batchelorshow 2/4: Samuelson Friedman: The Battle Over the Free Market, by Nicholas Wapshott  https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles.

Photo: No known restrictions on publication. @Batchelorshow 3/4: Samuelson Friedman: The Battle Over the Free Market, by Nicholas Wapshott  https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles.

Photo: No known restrictions on publication. @Batchelorshow 4/4: Samuelson Friedman: The Battle Over the Free Market, by Nicholas Wapshott  https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles.

Photo: A distinguished economist, Robert Mundell, whom the world has recently lost. CBS Eye on the World with John Batchelor CBS Audio Network @Batchelorshow Nicholas Wapshott #UNBOUND. Samuelson Friedman: The Battle Over the Free Market. The complete, forty-minute interview, July 24, 2016. https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.

Photo:   Financial folly, Germany CBS Eye on the World with John Batchelor CBS Audio Network @Batchelorshow Nicholas Wapshott #UNBOUND. Samuelson Friedman: The Battle Over the Free Market. The complete, forty-minute interview, July 24, 2016. https://www.amazon.com/Samuelson-Friedman-Battle-Over-Market-ebook/dp/B08589Z7M9/ref=sr_1_1?dchild=1&keywords=Nicholas+Wapshott+%2B+samuelson&qid=1627690920&s=digital-text&sr=1-1 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes's General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, the author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don't care who writes a nation's laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott's nimble hands, Samuelson and Friedman's decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.

This episode was recorded on September 8th 2021.Saifedean Ammous is an expert on Bitcoin with a PhD from Columbia University. He joins Dr. Peterson to discuss decentralization, different schools of economics, the Fiat vs. Bitcoin standards, and much more.Dr. Ammous is the author of The Bitcoin Standard, widely considered the essential book on the economics of Bitcoin. He also hosts a podcast of the same name. His new book, The Fiat Standard, should be out in November._Find Saifedean here: https://twitter.com/saifedeanSaifedean's online learning platform: http://saifedean.com(20% off by using the code “Peterson”)The Bitcoin Standard: http://saifedean.com/thebitcoinstandardThe Fiat Standard: http://saifedean.com/thefiatstandard_________[00:18] Intro[02:34] What are hard monetary assets?[06:13] The argument for bitcoin being the best hard money ever created[09:11] "Bitcoin only has users... no admins. There is nobody with a master key" - Saifedean Ammous[10:36] How the Bitcoin network functions using "consensus parameters"[15:49] "The way that Bitcoin came about seems... virtually impossible to believe" - Jordan Peterson[18:27] Other schools of economics (Austrian) vs. the most common today (Keynesian)[20:46] "So the Austrian school of economics... tilts you more towards an appreciation of non-centrally controlled, distributed networks, and emphasis on the individual actor" - JP[23:25] Paul Samuelson and communist economic expectations of centralized planning post-WW2[25:27] Dr. Ammous' academic background[27:14] Climate change. The push towards central planning, implying certain people or groups know the exact consequences and solutions to future economic developments[29:41] "I've been struck by the problem of unintended consequences and the irreducible complexity of things. We can talk about the problem of climate change, but those words are incredibly deceiving" - JP[34:16] Highlighting the crucial role of the entrepreneur in Austrian economics[40:46] Saifedean reflects on the views held by the central bank, governments, and mainstream economists on money—as opposed to Bitcoin's structuring and the Austrian school of thought[41:43] "From the Austrian perspective, money is a product of the market and not the invention of the state. The state's meddling in money... is irrational and cannot succeed for the same reasons central planning does not succeed" - SA[45:50] Overview of Dr. Ammous' book The Fiat Standard[54:40] Current inflation in Western democracies. The devastating effect of hyperinflation on the average person[58:15] "Money is an incredible technology for lowering our time preference" - SA[58:59] "The 20th century was a global trainwreck of watching the money preference rise. Generation after generation... witnessed their money devalue" - SA[01:02:32] Why some efforts in energy production are misguided[01:06:39] The Fiat Standard[01:10:29] Why are we allowing people to mine bitcoin?[01:12:46] The genius that went into the production of the Bitcoin code[01:23:14] The crazy reality of decision-making at climate change panels[01:26:36] Fiat-based currency jobs and the Zoom warriors disconnected from the physical world[01:31:09] "A lot of the problems of the 20th century, in my opinion, have their roots in highly inflationary fiat currency" - SA[01:31:18] Covering some of the common objections against Bitcoin[01:39:45] "We are always going to find more reasons to print money" - SA[01:41:43] Ammous' online learning platform[01:48:29] The growth of Saifedeen.com and the parameters attributed to its success[01:50:05] The possibility of decentralizing societal accreditation[01:50:21] "I've talked to seriously wise academics who know that there is almost zero financial knowledge in universities [today]... There is tremendous residual value, however, in the accreditation" - JP[01:56:18] Wrapping up#Crypto #FiatStandard #Bitcoin #JordanPeterson #Decentralization Learn more about your ad choices. Visit podcastchoices.com/adchoices