Minuscule Volatility in Stocks Is Puzzling, Thaler Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 10 October 2017
⏱️ 51 minutes
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Summary
Richard Thaler, the winner of the Nobel Prize in Economics, discusses volatility in stocks and says stocks can't be based on the certitude that there will be a massive tax cut. Prior to that, Kevin Hassett, the chair of the Council of Economic Advisers, says tax reform deserves bipartisan support. Luigi Zingales, a finance professor at the University of Chicago's Booth School of Business, says it's impossible to think about economics without behavioral economics. Finally, Olivier Blanchard, a senior fellow at the Peterson Institute, says tax reform won't boost growth.
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| 0:00.0 | Welcome to Crash Course, a podcast about business, political, and social disruption and what we can learn from it. |
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| 0:28.0 | or wherever you get your podcasts. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with David Gura. |
| 0:44.8 | Daily, we bring you insight from the best of economics. |
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| 0:57.0 | on the Bloomberg. |
| 0:59.0 | David Gere, Tom Keene, here New York, going to have a conversation now with |
| 1:05.3 | Kevin Haas at the Chairman of the White House Council of Economic Advisors |
| 1:08.1 | he's been waiting into the subject of tax reform here recently. Went into the |
| 1:11.8 | Lions Den last week, delivered a major speech at the Tax Policy Center |
| 1:15.3 | at an event convened by the Tax Policy Center in the Tax Foundation. |
| 1:19.1 | I think the most provocative lines in that speech might have been, I look forward to your questions after some criticism |
| 1:24.3 | of the analysis the Tax Policy Center did of the proposal put forward by the Big Six a couple of weeks ago. |
| 1:30.2 | Now Kevin Has it, great to have you with us here on our phone lines. You were intended to make a speech |
| 1:34.2 | about tax from. You were critical of the way the Tax Policy Center went about its analysis. |
| 1:37.9 | What prompted you to do that? What struck you as most wrong about what they did? |
| 1:45.5 | I think the most wrong thing about the Tax Policy Center study was just that they not only didn't allow for any growth effects of |
| 1:50.2 | tax reform but they said at the beginning of their studies that if they did |
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