Shownotes Transcript
Noah Smith and Erik Torenberg explore the factors contributing to rising grocery prices and the impact of inflation on consumer sentiment, as well as debunking misconceptions about inflation. Match a donation up to $100 for your favorite charity with GiveWell by going to https://givewell.org) and pick “Podcast” and enter Econ 102 at checkout.
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Watch and Subscribe on Substack: https://requestforstartups.substack.com/p/receipt-based-dating-reference-checks)
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We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com).
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Sponsors: GIVEWELL | NETSUITE
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Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co)
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LINKS:
Noahpinion on Substack: https://www.noahpinion.blog/)
Noah Smith, "Why are your groceries still so expensive?" on Substack: https://www.noahpinion.blog/p/why-are-your-groceries-still-so-expensive)
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X / TWITTER:
@noahpinion) (Noah)
@eriktorenberg) (Erik)
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TIMESTAMPS:
(00:58) Episode preview
(03:00) The impact of inflation on consumer sentiment
(07:08) Factors of inflation
(13:52) The role of rent and monopoly power
(15:26) SPONSOR: GIVEWELL
(20:33) Wages and immigration impacting grocery prices
(24:47) Grocery prices and supply chain snarls
(25:52) SPONSOR: NETSUITE
(27:15) Causes of inflation and deflation
(31:04) Impact of aggregate supply and demand on inflation
(34:25) Low & stable inflation
(37:14) Erasing debt
(42:17) How innovation affects inflation
(51:09) Tech and real incomes
(52:36) Inflation in the 80s and 90s
(53:34) Expectation anchoring & inflation control
(59:20) COVID and inflation expectations
(01:04:37) Costless disinflation & manipulating expectations