Stephanomics

For years, a small band of economists pushed an unorthodox approach to government spending (particularly in the U.S.), arguing that concern about deficits and debt was wildly overblown. Now, with measures to contain the novel coronavirus shutting down commerce around the world, and fiscal authorities spending trillions of dollars to fill the gap, it’s starting to become more popular.

Stephanie Kelton, an economist and adviser to Senator Bernie Sanders, the now-former Democratic presidential candidate, has been one of the most prominent advocates of Modern Monetary Theory. On this week’s episode, host Stephanie Flanders talks with Kelton about her thoughts on the fiscal response so far, and whether President Donald Trump has indeed joined the crowd of MMT advocates.

Tom Orlik, Bloomberg’s chief economist, also puts the government and central bank actions into perspective, while global trade correspondent Shawn Donnan discusses how his beat has changed during the pandemic.

See omnystudio.com/listener for privacy information.

In a matter of weeks the Covid-19 virus has turned the world upside down. In the start of a new season of Stephanomics, James Mayger and Zhu Lin report from China - the original epicenter of the virus – on how truck drivers there are trying to get back to normal. Then host Stephanie Flanders asks US economist Adam Posen how the economics profession has risen to the challenge of the crisis - and whether the right advice has been getting through to governments.

The terrible human cost of the coronavirus has been evident for some time. But most countries are only now starting to see the economic cost which fighting the pandemic will also inflict. In this third season of Stephanomics we’ll be doing our best to help you understand that story with reporting and insights from experts inside and outside Bloomberg.

See omnystudio.com/listener for privacy information.

Harnessing Bloomberg's reporting from every continent, Bloomberg's daily Prognosis podcast brings the news, data and analysis you need for living in the time of Covid-19. In around ten minutes, we will explain the latest developments in health and science, the impact on individuals, industries and governments and the adaptions they are making in the face of the global pandemic. Come back every weekday afternoon for a short dose of the best information about the novel coronavirus from more than 120 bureaus around the world.

First episode drops Thursday, March 26. Subscribe on Apple Podcasts, Spotify, or wherever you listen.

See omnystudio.com/listener for privacy information.

French economist Thomas Piketty made a big splash in 2014 with his best-selling book "Capital in the Twenty-First Century," stirring debate about how capitalism benefited the wealthy. He takes an even broader view in his new tome, "Capital and Ideology," whose English translation will be published in March. You can wait until then to read all 1000+ pages - or get a sneak preview with the author himself in this bonus episode of Stephanomics. 

In her conversation with Piketty, Stephanie Flanders discusses the impact of his book and why he thinks this one is better. He also offers his view of Donald Trump and Brexit, the limitations of electoral systems and the 2020 US election, the global rise of nationalism and why history does not move move in a straight line. 

See omnystudio.com/listener for privacy information.

This week, Stephanomics concludes its second season with a preview of Bloomberg Markets’ special trade issue, along with a look at what could stop the spread of the coronavirus.

Tyler Cowen, the George Mason University economist and Marginal Revolution blogger, talks with host Stephanie Flanders about how well—or how poorly—the U.S. and China are positioned to deal with the outbreak.

On trade, reporter Enda Curran visits Hong Kong and the city’s Toy and Baby Fair to get a sense of how the territory’s place in the world economy is being buffeted by democracy protests and the U.S.-China trade war. Then Stephen King, senior economic adviser at HSBC, returns to discuss what the history of globalization portends for the future.

See omnystudio.com/listener for privacy information.

Economy. Labor. Climate change.

These are the issues that are front-of-mind for attendees of this week’s World Economic Forum in Davos, Switzerland. On a special episode direct from the conference, Stephanie Flanders dives in with a leader from each field.

On the economy, JPMorgan Chase International Chairman Jacob Frenkel, a former Bank of Israel Governor and a 33-time Davos attendee, talks about why we’re still feeling the impact of the financial crisis. Next, Christy Hoffman, head of the international labor federation UNI, discusses how unions can become more relevant in a gig-economy world.

And finally, Jonathan Woetzel of the McKinsey Global Institute outlines a new report looking at the broad impact of global warming, and how companies are really just in the early stages of incorporating climate risk into their strategies.

See omnystudio.com/listener for privacy information.

If there’s one thing many Americans agree on, it’s the importance of education as a bedrock of the U.S. economy. Yet the federal government has left children’s education almost entirely up to states and towns, its funding subject to the vagaries of the real estate market and demographic shifts.

Reporter Craig Torres visits a rural community just hours from the nation’s capital, illustrating how difficult it is to improve opportunities for the less fortunate. Then host Stephanie Flanders delves into the issue with scholar Elaine Weiss of the Economic Policy Institute.

We’ll also hear from reporter Shawn Donnan in Washington, who talks with Flanders about whether this week’s “phase one” trade agreement between the U.S. and China means the conflict is ending, or if we’re really just at the beginning.

See omnystudio.com/listener for privacy information.

Americans are paying more and getting less for their health care than ever before. On the new season of Prognosis, reporter John Tozzi explores what went wrong. 

See omnystudio.com/listener for privacy information.

With tensions rising in the Middle East, investors have been increasingly focused on the risk of war between the U.S. and Iran. On this week’s episode, host Stephanie Flanders talks with Ziad Daoud, Bloomberg’s chief Middle East economist, about what’s at stake for the region and oil markets.

Then, in the first of two segments focused on education, European economy reporter Jeannette Neumann visits Greece to explore why people with so many degrees are having trouble getting jobs—and the government’s effort to attract workers who are needed most.

Finally, Flanders is joined by Federal Reserve reporter Chris Condon, who recaps the major themes from last weekend’s annual meeting of the American Economic Association. One burning question: Would you give up Facebook for a month in exchange for $50?

See omnystudio.com/listener for privacy information.

Will trade wars go the way of 2019 or keep on raging?

Is Europe’s economy finally on a rebound?

What does U.K. Prime Minister Boris Johnson’s election victory mean for U.S. President Donald Trump and the Democrats running to replace him?

These are just a few of the questions that Stephanie Flanders and our Bloomberg panel address in a special roundtable discussion.

Flanders is joined by Bloomberg Chief Economist Tom Orlik, senior trade and economy reporter Shawn Donnan, and European economy editor Jana Randow as they reflect on the key moments of 2019, and look ahead to 2020.

See omnystudio.com/listener for privacy information.