About a dozen billionaires attended U.S. President Donald Trump's inauguration this past week, including the country's tech industry titans, in a sign of how he might govern—and who has his ear. After the inauguration, Trump signed a record 26 executive orders that will shape American life in the coming years, including the economy. Adam and Cameron dig in.

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The wildfires in Los Angeles this month have already caused some $275 billion in damage—an unprecedented catastrophe by any measure. Adam and Cameron discuss the economic implications and the impact of climate change not just there but elsewhere.

Also on the show: The economics of Greenland.

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In this bonus episode, Adam and Cameron discuss the economic legacy of former U.S. President Jimmy Carter, including his approach to inflation, deregulation, and fiscal issues.

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In this first episode of 2025—and the first one recorded since Adam’s heart surgery—Cameron and Adam discuss a conceptual ecological framework called the Planetary.

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This is the third and final episode in a miniseries on heterodox economists—people who embrace completely different approaches to economics than those of the standard thinkers.

Adam and Cameron discuss Hyman Minsky, an American economist who wrote widely on financial crises but whose work received broad attention only around the collapse of 2008—more than a decade after his death.

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Cameron and Adam are taking time off for the holiday. But don't despair! Instead of Ones and Tooze, you can listen to a recent episode of another Foreign Policy podcast: The Hidden Economics of Remarkable Women (HERO). The show examines economic challenges facing women around the world but especially in developing countries of Africa. Ones and Tooze will be back next week.

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This is the second episode in a miniseries on heterodox economists—people who embrace completely different approaches to economics than the standard thinkers. Adam and Cameron describe the life and work of Joan Robinson, who worked with John Maynard Keynes on his hugely influential macroeconomics book The General Theory of Employment, Interest, and Money—but came to regard Keynesianism as a failed revolution.

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This is the first episode in a miniseries on heterodox economists—people who embrace completely different approaches to economics than the standard thinkers. Adam and Cameron begin with Michal Kalecki, a Polish economist born in the late 19th century who believed that capitalism was not the solution to the human condition but the problem itself.

Listen until the end to hear Adam’s message from the ICU after his open-heart surgery.

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Adam has an aneurysm on his ascending aorta that requires major surgery. He and Cameron discuss the mechanics of the surgery itself and the economics of the U.S. health care system.

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Why are turkeys actually cheaper around Thanksgiving? And what is the origin of Black Friday?

In this holiday rerun episode, Adam and Cameron talk turkey about the origins of Thanksgiving, how it’s celebrated today, and the things that they’ve been most thankful for in the past year.

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With the collapse of the ruling coalition in Germany, hosts Cameron Abadi and Adam Tooze take a deep dive into the future of the country from both a political and economic perspective.

The two delve into what doomed the government of current chancellor Olaf Scholz and what lies ahead for likely future chancellor Friedrich Merz. Merz is the head of the main opposition party in parliament, the center-right Christian Democrats.

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