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US tariffs have sent financial markets into a frenzy in recent weeks, but how much should central bankers be taking trade into account when setting monetary policy? To find out, Soumaya Keynes sits down with Bank of Engl
Donald Trump’s trade policies have put global markets through the mill in recent weeks. But his policies didn’t come from nowhere. Aspects of US protectionism preceded Trump’s second term – and countries across the world
Over the past 25 years, the Gates foundation has given away more than $100bn. Much of that money has gone to healthcare and education projects outside the US – and the organisation plans to give $200bn more to various pr
The US dollar has been in slow decline for around a decade – so says Kenneth Rogoff, Harvard professor, and former chief economist of the IMF. Donald Trump’s trade policies have raised a lot of questions about the future
Almost a month since ‘liberation day’, the potential impacts of President Donald Trump’s tariff regime are starting to sink in. US hard data isn’t yet showing much negative impact from changes to US trade policy – but ec
When China joined the World Trade Organization at the start of this century, its surging exports rattled US manufacturing. Prices fell, jobs became less lucrative, and communities that relied on these jobs were hit hard.
Former Bank of England governor Sir Mervyn King has never shied away from expressing his opinion. Here, he sits down with his friend Martin Wolf — the FT’s chief economics commentator — to discuss some of the t
As Donald Trump declares a trade war on the rest of the world, it’s time to learn about a field of economic research known as “weaponised interdependence”. The bad news is that the US president’s weap
For the past few years, Germany has begun to look like the ‘sick man of Europe’ again. Its economy has barely grown since 2019, while its famous manufacturing sector has shrivelled. But earlier this month, financial mark
The UK’s Labour government had already inherited a tricky fiscal situation when it came to power last July. But since then, growth has stagnated, borrowing costs have risen, and now the government has committed to a big
Modern industrial economies were made possible by automation and mass production, but also by something similar going on inside the world of management. Where once all the decisions were made by an identifiable boss, now
After decades of double-digit growth, China's economy has been expanding at less than half that since the pandemic. A property market crash, youth unemployment and now a trade war with the US are all adding to the countr
The world economy is emitting carbon dioxide faster than ever before, meaning our planet is heating up faster than ever before. Martin Wolf speaks to someone who has spent much of the past two decades at the forefront of
US President Donald Trump has frozen all foreign aid payments, while Elon Musk is putting America’s biggest development agency, USAID, “through the woodchipper”. Meanwhile, the UK government has just announced it will sl
Donald Trump’s tariffs are a twentieth century tool that simply won’t work in the 21st century global trading system. That’s the view of today’s guest, Richard Baldwin, professor of international economics at the IMD Bus
Birth rates are falling fast and not just in highly developed countries. And as populations age, it’s becoming harder to fund pensions or raise labour productivity. But falling fertility could also be harming social cohe
The war in Ukraine is a humanitarian crisis. It is also an economic problem. Sanctions from the US and Europe are meant to make war too expensive for Russia to continue. President Vladimir Putin claims those sanctions ha
Productivity growth in the developed world has been on a downward trend since the 1960s. Meanwhile, gains in life expectancy have also slowed. And yet the number of dollars and researchers dedicated to R&D grows ever
Tariffs have historically been an important tool of industrial policy. They were used in the last century by east Asian nations to promote infant industries, and are being used today by the EU to help spur the energy tra
In an interview recorded before President Trump hit China, Mexico and Canada with steep tariffs that disrupt the global trading system, Ngozi Okonjo-Iweala, the director-general of the World Trade Organisation, speaks to
India is the world’s most populous nation, and since the 1990s it has maintained almost Chinese levels of rapid economic growth. Prime Minister Narendra Modi aims to make India a high income country and, by implication,
Sam Fleming is the FT’s Economics Editor, and this week he is reporting from the World Economic Forum at Davos, where much of the talk is about protectionism and industrial policy. Today on the show, Sam speaks to Beata
Doug Irwin is a professor at Dartmouth College and the author of several books on trade. Today on The Economics Show, he joins the FT’s Senior Trade Writer Alan Beattie to discuss the history of tariffs in the US, and wh
Increasingly elderly populations seen in countries such as Japan and Italy are set to become the norm everywhere in the coming decades. But will a more senior demographic make the cost of state pensions and healthcare un
In 1962, then US president John F Kennedy committed his nation to reaching the Moon before the decade was up. It was a huge undertaking, but one that ultimately succeeded, and also produced technologies such as camera ph
The Eurozone’s economic recovery from Covid-19 has been anaemic compared with America’s, despite achieving a soft landing from double-digit inflation. Indeed, Europe’s relative underperformance stretches back even longer
Mass immigration is demographically essential but politically impossible – so argues Lant Pritchett, development economist and visiting professor at the London School of Economics. As populations age in the rich develope
The US has just overcome one abrupt spike in inflation, which may have cost Kamala Harris her bid for the presidency. But now President-elect Donald Trump’s policy agenda threatens to cause another one. That’s according
It’s a treacherous time for the Eurozone. Inflation is falling, yes, but at the same time signs of real economic weakness are growing. And there are risks on the horizon, from rising debt to trade wars to real wars. It’s
The UK is lagging behind its peers in the Eurozone. Its per capita GDP trails that of France and Germany, and yet its housing and energy is scarcer and more expensive. A recent essay by Sam Bowman, co-authored with Ben S
Politicians on both sides of the Atlantic are having heated conversations about whether or not governments can be made more efficient. The results include two new agencies, Elon Musk’s ad hoc Department of Government Eff
Trump is returning to office with many of the same policies that characterised his last term. And for economists, none looms larger than the prospect of significant new tariffs. But are tariffs really as destructive as f
Michael Clemens of George Mason University is an expert on the economics of migration, and a scholar of its history. With the newly elected President Trump promising to deport millions of immigrants, we thought it was th
In 2025, some major provisions in the Tax Cuts and Jobs Act are going to expire. Meanwhile, spending is likely to rise. That means there is going to be a conversation about tax policy. Natasha Sarin was a counselor to Tr
Intuitively, research and development is a building block of a productive future. But exactly how important is it, and can we put a number on it? Heidi Williams is a professor of economics at Dartmouth College, and an ex
With the US election in a matter of weeks, today Soumaya Keynes is joined by the FT’s Washington bureau chief, James Politi. They discuss the Kamala Harris platform – from industrial policy to tax reform to housing – and
The effective altruism movement has been on a wild ride over the past decade. EA started – in the popular consciousness, at least – as a forum for mindful questions about where best to put charitable dollars. Think bed n
Race and gender have dominated headlines about economic outcomes in the past decades, but class … not so much. Class is often invisible, hard to describe and awkward to talk about. Anna Stansbury, an assistant professor
Jamaica’s economy struggled for decades, and at one point it had amassed debts worth more than 140 per cent of GDP. Even the IMF wouldn’t return its calls. But somehow, in the 2010s, it managed to halve its government de
This campaign, candidate Donald Trump is promising even more extreme versions of the policies that marked his first term. But what would higher, and more widespread, tariffs actually look like? And in what form would any
Jared Bernstein is the chair of President Biden’s Council of Economic Advisers. Today on the show, Soumaya gets to put him in the hot seat. She grills him about everything from price caps to inflation to the recent jobs
When presidential candidate Kamala Harris proposed legislation to ban price gouging, we naturally thought to interview Isabella Weber, an associate professor at the University of Massachusetts Amherst. Weber’s paper on t
Daron Acemoğlu is an economics professor at the Massachusetts Institute of Technology and the author of Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity . Today on the show, he and Soumaya di
Computer chips power toys and control nuclear reactors. They are in phones, cars and planes, getting us to work and keeping us safe. And they are at the centre of a growing tech war between the US and China, with many ot
How much would it take for you to retire? The question is fun to think about, but also central to a serious conversation happening in economics about the cost and wisdom of a universal basic income. Today on the show, So
Recent events, including a weak US jobs report, a pullback in Japan, and volatility in US markets have made life trickier for central bankers around the world. In the UK, moderating inflation led the Bank of England’s Mo
A recently released research paper calls into question many of the assumptions about the rate at which income inequality has grown in the US over the past 75 years. Today on the show, Soumaya and the FT’s economics comme
The GM plant in Janesville, Wisconsin, closed during the financial crisis in 2008, ending decades of production – and 3,000 steady, highly paid jobs. Journalist Amy Goldstein wrote about the town as the plant’s workers h
NOTE: This podcast was recorded before Joe Biden announced he was stepping down from the US presidential race Both the Republicans and Democrats are talking tough on economic competition with China. But is this wise? Tod
Hyun Song Shin is the economic adviser and head of research at the Bank for International Settlements, the “bank for central banks,” based in Basel, Switzerland. Today on the show, they talk about the possibilities and f