New Enlightenment

In this episode of The New Enlightenment, host Adam Dixon speaks with Josh Zoffer — former advisor in the Biden administration, venture capital investor, and non‑resident fellow at Columbia University’s Centre on Global Energy Policy — to examine one of the most pressing geopolitical and economic challenges of our time.Drawing on his experience shaping U.S. policy on supply chains, sanctions, climate tech and critical minerals, Josh offers a rare glimpse into the debates that could be happening in Washington today. The podcast covers:• China’s Industrial Strategy• China’s dominance in mineral refining capacity• How America can build industrial capacity• Why allies are America’s greatest strategic asset Key questions answered include:• Has U.S. economic policy toward China really changed as much as people     think?• How did China build dominance in EVs, batteries, and solar so quickly?• Why are critical minerals the next major battleground?• Is industrial policy compatible with Western market economies?• What role should U.S. allies play in shaping a new economic order?_________________⁠About Josh Zoffer: https://www.energypolicy.columbia.edu/josh-zoffer/⁠LinkedIn: https://www.linkedin.com/in/jzoffer/_________________⁠About Professor Adam Dixon : https://www.panmurehouse.org/programmes/adam-smith-chair/adam-smith-chair/⁠LinkedIn: https://www.linkedin.com/in/adam-dixon-04b28130/⁠⁠⁠X⁠⁠: https://x.com/DrAdam_Dixon

In this episode of the New Enlightenment podcast, Professor Adam Dixon is joined by Lee Jones, Professor of Political Economy and International Relations, to unpack China’s rise as a global power and the realities behind Western narratives about Chinese authoritarianism.They explore how China’s political system actually works, why the Chinese party state is not monolithic, and how internal economic and political tensions shape China’s global behaviour. The conversation examines the Belt and Road Initiative, US–China relations, and why China’s growing assertiveness is often a response to Western pressure.The episode also looks at the UK and EU’s alignment with US policy, the position of the global South, and what defines the emerging second Cold War – arguing that de-escalation will require a fundamental shift in Western attitudes toward China.Key takeways:• China’s power is contested, not monolithic• Belt and Road is decentralised and uneven• China reacts as much as it initiates• The new Cold War is structural, not ideological• Western narratives often miss China’s complexity_________________⁠Professor Lee Jones⁠: https://www.qmul.ac.uk/politics/staff...⁠LinkedIn:   / lee-jones-79120744  X: https://x.com/drleejonesFractured China: https://www.amazon.co.uk/Fractured-Ch..._________________⁠Professor Adam Dixon ⁠: https://www.panmurehouse.org/programm...⁠LinkedIn: https://www.linkedin.com/in/adam-dixo...⁠⁠⁠X⁠⁠: https://x.com/DrAdam_Dixon⁠⁠Book⁠⁠s: https://adam-dixon.com/books/#China #GlobalPower #ChinaPoliticalEconomy #USChinaRelations#Beltandroadinitiative #SecondColdWar #ChineseAuthoritarianism#ChinaForeignPolicy

With the use of AI on the rise, what does the future of Europe's digital future look like? In this conversation, Professor Adam Dixon and Professor Daniel Mügge explore the concept of digital sovereignty in Europe, particularly in the context of artificial intelligence and technology regulation. They discuss the implications of foreign tech dominance, the role of public authorities in shaping digital policies, and the balance between regulation and innovation. The conversation also touches on the responsibilities of parents in managing technology use among children, the potential of AI in healthcare, and the need for Europe to navigate its position in a global tech landscape dominated by the US and China. Ultimately, they advocate for a balanced approach that prioritises citizen engagement and collective self-determination in the digital age.Timestamps:00:00:00 Introduction to Digital Sovereignty03:16 Understanding Digital Sovereignty in Europe05:51 The Role of European Tech Companies08:33 Economic Arguments for European Tech Champions 11:09 Regulation vs. Innovation in Europe 13:44 The Nature of Innovation and Regulation 16:36 Balancing Regulation and Individual Responsibility 19:33 The Role of Parents in Regulating Technology 22:10 The Impact of Technology on Society 25:04 The Future of Digital Regulation29:54 Navigating Information in the Digital Age31:13 Regulatory Dynamics in Europe vs. the USA34:06 The Challenges of Regulating Rapid Technological Change37:50 Balancing Innovation and Regulation in Europe 43:05 The Precautionary Principle in Technological Development 47:37 Corporate vs. State Influence 51:30 Harnessing Big Tech for Public Good _________________Professor Daniel MüggeLinkedIn _________________Professor Adam Dixon ⁠LinkedIn⁠⁠X⁠ ⁠⁠Book⁠s #digitalsovereignty #adamsmith #professoradamdixon #podcast #china #artificialIntelligence #ai #EuropeanRegulation #technology #innovation #publicpolicy #techandethics #techcompanies #citizenengagement #dataprotection #dataprivacy #healthcaretechnology #techdynamics

EPISODE 38 | Why has technological progress slowed, even as AI promises to transform our world? In this episode of the New Enlightenment Podcast from Adam Smith’s Panmure House, host Adam Dixon sits down with Professor Carl Benedikt Frey—Oxford economist and author of How Progress Ends—to explore one of the most pressing questions of our time: why are new technologies no longer delivering the economic and societal gains they once did?Together, they examine:🔸 The paradox of innovation without growth🔸 The geopolitical race between the US and China 🔸The hidden bottlenecks in scientific discovery🔸 The ways AI may both accelerate and undermine learningChapters00:00 – Introduction: The Paradox of Progress02:36 – Defining Progress vs. Improvement05:45 – Technology, Well-Being, and Growth08:45 – AI’s Promise and Its Limits11:40 – Antimicrobial Resistance and Innovation Challenges14:18 – Bottlenecks in Scientific Discovery17:26 – AI, Learning, and Human Potential21:47 – Lessons from Historical Innovation Races24:17 – Could AI Slow Innovation?28:46 – Incentives and the Architecture of Progress34:28 – Work, Identity, and Human Worth36:25 – Geoeconomics and the Battle for Tech Dominance46:56 – Market Dynamism vs. State CapitalismDrawing on history, economics, and cutting-edge research, Frey argues that progress is never inevitable—it depends on the right institutions, incentives, and market dynamism.If you care about the future of productivity, prosperity, and human flourishing in the age of AI, you're going to want to listen to this episode._________________Professor Carl Benedikt FreyBook⁠X_________________⁠Professor Adam Dixon ⁠⁠Book⁠ ⁠X⁠⁠LinkedIn⁠

Can classical liberals learn something from Michel Foucault?It’s a question most proponents of free-market capitalism would never ask - but in this episode, Mark Pennington argues the answer is yes. Joined by Adam Dixon, Pennington dismantles the academic silos around Foucault and repositions the postmodern critic of power as a surprising ally in understanding the erosion of liberal society.They explore how Foucault’s work - usually mobilised to critique so-called neoliberalism - actually reveals how surveillance, managerialism, and technocratic control threaten the foundations of individual freedom. From public health mandates to ESG-driven policy, the conversation critiques the creeping illiberalism hiding behind progressive institutions and expert-led governance.Pennington doesn't rehabilitate Foucault so much as weaponise him - arguing that if classical liberals want to understand how power works today, they need to take Foucault seriously, not dismiss him as a postmodern relic._________________Mark PenningtonBook X _________________Adam Dixon BookXLinkedInWebsite

What’s driving China’s economic dominance — and what does it mean for the world? In this episode, host Adam Dixon is joined by Dr. Jostein Hauge, an expert on industrial policy and global development, to dissect the forces behind China’s rapid economic rise. From state-led industrial strategies to market competition under strict state control, we explore how China is reshaping global manufacturing, innovation, and geopolitics. Key themes: How China became the world’s top manufacturing power The role of industrial policy and internal market competition Why global perceptions of China differ across regions The myths and realities behind the “China threat” narrative What China’s economic model means for global competition, innovation systems, and Western welfare states 

In this episode, Adam Dixon and Bryan Cheang takea hard look at the promises and pitfalls of industrial policy, using the mission economy framework popularized byMariana Mazzucato as a case study.They dig into essential questions:Why do governments struggle as economicentrepreneurs?What are the unseen risks when states try todirect innovation?How do democracy, pluralism, and uncertaintycomplicate grand economic plans?Why do governments struggle as economic entrepreneurs?What are the unseen risks when states try to direct innovation?How do democracy, pluralism, and uncertainty complicate grand economic plans?Drawing from East Asia’s development stories, the debate around state-owned enterprises, and the limits of authoritarian economic governance, Cheang argues for a freer, more pluralistic approach to economic progress. They explore how concentrated state power can hinder innovation and why a “system of natural liberty” still offers the best path for sustainable growth.Key themes:industrial policy, mission economy, state-led innovation, opportunity costs, democracy, East Asian development models, and the tension between control and liberty in economic systems.Essential listening for anyone asking who should shape the future of economic innovation — governments or markets.Adam Smith's Panmure HouseWebsite⁠ Adam DixonOn X⁠ On LinkedIn Bryan CheangLinkedIn

In this thought-provoking episode, Adam Dixon sits down with Jens Hillebrand-Pohl to unpack the fascinating world of geoeconomics —where global power struggles, political motivations, and economic strategies collide. Together, they delve into how nations use economic tools like sanctions, investment restrictions, and trade policies to exert influence and advance national interests, often in ways that defy classical economic reasoning.Hillebrand-Pohl offers a nuanced, historical perspective on economic statecraft and discusses how contemporary challenges — from the Trump administration’s economic manoeuvres to the resurgence of mercantilist practices- signal a transformative era for global affairs. The conversation highlights the essential role of collaboration across law, finance, risk management, and strategic communication in understanding and navigating the complexities of geoeconomics.Whether you're a policymaker, strategist, investor, or simply curious about how economics and geopolitics intertwine, this episode offers a timely, insightful guide to decoding the invisible forces shaping our world.Key TakeawaysGeoeconomics bridges the gap between geography and economics to explain policies that often defy traditional economic logic.Sanctions and investment restrictions are powerful tools of modern economic statecraft.Power dynamics — not welfare optimization — often drive national economic policies.Skepticism and critical analysis are crucial when interpreting political actions and economic decisions.Geoeconomics is still evolving, with practical applications being developed by multidisciplinary teams of legal, financial, risk, and strategic communication professionals.The world is witnessing a return to mercantilism and increasingly seeing the state act as an instrument for business interests.Adam Smith's Panmure HouseWebsiteAdam DixonXLinkedInJens Hillebrand-Pohlhttps://www.geoeconomics.fi/https://www.linkedin.com/company/helsinki-geoeconomics/posts/?feedView=all https://www.linkedin.com/in/jens-hillebrand-pohl/

In this episode, Adam Dixon and Hylke Dijkstra dive into the future of global cooperation. They discuss the challenges facing international organisations, the lasting effects of Trump’s policies, and China’s growing role on the world stage. With real-world examples and bold predictions, this conversation sheds light on where global politics is headed next.Key Takeaways:International organisations play a key role in global governance.Over 300 international organisations are currently active worldwide.Historical examples like the League of Nations provide insights into current challenges.The Trump administration's policies threaten the future of multilateralism.China's assertiveness in international organisations is a growing concern.The need for reform in international organisations is evident.Emerging powers are reshaping the landscape of global governance.Adam Smith's Panmure House:⁠Website⁠Adam Dixon:⁠On X⁠⁠On LinkedInHylke Dijkstra:On LinkedinMaastricht UniversityNew book: https://academic.oup.com/book/59488

Adam Dixon and Robyn Klingler-Vidra break down the intricate ties between government policy, venture capital, and innovation. They explore how nations foster—or stifle—startup ecosystems, why venture capital isn’t a guaranteed path to success, and the global forces shaping entrepreneurship. From Europe's scale-up struggles to China's hyper-competitive market, they reveal the cultural, economic, and geopolitical factors driving (or hindering) innovation.Key TakeawaysGovernments are increasingly acting as venture capitalists to spur innovation.Venture capital plays a crucial role in fostering start up-led innovation.A high number of start ups does not necessarily equate to greater business dynamism.The best innovation ecosystems complement existing industries rather than replicate others.Europe continues to struggle with the 'scale-up problem' for its start ups.Bureaucracy remains a major obstacle for business growth in Europe.China's innovation pace outstrips Europe's, driven by intense competition.Geopolitical tensions are reshaping venture capital and start up ecosystems worldwide.Adam Smith's Panmure House:⁠Website⁠Adam Dixon:⁠On X⁠⁠On LinkedInRobyn Klingler-Vidra:https://www.linkedin.com/in/dr-robyn-klingler-vidra/https://www.kcl.ac.uk/people/robyn-klingler-vidra Robyn’s latest book Start-up Capitalism: https://www.cornellpress.cornell.edu/book/9781501780318/startup-capitalism/#bookTabs=1

In this episode, we explore the intricate relationship between the Chinese Communist Party (CCP) and China’s economic development. Adam Dixon and Jeff Henderson discuss the CCP’s influence on business operations, the historical impact of the Great Leap Forward, Deng Xiaoping’s market reforms, and Xi Jinping’s leadership. We also examine China’s global investments, competition within its economy, and the geopolitical tensions shaping trade relations between China, Europe, and the West.Key topics discussed:The CCP’s role in China’s economic rise and political stabilityHow Deng Xiaoping’s reforms lifted 700 million people out of povertyThe influence of the CCP on both state-owned and private enterprisesThe significance of foreign investment and technology transfer in China’s growthThe impact of Chinese investment in Europe: risks, benefits, and economic security concernsIncreasing competition between Chinese and Western corporationsHow global trade tensions are reshaping economic policies and alliancesAdam Smith's Panmure House:⁠Website⁠Adam Dixon:⁠On X⁠⁠On LinkedInJeff Henderson:On LinkedIn

In this episode of New Enlightenment, Adam Dixon sits down with Ilan Kelman to unravel the complex realities behind disasters, climate change, and the power of effective communication. Kelman challenges the common notion of “natural disasters,” emphasizing that disasters are driven by human choices and public policy failures rather than nature alone.The conversation dives into why understanding the baselinecauses of disasters — from poor urban planning to inadequate forest management — is critical to reducing their impact. Kelman argues that fear-based messaging around climate change often backfires, stressing the importance of tailored communication strategies that resonate with diverse communities.Key topics explored include:✅The role of public policy in exacerbating disaster risks✅ The urgent need for alternatives to fossil fuel dependency✅ How forest management can mitigate wildfire dangers✅The complexities of climate migration and whythe term "climate refugee" remains legally and politically problematic✅The unique challenges faced by vulnerable communities— from Arctic populations to island nations — and the need for localised solutions Kelman also highlights the importance of engaging in difficult conversations, especially when it comes to transportation policies, community resilience, and the socio-economic factors that shape disaster outcomes.Throughout the episode, the central theme remains clear: collaboration, dialogue, and evidence-based communication are key to tackling today’s most pressing climate challenges. Scientists, policymakers, and communities must work together to shift public perception and drive meaningful action.Adam Smith's Panmure House:⁠Website⁠Adam Dixon:⁠On X⁠⁠On LinkedInIlan Kelman:WebsiteOn LinkedInOn XOn InstagramUCL

In this episode, Adam Dixon sits down with RobertoDuran-Fernandez to explore North America's shifting trade landscape. They examine Mexico’s growing role in global supply chains, the impact of recent U.S.-Mexico trade agreements, and the evolving U.S.-China trade rivalry. The conversation dives into nearshoring trends, accelerated by the COVID-19 pandemic, and how geopolitical tensions are reshaping trade policies.Key topics include: Mexico as a key U.S. trade partner Nearshoring vs. offshoring: What’s next forglobal supply chains? The impact of U.S.-China relations on NorthAmerican trade Trump’s economic strategy and U.S. hegemonyAdam Smith's Panmure House:⁠Website⁠Adam Dixon:⁠On X⁠⁠On LinkedInRoberto Duran-FernandezOn LinkedInOn XBaker InstituteTecnologico de Monterey

In this episode, Francesca Ghiretti joins Adam Dixon to discuss the complexities of the China-US rivalry and its implications for Europe and the UK. They explore the escalating tensions between the two superpowers, the impact of self-sufficiency trends, and the challenges Europe faces in navigating its relationship with China while maintaining strong ties with the US. The discussion highlights the need for diversification and strategic planning in the face of economic uncertainties and geopolitical shifts. The conversation also covers the evolving political landscape in Europe, focusing on the UK's economic security, the EU's rightward shift, and the implications of these changes for European unity and defence spending. They explore the challenges of industrial policy, and the importance of creating ecosystems for successful industrial strategies. The discussion highlights the complexities of navigating national interests within the EU and the need for coordinated efforts to address pressing issues. Takeaways: There is significant escalation in US-China tensions. Self-sufficiency is a growing trend in both the US and China. Europe's identity and economic strategy are being re-evaluated. The UK faces challenges in maintaining a coherent China strategy. Granularity in regulations complicates European engagement with China. Europe needs both the US and China for growth and innovation. The UK lacks the leverage it had as an EU member. A rightward shift in European governments poses challenges for unity. The Berlin-Paris axis is weakening, affecting EU foreign policy. Giorgia Meloni's focus is more national than European. Increased defense spending is critical in light of recent events. Coordination in industrial policy is lacking across Europe. Misconceptions about industrial policy success can lead to misguided strategies. Ecosystems play a vital role in the success of industrial strategies. Public money allocation in industrial policy needs careful consideration. Adam Smith's Panmure House: ⁠Website⁠ Adam Dixon: ⁠On X⁠ ⁠On LinkedIn Francesca Ghiretti: On LinkedIn Geoeconomic Competition podcast RAND Chinese Investments and the Economic Security Turn in Europe

In this conversation, Adam Dixon and Amir Lebdioui delve into the intricacies of green industrial policy, emphasising its necessity in a climate-conscious world. They explore the economic advantages for developing countries to adopt green strategies, the challenges of fossil fuel development, and the importance of equity in energy transitions. The discussion also highlights the role of oil companies in the energy transition and the need for effective monitoring and evaluation of industrial policies. Ultimately, they stress the importance of adaptability and the involvement of civil society in shaping successful green policies. The discussion also highlights global examples of successful green policies, particularly focusing on China's competitive landscape in green technology and the geopolitical implications of these developments. Takeaways Developing countries can benefit economically from green policies. The narrative around green development needs reframing for developing nations. Fossil fuel production will continue but in reduced quantities. Equity in fossil fuel extraction is crucial for fair transitions. Oil companies have expertise that can aid in the energy transition. Green industrial policy requires adaptation to local contexts. Monitoring and evaluation are essential for effective policy implementation. Learning from failures is key to successful industrial policy. Civil society should play a role in monitoring industrial policies. Green industrial policy should be flexible and responsive to change. Successful examples of green policies can be found globally, including in Costa Rica and Malaysia. China's approach to green technology involves significant market competition. Long-term planning and gradual implementation can lead to successful transitions to green technologies. The relationship between government and private sector should be collaborative, not parasitic. Adaptation to changing conditions is essential for maintaining competitive advantages. A cooperative approach with China could benefit global sustainability efforts. Adam Smith's Panmure House: ⁠Website⁠ Adam Dixon: ⁠On X⁠ ⁠On LinkedIn Amir Lebdioui: On LinkedIn On X https://www.qeh.ox.ac.uk/person/amir-lebdioui Survival of the Greenest: Economic Transformation in a Climate-conscious World

In this conversation, our guest Stacy Swann discusses the evolution of climate finance, particularly in the context of COP meetings and the role of blended finance. She explains how the definition of climate finance has changed over the years, moving from a narrow focus on development aid to a broader understanding that includes private investment. The discussion also highlights the importance of blended finance in catalysing private capital for climate-related projects and the challenges of ensuring that funds are used effectively to address climate change. The dialogue emphasises the need for a balanced approach between mitigation and adaptation strategies, the importance of optimising blended finance, and the cautious optimism surrounding the financial sector's ability to contribute to climate solutions. Takeaways Climate finance has evolved significantly over the years. Public balance sheets alone cannot address the climate crisis. The definition of climate finance has become more complex. Transparency is essential in blended finance structures. Initial blended finance efforts were focused on climate-oriented projects. The time horizon for addressing climate change has significantly shortened. Investment in clean energy must accelerate to meet urgent needs. Public dollars should catalyse private investment efficiently. Investors are recognising climate risk as a critical factor. Mitigation and adaptation strategies must be balanced in funding. Adam Smith's Panmure House: ⁠Website⁠ Adam Dixon: ⁠On X⁠ ⁠On LinkedIn Stacy Swann: On LinkedIn Resilient Earth

In this conversation, Adam Dixon and Professor Darius Wojcik explore the field of financial geography, its distinctions from economic geography, and the importance of mixed methods in understanding financial systems. They discuss the Atlas of Finance, a comprehensive project that visualises financial data and relationships, emphasising the role of qualitative research in uncovering insights that quantitative data alone may miss. The conversation also delves into the definition of finance, its historical context, and the significance of visualisation in presenting financial information. In this conversation, Dariusz Wójcik and Adam Dixon explore the intricate relationships between finance, economics, and the environment, emphasising the historical context of these concepts. They discuss the distinction between economic and financial systems, the implications of socialist economies, and the role of Adam Smith as a financial geographer. The conversation also delves into the surprises encountered in the creation of the Atlas of Finance and the geopolitical tensions shaping the future of finance. Takeaways Financial geography examines the relationship between finance and space. Visualisation helps tell stories about financial data. Africa is currently the epicentre of financial crises. Finance is defined as relationships mediated by money. Understanding finance requires a broader definition than just money. The Atlas aims to educate and inform about financial systems. Everything financial is economic, but not vice versa. Financial sanctions have become the sanctions of choice in modern geopolitics. The US dollar remains a dominant force in global finance. The Atlas of Finance provides a historical perspective on finance's evolution. Adam Smith's Panmure House: ⁠Website⁠ Adam Dixon: ⁠On X⁠ ⁠On LinkedIn Dariusz Wójcik: On X On LinkedIn

In this conversation, Jean-Baptiste Wautier, veteran private equity leader, joins host Adam Dixon to discuss the complexities of capitalism, discussing its benefits, challenges, and the pressing need for reinvention. They explore the issues of inequality, environmental concerns, and the cyclical nature of economic booms and busts. Wautier emphasises the importance of shifting the focus from short-term profit to long-term purpose, advocating for a capitalism that prioritises societal solutions and minimises negative externalities. The discussion highlights the potential for a more sustainable and equitable economic model that addresses the root causes of current challenges. The dialogue emphasises the need for a shift in mindset where profit is seen as a by-product of solving societal problems rather than the primary goal. Takeaways Capitalism has created wealth but also significant inequalities. Reinventing capitalism is essential rather than discarding it. Concentration of wealth leads to inefficiency and political discontent. The boom-and-bust cycle of capitalism affects generations unfairly. Short-term profit obsession hinders long-term solutions. A focus on purpose can lead to better outcomes in capitalism. Stakeholder consideration is crucial for sustainable business practices. A reimagined capitalism can address societal challenges effectively. Corporate boardrooms prioritise profit over purpose. Venture philanthropy can align financial returns with social impact. Long-term thinking is essential for sustainable investments. Investors need to be incentivised to consider externalities. Purpose-driven companies can still be profitable. Scaling purpose-driven ventures requires a focus on impact. Adam Smith's Panmure House: ⁠Website⁠ Adam Dixon: ⁠On X⁠ ⁠On LinkedIn Jean-Baptiste Wautier: On LinkedIn On X https://wautier.co.uk/

In this episode, Adam Dixon and Aniket Shah discuss the implications of Donald Trump's presidency on climate change and energy policy, China's lead in the green technology sector, and the current thinking on ESG investing. They explore the complexities of global emissions, the potential for breakthroughs in energy technology, and the need for adaptation strategies in a warming world. They also explore the financial implications of climate change solutions, emphasizing that the costs associated with addressing climate change are manageable when viewed in the context of global GDP and energy spending. The conversation also critiques the ESG (Environmental, Social, and Governance) framework, addressing the confusion within the ESG community regarding its purpose and effectiveness. Ultimately, they advocate for a clear understanding of the system and the roles different stakeholders play in driving sustainable finance and climate action. Takeaways America is a fossil fuel superpower, impacting its energy transition. Trump's presidency may not drastically hinder decarbonisation efforts. State-level initiatives in renewable energy are gaining momentum. China is leading the global race in green technology. The US's role in global emissions is only 10-12%. Investment in low carbon technologies is increasing globally. The missing middle in climate tech funding is a significant challenge. Adaptation and carbon removal must be prioritised in climate strategies. A mixed economy approach may emerge under Trump's leadership. Solving climate change can be financially feasible. Investment in low carbon energy is already happening. Adaptation should be viewed as infrastructure investment. Demand-side solutions are crucial for climate action. ESG is confused about its purpose and effectiveness. Clear analysis leads to better investment decisions. Historical emissions create ethical obligations for high emitters. Adam Smith's Panmure House: ⁠Website⁠ Adam Dixon: ⁠On X⁠ ⁠On LinkedIn Aniket Shah: On LinkedIn Jefferies

In this conversation, Adam Dixon and Samuel Gregg delve into the life and influence of Friedrich Hayek, a pivotal figure in classical liberal thought. They explore Hayek's multifaceted approach to economics and politics, his critiques of collectivism, and the contemporary misinterpretations of his ideas as far-right. The discussion also touches on Hayek's vision for a balanced state that plays a crucial role in society while allowing markets to function effectively. They delve into the resurgence of neo-mercantilism, and the implications of industrial policy in the context of national security. The discussion highlights the complexities of modern economic arrangements and the challenges posed by state capitalism and corporatism. Takeaways Hayek is considered the most influential classical liberal of the 20th century. His work is often mischaracterised as anti-democratic or far-right. Economic globalisation has led to both wealth and disruption. Hayek was critical of economic nationalism and populism. He emphasised the importance of civil society alongside market and state functions. Hayek's critiques of collectivism stem from historical perspectives on enlightenment thought. His ideas remain relevant in discussions about modern economic policy. The labelling of thinkers like Hayek as far-right is often a misunderstanding of their broader views. Hayek's views are often misrepresented as solely market driven. Today's global economy reflects a resurgence of mercantilism. China exemplifies a neo-mercantilist approach to capitalism. National security concerns can blur the lines of acceptable industrial policy. Hayek emphasised the importance of long-term economic thinking. Adam Smith's Panmure House: ⁠⁠Website⁠⁠ Adam Dixon: ⁠⁠On X⁠⁠ ⁠⁠On LinkedIn⁠ Samuel Gregg: ⁠On X ⁠ ⁠On LinkedIn ⁠⁠https://aier.org/author/samuel-gregg/

In this conversation, Adam Dixon and Kerry Brown explore the intricate historical relationship between Britain and China, spanning over 400 years. They discuss the importance of understanding this history in the context of contemporary geopolitics, particularly as tensions rise between the West and China. Brown emphasizes the need for a historical perspective to navigate current challenges, highlighting the evolution of Chinese nationalism and the impact of Xi Jinping's leadership. The discussion also touches on the Enlightenment's fascination with China, Britain's colonial legacy, and the complexities of modern Chinese identity and governance. Takeaways: China has a deeper understanding of the West than vice versa. The Enlightenment thinkers had a complex view of China. Britain's colonial actions had lasting impacts on China. Chinese nationalism emerged as a response to foreign influence. Xi Jinping's leadership reflects a shift in China's global stance. Dialogue between China and the West is essential for mutual understanding. The history of Britain and China is marked by both conflict and collaboration.  The future of China and the West depends on continued engagement. Adam Smith's Panmure House: ⁠Website⁠ Adam Dixon: ⁠On X⁠ ⁠On LinkedIn Kerry Brown: On X On LinkedIn https://www.kcl.ac.uk/people/kerry-brown https://yalebooks.co.uk/book/9780300272925/the-great-reversal/

In this episode we are joined by Ryan Streeter, the Executive Director of the Civitas Institute at the University of Texas at Austin. The conversation explores the emergence of new schools of civic leadership in response to perceived ideological monocultures on university campuses, the importance of open inquiry and critical thinking in education, and the challenges of fostering economic dynamism in both the U.S. and the UK. Adam Smith's Panmure House: ⁠Website⁠ Adam Dixon: ⁠On X⁠ ⁠On LinkedIn Ryan Streeter: Civitas Institute LinkedIn University of Texas School of Civic Leadership

This conversation with Niall Ferguson unpacks the state of Western universities today. Our conversation begins with a discussion on the importance of the Scottish Enlightenment in shaping the modern world. We then discuss the growing illiberalism at Western university, considering the reasons behind the upstart University of Austin. Adam Smith's Panmure House: ⁠⁠Website⁠⁠ Adam Dixon: ⁠⁠On X⁠⁠ ⁠⁠On LinkedIn⁠ Niall Ferguson: ⁠On X

In this episode, we are joined by Matthias Thiemann to discuss the need for a real debate on the role of central banks in keeping capitalism and financial markets afloat. The episode focuses on central bank actions in the wake of the 2008 financial crisis and recently during the COVID pandemic. We explore the debates around allowing central banks to regulate and monitor financial market actors, noting specifically the actions of the Trump Administration to prevent this. Takeaways The independence of central banks is seen as a way to prevent political interference, but it also raises concerns about accountability and the potential for inequality. Quantitative easing programmes implemented by central banks have contributed to wealth inequality. There is a need for a real debate on the role of central banks in maintaining financial stability and the potential consequences of their actions. Market liberals often advocate for minimal regulation but some are quick to seek bailouts when the system collapses. The influence of hedge fund managers and their opposition to regulation is a significant factor in the politics of financial regulation. The high leverage of hedge funds and their fragility pose a systemic risk to the financial system. Adam Smith's Panmure House: ⁠Website⁠ Adam Dixon: ⁠On X⁠ ⁠On LinkedIn Matthias Thiemann: Sciences Po On X On LinkedIn Taming the Cycles of Finance

Tina Fordham, a leading independent strategist and advisor and founder of Fordham Global Insight, discusses the changing landscape of geopolitics and its impact on the global economy. She highlights the need for a holistic approach to understanding geopolitical risks and challenges the effectiveness of AI and machine learning in predicting human behaviour. Fordham also shares her insights on the upcoming US elections and emphasises the importance of considering historical context and avoiding projection when analysing political events. The conversation explores the upcoming US election and its implications for the post-World War II liberal order, the Democratic National Convention, and the future of the transatlantic relationship. It also touches on the unpredictability of the election outcome, and the impact of geopolitical tensions. The conversation concludes with a discussion on the potential consequences if Iran acts militarily against Israel. Takeaways Geopolitical analysis requires a holistic approach that combines data analysis with historical context and an understanding of human behaviour. AI and machine learning have limitations in predicting geopolitical risks due to the complexity of human behaviour. The global economy has experienced significant changes in the past 15 years, and the idea of returning to a 'normal' state is unrealistic. Perceptions of geopolitical events often lag behind the reality, and there is a need for better education on recent history and current global trends. The upcoming US elections are unpredictable, and it is important to consider multiple factors and avoid projecting personal biases. The US election will have significant implications for the post-World War II liberal order and the future of the transatlantic relationship. The Democratic National Convention is focused on party cohesion and introducing Kamala Harris as Joe Biden's running mate. The outcome of the election remains uncertain, and there may be more surprises to come. Geopolitical tensions, such as those in the Middle East, could impact the election and global stability. Iran's actions in the Middle East could have fundamental destabilising effects. Adam Smith's Panmure House Adam Dixon Fordham Global Tina Fordham

In this episode, we sit down with influential Oxford University management scholar Colin Mayer to discuss the purpose business and his new book 'Capitalism and Crises'. The discussion explores the need to rethink the purpose of corporations. The current focus on profit is flawed. Mayer proposes that the purpose of business should be to produce profitable solutions for the problems of people and the planet, without profiting from creating harm. He acknowledges the benefits of capitalism but also recognises the increasing threats and crises it is causing. Mayer suggests that by aligning business goals with solving societal and environmental problems, we can achieve greater growth and prosperity while avoiding the problems we currently face. Takeaways The purpose of business should be to produce profitable solutions for the problems of people and the planet. Businesses should not profit from creating problems for others. Capitalism has brought immense prosperity but is also causing increasing threats and crises. Aligning business goals with solving societal and environmental problems can lead to greater growth and prosperity while avoiding current problems. Embedding the purpose of companies in their intrinsic formulation is crucial. Litigation would focus on the governance and values of companies, not specific harms. The concept of corporate purpose can be diffused across different political economies. Technology will play a significant role in holding businesses accountable. Adam Smith's Panmure House: Website Adam Dixon: On X  Colin Mayer Capitalism and Crises

In this episode, we welcome Ilias Alami to discuss state capitalism and his new book, co-authored with Adam Dixon, The Spectre of State Capitalism. We discuss why we are currently witnessing a historic arc in the trajectories of state intervention, characterised by a drastic reconfiguration of the state's role as promoter, supervisor, shareholder-investor, and direct owner of capital across the world economy. We discuss why the new state capitalism is rooted in deep geopolitical economic and financial processes pertaining to the secular development of global capitalism, as much as it is the product of the geo-economic agency of states and the global corporate strategies of leading firms. We discuss the growing fusion of private and state capital, and the development of flexible and liquid forms of property that collapse the distinction between state and private ownership, control, and management. This has fundamental implications for the nature and operations of global capitalism and world politics. Takeaways The expansion of the state's role in the economy is a response to structural transformations in global capitalism and not primarily an ideological shift. Understanding state capitalism requires a global outlook and an analysis of transnational connections and inter-referentiality. The material transformations in the global economy have triggered ideological and ideational adjustments regarding the role of the state in the economy. State capitalism is not limited to a specific political ideology and is observable across different political systems. The integration of state-owned enterprises in global trade and finance has led to a new form of state ownership that mimics private sector practices. Adam Smith's Panmure House: Website Adam Dixon: On X On LinkedIn Ilias Alami: On X On LinkedIn https://www.devstudies.cam.ac.uk/staff/dr-ilias-alami https://global.oup.com/academic/product/the-spectre-of-state-capitalism-9780198925194?view=Grid&facet_narrowbyproducttype_facet=Digital&lang=en&cc=st

In this episode, we welcome Dan Klein to discuss the rise and implications of hate speech and hate crimes laws. The discussion touches on hate as a philosophical concept, delving into Adam Smith's perspective on hate and the asymmetry of social and unsocial passions. We discuss the universal nature of hate and the cultural and societal factors that influence its expression. The conversation raises questions about the politics behind hate crime and hate speech legislation. Klein questions the need for enhanced penalties for certain motivations, arguing that it creates inequality between different types of wrongdoings. We also discuss the idea that character traits should not be punished by the law and express concerns about the potential abuse of power and censorship. The conversation closes with a discussion of the importance of viewpoint diversity and fostering open dialogue. Takeaways Hate speech and hate crime legislation is on the rise, with a distinction between criminalising certain forms of speech and enhancing penalties for crimes motivated by perceived bias. Adam Smith emphasised the asymmetry of social and unsocial passions, urging individuals to tamp down unsocial passions and be cautious in expressing them. The cultivation of proper sentiments, including the management of hate, is a cultural and societal process that requires good examples, exemplars, and a bottom-up approach. Hate crime legislation raises concerns about defining hate and its potential manipulation for political and cultural agendas, highlighting the need for careful consideration and balance in addressing hate. Enhanced penalties for certain motivations in hate crimes can create inequality between different types of wrongdoings. Punishing character traits through the law is dangerous and goes against the principles of classical liberalism. There is a concern about the abuse of power and the potential for censorship in the enforcement of hate crimes and hate speech laws. Adam Smith's Panmure House Adam Dixon Dan Klein - Mercatus Center Dan Klein - George Mason University Adam Smith Program

In this episode, we sit down with Jan Bebbington, Professor of Sustainability in Business, to discuss the evolving landscape of social and environmental accounting. We explore sustainability accounting in helping organisations contribute to achieving the Sustainable Development Goals (SDGs). She emphasises the need for organisations to navigate the complexities of achieving multiple SDGs simultaneously and the importance of collaboration and partnership. Bebbington acknowledges the challenges of transitioning to a sustainable economy and the need for innovative solutions and collective action. The conversation explores the challenges of integrating sustainability into financial and operational practices. It discusses the misconception that organisations need to maximise profits and highlights the importance of nuanced business purposes. The conversation also delves into the complexities of decision-making in a non-linear ecological context and the need for traceability in supply chains. It explores the emergence of import bans on materials associated with deforestation and the implications for businesses. The future of sustainability accounting is discussed, including the mainstreaming of environmental and social reporting and the challenges of audit and assurance. The conversation concludes with a focus on the changing domains of responsibility and the need for businesses to align with the spirit of sustainability regulations. Takeaways Sustainability accounting involves using accounting technologies to create organisational control and accountability for sustainable development. The Sustainable Development Goals (SDGs) provide a framework for organisations to contribute to sustainable development. Achieving the SDGs requires navigating the complexities of multiple goals and collaborating with various stakeholders. Transitioning to a sustainable economy is a complex task that requires innovation, experimentation, and collective action. Organisations do not need to maximise profits; their purposes are often more nuanced and focused on returns that support the well-being of stakeholders. Decision-making in a non-linear ecological context is complex and requires accounting for impacts and dependencies. Traceability in supply chains is crucial as organisations are increasingly held responsible for the actions of their suppliers. Import bans on materials associated with deforestation are emerging as a form of governance, creating challenges for businesses in terms of traceability and market access. The future of sustainability accounting involves mainstreaming environmental and social reporting, as well as addressing the complexities of audit and assurance. Businesses need to align with the spirit of sustainability regulations and focus on the purpose and impact of their operations. Adam Smith's Panmure House Adam Dixon Jan Bebbington Jan Bebbington at Lancaster University

In this episode, we sit down with Sarah Bauerle Danzman to explore the increasing tensions between the United States, its allies in Europe, and China in the context of investment regulations and restrictions, as well as technological supremacy. We delve into the historical context of US-China relations, the bipartisan support in the US for policies tough on China, the influence of the business and financial community, and the role of Europe in this geopolitical landscape. The conversation explores the intersection of investment regulations, economic competition, and national security concerns in the context of US-China and European relations. Takeaways US-China tensions are driven by concerns around technological supremacy, investment regulations, and national security. Bipartisan support for policies tough on China is evident, with a focus on economic security and national security. The business and financial community in the US is navigating the impact of securitised political economy, with a focus on policy certainty and lobbying for industrial policy. Europe's role in the geopolitical landscape is evolving, with a focus on economic competitiveness, security concerns, and the dynamics of the US-Europe-China relationship. Adam Smith's Panmure House Adam Dixon https://www.sarahbauerledanzman.com/ Sarah Bauerle Danzman on X Sarah Bauerle Danzman on LinkedIn

In this episode, we sit down with Indrajit Roy to discuss the past, present, and future of Indian democracy, just as the country of more than 1 billion people goes to the polls. The conversation delves into the state of Indian democracy, its historical context, and the impact of Modi's leadership. We explore the effectiveness of Indian democracy in providing a voice to its citizens and the impact on social and economic equality. We discuss the rise of Hindu nationalism and its impact on Indian society and politics, noting the departure from the principles of liberal democracy, particularly around non-discrimination of minority groups. Notwithstanding, the resistance against illiberal tendencies in India is evident through institutional, political, and social activism. This highlights the durability of Indian democracy. Takeaways Indian democracy faces challenges in providing social and economic equality, despite its effectiveness in giving a voice to historically oppressed communities. The rise of Hindu nationalism under Modi's leadership has led to a departure from the principles of liberal democracy, impacting religious minorities and creating a Hindu homogeneous group. The historical context of Indian democracy and the impact of Hindu nationalism on Indian society and politics are critical to understanding the current state of Indian democracy. Caste dynamics play a significant role in Indian politics, with upper caste groups holding disproportionate wealth and power. Modi's leadership has seen positive developments in infrastructure investment, reduction of petty corruption, and digitization of financial transactions. The resistance against illiberal tendencies in India is evident through institutional, political, and social activism, highlighting the durability of Indian democracy. Links: Adam Smith's Panmure House Adam Dixon Indrajit Roy on X Indrajit Roy in Linkedin University of York Audacious Hope: An Archive of How Democracy is being Saved in India

In this episode, we sit down with Philip Rathgeb to discuss the impact of radical right parties on social and economic policies in Europe and the USA. Rathgeb explains that the rise of the radical right is a result of the depoliticisation of the economy because of the neoliberal consensus of the last few decades. This has led to a migration of political conflict to cultural issues such as immigration and identity. The radical right, according to Rathgeb, seeks to politicise these issues and undermine liberal democratic institutions. Rathgeb introduces the concept of 'culture war capitalism' which explores the interdependence between cultural and economic policies. He provides examples of how radical right parties use family policy to implement their cultural principles and entrench gender roles. The conversation then delves into the upcoming European Parliament elections and the dispute among radical right parties from different countries in terms of foreign policy and the economy. Takeaways The rise of the radical right is a response to the depoliticisation of the economy under the neoliberal consensus. Radical right parties politicise cultural issues such as immigration and identity to undermine liberal democratic institutions. The concept of 'culture war capitalism' explores the interdependence between cultural and economic policies.    Radical right parties use family policy to implement their cultural principles and entrench gender roles. Radical right parties in Europe contest different elements of globalisation.  The upcoming European Parliament elections will see the rise of radical right parties, posing challenges in foreign policy and the economy. Mainstream parties need to understand and address the anxieties of voters to counter the rise of the radical right. Links: Adam Smith's Panmure House Adam Dixon Philip Rathgeb: LinkedIn X How the Radical Right Has Changed Capitalism and Welfare in Europe and the USA Website

In this episode, we are joined by Helen Thompson, Professor of Political Economy at the University of Cambridge, and co-host of the popular podcast from UnHerd, These Times. We discuss how energy has become a key issue in political economy, which Thompson’s work is a key example of. Our conversation moves to discussing the differences and similarities with the development of an oil-based global economy in the 20th century to the current energy transition. We examine China’s specific advantages in mining and minerals for the energy transition and how the West, specifically the United States, is trying to catch up. Just as states were crucial to the development of oil in the 20th century, it is likely that states will again play a central role in the energy systems of the future. Takeaways The field of political economy has seen a shift towards the study of the geopolitics of energy, particularly in relation to the energy transition. China has geopolitical advantages in terms of metals production and processing, which has implications for global power dynamics. The concentration of resources, whether it's energy or metals, in certain regions can lead to geopolitical competition and tensions. The United States and China are engaged in a competition in the energy sector, with the US challenging China's dominance and intensifying the competition. The energy transition requires a more active state involvement, whether through state ownership or providing capital for the transition. The energy transition poses challenges in terms of infrastructure development, such as rebuilding the electricity grid and retrofitting buildings. Interdisciplinary thinking and collaboration are crucial in addressing the complexities of the energy transition. Links: ⁠Adam Smith's Panmure House⁠ ⁠Adam Dixon Dr Helen ThompsonDr Helen Thompson Twitter Dr Helen Thompson's book: Disorder

In this episode, we sit down with Dr Joseph Henrich of Harvard University to discuss his work on how humans evolved genetically to be a cultural species. Our conversation begins with a discussion of radical interdisciplinarity, or how we need to adopt multiple approaches and perspectives to answer complex social scientific questions. This contrasts with a disciplinary focus, which still dominates most research. Our conversation then turns to discussing Henrich’s wider research agenda, exploring his two most recent books The Weirdest People in the World and the Secret of Our Success, and his current book project, The Collective Brain. Our conversation touches on humans as a cultural species, how the nature vs. nurture binary is false, and how policies regarding marriage and the family implemented by the Roman Catholic Church in the Medieval period shaped psychological variation observed in Western societies, leading to a more individualistic psychology, changes in the nature of Western law, and eventually leading to things like representative government. Takeaways Radical interdisciplinarity is crucial for addressing complex research questions and fostering innovation. Interdisciplinary research requires collaboration and the ability to navigate different disciplinary languages and methodologies. Cultural evolution plays a significant role in shaping human nature and preferences. Institutions and policies need to be tailored to the local psychology and cultural context to be effective. Cultural learning and transmission have played a crucial role in human adaptation and evolution. The accumulated wisdom in our culture drives genetic evolution and shapes our physiology and behaviour. The Western Church's policies regarding marriage and the family have influenced the psychological variation observed in Western societies. Understanding the cultural evolution of institutions is important for international development policy and international relations. Links: Adam Smith's Panmure House Adam Dixon Joseph Henrich Weirdest People in the World

In this episode, we sit down with tech evangelist James Whittaker to discuss the potential impact of artificial intelligence (AI) on society. We explore the short-term impacts of AI, including the potential for AI to spread disinformation but equally the possibility for AI to debunk false information. In regards the long term, we discuss the potential loss of purpose and creativity in humans as AI takes over more tasks, a concern not dissimilar to those at the beginning of and through the First Industrial Revolution. The conversation explores the challenges of regulating AI, where geoeconomic considerations are in play. The EU’s push to regulate AI will not stop development elsewhere, namely in authoritarian states. The conversation concludes with a discussion on the ownership of personal data and the possibility of compensating use of data with equity (shares) from the firms that use it. Takeaways The development of AI requires three milestones: knowledge leaving the human mind, digitizing knowledge for machine readability, and access to massive storage and computing power. The short-term impacts of AI include the spread of disinformation, which can be combated by AI debunking false information. Humans may lose their sense of purpose and creativity as AI takes over more tasks. Now is the time to discuss how regulation may be necessary to address the ethical and societal implications of AI. AI is non-deterministic and learns like humans, making it capable of automating tasks beyond what software can do. The ownership of personal data should be recognised, and individuals should be compensated with equity for its use. The regulation of AI is challenging due to the lack of understanding among regulators and the influence of industry. The impact of AI on jobs and society requires a new approach and potential solutions like basic income. Adam Smith's Panmure House: https://panmurehouse.org/ Adam Dixon: https://twitter.com/DrAdam_Dixon James Whittaker: https://twitter.com/docjamesw https://www.linkedin.com/in/docjamesw/

In this episode, we welcome Gracelin Baskaran, Director of the Project on Critical Mineral Security at the Center for Strategic and International Studies, to discuss the geopolitics and geo-economics of critical minerals. We discuss how China’s dominance in the sector can be addressed by building new relationships with countries in Africa and South America. But the benefits must not go in one direction. The opportunity in diversifying the critical mineral supply chain is more than addressing national and economic security considerations. There is a huge development opportunity. This requires building new relationships in producing countries, investing in their infrastructure, and processing capabilities. Western governments and western companies need to step up their engagement and build better relationships in the Global South. Takeaways: China is not the only producer of critical minerals; resource-rich countries in Africa and South America offer opportunities for the United States and other advanced economies to diversify their supply chains. Responsible mining practices are crucial to minimise environmental damage and ensure a more mutually beneficial model of mining for resource-rich countries. Critical minerals are essential for national economic and energy security, as they are used in defence applications, electronics, and energy technologies. The West, including liberal democracies, needs to address the security and economic implications of relying on China for critical minerals. Partnerships with countries that have capital to deploy, such as Middle Eastern countries like Saudi Arabia, can help secure critical mineral supply. Geology and political and economic stability are important considerations when choosing mining jurisdictions. Financing development is crucial for resource-rich African countries to ensure better education, health, and standard of living. Critical minerals offer significant potential for Africa's economic development, but avoiding the resource curse is a challenge. Adam Smith's Panmure House: https://panmurehouse.org/ Gracelin Baskaran: https://www.csis.org/people/gracelin-baskaran https://twitter.com/GraceBaskaran https://www.linkedin.com/in/gracelinbaskaran/

In this episode, we sit down with Alex Trembath, Deputy Director at the Breakthrough Institute, an eco-modernist think tank that offers an alternative to traditional environmentalism. We discuss the inadequacies of the modern environmental movement and how in many places it has become a barrier to decarbonisation. We discuss the eco-modernist alternative, which takes seriously the reality of modernity and the reality of carbon and of nitrogen-based biogeochemical processes to modern human thriving. Adam Smith's Panmure House: https://panmurehouse.org/ Alex Trembath: https://twitter.com/atrembath The Breakthrough Institute: https://thebreakthrough.org/

In this episode, we sit down with Paul Tucker, former Deputy Governor of the Bank of England and now research fellow at Harvard University’s Kennedy School, to discuss his book 'Global Discord' and the role of cooperation in a fractured world order. We discuss the continued relevance of David Hume’s work in defining how constitutional democracies can maintain their liberal traditions while cooperating with rising authoritarian states. Tucker emphasises the importance of broadening perspectives and understanding different values in order to achieve cooperation. We also discuss the concept of the West and its significance in the current political landscape. The West should not be limited to a geographically constrained view. Rather, the West is defined by the practice of liberalism. Tucker concludes by highlighting the value of liberal critique and the capacity for learning from mistakes in maintaining order and cooperation. Sir Paul Tucker's website: https://paultucker.me/ Buy Sir Paul Tucker's Book: https://press.princeton.edu/books/paperback/9780691232089/global-discord

In this episode, we sit down with Andrew Moore, a biochemist and author of 'The Decarbonization Delusion.' For Moore, the decarbonisation agenda is misguided. But he is emphatic about the need to stop using fossil fuels. Moore is concerned about the limitations of battery technology in achieving sustainability, arguing instead that we need to consider e-fuels and other technologies that can be used in existing internal-combustion engines.  Takeaways  The decarbonisation agenda should focus on achieving net zero emissions but must consider the sustainability and environmental impact of alternative technologies.  Battery technology has limitations and requires careful consideration of its environmental impact and recycling challenges.  The sustainability footprint of battery electric vehicles needs to be evaluated in comparison to internal combustion engine vehicles.  China is not solely focused on electric vehicles and is investing in technology diversity, including methanol burning internal combustion engine vehicles. The European Union's policy on zero and low emission vehicles lacks technological diversity and may overlook the potential of e-fuels.  E-fuels, such as methanol, can be a viable alternative to electric vehicles, especially for long-distance trucking and buses. Buy Andrew's book: https://global.oup.com/academic/product/the-decarbonization-delusion-9780197664834?cc=gb&lang=en& Adam Smith's Panmure House: https://panmurehouse.org/

In this episode, we sit down with geographer and political economist Brett Christophers to discuss his new book The Price is Wrong, which explores the profitability challenges of renewable energy businesses and the economic obstacles to decarbonisation. We explore the role of subsidies, profitability, and market design in renewable energy investment. For Christophers, there are clear limitations of relying solely on free markets to address climate change.     Takeaways  The profitability challenges of renewable energy businesses pose economic obstacles to decarbonisation.   Subsidies play a crucial role in incentivising renewable energy investment; and removing them too soon can lead to a decline in investment.  Market design is essential in facilitating the transition to renewable energy, and simply relying on market forces may not be sufficient.  State intervention, either through compelling investment or state-owned companies, can be effective in driving renewable energy development.  Public sector ownership should operate differently from the private sector to achieve the desired outcomes in renewable energy.  Adam Smith's Panmure House: ⁠⁠https://panmurehouse.org/⁠ Buy Brett's book: https://www.versobooks.com/products/3069-the-price-is-wrong

In this episode, we sit down with economist and noted inequality researcher Branko Milanovic to discuss the influence of classical political economists like Adam Smith, Karl Marx, and David Ricardo, along with his latest book Visions of Inequality. He shares his formative experiences studying income distribution in socialist Yugoslavia, the ideological reluctance to discuss income inequality, the relevance of classical political economists in understanding income distribution today (particularly in relation to the return of class), and the challenges of speculating on future developments such as AI and the politics of global elites. Our conversation concludes with a discussion on Adam Smith's perspective on globalisation and the future developments and geopolitical competition that may shape the world.  Takeaways: Classical political economists like Adam Smith, Karl Marx, and David Ricardo are relevant in understanding income distribution today, particularly in relation to the return of class and the elite.  Speculating on future developments in income distribution is challenging, but studying the historical evolution of economic thought can provide insights into how our perception of inequality may be shaped by future circumstances.   Artificial intelligence has the potential to significantly impact inequality and the income distribution, particularly by displacing skilled workers and increasing the share of capital.  Broadening the ownership of capital and redistributing wealth can help address the increasing income inequality caused by artificial intelligence.  The emergence of a global elite raises new questions for social scientists, such as the implications for international relations, democracy, corruption, and taxation.  Adam Smith's writings provide insights into the potential benefits and challenges of globalisation, including the importance of prosperity and technological development in promoting peace.  Adam Smith's Panmure House: ⁠https://panmurehouse.org/⁠ Podcast in DC: ⁠https://panmurehouse.org/perspectives/podcasts/panmure-house-at-the-british-embassy-washington-dc/⁠ Buy Branko's book: ⁠https://www.hup.harvard.edu/books/9780674264144⁠ ⁠https://www.panmurehouse.org/shop/merchandise/visions-of-inequality-by-branko-milanovic/