In a reversal of roles, Nobel prize-winning economist Paul Krugman steps into host Soumaya Keynes shoes to quiz her and co-author Chad Bown about their new book "How to Win a Trade War", and the lessons it contains for surviving a global world order where traditional trade rules are being abandoned. They discuss the fragile domestic politics of a trade war, what the rest of the world can learn from China and reasons to be sort of cheerful about the future of global trade.

Further reading

No one wins a trade war. Or do they?

Why Europe must embrace tariffs

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Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Manuela Saragosa is the executive producer. Original music and sound design by Breen Turner.

Read a transcript of this episode on FT.com

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Africa is traditionally seen as a continent of immense resources, let down by poor governance and excessive violence. Joe Studwell disagrees. In his book, How Africa Works, Studwell flips those assumptions upside down, and argues that low population density, a brutal disease burden and "low-budget" colonialism have hampered the continent’s development. Now, Studwell says, Africa is in a position to follow the blueprint for rapid advancement set by some of Asia’s most impressive economies, such as China, Japan, Korea and Taiwan. Host Soumaya Keynes and Studwell discuss the policy mix African nations should follow, the problems with "leapfrog" development and how "keeping up with the Joneses" could drive continent-wide development.

Further Reading

African economies are more resilient than ever

Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.

Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Manuela Saragosa is the executive producer. Original music and sound design by Breen Turner.

Read a transcript of this episode on FT.com

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Economists like to think of their discipline as a rational science. But might we make better decisions if we ditched some of our moral aversions? Specifically: would we make better choices if we learned to conquer moral repugnance? Alvin Roth, Nobel laureate, and author of the recent book ‘Moral Economics’, tells host Soumaya Keynes why a free market in kidneys and surrogacy makes economic sense, and what he makes of prediction markets.

The inaugural FT Weekend Festival in New York City is fast approaching, with a line-up featuring Paul Krugman, Martin Wolf, Gillian Tett, and plenty more. Join on Saturday, June 20, at Spring Studios or online. Register now and as a podcast listener, save 10% using our code FTPODCAST.

Further reading

When is it OK for economists to experiment on people?

So you tried to buy a country . . .

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Read a transcript of this episode on FT.com

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Between the Iran war, high gas prices, and wobbly jobs numbers, central bankers have plenty to worry about. But some see a light on the horizon: artificial intelligence. AI could lead to abundant production and lower prices, allowing the Fed to lower interest rates, and boost the economy – or so the theory goes. But how will we know if AI is boosting productivity? And what happens if the AI advocates promising an economic transformation are wrong? Soumaya is joined by Austan Goolsbee, head of the Chicago Federal Reserve, to discuss these questions and more. Soumaya and Austan also analyse how Fed chair nominee, Kevin Warsh, might change the central bank; and how Austan feels about Jay Powell’s plans to stick around.

The inaugural FT Weekend Festival in New York City is fast approaching, with a line-up featuring Paul Krugman, Martin Wolf, Gillian Tett, and plenty more. Join on Saturday, June 20, at Spring Studios or online. Register now and as a podcast listener, save 10% using our code FTPODCAST.

Further reading:

AI boom poised to be ‘massively disinflationary’, Northern Trust says

US economy grows at 2% pace in first quarter as AI boom fuels investment

The real Greenspan lesson for Warsh on inflation

Produced by Mischa Frankl-Duval with original music from Breen Turner and sound design by Sam Giovinco. The senior producers are Edwin Lane and Michela Tindera. The FT head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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Typically, a society’s population remains stable if women have about 2.1 children each. By that metric, the word has a big problem. In developed countries the total fertility rate is well below that figure. So what are the economic consequences of that shortfall? Soumaya Keynes speaks to Melissa Kearney, a professor at the University of Notre Dame and the director of the Aspen Economic Strategy Group, which recently put out a series on the topic: Demographic Headwinds: The Economic Consequences of Lower Birth Rates and Longer Lives.They discuss why the fertility rate won’t reverse course any time soon — and what happens when the rest of the baby boomers retire.

Further reading:

Why are fertility rates collapsing? Gender roles

Could working from home solve the global fertility crisis?

Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.

Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Michela Tindera is the senior producer. Original music and sound design by Breen Turner. The FT head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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A few months ago, the oil market looked pretty serene. But the US-Iran war has upended global supplies and pushed energy security to the top of the policy agenda. Importers have realised they need to diversify their energy sources. What role will renewables have to play? And would a shift towards green energy just mean trading one bottleneck for another? Soumaya Keynes speaks to Daniel Yergin, vice-chair of S&P Global and author of the Pulitzer Prize-winning book ‘The Prize: The Epic Quest for Oil, Money, and Power'.

Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.

Further reading:

How to survive an energy crunch

Will the Iran war derail the energy transition?

Middle East war strengthens case for renewables, say clean energy experts

Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. The senior producer was Michela Tindera. Original music by Breen Turner. Sound design by Samantha Giovinco. The FT head of audio is Cheryl Brumley.

Join FT journalists and a special guest on Wednesday 20 May at 1200 GMT for a subscriber webinar on The Dollar under Trump: markets, monetary policy and the next Fed chair. Register at ft.com/trump-dollar and send us your questions

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The economist John Kenneth Galbraith once quipped that “there can be few fields of human endeavour in which history counts for so little as in the world of finance.”

This show sets out to prove the opposite.

Each week, FT columnist Gillian Tett and FT Alphaville editor Robin Wigglesworth dig into the ideas, personalities and institutions that have shaped global finance.

From unregulated banking in 19th-century frontier America to institutionalised debt jubilees in ancient Mesopotamia, and from the birth of credit derivatives to the great market meltdowns of the past, Robin and Gillian uncover the story of money because time and again, the same manias and mistakes resurface. Tune in and you might just understand where the next financial opportunities and disasters could be hiding.

Subscribe to The Story of Money wherever you get your podcasts and watch the show on YouTube.

Learn more about the show at ft.com/tsom and find out more about Gillian Tett here and Robin Wigglesworth here.

Follow FT Alphaville here.

Hosts: Gillian Tett and Robin Wigglesworth

Producer: Lulu Smyth

Senior Producer: Michela Tindera

Executive Producers: Flo Phillips and Manuela Saragosa

Original music and sound engineering: Breen Turner

Podcast Development: Laura Clarke

Global Head of Audio: Cheryl Brumley

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China runs an enormous trade surplus, much to the chagrin of some of its trading partners: cheap exports of cars, chemicals and other goods are hampering major economies, especially in Europe. But the Asian nation, the world’s largest exporter, is a net importer of oil. Could higher oil prices help redress global trade imbalances? Soumaya Keynes speaks to Brad Setser, senior fellow at the Council on Foreign Relations, to discuss how global trade imbalances have changed, why Beijing’s surplus may be bigger than it looks, and what European leaders should be doing about it.

Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.

Related reading

What's really shocking about the second China shock?

China shock 2.0: should Europe welcome Chinese investment?

Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval and Sonja Hutson. Edwin Lane is the senior producer. Original music and sound design by Breen Turner. The FT's head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.