Economists are a gloomy lot, and no less so at Christmas. Whereas most people see gift-giving as a source of joy, economists fret about the potential for misallocated resources. One Scrooge-ish study found that, on average, $100 spent on gifts was worth the same as around $85 of cash spent directly by the recipient. But are there reasons to believe that over time, Christmas is becoming more efficient?
On this week’s podcast, hosts Soumaya Keynes, Mike Bird and Alice Fulwood hear from the father of Scroogenomics, Joel Waldfogel, about why Christmas may be improving for economists—even if it means fewer presents. And they speak to The Economist’s Ore Ogunbiyi about the nightmare after Christmas for retailers.
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Money Talks: Is Christmas becoming more efficient?

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More than 1bn people around the world are obese. That means there should be extraordinary demand for drugs to cure or mitigate the condition. Novo Nordisk is now Europe’s most valuable company and Eli Lilly’s market value has more than doubled. Both make the “miracle” drugs that can help people shed up to a fifth of their body weight. But these drugs promise to do more than boost drug companies’ profits. How will they reshape the economy?
Hosts: Alice Fulwood, Mike Bird and Tom Lee-Devlin. Guests: The Economist’s Georgia Banjo; pharmaceuticals analyst Michael Nedelcovych; and John Cawley, a professor of public policy and economics at Cornell University.
Subscribers to Economist Podcasts+ can listen to our January 2023 episode on the economics of thinness.
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Money Talks: Why weight-loss drugs will reshape the world

Amazon started with a plan to disrupt bookselling. It sold cheap books online, delivering them straight to customers’ homes. Three decades later it employs a million people in America and owns one hundred warehouses, each stocked with millions of products. More than a third of the US e-commerce market flows through it. Now, another company has spied an opportunity to disrupt Amazon: Temu. The Chinese e-commerce giant wants to undercut its US rival, delivering impossibly cheap stuff to Americans straight from factories in China. How worried should Amazon be? Hosts: Alice Fulwood, Mike Bird, Tom Lee-Devlin. Guests: Wendy Woloson of Rutgers University-Camden; Mark Shmulik of Bernstein; Michael Morton, an e-commerce analyst at MoffettNathanson; and Josh Silverman, CEO of Etsy. 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. Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Why Amazon should be afraid of Temu

It's been two years since Russia brought war to Ukraine. America, Britain and the European Union may not have intervened by putting boots on the ground—but they have launched a massive financial counteroffensive. Vladimir Putin’s government, his cronies and the businesses profiting from the war are all subject to sanctions, yet the Russian economy has proved remarkably resilient. So, does financial warfare work? Hosts: Mike Bird, Alice Fulwood and Tom Lee-Devlin. Guests: The Economist’s Cerian Richmond Jones; Juan Zarate, the architect of America’s sanctions after the September 11th attacks; and Nicholas Mulder, author of “The Economic Weapon”, which examines the rise of sanctions as a tool of war. Get a world of insights for 50% off—subscribe to Economist Podcasts+ If you’re already a subscriber to The Economist, you’ll have full access to all our shows as part of your subscription. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account. Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Is the West losing its sanctions war?

European firms dominate the global luxury landscape, accounting for two-thirds of sales and nine of the ten most valuable luxury brands. A strong emphasis on heritage and control of the supply chain have helped ensure success. But can Europe hold on to its crown? Hosts: Tom Lee-Devlin, Alice Fulwood and Mike Bird. Guests: Thomai Serdari, a professor of marketing at NYU Stern; and Ermenegildo Zegna, CEO and chairman of Zegna Group, an Italian luxury company. Sign up for a free trial of Economist Podcasts+. If you’re already a subscriber to The Economist, you’ll have full access to all our shows as part of your subscription. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account. 
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Money Talks: Europe’s luxury crown

We raise the curtain on the business of New York’s iconic theatre district. Broadway has been struggling with rising costs and falling sales since the pandemic, but its financial drama started much earlier. The economic plot just doesn’t make sense. Will the lights go out on the Great White Way? Hosts: Alice Fulwood, Tom Lee-Devlin and Mike Bird. Guests: The Economist’s Stevie Hertz; actor Leanna Rae Conception; Megan O'Keefe, executive vice-president of production company No Guarantees; Broadway investor, Ken Willman; Oliver Roth, CEO and producer at OHenry Productions, Kate Shindle, president of Actors’ Equity; and Lee Seymour, producer. Sign up for a free trial of Economist Podcasts+. If you’re already a subscriber to The Economist, you’ll have full access to all our shows as part of your subscription. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account. Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Is Christmas becoming more efficient?

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