VoxTalks Economics

Thierry Langreney, from the NGO Les Ateliers du Futur, and Mathieu Godard, Head of P&C at AXA France, discuss the complex interplay between climate change and the insurance industry. They explore the rising frequency of extreme weather events and the underinsurance crisis across Europe, where only a quarter of losses are covered. The duo highlights the need for mandatory insurance and solidarity among businesses. They also emphasize the importance of technology in risk assessment and envision sustainable practices for future resilience.

In the early hours of 2 September 1666, a spark in Thomas Farriner's bakery on Pudding Lane in the City of London ignited a blaze that would go on to consume 90% of the City’s houses. But how did economic activity and wealth rebound after the fire? Philipp Ager of the University of Mannheim and Paul Sharp of the University of Southern Denmark have used contemporary records to describe London’s uneven economic recovery. They tell Tim Phillips about the records they uncovered, and what they reveal about London’s economy before and after the fire.

Sena Coskun, an author and researcher at the University of Erlangen-Nuremberg, tackles the surprising issue of young, educated unemployment in Europe. She discusses how college graduates face higher unemployment rates compared to their high school graduate counterparts, particularly in southern Europe. Coskun delves into the disconnect between education and job availability, labor market frictions, and the impact of AI. She also highlights the long-term consequences of this crisis, including skill degradation and health issues, while proposing solutions to improve job matches.

In this insightful discussion, James Robinson, a University of Chicago professor and 2024 Nobel Prize co-winner, dives into the complexity of antisocial norms like the Colombian saying, "don’t be a toad." He explores how these norms, despite being disliked, persist in societies due to historical contexts such as La Violencia. Robinson also reveals the dynamics of altruism through economic games, shedding light on how personal beliefs clash with social expectations, and he discusses the critical need for institutional reform to challenge these ingrained behaviors.

Paul Novosad, a professor at Dartmouth College, and Sam Asher, a professor at Imperial College, dive into the backgrounds of Nobel Prize winners in science. They discuss how talent may be evenly distributed, but opportunity varies greatly based on socioeconomic factors. The conversation highlights the underrepresentation of women and the wealthy backgrounds of many laureates, emphasizing the need for equity in scientific fields. They advocate for initiatives to support gifted individuals from lower socioeconomic backgrounds, aiming for a more inclusive scientific community.

Allan Hsiao, an expert in food security policy, and Tim Phillips engage in a compelling discussion about India's controversial wheat export ban amid extreme heat and rising prices. They explore the delicate balance between ensuring domestic food security and the economic challenges faced by farmers. The conversation delves into the global implications of such policies in the context of climate change and geopolitical crises. The duo highlights the intricate relationship between agricultural policy, climate shocks, and the welfare of consumers and producers.

Benoît Schmutz-Bloch, an expert on social media's impact on protests, shares fascinating insights with Tim Phillips. They discuss why some protest movements thrive while others fizzle out, emphasizing social media's dual role in both organizing and potentially destabilizing these movements. The conversation touches on the evolution of the Yellow Vest movement in France, highlighting how online platforms influenced its trajectory and radicalization. They also explore the delicate balance between fostering peaceful protests and the risks posed by government responses.

Giancarlo Corsetti, a fiscal policy expert, and Riccardo Trezzi, an analyst of national debt challenges, tackle the alarming rise of U.S. federal debt. They discuss the imminent budget deficits and the stark reality of rising interest payments. Corsetti and Trezzi outline the urgent need for tax hikes and significant government spending cuts to manage this fiscal crisis. They warn against short-term fixes and stress the importance of bipartisan reform to safeguard the economy's future and maintain the dollar's global standing.

Carol Propper, an expert in public health, discusses the critical role of 3G internet access during the COVID-19 pandemic. She reveals how digital access enhanced healthcare delivery, particularly in Indonesia, leading to better health outcomes. The conversation highlights a negative correlation between internet connectivity and infection rates, emphasizing the advantages of urban areas with greater digital resources. Propper advocates for investing in digital infrastructure as a vital strategy for managing future health crises effectively.

Ghazala Azmat, an expert on organizational strategy, discusses her new initiative exploring how organizations craft their strategies. She highlights the critical role organizations play in solving societal problems. The conversation dives into the principles of organizational economics, emphasizing incentives and hierarchies that affect performance. Ghazala also addresses disparities in organizational success, advocating for a mix of corporate culture and capability to boost competitiveness. Lastly, she outlines ways researchers can collaborate to enhance strategic decision-making.