← All source episodes Conversations with Tyler / episode intelligence
Simon Johnson on Banking, Technology, and Prosperity
17 May 2023 38 published claims 2 attributable people
Speakers in the public record
Claim mix
belief 22recommendation 5evaluation 5prediction 2uncertainty 1observation 1commitment 1preference 1
Evidence policy
Every row below preserves an exact excerpt. Identified speakers are linked; unresolved voices are labeled and excluded from people counts.
Claim ledger
The useful parts, with receipts.
38 published records
“Coca-Cola dominates and so on. But I used Google, I used GPT, and everything I could find tells me the price of soft drinks, in real terms, has been falling.”
- Publisher
- Conversations with Tyler
“I’m a big fan of your book, Jump-Starting America, about science and science policy.”
- Publisher
- Conversations with Tyler
“The US, Tyler — we haven’t talked about this at all, but I think trade and trade policy and the politics of trade remain immensely complex in the US, and that’s not getting easier.”
- Publisher
- Conversations with Tyler
“Then we spent a lot of time doing fact checking and cleaning things up and tightening text. It was probably the most intense six months of my working life, I would say.”
- Publisher
- Conversations with Tyler
“If you had a central bank digital currency, I think a lot of people would’ve migrated, if they weren’t already holding that — they would’ve migrated from the bank account into that central bank digital currency, and that would be a big shift in the ability of the banks to fund their loan book.”
- Publisher
- Conversations with Tyler
“Let me tell you my worry and see what your response is: that once you start playing the credibility game, which ultimately you can’t avoid, that even letting a truly small bank — much smaller than SVB — fail, it sends a signal. And then, since about half of the deposits in US banks are not FDIC-insured, it doesn’t matter how small the bank is; the signal is, in a sense, infinitely large once it happens once.”
- Publisher
- Conversations with Tyler
“I think when autocrats behave badly and aggressively and invade other countries and otherwise mess with the world and the world economy, you should not have them at the big table.”
- Publisher
- Conversations with Tyler
“I think we can certainly push people to find ways to use the technology, the ways to use the technology that would enhance creativity, enhance productivity in a distributive way so all the gains don’t go to corporations, but no guarantee at all we’re going to get that outcome.”
- Publisher
- Conversations with Tyler
“I think that the people in NAFTA should worry about the British turning their backs on that, too, honestly, Tyler.”
- Publisher
- Conversations with Tyler
“I think the shrinking of distance, or a different view of distance, Tyler, after the pandemic, has got to be a helpful part of that.”
- Publisher
- Conversations with Tyler
“I do think that we might leave individual deposits at $250,000, where it is now. And we might have a sensible design of an insurance scheme for small-business transaction accounts, because I think if you have a nine-person startup, telling them to spend time on financial management when they’re trying to build a new hot sauce company — whatever it is — it’s a distraction and rather unfair.”
- Publisher
- Conversations with Tyler
“I think there’s a lot of validity to that. It was obviously also a derivative — I don’t know if bubble is quite the right word — but there was a view — and I was at the IMF, as you know, Tyler, in 2007 — and we had a view that was completely wrong, that derivatives had spread the risk around the world.”
- Publisher
- Conversations with Tyler
“Oh, I think that was just an attempt to illustrate what market concentration means, Tyler.”
- Publisher
- Conversations with Tyler
“I think a big part of what went right in the era of Henry Ford was the so-called engineer managers, the people who created the new tasks, the people who designed companies, the people who built these organizations.”
- Publisher
- Conversations with Tyler
“Technology policy, sure, but about technology more broadly. It’s a lot of fun, and, I think, a good complement to their other parts of education, which are obviously much more technical, much more mathematical.”
- Publisher
- Conversations with Tyler
“I think banking is a difficult business and rife with problems for the rest of us, Tyler, however you organize it.”
- Publisher
- Conversations with Tyler
“Great to see you, and great to see you today. These are good Tyler topics, I would say.”
- Publisher
- Conversations with Tyler
“I think the bigger argument that we’re making there is, look beyond the East and West Coast.”
- Publisher
- Conversations with Tyler
“The problem is not enough tech advances, so wages are somewhat stagnant until lately.”
- Publisher
- Conversations with Tyler
“I think you’ve got to be very careful when it comes to money-financed deficits anywhere, and use those kinds of measures only when there’s no alternative.”
- Publisher
- Conversations with Tyler
“I think there’s going to be a lot of repricing in that market for that reason. But I think the concern, Tyler, was that the convertibility would not happen, that those bonds would be protected precisely because of the kind of contagion fears that you mentioned a few moments ago.”
- Publisher
- Conversations with Tyler
“When you strip that out, I think their total balance sheet is a bit more than the reserves that the Swiss National Bank has, but they still have strong enough national balance sheet and a credible enough central bank.”
- Publisher
- Conversations with Tyler
“I think the regret actually there, Tyler, is much more about the impact of social media on political, economic, and social discourse, the way that people talk to each other, the way — what has happened to civility.”
- Publisher
- Conversations with Tyler
“Then those banks will take a lot more risk, and the problem gets bigger, and you raise deposit insurance premia.”
- Publisher
- Conversations with Tyler
“I agree, Tyler, it’s extremely awkward and not clear that it’s good for the people of Pakistan to continue on this sort of trajectory.”
- Publisher
- Conversations with Tyler
“I think an engineering or a science undergraduate degree is a very strong preparation for the modern world.”
- Publisher
- Conversations with Tyler
“I think that separation is something that’s sufficiently ingrained, and people are accustomed to it, but you’re right to push them, Tyler.”
- Publisher
- Conversations with Tyler
“I think with AI, there’s a lot of obviously huge discussion about all kinds of dimensions, but the piece that we really focus on and are concerned about is that more workers may be displaced from previously well-paying jobs, and without creating new tasks.”
- Publisher
- Conversations with Tyler
“They would’ve had a haircut. But then, Tyler, I think the key point that Sheila makes is, you should have insured all the other banks so that, in other words, uninsured deposits at Silicon Valley Bank would’ve had losses.”
- Publisher
- Conversations with Tyler
“I think a very sensible version of that would insure business transaction accounts, or operational deposits, as FDIC calls them.”
- Publisher
- Conversations with Tyler
“First of all, because Paul Krugman said in 1992 or something that it was the best possible predictor of the future, and it turns out to be pretty much right.”
- Publisher
- Conversations with Tyler
“I think getting better outcomes for more people sooner — including from, for example, artificial intelligence right now, Tyler — is something we need to put our minds to.”
- Publisher
- Conversations with Tyler
“I think the distinct difference we would make, just in terms of those facts, is that if you look at how people lived in cities — for example, in Manchester in the 1830s, which Engels wrote about — whether or not you like Marx and Engels, that was a really good, powerful description of working-class conditions.”
- Publisher
- Conversations with Tyler
“I think the bank-nonbank distinction is a really interesting one, Tyler, because of course, it all goes back to allowing money market funds to appear in the 1970s, which, in itself, was a reaction to high inflation and controls and interest rates.”
- Publisher
- Conversations with Tyler
“Ireland, Tyler, is one of my favorite countries, and a country that I would say has definitely broken free of the middle-income trap.”
- Publisher
- Conversations with Tyler
“I think that that shift in deposits away from — if there is a shift in deposits away from, let’s say, regional banks or mid-size banks towards very large banks, for example, they’re not going to be particularly good at replacing the regional banks in what they do in terms of lending to the nonfinancial sector all across the country, for example.”
- Publisher
- Conversations with Tyler
“The Human Genome Project is one of our favorites. That was actually turned down by private venture capital in the 1980s because they said, “Yes, you can do this, map out the human genome, but we don’t know how you can monetize it.”
- Publisher
- Conversations with Tyler
“I used Google, I used GPT, and everything I could find tells me the price of soft drinks, in real terms, has been falling”
- Publisher
- Conversations with Tyler