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Economist Podcasts

Through the fire: an update from Hawaii

Aug 16, 2023
Oliver Morton, The Economist's Briefings Editor, provides gripping insights into the devastating wildfires in Maui, discussing the environmental factors and failures in emergency response that contributed to the disaster. Mie Dahl highlights the coca crisis in Colombia, detailing the economic turmoil facing farmers since the 2016 peace deal while criminal groups thrive in the changing market dynamics. The conversation also touches on the urgent need for better preparedness against such catastrophic events in the future.
23:48

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Colombia is facing a major crisis due to a surplus of coca leaves and the resulting rock-bottom prices, causing economic and social challenges for coca-dependent communities.
  • Northern European countries are concerned about the dominance of English in universities and the potential loss of native languages, highlighting the need to find a balance between attracting international students and preserving linguistic diversity.

Deep dives

Colombia's Coca Glut and its Impact on Farmers

Colombia is experiencing a glut of coca leaves due to increased efficiency in cocaine production, political changes, and unintended consequences of policies. This surplus has led to rock-bottom prices, posing significant challenges for farmers who rely on coca cultivation. The increased production and larger labs have made the process more productive, resulting in a flood of cocaine in the market. The previous guerrilla organizations, FARC and ELN, which controlled the supply chain, no longer exist, allowing smaller criminal groups to enter the market. As a result, cocaine purchasers, mostly Mexican and European gangs, have the power to set lower prices, triggering an economic and social crisis for coca-dependent communities. The Colombian government's response, including subsidies and cash assistance, has been slow and limited, leaving farmers with few alternatives.

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