Ones and Tooze

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The Economics of Andy Burnham Jul 24, 2026

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Britain’s new prime minister, Andy Burnham, calls his economic philosophy “Manchesterism,” after the city he led as mayor. But the term has meant different things since it was coined in the 19th century. Adam and Cameron dig in.

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Spain vs. Argentina Jul 17, 2026

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This year's FIFA Men's World Cup final pits Spain against Argentina, two countries with a former colonial relationship and complicated social and economic ties. Adam and Cameron trace the relationship's history.

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The AI Arms Race Jul 10, 2026

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Private investment in artificial intelligence in 2025 reached nearly $300 billion and is likely to grow this year. The companies making those investments include Microsoft, Google, Amazon, and Meta. Who’s winning the AI arms race, and what does it mean for the economy—and for humanity?

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When in the Course of Human Events Jul 02, 2026

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The Declaration of Independence, which founded the United States as an independent nation, was written in 1776—the same year that Adam Smith published The Wealth of Nations, the most prominent early treatise on international capitalism. Whether that represents a coincidence remains an ongoing debate. What’s clear, however, is that over the past two and a half centuries, the United States emerged as a slave economy, a free labor economy, a debtor nation, a creditor nation, and ultimately a powerful empire. Adam and Cameron discuss.

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Summer Davos Jun 26, 2026

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Adam and Cameron recorded this episode from Dalian, China, where they’re attending the World Economic Forum’s 17th Annual Meeting of the New Champions, known as “Summer Davos.” They discuss the economy of China.

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Two Topics: Brexit and D-Day Jun 19, 2026

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As the 10th anniversary of the Brexit referendum approaches, Adam and Cameron discuss the impact on the British economy.

Also on the show: The Allied invasion of Normandy.

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Live From Berlin Jun 12, 2026

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Germany is considering a package of reforms to reduce its welfare state and make the economy more productive. This would include changes to labor laws, welfare payments to the unemployed, and the retirement age. In this live show in Berlin, Adam and Cameron discuss the potential reforms and also the Tempelhofer Feld, a huge park in Berlin where some Germans now want to build apartments to address the city’s housing crisis.

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Is Europe Falling Behind? Jun 05, 2026

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Real disposal income has grown in the United States much faster than in Europe since the beginning of the century. Does that mean European economies are falling behind? It’s a debate some prominent economists are having lately, including Nobel winners Paul Krugman and Philippe Aghion. Adam and Cameron discuss.

Also on the show: The economics of Morocco.

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The Postwar Iranian Economy May 29, 2026

Show notes

A long-term truce deal between the United States and Iran would likely include some sanctions relief in exchange for the opening of the Strait of Hormuz. Adam and Cameron discuss where that would leave Iran and how the war has changed some core economic positions in the region.

Also on the show: the economics of bodybuilding.

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Taiwan May 22, 2026

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Taiwan runs a huge trade surplus, which is partly due to its chip manufacturing industry. Adam and Cameron discuss how the surplus affects Taiwan and other issues related to its economy.

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