The Big Shifts

An analysis of how digital platforms like Amazon, Google, and Facebook have reshaped the global economy. We explore the network effects that drive their growth, their impact on traditional industries, and the new challenges they pose for competition policy. The episode examines how these companies have transformed advertising, retail, and data collection, while considering the broader implications for privacy and market competition...

This episode tracks the emergence of Bitcoin and the cryptocurrency movement, from its cypherpunk origins to mainstream adoption. We examine the technical innovation of blockchain technology, the early days of Bitcoin mining, and the subsequent explosion of alternative cryptocurrencies. Special attention is paid to how cryptocurrencies challenge traditional notions of money and central banking, while exploring their potential impac...

A detailed examination of the 2008 financial crisis, focusing on the complex web of factors that led to the collapse. We trace the development of mortgage-backed securities, the role of credit default swaps, and the interconnectedness of global financial institutions. The episode pays special attention to the controversial decisions made during the crisis, including the Lehman Brothers bankruptcy and the unprecedented government in...

This episode delves into the ambitious project of creating the Euro, examining both its idealistic origins and practical challenges. We explore the Maastricht Treaty negotiations, the complex process of monetary integration, and the early crises that tested the currency's resilience. The narrative particularly focuses on how different economic cultures and fiscal policies within the Eurozone created inherent tensions that would lat...

Tracking the evolution of Silicon Valley from semiconductor manufacturing to the digital age, this episode reveals how a cluster of tech companies transformed global business. We examine crucial moments like the founding of Intel, the personal computer revolution, and the rise of venture capital. The episode highlights how the unique culture of innovation and risk-taking in Northern California created a template for tech hubs world...

This episode chronicles China's transformation beginning with Deng Xiaoping's reforms in 1978. We analyze the creation of Special Economic Zones, the privatization of state enterprises, and the introduction of market principles into the Communist system. The narrative follows China's evolution from an agricultural society to the world's manufacturing powerhouse, examining both the economic miracle and its social costs, including ri...

The episode examines the dramatic events of August 1971 when President Nixon suspended the dollar's convertibility to gold, ending the Bretton Woods system. We explore the mounting pressures that led to this decision, including Vietnam War expenses and growing trade deficits. The episode details the immediate global market reaction and explains how this decision fundamentally altered international finance, creating the modern float...