Shaping a Preferable Economic Future with Eli Dourado

As we step into a new decade, it’s a good time to reflect on our expectations for the next 10 years. There are a wide variety of possible futures, some of them more plausible than others, but how do we shape a preferable future? Today’s guest believes that technological advancements could result in what he calls the ‘Roaring 20s’, with a productivity and economic boom that extends well beyond the expected post-pandemic rebound. Eli Dourado is an economist and regulatory hacker living in Washington, DC, and a senior research fellow at the Center for Growth and Opportunity at Utah State University. His research is focused on dramatically increasing the pace of innovation and economic growth, especially in hard tech and aerospace, and in today’s episode, he outlines what total factor productivity (TFP) is and why it matters, how technology could lead to the end of what he calls the Great Stagnation, and how charter cities fit into the concept of neomedievalism. We also discuss the interplay between political change, technology, and geography, and how meaningful policy change can result from the deployment of new technologies, as well as how NEPA prevents the government from accelerating growth and why we should bring back wooly mammoths. Tune in for a fascinating conversation about shaping a preferable future with Eli Dourado!   Key Points From This Episode:   •   Eli starts by explaining what total factor productivity (TFP) is and why it matters. •   Why he is focused on TFP as a means for future economic growth. •   Five inventions that led to past TFP growth, from the internal combustion engine to electricity. •   Learn about the Great Stagnation and why Eli is concerned about TFP growth since 2005. •   How reliable total factor productivity statistics are and how they are calculated. •   Why there appears to be a disparity between dissemination of products and the rate at which innovation is impacting TFP