Uploaded May 2025 | Updated September 2026, 9 hours ago
This week, Noah Smith and Erik Torenberg debunk myths about the American middle class and globalization, analyze historical data on wage stagnation and trade, assess China’s technological rise, and discuss U.S. economic resilience and policy responses to protectionism.
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SPONSORS:
NetSuite
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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:
Globalization did not hollow out the American middle class: https://www.noahpinion.blog/p/globalization-did-not-hollow-out
Noahpinion: https://www.noahpinion.blog/
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TIMESTAMPS:
(00:00) Intro
(00:20) Disclosure
(01:25) Debunking the middle class hollowing myth
(03:37) Reality of wage stagnation
(06:02) Impact of globalization on wages
(07:56) Service sector jobs and economic shifts
(09:12) Misconceptions about globalization
(11:36) Sponsors: Netsuite | Adquick
(13:41) Oil shocks and economic changes
(20:28) Deindustrialization and manufacturing challenges
(25:16) China shock and its aftermath
(27:04) Debating economic protectionism
(28:21) Main story of the American economy
(30:01) Tariffs and their impact on manufacturing
(31:06) Promoting exports over imports
(33:44) China's economic evolution
(36:54) Future of Chinese and American economies
(46:51) Technological leadership and political challenges
(50:17) Wrap
This week, Noah Smith and Erik Torenberg debunk myths about the American middle class and globalization, analyze historical data on wage stagnation and trade, assess China’s technological rise, and discuss U.S. economic resilience and policy responses to protectionism.
–
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.
–
SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co
–
FOLLOW ON X:
@noahpinion
@eriktorenberg
@turpentinemedia
–
RECOMMENDED IN THIS EPISODE:
Globalization did not hollow out the American middle class: https://www.noahpinion.blog/p/globalization-did-not-hollow-out
Noahpinion: https://www.noahpinion.blog/
–
TIMESTAMPS:
(00:00) Intro
(00:20) Disclosure
(01:25) Debunking the middle class hollowing myth
(03:37) Reality of wage stagnation
(06:02) Impact of globalization on wages
(07:56) Service sector jobs and economic shifts
(09:12) Misconceptions about globalization
(11:36) Sponsors: Netsuite | Adquick
(13:41) Oil shocks and economic changes
(20:28) Deindustrialization and manufacturing challenges
(25:16) China shock and its aftermath
(27:04) Debating economic protectionism
(28:21) Main story of the American economy
(30:01) Tariffs and their impact on manufacturing
(31:06) Promoting exports over imports
(33:44) China's economic evolution
(36:54) Future of Chinese and American economies
(46:51) Technological leadership and political challenges
(50:17) Wrap
