Economist Podcasts
Minds blown: are we getting dumber?
Dec 13, 2024
In this conversation, an anonymous contributor discusses the precarious state of the Russian economy, highlighting potential crises amid ongoing conflicts. Anne Rowe reflects on Shalom Nagar, the Israeli prison officer associated with Adolf Eichmann, unpacking the emotional weight of his role. They touch on alarming trends in adult cognitive skills, revealing many perform worse than ten-year-olds, and debate the socio-economic implications of declining literacy rates in affluent nations. Get ready for some profound insights and historical reflections!
21:52
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Quick takeaways
- Recent OECD surveys indicate a significant decline in adult literacy and numeracy skills, particularly affecting those at the lowest proficiency levels.
- The podcast explores the precarious state of Russia's economy, highlighting unsustainable military spending amid high inflation and soaring interest rates.
Deep dives
The Current State of the Russian Economy
Russia's economy is facing significant challenges, with interest rates soaring to an unprecedented 21% due to high inflation and war-related spending. Despite the tough sanctions imposed following the invasion of Ukraine, the economy still managed to grow by 3.6% last year and is expected to maintain similar growth this year. However, this performance is not necessarily a sign of strength; rather, it highlights a precarious situation where the government is forced to increase defense spending at an unsustainable rate. Analysts warn that this combination of high interest rates and growing military expenditures may soon lead to economic decline.
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