4.6 • 1.7K Ratings
🗓️ 25 June 2021
⏱️ 44 minutes
🧾️ Download transcript
As America reopens, new business creation is at record levels and there is upward pressure on wages for the first time in decades. How has the pandemic restructured the American economy?
The Economist’s editor-in-chief Zanny Minton Beddoes joins the panel. President Obama’s former chief economist Jason Furman assesses the shift in fiscal policy. And Ryan Avent, our economics columnist, looks at the strange labour market.
John Prideaux hosts with Jon Fasman.
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0:00.0 | Made in Finland, freedom of the seas was the world's largest ship when it first set sail |
0:07.2 | in 2006. There's room on board for more than 4,000 passengers and the 1300 strong crew |
0:14.2 | needed to keep them happy 24-7. On deck there's a three-story waterslide, a surf simulator, |
0:21.2 | and of course crazy golf. When the Caribbean sun gets a bit much, there's an ice rink |
0:26.1 | down below. This week, the freedom of the seas became the first cruise ship to set sail |
0:31.4 | from Miami in 15 months. For now, the only people unleashing any lingering lockdown tension |
0:37.4 | at the laser tag are employees of the Royal Caribbean cruise company and their families. |
0:42.0 | It's a test forage. The paying customers booked onto a sister ship, the odyssey of the |
0:47.1 | seas, will get refunds after eight crew members tested positive for COVID. Despite the setback, |
0:53.9 | Royal Caribbean share price continues to inch back to pre-pandemic levels. It's a familiar |
0:59.7 | story of expectation and frustration as the vast American economy reflots. This is checks |
1:07.4 | and balance. I'm John Prado, the economist's US editor. Each week we take one big theme |
1:17.5 | in shaping American politics and explore it in debt. |
1:23.1 | Today, how has the pandemic reshaped the American economy? |
1:38.6 | As the country reopens, businesses are having trouble hiring even as millions remain unemployed. |
1:44.8 | New business creation is at record levels and there's upward pressure on wages for the |
1:48.6 | first time in decades. How might this unusual recovery change the political landscape? |
1:55.6 | In this episode, we'll find out what's going on in the labour market. Look back to when |
1:59.8 | the power of American workers was of its peak. And hear the concerns of President Obama's |
2:05.0 | former chief economist, Jason Furman. |
2:20.4 | With me to discuss all of this are the economist's US digital editor, John Fasman, and our |
2:25.9 | editor-in-chief, Zannie Minton-Bettos. This is a special episode for a couple of reasons. |
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