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Conversations with Tyler / episode intelligence

Adam Tooze on our Financial Past and Future

6 May 2020 17 published claims 2 attributable people

Speakers in the public record

Claim mix

belief 7evaluation 4recommendation 2prediction 2preference 2

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Every row below preserves an exact excerpt. Identified speakers are linked; unresolved voices are labeled and excluded from people counts.

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The useful parts, with receipts.

17 published records

01 / belief

Immediately, now we know from all of the great recent work supported by various types of swap line arrangement, by ’67, clearly almost dead in the water, and then in ’71, just tossed overboard by the next administration. Funny kind of regime that, I would say.

“Immediately, now we know from all of the great recent work supported by various types of swap line arrangement, by ’67, clearly almost dead in the water, and then in ’71, just tossed overboard by the next administration. Funny kind of regime that, I would say.”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

02 / belief

Whether that hits the big banks this time, or whether the neuralgic issue will be the mortgage lenders who are in the front line of that shock or the people who are exposed to various types of consumer credit — I think that’s a key issue.

“Whether that hits the big banks this time, or whether the neuralgic issue will be the mortgage lenders who are in the front line of that shock or the people who are exposed to various types of consumer credit — I think that’s a key issue.”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

05 / belief

For me, one of the reasons I’m skeptical about a strong inflation scenario is it’s not obvious to me that we have, as it were, the sociological guts that would — I don’t mean like bravery — I mean in the sense the underpinnings of a wage price spiral, which I think would be crucial to drive the kind of inflation that you’re talking about if we were to be in 15 percent and 20 percent.

“For me, one of the reasons I’m skeptical about a strong inflation scenario is it’s not obvious to me that we have, as it were, the sociological guts that would — I don’t mean like bravery — I mean in the sense the underpinnings of a wage price spiral, which I think would be crucial to drive the kind of inflation that you’re talking about if we were to be in 15 percent and 20 percent.”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

06 / belief

Of course, German political elites have choices to make, and a large fraction of them are obviously responsible for having made choices which turned out to be absolutely disastrous for their own country and for the rest of the world. But if you’re asking me, as it were, to say what I would argue personally, what my distinctive contribution to the debate has been is to show the way in which the collapse of the financial structures of the ’20s — which did indeed pivot on the United States — in the early ’30s shifted the terms of the debate within Germany and several other potential challenger, if you’d like, insurgent countries.

“Of course, German political elites have choices to make, and a large fraction of them are obviously responsible for having made choices which turned out to be absolutely disastrous for their own country and for the rest of the world. But if you’re asking me, as it were, to say what I would argue personally, what my distinctive contribution to the debate has been is to show the way in which the collapse of the financial structures of the ’20s — which did indeed pivot on the United States — in the early ’30s shifted the terms of the debate within Germany and several other potential challenger, if you’d like, insurgent countries.”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

08 / recommendation

He is well known for his treatments of German history, the history of the financial crisis, and right now, he is covering the financial stresses in our system on Twitter. I very much recommend that you follow him.

“He is well known for his treatments of German history, the history of the financial crisis, and right now, he is covering the financial stresses in our system on Twitter. I very much recommend that you follow him.”
Speaker
Tyler Cowen
Publisher
Conversations with Tyler

10 / evaluation

I think his political writings in Essays in Persuasion are brilliant. But I regard The Economic Consequences of the Peace as disastrous because, essentially, it enhanced and gave arguments to the German nationalists who —

“I think his political writings in Essays in Persuasion are brilliant. But I regard The Economic Consequences of the Peace as disastrous because, essentially, it enhanced and gave arguments to the German nationalists who —”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

11 / prediction

We could indeed be heading back to a scenario which is every bit as bad as that. And that’s one of the reasons why I say worry about Algeria, because that could produce a huge new flow of migrants from an economically distressed North African country, which France would be ill equipped to deal with.

“We could indeed be heading back to a scenario which is every bit as bad as that. And that’s one of the reasons why I say worry about Algeria, because that could produce a huge new flow of migrants from an economically distressed North African country, which France would be ill equipped to deal with.”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

12 / preference

[laughs] So sharing has become a key element in my reading, and the trying to figure out what the interesting thing is that I want to share is a very good way of focusing your mind on what the core — I read a piece, so what are the three sentences here I want to cut and paste?

“[laughs] So sharing has become a key element in my reading, and the trying to figure out what the interesting thing is that I want to share is a very good way of focusing your mind on what the core — I read a piece, so what are the three sentences here I want to cut and paste?”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

14 / prediction

Given that even in the Chinese case, we’re saying something closer to a swoosh than a V, the prospects in the West I think are, as I think you were suggesting, quite poor. It’s unclear to me how, as you were saying, a densely packed urban service sector, face-to-face–based economy of a city like New York — how it comes back under a regime of periodic lockdowns and managed social distancing.

“Given that even in the Chinese case, we’re saying something closer to a swoosh than a V, the prospects in the West I think are, as I think you were suggesting, quite poor. It’s unclear to me how, as you were saying, a densely packed urban service sector, face-to-face–based economy of a city like New York — how it comes back under a regime of periodic lockdowns and managed social distancing.”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

15 / preference

It’s very important for me in handling the stresses that arise in writing. And one of the things I realized in the course of that is that, actually, rather than thinking it was something terrifying that I had to steel myself to do, the best way to think about it was as something I do every day, so it’s like exercise.

“It’s very important for me in handling the stresses that arise in writing. And one of the things I realized in the course of that is that, actually, rather than thinking it was something terrifying that I had to steel myself to do, the best way to think about it was as something I do every day, so it’s like exercise.”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

16 / evaluation

South Africa, I think, is top of most people’s lists — terrible health risks because of the large 7 million-plus people living with HIV, who, we imagine, are probably extremely vulnerable to COVID-19; long-standing huge unemployment problem; growth below population growth for a long time; just been down-rated to junk for its sovereign bonds.

“South Africa, I think, is top of most people’s lists — terrible health risks because of the large 7 million-plus people living with HIV, who, we imagine, are probably extremely vulnerable to COVID-19; long-standing huge unemployment problem; growth below population growth for a long time; just been down-rated to junk for its sovereign bonds.”
Speaker
Adam Tooze
Publisher
Conversations with Tyler

17 / recommendation

I grew up in beautiful, sunny provincial Heidelberg, and it’s pretty difficult to recommend anywhere more highly than that for the tourism and to get the dolce vita sense of Germany.

“I grew up in beautiful, sunny provincial Heidelberg, and it’s pretty difficult to recommend anywhere more highly than that for the tourism and to get the dolce vita sense of Germany.”
Speaker
Adam Tooze
Publisher
Conversations with Tyler
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