Professor Wolff and Professor Diesen, renowned economist and probably the internet best political host for rather low key yet penetrating discussion, have a 1 hour talk. It is long so you do not have to watch it.
I watched the whole thing, and enjoyed it. Professor Wolff likes to talk about the past, then bring to the present, and does that again, highlighting what was the Marshall Plan, and making a parallel to the bizarre Trump deal with von der Layen of today. How could these European politicians justify that to its own people? Prof Wolff said to Prof Diesen, who did not offer up an answer. Heh.
Actually did not remember much about this video, but since the mod want some commentary, I remember the last part, but then remember the above.
The last part, Prof Diesen said that Europe was too used to living in Uncle Sam's basement, and cannot let go, that was the message. That characterization made Prof Wolff laugh. But, there was an important point there.
Prof Wolff then recounted a conversation he had with a high level Chinese economist, who basically was talking about the same set up. That the United States provided this umbrella for growth, for Europe after the war, and later other countries, with China probably the very last one. He mentioned the dialectic, of how to navigate in it, and calibrate your moves, the Chinese economist said. My interpretation here, is that this told Prof Wolff the Chinese were willing to take risks and change the system, ever so slightly, moving it a little bit at a time. Note that this also spoke volumes about the United States, who did not see it coming, and even more volumes of the Europeans, who seemed complacent or scared crapless. Prof Wolff could not decide was it was, he though simple explanation were useless that several factors shaped something. Prof Diesen, we can see the wheels in his head turning, but remained silent.
It was a nice video.
