ADAM TOOZE

Amidst all of the debate around Christopher Nolan’s Oppenheimer, I was shaken this week by a typically salutary thread by Alan Allport on the anniversary of another bombing. Eighty years ago, in a ten-day joint operation, American

America is about to pass the biggest peacetime military budget of any nation in history. And yet, as the excellent Van Jackson (@WonkVJ) notes, American militarism is not in a happy place. “It is wild

Speak to anyone with close connections to China and one of the main topics of conversation, if not the main topic, is the double challenge of finding well-paid jobs and the outlook for real estate. Wealth accumulation

In the US inflation debate that has been on-going since 2021, there were three broad positions: hard landing, soft landing and team transitory. In light of the most recent numbers, with both inflation and unemployment

How do you manage the costs of security? Hard enough at any time to put a figure on it. The implications are even more daunting when a country like Ukraine is fighting for its survival. Subscribe

As Treasury Secretary Janet Yellen’s plane touched down in Beijing, it was greeted by a rainbow.  Yellen’s visit is the latest round of diplomacy through which the Biden administration and Beijing are seeking to manage

What happened this time last week in Russia?  As Robert Armstrong observed it went by so fast that markets hardly had time to react. One could infer that Russia doesn’t matter that much. As Armstrong argued that

We are entering the second serious phase of inflation politics.  The first was the decision in 2022 to raise rates sharply to counter a mounting clamor about delay and misdiagnosis. Central banks pushed through this

I had the pleasure this week of talking inflation with a bunch of folks on Maybrit Ilner’s high-profile talk show on German public TV (ZDF).  Germany’s big talk shows – Maybrit Illner, Markus Lanz, Anne Will, Sandra

What is the IRA? Is it a game-changing new industrial policy? Or is it the old wine of neoliberal de-risking in new bottles, in which the state stands ready to socialize the losses whilst capital

Now you see it. Now you don’t. Thinking about the Biden administration’s new industrial policy I am trying to square two realities in my head. On the one hand the infrastructure, CHIPs and Inflation Reduction

The climate crisis is often discussed as a global problem which requires a collective mobilization of humanity. This can be inspiring. Against the backdrop of the fraught geopolitics of today, it can even be comforting