VoxTalks Economics

Massimo Morelli, a Professor at Bocconi University and co-author of the influential paper 'Populism and War', dives into the effects of populism on global relations. He explains how populist leaders, like Donald Trump, can elevate the risk of conflict, particularly through policies that prioritize national interests over international cooperation. Morelli reveals intriguing insights into unexpected conflict hotspots, such as Ghana and South Africa, while shedding light on the complexities of trade wars and their socio-economic impacts.

How do men think they should behave? How important is it to dominate, to win, to control women, or to refuse help? How do views on this correlate to economic performance, to men’s physical and mental health, even to politics? Ralph De Haas and Victoria Baranov are two of the authors of research into what masculinity means around the world. They tell Tim Phillips about the surprising differences they discovered.

Bank branches are closing rapidly as banking activity migrates online. What are the consequences, for the public, for a bank’s business customers, or the wider economy? Niklas Amberg and Bo Becker tell Tim Phillips about the unintended consequences for Sweden’s small businesses – and economic activity – of removing face-to-face banking. 

José Scheinkman, an esteemed economist from Columbia University, discusses the economic consequences of deforestation and the urgent need for reforestation policies. He explores the alarming rates of deforestation in the Amazon and its impact on biodiversity, driven by unsustainable practices. Scheinkman emphasizes the importance of carbon credits in making reforestation economically viable and highlights the necessity for sustainable agriculture to aid conservation efforts. The conversation also touches on the ecological importance of preserving the Amazon and the challenges of applying economic insights globally.

Gilles Moec, AXA's Chief Economist, and Kathleen Schubert, a Professor at the Sorbonne, delve into the urgent need for financing the green transition. They discuss Europe's significant investment gap and emphasize the crucial role of the private sector in achieving net-zero targets. The conversation highlights the necessity for reliable carbon pricing and clear profitability metrics to attract investments. They also touch on navigating political volatility and the essential differences in sustainability reporting standards between Europe and the U.S.

Thierry Langreney, from the NGO Les Ateliers du Futur, and Mathieu Godard, Head of P&C at AXA France, discuss the complex interplay between climate change and the insurance industry. They explore the rising frequency of extreme weather events and the underinsurance crisis across Europe, where only a quarter of losses are covered. The duo highlights the need for mandatory insurance and solidarity among businesses. They also emphasize the importance of technology in risk assessment and envision sustainable practices for future resilience.

In the early hours of 2 September 1666, a spark in Thomas Farriner's bakery on Pudding Lane in the City of London ignited a blaze that would go on to consume 90% of the City’s houses. But how did economic activity and wealth rebound after the fire? Philipp Ager of the University of Mannheim and Paul Sharp of the University of Southern Denmark have used contemporary records to describe London’s uneven economic recovery. They tell Tim Phillips about the records they uncovered, and what they reveal about London’s economy before and after the fire.

Sena Coskun, an author and researcher at the University of Erlangen-Nuremberg, tackles the surprising issue of young, educated unemployment in Europe. She discusses how college graduates face higher unemployment rates compared to their high school graduate counterparts, particularly in southern Europe. Coskun delves into the disconnect between education and job availability, labor market frictions, and the impact of AI. She also highlights the long-term consequences of this crisis, including skill degradation and health issues, while proposing solutions to improve job matches.

In this insightful discussion, James Robinson, a University of Chicago professor and 2024 Nobel Prize co-winner, dives into the complexity of antisocial norms like the Colombian saying, "don’t be a toad." He explores how these norms, despite being disliked, persist in societies due to historical contexts such as La Violencia. Robinson also reveals the dynamics of altruism through economic games, shedding light on how personal beliefs clash with social expectations, and he discusses the critical need for institutional reform to challenge these ingrained behaviors.

Paul Novosad, a professor at Dartmouth College, and Sam Asher, a professor at Imperial College, dive into the backgrounds of Nobel Prize winners in science. They discuss how talent may be evenly distributed, but opportunity varies greatly based on socioeconomic factors. The conversation highlights the underrepresentation of women and the wealthy backgrounds of many laureates, emphasizing the need for equity in scientific fields. They advocate for initiatives to support gifted individuals from lower socioeconomic backgrounds, aiming for a more inclusive scientific community.