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“The world discovered that John Maynard Keynes was right when he declared during World War II that ‘anything we can actually do, we can afford,’” writes Adam Tooze. “Budget constraints don’t seem to exist; money is a mere technicality. The hard limits of financial sustainability, policed, we used to think, by ferocious bond markets, were blurred by the 2008 financial crisis. In 2020, they were erased.”Tooze is an economic historian at Columbia University, co-hosts the podcast “Ones and Tooze,” writes the brilliant Chartbook blog and is the author of “Crashed,” the single best history of the 2008 financial crisis. He’s now out with a new book, “Shutdown: How Covid Shook the World’s Economy,” which tells the story of the unprecedented global economic response to the pandemic.The central thread of Tooze’s work is how the past decade of crises has upended many of the core assumptions that have guided economic policymaking for the past 50 years — including ones that many contemporary economists and policymakers continue to cling to. So that’s what we mainly talk about here. But we also discuss how the boundaries of acceptable thought in the economics profession are policed, the actual risk of runaway inflation, the limits of green monetary policy, the fight over Jerome Powell’s reappointment as Fed chair, what the Covid crisis reveals about our ability to respond to the climate crisis, the need for a supply-side progressivism and more.Mentioned: “Declining worker power and American economic performance” by Anna Stansbury and Larry Summers “The green swan: Central banking and financial stability in the age of climate change”Book recommendations: The Deficit Myth by Stephanie KeltonStalingrad by Vasily GrossmanEssays in Persuasion by John Maynard KeynesYou can find transcripts (posted midday) and more episodes of "The Ezra Klein Show" at nytimes.com/ezra-klein-podcast, and you can find Ezra on Twitter @ezraklein. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.“The Ezra Klein Show” is produced by Annie Galvin, Jeff Geld and Rogé Karma; fact-checking by Michelle Harris; original music by Isaac Jones; mixing by Jeff Geld, audience strategy by Shannon Busta. Special thanks to Kristin Lin. Subscribe today at nytimes.com/podcasts or on Apple Podcasts, Spotify and Amazon Music. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“If he got a thrill out of transforming these ill-gotten goods into legit merchandise, a zap-charge in his blood like he’d plugged into a socket, he was in control of it and not the other way around,” writes Colson Whitehead in his new novel, “Harlem Shuffle.” “Dizzying and powerful as it was. Everyone had secret corners and alleys that no one else saw — what mattered were your major streets and boulevards, the stuff that showed up on other people’s maps of you.”Whitehead is the author of “The Underground Railroad,” which won the Pulitzer Prize and the National Book Award, and “The Nickel Boys,” which also won a Pulitzer, the first time two consecutive books by an author won. But he actually started “Harlem Shuffle” in between those two books. And now that he’s finished it, he can’t quite put it down. He’s working on a sequel, he told me. The first time he’s tried one.“Harlem Shuffle” is both a joyous and a troubled book. It’s built around Ray Carney, a furniture salesman and fence for stolen goods, and a series of capers around 1960s-era Harlem. But at its core it’s about patrimony, capitalism, ambition, race and the moral costs of striving in an unjust system.We talk about all that, and more: how Marvel Comics made Whitehead want to be a writer, how parenthood changed him, why he hopes to distill it all down to a haiku, whether the writing world is a just or unjust system, the nature of zombies, the nonfiction of the late-Aughts internet, the legacy of 9/11, his favorite heist movies, what his wife thinks his characters know that he doesn’t — and I could keep going.This one’s a fun one.Mentioned: "Wow, Fiction Works!" by Colson WhiteheadHarlem Shuffle by Colson WhiteheadThe Underground Railroad by Colson WhiteheadThe Nickel Boys by Colson WhiteheadZone One by Colson WhiteheadSag Harbor by Colson WhiteheadThe Noble Hustle by Colson WhiteheadBook recommendations: Love Goes to Buildings on Fire by Will HermesThe Buddha in the Attic by Julie OtsukaWhen the Emperor Was Divine by Julie OtsukaMad As Hell by Dave ItzkoffYou can find transcripts (posted midday) and more episodes of "The Ezra Klein Show" at nytimes.com/ezra-klein-podcast, and you can find Ezra on Twitter @ezraklein. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.“The Ezra Klein Show” is produced by Annie Galvin, Jeff Geld and Rogé Karma; fact-checking by Michelle Harris; original music by Isaac Jones; mixing by Jeff Geld, audience strategy by Shannon Busta. Special thanks to Kristin Lin. Subscribe today at nytimes.com/podcasts or on Apple Podcasts, Spotify and Amazon Music. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tyler Cowen is an economist at George Mason University, the co-founder of the blog Marginal Revolution, and host of the podcast “Conversations With Tyler.” But more than that, he’s a genuine polymath who reads about everything, goes everywhere and talks to everyone. I’ve known him for years, and while I disagree with him on quite a bit, there are few people I learn more from in a single conversation.In this conversation, I wanted to get at the connective thread in Cowen’s work: the moral imperative of economic growth. Growth doesn’t have the best reputation in left-wing circles these days, and often for good reason. It’s hard to look at a world where rising G.D.P. has driven rising temperatures and shocking inequality, and then to continue venerating growth as an all-encompassing good.Cowen admits those criticisms — particularly the climate one — but still argues that growth, properly measured, is central to a moral economy. The East Asian economic miracles are, he’s written, “the highest manifestation of the ethical good in human history to date.” Time, he argues, is a “moral illusion,” and the most important thing we can do for the future is set the power of compounding growth to work now. We do that by generating new ideas, new technologies, new ways of living and cooperating. And that, in turn, requires us to find and nurture human talent, which is where his recent work has focused.So we begin this conversation by discussing the case for and against economic growth, but we also get into lots of other things: why Cowen thinks the great stagnation in technology is coming to an end; the future of technologies like A.I., crypto, fourth-generation nuclear and the Chinese system of government; the problems in how we fund scientific research; what the right has done to make government both ineffective and larger; why Cowen is skeptical of universal pre-K (and why I’m not); whether I overestimate the dangers of polarization; the ways in which we’re getting weirder; the long-term future of human civilization; why reading is overrated and travel is underrated; how to appreciate classical music and much more.Mentioned: The Great Stagnation by Tyler Cowen Stubborn Attachments by Tyler Cowen “Beyond GDP? Welfare across Countries and Time” by Charles I. Jones and Peter J. Klenow (No book recommendations on this one, but tune in for some classical music and travel recommendations) You can find transcripts (posted midday) and more episodes of "The Ezra Klein Show" at nytimes.com/ezra-klein-podcast, and you can find Ezra on Twitter @ezraklein. Book recommendations from all our guests are listed at www.nytimes.com/article/ezra-klein-show-book-recs.Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.“The Ezra Klein Show” is produced by Annie Galvin, Jeff Geld and Rogé Karma; fact-checking by Michelle Harris; original music by Isaac Jones; mixing by Jeff Geld, audience strategy by Shannon Busta. Special thanks to Kristin Lin. Subscribe today at nytimes.com/podcasts or on Apple Podcasts, Spotify and Amazon Music. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.