"Econ 102" with Noah Smith and Erik Torenberg Podcast Por Turpentine arte de portada

"Econ 102" with Noah Smith and Erik Torenberg

"Econ 102" with Noah Smith and Erik Torenberg

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 Economist and "Noahpinion" writer Noah Smith and investor Erik Torenberg make sense of what’s happening in the news, technology, business, and beyond, through the lens of economics. Econ 102 is a part of the Turpentine podcast network. Learn more: turpentine.co2023 Economía Finanzas Personales Política y Gobierno
Episodios
  • The 2nd China Shock: Why Chinese Companies Are Making Zero Profit

    The 2nd China Shock: Why Chinese Companies Are Making Zero Profit
    Jul 15 2025
    This week, Noah Smith and Erik Torenberg analyze recent global events—from a political shift in New York to the Israel-Iran conflict—while exploring U.S.-China economic dynamics, evolving industrial policies, and the risk of a recession. The conversation also touches on historical economic shifts, tariffs, and manufacturing trends. – SPONSORS: NetSuite More than 42,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://netsuite.com/102⁠⁠⁠⁠⁠⁠⁠⁠⁠ Shopify Shopify is the world's leading e-commerce platform, offering a market-leading checkout system Shoppay and exclusive AI apps. Nobody does selling better than Shopify. Get a $1 per month trial at ⁠⁠⁠⁠https://shopify.com/momentofzen⁠⁠⁠⁠. AdQuick The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://adquick.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠ today to start reaching your customers in the real world. – SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co – FOLLOW ON X: @noahpinion @eriktorenberg @turpentinemedia – RECOMMENDED IN THIS EPISODE: China's industrial policy has an unprofitability problem: https://www.noahpinion.blog/p/chinas-industrial-policy-has-an-unprofitability Noahpinion: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.noahpinion.blog/⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠ – TAKEAWAYS: New York City Politics: Discussion of a "Muslim socialist" winning what appears to be a NYC mayoral race. Middle East Geopolitics: Analysis of recent Iran bombing and its economic implications. China's Current Industrial Policy Problems: Xi Jinping's aggressive subsidization of strategic industries (EVs, semiconductors, batteries, solar panels). Key Economic Insights: China's export percentage of GDP is now lower than many developed countries, but the absolute volume still creates massive global impact due to China's size. US Manufacturing Revival: The importance of reducing regulatory barriers to enable more "sub-Elons" (entrepreneurs like Elon Musk).
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    51 m
  • Derek Thompson on Why America Can't Build, Abundance, and Substack

    Derek Thompson on Why America Can't Build, Abundance, and Substack
    Jul 8 2025
    In this episode of Econ 102, we're republishing a conversation between Noah Smith and Derek Thompson recorded live on Substack in June. They explore Derek’s shift from The Atlantic to Substack and unpack the “abundance agenda” — a vision for revitalizing American politics through better housing, energy, and innovation policy. Their wide-ranging conversation touches on economic reform, trendspotting, and the evolving media landscape. – SPONSORS: NetSuite More than 42,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: ⁠⁠⁠⁠⁠⁠⁠⁠https://netsuite.com/102⁠⁠⁠⁠⁠⁠⁠⁠ Shopify Shopify is the world's leading e-commerce platform, offering a market-leading checkout system Shoppay and exclusive AI apps. Nobody does selling better than Shopify. Get a $1 per month trial at ⁠⁠⁠https://shopify.com/momentofzen⁠⁠⁠. AdQuick The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit ⁠⁠⁠⁠⁠⁠⁠⁠https://adquick.com/⁠⁠⁠⁠⁠⁠⁠⁠ today to start reaching your customers in the real world. – SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co – FOLLOW ON X: @noahpinion @DKThomp @eriktorenberg @turpentinemedia – RECOMMENDED IN THIS EPISODE: Derek Thompson Substack: https://www.derekthompson.org/ Abundance: https://www.amazon.com/Abundance-Progress-Takes-Ezra-Klein/dp/1668023482 Paul Krugman: https://paulkrugman.substack.com/ Matt Yglesias: https://www.slowboring.com/ Kyla Scanlan: https://kyla.substack.com/ Noahpinion: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.noahpinion.blog/⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ – TAKEAWAYS: Derek's Move to Substack: Derek left The Atlantic after 17 years to join Substack, driven by "party wanderlust" - seeing the vibrant community of writers like Noah, Matt Yglesias, and others. Art of Trend Spotting: Noah praises Derek's unique ability to identify major trends before others, noting he's "earlier to spot new and important trends than any other blogger or writer." Derek reveals his method involves paying attention to that inner voice asking "what the fuck is that?" about everyday observations - essentially being like "observational humor but not necessarily humorous." Abundance Agenda's Impact: The conversation reveals how the abundance movement has gained significant traction, with Derek noting that partnering with Ezra Klein was strategic since Klein has unique influence within Democratic circles. They discuss "Ezra Klein Derangement Syndrome" - how Klein's prominence makes him both influential and a target. Need to attack MAGA degrowth ideology: Abundance advocates should more aggressively counter Trump's "scarcity mindset" that responds to every shortage with deprivation rather than increased production. Federal housing incentives: Race-to-the-top style funding to reward localities for pro-housing policies.
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    1 h y 9 m
  • What Replaces Twitter? With Noah Smith & Chris Best, CEO of Substack

    What Replaces Twitter? With Noah Smith & Chris Best, CEO of Substack
    Jun 21 2025
    This week, we're republishing a conversation from last month between Noah Smith and Substack CEO Chris Best, originally streamed on Substack Live. They discuss the future of media in an AI-driven world, including Noah's vision for AI-powered newsletters, the rise of independent voices, and the evolving roles of platforms like TikTok and Twitter. The conversation also explores Substack's potential as a breaking news hub, the broader impact of AI on content creation, shifting U.S.-China relations, and the role of industrial policy in shaping global dynamics. – SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: ⁠⁠⁠⁠⁠⁠⁠https://netsuite.com/102⁠⁠⁠⁠⁠⁠⁠ Shopify Shopify is the world's leading e-commerce platform, offering a market-leading checkout system Shoppay and exclusive AI apps. Nobody does selling better than Shopify. Get a $1 per month trial at ⁠⁠https://shopify.com/momentofzen⁠⁠. AdQuick The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit ⁠⁠⁠⁠⁠⁠⁠https://adquick.com/⁠⁠⁠⁠⁠⁠⁠ today to start reaching your customers in the real world. – SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co – FOLLOW ON X: @noahpinion @cjgbest @eriktorenberg @turpentinemedia – RECOMMENDED IN THIS EPISODE: The Age of Twitter is finally ending. Can Substack take its place?: https://www.noahpinion.blog/p/the-age-of-twitter-is-finally-ending Eugene Wei's Status as a Service:https://www.eugenewei.com/blog/2019/2/19/status-as-a-service Noahpinion: ⁠⁠⁠⁠⁠⁠⁠⁠https://www.noahpinion.blog/⁠⁠⁠⁠⁠⁠⁠⁠ – TAKEAWAYS: Death of Twitter as Breaking News Platform: Death of Twitter as Breaking News Platform. Substack's Opportunity in Breaking News: Noah proposes that Substack could capture 80% of Twitter's former breaking news function. AI's Role in Media's Future: AI as search engine, curator, and summarizer to help process information overload. Attention Economy Problem: Chris highlights a crucial insight: "the media you can consume is not just a matter of getting what you want. It also shapes your desires and shapes what you want over time" - emphasizing that content choices shape identity over time. Geopolitical Concerns: Noah expresses pessimism about America's competitive position.
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    48 m
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