Bryan Cutsinger on the What the History of Growth Driven Deflation Can Teach us about a Potential AI Boom

布莱恩·卡茨辛格谈增长驱动型通缩的历史能给我们关于潜在人工智能繁荣的哪些启示

Macro Musings with David Beckworth

2025-11-03

56 分钟
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单集简介 ...

Bryan Cutsinger is a monetary historian and an assistant professor of economics at Florida Atlantic University. Bryan returns to the show to discuss how we think about deflation, the history of growth driven deflation, the connection between the postbellum period and today, the potential of rapid productivity growth from AI, and much more. Check out the transcript for this week's episode, now with links. Recorded on September 23rd, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow Bryan on X: @BryanPCutsinger Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps 00:00:00 - Intro 00:04:41 - Rethinking Deflation 00:35:48 - Rapid Productivity Growth from AI 00:46:35 - Tolerating Deflation 00:55:28 - Outro
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  • Welcome to Macro Musings,

  • where each week we pull back the curtain and take a closer look at the most important macroeconomic issues of the past,

  • present, and future.

  • I am your host, David Beckworth,

  • a senior research fellow with the Mercatus Center at George Mason University,

  • and I'm glad you decided to join us.

  • Our guest today is Brian Kutsinger.

  • Brian is a monetary historian and economist from Florida Atlantic University.

  • He's also a returning guest to the show.

  • Brian joins us today to discuss his latest work on growth-driven deflation in the late 19th century and its implications for policymakers today

  • as we head into a potentially growth-driven environment created by AI.

  • Brian, welcome back to the program.

  • David, so good to be with you.

  • So it's a real treat to get you back on the program.

  • I really encourage listeners to go back and check out the previous two programs with Brian.

  • The first one,

  • he joined me and talked about a paper where he looked at the public financing of the US Civil War,

  • specifically the Confederacy.

  • And ironically,

  • they actually did not maximize the senior rich flows they could have from their money printing,