This podcast episode addresses pressing global issues including the looming legacy chip crisis driven by China's dominance in older chip production, the declining yet evolving role of economics in policy-making, and the future of warfare amid changing tactics and technologies. The hosts, Smith and DeLong, emphasize the need for the United States to bolster its domestic chip production as a response to supply chain vulnerabilities, while also reflecting on the evolution and self-critique within the economics profession post-2008 crisis. They examine missile defense capabilities, acknowledging its role but cautioning against overreliance, especially in light of new forms of warfare exemplified by ongoing conflicts like that in Ukraine.
