The New Left vs The New Right
Apr 01, 2025•1 hr 9 min•Transcript available on Metacast Episode description
This week, Noah Smith and Erik Torenberg explore the rise of the 'abundance' ideology among Democrats, assess Obama's economic legacy, and analyze the New Right's evolving influence, offering a broad perspective on shifting political and economic discourse.
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SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co
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FOLLOW ON X:
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@eriktorenberg
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RECOMMENDED IN THIS EPISODE:
Noahpinion: https://www.noahpinion.blog/
Cory McArthur aka Irish Lotus: https://soundcloud.com/cory-mcarthur-879994262/irish-lotus
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TAKEAWAYS:
"Abundance" as a Political Concept: Abundance represents national unity and a "we're all in this together" approach, focusing on making things better for all Americans rather than pitting groups against each other.
Economic Analysis: Demand vs. Supply Constraints: They discuss how the 2008 financial crisis created an "aggregate demand shock" where everyone wanted to hold cash rather than spend.
National Debt Discussion: They discuss how US debt grew from 60% to 100% of GDP during Obama's administration. They also mention AI could potentially help by increasing productivity growth.
"The New Right" Ideology: Noah characterizes the "new right" as centered around defending "Western civilization" in a more narrow sense than previous definitions.
Social Media's Impact on Politics: Noah argues that small, vocal minorities on social media have outsized influence on institutions.
