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The Good Fight

Andrés Velasco on Oil Shocks and Financial Crises

The Good Fight

Yascha Mounk

News

4.7963 Ratings

🗓️ 11 April 2026

⏱️ 56 minutes

🧾️ Download transcript

Summary

Yascha Mounk and Andrés Velasco discuss why the current energy crisis won’t repeat the 1970s—and what dangers lurk in today’s financial markets. Andrés Velasco is the Dean of the School of Public Policy at the London School of Economics and Political Science. He is the co-editor, alongside Tim Besley and Irene Bucelli, of The London Consensus: Economic Principles for the 21st Century. In this week’s conversation, Yascha Mounk and Andres Velasco discuss whether the Middle East war will trigger a 1970s-style economic crisis, why AI valuations could spark the next financial meltdown, and what signs to watch for in predicting future market crashes. If you have not yet signed up for our podcast, please do so now by following ⁠this link on your phone⁠. Email: leonora.barclay@persuasion.community Podcast production by Jack Shields and Leonora Barclay. Connect with us! ⁠Spotify⁠ | ⁠Apple⁠ | ⁠Google⁠ X: ⁠@Yascha_Mounk⁠ & ⁠@JoinPersuasion⁠ YouTube: ⁠Yascha Mounk⁠, ⁠Persuasion⁠ LinkedIn: ⁠Persuasion Community Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:10.0

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0:13.0

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0:15.0

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0:18.0

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0:23.6

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0:27.6

Economic growth is important. You know, you only hear degrowth ideas from citizens of rich countries.

0:34.6

You know, you don't hear that in India or in Africa or in Brazil.

0:38.1

People want to grow.

0:39.4

And now the good fight with Yasha Monk.

0:48.7

Well, for the last few days, I've been finding myself thinking about the world economy.

0:52.9

I'm thinking about its state at the moment.

0:55.7

Is the war in the Middle East leading to a permanent increase in energy prices that might

1:01.5

lead to a new kind of oil shock?

1:03.6

Is this the beginning of a new recession?

1:06.4

How dire is the state of the world economy?

1:08.7

And are we going to remember this as the beginning of a

1:13.2

different world order are we seeing the death throes of an economic world order marked by free

1:21.1

trade by globalization and by American dominance in these days I've also been thinking

1:26.9

about what the right policy approaches to making sure that

...

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