Even after their role in the global financial crisis, globalised, minimally regulated financial markets are still regarded as inevitable and, on balance, good for us. Maurice Obstfeld of Berkeley tells Tim Phillips about the short but action-packed history of financial globalisation and asks whether we should be rethinking this aspect of capitalism too.

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42: Rethinking financial globalisation

Robots and offshoring are blamed for destroying manufacturing jobs in advanced economies. But could automation also be a way to make domestic manufacturing more competitive? If so, those outsourced jobs may return. Alessandra Bonfiglioli tells Tim Phillips why there may be reasons to welcome our new robot overlords.

41: The robots are reshoring!

There is often an urgent need for humanitarian assistance in low-income countries. But how can it be targeted efficiently and quickly? Joshua Blumenstock tells Tim Phillips how, in Togo, a combination of machine learning and mobile phone data dramatically increased the effectiveness of Covid assistance.

40: Using AI to target aid in Togo

If you want your startup to be funded, everybody knows you have to dial up the energy and enthusiasm when you meet investors to the maximum. But is this really good advice for startups, and is a passionate pitch really a reliable signal for an investor? Song Ma of Yale School of Management used machine learning to evaluate thousands of pitches. He tells Tim Phillips whether passionate entrepreneurs make better startups. 

39: Pitching with passion

In March 2020 we all assumed there would be some reaction to Covid-19 on Wall Street but, when markets did the opposite of what most people expected, the Fed had to step in to stabilise the economy. Anil Kashyap and Kathryn Judge tell Tim Phillips what happened, why, and how to stop it happening again.

38: The flight from quality

Earlier in 2021 Peter Neary passed away. This special episode pays tribute to his work and examines why Peter was held in such affection by his colleagues. With contributions from Patrick Honohan, Richard Portes, Monika Mrázová, Beata Javorcik, and Abi Adams-Prassl.

37: Remembering Peter Neary

How many lives could be saved if rich countries shared their vaccines? Less than 2% of people in low-income countries have received even one dose. Mehdi Benatiya Andaloussi tells Tim Phillips about his calculation of how many lives would be saved by the end of 2021 if vaccines were shared more fairly - and how many have been lost because this hasn't happened so far. 

36: Share vaccines, save lives

The records of London's Foundling Hospital provide centuries of information on children's health. Eric Schneider tells Tim Phillips how he used this data to discover surprising information about the link between nutrition and common childhood illnesses.

35: Does malnutrition cause disease?

In 1932, Hitler and his followers believed that marching through the streets of Hamburg in uniform would convince its citizens to vote him into power. But did the flags, songs and stomping boots actually persuade people? Hans-Joachim Voth tells Tim Phillips how polling data (and the spread of a pandemic) reveal whether this type of propaganda actually worked.

34: Propaganda, persuasion, and the Nazis

In the scramble for PPE in early 2020, prices spiked, supplies dried up, and doctors were forced to use garbage bags for protection. A year on, Chad Bown has examined what happened, and he tells Tim Phillips how we can avoid a repeat.

33: The PPE panic of 2020

Remember when your local newspaper was filled with classified advertising? Once, three-line ads for lonely hearts and used cars for sale were a guaranteed source of revenue. Then Craigslist replaced classifieds in the US, and the result, Ruben Durante tells Tim Phillips, has been less political reporting and more partisan polarisation. 

32: How Craigslist killed local news

Jonathan Ostry of the IMF has investigated a century of pandemics and discovered that not only do they make our societies less equal, but they lead to a K-shaped recovery. He tells Tim Phillips that, unlike other crises, pandemics open a permanent gap between winners and losers. Ungated paper at https://cepr.online/DP16122 

31: Covid's effect on inequality

Imran Rasul tells Tim Phillips about new research that shows the fraction of published economics research devoted to the causes and consequences of racial inequality is much smaller than in political science or sociology - and that this inequality has been getting worse.

30: Does economics do enough race-related research?

People everywhere sometimes pretend to be sick on a Friday because a day off work means a three-day weekend. In Italy, sick workers may now get a surprise home visit from the doctor. Tito Boeri tells Tim Phillips how effective this has been as a cure for "Friday morning fever".

29: A cure for Friday morning fever

If some kids lie a little, and some lie a lot, is that just the way they are, or can we increase a child’s honesty in day-to-day life? Johannes Abeler tells Tim Phillips about how mentors can create lasting behaviour change. The paper discussed is: Abeler, J, Falk, A and Kosse, F. 2021. 'Malleability of preferences for honesty'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=16164 

28: What makes children lie?

Learn about groundbreaking new research, commentary and policy ideas from the world's leading economists. Presented by Tim Phillips.

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