Uploaded February 2025 | Updated September 2026, 2 hours ago
In this episode, Noah Smith and Erik Torenberg discuss how Ukraine has proven surprisingly resilient throughout the war by maintaining its economy and developing significant domestic drone manufacturing capabilities. He argues that "Europe is not toothless" despite America's shifting role, detailing how Europe collectively has greater manufacturing capacity than America and identifying three key reforms Europe needs: deregulating software, building energy infrastructure, and removing internal trade barriers.
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SPONSORS:
NetSuite
More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: netsuite.com/102
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Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: incogni.com/econ102
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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:
@noahpinion
@eriktorenberg
@turpentinemedia
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RECOMMENDED IN THIS EPISODE:
Noahpinion newsletter: It’s time for Europe to stand up https://www.noahpinion.blog/p/its-time-for-europe-to-stand-up
Book: Old Man’s War by John Scalzi goodreads.com/book/show/36510196-old-man-s-war
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TIMESTAMPS:
(00:00) Intro
(01:02) On Ukraine and Russia
(05:27) European involvement in the conflict
(15:14) Historical context and comparisons
(16:50) Sponsors: Netsuite | Found
(19:15) Russia's historical defeats
(19:47) Putin's imperial ambitions
(24:25) Balancing powers in Europe
(27:28) Sponsor: Incogni | Adquick
(29:48) Russia, China, and Europe's defense
(36:59) The future of Ukraine
(47:03) Economic reforms for Europe
(53:40) Wrap
In this episode, Noah Smith and Erik Torenberg discuss how Ukraine has proven surprisingly resilient throughout the war by maintaining its economy and developing significant domestic drone manufacturing capabilities. He argues that "Europe is not toothless" despite America's shifting role, detailing how Europe collectively has greater manufacturing capacity than America and identifying three key reforms Europe needs: deregulating software, building energy infrastructure, and removing internal trade barriers.
--
SPONSORS:
NetSuite
More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: netsuite.com/102
AdQuick
The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit adquick.com today to start reaching your customers in the real world.
Found
Found provides small business owners tools to track expenses, calculate taxes, manage cashflow, send invoices and more. Open a Found account for free at found.com/econ102
Incogni
Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: incogni.com/econ102
--
SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co
--
FOLLOW ON X:
@noahpinion
@eriktorenberg
@turpentinemedia
–
RECOMMENDED IN THIS EPISODE:
Noahpinion newsletter: It’s time for Europe to stand up https://www.noahpinion.blog/p/its-time-for-europe-to-stand-up
Book: Old Man’s War by John Scalzi goodreads.com/book/show/36510196-old-man-s-war
–
TIMESTAMPS:
(00:00) Intro
(01:02) On Ukraine and Russia
(05:27) European involvement in the conflict
(15:14) Historical context and comparisons
(16:50) Sponsors: Netsuite | Found
(19:15) Russia's historical defeats
(19:47) Putin's imperial ambitions
(24:25) Balancing powers in Europe
(27:28) Sponsor: Incogni | Adquick
(29:48) Russia, China, and Europe's defense
(36:59) The future of Ukraine
(47:03) Economic reforms for Europe
(53:40) Wrap
![Analyzing Economies: England, France, Germany, Poland, Turkey, & the EU [Round 2]](https://i.ytimg.com/vi/wHoIKwBTs1k/mqdefault.jpg "Analyzing Economies: England, France, Germany, Poland, Turkey, & the EU [Round 2]
In our second installment of Analyzing the Economies Around the World, Noah Smith and Erik Torenberg cover Europe and Turkey. They discuss the UKs productivity issues, Frances nuclear energy investments, Germanys weaknesses, Polands economic success, Turkeys economic policies, and immigration challenges across the EU and Europe.
This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.
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SEND US YOUR Qs FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co
Links:
Noah Smiths Noahpinion https://www.noahpinion.blog
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X / TWITTER:
@noahpinion (Noah)
@eriktorenberg (Erik)
@TurpentineMedia (Turpentine)
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TIMESTAMPS:
(00:00) Intro
(00:30) UKs economic challenges
(07:25) Frances nuclear power success
(12:02) Germany’s trust problem
(24:28) Sponsor: Turpentine
(25:36) Italy’s stagnant and declining economy
(26:33) Polands economic rise
(31:24) Poland responding to external threats
(32:25) Europes immigration challenges
(45:13) EUs future despite economic and regulatory obstacles.
(52:34) Turkeys economic landscape and prospects
(58:17) Wrap
Music license:
#2850")
