The Economics Show

In this discussion, Chris Miller, an associate professor at Tufts University and expert on the geopolitics of technology, dives into the intense chip wars between the US and China. He highlights government investments focused on onshoring semiconductor production to bolster national security. The conversation also explores the critical role Taiwan plays in the global supply chain and its implications for AI advancements. Furthermore, they discuss how upcoming elections could reshape semiconductor policy and the push for transparency in supply chains amidst geopolitical tensions.

Pilita Clark, a Financial Times editor and columnist, joins the conversation alongside Mouhcine Guettabi, a researcher known for studying Alaska's citizen payments. They delve into what it would take to quit a job and explore universal basic income's complexities. Key topics include how Alaska's financial windfalls affected work behavior, revealing unexpected boosts in employment for some. Gender disparities in financial decisions are also examined, along with insights from basic income trials in Texas and Illinois that provided monthly support but reduced work participation.

Catherine Mann, a member of the Bank of England’s Monetary Policy Committee, shares her insights on the complexities of global monetary policy. She discusses the recent weak US jobs report and its ripple effects on central banks. Mann argues for holding interest rates steady amid falling inflation and economic volatility, while examining how these changes impact mortgages and renters. She highlights the differences in economic recovery between the UK, US, and euro area, and the importance of firm expectations in shaping future monetary decisions.

Chris Giles, an economics commentator for the Financial Times, joins to discuss new research challenging the prevailing views on income inequality in the US over the last 75 years. They dive into the contentious methodologies that highlight discrepancies in income data, especially regarding the top 1%. The conversation touches on how government spending impacts different income groups and presents diverse perspectives on the issue. Giles emphasizes the importance of debate in economics for refining understanding and pushing the field forward.

Amy Goldstein, an insightful journalist and author of ‘Janesville: An American Story’, shares her experiences covering the closure of a GM plant in Janesville, Wisconsin. She discusses the profound impact on the local community, detailing personal stories of families facing job loss and the challenging transition away from the middle class. Goldstein also examines the mixed effectiveness of job retraining initiatives and emphasizes the emotional significance of manufacturing in American life, offering a compelling look at resilience amid economic change.

Adam Posen, President of the Peterson Institute for International Economics, discusses the US's tough stance on China. Topics include China's economic shift under President Xi, US misconceptions about manufacturing, unilateralism in economic policies, proposed changes in US policy towards China, and counterarguments to views on China's economic behavior and national security.

Hyun Song Shin is the economic adviser and head of research at the Bank for International Settlements, the “bank for central banks,” based in Basel, Switzerland. Today on the show, they talk about the possibilities and final limits of monetary policy. It’s a wide-ranging discussion about the machinery of international finance, covering everything from how much credit central bankers should get for the recent fall in inflation, to what would happen if we returned to a low-rates world.To take part in the audience survey and be in with the chance to win a pair of Bose QuietComfort 35 wireless headphones, click here. Click here to find T&Cs for the prize draw.Soumaya Keynes writes a column each week for the Financial Times. You can find it hereSubscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Nobel Prize-winning economist Angus Deaton rethinks assumptions in economics, discussing critiques of the profession, immigration impacts, and globalization's role in poverty reduction. He challenges traditional views on poverty measurement, international aid efficacy, and randomized control trials. Reflecting on biases in econometric techniques, Deaton emphasizes the need for economists to broaden their education and consider marginalized groups' welfare.

Data reporter John Burn-Murdoch joins Soumaya to discuss the changing relationship between the economy and elections. They analyze how economic sentiment influences voter behavior in the US and UK, mentioning the impact on disaffected Trump supporters and the role of education. The podcast also touches on immigration policies, challenges in the American and British political systems, predictions for Labour and the Tories, recent election results in the UK and US, and emotional hedging in elections.

Harvard professor Zoe Cullen and FT columnist Pilita Clark discuss the benefits and risks of pay transparency. They explore how different types of transparency can impact gender pay equality and workplace dynamics. The podcast also examines the impact of pay transparency on job advertisements and analyzes studies on its effectiveness in addressing pay disparities.