Tyler Goodspeed on Challenging the Way Economists Look at Recessions
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Tyler Goodspeed on Challenging the Way Economists Look at Recessions
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Summary
Tyler Goodspeed is the former chairman of the Council of Economic Advisors and is currently a chief economist in the private sector. In Tyler's first appearance on the podcast he discusses his new book highlighting a different way of looking at recessions, the challenge of breaking away from the human inclination of ascribing patterns to random phenomena, whether recessions are more Dorian Gray or Peter Pan, what history and stories like Jay Cooke tell us about recessions, how to evaluate supply side shocks and the 2008 Financial Crisis, why Milton Friedman's Plucking model might be the best we have at modeling recessions, and much more.
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Recorded on April 15th, 2026
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Timestamps
00:00:00 - Intro
00:00:43 - Recessions
00:07:07 - Epiphanies or Apophanies
00:26:40 - Peter Pan vs. Dorian Gray
00:33:40 - Jay Cooke and the Railroad
00:39:00 - Models of Recessions
00:47:55 - Supply Shocks
00:50:12 - Recessions in Different Places
01:00:25 - Outro