In this episode, Max and Professor Tirthankar Roy discuss India's economic history, focusing on trade and commerce from antiquity right up to the modern day. It is a journey through regional economies, the role of ports, the impact of the caste system, British colonization and post-independence industrialization.

India in the World Economy: From Antiquity to the Present

Cambridge University Press: https://www.cambridge.org/core/books/india-in-the-world-economy/9079E07A2697FB6A122BEBFE3CC6FA13

Amazon: https://www.amazon.co.uk/India-World-Economy-Antiquity-Approaches/dp/110740147X

Professor Tirthankar Roy

https://www.lse.ac.uk/people/tirthankar-roy

Timestamps

00:00: Intro

00:39: India’s Economy (Antiquity to 1200)

12:04: Sources for Indian Economic History

15:46: An Agricultural Economy

20:28: Climate/Droughts

25:50: Caste Economics

32:11: Mughal Empires (1200 to 1600)

36:26: European Settlements/Traders (1600 to 1800)

41:59: The British Raj

53:08: Indian Socialism (1940’s to 1990’s)

59:04: Religion & Commerce

01:05:25: Future of the Indian Economy

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In this episode, Professor Thiemo Fetzer dissects how austerity policies since 2008 have reshaped society, fueled distrust in public institutions and sparked political upheaval (ultimately resulting in its influence over the EU referendum). He reveals surprising insights regarding how structural transformations, immigration incentives, and age demographics influence national identity and support for populist movements.

Professor Thiemo Fetzer https://www.trfetzer.com/

Did austerity cause Brexit? https://www.aeaweb.org/articles?id=10.1257/aer.20181164

Timestamps

00:00: Intro

00:39: Did Austerity Cause BREXIT?

19:09: Effects of the 2008 Financial Crisis

29:25: Implementation of Austerity (UK)

35:33: Thiemo’s Research Paper

44:35: How Benefits Recipients Affect the Economy

48:37: How the High Street Changed/Regional Identities

53:35: Regional Wealth Inequality in the United Kingdom 56:14: What Were the Alternatives to Austerity?

01:08:17: Effects of Ageing Demographics & Generous Pensions

01:24:26: What Don’t We Understand About Austerity & BREXIT?

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In this episode, we dive into the Sujaan Initiative, a community-focused program that trains and supports female and minority entrepreneurs in Mirpur Khās, Pakistan. The discussion covers how working with local male leaders fosters local buy-in, the gender and regional disparities the project tackles and the financing and governance hurdles to scaling the model across more regions.

Professor Ahmad Timsal:

https://www.derby.ac.uk/staff/ahmad-timsal/

‘Sujaan: a social enterprise of socio-economically disadvantaged women in rural Sindh, Pakistan’:

https://derby-repository.worktribe.com/output/735857/sujaan-a-social-enterprise-of-socio-economically-disadvantaged-women-in-rural-sindh-pakistan

Timestamps

00:00: Intro

00:49: The Sindh Region (Pakistan)

08:45: The Sujaan Project

14:33: Ahmad’s Motivation for the Research

17:59: Gender Disparities in Pakistan

23:20: Getting Community Buy In

31:44: Is There Support for Sujaan?

36:28: Sindh’s Feudal Mindset

45:32: How Sujaan is Providing Support

50:46: The Effects of Sujaan on the Region

54:15: What’s Next?

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Discover how war reshapes economies beyond the battlefield. Economist Clifford Thies reveals the hidden costs of conflict, from GDP distortions to social capital destruction. Learn why some nations recover faster and how institutional strength and financial strategies play a crucial role. Essential insights for anyone interested in the true economic impact of war.

Professor Clifford Thies

https://www.su.edu/faculty-staff/faculty/clifford-f-thies/

‘The Effect of War on Economic Growth’:

https://www.cato.org/cato-journal/winter-2020/effect-war-economic-growth#

Timestamps

00:00: Intro

00:41: What Happens to an Economy When War Breaks Out?

01:24: Clifford’s Research (Defining ‘War’)

04:23: How to Finance War

07:22: Clifford’s Research (What Data was Used?)

14:08: Post War Recovery (Strength of Pre-War Institutions)

20:31: Poor Post-War Recoveries (Examples)

24:22: Democratic VS Command Economies (India VS China)

29:12: Are Trade Sanctions Effective? (In War or Peace)

38:42: The Peace Dividend

43:35: Key Takeaway from Clifford’s & Other Research

46:57: What Will Russia’s Post-War Economy Look Like?

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Explore the intricate evolution of Russia's economy, from Tsarist infrastructure to Soviet command systems to Russia’s modern-day challenges. Economist Richard Ericson delves into the sustainability of Russia's resource-driven growth, the impact of geopolitical tensions, and the looming risks of its current economic model. This episode offers a rare glimpse into the forces shaping one of the world's most consequential nations, perfect for those interested in geopolitics and economic resilience.

Professor Richard Ericson:
https://scholar.google.com/citations?user=UOLZdsYAAAAJ&hl=en

“The Classical Soviet-Type Economy: Nature of the System and Implications for Reform”:

https://www.aeaweb.org/articles?id=10.1257/jep.5.4.11

Timestamps:

00:00: Intro

00:41: Context for the Russian Economy of Today

02:29: Soviet Era Economics

14:36: Structure of the Soviet System

18:21: Soviet Economy: Comparisons to Other Economies

25:05: Imperial (Tsarist) Russian Economy

30:17: Transition to Communism

38:26: What People Misunderstand About the Soviet Union

41:48: Collapse of the Soviet Union

48:50: The Modern Russian Economy

56:35: Russian Economy too Resource Dependent?

59:30: Wartime Economy (Ukraine War)

01:10:30: The Future of the Russian Economy

01:16:24: Richard’s Final Thoughts

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In this episode, we explore the impact of trade openness on India's economy with economist Pavel Chakraborty. Discover how Chinese imports have lowered prices but challenged Indian firms' profits. Learn about the effects of tariffs, the role of India's manufacturing sector, and the strategic implications for future growth. Perfect for those interested in trade policy and economic development

Professor Pavel Chakraborty

https://pavelchakraborty.weebly.com/

‘Chinese Import Competition and Prices: Evidence from India’:

https://onlinelibrary.wiley.com/doi/abs/10.1111/obes.12632

Timestamps

00:00: Intro

00:41: India’s Manufacturing Sector

06:16: Why Has China Dominated Global Manufacturing Instead of India?

14:50: India’s Trade Openness

18:00: Tariff Rates (Developed VS Developing Economies)

22:03: Effects of Cheap Chinese Imports on India Manufacturing

34:38: Effects of Cheap Chinese Imports on the Wider Indian Economy

39:40: Why ‘Stand Alone Firms’ Responded Stronger than Other Firms

42:35: The Impact on Other Asian Countries

46:42: Changing Global Tarriff Policies

49:28: Future of Indian Trade Policy

57:02: What Future Research Needs Conducting?

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In this episode, I sit down with general education economist, Professor Panu Pelkonen, to explore the evolution of Peru's education system, focusing on the challenges and reforms from 2010 to 2016. The discussion highlights urban-rural disparities, the impact of increased public spending, and the shift in educational outcomes. Key topics include the role of political stability, privatization in education, and the link between educational improvements and economic growth.

Professor Panu Pelkonen: https://profiles.sussex.ac.uk/p258681-panu-pelkonen

‘Public Gains, Private Strains: Public Investment and Private Schooling in Peru’: https://users.sussex.ac.uk/~saef20/BA_Privatisation.pdf

Timestamps:

00:00: Intro

00:38: Background on Peru's Education Sector

03:27: Regional Education Disparities

06:59: Peru Ramps Up Public School Investment

12:53: Comparisons to Other Countries

15:36: Outcomes of Public School Investment

22:55: What Happened to the Private Schools?

29:30: Education Spending & Economics

35:24: Did The Investment Reduce Regional Inequality (Internally & Externally)?

40:08: What Needs Improving?

45:04: What Future Research Could Capitalize on the Findings of Panu's Research

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In this episode, we delve into the complexities of the ancient Roman economy with expert insights from Kimberly Bowes. Discover how ordinary Romans navigated a world of intricate financial systems, from the use of financial instruments to the role of slave labor. We explore the surprising similarities and stark differences between ancient and modern economies, shedding light on the economic lives of the Roman 90%. Join us for a fascinating journey through history, economics, and the enduring human spirit.

Professor Kimberley Bowes: https://www.classics.upenn.edu/people/kim-bowes

Surviving Rome: The Economic Lives of the Ninety Percent Amazon: https://www.amazon.com/Surviving-Rome-Economic-Ninety-Percent/dp/0691273332

Audible: https://www.audible.co.uk/pd/Surviving-Rome-Audiobook/B0G1N5R6Q2?qid=1768054226&sr=1-1&ref_pageloadid=not_applicable&pf_rd_p=c6e316b8-14da-418d-8f91-b3cad83c5183&pf_rd_r=D5KPXVBHTT8F3GXM4WT2&plink=PqJXKKoVo8FtuPZm&pageLoadId=9d4eSDx5OCB7RJGL&creativeId=41e85e98-10b8-40e2-907d-6b663f04a42d&ref=a_search_c3_lProduct_1_1

Timestamps

00:00: Intro

00:42: The Economy of Ancient Rome

06:17: Tax Mix of the Roman Empire

12:23: How Similar is the Ancient Roman Economy to the Modern Day?

17:33: Is the Past a 'Foreign Country'?

20:38: How Can We Measure the Roman Economy?

25:39: Why Britain, Pompeii & Egypt?

29:30: Does Commercial Construction Facilitate Archaeology?

36:01: Was There Social Mobility in the Roman Empire?

40:58: Slavery in the Roman Economy

48:46: Currency in the Roman Empire

54:19: Did the Military Collapse the Roman Economy?

01:00:19: 'Rifling Through the Pockets of the Dead'

01:03:40: Closing Remarks

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