The last time economist Tyler Cowen was on Honestly about a year ago, inflation was the highest it had been in 40 years, gas prices were nearly $7 a gallon in many parts of the country, and Russia's invasion of Ukraine was leading to a lot of fears about breadlines and nuclear war. A lot has changed since then. Especially in the last two weeks.
Today, Cowen is back on the show to once again explain: what the heck is going on with the economy!? We talk about the collapse of Silicon Valley Bank, the psychology of bank runs, whether or not we’re seeing a larger banking crisis, recession anxiety, persistent inflation, a beleaguered tech industry, the seduction of crypto in this moment and the potential salvation of AI. Plus, how many hours Tyler spends on ChatGPT each day, what he thinks of his interview with Sam Bankman-Fried, how altruism is a form of power and why Silicon Valley is a scapegoat.
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Excellent interview, Bari. I used to work in financial regulation and almost everything your guest said about the financial system is spot on (imho). I respect how he elaborates his point of view in such a way that listener understand where he’s coming from, especially for a topic that is highly complex.
As for AI, I think the verdict it still out whether it will be “good” or “bad” for society, as was the case with the internet, social media and the printing press.
I really like this podcast. Unbiased, straightforward and honest. One point they didn’t make is that the California Fed has 3 messed up banks - First Republic, Silvergate and SVB. California is a clown show, stem to stern.