Bloomberg Benchmark

Almost one-tenth of Denmark's labor force is made up of foreign workers. But with quality of life standards increasing in eastern European countries, many of these people are considering returning to their native nations. Karen Haekkerup, CEO of the Danish Agriculture and Food Council, talks with Scott Lanman of Bloomberg News and Daniel Moss of Bloomberg View on what this means for Denmark, which is already facing a severe labor shortage.

This month, Bloomberg is excited to bring you a brand new show. Every Friday on What'd You Miss This Week, we'll feature the most interesting interviews from Bloomberg's daily market close show, "What'd You Miss" hosted by Scarlet Fu, Julia Chatterley and Joe Weisenthal. We want to take you beyond the headlines and bring you a unique perspective on the week's top stories, and those you may just have missed. It's the perfect way to kick off your weekend. Be sure to subscribe now, so you don't miss a thing!

Amazon, JPMorgan Chase and Berkshire Hathaway recently announced they're joining forces to tackle America's expensive health care system. Health care is probably the most reliably growing piece of U.S. GDP -- and until recently, a strong driver of inflation -- but that could change as Amazon moves into that space. Scott Lanman of Bloomberg News speaks with Bloomberg reporter Spencer Soper and economist Laura Rosner of MacroPolicy Perspectives about Amazon's history of disrupting industries, and whether or not our current health care system could go the way of bookstores.

You may have heard of a gender-pay gap in America, but here's a statistic that's really eye-opening: Workers at men's apparel stores earn 56 percent more than employees at womenswear retailers. It's a huge gap, and yet it can be explained in part by supply and demand -- and could even be a sign that worker pay will finally pick up more broadly across the U.S. Bloomberg reporters Katia Dmitrieva and Lindsey Rupp join Benchmark to discuss the topic with Scott Lanman of Bloomberg News and Daniel Moss of Bloomberg View. 

What happens to someone's land when the owner dies? In Japan, no one knows. In fact, no one knows who owns more than 10 percent of the nation's landmass -- about 16,000 square miles, equivalent to the size of Denmark. Without knowing who owns the land, it can't be sold or redeveloped -- and that limits economic growth or prevents the government from collecting taxes, at a time when Japan is already suffering from severe depopulation outside of major cities. Bloomberg reporter Yoshi Nohara discusses the issue with Scott Lanman of Bloomberg News and Daniel Moss of Bloomberg View.

An online discussion board where women are frequent subjects of vitriolic attacks. A lack of diversity in top positions. Strong evidence of discrimination against females. These are all issues that the economics profession is grappling with as part of a broader reckoning with sexual harassment and misconduct in American society. Economist Heidi Hartmann discusses these issues and her petition drive to address misogyny in the field, while Bloomberg reporter Jeanna Smialek talks about her recent coverage of this topic with Daniel Moss of Bloomberg View and Scott Lanman of Bloomberg News.

The American South will keep rising and Dallas will eclipse New York. The city that never sleeps has had its obituary written plenty of times, but it may just have met its match in native son Donald Trump. His tax-cut law is more than just a deficit-busting giveaway to the rich; it affirms the economic and political rise of the South. Even New York's famed cultural and intellectual scene is in jeopardy along with financial primacy. Jared Dillian, publisher of the `Daily Dirtnap' and a Bloomberg View contributor explains how to Dan and Scott.  

Whether the U.S. tips into recession this year or not, chances are you won't hear about it until well after it happens. That's because the decision on whether the economy is in a serious slump or merely having a bad day rests with a little-known group of academics who deliberate behind the scenes. Ten years after the economy entered the worst downturn since the Great Depression, the group's chair, Stanford University professor Robert Hall, gives Dan and Scott an inside look into how the panel makes its calls -- and shares his thoughts on whether another recession could be in store soon.

What will be the most surprising economic development of 2018? Who will be the most influential people that you haven't heard of? What kind of non-economic developments will have biggest impact? Benchmark delivers answers from around the world in part two of our year-end special. Joining Dan and Scott to give their picks are three members of Bloomberg's global economy team: European editor Jana Randow, Latin America editor Vivianne Rodrigues and Asia correspondent Enda Curran.

What was the year's most surprising economic development? Who were the most influential people that you haven't heard of? What were the non-economic developments that had the biggest impact? Benchmark goes around the world to deliver the answers in part one of our year-end special. Joining Dan and Scott to give their picks are three members of Bloomberg's global economy team: European editor Jana Randow, Latin America editor Vivianne Rodrigues and Asia correspondent Enda Curran.

America's GDP is growing at an amazing 3 percent! Unemployment is at the lowest level in 16 years! The stock market is reaching a new record high every day! The U.S. economy is just going to keep on booming, right? Well, not so fast. The stock market might be surging, but the bond market is painting a more nuanced picture. David Ader, chief macro strategist at Informa Financial Intelligence, joins Dan and Scott for a tutorial on Treasuries. 

Wait! There wasn't a trade war this year. Wasn't Donald Trump's election supposed to mean a rejection of open commerce between nations? Bloomberg's Andrew Mayeda explains the surprise increase in goods and services exchanged across national boundaries. Don't think the protectionist bullet's necessarily been dodged; there's more going on than just Trump. Arancha Gonzalez, executive director of the International Trade Center tells Dan and Scott what more needs to be done. Gonzalez shares her perspective on China's expanding role in the international system and opines on Xi Jinping's big speeches in Davos and Geneva.

For many women and an increasing number of men, it's been hard to get a job again if you take some time off for family reasons and have a long gap on your resume. But that's starting to change in the U.S., where the unemployment rate is at the lowest in almost 17 years. With the labor market getting tighter, companies are looking at potential workers they previously might not have considered. Carol Fishman Cohen, a consultant who helps companies develop programs for returning workers, shares her story of returning to work after having four children and talks about how she is getting companies to take a look at more workers like her. Bloomberg reporter Craig Torres also joins to explain the trend to Dan and Scott. 

Money goes where it's treated best. That simple truth is a big reason why more and more money—trillions, in fact—flows into a powerful, low-cost tool that's quietly transformed investing in recent years. Exchange-traded funds, or ETFs, let you invest in everything from the stock market to gold like never before. This podcast will demystify them—and delight you in the process.

Benchmark takes the week off for the Thanksgiving holiday and re-runs an episode from March. Post-industrial Midwestern America helped propel Donald Trump to the nation's top job. You've heard that a hundred times. But did you hear about St Louis? A wave of Bosnian refugees, many of them Muslim, arrive in the city, starting in the mid-1990s. The result: a surge in business and job creation, revitalization of the community and help in the transition from a manufacturing to a service economy. Sadik Kukic tells Dan and Michelle about his journey from Balkan concentration camps to a pillar of the local community: He's now president of the Bosnian Chamber of Commerce. What could be more American?

Figuring out the global economy has always involved looking at the data. But only in recent years has big data, such as that contained in satellite imagery, become a factor in helping understand what's going on. One place where it's particularly useful is China, where official figures are far less comprehensive than in the U.S. and most other developed nations. It's also provided badly-needed insight into poverty across Africa. Scott and Dan get the scoop from UC-Berkeley professor Joshua Blumenstock and Bloomberg China economy editor Jeff Kearns. 

By picking Jerome Powell to replace Janet Yellen as Federal Reserve chief, President Donald Trump is making a historic gamble that his five predecessors did not: appointing a new leader of the central bank in his first term instead of retaining the existing one. That move could have massive ramifications for the U.S. and global economies. But how did the Fed get so powerful? And how powerful is it really? Peter Conti-Brown, a professor at the University of Pennsylvania, joins Scott and guest host Chris Condon, a Federal Reserve reporter at Bloomberg, for a deep dive into the Fed's history and how Powell fits in. 

Mexico just didn't see it coming. The free-trade backlash and anti-Mexican rhetoric that helped fuel Donald Trump's rise came as a surprise to officials and executives in the U.S.'s southern neighbor. Now they are scrambling to save not just NAFTA, but an entire economic model based around global supply chains and ever closer ties with the U.S. Thrown into the mix are elections in Mexico that could propel their own populists into the presidency and congress. Shannon O'Neil from the Council on Foreign Relations explains the stakes to Dan and Scott. Intriguing footnote: Maybe the NAFTA debate is really about China. 

The biggest challenge refugees face is economic. A couple of financial market insiders are here to help and have recruited some of the biggest names on Wall Street. PIMCO's Greg Sharenow and Trailstone's Michelle Brouhard tell Dan and Scott about their foundation, Interfaith Refugee Project, and how to integrate refugees into the U.S. economic fabric. It's also personal: Greg describes his grandmother's flight from 1930s Germany through Panama.

How do you create a new country? For Catalonians looking for independence from Spain, secession can give you an emotional high, but what about the bills? Every nation needs a sense of identity and community, of shared heritage and geography. That won't feed people. There's revenue to be collected and bills to be paid, not to mention possibly issuing currency and creating a central bank. And don't forget about picking up the trash. Bloomberg's Maria Tadeo and Maxime Sbaihi explain the building blocks of statehood to Scott and Dan.