Foreign Policy

Ones & Tooze: Why Low Unemployment Isn’t Better News

May 13, 2022

The U.S. unemployment rate is 3.6 percent, the lowest it’s been since the pandemic began in March 2020. So why aren’t we celebrating that? Adam

Ones & Tooze: Why the U.S. Stock Market is Tanking

May 6, 2022

The U.S. stock market has dropped more in recent days than any other period since March 2020, the beginning of the pandemic. Adam and Cameron

Ones & Tooze Bonus: Why is May Day so Violent in Berlin?

April 30, 2022

This wonderful, nearly ten minute tangent did not quite make its way into our latest episode. But we thought many of you would appreciate Cameron

Ones & Tooze: How The Labor Movement Got Its Day

April 29, 2022

In this episode of Cameron and Adam look ahead to the upcoming May Day celebration and discuss the roots of this holiday as well as

Ones & Tooze: Who Wins and Who Loses With Inflation

April 22, 2022

In this episode Cameron and Adam discuss how inflation is having an impact on wide swaths of the US economy and what tools are available

Ones & Tooze: Why the American Tax System is Such a Mess

April 15, 2022

On paper, at least, the American tax code is one of the most progressive in the world. In reality, it’s deeply unfair and inefficient. On

Ones & Tooze: The Fall and Rise of the Russian Ruble

April 8, 2022

Western sanctions on Russia after its invasion of Ukraine quickly led the Ruble to lose more than 45 percent of its value. But these days,

Ukraine’s War Has Already Changed the World’s Economy

April 5, 2022

Global economics will never be the same—but not in the ways you might think. For NATO and the West’s relations with Moscow, Russian President Vladimir

Ones & Tooze: The French Election

April 1, 2022

The first round of the French presidential election is coming up on April 10. On the latest episode of Ones and Tooze, Adam and Cameron

Ones & Tooze: The Economics Behind Mariupol

March 25, 2022

More than 100,000 people currently want to evacuate the besieged city of Mariupol in Ukraine. On this episode of Ones and Tooze, Adam Tooze and

Ones & Tooze: The Collapse of China’s Zero-COVID Policy

March 18, 2022

More than 50 million people are living under lockdown restrictions in China amid a dramatic surge of COVID cases. Adam and Cameron discuss the potential

Ones & Tooze: How Rising Oil Prices Will Change the World as We Know It

March 11, 2022

As the war in Ukraine entered its third week, the price of a barrel of oil peaked at $130, its highest since 2008. The pain

Ones & Tooze: The War on Russia’s Economy

March 4, 2022

On this episode, Adam and Cameron discuss the sanctions Europe and the United States have imposed on Russia’s economy in response to its invasion of

Ones & Tooze: How Biden’s Sanctions Against Russia Fall Short

February 25, 2022

download(size: 29 MB ) On this episode, Cameron and Adam discuss the sanctions President Biden has imposed on Moscow over its invasion of Ukraine and

Ones & Tooze: Could a Group of Truckers Actually Hurt the Canadian Economy?

February 18, 2022

download(size: 45 MB ) Adam and Cameron take a closer look at the economics of the Canadian trucker protest to see how much damage one

Ones & Tooze: Is the U.S. Economy Really Booming?

February 11, 2022

The U.S. economy grew close to 6% in 2021, the strongest year in nearly four decades. On this episode of Ones and Tooze, Adam Tooze

Mario Draghi Doesn’t Have ‘Whatever It Takes’ Anymore

January 14, 2022

Whether as Italy’s prime minister or its president, he may not have the solution to Italy’s problems. On Jan. 24, Italy’s parliamentarians and a caucus

Fossil Fuel’s Downfall Could Be America’s Too

December 3, 2021

How U.S. polluters might drag the country’s economy down with them. The United Nations climate change conference (known as COP26) in Glasgow, Scotland, was billed

The Post-Merkel Return of German Ideologies

September 17, 2021

After years of consensus, a new era of division is set to roil German politics at home and abroad. In what may prove to be

Don’t Abandon Afghanistan’s Economy Too

August 27, 2021

As the chances of evacuation dwindle, the West owes Afghans a chance at surviving in their own country. As Western powers pull out of Afghanistan,

Can Elites Start the Climate Revolution?

June 3, 2021

Financial capital and the courts are quietly creating the conditions to stop global warming—if politics does its part, too. Will the spring of 2021 prove

Janet Yellen and Mario Draghi Have One Last Job

April 2, 2021

The U.S. treasury secretary and the Italian prime minister have spent decades shaping this economy. But can they control what comes next? In recent years,

Biden’s Stimulus Is the Dawn of a New Economic Era

March 5, 2021

The United States’ massive relief package is more than a technocratic policy. It’s a democratic triumph. There is a lot of debate right now about

The Rise and Fall and Rise (and Fall) of the U.S. Financial Empire

January 15, 2021

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

The West’s Constitutional Crises Threaten the Economy’s Last Best Hope

November 21, 2020

Central banks have kept their economies afloat this year—but political dysfunction is pushing them past the breaking point. In the looking-glass moment of November 2020

America’s Economy Is Fragile. So Is Biden’s Economic Team.

November 9, 2020

As the transition to the next administration under Joe Biden begins, several lists of potential economics team members are already in circulation. Longtime Biden advisors

Welcome to the Worst Election Outcome for the Global Economy

November 4, 2020

As of early morning, Nov. 4, the presidential betting market is back where it was 24 hours ago. As was true before the polls closed

The Markets Want Much More Than Just a Biden Win

November 3, 2020

As we await the outcome of the U.S. election, the world economy drifts listlessly, paralyzed by the shock of COVID-19 and geopolitical and political uncertainty.

Welcome to the Final Battle for the Climate

October 17, 2020

The great powers have taken big steps to fight global warming. Now attention turns to the rest of the world. China’s unilateral commitment to carbon

How Xi Just Saved the World 

September 25, 2020

In a little-noticed speech this week, China permanently changed the global fight against climate change. China will scale up its Intended Nationally Determined Contributions by

The World Is Winning—and Losing—the Vaccine Race

September 19, 2020

Immunization to COVID-19 is supposed to solve our problems—but it’s starting to trigger even bigger ones. Faced with a pandemic that paralyzed the world, a

It’s a New Europe—if You Can Keep It

August 7, 2020

“This summer, Europe is basking in a sense of accomplishment. On July 21, after protracted labor, the European Union announced the birth of a historic

The Sociologist Who Could Save Us From Coronavirus

August 1, 2020

We all know the Chernobyl script. A badly designed reactor suffered a meltdown. The decrepit Soviet regime tried to hide the disaster. Millions of citizens

The Death of the Central Bank Myth

May 13, 2020

In Europe, a ruling by the German Constitutional Court that the European Central Bank (ECB) failed to adequately justify a program of asset purchases it

We Remember World War II Wrong

May 7, 2020

One of the casualties of the COVID-19 pandemic is the great Victory Day parade that had been planned for Moscow’s Red Square for May 9.

The Coronavirus Oil Shock Is Just Getting Started (with N. Mulder)

April 23, 2020

The idea of a negative price for any commodity is outlandish, implying the seller is prepared to pay a buyer. But for oil, the largest

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