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Adam Tooze

@adam_tooze

History - Economics - Theory Columbia University. Born UK, raised FRG. Mensch mit Migrationshintergrund. Chartbook Newsletter: adamtooze.substack.com

New York, NYadamtooze.comJoined August 2015

7,907 Following

189.6K Followers

Adam Tooze’s Tweets

Pinned Tweet

“Imagine an iron house, with absolutely no windows, indestructible with many people asleep inside who will soon die of suffocation…Would you think you are doing them a good turn [by waking them before they perish]?” “But if a few awake, you can’t say there is no hope.” Lu Xun

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Adam Tooze Retweeted

Olivier Blanchard

6/8. Arguing that central banks should only allow first round effects, say the increase in the relative price of oil, implicitly says that this should be the distributional outcome, with firms using energy having lower profits, and households having a real wage decline.

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Adam Tooze Retweeted

"The British economy in 2022, is not back where it was at the end of a cycle of modernization efforts in the 1960s, or in the 1990s at the end of the Thatcherite project. That would be a far more optimistic outlook than that which it actually faces today."

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Adam Tooze Retweeted

Thabit Jacob, PhD

Enjoyed this

's piece on political economy of snow & skiing ⛷️ ❄️

adamtooze.substack.com

Chartbook #180: Do you ski? The political economy of snow, slopes and skiing

The ski business worldwide. Source: Vail Do you ski? As a matter of lifestyle and recreational distinction, it is a question up there with “do you play golf?” or “do you play chess?”. Of course, if...

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Adam Tooze Retweeted

Helpful summary and historic/social context for some of the staggering economic trends in the UK post 2008 financial crisis. via

adamtooze.substack.com

Chartbook #184 - Nostalgia for decline in deconvergent Britain

After a year of political turmoil and financial embarrassment, Britain ends 2022 shaken. There is a new spate of talk about national decline. Once again the UK is falling behind. The outlook is...

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Chartbook: Molotov man & the Nicaraguan uprising of 1979, polycrisis in Central America & rehabilitating the Qing dynasty

adamtooze.substack.com

Molotov man & the Nicaraguan uprising of 1979, polycrisis in Central America & rehabilitating the...

Great links, reading and images from Chartbook Newsletter by Adam Tooze

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Quite the pitch!

Quote Tweet

Replying to @arik_forsman

Sorry for delay folks -- blame the (very good!) Puss In Boots

U.S. Manufacturing Is on the Rise. Companies are responding to President Biden's investments in industries of the future.

Map shows manufacturing investments across America.

read image description

ALT

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Adam Tooze Retweeted

I’d missed this

@BluRoofPolitics

post in July about how South Korea has avoid Japanese-style stagnation: through keeping domestic demand high through an ever rising minimum wage. Korea’s minimum wage is 62% of its median wage. Japan’s is 45%. (US is 47%.) blueroofpolitics.com/post/minimum-w

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Adam Tooze Retweeted

Fabulously suggestive choice by

(17:00) to label the US a “revisionist power” in the case of the Biden escalation against China. US created the status quo (and imposed it upon many, many others) against which it is now rebelling. How far can this frame be extended?

Quote Tweet

@OnesandToozePod

Episode #65: Is Biden Killing the World Trade Organization? Listen now, wherever you get your podcasts

podcasts.apple.com/us/podcast/is-

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Adam Tooze Retweeted

Olga Tuleninova

@olgatuleninova

"Las ruinas romanas de Schönbrunn", 1892 Carl Moll (1861-1945)

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"The scale of Japan’s impact on global markets, note traders, is often remembered late in any cycle."

Uncertainty over Bank of Japan casts a shadow over markets

Lack of clarity on the successor to governor Haruhiko Kuroda adds to questions over yield control policy change

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Polyexcuses: How polycrisis provides asset managers with an all-purpose excuse for underperformance! ft.com/content/a6cbe8

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Adam Tooze Retweeted

“to indulge in the familiar back and forth between declinism and anti-declinism is to indulge in escapist nostalgia”

on the UK adamtooze.substack.com/p/chartbook-18

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Not decline but deconvergence. Chartbook Newsletter #184 on the economic plight of the UK. Sign up for free here: adamtooze.substack.com/p/chartbook-18

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Adam Tooze Retweeted

Replying to

@alex_callinicos

and

Yes, v. interesting as ever from

. Hard to disagree with. Personally I think finer grained analysis is also required re: specifics of the British plight, eg two of my favourite topics: the UK’s real estate obsession & the rent seeking power of the professions (law etc)

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Adam Tooze Retweeted

magazine says that the Russian asset in the BND security service was head of the unit responsible for signals intelligence focused on #Russia. ¯\_(ツ)_/¯

(S+) BND: Warum ein mutmaßlicher Spion Zugang zu brisanten Informationen hatte

Ein Agentenskandal erschüttert den Bundesnachrichtendienst. Ausgerechnet in einer für den Ukrainekrieg extrem wichtigen Abteilung soll ein mutmaßlicher Spion Putins ans Werk gegangen sein. Er hatte...

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Adam Tooze Retweeted

UN Special Rapporteur Richard Bennett

@SR_Afghanistan

statement: #Taliban’s ban on #Afghan women working in #NGOs unconscionable and illegal. Catastrophic for millions of Afghans. We urge its immediate reversal. 👉cutt.ly/E2rBkfa

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Adam Tooze Retweeted

Hyo Yoon KANG 강효윤 - @[email protected]

Replying to

and

Have experienced amazing speed also a couple of days ago, families with small children were actively whisked to free desks, sth I have rarely seen before

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Despite a resurgence of the decline/declinism/anti-decline/revivalism debate in UK, the break that defines political and economic choices since 2009 is measured against a scale of centuries not the period since 1956. Chartbook Newsletter #184 adamtooze.substack.com/p/chartbook-18

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Adam Tooze Retweeted

Hugely grateful to Border Force staff for making Heathrow so much less slow and miserable today by being on strike. Heathrow staffer tells me “there are no passport queues because the Army puts more people on the desks”. Odd how nobody ever figured that solution out before.

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How will a free trade inclined Swedish Presidency of the EU council mesh with trans-Atlantic trade relations dominated by protectionism and industrial policy politico.eu/article/libera Pairs well with Chartbook #182 on Washington's new consensus & the EU. adamtooze.substack.com/p/chartbook-18

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Global Britain. Every time I tell myself it opens my eyes to new solidarities with “all other passports”. Sometimes that helps …. ;)

Quote Tweet

The endless line at Geneva Airport to get through passport control for British passport holders. No queue at all for EU or Swiss citizens

Embedded video

0:07

3.9M views

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Adam Tooze Retweeted

The endless line at Geneva Airport to get through passport control for British passport holders. No queue at all for EU or Swiss citizens 🤷🏻‍♂️

Embedded video

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Wall Street analysts & lobbyists are calling for Fed to ease SLR regs to improve liquidity in the $24tn Treasury market. Again! Impact on Treasuries uncertain. Part of bigger package of Basel endgame.

wrap '22

Wall Street wants capital rules eased to unblock $22tn Treasury market

The Fed will embark on a review of requirements blamed by banks for reducing liquidity

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Adam Tooze Retweeted

I've always found this painting incredibly disconcerting. Following an air raid on 29-30 December 1940, fireman-artist Leonard Rosoman fought fires in London's Shoe Lane, where he witnessed a house collapse on two firemen.#WW2

ART LD 1353 / iwm.org.uk/collections/it

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This graph for UK labour productivity makes it nothing short of perverse to talk about the current situation in terms of familiar narratives of decline. Chartbook Newsletter #184 on nostalgia for decline in the UK. adamtooze.substack.com/p/chartbook-18

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Not giving up: The Bank of Japan continued a run of unscheduled purchases of government bonds in an attempt to control a surge in yields caused by speculators betting it will pivot away from its ultra-loose monetary policy. ft.com/content/e6013a

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Adam Tooze Retweeted

“the current productivity slowdown in the UK is the worst not only in the last 120 years, but in the last 250 years i.e. since the industrial revolution of the 18th century.”

Quote Tweet

Nostalgia for Decline - Chartbook #184 takes on the confused debate in contemporary UK where the problem is not the familiar trope of decline and revivalism but deconvergence. adamtooze.substack.com/p/chartbook-18

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in light of the astonishing stagnation of real wages and productivity, evoking narratives of decline is contemporary Britain is an exercise in nostalgia. This is like nothing we have ever seen before. Check out Chartbook #184 and sign up (for free!) adamtooze.substack.com/p/chartbook-18

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Adam Tooze Retweeted

@MichaelLangham4

It’s often difficult to explain the magnitude of Britain’s decline to people because other than poor public services, the better off don’t necessarily see it. But relative to peer countries, the last decade has been a disaster.

Quote Tweet

Chartbook: Chartbook #184 - Nostalgia for decline in deconvergent Britain adamtooze.substack.com/p/chartbook-18

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Spanish (headline) inflation slowed more than expected in December, raising expectations of an easing in price pressures across the eurozone. ft.com/content/15b5c8

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Adam Tooze Retweeted

Christopher Cramer

@CramerChristoph

engaging with Perry Anderson's NLR essay and desperately depressing, important reading on the Undeveloping Country that is the UK

Quote Tweet

Nostalgia for Decline - Chartbook #184 takes on the confused debate in contemporary UK where the problem is not the familiar trope of decline and revivalism but deconvergence. adamtooze.substack.com/p/chartbook-18

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Adam Tooze Retweeted

Esfandyar Batmanghelidj

The “make Italy great again” discourse has been around a while obviously, but the discussions around decline don’t seem as grave, perhaps because Italian identity and lifestyles are different than in other (formerly) convergent countries? Maybe

has some thoughts?

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Adam Tooze Retweeted

Esfandyar Batmanghelidj

A brutal take on Britain’s decline by

, with the customary comparisons to Italy. Would be cool to read a comparison not just of the data, but also of the discourse of decline in the UK vs. Italy. What are the political + cultural differences?

adamtooze.substack.com

Chartbook #184 - Nostalgia for decline in deconvergent Britain

After a year of political turmoil and financial embarrassment, Britain ends 2022 shaken. There is a new spate of talk about national decline. Once again the UK is falling behind. The outlook is...

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Adam Tooze Retweeted

Xavier Delcourt

"The shock of 2016 cannot by itself explain what really ought to alarm us, namely the astonishing stagnation in productivity and real incomes that now stretches back over more than a decade." Nostalgia for decline in deconvergent Britain by

open.substack.com/pub/adamtooze/

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Politics Theory Other

@poltheoryother

"Throughout the period between World War II and 2007, for all the back and forth about decline, real household disposable income in the UK grew relentlessly on a logarithmic curve. Since 2007 that is no longer the case..." -

adamtooze.substack.com

Chartbook #184 - Nostalgia for decline in deconvergent Britain

After a year of political turmoil and financial embarrassment, Britain ends 2022 shaken. There is a new spate of talk about national decline. Once again the UK is falling behind. The outlook is...

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Adam Tooze Retweeted

Replying to

A great chartbook. In the UK, similarly to failures to invest in health/education, the potential for mass low-productive (wage) immigration to be a cause of productivity stagnation is much discussed. I wonder if you could address that controversy in the 'sequal'?

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Adam Tooze Retweeted

Politics Theory Other

@poltheoryother

Excellent from

on how, for all the ubiquity of declinism talk since Suez, the UK is now in truly uncharted economic territory - an economy characterised by anaemic growth, stagnating incomes, and stalled labour productivity:

adamtooze.substack.com

Chartbook #184 - Nostalgia for decline in deconvergent Britain

After a year of political turmoil and financial embarrassment, Britain ends 2022 shaken. There is a new spate of talk about national decline. Once again the UK is falling behind. The outlook is...

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Nostalgia for Decline - Chartbook #184 takes on the confused debate in contemporary UK where the problem is not the familiar trope of decline and revivalism but deconvergence. adamtooze.substack.com/p/chartbook-18

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Adam Tooze Retweeted

ACEMAXX ANALYTICS

“A #problem becomes a #crisis when it #challenges our ability to cope and thus threatens our identity. In the #polycrisis the #shocks are disparate, but they #interact so that the whole is even more overwhelming than the sum of the parts”

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