Rentierism, Welfare Trade-offs, and Industrial Strategy

Following his threat to destroy “a whole civilisation” if his demands to Iran were not met, Donald Trump has now declared complete victory, with Iran and the US entering a 2-week ceasefire.

Plus: Esfandyar Batmanghelidj weighs in on whether that ceasefire can hold, and Aaron explains how China could come out on top from the war on Iran.

With Michael Walker & Aaron Bastani.