10-04-2024
Jim Bullard, the Dr. Samuel R. Allen Dean of the Mitch Daniels School of Business, welcomed world-renowned financial economics and macroeconomics expert John Cochrane for the first Dean's Distinguished Lecture on October 1.
Cochrane, who presented on inflation and other topics in the Krannert Auditorium, is the Rose-Marie and Jack Anderson Senior Fellow at Stanford University’s Hoover Institution and writes The Grumpy Economist blog from a free-market point of view. Prior to joining Stanford, he was the AQR Capital Management Distinguished Service Professor of Finance at the University of Chicago Booth School of Business.
He told the Purdue crowd about his persona as a “grumpy economist” — it all started at the breakfast table over a Wall Street Journal op-ed — and about his podcast, “The GoodFellows.”
Looking at 2021-2024 inflation rates, Cochrane asks and then answers: “What happened?”
He discusses past decades, the gold standard, other locations including Germany, the future, including projections about U.S. debt to GDP ratio, and solutions.
“The solution is growth,” Cochrane says. “Inflation doesn’t matter. Growth matters.”
The problem of the American economy, he says, is that our growth rate used to be 4 percent and is now down to 2 percent.
Watch Cochrane's full Daniels School presentation:
