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/sub...
Feb 11, 2022•35 min•Season 1Ep. 20
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/subsc...
Feb 04, 2022•36 min•Season 1Ep. 19
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....
Jan 28, 2022•38 min
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 different...
Jan 21, 2022•32 min•Season 1Ep. 17
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 ...
Jan 14, 2022•35 min•Season 1Ep. 16
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...
Jan 07, 2022•37 min•Season 1Ep. 15
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...
Dec 24, 2021•26 min•Season 1Ep. 14
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 megapho...
Dec 17, 2021•31 min•Season 1Ep. 13
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
Dec 10, 2021•33 min•Season 1Ep. 12
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 ...
Dec 03, 2021•35 min•Season 1Ep. 11
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 pe...
Nov 19, 2021•36 min•Season 1Ep. 10
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...
Nov 12, 2021•34 min•Season 1Ep. 9
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/...
Nov 05, 2021•32 min•Season 1Ep. 8
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
Oct 29, 2021•33 min•Season 1Ep. 7
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
Oct 21, 2021•25 min•Season 1Ep. 6
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
Oct 15, 2021•31 min•Season 1Ep. 5
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
Oct 08, 2021•27 min•Season 1Ep. 4
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/adchoic...
Oct 01, 2021•27 min•Season 1Ep. 3
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
Sep 24, 2021•34 min•Season 1Ep. 2
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
Sep 17, 2021•27 min•Season 1Ep. 1
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....
Sep 02, 2021•2 min
