Thursday, July 16, 2020

Goodfellows and Garicano Interview

I did two videos last week that blog readers may enjoy.

I did an interview with Luis Garicano in his "capitalism after coronavirus" series

We covered many topics, but the aftermath of the huge government debt now being racked up is possibly the most interesting, at least to me.

Luis is currently a member of the European Parliament. Among many other things he was a PhD student and then professor of economics at the University of Chicago. He's a also a great interviewer. The interview is also available in Spanish, here.

In the latest Goodfellows, Niall, HR and I interview Victor Davis Hanson, about Trump, cancel culture, and the future of universities.



  1. Dear John,

    I really enjoyed your conversation with Garicano. I particularly liked your comments on the fiscal theory of the price level. I hope you don't mind me asking a simple question. You are saying that when investors fear that the government may not be able to repay its debt, these investors will try to get rid of those financial assets and buy real assets with the proceeds. This will cause inflation, as you said, but for that to happen, there should be a lot of money goes from financial assets to real assets. For that to happen, the new bond investors (who buy from the old bond investors who fear that the government won't be able to meet the next round of interest payments) should be paying a large amount of money. If they are not, then the old bond investors won't be able to buy many real assets, and therefore they won't be able to affect prices that much. Maybe I am missing something. I would be very grateful to you if you could please give me some insight on this.

    Thank you for your insightful blog.

  2. I listened to over 40 minutes of your goodfellows conversation with victor david hansen.

    You spent most of this time beating up on what you think is the left.

    Well, that's easy enough to do. But what I would really like to hear is a criticism of current right wing views. I, for one, do not really understand what right and left stand for anymore. But what I do know for sure is that the only criticisms that matter are those that critsize your own side.

    1. I too was struck by the one sidedness of the conversation. Not precisely what I expected.

      True, they made no pretense of doing journalism here.

      So, therefore, my overall impression is that this was "conservative coffee talk", a conversation in a smoke-filled room.

      Nothing wrong with that--they're certainly entitled. But did they have a more noble, public service purpose in mind? If so, I didn't see it.


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