For this episode, Noah Smith and Erik Torenberg are joined by Sebastian Bensusan, an Argentinian engineer, to discuss Argentina's unique inflation problem, its agricultural and mining sectors, dollarization, voting patterns, and more. Match a donation up to $100 for your favorite charity with GiveWell by going to https://givewell.org and pick “Podcast” and enter Econ 102 at checkout.

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Sponsors: GIVEWELL | NETSUITE
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Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

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LINKS:
- Sebastian Bensusan's blog: https://blog.sbensu.com/
- Noahpinion on Substack: https://www.noahpinion.blog/
- Noah Smith, "Argentina's macroeconomic situation is even worse up close" on Substack: https://www.noahpinion.blog/p/argentinas-macroeconomic-situation

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X / TWITTER:
@noahpinion (Noah)
@sebasbensu (Sebastian)
@eriktorenberg (Erik)

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TIMESTAMPS:
(00:55) Episode Preview
(03:25) Argentina's Economy & Industries
(09:00) Lack of Development State
(14:19) Argentina's Welfare State
(15:45) SPONSOR: GIVEWELL
(17:41) Fiscal Dominance & Monetary Financing
(28:20) Hyperinflation & Dollarization
(30:46) SPONSOR: NETSUITE
(43:27) Inflation & Threshold Effects
(48:39) Impact of Inflation on Bonds & Borrowers
(52:55) The Vicious Cycle of Inflation in Argentina
(55:10) Effects on Savings
(57:36) Need for Development State
(01:00:01) Replacing Welfare State with Growth
(01:08:14) Privatization & Corruption in Argentina
(01:10:40) The Essence of a Development State
(01:13:04) Refocusing Argentina on Real Economy
(01:14:03) Process-Oriented vs Outcome-Oriented
(01:14:59) Post-Macroeconomics Argentina