Will Covid-19 reshape the global economy or simply shrink it? What are nations doing to protect jobs and businesses from the fallout, and what will the long-term consequences be for labor markets, global supply chains and government finances? On Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders—the former BBC economics editor and chief market strategist for Europe at JPMorgan Asset Management—we combine reports from Bloomberg journalists around the world and conversations with internationally respected experts on these and other issues to bring the global economy to life.
What’s Really Behind the Great 2021 Inflation Debate
It’s been a long time since anyone in America or Europe had to think seriously about inflation. But the highest U.S. numbers since 2009 have rattled financial markets and critics of President Joe Biden are warning that his big spending could trigger a full-blown 70s-style price spiral.
Bloomberg Senior Asia Economy Correspondent Enda Curran reports from Hong Kong on the price pressures facing Asian exporters, and how they’re affecting what consumers pay in American stores. Then host Stephanie Flanders talks to Jason Thomas, head of Global Research at the Carlyle Group, who says he believes that reopening the U.S. economy will help push inflation back down again—and that the long-term forces which have kept a lid on prices are still in place.
With U.S. gas stations across the Southeast running short of supply and drivers sitting in line to fill their tanks, you would have been forgiven for thinking the 70s had already returned. Though the Colonial Pipeline is now back up and running, Chief Energy Correspondent Javier Blas explains how a cyberattack on America’s biggest fuel conduit could do such damage, and why U.S. energy companies are scrambling to shore up their defenses.
Why the Rise of Mega-Companies May Damage the Global Economy
The world’s biggest businesses are massive, spanning countries and continents. Now they're getting even larger, and that may not be a good thing. In the past few decades alone, the largest 50 firms have tripled their profit. Amazon, Apple, Facebook, Microsoft and Google together make more money in a week than McDonald's makes in an entire year. On this week’s podcast, host Stephanie Flanders talks with Bloomberg’s Chief Economist Tom Orlik about what the rise of these mega-companies could mean for the global economy.
London School of Economics Professor Philippe Aghion joins Flanders to explain why the rise of big tech, once great for innovation and growth, is no longer. Aghion also discusses his plan for getting the very best out of capitalists. And French economy reporter William Horobin explains why the campaign to extract tax from the tech giants just got a lot more interesting.
Biden-Powell Duo’s Macro Policy Revolution
U.S. President Biden marked his 100th day in office this week with another massive spending package -- this one squarely aimed at taxing the rich to give money to everyone else. He’s proposed nearly $6 trillion dollars in new spending since taking office, much of which is to be paid for with higher tax revenues. Meanwhile, Federal Reserve policy makers are looking at this ocean of government spending, a booming stock market and rapidly recovering economy and have decided to leave interest rates at rock bottom and keep on buying up debt. Bloomberg White House reporter Nancy Cook and Federal Reserve reporter Rich Miller join host Stephanie Flanders to consider whether we really are seeing a revolution in U.S. economic policy under the man that Donald Trump used to call sleepy Joe.
Meanwhile, the unequal impact of Covid-19 continues to reverberate through the U.S. economy. Bloomberg Economy reporter Mike Sasso reports on how the pandemic is causing a retirement rush with some older Americans simply unable to find work, while others cash in on stock market gains to embrace life beyond the 9-5, and Senior Editor Alex Tanzi reveals some unexpected shifts in intergenerational inequality.
Covid Changed Work, But Will That Change Last Forever?
For many, the pandemic has altered where we work, how we work and when we work. But will that change be forever? Or will we wake up in a year and find we’re back to normal? It’s a vital question, because if work changes, the shape of the economy will change, too. Bloomberg’s Spanish Economy reporter Jeannette Neumann visited a quiet corner of northeast Spain to meet those who escaped the city and to find out just how sustainable their new lives really are.
Host Stephanie Flanders talks with Dublin Bureau Chief Dara Doyle about the Irish government’s attempts to persuade people to stay away from the office, and perhaps work from the local pub instead. She also speaks with Sven Smit, co-chair of the McKinsey Global Institute, on his view of work in the post-pandemic world. With 100 million developed market jobs at risk of being displaced, how should we respond? And if you have kids, what should your child’s reaction to home schooling tell us?
Landing on the Moon Is a Great Lesson for Modern Miracles
More than 50 years ago, the public and private sectors united to bring men to the moon and back. As the world begins to look at how it can recover from the Covid-19, what lessons can the original moonshot have for the modern challenges facing governments and industry today?
In this week’s episode, host Stephanie Flanders talks with Mariana Mazzucato, author and professor in Economics of Innovation and Public Value at University College London. Find out how similar partnerships could help solve intractable problems such as global warming and pandemics, why doing what sounds obvious simply isn’t happening and what she says U.S. President Joe Biden’s administration needs to know.
The Return of the V Shaped Recovery
Recent weeks have seen an outpouring of optimism about the economic recovery, especially in the U.S. The International Monetary Fund has added its voice to the chorus, predicting developed economies could not only enjoy rapid growth in the coming years but see little or no permanent damage from the sudden collapse in 2020. But is that rebound going to be felt everywhere? Stephanie Flanders talks with Bloomberg Chief Economist Tom Orlik about what's changed and his outlook for global growth.
Almost 100 days have elapsed since the chimes of Big Ben marked Brexit's formal implementation. U.K. economy reporter Lizzy Burden reports on the country’s messy post-divorce relationship with the European Union, and talks to some people who have been caught in the middle. Finally, Flanders speaks with U.S real estate reporter Alex Wittenberg about how the boom in online shopping could be the death knell for golf courses all across America.