S8 Ep56: The economics of biodiversity

"The Economics of Biodiversity” was published by the UK Treasury in 2021. It sets out how economic systems value biodiversity and natural capital, and which policies would preserve and restore nature. The project leader was Professor Sir Partha Dasgupta of the University of Cambridge. In the latest of our special episodes recorded at the first Hoffmann Centre / CEPR / ReCIPE Conference continue, he tells Tim Phillips what he learned from hanging out with ecologists, why we need indicators of economic performance that value nature, and why we should worry about the decline of natural capital.  The Economics of Biodiversity: The Dasgupta Review https://www.gov.uk/government/publications/final-report-the-economics-of-biodiversity-the-dasgupta-review

Can COP 30 get the green transition back on track? It’s not a great time for international cooperation right now and, with hindsight, was the period from 2017 to 2022 a “golden moment” the climate transition, and was it an opportunity missed? That’s the argument presented by Livio Stracca, Deputy Director General Financial Stability at the European Central Bank, also the chair of NGFS work on climate scenarios. He talks to Tim Phillips about what we can learn from this golden moment, and what can be done this time around to avoid the dangers of what Livio calls “climate agenda fatigue” among both the public and governments. 

In the first of our special episodes from the first Hoffmann Centre / CEPR / ReCIPE Conference, we’re discussing what chances there are of significant multilateral agreements being signed at COP 30 and, given that the chances are low, what plan B might be. Beatrice Weder di Mauro of CEPR, Hoffmann Centre and the Geneva Graduate Institute tells Tim Phillips that, if everyone can’t agree, then coalitions of the willing – climate or finance clubs that offer incentives for the countries that want to join – can agree their own sustainability policies. But what are those incentives? And who will lead?

A decade ago, the UK voted in a referendum to leave the European Union. It was the culmination of years of partisan arguments over membership. During that time, most newspapers in the UK took strong “leave” or “remain” positions in the stories they wrote. But were they less obviously partisan in their choice of pictures too? Wanyu Chung of University of Birmingham and CEPR was one of a team of researchers that used artificial intelligence to estimate the emotional impact of news images of politicians before and after the Brexit vote. Photo: European Union 2016 - European Parliament

The International Macroeconomic History Online Seminar Series, hosted by CEPR, is turning 100 this month — not years, but episodes. What began as a lockdown experiment has become a global fixture for anyone who believes economics never forgets. In a special edition of VoxTalks Economics, Tim Phillips talks with organisers Nathan Sussman and Rui Esteves of the Geneva Graduate Institute about the moments that shaped the series and what a hundred lessons from history can teach us today. Why does history matter so much to economists? And how can the series help us understand current events?  Nathan’s selection The great demographic reversal https://cepr.org/multimedia/imhos-13-great-demographic-reversal-ageing-societies-waning-inequality-and-inflation Monetary and fiscal history of the US https://cepr.org/multimedia/imhos-81-monetary-and-fiscal-history-united-states-1961-2021 The journey of humanity https://cepr.org/multimedia/imhos-37-journey-humanity Rui’s selection The Smoot-Hawley trade war https://cepr.org/multimedia/imhos-26-smoot-hawley-trade-war Financial sanctions https://cepr.org/multimedia/imhos-59-financial-sanctions-arsenal-democracy-or-feeble-weapon Industrial policy https://cepr.org/multimedia/imhos-93-panel-industrial-policy-history

In the second of our episodes based on the topics discussed at the conference “Addressing the Risks and Responses to Climate Overshoot”, organised by the AXA Research Fund, CEPR, and Paris School of Economics, Tim Phillips talks to Matthias Kalkuhl of the University of Potsdam about how to remove carbon from the atmosphere. The innovative technologies that might be able to do this in the future need investment now – so one idea is for firms to buy the right to emit carbon now, as long as they commit to remove carbon when mature technology exists. But to administer this, Europe would need a dedicated Carbon Central Bank. Who would be in charge of it, how would it work, and is any politician brave enough to set it up?

In the first of two podcasts recorded at the conference “Addressing the Risks and Responses to Climate Overshoot”, organised by the AXA Research Fund, CEPR, and Paris School of Economics, Tim Phillips talks to Franck Courchamp of the University of Paris-Saclay about an aspect of climate change that is rarely talked about, increasingly important, and very costly. When plants or animals move, or are moved, to a place they don't belong, there is a risk of damage to natural habitats and an economic cost too. So how do we estimate the size of this risk, and what can we do about it? 

It’s cultural meme that teenagers in New York and Seoul will have more in common with each other than with their parents. Has where we come from been downgraded as an influence on what we like, or is there still what Thierry Mayer of Sciences Po and CEPR calls “gravity in tastes”?  His research focuses on a very important aspect of this question: regional French food. Is there still a France of butter, and a France of olive oil? And, if there is, can we draw it on a map, or is this now a cultural and social divide, rather than a regional one? Vote for VoxTalks Economics in the 2025 Signal Awards! https://talknorm.al/vote

We are up to our necks in advice about how to innovate in business, how to succeed as a founder, or how to spot a great startup. Blogs, YouTube channels and airport bookshops claim to reveal the secret. And yet, investors and incubators have a very patchy track record in picking winners.  What if there was a better way to spot entrepreneurs who are more likely to succeed? Konrad Stahl of University of Mannheim is one of a team of researchers who have found one indicator of success that dominates all the others. He tells Tim Phillips what it is, and why it matters.

Today generative AI makes it easy to create and distribute convincing fake news stories, pictures, even videos. We’ve all been hoodwinked – but does that undermine our trust and confidence in the mainstream media? Ruben Durante of National University of Singapore, IPF-ICREA and CEPR is one of the authors of new research that tests how AI-generated misinformation affects our desire for real news. He tells Tim Phillips the good news and bad news for the future of the media’s business model.