Uploaded June 2025 | Updated September 2026, 3 days ago

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This week, Noah Smith and Erik Torenberg explore persistent economic myths and recent developments—from cost disease in services like healthcare and education to stagnating manufacturing productivity, rising higher education costs, drug pricing policies, and student loan debates—while also reflecting on broader intellectual shifts driven by culture wars and foreign aid discussions.

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RECOMMENDED IN THIS EPISODE:
Noahpinion: https://www.noahpinion.blog/

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TIMESTAMPS:
(00:00) Intro
(00:19) Disclosure
(01:56) Debunking economic tropes: Cost disease
(03:04) Manufacturing vs. service productivity
(06:58) Role of technology in services
(11:51) Student loans and economic policy
(13:43) Sponsors: Netsuite | Adquick
(15:57) Understanding inflation measures: CPI vs. PCE
(19:27) Real cost of college
(20:27) Value of trade jobs
(21:26) Pharmaceutical price controls
(24:16) Debating foreign aid efficiency
(27:00) Dictatorship vs. democracy
(30:15) Culture wars and generational stagnation
(37:14) Wrap