{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/9a03fe9e-1ff0-4dcc-b3f6-50bd1f016ea4/3607374a-0248-46d3-a9ba-18ad3d140170?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Post-Covid Economics","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/6195701f2eacc3a36070252a/619570bccb3c660012e3cead.jpg?height=200","description":"<p>This week a special edition from the Bristol Festival of Economics with Helen Thompson and&nbsp;Adam&nbsp;Tooze&nbsp;talking about what might follow the pandemic.&nbsp;From vaccines to changing patterns of employment, from action on climate to new tensions with China, we explore what the long-term effects of 2020 might be.&nbsp;Plus we discuss what options are open to a Biden administration: with the Georgia run-offs to come and the disease still spreading, how much wriggle room has he got?</p><p><br></p><p>Talking Points:&nbsp;</p><p><br></p><p>Headlines about the COVID vaccines focus on effectiveness, but it’s also about supply chains, storage, and scale.</p><ul><li>Things are moving so quickly right now in part because so many people, especially in the US, are getting sick.</li></ul><p><br></p><p>After the initial financial meltdown in March, in aggregate terms there was a share market recovery—one which was at odds with what was going on with people’s lives.</p><ul><li>Surging American unemployment numbers went alongside the S&amp;P 500’s continued rise.</li><li>The biggest beneficiaries initially were big tech. Now big pharma seems to be gaining.&nbsp;</li><li>Is there a structural conflict in the allocation of capital between big tech and big pharma?&nbsp;</li><li>Big tech probably won’t be facing much of a challenge from the White House.</li></ul><p><br></p><p>The Biden administration will be embroiled in crisis politics from Day 1.</p><ul><li>The epidemic in the US right now looks terrifying, and Thanksgiving is on the horizon.</li><li>The logic of economic crisis management is about time.&nbsp;</li><li>The Democrats are going to have a hard time getting things through Congress, and the fact that things are so hard will divide them further.&nbsp;</li></ul><p><br></p><p>The Biden Administration will make early moves on climate.</p><ul><li>It will be hard for Biden to take climate seriously without some kind of detente with China, but getting there is hard to imagine.&nbsp;</li></ul><p><br></p><p>After the health crisis ends, some jobs might not come back.</p><ul><li>The effectiveness of short-term working means that the unemployment crisis has not yet hit in Europe.</li><li>The US unemployment crisis is in full swing. So far, the bounce back has been relatively quick. But there will be a manifest social crisis.&nbsp;</li></ul><p><br></p><p>There are imaginably worse pandemics than this one, and yet we have responded in an almost unimaginable way.</p><ul><li>This is a highly mediatized, diffuse threat that has acquired huge salience.&nbsp;</li><li>This is the most extraordinary thing that has happened in modern economic history.&nbsp;</li><li>A lot of this unprecedented response was voluntary.</li></ul><p><br></p><p>Mentioned in this Episode:&nbsp;</p><ul><li><a href=\"https://www.foreignaffairs.com/articles/united-states/2020-01-23/why-america-must-lead-again\" rel=\"noopener noreferrer\" target=\"_blank\">Biden’s piece in <em>Foreign Affairs</em></a></li><li><a href=\"https://www.nytimes.com/2020/11/16/opinion/coronavirus-climate.html\" rel=\"noopener noreferrer\" target=\"_blank\">Paul Krugman’s latest piece for the <em>NYTimes</em></a></li><li><a href=\"https://www.talkingpoliticspodcast.com/blog/2020/239-adam-toozeshockwave\" rel=\"noopener noreferrer\" target=\"_blank\">Our last episode with Adam</a></li></ul><p><br></p><p>Further Learning:</p><ul><li><a href=\"https://www.nytimes.com/interactive/2020/science/coronavirus-vaccine-tracker.html\" rel=\"noopener noreferrer\" target=\"_blank\"><em>The NYTimes’ COVID vaccine tracker</em></a></li><li><a href=\"https://www.theguardian.com/environment/2020/sep/22/china-pledges-to-reach-carbon-neutrality-before-2060\" rel=\"noopener noreferrer\" target=\"_blank\">More on China’s pledge to become carbon neutral by 2060</a></li><li>https://www.ideasfestival.co.uk/themes/festival-economics</li></ul><p><br></p><p><strong>And as ever, recommended reading curated by our friends at the LRB can be found here: </strong><a href=\"http://lrb.co.uk/talking\" rel=\"noopener noreferrer\"...","author_name":"David Runciman and Catherine Carr"}