New Enlightenment

In this episode, we welcome Ilias Alami to discuss state capitalism and his new book, co-authored with Adam Dixon, The Spectre of State Capitalism. We discuss why we are currently witnessing a historic arc in the trajectories of state intervention, characterised by a drastic reconfiguration of the state's role as promoter, supervisor, shareholder-investor, and direct owner of capital across the world economy. We discuss why the new state capitalism is rooted in deep geopolitical economic and financial processes pertaining to the secular development of global capitalism, as much as it is the product of the geo-economic agency of states and the global corporate strategies of leading firms. We discuss the growing fusion of private and state capital, and the development of flexible and liquid forms of property that collapse the distinction between state and private ownership, control, and management. This has fundamental implications for the nature and operations of global capitalism and world politics. Takeaways The expansion of the state's role in the economy is a response to structural transformations in global capitalism and not primarily an ideological shift. Understanding state capitalism requires a global outlook and an analysis of transnational connections and inter-referentiality. The material transformations in the global economy have triggered ideological and ideational adjustments regarding the role of the state in the economy. State capitalism is not limited to a specific political ideology and is observable across different political systems. The integration of state-owned enterprises in global trade and finance has led to a new form of state ownership that mimics private sector practices. Adam Smith's Panmure House: Website Adam Dixon: On X On LinkedIn Ilias Alami: On X On LinkedIn https://www.devstudies.cam.ac.uk/staff/dr-ilias-alami https://global.oup.com/academic/product/the-spectre-of-state-capitalism-9780198925194?view=Grid&facet_narrowbyproducttype_facet=Digital&lang=en&cc=st

In this episode, we welcome Dan Klein to discuss the rise and implications of hate speech and hate crimes laws. The discussion touches on hate as a philosophical concept, delving into Adam Smith's perspective on hate and the asymmetry of social and unsocial passions. We discuss the universal nature of hate and the cultural and societal factors that influence its expression. The conversation raises questions about the politics behind hate crime and hate speech legislation. Klein questions the need for enhanced penalties for certain motivations, arguing that it creates inequality between different types of wrongdoings. We also discuss the idea that character traits should not be punished by the law and express concerns about the potential abuse of power and censorship. The conversation closes with a discussion of the importance of viewpoint diversity and fostering open dialogue. Takeaways Hate speech and hate crime legislation is on the rise, with a distinction between criminalising certain forms of speech and enhancing penalties for crimes motivated by perceived bias. Adam Smith emphasised the asymmetry of social and unsocial passions, urging individuals to tamp down unsocial passions and be cautious in expressing them. The cultivation of proper sentiments, including the management of hate, is a cultural and societal process that requires good examples, exemplars, and a bottom-up approach. Hate crime legislation raises concerns about defining hate and its potential manipulation for political and cultural agendas, highlighting the need for careful consideration and balance in addressing hate. Enhanced penalties for certain motivations in hate crimes can create inequality between different types of wrongdoings. Punishing character traits through the law is dangerous and goes against the principles of classical liberalism. There is a concern about the abuse of power and the potential for censorship in the enforcement of hate crimes and hate speech laws. Adam Smith's Panmure House Adam Dixon Dan Klein - Mercatus Center Dan Klein - George Mason University Adam Smith Program

In this episode, we sit down with Jan Bebbington, Professor of Sustainability in Business, to discuss the evolving landscape of social and environmental accounting. We explore sustainability accounting in helping organisations contribute to achieving the Sustainable Development Goals (SDGs). She emphasises the need for organisations to navigate the complexities of achieving multiple SDGs simultaneously and the importance of collaboration and partnership. Bebbington acknowledges the challenges of transitioning to a sustainable economy and the need for innovative solutions and collective action. The conversation explores the challenges of integrating sustainability into financial and operational practices. It discusses the misconception that organisations need to maximise profits and highlights the importance of nuanced business purposes. The conversation also delves into the complexities of decision-making in a non-linear ecological context and the need for traceability in supply chains. It explores the emergence of import bans on materials associated with deforestation and the implications for businesses. The future of sustainability accounting is discussed, including the mainstreaming of environmental and social reporting and the challenges of audit and assurance. The conversation concludes with a focus on the changing domains of responsibility and the need for businesses to align with the spirit of sustainability regulations. Takeaways Sustainability accounting involves using accounting technologies to create organisational control and accountability for sustainable development. The Sustainable Development Goals (SDGs) provide a framework for organisations to contribute to sustainable development. Achieving the SDGs requires navigating the complexities of multiple goals and collaborating with various stakeholders. Transitioning to a sustainable economy is a complex task that requires innovation, experimentation, and collective action. Organisations do not need to maximise profits; their purposes are often more nuanced and focused on returns that support the well-being of stakeholders. Decision-making in a non-linear ecological context is complex and requires accounting for impacts and dependencies. Traceability in supply chains is crucial as organisations are increasingly held responsible for the actions of their suppliers. Import bans on materials associated with deforestation are emerging as a form of governance, creating challenges for businesses in terms of traceability and market access. The future of sustainability accounting involves mainstreaming environmental and social reporting, as well as addressing the complexities of audit and assurance. Businesses need to align with the spirit of sustainability regulations and focus on the purpose and impact of their operations. Adam Smith's Panmure House Adam Dixon Jan Bebbington Jan Bebbington at Lancaster University

In this episode, we sit down with Sarah Bauerle Danzman to explore the increasing tensions between the United States, its allies in Europe, and China in the context of investment regulations and restrictions, as well as technological supremacy. We delve into the historical context of US-China relations, the bipartisan support in the US for policies tough on China, the influence of the business and financial community, and the role of Europe in this geopolitical landscape. The conversation explores the intersection of investment regulations, economic competition, and national security concerns in the context of US-China and European relations. Takeaways US-China tensions are driven by concerns around technological supremacy, investment regulations, and national security. Bipartisan support for policies tough on China is evident, with a focus on economic security and national security. The business and financial community in the US is navigating the impact of securitised political economy, with a focus on policy certainty and lobbying for industrial policy. Europe's role in the geopolitical landscape is evolving, with a focus on economic competitiveness, security concerns, and the dynamics of the US-Europe-China relationship. Adam Smith's Panmure House Adam Dixon https://www.sarahbauerledanzman.com/ Sarah Bauerle Danzman on X Sarah Bauerle Danzman on LinkedIn

In this episode, we sit down with Indrajit Roy to discuss the past, present, and future of Indian democracy, just as the country of more than 1 billion people goes to the polls. The conversation delves into the state of Indian democracy, its historical context, and the impact of Modi's leadership. We explore the effectiveness of Indian democracy in providing a voice to its citizens and the impact on social and economic equality. We discuss the rise of Hindu nationalism and its impact on Indian society and politics, noting the departure from the principles of liberal democracy, particularly around non-discrimination of minority groups. Notwithstanding, the resistance against illiberal tendencies in India is evident through institutional, political, and social activism. This highlights the durability of Indian democracy. Takeaways Indian democracy faces challenges in providing social and economic equality, despite its effectiveness in giving a voice to historically oppressed communities. The rise of Hindu nationalism under Modi's leadership has led to a departure from the principles of liberal democracy, impacting religious minorities and creating a Hindu homogeneous group. The historical context of Indian democracy and the impact of Hindu nationalism on Indian society and politics are critical to understanding the current state of Indian democracy. Caste dynamics play a significant role in Indian politics, with upper caste groups holding disproportionate wealth and power. Modi's leadership has seen positive developments in infrastructure investment, reduction of petty corruption, and digitization of financial transactions. The resistance against illiberal tendencies in India is evident through institutional, political, and social activism, highlighting the durability of Indian democracy. Links: Adam Smith's Panmure House Adam Dixon Indrajit Roy on X Indrajit Roy in Linkedin University of York Audacious Hope: An Archive of How Democracy is being Saved in India

In this episode, we sit down with Philip Rathgeb to discuss the impact of radical right parties on social and economic policies in Europe and the USA. Rathgeb explains that the rise of the radical right is a result of the depoliticisation of the economy because of the neoliberal consensus of the last few decades. This has led to a migration of political conflict to cultural issues such as immigration and identity. The radical right, according to Rathgeb, seeks to politicise these issues and undermine liberal democratic institutions. Rathgeb introduces the concept of 'culture war capitalism' which explores the interdependence between cultural and economic policies. He provides examples of how radical right parties use family policy to implement their cultural principles and entrench gender roles. The conversation then delves into the upcoming European Parliament elections and the dispute among radical right parties from different countries in terms of foreign policy and the economy. Takeaways The rise of the radical right is a response to the depoliticisation of the economy under the neoliberal consensus. Radical right parties politicise cultural issues such as immigration and identity to undermine liberal democratic institutions. The concept of 'culture war capitalism' explores the interdependence between cultural and economic policies.    Radical right parties use family policy to implement their cultural principles and entrench gender roles. Radical right parties in Europe contest different elements of globalisation.  The upcoming European Parliament elections will see the rise of radical right parties, posing challenges in foreign policy and the economy. Mainstream parties need to understand and address the anxieties of voters to counter the rise of the radical right. Links: Adam Smith's Panmure House Adam Dixon Philip Rathgeb: LinkedIn X How the Radical Right Has Changed Capitalism and Welfare in Europe and the USA Website

Helen Thompson, a Professor of Political Economy at the University of Cambridge and co-host of the podcast These Times, delves into the geopolitical dynamics of the energy transition. She discusses how today’s energy landscape mirrors 20th-century oil economies, emphasizing state involvement's crucial role. The conversation highlights China's advantages in minerals for renewable energy and the escalating competition with the U.S. Insights into how energy policies intersect with electoral dynamics and future interdisciplinary collaborations make for a compelling listen.

In this episode, we sit down with Dr Joseph Henrich of Harvard University to discuss his work on how humans evolved genetically to be a cultural species. Our conversation begins with a discussion of radical interdisciplinarity, or how we need to adopt multiple approaches and perspectives to answer complex social scientific questions. This contrasts with a disciplinary focus, which still dominates most research. Our conversation then turns to discussing Henrich’s wider research agenda, exploring his two most recent books The Weirdest People in the World and the Secret of Our Success, and his current book project, The Collective Brain. Our conversation touches on humans as a cultural species, how the nature vs. nurture binary is false, and how policies regarding marriage and the family implemented by the Roman Catholic Church in the Medieval period shaped psychological variation observed in Western societies, leading to a more individualistic psychology, changes in the nature of Western law, and eventually leading to things like representative government. Takeaways Radical interdisciplinarity is crucial for addressing complex research questions and fostering innovation. Interdisciplinary research requires collaboration and the ability to navigate different disciplinary languages and methodologies. Cultural evolution plays a significant role in shaping human nature and preferences. Institutions and policies need to be tailored to the local psychology and cultural context to be effective. Cultural learning and transmission have played a crucial role in human adaptation and evolution. The accumulated wisdom in our culture drives genetic evolution and shapes our physiology and behaviour. The Western Church's policies regarding marriage and the family have influenced the psychological variation observed in Western societies. Understanding the cultural evolution of institutions is important for international development policy and international relations. Links: Adam Smith's Panmure House Adam Dixon Joseph Henrich Weirdest People in the World

In this episode, we sit down with tech evangelist James Whittaker to discuss the potential impact of artificial intelligence (AI) on society. We explore the short-term impacts of AI, including the potential for AI to spread disinformation but equally the possibility for AI to debunk false information. In regards the long term, we discuss the potential loss of purpose and creativity in humans as AI takes over more tasks, a concern not dissimilar to those at the beginning of and through the First Industrial Revolution. The conversation explores the challenges of regulating AI, where geoeconomic considerations are in play. The EU’s push to regulate AI will not stop development elsewhere, namely in authoritarian states. The conversation concludes with a discussion on the ownership of personal data and the possibility of compensating use of data with equity (shares) from the firms that use it. Takeaways The development of AI requires three milestones: knowledge leaving the human mind, digitizing knowledge for machine readability, and access to massive storage and computing power. The short-term impacts of AI include the spread of disinformation, which can be combated by AI debunking false information. Humans may lose their sense of purpose and creativity as AI takes over more tasks. Now is the time to discuss how regulation may be necessary to address the ethical and societal implications of AI. AI is non-deterministic and learns like humans, making it capable of automating tasks beyond what software can do. The ownership of personal data should be recognised, and individuals should be compensated with equity for its use. The regulation of AI is challenging due to the lack of understanding among regulators and the influence of industry. The impact of AI on jobs and society requires a new approach and potential solutions like basic income. Adam Smith's Panmure House: https://panmurehouse.org/ Adam Dixon: https://twitter.com/DrAdam_Dixon James Whittaker: https://twitter.com/docjamesw https://www.linkedin.com/in/docjamesw/

In this episode, we welcome Gracelin Baskaran, Director of the Project on Critical Mineral Security at the Center for Strategic and International Studies, to discuss the geopolitics and geo-economics of critical minerals. We discuss how China’s dominance in the sector can be addressed by building new relationships with countries in Africa and South America. But the benefits must not go in one direction. The opportunity in diversifying the critical mineral supply chain is more than addressing national and economic security considerations. There is a huge development opportunity. This requires building new relationships in producing countries, investing in their infrastructure, and processing capabilities. Western governments and western companies need to step up their engagement and build better relationships in the Global South. Takeaways: China is not the only producer of critical minerals; resource-rich countries in Africa and South America offer opportunities for the United States and other advanced economies to diversify their supply chains. Responsible mining practices are crucial to minimise environmental damage and ensure a more mutually beneficial model of mining for resource-rich countries. Critical minerals are essential for national economic and energy security, as they are used in defence applications, electronics, and energy technologies. The West, including liberal democracies, needs to address the security and economic implications of relying on China for critical minerals. Partnerships with countries that have capital to deploy, such as Middle Eastern countries like Saudi Arabia, can help secure critical mineral supply. Geology and political and economic stability are important considerations when choosing mining jurisdictions. Financing development is crucial for resource-rich African countries to ensure better education, health, and standard of living. Critical minerals offer significant potential for Africa's economic development, but avoiding the resource curse is a challenge. Adam Smith's Panmure House: https://panmurehouse.org/ Gracelin Baskaran: https://www.csis.org/people/gracelin-baskaran https://twitter.com/GraceBaskaran https://www.linkedin.com/in/gracelinbaskaran/