This podcast episode delves into the fragility of globalization and the need for more resilient economic systems. The conversation explores the impact of the pandemic on supply chains and questions the efficiency and resilience of markets. It emphasizes the trade-off between individual rewards for efficiency and the negative externalities imposed on the economy and society. The discussion also highlights the importance of encouraging long-term decision-making and behavior in firms, as well as the role of legislation in promoting resilience. The episode delves into the vision for environmental policies and the tension between globalization and environmental responsibility. Additionally, it explores the limitations of GDP as an indicator of well-being and discusses the failure of neoliberalism as the dominant economic framework. The section concludes with reflections on the responsibilities of corporations and the curiosity about economic concepts learned in college.
