Europe’s ‘long-Covid’ economic frailty
Last year’s agreement on an EU recovery package was widely celebrated. This year its inadequacy will sink in. The attention of the European public is with good reason focused on the pandemic and the need to accelerate the rollout of the vaccines. But other risks lurk ahead. Since last summer a bubble of complacency has surrounded the European Union’s recovery package and the vision it holds out of a greener future. Europe’s constructive response to the crisis contrasts pleasingly with the dark political drama played out on the other side of the Atlantic. But 2021 may bring disillusionment, as the frailty of Europe’s economic position is once again exposed. The achievements of the EU in responding to the social and economic fallout from the crisis are real. In 2020, thanks to intervention by the European Central Bank, it avoided a return to a sovereign-debt crisis.
The Rise and Fall and Rise (and Fall) of the U.S. Financial Empire
The dollar is dead. Long live the dollar. If 2020 confirmed one thing, it was the centrality of the dollar to the global economy. U.S. hegemony may already have passed us in a political and strategic sense, but U.S. financial influence is proving more enduring. This is reassuring in the sense that the U.S. Federal Reserve has once again acted as a responsive and generous steward of the dollar-based financial system. But it is also a cause of puzzlement and frustration. While China and Russia experiment with alternatives to the dollar-based payment system, in Europe the buzzword of the day is “strategic autonomy.” Given the increasing aggression of Washington’s financial sanctions, compounded by the capriciousness of the presidency of Donald Trump, this is hardly surprising. It is an obvious reaction to the weaponization of interdependence. It is far from obvious to critics that dollar hegemony is an unalloyed blessing.
After Escape: The New Climate Power Politics
The vista painted for us by Bruno Latour, Eva Lin, and Martin Guinard in their concept for the Taipei Biennial 2020 is alarming: “We are witnessing a massive extension of conflicts and an extreme brutalization of politics. The ‘international order’ is being systematically dismantled … We lack a common world.” The divisions are so deep that we can no longer even define peace and war. “It is crucially important to explore alternative modes of encounter … to avoid destruction,” yet we cannot do so on the assumption of an overarching authority, which is precisely what no longer exists. “The present imperative is not simply to foster a discussion among a multiplicity of perspectives, since this would inevitably fall back to older models of universalism” in a vain attempt to reconcile “multiple visions of the same natural world. The aim … is to explore alternative procedures
Adam Tooze on Wages of Destruction and the Nazi economy
Prof. Adam Tooze ist spätestens seit seinem Bestseller “Crashed. Wie zehn Jahre Finanzkrise die Welt verändert haben” einer der bekanntesten Wirtschaftshistoriker der Welt. Im 10. Wfa-Spezial spricht er nun mit Ole Nymoen über das nationalsozialistische Wirtschaftssystem, das er in “Die Ökonomie der Zerstörung” präzise analysiert hat. Adam Tooze über die
Adam Tooze on the corona crisis and its impact on world economy
Böll.Thema – Welt im Umbruch – Adam Tooze im Gespräch Für das Magazin „Böll.Thema“ führte der Referent Internationale Politik der Heinrich-Böll-Stiftung, Jörg Haas, ein Gespräch mit dem Wirtschaftshistoriker Adam Tooze (Columbia University, New York). Im Zentrum des Gesprächs stehen die Umbrüche des Jahres 2020: Die Pandemie und ihre Folgen, die
Talk of a global economic reset must not ignore grim realities
Scientists may have provided us with a miraculous fix for Covid, but history shows that any path to recovery will be long. Read the full article at the Financial Times
V2: A Novel of World War II – A Lunchtime Conversation with Robert Harris and Adam Tooze
Go back in time to 1944 in Robert Harris’s thriller V2: A NOVEL OF WORLD WAR II. In partnership with Miami Book Fair.
Why the Coronavirus Pandemic Wasn’t a Black Swan Event — and Why We Must Prepare for More Outbreaks
Barron’s: What are the big investment opportunities coming out of this pandemic? Adam Tooze: The only thing we know, coming out of this, is the tech story: Without the marvels of the [tech] platforms, it’s unclear how we could have coped with this. The question is whether the power conveyed
Chartbook
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Look out for Adam’s next books, Shutdown: The Global Crises of 2020 coming to print in 2021, and Carbon, out in 2023.
Discussion with Wolfgang Schäuble
WEF 2020: Why Protests Are An Integral Part Of Democracy
GZERO World with Ian Bremmer – Is a 2nd Great Depression Coming?
The EU Response to the Covid Crisis: Preventing the Great Fragmentation
Das Biden-Team und das Schäuble-Trauma
Crashed to Corona 7: Responding to the global epidemic
Europe’s ‘long-Covid’ economic frailty
Last year’s agreement on an EU recovery package was widely celebrated. This year its inadequacy will sink in. The attention of the European public is
The Rise and Fall and Rise (and Fall) of the U.S. Financial Empire
The dollar is dead. Long live the dollar. If 2020 confirmed one thing, it was the centrality of the dollar to the global economy. U.S. hegemony may
After Escape: The New Climate Power Politics
The vista painted for us by Bruno Latour, Eva Lin, and Martin Guinard in their concept for the Taipei Biennial 2020 is alarming: “We are
Adam Tooze on Wages of Destruction and the Nazi economy
Prof. Adam Tooze ist spätestens seit seinem Bestseller “Crashed. Wie zehn Jahre Finanzkrise die Welt
Adam Tooze on the corona crisis and its impact on world economy
Böll.Thema – Welt im Umbruch – Adam Tooze im Gespräch Für das Magazin „Böll.Thema“ führte
Talk of a global economic reset must not ignore grim realities
Scientists may have provided us with a miraculous fix for Covid, but history shows that
Chartbook
Sign up below for Adam’s bi-weekly newsletter, which includes economic data, images, & stories that matter.
Look out for Adam’s next books, Shutdown: The Global Crises of 2020 coming to print in 2021, and Carbon, out in 2023.
Discussion with Wolfgang Schäuble
WEF 2020: Why Protests Are An Integral Part Of Democracy
GZERO World with Ian Bremmer – Is a 2nd Great Depression Coming?
The EU Response to the Covid Crisis: Preventing the Great Fragmentation
Das Biden-Team und das Schäuble-Trauma
Crashed to Corona 7: Responding to the global epidemic
"a majestic narrative tracing the prehistory and destructive path of the crisis across the planet"
– Yanis Varoufakis, The Guardian
“The prose is clear. The scholarship remarkable.”
– Martin Wolf, Financial Times
“But whatever happens next, Crashed is likely to stand the test of time as the best history of 2008 written in the decade afterwards.”
– Duncan Weldon, Resolution Group