Ones and Tooze (Foreign Policy)

The mutiny in Russia led by Yevgeny Prigozhin this past week raises tough questions about the future of President Vladimir Putin. Adam and Cameron discuss the military and economic implications. Also on the show: The economics of fireworks. Learn more about your ad choices. Visit megaphone.fm/adchoices

The recent attempt on the life of Slovakian Prime Minister Robert Fico raises questions for Adam and Cameron. Do political assassinations mainly occur in advanced economies? Do they tend to bring about change or reinforce the status quo? And what does it cost to hire a hit man? Also on the show: The economics of holiday grilling. Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode Cameron and Adam take a look at the emergence of green hydrogen and its potential for being a major boon to places like Africa and India. Adam also talks about how this green energy source ,which generates a tremendous amount of heat, will help reduce emissions for creating steel and other industrial processes. In the second segment, grab your backpack, Cameron and Adam take a look at European travel on the cheap. They discuss low cost travel options, hosteling, and which European countries offer the most bang for the buck. (Hint...try Albania!) Learn more about your ad choices. Visit megaphone.fm/adchoices

Hosts Cameron Abadi and Adam Tooze talk about Berlin, Cam’s home town, on this week’s episode. They grapple with the recent mayoral election and what it says about the economy there.  Before that, Cam and Adam dig into climate change news. According to the latest report from the Intergovernmental Panel on Climate Change (IPCC), it seems increasingly unlikely the world will be able to limit global warming to 1.5°C. Adam and Cam discuss what countries should be doing with this new information. Learn more about your ad choices. Visit megaphone.fm/adchoices

After a U.S. district court determined that Google was violating antitrust laws with its Chrome browser, Justice Department officials are weighing whether to break up the company. Adam and Cameron discuss what it would mean. Also on the show, Part One in an occasional series on U.S. swing states. This week: Minnesota. Adam and Cameron will be doing two live shows next month—one in Washington, D.C., and the other in New York City. Follow the links below for tickets. Sixth & I in Washington, DC, on Tuesday, September 17. https://www.sixthandi.org/event/foreign-policys-ones-and-tooze-podcast/ The Caveat in New York City on Wednesday, September 25. https://www.caveat.nyc/events/ones-and-tooze-9-25-2024 Learn more about your ad choices. Visit megaphone.fm/adchoices

Are Western sanctions on Russia working? The Russian central bank raised interest rates by a dramatic 3.5 percent in the past week after the ruble dropped sharply—clear signs that the Russian economy is faltering. But in many ways, Moscow has defied expectations. Adam and Cameron explain how. Also on the show: the economics of Niger. Learn more about your ad choices. Visit megaphone.fm/adchoices

In the coming year, a record number of elections will be held around the world, including in Taiwan, India, Britain, the European Union, and the United States. Adam and Cameron look ahead at 2024 and specifically at the potential impact of these elections. Learn more about your ad choices. Visit megaphone.fm/adchoices

Environmentally conscious investing has been a thing for at least two decades now, with many corporations around the world embracing it. But the backlash is now a thing as well, driven largely by anti-woke activists and lawmakers. On the show this week, Adam and Cameron explain the mechanics of ESG—environmental, social and governance investing—and break down the arguments for and against. Also on the show: The economics of divorce. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week, Apple became the first company ever to reach a valuation of $3 trillion. Is the company that Steve Jobs built really worth that much? Adam and Cameron discuss. Learn more about your ad choices. Visit megaphone.fm/adchoices

What is U.S. President Joe Biden's economic philosophy? Post-neoliberal? Or maybe pre-neoliberal? Or something else altogether? Adam and Cameron discuss. Learn more about your ad choices. Visit megaphone.fm/adchoices

Filmmaker Ridley Scott's movie on Napoleon Bonaparte is an ambitious portrayal of a man considered one of the greatest military commanders in history. It's also the worst film Adam has ever seen. On this episode, Adam and Cameron discuss the movie and the man—including his economic policies. Brought to you by: betterhelp.com/onestooze https://www.npr.org/podcasts/510289/planet-money factormeals.com/ones50 Learn more about your ad choices. Visit megaphone.fm/adchoices

More than a million people applied for asylum in Europe last year—helping to stoke an immigration backlash on the continent. Even some centrist governments across Europe are adopting far-right policies on immigration and asylum. Adam and Cameron discuss. Also on the show: The World Bank and global poverty. You can find the link to our membership survey here: https://bit.ly/3NBskqM. We appreciate your input and ideas! Learn more about your ad choices. Visit megaphone.fm/adchoices

As a special bonus this week, U.S. climate envoy John Kerry joins Foreign Policy’s editor in chief Ravi Agrawal on our new show, Foreign Policy Live. Each week, Agrawal sits down with world leaders and policy experts on the issues that matter most to you. Watch these conversations live by going to foreignpolicy.com/live or listen to the podcast every Friday. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 2023 U.S. deficit is expected to be around $2 trillion — about double the size of the 2022 fiscal year. Adam tends to be less concerned with deficits than other economic experts. But how does he feel about it this time? On today’s episode, Adam and Cameron analyze the current deficit. Then, they explore the World Series in baseball. Tickets for the livestream of our Oct 27 event in Berlin are still on sale: https://www.hertie-school.org/en/events/event-detail/event/ones-and-tooze-live-in-berlin Learn more about your ad choices. Visit megaphone.fm/adchoices

On Oct. 7, 3023, Hamas militants attacked southern Israel and killed some 1,200 people. Israel responded with an invasion of Gaza, killing more than 41,000 Palestinians so far, most of them civilians. On this episode, Adam and Cameron consider the economic impact of the war on Gaza, Israel, and other parts of the region. Brought to you by: betterhelp.com/onestooze Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is a recording of a live show Adam and Cameron held at the Prachtwerk in Berlin on May 25, 2023. Topics include the American debt ceiling and Germany's role in the world. Learn more about your ad choices. Visit megaphone.fm/adchoices

The United States’ top leaders are older than ever. Is capitalism inherently gerontocratic? Do older leaders govern better or worse historically? And could a leader’s advanced age sap economic confidence and have a pocketbook effect? Adam and Cameron dig in. Brought to you by: betterhelp.com/onestooze Learn more about your ad choices. Visit megaphone.fm/adchoices

Boeing's stock price has fallen by 14 percent since a hole blew open on one of its 737 Max 9 planes mid flight earlier this month. The plane has had other safety issues over the years. What are the implications for Boeing and its European rival, Airbus? Adam and Cameron dig in. Learn more about your ad choices. Visit megaphone.fm/adchoices

Did international markets overreact to the job data earlier in the week? Or is the United States entering a recession? Also: Adam and Cameron will be doing two live shows next month—one in Washington, D.C., and the other in New York City. Follow the links below for tickets. Sixth & I in Washington, DC, Tuesday, September 17. https://www.sixthandi.org/event/foreign-policys-ones-and-tooze-podcast/ The Caveat in New York City on Wednesday, September 25. https://www.caveat.nyc/events/ones-and-tooze-9-25-2024 Learn more about your ad choices. Visit megaphone.fm/adchoices

As China prepares a raft of stimulus measures to reboot the country’s domestic economy, Adam and Cameron discuss whether or not the measures will be effective. Also on the show: Adam and Cameron continue their tradition of discussing the annual Nobel Memorial Prize in Economic Sciences. The 2024 prize went to Daron Acemoglu, Simon Johnson, and James A. Robinson, whose work helped highlight differences in prosperity between nations. To learn more about their work, check out this paper by the three winners on the causes of long-run growth: https://www.nber.org/papers/w10481 Learn more about your ad choices. Visit megaphone.fm/adchoices

Turkish President Recep Tayyip Erdoğan's unorthodox monetary policies have caused surging inflation and a currency crisis. And, yet, most voters don't seem to mind. Adam and Cameron analyze Turkey's economy and politics in this episode. Also on the show: Why is olive oil suddenly so expensive? Learn more about your ad choices. Visit megaphone.fm/adchoices

In this first episode of 2025—and the first one recorded since Adam’s heart surgery—Cameron and Adam discuss a conceptual ecological framework called the Planetary. Learn more about your ad choices. Visit megaphone.fm/adchoices

To mark the Easter holiday, Adam and Cameron discuss the economic thinking of Pope Francis and how it strays from the traditional approach of the Catholic Church. Brought to you by: betterhelp.com/onestooze crashplan.com/ones Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam and Cameron taped this episode in front of a live audience at the Caveat Theater in New York City. They talk about the life and ideas of economist John Maynard Keynes. Learn more about your ad choices. Visit megaphone.fm/adchoices

With students at Columbia and other universities across the country demanding that their schools divest from Israel over the war in Gaza, Adam and Cameron discuss the economic angle: endowments, investments, and billionaire donors. Brought to you by: betterhelp.com/onestooze Learn more about your ad choices. Visit megaphone.fm/adchoices

The new film Civil War, which follows a group of journalists making their way across a swath of fractured and war-torn America, is a box-office hit. It’s also an opportunity for Adam and Cameron to speculate on the economic implications of a real civil war in the United States. For more podcasts, check out the latest episode of Disorder, 'How Small States Can Save the World,' featuring Former President of Armenia Dr Armen Sarkissian: https://linktr.ee/disorderpod Learn more about your ad choices. Visit megaphone.fm/adchoices

Hosts Cameron Abadi and Adam Tooze take to the stage in front of a live audience at the Sixth and I Historic Synagogue in Washington, D.C., for a wide-ranging discussion. Their conversation touches on topics as varied as Adam’s quest for U.S. citizenship, former European Central Bank President Mario Draghi’s dire report on the state of Europe’s economy, and what to make of some of the swing states in the upcoming U.S. presidential election. Learn more about your ad choices. Visit megaphone.fm/adchoices

For decades, billionaire Elon Musk has only had the kind of power that comes with great wealth. Now he has political power, as well. What is he after? And what does he truly believe? Adam and Cameron spend the episode talking about Musk and his role in the Trump administration. Brought to you by: betterhelp.com/onestooze Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam and Cameron discuss how President-elect Donald Trump’s second term will affect U.S. policy around the world. In order to keep Ones and Tooze going, we’re planning to start a membership program. This is a chance for listeners to tell us what kind of extra content they’d want to hear. Interviews? Listener questions? A Ones and Tooze book club? Please click on the link below and fill out the survey. https://bit.ly/3NBskqM Learn more about your ad choices. Visit megaphone.fm/adchoices

Member states at the U.N.-led conference on climate change in Dubai have agreed to "transition away" from fossil fuels. Was it an unprecedented deal or a vague agreement that amounts to very little? Adam and Cameron dig in. Also on the show: Germany's 17 billion euro budget crisis. Learn more about your ad choices. Visit megaphone.fm/adchoices

The attacks by Houthi militants on cargo ships in and around the Red Sea is posing a serious threat to global trade—serious enough to prompt American-led air strikes on the group in Yemen. Thirty percent of all global containers pass through the Red Sea Strait. Adam and Cameron discuss the economic implications. Learn more about your ad choices. Visit megaphone.fm/adchoices

Every day, experts from around the globe present their arguments for solving the world’s biggest problems. And every day, these experts disagree in small and large ways. At Foreign Policy, our approach is to share a wide range of opinions, side by side, day by day. But what if people could hear those arguments tested, in real time, under pressure from an opposing view–by an international cast of diplomats, journalists, academics and activists? That’s the idea behind Counterpoint, a new debate show from Foreign Policy, in partnership with the Doha Forum—hosted by FP deputy editor Sasha Polakow-Suransky. On this episode, Sasha explores the question: Should the West Pressure Ukraine to Negotiate an End to the War? He’s joined by Emma Ashford, a senior fellow at the Stimson Center and an assistant professor at Georgetown University, and Rajan Menon, the director of the grand strategy program at Defense Priorities and a senior research scholar at Columbia University. Learn more about your ad choices. Visit megaphone.fm/adchoices

Prabowo Subianto is on track to win the presidential election in Indonesia, raising concerns about a backslide towards authoritarianism in the world's third largest democracy. Adam and Cameron discuss the political and economic implications. Learn more about your ad choices. Visit megaphone.fm/adchoices

Russia’s economy is growing at a healthy clip despite international sanctions that the country has endured for more than two years. How did that happen? And why did Russian President Vladimir Putin just appoint an economist—Andrei Belousov—as his new defense minister? Cameron and Adam dig in. Learn more about your ad choices. Visit megaphone.fm/adchoices

The old debate over equity in Hollywood has become much more complicated thanks to streaming services and artificial intelligence. Adam and Cameron break it down. Learn more about your ad choices. Visit megaphone.fm/adchoices

The wildfires in Los Angeles this month have already caused some $275 billion in damage—an unprecedented catastrophe by any measure. Adam and Cameron discuss the economic implications and the impact of climate change not just there but elsewhere. Also on the show: The economics of Greenland. Learn more about your ad choices. Visit megaphone.fm/adchoices

China is facing a crisis in its real estate market that threatens to impact its economy overall. Adam and Cameron explore the broader issues in China accounting for the slowdown. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week on the show, Adam and Cameron discuss the economy of South Africa, which has come a long way since the end of apartheid in 1990. South Africa is now number 36 on the list of countries ranked according to GDP. But deep economic inequalities persist, as a legacy of the apartheid era. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode, Cameron and Adam discuss the Nike Air juggernaut: how Michael Jordan's basketball shoes became a multi-billion dollar enterprise. Also on the show, how austerity measures in Greece contributed a deadly train crash there earlier this year. And a quick note to our listeners in Berlin... Adam and Cameron will be taping a live episode of Ones and Tooze on May 25 at Prachtwerk Berlin. Click on the link below for tickets. Their last show in New York City sold out quickly, so don’t wait! https://www.podfestberlin.com/event-details/ones-and-tooze-live Learn more about your ad choices. Visit megaphone.fm/adchoices

This is the third and final episode in a miniseries on heterodox economists—people who embrace completely different approaches to economics than those of the standard thinkers. Adam and Cameron discuss Hyman Minsky, an American economist who wrote widely on financial crises but whose work received broad attention only around the collapse of 2008—more than a decade after his death. Learn more about your ad choices. Visit megaphone.fm/adchoices

With a 20 percent hike in the cost of food, Democratic presidential candidate Kamala Harris is vowing to crack down on price-gouging. But is that what grocery chains are doing? Adam and Cameron discuss. Also on the show, how the political tumult in Bangladesh will affect the country's economy. ------ Adam and Cameron will be doing two live shows next month—one in Washington, D.C., and the other in New York City. Follow the links below for tickets. Sixth & I in Washington, DC, on Tuesday, September 17. https://www.sixthandi.org/event/foreign-policys-ones-and-tooze-podcast/ The Caveat in New York City on Wednesday, September 25. https://www.caveat.nyc/events/ones-and-tooze-9-25-2024 Learn more about your ad choices. Visit megaphone.fm/adchoices

Poland has had an incredible economic rise since the collapse of communism, even as its government has become increasingly illiberal. Are the two things connected? Or contradictory? Adam and Cameron dig in. Also on the episode: The economics of marriage. Learn more about your ad choices. Visit megaphone.fm/adchoices

In today’s episode, hosts Adam Tooze and Cameron Abadi discuss climate policy and how it’s playing out on both sides of the Atlantic. In the first half of the show, they look into the effectiveness of the Inflation Reduction Act, which passed in the United States in 2022, and how it’s faring two years later. Then they direct their focus on efforts to reduce carbon emissions in Germany and see what has been effective and where there are stumbling blocks. --- Adam and Cameron’s live taping next month in New York is sold out. But there are still tickets available for the live show in Washington, D.C. Follow the link below for tickets. Sixth & I in Washington, DC, on Tuesday, September 17. https://www.sixthandi.org/event/foreign-policys-ones-and-tooze-podcast/ --- Cameron’s book Climate Radicals is on sale Sept. 10 and and available for pre-order now: https://amzn.to/3ASyK1v *FP earns an affiliate commission on anything purchased through links to Amazon.com on this page. Brought to you by: betterhelp.com/onestooze Learn more about your ad choices. Visit megaphone.fm/adchoices

A special bonus this week, we share an episode from Heat of The Moment, a podcast from FP and the Climate Investment Funds which offers a hopeful perspective on the climate crisis. The latest season focuses on a "just transition," the idea that as we shift to climate-smarter energy, food systems, infrastructure, and more, we bring everyone along. Also that the communities and industries who historically made their living from fossil fuels or unsustainable practices, for example, aren't left behind. And that those most vulnerable to the effects of this transition are heard and also reap the benefits of this new economy. Follow the series here on Apple or wherever you get your podcasts. Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode features a live taping Adam and Cameron did at the John Hopkins School of Advanced International Studies in Washington, DC—covering the possible impact of a wider war in the Middle East and the economics of a future Biden or Trump administration. For more podcasts, check out the latest episode of Disorder, 'How Small States Can Save the World,' featuring Former President of Armenia Dr Armen Sarkissian: https://linktr.ee/disorderpod Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam and Cameron discuss the common pencil—both a must-have back-to-school item and a metaphor for the free-market economy. Also on the show: The economics of Mongolia. Learn more about your ad choices. Visit megaphone.fm/adchoices

The strike of United Auto Workers raises thorny questions not just about labor in the United States—but also about the fight against climate change. Adam and Cameron dig in. Brought to you by: betterhelp.com/onestooze Learn more about your ad choices. Visit megaphone.fm/adchoices

How successful is the American singer-songwriter Beyoncé? When she performed in Sweden last year, the event caused an uptick in the country’s inflation. Adam and Cameron explain. Also on the show: The economics of Immanuel Kant. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode, Adam and Cam look at the devastating impact Russia's war on Ukraine has had on Ukraine's infrastructure - in particular the destruction of the Kakhovka dam. In the second segment, the two reflect back on the life of former Italian Prime Minister Silvio Berlusconi and try to parse out how much his personal scandals impacted the national economy.  Learn more about your ad choices. Visit megaphone.fm/adchoices

This is the first episode in a miniseries on heterodox economists—people who embrace completely different approaches to economics than the standard thinkers. Adam and Cameron begin with Michal Kalecki, a Polish economist born in the late 19th century who believed that capitalism was not the solution to the human condition but the problem itself. Listen until the end to hear Adam’s message from the ICU after his open-heart surgery. Brought to you by: betterhelp.com/onestooze acorns.com/ones Learn more about your ad choices. Visit megaphone.fm/adchoices

Billionaire George Soros has been funding democracy promotion around the world for decades, through his Open Society Foundations. For his efforts, he has become a bogeyman for the far right. But what economic philosophies drive Soros’s charity work? And how do they align with the business strategies that made him so fabulously wealthy? Adam and Cameron dig in. Learn more about your ad choices. Visit megaphone.fm/adchoices

What does China’s life expectancy say about the current moment? How does the jump in U.S. interest rates back in 1994 help us understand inflation risks today? These are some of the data points that Foreign Policy columnist and acclaimed author Adam Tooze will unpack each week on Ones and Tooze, FP's new economics podcast. Join Tooze along with FP deputy editor Cameron Abadi as they connect the dots for listeners and explain how the world works. Check out Tooze’s column at https://foreignpolicy.com/author/adam-tooze/ Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this first episode of Ones and Tooze, Cameron Abadi and Adam Tooze discuss two stratospheric numbers: 28.5 trillion and 3.3 billion. One refers in dollars to the U.S. debt ceiling and the other corresponds to the number of people furloughed around the world during the pandemic. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of Ones and Tooze, Cameron Abadi and Adam Tooze discuss the Chinese company Evergrande and its $300 billion debt—that has prompted panic in U.S. markets and raised fears of economic contagion. Also: Why other wealthy countries have bullet trains while the United States has... Amtrak. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of Ones and Tooze, Cameron Abadi and Adam Tooze discuss the results of the German election and the economic policies of the winner, Olaf Scholz, of the Social Democratic Party. Also: Why is Greece, a country with huge debt and a terrible financial record, able to borrow money virtually for free? Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of Ones and Tooze, Cameron Abadi and Adam Tooze discuss the scandal swirling around Kristalina Georgieva, who runs the International Monetary Fund. Also, what the steep rise in China’s life expectancy says about China—and about the United States.  Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week Cameron Abadi and Adam Tooze discuss the economists who won the Nobel Prize—for helping make the science of economics…more scientific. Also: Whatever happened to cap and trade? The strategy for stemming climate change is largely dead in the United States but surging in Europe. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

Inflation is rising quickly. Cameron Abadi and Adam Tooze discuss the who, the why and the whattheheck? Also, why are Germans are eating so much Italian pasta and what does it tell us about the European economy? Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode, why Adam Tooze is optimistic ahead of the climate summit in Glasgow and how COP26 really works. Also: The food crisis around the world that could become a humanitarian crisis and even a political one. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode, Adam Tooze and Cameron Abadi discuss the moves and countermoves of the bond market and the Federal Reserve Chairman in response to inflation. Also: A new alliance of banks and investment funds is committing $130 trillion to carbon neutral projects in the next 30 years. Green altruism or green washing? Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

President Biden's infrastructure bill allocates $15 billion to making electric cars more popular in the United States. Cameron and Adam discuss how that money will be spent and why the United States is still way behind China when it comes to infrastructure for electric cars. Also on this episode: Why COVID has been terrible for the American healthcare economy. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

10.4 million—that’s the number of jobs that are currently unfilled in the U.S. economy as of September, according to the latest data from the Bureau of Labor Statistics. That’s not much different than the record high of 10.9 million openings that were recorded back in July. As vaccinations have increased, and the economy has continued to open up, employers have been finding it incredibly difficult to find workers to fill jobs.   Economists are calling it The Great Resignation—this phenomenon of people exiting the labor force in droves, and employers struggling to fill their openings. Adam and Cameron examine The Great Resignation and what it may portend for the economy. And then in 2nd segment the two discuss the billions of dollars Americans spend each year in the growing market for pet food. Is this consumerism run amok or does the connection between humans and pets tell a different story about the value of animal companionship?   Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

U.S.-led sanctions have devastated Iran's economy over the past decade but have failed to curb the country's nuclear program. On this episode, Adam and Cameron discuss why sanctions sometimes work—and often don't. Also on the show: The travel and tourism industries accounted for a whopping 10.4 percent of GDP worldwide. Then COVID-19 came along. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

With President Joe Biden's Democracy Summit underway, Adam and Cameron discuss whether democratic principles help or hinder economies. The answer is more complicated than you might think. Also, if you have an old Ford Escort or other classic car, hang onto it. You might get rich. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

Congress has approved a $768 billion defense budget for 2022. If the Pentagon were a private company, would it be bigger than Amazon? Walmart? Also, can $859 billion buy you love? Or at least domestic goodwill? That's the amount of money Americans will spend on themselves and their loved ones ahead of the Christmas holiday. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

When we first aired this episode of Ones and Tooze on why prices are rising, analysts were warning of a possible inflation crisis. Now, two months later, the crisis is here, with inflation at a four-decade high. Listen to hosts Cameron Abadi and Adam Tooze discuss how inflation works and what it means for ordinary people around the world.  Also on the show: what Germany’s increasing demand for Italian pasta says about the European Union economy.  This is our last episode of 2021, so happy new year! We’ll be back in January. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

After watching the Beatles: Get Back sessions, Cameron Abadi was inspired to dive deeper into the economics of the Beatles versus the Rolling Stones with Adam Tooze. So, rock lovers rejoice, that’s what you’ll get in the second half of Ones and Tooze this week.  But first, Tooze and Abadi dig into the heated online debate over price controls. For those not following, the internet somewhat broke over a Guardian op-ed arguing that price controls could fight inflation. Tooze tempers the hysteria and looks at the historic data. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

Talks with Russia to resolve the Ukraine crisis hit a dead end this week. As Foreign Policy reports, top Biden administration officials have reiterated the possibility of economic actions against Russia if it invades Ukraine. ​​On Ones and Tooze this week, Cameron Abadi and Adam Tooze explain how potential U.S. sanctions against Russia would work, and analyze the state of Russia’s economy in general.  Later in the show, our hosts delve into the first of a four-part series on what they’re calling “life cycle” economics – basically, the macroeconomic implications of the biggest stages of our lives. They start with conception, or the cost of creating life. More specifically, they look at why the demand for egg freezing has soared during the pandemic. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

It's been lampooned as a gathering of "the rich and the clueless." U2 lead singer Bono referred to its attendees as "fat cats in the snow." So what makes the World Economic Forum's annual conference in Davos so closely watched? Co-host Adam Tooze has been there twice and would have traveled to Switzerland again this year had the confab not been relegated to online-only status thanks to Omicron. Instead, he talks to Cameron Abadi about what really happens in Davos and how the super rich differentiate themselves from the run-of-the-mill aristocrats there. Also on the show: Part two of our lifecycle series, this one focusing on education. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

If Prime Minister Boris Johnson loses his job over the the scandals now engulfing the British government, his political obituary will focus on just three things: Brexit, COVID, and Partygate. On this week's episode, Adam and Cameron discuss the sordid legacy of a man who seemed almost invincible just two years ago, and analyze the economic impact of Johnson's policies. Also on the show, part three of the lifecycle series: The Tawdry Arithmetic of the Midlife Crisis. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

The cryptocurrency market has lost some $1.1 trillion in value over recent months. On this episode, Adam and Cameron discuss what accounts for the tumble and what function crypto serves beyond its appeal to financial speculators. Also on the show, the last of our lifecycle segments focuses on inheritance and, more specifically, on where the vast fortunes accumulated by the Baby Boomer generation will go when its members die off. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. economy grew close to 6% in 2021, the strongest year in nearly four decades. On this episode of Ones and Tooze, Adam Tooze and Cameron Abadi analyze how we have bounced back from the pandemic recession, and what ways the economy is still falling short. Spoiler: It’s more than inflation.  Also on this show, a Valentine’s Day special: Tooze and Abadi look into why perfume is booming and how the scent industry actually works. Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam and Cameron take a closer look at the economics of the Canadian trucker protest to see how much damage one blockade can inflict on the entire Canadian economy and why a singular bridge has such outsized importance for trade between the US and Canada. In the second segment, a look at the Winter Olympics from an economic standpoint; how beneficial are they for the host country, the IOC, and individual athletes? And how much is an Olympic gold medal actually worth? Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode, Cameron and Adam discuss the sanctions President Biden has imposed on Moscow over its invasion of Ukraine and the gaping hole that allows Russia to continue exporting oil and gas. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode, Adam and Cameron discuss the sanctions Europe and the United States have imposed on Russia's economy in response to its invasion of Ukraine. The penalties are unprecedented in scope but will they bring an early end to the war? Learn more about your ad choices. Visit megaphone.fm/adchoices

As the war in Ukraine entered its third week, the price of a barrel of oil peaked at $130, its highest since 2008. The pain is already spreading around the world—to people who rely on gas to get to work or oil to heat their homes. On the show this week, Adam and Cameron discuss the possible longterm effects of the spike, including the impact on inflation and climate change. Also on the show: Don't bet against New Yorkers. In the first month since gambling became legal in the state, residents put down a record $2 billion in wagers.The real winners are the tax authorities. Learn more about your ad choices. Visit megaphone.fm/adchoices

U.S. President Donald Trump has announced a new aspect of his administration’s immigration policy: a path to citizenship for “high-level” people who can bypass the usual process by paying $5 million. Trump said the program will raise revenue for the government—but it might primarily attract Russian and Chinese oligarchs to the United States. Also on the show, Cameron and Adam discuss brutalism, an architectural style that emerged in the 1950s and is now the subject of an Oscar-nominated film. Brought to you by: betterhelp.com/onestooze Learn more about your ad choices. Visit megaphone.fm/adchoices

More than 50 million people are living under lockdown restrictions in China amid a dramatic surge of COVID cases. Adam and Cameron discuss the potential economic impact for countries around the world. Also, just in time for spring, a segment on the global flower industry, worth some $8.5 billion. Learn more about your ad choices. Visit megaphone.fm/adchoices

More than 100,000 people currently want to evacuate the besieged city of Mariupol in Ukraine. On this episode of Ones and Tooze, Adam Tooze and Cameron Abadi look at the significance of this port city to Ukraine and Russia’s military campaign.  Also on the show, Tooze and Abadi commemorate the Godfather’s 50th anniversary. Learn more about your ad choices. Visit megaphone.fm/adchoices

The first round of the French presidential election is coming up on April 10. On the latest episode of Ones and Tooze, Adam and Cameron analyze what French President Emmanuel Macron’s views really are – and what it says about how France has changed.  Also, there’s an April Fools’ Day special: a segment on the economics of humor. Learn more about your ad choices. Visit megaphone.fm/adchoices

Western sanctions on Russia after its invasion of Ukraine quickly led the Ruble to lose more than 45 percent of its value. But these days, the Russian currency is back to its pre-war value. Cameron and Adam explain the turnaround and discuss what it means for the war. Also on the show: The economics of canned fish. Learn more about your ad choices. Visit megaphone.fm/adchoices

On paper, at least, the American tax code is one of the most progressive in the world. In reality, it's deeply unfair and inefficient. On this episode, Adam and Cameron discuss how it got this way and how it compares to the systems of other countries. Also, to mark Easter Sunday, Cameron and Adam discuss the financial state of the Catholic Church. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode Cameron and Adam discuss how inflation is having an impact on wide swaths of the US economy and what tools are available to curb the rise. Adam also looks back at past inflation crisis to help decipher what course may be most prudent this time around. In the 2nd segment, the two discuss the critical state of Sri Lanka's economy which has suspended payments of its 51 billion dollars of foreign debt. Adam says Sri Lanka's crisis may be a harbinger for other developing economy which are still reeling from the impact of the Covid-19 crisis. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Cameron and Adam look ahead to the upcoming May Day celebration and discuss the roots of this holiday as well as the current state of the labor movement. In the second segment, they talk about the economic impact of the massive outpouring of refugees from Ukraine both for Ukraine and for the host countries receiving Ukrainians. Learn more about your ad choices. Visit megaphone.fm/adchoices

This wonderful, nearly ten minute tangent did not quite make its way into our latest episode. But we thought many of you would appreciate Cameron and Adam's Berliner discussion. So here's that whole segment as a bonus May Day special. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. stock market has dropped more in recent days than any other period since March 2020, the beginning of the pandemic. Adam and Cameron analyze why this is happening, beyond obvious reasons like the Fed interest rate increasing, and how much we should worry about it. Later in the show, they look at the economics behind the arms race in the war in Ukraine.  Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. unemployment rate is 3.6 percent, the lowest it’s been since the pandemic began in March 2020. So why aren’t we celebrating that? Adam and Cam dig into the other things bumming people out about the economy, as well as how low unemployment and inflation impact each other. In this first segment, Adam and Cam also answer the show’s first-ever listener audio question! After that, they look at Africa’s population boom and the economic questions that come along with it. Learn more about your ad choices. Visit megaphone.fm/adchoices

With the collapse of stablecoin and the blow to cryptocurrencies like Bitcoin hosts Adam Tooze and Cameron Abadi take another look at crypto markets and parse out what's behind their instability. Plus, a look at the link between air conditioning and productivity and why climate change is making cooling technology increasingly vital. Learn more about your ad choices. Visit megaphone.fm/adchoices

It was hard not to think about the mass shooting at Robb Elementary School in Uvalde, Texas. In this week’s show, Cam and Adam look at where funding for school safety actually goes and what emerging research tells us about the long-term impact of school shootings on children’s futures. Later in the show, with Adam in Davos, Switzerland for the World Economic Forum, Adam and Cam consider what makes the Swiss economy special. Learn more about your ad choices. Visit megaphone.fm/adchoices

With the U.S. Supreme Court apparently poised to overturn abortion rights, Adam and Cameron discuss the potential economic impact on women. Later on the show, they look at the economic indicators that characterized the 1970s—inflation, high energy prices, and slower growth—and discuss whether our national feeling of déjà vu is warranted. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Cameron and Adam dive deep into the economics of bunkers. Mostly seen as relics of the Cold War, they now are gaining renewed interest with the conflict in Ukraine. Then, the two discuss the Faroe Islands, a self-governing archipelago in the North Atlantic ocean. Despite its tiny size and dreary climate, it has managed to thrive economically with a robust fishing industry. Learn more about your ad choices. Visit megaphone.fm/adchoices

It has been a rocky week for the U.S. economy, with record high inflation reports and the Federal Reserve increasing benchmark interest rates by three-quarters of a percentage point. This is the steepest hike in close to thirty years. In this episode, Adam and Cam make sense of this spike and ponder what the Biden administration should do to curb inflation – if anything.  Later on, they set their eyes on Colombia, which has a presidential election on Sunday. For the first time in Colombia, there's a high likelihood they may elect a left-wing president. Adam and Cam analyze why right-wing economics have been such a large part of Colombian history and what presidential candidate Gustavo Petro’s proposed policies could do for the country. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode, Adam and Cameron explain why flight disruptions and cancellations are the new normal. They also discuss the economics of summer vacation. Learn more about your ad choices. Visit megaphone.fm/adchoices

NATO is enlarging its rapid response force from 40,000 to 300,000, in light of Russia's invasion of Ukraine—a huge expansion. But who will foot the bill and how will the force operate in practice? Adam and Cameron discuss these and other questions in the first segment of the episode. Then, to mark the July 4th holiday, they dive into the history and economics of...hot dogs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam and Cameron look at dropping prices for crude oil and forecast what that might mean for the global economy. And they take a broader look at energy consumption and what can be done to curb it in times of crisis. In the second segment the two take a deep dive into playgrounds and the history of how they've been valued. Learn more about your ad choices. Visit megaphone.fm/adchoices

As U.S. President Joe Biden visits Saudi Arabia, where he hopes to get more oil, Adam Tooze and Cameron Abadi look at the broader state of the Saudi economy. Then, Adam and Cam answer a first batch of listener-recorded questions. Expect a lot more soon. Learn more about your ad choices. Visit megaphone.fm/adchoices

With the latest political turmoil in Italy, Adam and Cameron consider a bewildering data point: The country has had 67 governments in the past 75 years. Why are Italian politics so chronically unstable and what does the economy have to do with it? Later in the show: The economics of food insecurity. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode, Adam and Cameron discuss stagflation—possibly the most ominous portmanteau in the English language. It's the double whammy of inflation combined with zero or negative economic growth. How can the two coexist? And what does stagflation mean for the world economy? Later on the show, they talk about dinosaur bones and the economics of Jurassic Park—if it could actually exist. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode Cameron and Adam discuss how the US dollar has reached near parity with the Euro and is the strongest it's been in nearly two decades. The two review what that means for exports and imports and what it says about the overall strength of the US economy. Plus a look at how some Americans are finding it cheaper to buy homes in Europe rather than the US and what that says about the housing markets at home and abroad. Learn more about your ad choices. Visit megaphone.fm/adchoices

On the show this week: The Inflation Reduction Act isn't the climate change revolution that some Democrats had hoped for. But it could signal a shift in the power balance between the fossil fuel industry and the renewable energy industry. Also: How much will it cost to rebuild Ukraine when the war finally ends and who will foot the bill? Learn more about your ad choices. Visit megaphone.fm/adchoices