• Economics

December 29, 2024, 6:00 AM View Comments ()

When FP’s Cameron Abadi suggested hosting an economics podcast with columnist Adam Tooze nearly four years ago, our first instinct was to keep it simple. To get a broad audience, we thought that Adam and Cameron would have to choose basic topics, make the economics easy to understand, and define for listeners even rudimentary terms such as gross domestic product.

We were wrong about that. Their podcast, Ones and Tooze, has thrived for more than 170 episodes by tackling some of the weightiest issues in economics—including China’s stimulus efforts and lessons from Germany’s Weimar Republic—alongside occasional lighter segments. The show’s country reports—on the economies of Russia, Iran, South Africa, Sweden, and many other nations—have been especially popular.

In one recent live show that Adam and Cameron recorded in Washington, D.C., audience members seemed particularly animated by a discussion on the Draghi report—an economic assessment of the European Union’s future that was written by Italian Finance Minister Mario Draghi. There’s nothing rudimentary about the Draghi report.

Cameron is Adam’s longtime editor, which is why the two have such a nice rapport on the mic. Here are five of our favorite Ones and Tooze episodes of 2024.

1. A Year to the War in Gaza

Ones and Tooze, Episode 159

The destruction that Israel has wrought on Gaza over the past 14 months has few precedents in recent history. Adam and Cameron discuss the economic impact for Palestinians and the kind of international effort that it would take to rebuild Gaza. They also talk about the war’s effects on other countries in the region, including Israel and Lebanon. Read the transcript

2. The Macroeconomic Effects of Beyoncé

Ones and Tooze, Episode 139

As of this year, there are more than 3 million podcasts in the world—but we’re pretty sure that not a single other one has ever referenced Beyoncé Knowles-Carter and Immanuel Kant in the same episode. Adam and Cameron discuss the economic impacts of Beyoncé’s commercial success, including a macroeconomic phenomenon in Sweden known as the “Beyoncé bump.”

That segment is followed by one on Kant’s 300th birthday. The 18th-century German philosopher is mainly associated with questions about ethics, but Adam and Cameron also discuss what Kantian economics would look like. Read the transcript

3. The Olympics by Numbers

Ones and Tooze, Episode 150

Countries compete to host the Olympics, then spend billions on new facilities, infrastructure, security, and promotion. Is it worth it? In this episode, Adam and Cameron discuss the economics of the Olympics. They try to understand why countries are willing to take huge financial losses to host the Games—and why athletes take similar risks to participate. Read the transcript

4. Biden’s Economic Legacy

Ones and Tooze, Episode 149

U.S. President Joe Biden assumed office in the middle of the COVID-19 pandemic. Economically, the United States emerged relatively well from the crisis. Can Biden take the credit? Adam and Cameron discuss that question and others, including the legacy of the Inflation Reduction Act, the most significant environmental legislation in U.S. history. Read the transcript

5. What’s Wrong With Tesla

Ones and Tooze, Episode 138

After Elon Musk’s success in helping Donald Trump get elected as U.S. president, it’s easy to forget what a rough time Musk’s electric car company had this year. Over a period of several months, Tesla’s share price dropped dramatically, and the company laid off thousands of employees—about 10 percent of its global workforce. In this episode, Adam and Cameron discuss what’s ailing Tesla and why Chinese electric vehicle companies are doing better. Read the transcript