Everyone has an opinion on why housing is so expensive in America -- and to be fair, there are probably a lot of reasons for it. But one simple factor is that homes are expensive to build. Unlike many other physical objects, they haven't gotten cheaper over time. So why is this? And why haven't we found a way to bring down the cost curve by building modular housing in factories or on assembly lines? On this episode, we speak with Brian Potter the author of the new book The Origins of Efficiency. Potter also worked at a modular homes startup that failed, and is also the author of the excellent Construction Physics newsletter. So we talk about what he's learned about housing, as well as broader questions about how operational efficiency is achieved over time across a range of industries.

Read more:
Austin, Salt Lake City Top Global List of Most Affordable Cities
Affordable Housing Left Vulnerable After Trump Fires Building Inspectors

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If you go out to eat at a restaurant, whether it's a fast food chain or a Michelin-starred bistro, there's a good chance the ingredients on your plate came from the same source. Sysco is the dominant foodservice distributor in the US, using its massive logistics network to quietly supply the food that goes into meals in thousands of restaurants across the US. Sysco's scale and product standardization have helped define what American dining tastes like -- sometimes literally. But critics say its power has gone too far, leaving chefs and diners with fewer choices and blander outcomes. In this episode, we talk with Austin Frerick, author of Barons: Money, Power, and the Corruption of America's Food Industry, about how Sysco became the middleman shaping America's menus.

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A few years ago, governments and corporations were brimming with optimism about the prospect of getting to net-zero in the efforts against climate change. Today, you hear a lot less about that. And while there's renewables getting added to the mix all the time, one energy source that's really booming is natural gas. And coal is booming too. So what happened? And is there any prospect of the world getting back on track? On this episode, we speak with acclaimed energy historian Daniel Yergin, current Vice Chairman of S&P Global. He's also, of course, the author of the Pulitzer Prize-winning book The Prize, as well as, more recently, The New Map. We talk about all of the factors that changed the energy picture in recent years and the energy priorities of nations right now.

Read more:
Russia’s Crude Shipments Climb Close to a Post-Invasion High
Trump to Buy 1 Million Barrels to Help Refill Oil Reserve

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Some economists expected that the dollar would strengthen when the tariffs were imposed. Instead, the opposite happened. The dollar fell sharply and it's been a poor performer all year. Concurrently, it's been a great year for a lot of dollar-denominated assets, like stocks. Even US Treasuries have rallied this year. So what's going on? On this episode, we speak with recurring Odd Lots guest Hyun Song Shin, Economic Adviser and Head of the Monetary and Economic Department at the Bank for International Settlements. Per his work, the world didn't abandon the US dollar, but it did start hedging exposure to it. We discuss this phenomenon, as well as other risks on the macro landscape.

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The 2010s saw economic weakness across Europe's periphery. Countries like Greece, Spain, Italy, and so forth were the sites of so much stress. In the 2020s, however, it's reversed. The periphery is holding up well, but the industrial core is facing stress. Germany, in particular, the old powerhouse of the continent, has been slammed by the surge in electricity costs and competition with China. Other Northern states have felt similar pain. So what is the future for Europe? Can the EU project itself continue to evolve and integrate? On this episode, we speak with Olli Rehn, governor of the Bank of Finland and a member of the ECB's Governing Council. We discuss the near and medium-term challenges facing the EU and the prospects for finding a robust growth path in the future.

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Gold has been surging. Risky assets (with a few minor hiccups) have also been surging. And yet, central bankers (most notably the Fed) are in rate cutting mode. Why is this? And what kind of risks are being conjured up? On this episode of the podcast, we speak with Raghuram Rajan, a professor at the Booth School of Business at the University of Chicago, as well as the former Governor of the Reserve Bank of India. Rajan famously was one of the first to raise alarms prior to the Great Financial Crisis in 2008. We discuss why financial markets are doing what they're doing and whether central bankers are sufficiently attuned to the growing risks.

Read more:
Gold Holds Drop as Traders Focus on US-China Trade, Credit Woes
AI Stocks Are in a Bubble, Most Investors Say in BofA Survey

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Make sense of the world with one essential conversation, every week. Mishal Husain, one of Britain's best interviewers, brings her signature blend of curiosity and tenacity to weekly conversations with world leaders, business titans, and cultural icons, revealing who they really are and how they see the world changing around them.

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Earlier this year, we traveled along with San Francisco Fed President Mary Daly on a trip to Alaska. You may remember the episodes we did with Mary at the time, as well as business and other leaders in the state. But we also had the chance to sit in with Mary while she talked with her contacts on the ground. On this special episode, you'll hear some of those discussions and get a sense of exactly what happens when a regional Fed president goes out and learns from the community. You'll hear from officials at the Port of Anchorage dealing with the new trade landscape, a company that makes steel tubing for the oil industry coming to grips with tariffs, and from managers involved at the airport, to get a sense of how the Alaskan economy works and the distinct pressures they're facing right now.

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