Lots More With Isabella Weber on Draghi's EU Competitiveness Report
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What is Mario Draghi’s EU Competitiveness Report and why does it matter now?
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Hello, how are you? It's so good to see you. It's nice to have Yeah, of course. It's nice to be able to do this in person as well. So I saw I think you tweeted it, but you're here for an event, right? With Adam too. Yes. We just had him on, uh his episode came out today. So this is like a nice a nice segue. Um you're gonna be sat right here.
I'm not gonna read from the notes, I just took some notes on the report because there's so much in there. I don't know. That's
good, 'cause it's four hundred pages and I didn't read all of it. Joe, is there anything more European than Mario Draghi writing a four hundred page report on how to boost European productivity?
That's perfect. I did a deadlift. One, two, three.
Okay, good. What's it? Uh barges.
This is an after school special, except
I've decided I'm gonna base my entire personality going forward on campaigning for a strategic pork reserve in the US.
Where's the best with ink costin?
These are the the important questions. Is it robots taking over the world? No, I th No,
I think that like in a couple of years the AI will do a really good job of making the Outlaws podcast. And people say, I don't really need to listen to Joe and Tracy anymore. We do have Cha Ching? The perfect guest?
You're listening to Lots More, where we catch up with friends about what's going on right now.
Because even when the odd lots is over, there's always lots more.
And we really do have the perfect guest. So that report came out this week and it was sort of long awaited. I think it was delayed in the end, which also seems very European, but it took a year to write. And it's all about how to make Europe more competitive.
Right. We talked about this a little bit on a recent episode with Adam Tos, some of the issues in German. There does seem to be a lot of anxiety about the state of the European economy in general, getting really squeezed on the manufacturing side, the energy side. Growth has been quite mediocre there, particularly if you compare it to the United States. I think there was a good chart in the Draghi report itself. Talk about at one point European was like fifty fifteen percent is big and the gap is widened versus the United States. It's not good. It doesn't seem good.
Oh yeah, Isabella, didn't you tweet that chart? I did. So look looking at that chart I think we can basically see that with every crisis there's a bit of a divergence between the US and Europe and it seems that the US is pretty good at bouncing back. Europe not so much, which has to do with the fiscal rules, I think.
So we are here with Isabella Weber. She is, of course, an economics professor at University of Massachusetts Amherst. And she's been on the podcast a number of times. But it's interesting to see this report come out and actually touch on a number of topics that you have addressed through your work on pricing and shockflation.
Yeah, thanks so much for having me on. It's a great opportunity to talk shockflation in the report. Maybe looking at this uh divergence convergence thing twenty eight, twenty twenty, I think that the energy crisis actually looms very large here and the notion that was very prevalent in twenty twenty two in Germany that basically this is just like a little little shock that we can easily absorb that was very dominant in certain economics uh circles.
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Chapters
4 chapters
1
What is Mario Draghi’s EU Competitiveness Report and why does it matter now?
0:00–14:01
2
How does Isabella Weber summarize the main findings of Draghi’s report?
14:01–21:10
3
Why does the report link Europe’s productivity gap to German fiscal austerity?
21:10–29:33
4
What role do energy‑price shocks and carbon pricing play in Europe’s competitiveness?
29:33–33:58
Speakers
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