Thiel Talks The U.S. Economy with Peter Thiel
12 snips
May 8, 2021 
Peter Thiel, co-founder of PayPal and Palantir, shares insightful analysis on the American economy's trajectory. He discusses the slow growth predictions since 2008 and the constraints on political actions affecting competitiveness. Thiel critiques government interventions during financial crises and emphasizes the widening income disparities. He highlights the economic rivalry between the U.S. and China, questioning if innovation can offset stagnation. The conversation also underlines the necessity for educational reform to prepare workers for future challenges.
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Wealth Growth Masked by Asset Bubbles
- American wealth grew substantially from 1980 to 2007, but much of it came from asset bubbles.
- Adjusted for recent stock and housing losses and population growth, per capita wealth gains have been modest.
US-Europe Work Hours Contrast
- Europeans work fewer hours and get more vacation than Americans.
- Americans work more partly due to tax incentives, but many prefer to work less if they could.
Flat Hourly Wages and Work Necessity
- Americans work more because their after-tax wages are higher, but hourly wages for men have been flat since the 1970s.
- Increasing participation of women in workforce partly driven by economic necessity, not just choice.
