Welcome back to the Ten Blocks podcast. This is Brian Anderson, the editor of City Journal.

Joining me on today's show is

Judge Glock. Judge is the director of research and a senior fellow at the Manhattan Institute,

and he's a contributing editor of City Journal. He writes about economics, finance, housing,

homelessness, a lot of different issues with a perspective informed by his broader study of

economic history. Judge has written

a number of important stories for City Journal, and his work has been featured in the New York Times,

Wall Street Journal, and other publications. Today, we're going to discuss his feature essay in our

summer issue, which is called a new supply-side agenda. It takes a look both backward and

forward to consider how the nation can reignite robust economic growth and innovation. So, Judge,

thanks, as always, for joining us. Oh, thanks so much for having me back, Brian. We'll get to the

specifics of that agenda as you lay it out, but why don't we begin, as you begin,

by talking about the parallels between our current economic situation and that of the 1970s and early 80s.

As you note in the essay, many of the problems we face today are similar, though they're taking

different forms.

So I wonder, you know, if you could just discuss for a moment, what were the economic

problems of that earlier era?

And how would you compare them to the challenges we currently confront?

So in the 1970s, you really saw an explosion of a few things that made people very

distrustful of the kind of New Deal consensus that had been the dominant policymaking mode for

the past 30 to 40 years. And there were some clear issues like inflation, which took off in the 1970s to an unprecedented level in American peacetime history, peaking at over 10% a year at one point.

And other issues like declining productivity, even though you had seen an incredible boom and living standards in the 1950s and the 60s.

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