Paradigm Shock – Détails, épisodes et analyse

Introducing the exciting new podcast, Paradigm Shock

Welcome to this special inaugural episode of Paradigm Shock! We are honored to welcome Matthew C Klein. He is the co-author with Michael Pettis of the famous book “Trade Wars are Class Wars” which won the 2021 Lionel Gelber Book Prize. He’s also a former writer for Bloomberg View, the Financial Times, The Economist and Barrons. He currently authors his newsletter The Overshoot.

Matthew is read across the world by central bankers, chief economists, academics, policymakers, and investors. Klein has given background presentations to U.S. Treasury officials, White House economic advisers, national security and intelligence staff, officials at the European Commission, and U.K. Parliament staffers.

Topics discussed in this episode include:

• Their broad thesis on how internal domestic imbalances and conflicts within countries can drive global imbalances and conflicts between countries.
• How do global capital flows interact with global trade flows? Which drives which?
• The great debate between the “Exorbitant Burden” versus “Exorbitant Privilege” regarding the US dollar’s role in global finance and the (somewhat) paradox of being on the receiving end of global saving and capital flows
• Assessing efforts and proposals by the current US administration to address these imbalances.
• Conclusions and ways forward

Matthew’s information below:

Trade Wars are Class Wars https://yalebooks.yale.edu/book/9780300261448/trade-wars-are-class-wars/

The Overshoot: https://theovershoot.co

Linkedin: https://www.linkedin.com/in/matthewcklein/

Speaker Booking: https://www.chartwellspeakers.com/speaker/matthew-klein/

Contact the Paradigm Shock team at ParShock2025@gmail.com

Daniel Peris joins Paradigm Shock host, Anjon Roy, to discuss his unconventional path from history academia to asset management. Peris reveals how historical knowledge can provide unique insights into financial markets, challenging the status quo and outdated methodologies. His book, 'The Ownership Dividend,' forecasts a major paradigm shift regarding dividend investing in the  U.S. Stock Market and beyond. 

Daniel’s Latest book:

The Ownership Dividend: The Coming Paradigm Shift in the U.S. Stock Market

See also his previous book also referenced:

Back to Business: Why Modern Portfolio Theory Fails Investors

Daniel’s Substack: 

https://danielxperis.substack.com/

Select Substack Links:

https://danielxperis.substack.com/p/when-total-return-isnt

https://danielxperis.substack.com/p/philosophy-not-finance

Paradigm Shock Email:

ParShock2025@gmail.com

Paradigm Shock welcomes Jesse Silverman, a fintech lawyer, who walks us through his career, detailing roles from a budding lawyer in Connecticut to serving at state and national regulatory bodies. Jesse shares firsthand experiences as a financial regulator during the 2008 crisis, exposing widespread fraud and systemic issues, to his experience standing up the Consumer Financial Protection Agency's Enforcement Division. He candidly discusses the challenges faced by regulators and those in industry. The conversation also touches on the transformation of financial regulation and innovations like open banking and AI, emphasizing the importance of ongoing vigilance and privacy for consumers in this evolving landscape.

Summary of topics covered: 

• Experience standing up the Consumer Financial Protection Bureau's Enforcement team and some life lessons.
• How actors in various fields such as state government regulators, federal regulators, tech, and finance firms differ in perspectives, incentives, and priorities.
• Thoughts on Open Banking and the revocation of Rule 1033, and its impacts on citizens regarding privacy, user sovereignty, and data rights.
• Final thoughts on AI and consumer finance.

Some of Jesse’s favorite sources:

Fintech Takes: https://fintechtakes.com

Fintech Brainfood: https://www.fintechbrainfood.com

Fintech Business Weekly: https://fintechbusinessweekly.substack.com/

Other items discussed or referenced: 

CFPB Rule 1033 is finalized 

CFPB Kills rule 1033

Open Finance is Hanging by a thread

Boiler Room Movie Trailer

Jesse’s Contact: https://www.linkedin.com/in/jessebsilverman/

Contact Paradigm Shock: 

Parshock2025@gmail.com

Professor Steve Keen joins Paradigm Shock's Anjon Roy to discuss the enduring dominance of neoclassical economics despite its failures, notably the 2008 financial crisis. Keen shares insights from his education in mathematical economics, which sparked his skepticism towards equilibrium models and led him to explore non-equilibrium and endogenous money frameworks, extending the work of the late great Hyman Minsky. The discussion revisits pivotal moments in economic thought, such as the Cambridge capital debates, while questioning why significant paradigm shifts remain elusive. Keen advocates for an interdisciplinary approach to better address the complexities of modern economies, urging listeners to develop innovative, critical perspectives on economic issues.

Dr. Steve Keen’s material and courses: https://book.stevekeenfree.com/

Dr Steve Keen’s contact: https://www.linkedin.com/in/dr-steve-keen-a476a77/

Other Sources Steve Likes:

Entropy Economics: https://www.levyinstitute.org/news_items/entropy-economics-the-living-basis-of-value-and-production/

Ergodicity Economics: https://ergodicityeconomics.com/

Review of Political Economy: https://www.tandfonline.com/journals/crpe20

Contact Paradigm Shock: 

Parshock2025@gmail.com

In this episode of Paradigm Shock, host Anjon Roy engages with Tomaž Fleischman from the Cycles Protocol to explore the profound potential of blockchain technologies in revolutionizing financial systems with multilateral clearing and netting systems. Through an engaging narrative, they delve into netting and obligation clearing, illustrating how these processes can significantly impact both local economies and the global financial landscape. Fleischman, an expert in this field, shares his journey from computer systems engineering to pioneering blockchain projects like the Cycles Protocol. The discussion highlights blockchain’s capacity to enable decentralized peer-to-peer multilateral clearing systems, offering a transformative approach to liquidity savings and systemic risk reduction.

Cycles Protocol Website: https://cycles.money/

Cycles White Paper: https://cycles.money/whitepaper.pdf

2020 LSM Paper: https://doi.org/10.3390/jrfm13120295

Crypto's early interest from Ethan Buchman: https://ebuchman.github.io/posts/local-money-liquidity-saving/

Other Research from Tomaž:

https://www.researchgate.net/publication/387951277_Neutral_Settlement_Layer_for_Interoperability_between_Different_Forms_of_Local_Financial_Expression

ttps://doi.org/10.3390/jrfm14090452

https://www.researchgate.net/publication/349917124_Pub_-_Liquidity-saving_through_Obligation-Clearing_and_Mutual_Creditpdf

In this episode of 'Paradigm Shock,' host Anjon Roy engages with author Stephen Witt to discuss the rise of NVIDIA under the leadership of Co-founder and CEO Jensen Huang. Witt's new book, 'The Thinking Machine,' leverages an amazing level of access to explore how Huang transformed NVIDIA from a struggling gaming company into the dominant player in the semiconductor sector. They delve into the years of struggle and strategic reinvention that led to NVIDIA's groundbreaking advancements in Parallel computing with it's GPU chips, highlighting how these innovations have significantly influenced and enabled the current boom in Artificial Intelligence and reshaped global tech markets, making NVIDIA the most consequential company today.

Stephen's Website: http://stephenwitt.info

Check out his book

In this episode, veteran journalist Steven Ehrlich discusses his unexpected journey into crypto journalism. Originally a DoD contractor, Steven transitioned to the digital asset sphere through various roles at Forbes and Unchained. Throughout his career, he has witnessed the boom and bust cycles of cryptocurrency, reflecting on both its potential and its speculative excesses. In this discussion, he highlights critical phases in the crypto world, such as the ICO craze, DeFi summer, and NFT boom. Steven critically analyzes the speculative nature of these trends while expressing hope for crypto's future practical potential, aiming to balance exuberance with realistic expectations and real world impact.

Key Links:

Bits and Bips Newsletter

Steven's Unchained Page

Steven's Forbes Page

LinkedIn

Twitter

Bits and Bips Podcast

Unchained Podcast

In a captivating episode of Paradigm Shock, host Anjon Roy interviews fintech expert Martin Kleinbard on his recent report about the potential 'Credit Time Bomb' in consumer credit assessments. The discussion centers on the limitations of traditional credit scoring models like FICO in today's AI-driven world, presenting another potential AI Alignment challenge. Martin proposes a shift towards cash flow-based underwriting to better evaluate credit risk, leveraging the capabilities of open banking. This approach could mitigate current threats in consumer lending while aligning credit assessments with modern financial behavior, potentially paving the way for a more inclusive and accurate credit evaluation system.

Show Links:

Report: How Cash Flow Data Can Diffuse the Credit Time Bomb

Martin’s LinkedIn Profile

Alex Johnson’s Fintech Takes Podcast and Newsletter

Credit Worthy by Josh Lauer

Ahmed Siddiqui, the best-selling author of 'Anatomy of the Swipe,' joins Paradigm Shock to unravel the complexities of the payment system. Through his famous book, Siddiqui breaks down the mechanics behind every credit card swipe, explaining the sequence of events occurring within seconds of the transaction. With a visual and story-driven approach, Siddiqui aims to educate both novices and industry insiders on the intricate world of payments, offering insights into his career, and highlighting the areas ripe for fintech innovation including open banking and tokenization. He also announces a new initiative towards the end of this episode. Note: Recorded on Thursday July 10, 2025.

Show Links:

Order Anatomy of the Swipe

Core Graphic from his book

Ahmed's LinkedIn page:

Academy of the Swipe Course: 

Podcast Contact:

Contact Paradigm Shock: ParShock2025@gmail.com