Inflation — History, Causes & Case Studies with Mark Blyth

Kishore Mahbubani is a distinguished Singaporean diplomat, academic, and author, renowned for his incisive commentary on global geopolitics and the rise of Asia. He served in the Singapore Foreign Service as Permanent Secretary of the Ministry of Foreign Affairs and Singapore’s Ambassador to the UN, where he was President of the UN Security Council in 2001 and 2002. He was also the Founding Dean of the Lee Kuan Yew School of Public Policy from 2004 to 2017 and his bestselling books include The Great Convergence and Has China Won? Currently a Distinguished Fellow at the National University of Singapore’s Asia Research Institute, Mahbubani is celebrated as a leading voice on Asia’s growing influence, earning accolades like inclusion in Foreign Policy’s Top 100 Global Thinkers.(01:24) The US-China rivalry(13:44) The Taiwan issue(17:10) Global hegemony vs. domestic stability(22:42) Will China ever democratize?(24:35) Why poverty is a lack of freedom(25:14) China's political evolution(26:38) Pros & cons of democracy(29:34) The future of US-China relations(32:07) Evaluating Xi Jinping's Leadership(34:44) The importance of diplomacy(41:05) Lessons from Lee Kuan Yew(46:15) Paths to peace & cooperation(47:36) Advice for American citizens

This is a "book club" solo episode where I summarize & comment on a nonfiction book as part of the Due Diligence Book Club (Patreon available here). This episode is on All The Shah's Men by Stephen Kinzer published in 2003 about Operation Ajax, the CIA overthrow of Mohammad Mossadegh, the prime minister of Iran.

In this episode, I invite social & peace activist Adar Weinreb to the show. Adar shares his thoughtful perspective on the Israeli-Palestinian conflict, emphasizing the importance of humanization in creating the possibility of reconciliation. He reflects on his experiences as an IDF soldier and his evolution towards understanding the common humanity shared by both sides. We discuss the role of systemic change, his lessons from hosting debates on Israel/Palestine, and the potential of AI in facilitating civil discourse through his startup, Head On. Adar's insights offer a thoughtful approach to bridge-building based on the fundamental conviction in our ultimate oneness, a perspective we need more than ever.01:16 Introducing AAR Wine Rep02:05 AAR's Background and Perspective05:24 The Path to Peace and Humanization16:36 Challenges and Solutions for Peace23:55 The Role of External and Internal Forces28:32 The Importance of Grassroots Movements31:02 Criticism and Humanization34:01 Navigating Differences: Humanism and Critique34:51 Addressing Criticism: Fueling Antisemitism?35:51 Historical Context and Antisemitism54:19 The Role of Media and Misinformation56:33 Understanding Both Sides: Israeli and Palestinian Perspectives01:03:37 The Power of Change: Optimism and ActionAdar's YouTubeAdar's TwitterIf you'd like bonus material you can join the Patreon

In this episode, I delve into the fascinating history of Silicon Valley with Margaret O'Mara, a professor of American History at the University of Washington and a leading historian of Silicon Valley. We explore the relationship between the public and private sectors that fueled the growth of Silicon Valley, debunking the myth of the lone entrepreneur and highlighting the significant role of Cold War defense spending. Margaret shares insights from her celebrated book "The Code" which tells the behind-the-scenes story of the people who built Silicon Valley and shaped Big Tech. We also discuss the impact of elections on tech policy, the evolving influence of tech in Washington, and the rise of AI. We also discuss the parallels between today's tech landscape and the Gilded Age, the importance of historical perspective, and the future of tech innovation amid increasing US-China tensions and energy concerns.(00:00) Introduction(04:18) From Politics to Tech History(06:02) The Cold War Origins of Silicon Valley(08:30) The Human Storytelling Behind Tech(11:18) Is Silicon Valley A Meritocracy?(17:38) Tech's Political Influence(22:13) The Emergence of the Tech Right(23:01) A New Gilded Age(26:47) Antitrust & Regulation(31:06) What Democrats Need(36:10) Future of AI and Crypto(36:38) The 2024 Elections(39:37) China and the New Cold War(40:23) US Government Spending and Innovation(42:01) Defense Tech(45:45) The Role of Universities and Big Tech(52:27) The Rise of AI(56:56) Energy Concerns in AI(01:03:20) The Value of History

In this episode, I sit down with Glory Liu, author of Adam Smith's America: How a Scottish Philosopher Became an Icon of American Capitalism. We delve into her book which examines the intellectual history and evolving interpretations of Adam Smith's ideas in America. Liu, Assistant Research Professor at Johns Hopkins University, discusses how Adam Smith's works have been understood and often misunderstood throughout history. Our conversation covers how economic ideas, power, Milton Friedman and capitalism.Links & resources:Adam Smith's America (book)Glory Liu'swebsite

Mark Blyth is a political economist and the William R. Rhodes Professor of International Economics at Brown University. He is the author of several books including Austerity: The History of a Dangerous Idea (named one of the best books of the year in 2013 by the Financial Times and Bloomberg), Angrynomics, and a new book coming out in May 2025 called Inflation: A Guide for Users and Losers. His research is in international & comparative political economy and focuses on the political power of economic ideas, how institutions change, and the political economy of rich democracies. Mark is a native of Scotland and received his PhD in political science from Columbia University in 1999 and taught at the Johns Hopkins University from 1997 to 2009 before joining the Brown faculty in 2009. (04:34) What is political economy? (06:10) Mark's academic journey (08:28) How economic consensus is formed (11:01) What is inflation? (13:23) Good vs. bad inflation (17:55) The four main inflation "stories" (18:51) Which story prevails currently (20:57) How will tariffs affect inflation? (26:23) The tariff narrative (28:58) Capitalism 2.0 vs. 3.0 (29:43) The "hardware" & "software" of capitalism (34:23) The "bug" in our current system (37:13) The legacy of inflation in the 1970s (44:41) The Federal Reserve's toolkit (47:41) The Fed before the 1970s (49:27) Hyperinflation in Germany and Argentina (54:16) The structural causes of hyperinflation (56:19) Economic indicators of political unrest (59:01) The role of technological progress (01:02:40) What should capitalism 4.0 be? Pre-order Mark's book on inflation here Listen to Mark's podcast on Apple and Spotify

This episode is a deep dive into our founding document, the Declaration of Independence — its history, its intellectual influences, its legacy and ultimately its evolution into our national "scripture" as historian Pauline Maier calls it. 00:00 Introduction to the Declaration of Independence 01:23 The Myth That Binds Us 05:01 Historical Context and Influences 07:11 Early Colonial Period 18:04 The Road to Revolution 27:32 The Continental Congresses 32:49 Drafting the Declaration 42:35 Inspirations & Influences 45:23 Jefferson's Version 46:17 The Slavery Clause Controversy 51:34 Religious Language in the Final Draft 53:17 Structure and Purpose of the Declaration 58:07 The Declaration's Role in Securing Foreign Aid 01:00:41 The Influence of Enlightenment Philosophy 01:13:48 The Declaration as a Living Document 01:19:43 Lincoln's Reinterpretation at Gettysburg 01:22:52 The Declaration's Enduring Legacy 01:26:53 Final Words Books & Texts: The Declaration of Independence (side-by-side versions) American Scripture by Pauline Maier Inventing America by Garry Wills The Ideological Origins of the American Revolution by Bernard Bailyn American Gospel by Jon Meacham Common Sense by Thomas Paine John Quincy Adams's "Monsters to destroy" 1821 speech John Winthrop's "City upon a hill" 1630 sermon Lincoln's Gettysburg Address of 1863

I'm changing the direction of this podcast. In this solo episode I share the update, the personal realizations that have led me to this pivot, and what you can expect from Due Diligence moving forward. If you have thoughts/feedback, DM me on Instagram.

Keith Rabois is a cofounder of OpenStore, a platform connecting shoppers and merchants to create the ultimate decentralized "department store" of the internet. Keith is also a General Partner at Founders Fund, one of the top venture firms in the world. He is cofounder and executive chairman of OpenDoor, served on the boards of Yelp and Reddit, was Managing Director at Khosla Ventures, and COO at Square. Keith was an early employee at PayPal and has invested in legendary Silicon Valley startups like YouTube, Airbnb, Palantir, Eventbrite, Lyft, Quora, Yammer and Wish. He was named #8 on the Midas List in 2022 globally and #4 in the U.S. Learn about OpenStore Sign up for Gorgias

Sophia Amoruso is a serial entrepreneur who founded fashion retailer Nasty Gal and media startup Girlboss. She is also the NYTimes bestselling author of Girlboss, a business memoir that sparked a movement, inspired a Netflix show, and became solidly part of our entrepreneurial vernacular. She is now the founder of online course Business Class and VC fund Trust Fund. What we discuss: How she has evolved since publishing Girlboss If she would write another book Female founders & cancel culture How to deal with negative press What else she wants to accomplish Imposter syndrome Starting a fund Being an introverted VC Resources Female Founder World (podcast) My first interview with Sophia in 2015 Business Class (online course) Trust Fund