Afleveringen
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Show host Gene Tunny interviews Russell Harrison, CEO of Spartans Boxing Club. They discuss the rise of boutique boxing gyms, the benefits of boxing for fitness and mental health, and the challenges of expanding a fitness franchise globally. Russell describes how Spartans uses technology to enhance the member experience and how boxing training can benefit corporate executives and employees. Hear from Russell about Spartans’ "White Collar Boxing" events, where high-performing corporate executives and professionals undergo 12 weeks of boxing training, culminating in a black-tie gala event.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP252Introduction (0:00)Ensuring Safety in Boxing (3:13)Fitness Benefits of Boxing (6:01)Training and Techniques at Spartans Boxing Clubs (8:32)Expansion into the Australian Market (10:20)Boutique Fitness Market and Franchise Model (13:43)Gender Balance and Market Demographics (35:03)Corporate Wellness and Holistic Health (35:20)White Collar Boxing (43:10)Final Thoughts and Future Plans (45:16)TakeawaysCommunity-Driven Gyms: Spartans Boxing Club focuses on creating accessible, community-oriented gyms that cater to a wide demographic, including families and professionals.Franchise Success: Spartans Boxing's franchise model is designed to be mutually beneficial, with a focus on providing value and support to franchisees.Holistic Wellness: Beyond physical fitness, Spartans Boxing integrates mental health programs, showing the importance of a holistic approach to well-being.Global Expansion: Spartans Boxing has successfully expanded into multiple countries by adapting its business model to local markets and regulations.Boutique Fitness Trends: The rise of boutique gyms like Spartans Boxing reflects a shift towards more personalised, community-focused fitness experiences.Links relevant to the conversationSpartans Boxing Club:
https://spartansboxing.com/
A study reporting “Boxing appears to be an effective treatment for persons with Parkinson’s disease”:
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9837687/
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This episode delves into the work of Good Business Lab (GBL), co-founded by Professor Achyuta Adhvaryu. GBL focuses on innovative workplace interventions to improve worker well-being and firm productivity, and it typically evaluates these interventions using Randomized Controlled Trials (RCTs). Show host Gene Tunny and Ach discuss the effectiveness of soft skills training programs and the importance of worker voice in creating a more engaged and productive workforce. They discuss methodological issues regarding RCTs and whether the Hawthorne effect is a concern. Ach is Tata Chancellor’s Professor of Economics and Director of the 21st Century India Center at UC San Diego.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
About this episode’s guest: Professor Achyuta AdhvaryuAchyuta Adhvaryu is the Tata Chancellor’s Professor of Economics at the School of Global Policy and Strategy and is the inaugural director of the 21st Century India Center at UC San Diego. Adhvaryu’s research interests are in development economics, organizational economics and health economics, and his experience in organizational development make him well-suited to lead our new center. Prior to this role, Adhvaryu was a professor at the University of Michigan and an assistant professor at the Yale School of Public Health.
https://gps.ucsd.edu/faculty-directory/achyuta-adhvaryu.html
What’s covered in EP251Introduction. (0:00)Achyuta's Early Career and Research in East Africa (1:53)Historical Examples of Private Sector Impact (17:03)Good Business Lab's Approach and Findings (21:45)Methodology and Measurement of Impact (37:56)Hawthorne Effect and Replication of Findings (43:33)Economic Development and Convergence (49:44)TakeawaysSoft skills training can significantly improve productivity, even in blue-collar settings.Worker voice, when effectively harnessed, can reduce turnover and absenteeism while boosting productivity.Good Business Lab demonstrates the practical value of academic research when applied to real-world business challenges.A growing body of evidence supports the integration of worker wellbeing initiatives into business strategies globally.Links relevant to the conversationGood Business Lab:
https://goodbusinesslab.org/
UC San Diego 21st Century India Center that Ach directs:
https://india.ucsd.edu/
Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.
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Zijn er afleveringen die ontbreken?
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Show host Gene Tunny and Morgans Chief Economist Michael Knox explore the recent insights Reserve Bank of Australia Deputy Governor Andrew Hauser shared on monetary policy at the 2024 Economic Society of Australia (QLD) business lunch. They examine the RBA's data-driven approach to interest rates, the equilibrium real interest rate concept, and the impacts of Quantitative Tightening (QT). Michael is one of Australia’s leading market economists and RBA watchers, and he led the Q&A session with the Deputy Governor at the lunch.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP250Introduction. (0:00)RBA's monetary policy decisions and the influence of high US debt on interest rates. (4:13)The equilibrium real interest rate. (10:29)Monetary policy, inflation, and interest rates. (14:16)Central bank balance sheet unwind and its potential impact on interest rates. (21:42)US budget deficits, bond yields, and quantitative tightening. (27:09)Chinese RMB's decline in international reserve currency status. (34:18)TakeawaysRBA's Data-Driven Approach: The Reserve Bank of Australia relies on actual data more than forecasts when making interest rate decisions.Criticism of Overconfidence: RBA Deputy Governor Andrew Hauser criticised the unwarranted confidence with which some commentators argue for monetary policy moves.Implications of Quantitative Tightening (QT): The recent period of quantitative easing has complicated the relationship between government budget deficits and bond yields. However, there are concerns that as QT continues and deficits remain high, this relationship could reassert itself and lead to higher long-term interest rates than otherwise.Links relevant to the conversationRBA Deputy Governor Andrew Hauser’s Beware False Prophets speech:
https://www.rba.gov.au/speeches/2024/sp-dg-2024-08-12.html
Chris Joye’s article ‘Arrogant RBA boss should stop trying to muffle opponents’:
https://www.afr.com/policy/economy/arrogant-rba-boss-should-stop-trying-to-muffle-opponents-20240813-p5k25p
Kevin M Warsh: Financial market turmoil and the Federal Reserve – the plot thickens
https://www.bis.org/review/r080415e.pdf
Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.
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Ben Simpson, founder of Collective Shift, a crypto education and research company, shares valuable insights into the volatile world of cryptocurrency. Because the crypto field is filled with misinformation and scams, Ben emphasises the need for comprehensive education and reliable research before making investment decisions. He emphasises the importance of understanding the risks and potential of Bitcoin and other digital assets. He also discusses the regulatory landscape in Australia and the disruptive potential of decentralised finance (DeFi). NB This podcast episode contains general information only and should not be considered financial or investment advice.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP249Introduction. (0:00)Crypto market volatility and how to navigate it. (1:40)Bitcoin as a digital gold with potential for long-term growth. (6:54)Crypto regulation, tax treatment, and education. (12:21)Investing in cryptocurrency, avoiding scams, and seeking professional help. (16:44)Bitcoin ETFs and investment options in Australia. (21:06)Crypto market volatility, correlation with the stock market, and investment strategies. (25:20)Crypto investing and decentralised finance with Ben Simpson. (31:03)TakeawaysUnderstanding Crypto Volatility: Cryptocurrency markets, especially Bitcoin, are highly volatile. Investors must be prepared for significant price swings and understand the underlying factors driving these fluctuations.Importance of Education: The crypto space is filled with misinformation and scams. Ben emphasises the need for comprehensive education and reliable research before making investment decisions.Regulatory Landscape: The regulatory environment for cryptocurrencies, particularly in Australia, is still evolving. While Bitcoin and Ethereum are generally considered safe from a regulatory standpoint, many other cryptocurrencies could face challenges.Decentralised Finance (DeFi): DeFi has the potential to disrupt traditional banking by offering financial services without intermediaries. This space is growing and may offer exciting opportunities for investors.Safe Investing Strategies: Ben advises new investors to start with Bitcoin and be cautious of lesser-known cryptocurrencies, many of which may lack real value and be risky investments.Links relevant to the conversationCollective Shift: https://collectiveshift.io/
Ben’s YouTube channel: https://www.youtube.com/@BenCollectiveShift
Ben and Bergs podcast: https://open.spotify.com/show/5xir3V8fvtmHTAQy2D9dQd
Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.
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Gene Tunny welcomes Dr Nicholas Gruen from Lateral Economics to explore the decline of Australia's policy exceptionalism. They delve into the era of microeconomic reforms, the role of neoliberalism, and the challenges current policymakers face. Nicholas provides a historical perspective and discusses potential ways forward. He shares insights from his time advising the Hawke and Keating governments, discussing the successes and failures of Australia’s economic reforms from the 1980s and 1990s.
This is the last episode before a four-week break. Economics Explored will return in August 2024.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP248Introduction to Australia's loss of policy exceptionalism. (0:00)Regulation, economics, and politics in Australia in the 1960s and 1970s. (4:59)Early Australian economic reform and its challenges. (10:45)Australian economic reform under Hawke and Keating governments. (16:20)Car industry policy. (21:36)Free education vs HECS - why was HECS a good reform? (32:06)Airline deregulation. (36:48)Privatisation of public assets and its consequences. (42:55)Economics of toll roads (48:18)TakeawaysSince the early 2000s, Australia seems to have lost the problem-solving spirit and policy exceptionalism of the 1980s and 1990s, struggling in various policy areas like energy.Impact of Neoliberalism: Neoliberal reforms, initially embraced by the left, significantly improved Australia’s economic landscape but also led to unintended consequences.Key reforms included cutting tariffs, higher education policy changes, airline deregulation, and other competition policy reforms, but some privatised infrastructure assets have not been appropriately regulated post-privatisation.Challenges in Current Policy: Australia faces challenges in various policy areas, including energy and housing, indicating a need for renewed reform efforts.Moving forward will require reinvigorating honest, evidence-based policy conversations focusing on problem-solving rather than fixed ideological positions.Links relevant to the conversationNicholas’s YouTube channel where Uncomfortable Collisions with Reality episode will be published:
https://www.youtube.com/@NicholasGruen
Nicholas’s Club Troppo post on economic reform featuring Colin Clark quote:
https://clubtroppo.com.au/2008/03/01/compare-and-contrast/
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Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.
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In this episode, Gene Tunny explores the relationship between government spending and wealth creation. He talks about President Obama’s memorable expression, “You didn’t build that”, and how economists think about the role of government and wealth creation. Gene discusses the roles of both the government and private sector in generating wealth and their impact on productivity, GDP and living standards.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP247Government role in the economy - private sector vs public sector. (0:00)Government spending and its impact on the economy. (5:52)Keynesian economics and the role of aggregate demand in determining GDP. (11:51)Government spending and its impact on productivity. (18:13)Government intervention in the economy, with a focus on public goods and cost-benefit analysis. (25:11)Government's role in the economy, potential for crowding out the private sector. (31:32)Government impact on the economy and living standards. (38:20)TakeawaysGovernment Spending and GDP: Government expenditures can contribute to GDP, but their efficiency and the type of spending critically determine their economic impact.Private Sector's Role: The private sector is essential in wealth creation due to its efficiency incentives, but it also depends on government-provided infrastructure and services.Crowding-out Effect: Excessive government spending can crowd out private investment, potentially reducing overall economic efficiency and growth.Cost-Benefit Analysis: It is vital to conduct thorough cost-benefit analyses for government projects to ensure that public funds are used effectively and do not become a drain on the economy.Links relevant to the conversationDan Mitchell’s article on the impact of government spending on economic growth:
https://www.heritage.org/budget-and-spending/report/the-impact-government-spending-economic-growth
Dan’s article “OECD Economic Research Finds that Government Spending Harms Growth”
https://danieljmitchell.wordpress.com/2016/11/28/oecd-economic-research-finds-that-government-spending-harms-growth/
Episode on Alvin Hansen and Evsey Domar:
https://economicsexplored.com/2024/06/19/popularizing-keynes-how-alvin-hansen-and-evsey-domar-shaped-post-war-macroeconomics-ep245/
Episode on Thatcher:
https://economicsexplored.com/2020/12/06/ep64-adam-smith-margaret-thatcher-with-dr-eamonn-butler/
Bacon and Eltis’s 1978 book “Britain’s Economic Problem: Too Few Producers”:https://link.springer.com/book/10.1007/978-1-349-15863-8
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Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.
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This episode features a conversation between Gene Tunny and Stephen Kirchner about the US dollar's dominance in global finance. They examine the reasons behind the dollar's strong position, the effects of US fiscal policy and public debt, and the debate over its future role. Kirchner explains how the US's status as a net oil exporter influences currency dynamics and global trade.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
About Stephen KirchnerStephen Kirchner is the Senior Economist at the Business Council of Australia, the former Program Director for Trade and Investment at the United States Studies Centre at the University of Sydney, and a Senior Fellow of the Fraser Institute. An expert in monetary and fiscal policy, financial markets, and trade economics, Mr. Kirchner was formerly a research fellow at Australia's Centre for Independent Studies, an economist with Action Economics, LLC and a former director of economic research with Standard & Poor's Institutional Market Services, based in Sydney and Singapore. He has also worked as an advisor to members of the Australian House of Representatives and Senate.
Mr. Kirchner holds a BA (Hons) from the Australian National University, a Master of Economics (Hons) from Macquarie University, and a PhD in Economics from the University of New South Wales. He blogs at www.institutional-economics.com and is active on Twitter (@insteconomics).
What’s covered in EP246US dollar's global role as reserve currency, benefits, and potential challenges. (0:00)US fiscal policy and its impact on the US dollar's global role. (8:40)Monetary vs fiscal policy dominance in determining interest rates and exchange rates. (14:39)US dollar's role in global finance and its potential replacement by other currencies. (20:39)China's economy, currency, and trade agreements. (29:59)TakeawaysThe US dollar's dominant role in global finance is largely due to the unparalleled size, depth, and liquidity of US capital markets.Despite concerns about the US fiscal position, the demand for US assets remains strong, which supports the dollar's value.Other economies, like the Eurozone and China, face challenges in rivaling the US dollar due to less developed capital markets.The US becoming a net oil exporter has altered the traditional relationship between the US dollar and commodity prices.Fiscal policy in the US, while concerning, does not currently pose an immediate threat to the dollar's global dominance due to strong international demand for US assets.Links relevant to the conversationStephen’s post on dollar dominance:
https://stephenkirchner.substack.com/p/dollar-dominance-if-you-can-keep
Stephen’s US Studies Centre article “The ‘reserve currency’ myth: The US dollar’s current and future role in the world economy”:
https://www.ussc.edu.au/the-reserve-currency-myth-the-us-dollars-current-and-future-role-in-the-world-economy
Stephen’s post on how the US dollar is now a commodity currency
https://stephenkirchner.substack.com/p/why-is-the-australian-dollar-so-weak
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Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.
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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 [email protected] 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=sharing
William Easterly’s paper on the Harrod-Domar model:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=11020
Fiscal perversity papers:
Fabrizio Carmignani’s article “Can public expenditure stabilize output? Multipliers and
policy interdependence in Queensland and Australia”:
https://www.sciencedirect.com/science/article/abs/pii/S0313592615300242?via%3Dihub
Tamim 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.xml
An abridged version of Skidelsky’s three-volume biography of Keynes:
https://www.penguin.com.au/books/john-maynard-keynes-9780143036159
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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.
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Darren Brady Nelson joins Gene Tunny to discuss the evolution of competition policy in Australia over the past few decades. Darren draws on his experience as an economist in the NSW Treasury and the Queensland Competition Authority. Gene and Darren reflect on the successes of the original National Competition Policy reforms and assess the more limited scope of the subsequent competition policy review. Darren analyzes CPI data to understand rising living costs and argues for reducing government interventions. The conversation also covers unintended policy consequences (e.g. fraud in disability services provision), the US Founding Fathers’ vision for limited government, and debates around the appropriate roles and sizes of government in Australia and the US.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP244Australian competition policy history and reforms. (0:00)Free market competition and its impact on living standards. (7:56)Economic policy and its impact on individuals, including a tragic story from Karen Chester illustrating the costs of high tariffs. (12:31)Economic policy reforms in Australia during the 1980s and 1990s, including the Hilmar report and National Competition Policy (16:08)The benefits and costs of National Competition Policy in Australia. (23:36)Sequels and the original, with examples from movies and economics. (31:51)Competition policy and its benefits, challenges, and potential reforms in Australia. (35:27)Cost of living and government interventions. (40:12)Government intervention in various sectors, including energy, childcare, and alcohol/tobacco. (44:42)Government policies and their unintended consequences, including fraud in disability support programs. (49:23)The size and role of government in Australia and the US, focusing on the founding fathers' intentions. (53:43)Competition policy in Australia and the US, focusing on regulation and deregulation. (1:00:10)Economics, regulation, and antitrust law with a focus on Australia and the US. (1:06:07)TakeawaysNational Competition Policy (NCP) significantly improved economic efficiency and consumer benefits in Australia.Reforms under NCP included corporatization and privatization of government-owned businesses, and opening up markets such as telecommunications and airlines to competition, leading to lower prices and better services in many cases.Despite being from a traditionally left-wing political party, the Hawke-Keating Government was crucial in initiating market-friendly reforms.Future competition policy reforms face challenges due to political and lobbying pressures, especially in regulated sectors like pharmacies.Transparent and rational community service obligations were key to ensuring fair distribution of competition policy benefits. Links relevant to the conversationWhere you can find Darren’s submission to the Productivity Commission’s National Competition Policy analysis inquiry:
https://www.pc.gov.au/inquiries/current/competition-analysis/submissions
AFR article “PC's Karen Chester's love of economics born of despair” (pay-walled):
https://www.afr.com/politics/pcs-karen-chesters-love-of-economics-born-of-despair-20161206-gt4poh
Whitlam Era book featuring Gene’s article on Whitlam and the Economy:
https://www.connorcourtpublishing.com.au/THE-WHITLAM-ERA-A-REAPPRAISAL-OF-GOVERNMENT-POLITICS-AND-POLICY_p_511.html
Productivity Commission’s 2005 NCP review:
https://www.pc.gov.au/inquiries/completed/national-competition-policy/report/ncp.pdf
Episode featuring John Nantz, Free Markets & Limited Government: Lessons from the Founding Fathers for Today – EP218:
https://economicsexplored.com/2023/12/14/free-markets-limited-government-lessons-from-the-founding-fathers-for-today-ep218/
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Promo 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.
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This episode explores the resurgence of industrial policy in the US and Australia. We critically analyze whether government interventions can truly shape industries or if they are doomed to repeat past mistakes, such as those experienced during the 1970s and with the Concorde project. The episode includes clips featuring Saxon Davidson from the Institute of Public Affairs and Eamonn Butler from the Adam Smith Institute.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP243Introduction to Industrial policy and its potential consequences. (0:00)Budget, inflation, and economic policies in Australia. (8:34)Climate change policy and government incentives for renewable energy. (13:59)Australian economy, productivity, and government intervention. (19:44)UK's economic struggles in the 1970s, including strikes. (29:41)The failure of the Concorde supersonic jet project. (35:59)Failures of activist industrial policy - e.g. in Australia's car industry. (49:16)TakeawaysRevival of Industrial Policy: Governments in the US and Australia are reintroducing industrial policies to shape their economies, sparking debate among economists.Historical Lessons: The economic turmoil of the 1970s and failures such as the Concorde serve as cautionary tales against heavy government intervention in industry.Climate Policy Challenges: The push for renewable energy in Australia raises concerns about the rapid transition and its impact on the economy and energy grid reliability.Productivity Focus: Effective economic policies should enhance productivity through structural reforms rather than picking winners.Government's Role: While there is a place for government to address market failures, extensive intervention often leads to inefficiencies and unintended consequences.Links relevant to the conversationAustralian Taxpayers’ Alliance Budget Chat:
https://www.youtube.com/live/MYX35Lk_ZYA?si=0kJzBt47Yh_5sUnS
Gene’s CIS issues analysis paper on the Australian budget, co-authored with Robert Carling:
https://www.cis.org.au/publication/budget-fails-important-policy-tests/
Episode with Eamonn Butler on Thatcher:
https://economics-explained.simplecast.com/episodes/adam-smith-and-margaret-thatcher-with-dr-eamonn-butler-1oXNvQg_
Episode on Concorde:
https://economicsexplored.com/2022/03/20/concordes-economic-lessons-a-closer-look-ep131/
Previous episodes on Australia’s energy transition:
https://economicsexplored.com/2023/08/24/australias-net-zero-transition-successes-challenges-w-andrew-murdoch-arche-energy-ep202/
https://economicsexplored.com/2022/12/19/aussie-energy-crisis-net-zero-transition-w-josh-stabler-energy-edge-ep170/
Australia’s Hydrogen Production and Critical Minerals Tax Incentives:
https://www.ato.gov.au/about-ato/new-legislation/in-detail/businesses/hydrogen-production-and-critical-minerals-tax-incentives
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Website: https://www.lumocoffee.com/10EXPLORED
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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.
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Daniel Lawse, Chief Century Thinker at Verdis Group, helps many organizations, such as Seattle Aquarium, become more sustainable and contribute positively to the environment. Daniel joins Gene Tunny to discuss how organisations can make meaningful climate and environmental actions. They cover regenerative practices, the journey from sustainability to net-zero emissions, and the crucial role of long-term strategic planning. They also discuss the degrowth movement and how Warren Buffett’s annual Berkshire Hathaway meeting boosts local businesses in Omaha, where Verdis Group is based.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP242Introduction. (0:00)Climate action plans and sustainability implementation for organizations. (3:05)Regenerative systems, circular economy, and ecosystem types. (10:29)Sustainability and environmental economics, enlightened self-interest and long-term thinking. (16:09)Sustainable growth and development, comparing nature’s regenerative approach with human economies. (23:15)Growth vs degrowth. (29:20)Warren Buffett’s impact on Omaha. (34:20)TakeawaysThrough climate action plans, organizations can take practical steps to reduce their environmental impacts and work towards goals like net zero emissions.Shifting mindsets from short-term to long-term thinking and considering impacts on future generations can drive more sustainable decision-making.Nature provides many examples of regenerative and circular systems that organizations can learn from using approaches like biomimicry.Enlightened self-interest and purpose-driven values can be strong motivators for sustainability action in addition to regulatory requirements.Balancing economic and environmental considerations is an important topic for debate.Links relevant to the conversationVerdis Group: https://verdisgroup.com/
Seattle Aquarium case study: https://verdisgroup.com/case_studies/seattle-aquarium/
Patagonia - Don’t Buy This Jacket, Black Friday and the New York Times:
https://www.patagonia.com.au/blogs/stories/don-t-buy-this-jacket-black-friday-and-the-new-york-times
Books on the role of energy in growth and relevant to the degrowth debate
https://www.e-elgar.com/shop/gbp/the-economic-growth-engine-9781849804356.html
https://www.amazon.com.au/Civilization-Distinguished-Professor-Emeritus-University/dp/0262035774
https://www.amazon.com.au/Growth-Microorganisms-Megacities-Vaclav-Smil/dp/0262042835
Previous episode on degrowth:
https://economicsexplored.com/2023/10/06/growth-or-degrowth-w-oliver-hartwich-nz-initiative-ep208/
Lumo Coffee promotion10% of Lumo Coffee’s Seriously Healthy Organic Coffee until 30 June 2024.
Website: https://www.lumocoffee.com/10EXPLORED
Promo 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.
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Consumers have noticed bags of chips, chocolates, and many other products have shrunk, but prices have not come down. This episode of Economics Explored features a detailed discussion on shrinkflation with Gene Tunny and Arturo Espinoza Bocangel. They analyze various examples of shrinkflation and its impact on the cost of living. The episode also considers the potential for regulatory and other measures to address this practice. For instance, a US Senator wants to outlaw shrinkflation, and a French supermarket chain puts a sticker on shelves identifying shrunken products. Gene and Arturo also consider the high degree of market concentration in the grocery sector and what the FTC in the US and the ACCC in Australia can do about it.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP241Introduction to Shrinkflation (product shrinking in size while price remains the same). (0:00)Shrinkflation in the food industry, with examples of product size reductions and price increases. (5:04)Senator Casey’s proposal to stop corporations from deceiving consumers through shrinkflation. (10:05)Shrinkflation and its impact on consumer prices. (13:38)Shrinkflation as a business strategy. (19:10)Market power and concentration in the Australian supermarket industry. (25:25)Supermarket competition in Australia, with a focus on Coles and Woolworths. (30:12)Supermarket power and calls for regulation. (35:47)Coles and Woolworths' market power and supplier squeeze. (40:41)TakeawaysShrinkflation Explained: Shrinkflation occurs when manufacturers reduce the size of products while maintaining the same price, effectively increasing the unit price without consumers' direct awareness.Impact on Consumers: This practice can be deceptive, as it often goes unnoticed by consumers who end up paying more for less, affecting their purchasing power and overall cost of living.Supermarket Power: Large supermarkets like Coles and Woolworths have significant market power, which they can use to negotiate lower prices from suppliers. There are allegations of unfair use of this market power and there are a couple of government inquiries investigating this among other market power issues. Regulatory Responses: There are ongoing discussions and legislative efforts, such as those led by Senator Bob Casey in the US, to classify shrinkflation as a deceptive practice and regulate it more strictly.Market Concentration: The high level of market concentration in the supermarket sector, particularly in Australia and to an extent in the US, means that major supermarkets can allegedly make it harder for new entrants like Aldi and Costco to compete effectively.Links relevant to the conversationSenator Casey's Report on Shrinkflation: https://www.casey.senate.gov/imo/media/doc/shrinkflation_report.pdf
ABS on how shrinkflation is accounted for in CPI calculation:
https://www.abs.gov.au/articles/quality-change-australian-cpi
Carrefour’s Shrinkflation Warning:
https://www.bbc.com/news/business-66809188
Sanjoy Paul's article on eight ways Woolworths and Coles squeezed their suppliers and customers:
https://theconversation.com/8-ways-woolworths-and-coles-squeeze-their-suppliers-and-their-customers-223857
Details on the exchange between the Woolworths CEO and an Australian Senator during an inquiry - “Greens senator threatens Woolworths CEO with six months in prison for contempt of Senate”:
https://www.abc.net.au/news/2024-04-16/woolworths-ceo-threatened-with-contempt-by-senate-committee/103728244
Bloomberg report on Lina Khan and FTC:
https://www.theguardian.com/us-news/2024/mar/09/lina-khan-federal-trade-commission-antitrust-monopolies
Previous episodes discussing supermarkets and market power with Simon Cowan and Danielle Wood:
https://economicsexplored.com/2023/08/31/how-to-improve-housing-affordability-and-why-the-greedflation-thesis-is-wrong-w-simon-cowan-cis-ep203/
https://economicsexplored.com/2024/03/12/from-the-vault-antitrust-with-danielle-wood-now-australian-productivity-commission-chair/
Lumo Coffee promotion10% of Lumo Coffee’s Seriously Healthy Organic Coffee until 30 June 2024.
Website: https://www.lumocoffee.com/10EXPLORED
Promo 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.
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Stephen Brittain, co-founder of Insurtech Gateway, explains how insurance technology, ‘insurtech,’ provides solutions to real-world problems. From aiding farmers in India to deal with the ‘hot cow’ problem to rethinking commercial flood insurance in the US, startups incubated by Insurtech Gateway are crucial players in helping people and businesses better handle risks.
If you have any questions, comments, or suggestions, please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP240Introduction. (0:00)Incubating startups in the insurance industry, reducing early stage risk. (4:53)Innovation in insurance industry, including use of data and AI to predict risk and personalize policies. (9:40)Using parametric insurance to manage flood risk. (14:28)Flood insurance and risk management using technology. (19:36)Using technology to mitigate risks in agriculture and the insurance industry. (24:44)Disrupting the insurance industry with new technologies and innovations. (31:21)De-risking climate innovation and insuring against natural disaster risks. (37:17)Using technology to manage natural disaster risks. (40:48)TakeawaysInsurtech is leveraging technology to fundamentally change the relationship between insurers and customers, focusing on transparency and proactive risk management.Technological advances in the insurance sector are now tackling real-world problems by enhancing predictive models and using data more effectively to mitigate risks.InsurTech innovations improve customer service and efficiency and can also address big challenges such as climate change and disaster management.Collaboration between tech innovators and traditional insurance companies can potentially redefine industry standards and expectations, leading to more tailored insurance products.Regulatory challenges remain significant, but the evolving landscape of insurtech suggests a promising future.Links relevant to the conversationInsurtech Gateway website:
https://www.insurtechgateway.com/ (scroll down for the video summary of what they do)
Article about the cost-benefit analysis Gene did for IND Technology:
https://adepteconomics.com.au/early-fault-detection-for-rural-power-lines-can-reduce-bushfire-risk/
FloodFlash:
https://floodflash.co/us/
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.
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This episode delves into Adam Smith’s four maxims of taxation and examines their relevance in today's economic environment. Host Gene Tunny explores the balance between efficiency and equity, discussing historical perspectives and contemporary debates, such as the proposed billionaire tax.
Please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored with any questions, comments, or suggestions.
What’s covered in EP239Introduction. (0:00)Important taxation principles. (5:33)Taxation principles and maxims from Adam Smith's "The Wealth of Nations". (13:19)Wealth inequality and proposed taxes on billionaires. (20:30)A classically liberal perspective from Simon Cowan. (28:33)Taxation principles, including horizontal and vertical equity, convenience, and efficiency. (33:29)Taxation and its impact on economic activity. (41:19)Adverse impacts of high taxes: example from Australia's tobacco industry. (47:54)Wrap up of taxation principles from Adam Smith's "Wealth of Nations." (54:04)TakeawaysAdam Smith’s maxims of taxation remain highly relevant, advocating for efficiency, equity, certainty, and convenience in tax systems.Contemporary tax debates often reflect a trade-off between efficiency (minimizing economic distortions) and equity (ensuring fairness across different income groups and treating similar people in the same way).The episode highlights the potential adverse consequences of high taxation, such as reduced economic growth and black markets and organized crime.Discussions on billionaire taxes illustrate ongoing disagreements about how to design tax systems that balance economic incentives and equity.The taxation principles discussed are essential for understanding governmental approaches to raising revenue while minimizing negative economic impacts.Links relevant to the conversationRecent episode with Dan Mitchell on US debt:
https://economicsexplored.com/2024/04/17/is-uncle-sam-running-a-ponzi-scheme-with-the-national-debt-w-dr-dan-mitchell-ep235/
Episode featuring Simon Cowan on tax:
https://economicsexplored.com/2024/02/23/the-tax-reform-debate-cutting-through-the-spin-w-simon-cowan-cis-ep228/
Episode with Miranda Stewart on Billionaire and inheritance taxes:
https://economicsexplored.com/2021/11/06/ep112-taxing-the-rich-billionaire-and-inheritance-taxes/
Episode with Steve Rosenthal on Tax rules benefiting tech titans and hedge fund managers:
https://economicsexplored.com/2021/11/22/ep114-tax-rules-benefiting-tech-titans-and-hedge-fund-managers/
Adam Smith’s The Wealth of Nations: Books IV-V:
https://www.amazon.com.au/Wealth-Nations-Books-IV-V/dp/0140436154
One of Dan Mitchell’s posts at International Liberty on the adverse impact of taxation on economic growth:
https://danieljmitchell.wordpress.com/2018/03/10/new-imf-study-shows-u-s-would-benefit-from-lower-tax-rates-and-less-government-spending/
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.
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This episode explores the profound influence of Reaganomics and its enduring legacy in American economic policy with tax expert and former US Treasury attorney Ed Oswald. He is the author of a new book, “From Ronald to Donald: How the Myth of Reagan Became the Cult of Trump”. Oswald discusses the transition from Reagan’s tax reforms to Trump's tax policies, highlighting the continuity in supply-side economics and its implications for fiscal policy and the national debt.
Please email us at [email protected] or send a voice message via https://www.speakpipe.com/economicsexplored with any questions, comments, or suggestions.
About this episode’s guest: Edwin G. OswaldEdwin G. Oswald is a partner with the law firm of Orrick, Herrington & Sutcliffe LLP, resident in Washington D.C. He served as an attorney-advisor in the United States Treasury's Office of Tax Legislative Counsel during the Clinton Administration. He is a Fellow of the American College of Tax Counsel and a frequent lecturer on financing State and local infrastructure and the federal taxation of municipal debt. The book is a personal project of Mr. Oswald's and the views and opinions expressed herein are those of the co-authors and do not represent the views and opinions of Orrick.
What’s covered in EP238Reagan's economic policies and their impact on the US deficit. (0:00)Supply-side economics and its impact on US deficits. (6:55)Reaganomics and its impact, and the impact of Clinton administration policies (e.g. NAFTA, repeal of Glass-Steagall). (16:14)Reagan and Trump similarities, tax cuts, and budget. (26:24)Tax policy and its impact on the economy. (33:22)TakeawaysReagan’s economic policies, particularly his tax cuts, have had a lasting influence on American politics, setting a precedent followed by later administrations, including Trump’s.Ed Oswald argues that supply-side economic policies from Reagan to Trump show a consistent belief in tax cuts for the wealthy as a means to stimulate economic growth, despite debates about their effectiveness and impact on the national debt.In Ed's view, addressing the US debt will likely require a balanced approach of tax increases and spending cuts.Links relevant to the conversationEd’s book: https://www.amazon.com.au/Ronald-Donald-Reagan-Became-Trump/dp/1476690324
Ed’s bio: https://www.edwingoswald.com/
Recent episode with Dan Mitchell on US debt:
https://economicsexplored.com/2024/04/17/is-uncle-sam-running-a-ponzi-scheme-with-the-national-debt-w-dr-dan-mitchell-ep235/
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According to the Wall Street Journal, this episode’s guest, Andy Lee, is “The Tax Whiz With the Strangest Hustle on Wall Street”. He’s the founder and CIO of Parallaxes Capital, and he joins us to talk about tax receivable agreements (TRAs). Andy explained what TRAs are, how they come about for companies going public such as Shake Shack in 2015, and why he’s investing in them.
Disclaimer: Nothing in this episode should be construed as financial or investment advice.
Please contact us with any questions, comments and suggestions by emailing us at [email protected] or sending a voice message via https://www.speakpipe.com/economicsexplored.
About this episode’s guest: Andy Lee, Founder and CIO of Parallaxes CapitalAndy founded Parallaxes Capital in 2017. Previously, he was with Lone Star Funds, focused on investing in the Americas. He began his career at Citigroup.
Andy graduated from the University of Illinois at Urbana-Champaign with a Masters in Accountancy and a Bachelors in Finance and Accountancy.
Andy has been featured in publications including Wall Street Journal, Capital Allocators, Institutional Investor, NBC, Forbes, ReOrg Radio and Fitch’s LevFin Insights. He has spoken at events and conferences for organizations such as the Association of Asian American Investment Managers (“AAAIM”) and leading academic institutions including the University of Illinois, University of Pennsylvania and Texas Christian University (“TCU”)
When Andy is not working, he enjoys taking his corgi (Taco) on long walks.
Fun Fact: Andy, rarely one to back down from highly ambitious goals, ran a marathon less than 180 days from ACL, MCL and PCL surgery.
Source: https://parallaxescapital.com/our-team/
What’s covered in EP237Introduction. (0:00)TRAs for companies going public in the US. (6:18)TRAs agreements and their value for private equity investors (i.e. pre-IPO owners). (12:52)Tax refunds, risk management, and investment opportunities. (19:57)TRAs and investment strategies. (24:47)TRAs and their potential as a diversified investment. (30:55)TakeawaysTRAs convert future corporate tax savings (e.g. from depreciation expenses) into current income streams.TRAs provide long-dated, typically 15-year income streams that can be sold by pre-IPO owners (e.g., private equity investors). Private equity firms use TRAs to increase their earnings from the sale of businesses they’ve invested in. Ideal Candidates for TRAs are large, stable companies with predictable long-term profitability (e.g. Shake Shack), rather than high-growth tech startups which often lack immediate profitability.US tax expertise is required to properly analyze and invest in TRAs.Links relevant to the conversationWSJ article about Andy, “The Tax Whiz With the Strangest Hustle on Wall Street”: https://www.wsj.com/finance/investing/tax-whiz-strange-hustle-wall-street-d51ddbc6
Parallaxes Capital: https://parallaxescapital.com/
Lumo Coffee promotion
Lumo Coffee Discount: Visit Lumo Coffee (lumocoffee.com) and use code EXPLORED20 for a 20% discount until April 30, 2024.
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.
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This episode of Economics Explored features a deep dive into the ongoing housing crisis in Australia with John August, a Pirate Party of Australia official and Sydney radio host. Gene and John discuss the significant influence of immigration rates and building restrictions on housing availability and prices. They also consider potential policy solutions to ensure more equitable housing access, including developing a charter city named Turing.
Please contact us with any questions, comments and suggestions by emailing us at [email protected] or sending a voice message via https://www.speakpipe.com/economicsexplored.
About this episode’s guest: John AugustJohn August is the Treasurer of the Pirate Party Australia. John does computer support work in retail and shareholder communication. He is passionate about justice and ethics in our world, particularly as it plays out in law generally and intellectual property in particular. He has stood on behalf of the Pirate Party in the Federal seat of Bennelong and also as a Councillor for Ryde City Council.
Along with technology and law John is also interested in spoken word and poetry. He broadcasts on community radio and hosts the program “Roving Spotlight” on Tuesdays from noon-2pm on Radio Skid Row Marrickville Sydney, and writes about his ideas on the website www.johnaugust.com.au. You can keep up to date with what John is up to via his Facebook page:
https://www.facebook.com/profile.php?id=100063805005395
What’s covered in EP236Introduction. (0:00)Housing crisis in Australia, with a focus on supply and demand issues, affordability, and government policies. (2:44)Population growth, immigration, infrastructure, and housing affordability in Australia. (8:04)Housing affordability and land value taxation. (13:40)A Georgist approach to taxing land. (22:05)Immigration and foreign aid in Australia. (31:24)Reducing immigration and addressing housing challenges in Australia. (37:46)Immigration policy, infrastructure, and zoning regulations in Australia. (41:45)Potential for charter cities (e.g. Turing) and high-speed rail links. (47:34)Foreign aid, shipping, and taxation. (53:35)TakeawaysThe housing crisis in Australia is exacerbated by high immigration levels and stringent building restrictions, which affect affordability.Policy debates are intensifying around whether to restrict immigration to ease housing demand or to relax zoning restrictions on development to boost supply.The concept of "upzoning," similar to Auckland’s approach, could be a viable solution to create more housing in existing urban areas.Proponents of high immigration levels often overlook the infrastructural and social costs associated with a rapidly increasing population through high immigration rates.The discussion of housing involves not only economic metrics but also the quality of life and housing accessibility for all population segments.Links relevant to the conversationLeith Van Onselen on immigration and housing: https://www.macrobusiness.com.au/2024/04/albo-lies-his-way-out-of-rental-crisis/
Previous episode with Natalie Rayment: https://queenslandeconomywatch.com/2021/04/16/missing-middle-housing-podcast-chat-with-natalie-rayment-of-wolter-consulting/John’s conversation with Cameron Murray on housing: https://www.mixcloud.com/Johnorg/roving-spotlight-28-november-reviewing-a-pirate-look-at-the-housing-market-with-cameron-murray/Freightened documentary about the cost of shipping: https://thoughtmaybe.com/freightened/Lumo Coffee promotion
Lumo Coffee Discount: Visit Lumo Coffee (lumocoffee.com) and use code EXPLORED20 for a 20% discount until April 30, 2024.
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.
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In this episode, show host Gene Tunny engages with Dr Dan Mitchell in a frank discussion about the US’s looming debt crisis. The conversation covers Dan’s new book, co-authored with Les Rubin, The Greatest Ponzi Scheme on Earth: How the US Can Avoid Economic Collapse. In the episode, Dan talks about the unsustainable trajectory of federal debt, the consequences of government overspending, and the tough choices needed to avert economic disaster. Hear how Dan reacts to the Modern Monetary Theory view that debt and deficits aren’t a problem.
Please contact us with any questions, comments and suggestions by emailing us at [email protected] or sending a voice message via https://www.speakpipe.com/economicsexplored.
About this episode’s guest: Dr Dan MitchellDaniel J. Mitchell is a top expert on fiscal policy issues such as tax reform, the economic impact of government spending, and supply-side tax policy. Mitchell is a former senior fellow with The Cato Institute and The Heritage Foundation and served as an economist for Senator Bob Packwood and the Senate Finance Committee. His articles can be found in such publications as the Wall Street Journal, New York Times, Investor's Business Daily, and Washington Times. He is a frequent guest on radio and television and a popular speaker on the lecture circuit. Mitchell holds bachelor's and master's degrees in economics from the University of Georgia and a Ph.D. in economics from George Mason University.
What’s covered in EP235Introduction. (0:00)US government debt and entitlement programs. (4:48)Government spending and its impact on the economy. (9:05)US government spending, Social Security, and fiscal policy. (14:06)US retirement systems and entitlement programs. (18:32)Medicare reform and the federal budget. (24:05)US budget deficits and entitlement programs. (27:59)Taxes, spending, and economic growth. (33:01)Kyle Kulinksi clip. (38:11)Dan responds to Monetary Monetary Theory (41:00).Entitlement programs and government spending. (44:40)TakeawaysThe US federal debt is soaring, with projections showing a large increase in the debt-to-GDP ratio in the coming decades.Government spending, particularly on entitlement programs, is the primary driver of fiscal imbalance.Addressing the debt crisis requires significant policy changes, including reforming entitlement programs like Social Security and, to a lesser extent, Medicare and Medicaid.Reforming Social Security through personal retirement accounts could save trillions over the long run.Lessons from other countries show that fiscal discipline and restructuring can improve economic stability.Links relevant to the conversationThe Greatest Ponzi Scheme on Earth: How the US Can Avoid Economic Collapse: https://www.amazon.com.au/Greatest-Ponzi-Scheme-Earth-Economic/dp/1637632770 Dan’s bio: https://mises.org/profile/daniel-j-mitchellDan’s International Liberty blog: https://danieljmitchell.wordpress.com/Dan’s post “OECD Economic Research Finds that Government Spending Harms Growth”: https://danieljmitchell.wordpress.com/2016/11/28/oecd-economic-research-finds-that-government-spending-harms-growth/Dan’s post “The IMF, The Laffer Curve, And Supply-Side Economics”: https://freedomandprosperity.org/2022/blog/the-imf-the-laffer-curve-and-supply-side-economics/Lumo Coffee promotion
Lumo Coffee Discount: Visit Lumo Coffee (lumocoffee.com) and use code EXPLORED20 for a 20% discount until April 30, 2024.
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.
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In this episode, we delve into the controversy surrounding the Prospera charter city in Honduras, which has embraced libertarian principles and adopted Bitcoin as legal tender and a unit of account. The city is currently embroiled in a legal battle with the Honduran government. Gene asks Jeffrey Mason, from Charter Cities Institute, what it all means for the future of charter cities. Jeffrey provides some good examples of how charter cities still have a lot of potential, and he talks about projects CCI is involved in in Africa, particularly in Zanzibar. Tune in to gain insights into the intersection of governance, economics, and innovation in the context of charter cities.
Please get in touch with any questions, comments and suggestions by emailing us at [email protected] or sending a voice message via https://www.speakpipe.com/economicsexplored.
About this episode’s guest: Jeffrey Mason, Head of Research, Charter Cities InstituteJeffrey joined CCI as a Researcher in 2019. His research interests include urban economics, structural transformation, special economic zones, and technology ecosystems. He has worked on policy advisory projects in Nigeria, Tanzania, Zambia, and Honduras, among other countries. Prior to joining the Charter Cities Institute, Jeffrey worked as an MA Fellow at the Mercatus Center at George Mason University. He holds a BA in economics from the University of Maryland and an MA in economics from George Mason University. His writing has been featured in publications including City Journal, Works in Progress, Investment Monitor, Quartz Africa, and The American Mind.
What’s covered in EP234Introduction. (0:00)Honduran ZEDEs: zones for employment and economic development. (4:12)Honduran ZEDEs and impacts on local communities. (9:41)Investor-state dispute settlement mechanisms. (15:15)Charter cities and their potential to improve governance and economic growth. (20:37)Charter cities and urban development in Zanzibar. (26:15)Affordable housing development in Zanzibar, Tanzania. (30:56)Urban development and new city projects. (39:27)TakeawaysThe controversy surrounding Prospera in Honduras highlights the risks and uncertainties involved in charter city projects.The concept of charter cities is evolving, with a growing emphasis on affordability, local engagement, and sustainable development to ensure their long-term success.Legal and political stability, along with government partnerships, are crucial for the success of charter cities, as demonstrated by the contrasting experiences of Prospera and the Zanzibar project, Fumba Town, that Charter Cities Institute is involved in.Links relevant to the conversationJeffrey’s bio: https://chartercitiesinstitute.org/people/jeffrey-mason/Ryan Grim’s report at the Intercept “Honduras Ratchets Up Battle With Crypto-Libertarian Investors, Rejects World Bank Court”: https://theintercept.com/2024/03/19/honduras-crypto-investors-world-bank-prospera/Counter Points report “Honduras GOES TO WAR With Crypto Bros”, CCI's involvement with Fumba Town: https://chartercitiesinstitute.org/fumba-town/Fumba Town: https://chartercitiesinstitute.org/fumba-town/EP147 with Kurtis Lockhart on charter cities: https://economicsexplored.com/2022/07/11/charter-cities-a-public-private-partnership-ppp-model-w-kurtis-lockhart-ep147/Lumo Coffee promotion
Lumo Coffee Discount: Visit Lumo Coffee (lumocoffee.com) and use code EXPLORED20 for a 20% discount until April 30, 2024.
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.
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Michael Johnston, CFA of WealthChannel and show host Gene Tunny dissect the pressing issues facing the US Social Security system. Amid predictions of future insolvency, they discuss the demographic trends, financial realities, and policy adjustments needed to safeguard retirement incomes for future generations.
Please contact us with any questions, comments and suggestions by emailing us at [email protected] or sending a voice message via https://www.speakpipe.com/economicsexplored.
About this episode’s guest: Michael Johnston, CFAMichael Johnston, CFA is a financial industry veteran with a passion for improving outcomes for retail investors.
Following stints in corporate finance and investment banking, Michael founded ETF Database (ETFdb) and grew it into the largest independent media property covering exchange-traded funds (ETFs). Under Michael’s leadership, the company achieved a commanding position within the ETF industry and played a key role in the “low cost revolution” that saw hundreds of billions of dollars flow from expensive mutual funds to low cost ETFs.
ETFdb is now a part of TSX Group, a publicly-traded financial services company that operates the Toronto Stock Exchange.
Michael co-founded WealthChannel with a mission of helping investors achieve financial independence by radically simplifying retirement planning and investing. Michael is responsible for WealthChannel’s content and education initiatives, including its flagship WealthChannel Academy.
Michael graduated from the University of Notre Dame with a degree in finance, and now resides in Oregon with his wife and son. He is active in his community as a member of the Board of Directors of the Lane Regional Air Protection Agency (LRAPA) and a volunteer at Hosea Youth Services.
What’s covered in EP233[00:02:59] Sustainability of Social Security.[00:03:52] Retirement crisis in America.[00:09:43] Americans living longer.[00:13:25] Social Security trust fund depletion.[00:17:38] Social Security sustainability.[00:18:59] Social Security Funding Solutions.[00:24:36] Frankenstein policy solutions.[00:27:50] Immigration and Social Security.[00:30:46] Retirement age and social security.[00:35:54] Retirement savings statistics.[00:38:19] Retirement and financial literacy.[00:41:26] Retirement savings options in the States.[00:45:02] Social Security explained.[00:50:26] Social Security and retirement accounts.TakeawaysSocial Security Sustainability: The Social Security program in the US faces sustainability challenges due to changing demographics and financial dynamics.Retirement Crisis: There is a retirement crisis in the US, with nearly half of Americans having no retirement savings and relying heavily on Social Security for income in retirement.Potential Solutions: Various solutions were discussed, including raising the retirement age, adjusting cost-of-living adjustments, and increasing contributions to shore up the system.Individual Retirement Accounts: The US offers tax-effective retirement savings options like 401(k)s and Roth IRAs, but many Americans are not effectively using these tools.Comparison with Other Countries: The discussion highlighted differences in retirement systems between the US and countries like Australia, where superannuation accounts play a significant role in retirement planning.Links relevant to the conversationMichael Johnston’s bio: https://wealthchannel.com/about/michael-johnston/Wealth Channel Academy, Michael Johnston's initiative to demystify retirement planning: https://wealthchannel.comLumo Coffee, sponsor of the episode offering antioxidant-rich coffee: https://lumocoffee.comSocial Security Administration: https://www.ssa.gov/Millions of Americans nearing retirement age with no savings - CBS News: https://www.cbsnews.com/news/millions-of-americans-nearing-retirement-age-no-savings/EP87 – Saving & investing for retirement: 401(k)s, IRAs, mutual funds, ETFs, etc: https://economicsexplored.com/2021/05/15/ep87-saving-investing-for-retirement-401ks-iras-mutual-funds-etfs-etc/Lumo Coffee promotion
Lumo Coffee Discount: Visit Lumo Coffee (lumocoffee.com) and use code EXPLORED20 for a 20% discount until April 30, 2024.
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.
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