Boom Bust Season 1 Episode 90 John Quiggin On Macro Economics and Visa vs. Wal-Mart

In this episode of Boom Bust, John Quiggin, an economist and professor at the University of Queensland in Australia, joins the show to discuss macroeconomics. He shares his insights and opinions on the current state of the global economy, including the effects of globalization and automation on employment and income inequality.

Quiggin also discusses the role of government intervention in macroeconomics, arguing that it is necessary to address market failures and prevent economic crises. He notes that while free markets can be efficient, they can also lead to inequality and instability, making government regulation and intervention important for a stable and prosperous economy.

In the second part of the show, the hosts explore the ongoing battle between Visa and Walmart over swipe fees. Swipe fees, or the fees charged to retailers for each credit or debit card transaction, have been a source of controversy for years, with retailers arguing that they are too high and cut into their profits. Visa and other card issuers, on the other hand, argue that the fees are necessary to cover the costs of fraud protection and other services.

The hosts examine Walmart's decision to stop accepting Visa cards in certain Canadian stores, and the subsequent back-and-forth between the two companies. They also discuss how this dispute could impact the credit card industry as a whole, and whether consumers could ultimately be the ones to suffer.

Overall, this episode provides a thought-provoking discussion on macroeconomics and the role of government intervention, as well as an insightful look into the ongoing fight between Visa and Walmart.