Ones and Tooze

The Declaration of Independence, which founded the United States as an independent nation, was written in 1776—the same year that Adam Smith published The Wealth of Nations, the most prominent early treatise on international capitalism. Whether that represents a coincidence remains an ongoing debate. What’s clear, however, is that over the past two and a half centuries, the United States emerged as a slave economy, a free labor economy, a debtor nation, a creditor nation, and ultimately a powerful empire. Adam and Cameron discuss.
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Adam and Cameron recorded this episode from Dalian, China, where they’re attending the World Economic Forum’s 17th Annual Meeting of the New Champions, known as “Summer Davos.” They discuss the economy of China.
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As the 10th anniversary of the Brexit referendum approaches, Adam and Cameron discuss the impact on the British economy.

Also on the show: The Allied invasion of Normandy. 
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Germany is considering a package of reforms to reduce its welfare state and make the economy more productive. This would include changes to labor laws, welfare payments to the unemployed, and the retirement age. In this live show in Berlin, Adam and Cameron discuss the potential reforms and also the Tempelhofer Feld, a huge park in Berlin where some Germans now want to build apartments to address the city’s housing crisis.

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Real disposal income has grown in the United States much faster than in Europe since the beginning of the century. Does that mean European economies are falling behind? It’s a debate some prominent economists are having lately, including Nobel winners Paul Krugman and Philippe Aghion. Adam and Cameron discuss.

Also on the show: The economics of Morocco.
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