Ones and Tooze

Latest Episodes:

Gridlock in the U.S. Housing Market Oct 02, 2026

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The housing market in the United States is in gridlock these days, largely because of high interest rates. The average 30-year fixed mortgage rate is now above 7 percent, making it difficult for would-be first-time buyers to get into the market. Adam and Cameron discuss the broader implications for the U.S. economy.

Also on the show: Brazil’s presidential election

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Francis Fukuyama Sep 25, 2026

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Adam and Cameron discuss the newly released memoir of Francis Fukuyama, the American political scientist whose influential paper in 1989—which was later expanded into a book—posited that liberal democracy had won the world's ideological battle. The thesis was heralded as prescient when the Berlin wall fell a short time later but has been subjected to much criticism over the years. In the memoir, In the Realm of the Last Man, Fukuyama sets out to account for events that have transpired since 1989.

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AI Regulation Sep 18, 2026

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The head of Anthropic last week called on the U.S. government to regulate AI companies to avoid catastrophic outcomes. But, as Adam and Cameron point out, the conversation itself raises broader questions about the structure of the AI marketplace, the efficacy of existing liability laws, and the very nature of capitalism.

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Germany’s AFD Sep 11, 2026

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The far-right Alternative for Germany’s recent landslide victory in a small state in eastern Germany is part of a broader political story unfolding across Europe. It is also—and perhaps primarily—an economic story.

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Back to School Sep 04, 2026

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Nearly 1.5 billion children will attend primary or secondary school around the world this year—about 1 in 6 people on the planet. Adam and Cameron discuss the economics around sending children to school.

Also on the show: The economics of Lichtenstein.

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What's Up With the U.S. Bond Market? Aug 28, 2026

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The yield on 30-year U.S. Treasury bonds has been spiking lately, at one point reaching its highest level in some two decades. That means that the government is paying more to borrow—as government debt officially passed the $40 trillion mark this week. Adam and Cameron discuss.

Also on the show: Adam returns from the Venice Biennale.

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Germany's Rhine Is Drying Up Aug 21, 2026

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Germany's longest river is drying up, with water levels reaching as low as 8 inches in some spots—the lowest reading since Germany started keeping records almost 150 years ago. Adam and Cameron discuss the economic impact, including shipping disruptions and supply chain problems.

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Unemployment Crisis in India Aug 14, 2026

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India is facing an unemployment crisis among young college graduates—some 40 percent of whom are struggling to find work. Adam and Cameron discuss the implications for India and the potential impact of the Cockroach Janta Party movement.

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Super Yachts Aug 07, 2026

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On this episode, Adam and Cameron discuss the economics of super yachts—a global industry worth up to $22 billion.

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The Odyssey Jul 31, 2026

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The poem written some 2,700 years ago and the contemporary film directed by Christopher Nolan are the topic of this week’s show. Adam and Cameron discuss the economic and philosophical underpinnings of the story.

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