Macro Musings with David Beckworth

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Chris Meissner is a professor of economics at University of California at Davis and is the author of the recent book One from the Many: The Global Economy Since 1850. In Chris's first appearance on the podcast he discusses the historical bend towards greater globalization, how we should really define the global economy, the impact of the Great Financial Crisis on globalization and populism, the scope of globalization from the 1820's to today, the validity of the China Shock, the United States' current move away from globalization, and much more.
Check out the transcript for this week's episode, now with links.
Recorded on February 19th, 2026
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Timestamps
00:00:00 - Intro
00:01:50 - History Tends Toward Globalization
00:05:55 - What Is the Global Economy?
00:19:08 - Great Financial Crisis
00:22:15 - First Wave of Globalization: 1820–1914
00:29:42 - Interwar Period: 1918–1938
00:40:51 - Post-War Bretton Woods Arrangement
00:49:36 - The China Shock
00:55:40 - Detour from Globalization
00:59:44 - Outro

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Raghuram Rajan is a finance professor at the University of Chicago and leads the Group of 30. Previously he was the chief economist at the IMF and the governor of the Reserve Bank of India. In Raghuram's first appearance on the show, he discusses his famous 2005 Jackson Hole speech, how he righted the ship on India's emerging economy, the consequences of zero-sum thinking, the differences between being a policymaker and an academic, the ratcheting effect of QE on the Fed's balance sheet, and much more.
Check out the transcript for this week's episode, now with links.
Recorded on January 20th, 2026
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Timestamps
00:00:00 - Intro
00:01:58 - Raghu's Career
00:22:20 - Policymaker Versus Academic
00:29:00 - Ratcheting Effect of Quantitative Easing
01:01:06 - Outro

Andrew Martinez is a former Treasure economist and currently is an assistant professor of economics at American University. In Andrew's first appearance on the show, he discusses his career as a forecaster, the current state of forecasting, the intersection of AI and forecasting, the role of the SEP and monetary policy surprises, his work with David on the NGDP Gap measure, and much more.    
Check out the transcript for this week's episode, now with links.
Recorded on January 13th, 2025
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Timestamps
00:00:00 - Intro
00:01:20 - Andrew's Career
00:08:36 - State of Forecasting
00:20:19 - AI and Forecasting
00:29:34 - The SEP and Monetary Policy Surprises
00:41:07 - Nominal GDP/Expectations Gap
00:54:56 - Outro

Dan Awrey is a professor of Law at Cornell University and the author of the new book Beyond Banks: Technology, Regulation, and the Future of Money. Dan returns to the show to discuss his new book, the shadow monetary system, the case for markets to correct this problem, Gresham's new law, his proposals for fixing the payments system, and much more.
Check out the transcript for this week's episode, now with links.
Recorded on January 13th, 2025
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Timestamps
00:00:00 - Intro
00:01:16 - Beyond Banks
00:16:04 - Shadow Monetary System
00:26:07 - Can't Markets Solve Payment Problems?
00:28:16 - Gresham's New Law
00:40:27 - Dan's Proposal for Money and Payments
00:55:51 - Outro

Scott Sumner is the Ralph G. Hawtrey Chair Emeritus of Monetary Policy and the founder of the Monetary Policy Program at Mercatus. Scott returns to the show, to discuss his life post Mercatus, nominal GDP counterfactuals of the pandemic and the Great Financial Crisis, the role of QE in inflation, the fears about Fed independence, and much more.
Check out the transcript for this week's episode, now with links.
Recorded on January 15th, 2025
Subscribe to David's Substack: Macroeconomic Policy Nexus
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Timestamps
00:00:00 - Intro
00:01:34 - Scott's Life Post Mercatus
00:05:28 - Nominal GDP Targeting
00:19:53 - Quantitative Easing
00:38:28 - Fed Framework Review
00:42:36 - Fed Independence
01:04:33 - Outro