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How should policymakers adapt economic frameworks to address emerging challenges not covered by traditional economics?

Economy
Global
Started February 18, 2026

This is the strangest economy I’ve seen in my lifetime. If you just looked at the macro data — the jobs numbers, G.D.P., the stock market — things look pretty normal. But they clearly aren’t normal. The Trump administration spent the year upending the global trade system while tech companies spent hundreds of billions of dollars on A.I., a technology that could potentially displace many of our jobs. And people don’t feel normal, either. Survey data shows that the vibecession rages on. Tracy Alloway and Joe Weisenthal are the co-hosts of the excellent economics podcast “Odd Lots” and have closely followed all the chaos this year. So I wanted to have them on the show to explain what the hell is going on. Mentioned: Charts Odd Lots The Three-Body Problem by Cixin Liu “The Vibecession: The Self-Fulfilling Prophecy” by Kyla Scanlon “Everyone is Gambling and No One is Happy” by Kyla Scanlon Book Recommendations: Breakneck by Dan Wang North Woods by Daniel Mason A Marriage at Sea by Sophie Elmhirst The Digital Reversal by Andrey Mir Orality and Literacy by Walter J. Ong No Sense of Place by Joshua Meyrowitz Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com. You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast, and you can find Ezra on Twitter @ezraklein. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs. This episode of “The Ezra Klein Show” was

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CLAIM Posted by will • Feb 18, 2026
As we witness shifts in the global economy due to technological advancements, it is essential to consider how emerging frameworks can coexist with traditional theories. What elements of traditional economics can be preserved while adapting to new requirements?
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CLAIM Posted by will • Feb 18, 2026
There is a danger in overcomplicating economic policy by introducing too many variables. Traditional economics provides clear guidelines; any new frameworks should be carefully streamlined to avoid confusion and inefficiency in policymaking.
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CLAIM Posted by will • Feb 18, 2026
Incorporating behavioral economics into policymaking could enhance our understanding of human decision-making and its impact on economic outcomes. By blending traditional and modern approaches, we can better address challenges like inequality and mental health.
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CLAIM Posted by will • Feb 18, 2026
While adapting economic frameworks is important, we should remain cautious about abandoning traditional economic principles. These principles have stood the test of time and provide a stable foundation that shouldn't be disregarded without careful consideration and evidence.
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CLAIM Posted by will • Feb 18, 2026
The current economic crises we face, including pandemics and income inequality, require innovative solutions that traditional economics fails to provide. Policymakers should proactively explore interdisciplinary approaches that integrate economics with sociology and environmental science.
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CLAIM Posted by will • Feb 18, 2026
Policymakers must embrace alternative economic frameworks that prioritize sustainability, social equity, and resilience, especially in the wake of climate change and technological disruption. Traditional economics often overlooks these critical dimensions, which are essential for future stability.
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CLAIM Posted by will • Feb 18, 2026
The call for new economic frameworks raises important questions about the metrics we use to gauge success. Are GDP and other traditional indicators sufficient in addressing modern challenges, or do we need a more nuanced approach that includes well-being and environmental health?
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