Preparing for a Second China Shock and Bad Economists with Brad DeLong

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.