205 | John Quiggin on Interest Rates and the Information Economy

205 | John Quiggin on Interest Rates and the Information Economy

The idea of an "interest rate" might seem mundane and practical, in comparison to our usual topics around here, but there is a profound philosophical idea lurking in the background: if you lend me money now against the promise of me paying you back more in the future, I am relating the different values that a certain sum has to me at different moments in time. Traditionally, the interest rates set by the government have been a major tool for influencing the economy, but in recent decades they have increasingly fallen near zero. John Quiggin relates this change to the shift from manufacturing to an information economy, and we talk about what that means for the public interest in having information be reliable and widely available. And yes, there is a bit about crypto.

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John Quiggin received his Ph.D. in economics from the University of New England. He is currently a VC Senior Fellow in Economics at the University of Queensland. He is a Fellow of the Econometric Society and the Academy of the Social Sciences in Australia. Among his books are Zombie Economics: How Dead Ideas Still Walk Among Us and Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly.


Episoder(416)

AMA | December 2024

AMA | December 2024

Welcome to the December 2024 Ask Me Anything episode of Mindscape! These monthly excursions are funded by Patreon supporters (who are also the ones asking the questions). We take questions asked by Pa...

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297 | Emily Wilson on Homer, Poetry, and Translation

297 | Emily Wilson on Homer, Poetry, and Translation

Not too long ago, Brad Pitt and Eric Bana starred in a (loose) adaptation of Homer's epic poem The Iliad; next month, Ralph Fiennes and Juliette Binoche will headline a film based on The Odyssey. Give...

25 Nov 20241h 15min

296 | Brandon Ogbunu on Fitness Seascapes and the Course of Evolution

296 | Brandon Ogbunu on Fitness Seascapes and the Course of Evolution

Biological evolution via natural selection is a simple idea that becomes enormously complicated in its realization. Populations of organisms are driven toward increased "fitness," a measure of how suc...

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295 | Solo: Emergence and Layers of Reality

295 | Solo: Emergence and Layers of Reality

Emergence is a centrally important concept in science and philosophy. Indeed, the existence of higher-level emergent properties helps render the world intelligible to us -- we can sensibly understand ...

11 Nov 20241h 35min

AMA | November 2024

AMA | November 2024

Welcome to the November 2024 Ask Me Anything episode of Mindscape! These monthly excursions are funded by Patreon supporters (who are also the ones asking the questions). We take questions asked by Pa...

4 Nov 20243h 50min

294 | Addy Pross on Dynamics, Stability, and Life

294 | Addy Pross on Dynamics, Stability, and Life

Erwin Schrödinger said that the important characteristic of life is that it "goes on doing something... for a much longer period than we would expect an inanimate piece of matter to keep going under s...

28 Okt 20241h 11min

293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

A large economy is one of the best examples we have of complex dynamics. There are multiple components arranged in complicated overlapping hierarchies, out-of-equilibrium dynamics, nonlinear coupling ...

21 Okt 20241h 11min

292 | Jonathan Birch on Animal Sentience

292 | Jonathan Birch on Animal Sentience

It's not immoral to kick a rock; it is immoral to kick a baby. At what point do we start saying that it is wrong to cause pain to something? This question has less to do with "consciousness" and more ...

14 Okt 20241h 10min

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