In early 2025, I hosted the legendary economist and Nobel laureate Paul Krugman on my show.

We never released it in the podcast feed, but it really is too relevant to leave in the archives,

so we're sharing it now.

In that conversation, Paul and I covered the most critical economic questions raised by artificial intelligence.

We explored whether today's tech and AI valuations

looked more like a genuine productivity boom or a replay of the late 1990s. We investigated why

the US is pulling away from Europe, whether AI might substitute for globalisation and what that

might mean for emerging economies. And we asked what happens to workers and communities

as this technology transition unfolds.

Listening back, it's a really sharp guide to the economic backdrop

for everything we now discuss on exponential view.

Enjoy.

We need to talk about the economy in 2025

and what's going on.

I know you've got opinions.

So why don't you start with your view of where we are in 2025, a sort of short-term horizon,

headwinds or tailwinds, and then I'll respond to that.

Okay.

So, I mean, we are very close to a Goldilocks economy in the United States.

Unemployment is low historically.

Inflation is low historically.

It's a little bit above the, you know, we have an official target of 2% inflation,

...