The Economics Show

Markets haven’t exactly been calm since the conflict in Iran started. But are they mispricing the risks of a bigger economic blow-up? And how does this conflict compare with what happened after Russia invaded Ukraine? Host Soumaya Keynes discusses these questions with Robin Brooks, author of the Shadow Price Macro substack and senior fellow in the Global Economy and Development program at the Brookings Institution. Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.Read a transcript of this episode on FT.com

Some believe a deeper pool of common debt would allow the European Union to tackle some of its biggest problems, attracting more investment, reducing the cost of financing, and helping the EU achieve greater strategic autonomy. One such believer: Carlos Cuerpo, Spain’s economy, trade and business minister. In this episode, Soumaya asks him how a common EU safe asset would work, whether money (not politics) is the EU’s issue, and what the bloc could learn from Spain’s economic bounceback.Related linksEurope’s best bet for financial sovereignty is a true safe assetEurope is not thinking straight on competitivenessSubscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.Read a transcript of this episode on FT.com

Shortly after the US Supreme Court ruled Donald Trump’s tariffs were illegal, he hit back. The president vowed to impose a 10% levy on US imports through different means. He raised those duties to 15% the following day. These tariffs – imposed under the Trade Act of 1974, rather than the International Emergency Economic Powers Act (IEEPA) – are only temporary. But Trump has a range of tariff tools at his disposal. How will he use them? Which of his trading partners will be worse off from these new policy changes? And will US companies that have already paid tariffs get their money back? To discuss all this and more, Soumaya is joined by former US trade representative, and president of the Council on Foreign Relations, Michael Froman.Subscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Original music from Breen Turner, and sound design by Sean McGarrityRead a transcript of this episode on FT.com

When Richard Thaler and Cass Sunstein released their book ‘Nudge’ in 2008, it caught the public imagination. ‘Nudge theory’ – the idea that people could be encouraged to make better choices through small, subtle interventions – was innovative, and exciting. A decade and a half later, a whole lot of nudging seems to have come to a whole lot of nothing. Why wasn’t ‘nudge theory’ more help in tackling climate change, or helping people enroll in pensions? And, even if it hasn’t saved the world, does behavioural science still have a role in policymaking? Former member of the UK’s Behavioural Insights Team and professor of behavioural science, Nick Chater, reflects on the legacy of nudges.Related LinksCan we ‘nudge’ our way to higher growth?The uses — and the limits — of ‘nudge’ economicsWhat nudge theory got wrongSubscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.Read a transcript of this episode on FT.com

China’s export powerhouse is feeding global demand for cheaper electronics, cars, clothing, and plenty more besides. But the supercharged competition driving that trend is causing problems within China itself, including deflation and thin or negative profit margins. China’s government has recognised the problem, but what is it actually doing in response – and how should the country’s trading partners react? Soumaya speaks to Yanmei Xie, senior associate fellow at the Mercator Institute for China Studies, to discuss.Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.Presented by Soumaya Keynes. Produced by Josh Gabert-Doyon and Mischa Frankl-Duval. Manuela Saragosa is the executive producer. Original music and sound design by Breen Turner. The FT head of audio is Cheryl Brumley.For China, ‘involution’ is a blessing as well as a curseWhy China is reluctant to make a much-needed shiftFall in Chinese investment suggests Xi Jinping’s ‘anti-involution’ drive is bitingChina battles price wars in fight against deflationRead a transcript of this episode on FT.com

If you want to understand food – and eat better – economics is a good place to start. How do immigration patterns shape a country’s cuisine? How do labour laws make our working lunches worse? And why do strip malls serve such good grub? To find out, Soumaya Keynes talks to Tyler Cowen, economics professor at George Mason University and chair of the Mercatus Center think-tank. Cowen has written about food for more than two decades, including in his 2012 book An Economist Gets Lunch.Read Soumaya’s columns here: https://www.ft.com/soumaya-keynesSubscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen. Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Manuela Saragosa is the executive producer. Cheryl Brumley is the FT’s global head of audio. Original music and sound design by Breen Turner.Read a transcript of this episode on FT.com

The EU-India trade deal was partly a geopolitical statement, directed towards Trump. But what’s actually in it? What were the toughest bits to agree, who gave up concessions, and what will the deal mean for the economies of India and the EU? Soumaya Keynes is back to chat to Nicolas Köhler-Suzuki, adviser for trade and economic security, Jacques Delors Institute, and Ajay Srivastava, founder of the Global Trade Research Initiative in Delhi, and a former trade negotiator. Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.Further reading: EU and India seal trade pact to slash €4bn of tariffs on bloc’s exportsIndian exporters seek new markets after Donald Trump’s trade blitzEU leaders push to implement Mercosur trade pactPresented by Soumaya Keynes. Produced by Josh Gabert-Doyon, Manuela Saragosa is the executive producer. Original music and sound design by Breen Turner. The FT’s global head of audio is Cheryl Brumley.Read a transcript of this episode on FT.com

Are the headline growth figures really telling us the full story about the global economy? Gita Gopinath, a former deputy managing director at the IMF and a professor of economics at Harvard University, discusses this question with Martin Wolf, the FT’s chief economics commentator. They talk about how AI investments are offsetting the economic drag from tariffs, the risk of another financial crisis and whether the dollar can remain the world’s dominant currency. Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.Further reading: Trump is erasing the global economic orderSo you tried to buy a country . . . IMF warns global economic resilience at risk if AI faltersPresented by Soumaya Keynes. Produced by Josh Gabert-Doyon, Alex Bell and Kirsty Loughlin. Manuela Saragosa is the executive producer. Original music and sound design by Breen Turner. Read a transcript of this episode on FT.com