Ones and Tooze
144 episodes - English - Latest episode: 1 day ago - ★★★★★ - 219 ratingsForeign Policy economics columnist Adam Tooze, a history professor and a popular author, is encyclopedic about basically everything: from the COVID shutdown, to climate change, to pasta sauce. On our new podcast, Tooze and FP deputy editor Cameron Abadi will look at two data points each week that explain the world: one drawn from the week’s headlines and the other from just about anywhere else Tooze takes us. Check out Adam Tooze’s column at https://foreignpolicy.com/author/adam-tooze/.
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Episodes
What NATO Expansion Means for Europe and the World
July 01, 2022 10:00 - 35 minutesNATO 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.
How Flying Got to be so Miserable
June 24, 2022 10:00 - 32 minutesOn this episode, Adam and Cameron explain why flight disruptions and cancellations are the new normal. They also discuss the economics of summer vacation.
The Fed Interest Rate Hike
June 17, 2022 10:00 - 35 minutesIt 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, th...
Why the Ukraine War has Germany Worried About Bunkers
June 10, 2022 10:00 - 34 minutesIn 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.
How Banning Abortion Affects the Economic Lives of Women
June 03, 2022 10:00 - 37 minutesWith 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.
The Impact of School Shootings
May 27, 2022 10:00 - 31 minutesIt 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.
What Does a Crypto Crash Portend for the Economy?
May 20, 2022 10:00 - 35 minutesWith 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.
Why Low Unemployment Isn’t Better News
May 13, 2022 10:00 - 34 minutesThe 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.
Why the U.S. Stock Market is Tanking
May 06, 2022 10:00 - 34 minutesThe 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.
Bonus: Why is May Day so Violent in Berlin?
April 30, 2022 18:00 - 10 minutesThis 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.
How The Labor Movement Got Its Day
April 29, 2022 10:00 - 32 minutes - 44 MBIn this episode of 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. See acast.com/privacy for privacy and opt-out information.
How the Labor Movement Got Its Day
April 29, 2022 10:00 - 33 minutesIn 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.
Who Wins and Who Loses With Inflation
April 22, 2022 10:00 - 34 minutesIn 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 wh...
Why the American Tax System is Such a Mess
April 15, 2022 10:00 - 30 minutesOn 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.
The Fall and Rise of the Russian Ruble
April 08, 2022 10:00 - 36 minutesWestern 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.
The French Election
April 01, 2022 10:00 - 36 minutesThe 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.
The Economics Behind Mariupol
March 25, 2022 10:00 - 34 minutesMore 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.
The Collapse of China's Zero-COVID Policy
March 18, 2022 10:00 - 29 minutesMore 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.
How Rising Oil Prices Will Change the World as we Know it
March 11, 2022 11:00 - 32 minutes - 44.5 MBAs 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 state, residents pu...
How Rising Oil Prices Will Change the World as We Know It
March 11, 2022 11:00 - 34 minutesAs 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...
The War on Russia's Economy
March 04, 2022 11:00 - 32 minutesOn 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?
How Biden's Sanctions Against Russia Fall Short
February 25, 2022 11:00 - 34 minutesOn 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.
Could a Group of Truckers Actually Hurt the Canadian Economy?
February 18, 2022 11:00 - 34 minutesAdam 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?
Is the U.S. Economy Really Booming?
February 11, 2022 11:00 - 34 minutesThe 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.c...
Why Crypto Can't Buy Happiness
February 04, 2022 11:00 - 35 minutesThe 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/...
The Economic Legacy of Boris Johnson
January 28, 2022 11:00 - 38 minutesIf 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 subscript...
Inside the Davos Bubble
January 21, 2022 11:00 - 31 minutesIt'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 differ...
How Would Sanctions Work Against Russia Over Ukraine?
January 14, 2022 11:00 - 34 minutesTalks 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 cal...
The Economics of the Beatles vs. the Rolling Stones
January 07, 2022 11:00 - 37 minutesAfter 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 hysteri...
From the Archive: How Inflation Works
December 24, 2021 11:00 - 25 minutesWhen 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 n...
The Pentagon vs. Walmart
December 17, 2021 11:00 - 30 minutesCongress 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.
Is Democracy Better for the Economy?
December 10, 2021 11:00 - 32 minutesWith 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.
How Sanctions Work (and Why They Often Don't)
December 03, 2021 11:00 - 34 minutesU.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.
The Great Resignation/Pet Food
November 19, 2021 11:00 - 35 minutes10.4 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 ...
What the Infrastructure Bill Will do for Electric Cars in the United States
November 12, 2021 11:33 - 34 minutesPresident 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.
Jerome Powell vs. The Bond Markets
November 05, 2021 08:01 - 31 minutesOn 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.
A Guide to the COP26 Climate Summit
October 29, 2021 10:00 - 32 minutesOn 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.
Inflation: The Good, the Bad and the Ugly
October 21, 2021 21:05 - 24 minutesInflation 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.
The Economics Revolution and the Nobel Prize
October 15, 2021 10:00 - 31 minutesThis 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.
Scandal at the IMF and World Bank
October 08, 2021 10:00 - 26 minutesOn 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.
Is Olaf Scholz the German Joe Biden?
October 01, 2021 10:00 - 26 minutesOn 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.
Is Evergrande the New Lehman Brothers?
September 24, 2021 10:00 - 34 minutesOn 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.
Dancing on the Debt Ceiling?
September 17, 2021 10:00 - 26 minutesOn 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.
Coming Soon: Ones and Tooze, with Adam Tooze
September 02, 2021 23:26 - 2 minutesWhat 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://foreignpoli...