Ones and Tooze Is Democracy Better for the Economy?
Dec 10, 2021
The podcast dives into the intricate relationship between democracy and economic performance, examining how governance affects economic outcomes. They discuss the implications of Biden's Democracy Summit and the economic void left by China's absence. Additionally, there's a fascinating look at the booming classic car market, especially the skyrocketing value of models like the 1968 Ford Escort, driven by nostalgia and collector culture. The episode wraps up with lighthearted personal stories and holiday reading suggestions.
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Democracy vs. Economics
- The current geopolitical rivalry between the US and China is unusual because their economies are deeply interconnected.
- Unlike the Cold War, ideology drives the conflict despite strong economic ties.
Democracy and Economic Growth
- The relationship between democracy and economic success is complex and debated.
- Property rights and stability are key for investment, but democracy's impact varies.
Turkey's Economic Crisis
- Turkey's economic crisis stemmed from President Erdogan's interference with the central bank's independence.
- His unorthodox monetary policies, like cutting rates during inflation, fueled instability.
