Money Talks from The Economist

India’s financial system is going through a rapid transformation. With the spread of fintech, and financial products aimed at small investors, millions of ordinary Indians who never before had access to capital markets now own tiny stakes in publicly traded companies. It’s fuelled the country’s remarkable stock market rally over the last five years. But is India’s financial system resilient enough to sustain this change? And what happens if things go wrong?Hosts: Ethan Wu, Mike Bird and Alice Fulwood. Guests: The Economist’s Tom Easton; Saurabh Tripathi, Head of Financial Institutions at BCG in Mumbai; and Sundararaman Ramamurthy, CEO of the Bombay Stock Exchange (BSE)Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.

For decades, western companies looked to Asia for growth. They saw an opportunity to establish their brands with a rapidly-expanding middle class. But now, in many parts of Asia, the growth of that aspirational class is slowing. So, what happened to Asia’s middle classes?Hosts: Mike Bird and Alice Fulwood. Guests: The Economist’s Ethan Wu; Wolfgang Fengler, CEO of research firm World Data Lab; and Ibrahim “Ben” Suffian of the Merdeka Centre for Opinion Research.Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.

Countries around the world finally agreed on the need to transition away from fossil fuels at last year's COP summit. The latest climate conference is now underway in Baku, Azerbaijan. But how much is the immense transition to clean and green energy really going to cost? And who is going to pay for it?Hosts: Mike Bird and Alice Fulwood. Guests: The Economist’s Gavin Jackson; and Adair Turner, Chair of the Energy Transition Commission.For more on COP29, check out the latest episode of our “Babbage” podcast, in which our correspondent travels to South Africa for lessons on how to end coal.Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.

Stock markets rallied, the dollar surged and Treasury yields jumped higher as it became clear Donald Trump would be returning to the White House. Investors bet on lower taxes boosting growth, while higher tariffs and an immigration crackdown may drive up inflation. But will investors get what they’re expecting from the return of Trumponomics?Hosts: Alice Fulwood and Mike Bird. Guests: The Economist’s US economics editor Simon Rabinovitch; and Piper Sandler’s Donald Schneider, who was the chief economist on the House of Representatives’ main tax-writing committee last time Trump was in the White House.For more US election analysis, check out our sister podcasts “The Intelligence” and “Checks and Balance”.Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.

Investors and central banks can’t get enough of gold. The precious metal’s price has climbed by 38% over the past year to over $2,700 per troy ounce—a record high. But gold pays no dividends, generates no yield and its value has very little to do with demand for jewellery, in which it is commonly used. So what’s behind the surging price of gold?Hosts: Mike Bird, Alice Fulwood and Tom Lee-Devlin. Guests: Gregor Gregersen, founder of The Reserve, a gold vault in Singapore; Shaokai Fan of the World Gold Council; and economic historian Nicholas Mulder.Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.

Earlier this month, Elon Musk unveiled a new autonomous taxi, designed by his car company Tesla. Musk promises that his Cybercab, a two-seater car without a steering wheel or pedals, will be on sale before 2027. But how realistic is this vision? With driverless technology still under development, how long will it be until autonomous vehicles become part of everyday life?Hosts: Tom Lee-Devlin, Mike Bird and Alice Fulwood. Guests: Simon Wright, industry editor at The Economist; Gavin Jackson, CEO of driverless software company OXA; Holly Watson Nall, an engineer at Oxa; and Kersten Heineke, head of the McKinsey Centre for Future Mobility.Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.

Why do some countries become rich, while others remain impoverished? It’s a question that inspired three academics awarded this year’s Nobel prize in economics—Daron Acemoglu and Simon Johnson of MIT, and James Robinson of the University of Chicago. We speak to the three laureates about their seminal work on the economic legacy of colonialism, why they think institutions such as private property rights and democracy deliver long-term prosperity, and what they make of the resurgence of authoritarianism.Hosts: Alice Fulwood, Mike Bird and Tom Lee-Devlin. Guests: Daron Acemoglu of the Massachusetts Institute of Technology; Simon Johnson of the MIT Sloan School of Management; James Robinson of The Pearson Institute for the Study and Resolution of Global Conflicts at the University of Chicago; and The Economist’s Gavin Jackson.Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.

For everything that happens online, there is a server in a room somewhere doing the work. The physical underpinning of everything that happens online has become big business. Demand for server capacity is growing rapidly with the development of cloud computing and AI, and so is the need for the massive, energy-hungry data centres that support it. The location of those digital warehouses is now crucial, not just for speed and proximity, but for the new tussles over data protectionism. So how will economic and geopolitical considerations shape the data-centre industry?Hosts: Mike Bird, Alice Fulwood and Tom Lee-Devlin. Guests: The Economist’s Ethan Wu; Cheam Tat Inn, managing director of Equinix Malaysia; and Waldemar Szlezak, global head of digital infrastructure at investment firm KKR.Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.

Agent commissions are a key part of how the US housing market operates. Realtors representing the seller and the buyer have typically taken a large cut of the sale price - usually 5% or 6%. Now the National Association of Realtors has lost a class action lawsuit brought by homesellers, claiming these high commissions are the result of anti-competitive practices. So will new rules, agreed in the settlement of this suit, bring down the cost of buying and selling a home?Hosts: Alice Fulwood and Mike Bird. Guests: Michael Ketchmark, personal injury attorney at Ketchmark and McCreight; and Rob Hahn, real estate strategist and author of the Notorious ROB Substack.Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.