Friday, April 15, 2022

Video week

It's been a busy week for video. I started Monday with a good roundtable with Benn Steil at the Council on Foreign Relations "Understanding Inflation and its Causes

Tuesday we did a great Goodfellows conversation with Larry Summers. (Audio podcast at that link, plus video if the embed doesn't work.) Larry answers "what would you do at the Fed" much better than I did when Benn asked, among other great topics. 

This week also Casey Weade posted a podcast and video interview we did on Fiscal Theory of the Price Level, for a general audience, at his "Retire with Purpose" podcast. Casey did a great job asking good questions and steering the conversation. Link, including audio podcast

More got recorded, not up yet... a busy week.  


  1. John Cochrane's responses were spot on. Incentives are critical. Our tax code is a mess. A flat tax with a UBI could be a fix. The flat tax would decrease compliance time enough to pay for the UBI. The UBI (set at the poverty rate, $10K/adult and $3K/child) would allow the poor to participate in the system without fear or disincentive. The rich would get the UBI instead of deductions. The greater economic growth plus lower effective tax rates would mean the rich might pay more, but on higher incomes. Social Security could be reduced by the UBI, for no net loss.

    1. I don't think UBI is a fix because it creates a fixed cost for labor, or if you will a lower boundary. Expansion of the EITC is more efficient.

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