To state the obvious, there are many hurdles to addressing the climate crisis in a meaningful way. However, there’s been one relatively bright spot on this front in the last decade: the price of renewable energy — particularly solar and wind power — has dropped dramatically. By many measures, they’re now cheaper to produce than fossil fuels. 

So does that mean when it comes to a “green transition” can we just sit back and let the market take care of it? 

According to Brett Christophers, a professor at the Institute for Housing and Urban Research at Uppsala University and author of the new book “The Price is Wrong: Why Capitalism Won't Save the Planet”: absolutely not.

On this episode, Mark and Brett discuss the many reasons why cheap renewable energy production won’t lead to renewables dominating the energy market. In doing so, they also put the entire energy economy under a microscope and challenge the notion that the private sector will ever be able to lead us through a green transition.

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This is a new experiment we’re trying at the Rhodes Center Podcast. 

From time to time, going forward, instead of focusing on one expert and their latest research, Mark will take a deeper dive into one issue (or one question) that’s been bothering him. 

Future episodes will examine the politics of immigration and the persistence of inequality. But the first episode in this new series will explore a topic especially near and dear to Mark: inflation. Specifically, the stories we tell about what causes inflation, how those stories affect our efforts to curb it, and who wins and loses depending on which stories our leaders believe. 

In the first half of this episode, Mark talks with economist Nicolò Fraccaroli about a book he and Mark wrote called “Inflation: A Guide for Users and Losers” (coming out in Spring 2025). 

In the second half, Mark talks with economist Claudia Sahm about the history of inflation, the role central banks play in it, and what’s lost when we try to take politics and politicians out of the inflation debate. 

(One thing to note: both of these conversations were recorded before the election, but the ideas explored in these conversations are just as relevant now as ever.)

Guests on this episode:

• Nicolò Fraccaroli is an economist at the World Bank
• Claudia Sahm is Chief Economist for New Century Advisors and former Section Chief at the Federal Reserve’s Board of Governors

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Remember the supply chain problems of 2020 and 2021? The story we were told was that the COVID-19 pandemic disrupted the global economy's ability to make and transport goods of every type imaginable: Surgical masks. Car parts. Infant formula. 

But as New York Times' global economic correspondent Peter Goodman explains in his new book, “How the World Ran Out of Everything: Inside the Global Supply Chain,” the story is more complicated than that. 

On this episode, Goodman and Mark Blyth discuss how, over decades, consulting firms and shareholders built a system that drove up profits but imperiled our economy, ultimately making COVID-related supply shocks (and the inflation that followed) much worse than they needed to be. Furthermore, if Goodman is right, it’s only a matter of time before we risk running out of everything again.

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When it comes to governing our economy, estimates rule the day. We want to know what effect a policy might have on the government’s budget, on economic growth, on employment…in the next 1 year, 5 years, 10 years…you get the idea. If you want to make (or critique) public policy, you better have numbers to back it up. 

To get those types of estimates, economists and politicians often rely on institutions like the Office for Budget Responsibility in the UK, or the Congressional Budget Office in the United States. As a result, their estimates and fiscal projections form crucial data points in our modern politics and policymaking. 

We like to think that these estimates and projections (not to mention, the people who make them) come from somewhere outside of our partisan politics. That while our values might be debatable, the numbers, at least, aren’t.

But, as Mark Blyth’s guest on this episode explains: that idea is a fantasy, and to the extent it obscures the values and politics that are baked into organizations like the Office of Budget Responsibility, it’s a dangerous one. 

On this episode, Mark Blyth talks with Ben Clift, author of “The Office for Budget Responsibility and the Politics of Technocratic Economic Governance.” In it, he pulls back the curtain on Britain's Office for Budget Responsibility, and reveals the hidden processes and ideologies that shape the estimates and projections that come out of it. In doing so, he shows how the OBR – and other institutions like it – are much more political than they appear. 

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When you think of high-end luxury commodities, you might imagine yachts, private jets, or even whole islands. But in the last few years, another commodity has started to receive a lot of attention from the world’s wealthiest people: citizenship. 

With enough money, people can buy their way into becoming a citizen of a growing list of countries around the world. While this trend has garnered lots of attention in the last few years, as our guest on this episode explains, there’s so much more to the story than meets the eye. 

Kristin Surak is a sociologist and author of the new book “The Golden Passport: Global Mobility for Millionaires.” In it, she pulls back the curtain on this rarified luxury market — who’s buying, who’s selling, and the complex web of middlemen that make it all work. 

On this episode, Mark Blyth talks with Surak about what might be called the “citizenship industrial complex”’ and what it says about our global economy. 

• Learn more about and purchase “The Golden Passport: Global Mobility for Millionaires”
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Listeners of the Rhodes Center Podcast have probably heard of companies like Black Rock, State Street and Vanguard. You’ve also probably heard how, through ETFs and other investment products, these types of investment firms own a staggering share of the world’s biggest companies (20-25% of the S&P 500 by some estimates). 

But in this episode, you’ll hear about a whole other side of asset management; one that’s more opaque, and possibly much more influential (and corrosive) to our daily lives.  

Brett Christophers is a geographer and professor at Uppsala University’s Institute for Housing and Urban Research, and author of the new book “Our Lives in Their Portfolios: Why Asset Managers Own the World.” In it, he explains how asset management companies like Blackstone and Macquarie Asset Management do more than passively own shares. Over the last few decades, they've begun to invest in and actively run a growing portion of our infrastructure and essential services: hospitals, care homes, water treatment plants, bridges and even parking meters. 

On this episode, he talks with Mark Blyth about the economics of this new subspecies of asset management, and how they’ve begun to reshape our society, economy and planet in ways we don’t fully understand. 

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On this podcast, you’ve heard from a range of experts about the policies and politics of decarbonization. But what does the fight against climate change look like from the business side?

Sophie Purdom is the Founder and Managing Partner of Planeteer Capital, a venture capital fund that invests in early-stage climate technology companies. She also writes Climate Tech VC, an industry newsletter that goes deep into the business side of the green transition. 

On this episode, Sophie Purdom talks with a special guest host for the Rhodes Center Podcast, political scientist and director of the Watson Institute’s Climate Solutions Lab Jeff Colgan. They talk about the world of “climate tech,” as it’s known in the startup community, how the industry started, where it’s going, and what it can teach us about the relationship between private enterprise and the global fight against climate change.

Learn more about and subscribe to Sophie Purdom’s newsletter, Climate Tech VC

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In 2015, economists Anne Case and Angus Deaton published a paper that revealed something startling: an increase in mortality rates in the United States among white middle-aged men and women between the years of 1999 and 2013. 

They published a book in 2020 that aimed to explain the trend, which they attributed to — among other factors — economic stagnation, social isolation, and the opioid crisis. The book, titled “Deaths of Despair and the Future of Capitalism,”, caused a stir inside and outside the field of economics, as people tried to make sense of America’s economy and society in the Trump years. 

On this episode, Rhodes Center Director Mark Blyth talks with Deaton about his newest book “Economics in America: An Immigrant Economist Explores the Land of Inequality,” which takes a broader view of the issues brought up in “Deaths of Despair.” They explore the pervasiveness of inequality in America, how it relates to the “deaths of despair” phenomenon, and why the field of economics often seems blind to the most pressing issues facing individuals and communities.

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This is part three in our companion series to the book “Diminishing Returns: The New Politics of Growth and Stagnation” (co-edited by Mark Blyth, Lucio Baccaro and Jonas Pontusson). 

On this episode, Mark talks with four contributors for the book: Alex Reisenbichler, Aidan Regan, Oddný Helgadóttir, and Jonas Nahm. They look at case studies in a handful of countries, as well as some of the cross-cutting trends affecting all growth models across the world. They explore the role of finance and politics in growth models, and how the climate crisis is making us rethink this all even further. 

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Listen to part one of this series

Listen to part two of this series

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This is part two in our companion series to the book “Diminishing Returns: The New Politics of Growth and Stagnation” (co-edited by Mark Blyth, Lucio Baccaro and Jonas Pontusson). 

In part one (which, if you haven’t listened to, we’d recommend you go back and do), Mark and his guests discussed how growth models are almost like the business model for a country. But of course, countries don’t exist in isolation. They can rise and fall together, and operate as regional economies tied into wider global networks. 

So…what do growth models look like at scale? How should we even think about them? 

To explore this concept, Mark spoke with two contributors to the book. Jazmin Sierra is an assistant professor of political science at Notre Dame, whose work focuses on the political economy of Latin America. Alison Johnston is an associate professor of political science at Oregon State University, whose work focuses on the European Union. 

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Listen to part one of this series

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