Aware of her work which is excellent. Can't stress too much that this whole agenda must be the central debate the whole of the UK must have if we are going to have headroom to fix anything at all.
@@TheBurdenOfHope you will see I wasn't necessarily advocating degrowth although that is an interesting subject depending on what is meant by it. I would prefer optimised growth.
@TheBurdenOfHope move to the uk we've had degrowth, its great. We now have way more kids starving than we did 20 years ago. If you're into sadism youd love it.
@@mattwright2964 If Britain can manage population expectation, then by all means de growth. The issue is we have an aging population, and the social and health costs of us- that me :) - contributes to drain on tax revenues. I d like to be deported to scilicy myself ! :)
Fearmongering in the press by people like Peston is why we had austerity, and why Labour are so incredibly scared of saying anything an inch away from the Tories.
You realise that austerity had to happen right? You can’t keep borrowing and borrowing. We pay roughly £250m per day on interest alone and that compounds. Imagine a personal credit card with 3m owed to the bank and no ability to declare bankruptcy. If you to invest, you have to tackle debt first
We spent 4bn on interest last year!! 4bn of our money gone and not even to tackle the debt. We can put that money into public services, but you have to tackle it first and cut debt. Can only do so but cutting spending and increasing growth
Yes, but what austerity? There were never any real spending cuts, they just closed libraries and turned off streetlights. If any savings were made, they certainly weren't used to reduce the national debt, which remains largely unchanged since the 2007 financial crisis.
This is overall absolutely fantastic, and I've shared highlights with many friends and colleagues. One minor gripe: I found Peston's question about the lack of leadership to be typical of media efforts to find someone to blame, which wasn't really relevant to this insightful discussion on economics. The answer was a polite disagreement, I thought - although it began with a loose 'yes', it then came round to the point about it being a failure of the entire economic (and political) system, not specific failures of our leaders. And yet Peston still took this as the main takeaway from the podcast in the wrap-up at the end! It seemed an example of hearing what he wanted to hear rather than what she actually said. Said with no malice at all - well intentioned feedback.
And the key to much of this, of course, is to understand the mechanics of the monetary system itself, which few do unfortunately. Marianna is familiar with the work of MMT, which gets the beating heart of this, but if we are to get into that mission orientated mindset she speaks in understanding public purpose and value, which is fundamental in directing investment (public and private) then a much needed upgrade of a macroeconomic framework is essential.
I would very much like to see women with the Wisdom of this lady in key leadership positions. The changes would be radical for the working class👏👏👏Thank you
As a progressive centre-left, living in a rural area, who has enjoyed professional careers in both catering and carpentry, this is music to my ears. We live in country with very productive farmland, a weather system perfect for green energy, and a proven track record of innovation and scientific success. It is not a stretch to imagine a forward thinking government harnessing these resources and investing responsibly in projects that create both economic and social benefits. Free school meals are an excellent example of how businesses and communities would gain from inter-sectoral co-operation; from farm to plate, via logistics, catering machinery, construction, IT support and so on. The UK is the largest financial services exporter in the world; we should easily be able to attract the private sector, by increasing public investment, liaising with academics and field-specific experts, and utilising our skilled workforce. We have the potential to make our own trains, ships, tractors, wind farms and so much more; we just need someone with the vision, and the guts, to make it happen.
It's nice to talk about potential without thinking about the yawning gap between that potential and reality. If it's so easy, why has growth barely moved this past 25 years? And no, in a global marketplace you can't produce sophisticated technologies just for your own country, because R&D is expensive, and access to capital to fund that is predicated on access to markets. You'll guess where I'm going with this.
Mariana Mazzucato is not a "brainiac" (as Robert Peston suggested) but she is both an intellectual and moral inspiration to forward-thinking and progressive political and social leaders everywhere. If the Labour Party are not talking with her, I want to know WHY!
@@francisravenscroft-dw6githat is too simplistic a view. The rates government pays on it's debt are in no small part driven by the confidence of gilt buyers. Maintaining current levels of expenditure with no coherent plan for how to reverse the productivity & investment decline in the UK will erode that confidence, driving up rates. I will grant you that convincing the markets that any spending plan can be successful could be challenging given the recent track record of the UK government, but a proper strategic spending plan may actually reassure the gilt markets that the UK has a meaningful strategy and long term plan and reduce gilt rates.
@@samhunter1205 Thank you for your reply- so how have Uk governments achieved that? by making a formal exit from the the planets 3rd largest trading group? or by spooking the hugely important Uk pension funds with vast uncalculated tax cuts ?
@@francisravenscroft-dw6gi this is a non-sequitur. No one is seriously arguing that government policy in recent years has been useful/helpful/effective/sane, but for us to assume your post isn't irrelevant the only point you can logically be making is that no government intervention can be successful. This does not follow from the available evidence, or what you wrote. I am not saying it would be easy (or likely to happen in practice), but I think there is a possible path to improve the UK's economic situation, and I think it comes from government led strategic decision making and investment. Of course I fully expect our short sighted, talent deprived and borderline corrupt political class to be captured by vested interests and cowed by the political power of dodgy billionaires, so I am not saying it will happen, only that it is possible.
@@samhunter1205 So you are suggesting what ? In what scenario would significant international investment in the UK would be attractive to international investors ?
That really is just not true. You have zero proof of that, all you are doing is spreading cynicism. Labour backed austerity. So if Osborne was malevolent so was Labour.
@@khar12d8 Of course Labour backed it, how is that relevant? Balls & George are best friends, these days they host a pod together. It's entirely true and the proof is in the pudding. Truly sorry you think I'm spreading cynicism, if you've got a positive spin on the situation then I'd love to hear it! They're treating the entire country as a corporate acquisition, breaking us up and selling us off. Standard private equity procedure. They had to wreck the economy to enable that. You don't think it's in someone's interest that we're at nearly 100% debt? All those interest payments are going somewhere. This is how it works now, the economics were completely inverted after 2008. Finance and capital eating up the host like a tumour. Do a search and take a look at all the international asset management firms buying up property across the UK. In ten years we'll be a corporate hellscape of gated communities and violent slums. Unless something significant changes. And yes, it will keep getting worse with Reeves and Starmer.
@@khar12d8 Of course Labour backed it, Balls and George are best friends. Don't be dim. The proof is in the pudding. Osborne built a bonfire of the disabled so his friends could warm their toes and light their $1200 cigars. That's cynicism. And malevolence.
Look at the work done by the Resolution Foundation as well, the solutions are not a 1 stop shop , Mariana is exceptionally good at high level thinking the grunt stuff is down to others @@lkyuvsad
As I understand it, the plan would be to make solving those problems a goal for the state to achieve in partnership with the private sector, and in the course of solving them, you will necessarily spark innovation and new business that drives more general long term growth and other benefits.
@@dananskidolf yup. My concern is that it'd be easy to grow the economy in a way that leads to a larger proportion of gains accumulating to the wealthy (again), and making the situation with asset bubbles worse rather than better. I suspect improving wages and working conditions needs to be a direct goal, rather than an indirect outcome of chasing overall economic growth.
@@lkyuvsad Yes, I do see a danger that an 'entrepreneurial state' just gives big wins to the rich and the tax payer has to cover the costs - particularly a worry for me regarding Rachel Reeves. But I do wonder if Mariana's ideas of a more balanced and collaborative state/private partnership could be realised here. There's a lot of appeal in the concept of making businesses work for people's benefit if they want state investment. I do also think our current problems need other solutions too with faster-acting effects, such as policy changes to slow or counter the perpetual flow of money out from workers's pay checks into passive incomes for unproductive asset owners.
As Mariana says herself a problem with this public investment strategy is if govts just spend money for political purposes, as often happened in the postwar era when govts didn't invest in the appropriate industries of the future but instead just "picked winners" and bailed out old fashioned industries in decline. This would be my chief criticism. It's all well and good putting forward a theory in which govt invests money sensibly but history teaches us govts, of all colours, can often fail to do this and that is why you can get inefficiency from state spending and the potential for inflationary crises etc...
Mostly correct. However, wholesale Tax Reform is needed BEFORE we attempt to tackle 'excess rents' etc because the 'Tax Avoiding Creature is the Child of the Tax Codes' ... Wealth Flat Tax 2.5% on all wealth above say .... 3 Ounces of Gold. No Tax Codes, No Income Tax. Just Wealth Tax.
How would that help when there are people who have trust funds (which are really their own wealth but not seen as such), or people who keep their wealth offshore? 3 ounces of gold is nothing (about 6k Pounds). Most peoples' cars are worth more than that, and they aren't rich. I think the starting limit should be a lot higher with a higher amount of tax, and the loopholes should be removed. It also depends on what you classify as wealth. So yes, a certain tax reform should take place. I agree. For instance, I don't want the likes of Elon Musk to live in a smaller house, I just think he should pay a fair amount of tax. He has built up a large company and obviously deserves to earn more then most of us, so I don't want to make him poor. At least he does work for a living and produce something unlike landowners..
I worked in a government department and consultants generated more and more consultants. The output was a consultant and never a product, change, benefit. Not a Single employee of the state moved without a consultant producing another consultant and a mountain of paper ( never read ). Money utterly wasted with the adults infantilised into babies. We forget lazy civil servants, how easy is it to offer work to someone else while the civil servant concentrates on their career promotions or playing cards on the PC. TOTAL FACT. I have seen it.
Can we please stop naming podcasts "the rest is... X". It made sense with the rest is history, since that's a well known saying, but Money? Entertainment? That makes no sense and I hate it. Anyway, good episode excited to see more.
healthy free school meals- if the kids leave school then go to get a McDonalds- the idea stops having the same traction, also do parents know what healthy nutrition is and what it looks like? Not if they take their kids to MacDs !
The answer to that is increased education about nutrition and the means to produce healthy food. Jamie Oliver and Tony Blair started projects such as The School Dinners Campaign and Sure-Start, providing young parents from deprived backgrounds with support and training to improve their children's health. The Tories essentially killed off investment in those projects when they were starting to show positive gains.
Government will not solve societal issues. Purpose led Innovation has a great chance. Government role is to facilitate it not obstruct it. Housing being the classic enormous issue that Governments fail to address
We’re saved! The issue is settled, the expert has found the solution! Companies must “do good” and the civil service should take more risks, genius!!! Not a lot of details but who cares, we just need to believe in it! Hallelujah And thank god the hosts were already in agreement, because scrutiny is overrated. This was deeply enlightening. Can’t wait to see Brazil become the great success, that Mariana has invested so much of her time influencing. Perhaps if we’re lucky, she’ll take on the U.K. and we can just hand Mariana the role as Chancellor, wouldn’t that be so much easier, Steph! Job done!
Head over to the Resolution Foundation and read thier paper on ending stagnation Mariana is an extremely talented high level thinker really progressing the work of Keynes
I agree this interview is lacking in scrutiny. Unfortunately journalists mostly read English lit and not economics. However fundamentally she is right, people don’t realise that the ultra right wing US invest heavily in their companies. Tesla, Google all these companies were given huge wodges of cash by the government because they could see they were strategically important and the result is that these companies are now huge. Biden just dumped nearly a trillion dollars into the economy and now the US has huge growth. Unfortunately the UK doggedly sticks to Tax cuts and there is little evidence Tax cuts bring growth.
@@cybergornstartrooper2157 I agree with both your point on the US and the point on tax cuts. What I would say, is that the US can spend that level of money because they are huge. They can afford to spend as much as they do. The U.K. or any other country the size of ours could never dream of spending the required amounts to create the “next” Tesla or Google. It’s total fantasy. That’s not to say that we shouldn’t be investing properly in infrastructure like rail or housing, because we absolutely should. I just object to this idea that Mariana is this messiah that they introduced her as. But hey, the proof is in the pudding. She has had enormous influence over Brazils economic policies, so if it fails, I hope she takes responsibility. I won’t hold my breath, because progressives never do, they always suggest it’s wasn’t really done properly or wasn’t given enough time. I enjoy the rest is politics and the rest is history but this particular series seems really amateur, particularly Steph.
I think "wasn't given enough time" does need some context. Alan Milburn needed 10 years to fix the NHS, but he did so. Meanwhile, our current government has had 14 years and is claiming they need more time, and that is definitely past credibility So if Bolsonaro (or one of his clique) takes the presidency next term, I think "wasn't given enough time" is entirely valid. If Lula gets to a third term and tries using "wasn't given enough time" then it should be rightly called out as nonsense
@@Danothebaldyheid But does it lead to a rise in the incidence of diabetes? Yes. Do more diabetics need to manage their condition with chemical interventions ?
That is a bizarre argument. Your logic appears to be: a problem is getting worse, so let's stop trying to do anything about it. It also ignores the idea of preventative medicine and the fact that a portion of the health budget is already spent on trying to reduce unhealthy behaviours like smoking or the poor diet/lack of exercise that leads to obesity. Surely a more coherent response to rising obesity would be a joined up approach that addresses the drivers for obesity that can't be handled through the health system? Fix our food production and distribution systems so it is cheaper to eat a healthy diet rather than processed high salt/sugar crap, fix housing so that people in cheap housing have proper access to cooking facilities, stop closing down all youth and sports centres so people can lead an active lifestyle.
You may want to avoid liking viewer comments as a channel because it gives away your political bias, which is something you should arguably be striving to avoid, insofar as that's possible.
....sorry, but as soon as she started talking about working with Georgia Gould in Camden and consultations......absolute bull, just read the Camden New Journal for the real story. Fake- consultations- are- us would be a truer description.........
thoroughly enjoyed this discussion!
Aware of her work which is excellent. Can't stress too much that this whole agenda must be the central debate the whole of the UK must have if we are going to have headroom to fix anything at all.
Well said. We need degrowth, not more growth. Our capitalist system is failing us and our planet
@@TheBurdenOfHope you will see I wasn't necessarily advocating degrowth although that is an interesting subject depending on what is meant by it. I would prefer optimised growth.
@@TheBurdenOfHopeYou could begin by stopping participation in the capitalist system? RUclips would be a nice start
@TheBurdenOfHope move to the uk we've had degrowth, its great. We now have way more kids starving than we did 20 years ago. If you're into sadism youd love it.
@@mattwright2964 If Britain can manage population expectation, then by all means de growth. The issue is we have an aging population, and the social and health costs of us- that me :) - contributes to drain on tax revenues. I d like to be deported to scilicy myself ! :)
excellent podcast . Mariana Mazzucato for Chancellor !
Fantastic getting her on here. Hope this improves the debate on economics in the media here. Please get @garyseconomics too!
What a wonderful woman.
Fearmongering in the press by people like Peston is why we had austerity, and why Labour are so incredibly scared of saying anything an inch away from the Tories.
You realise that austerity had to happen right? You can’t keep borrowing and borrowing. We pay roughly £250m per day on interest alone and that compounds. Imagine a personal credit card with 3m owed to the bank and no ability to declare bankruptcy. If you to invest, you have to tackle debt first
We spent 4bn on interest last year!! 4bn of our money gone and not even to tackle the debt. We can put that money into public services, but you have to tackle it first and cut debt. Can only do so but cutting spending and increasing growth
Yes, but what austerity? There were never any real spending cuts, they just closed libraries and turned off streetlights. If any savings were made, they certainly weren't used to reduce the national debt, which remains largely unchanged since the 2007 financial crisis.
Would be nice to see you guys interview Gary from YT Garys Economics
Oh yes, Gary the working class millionaire, the salt of the earth with his tax efficient banking arrangements.
My God I hope Starmer & Reeves are listening…
Mariana is fantastic, ⭐️
This is overall absolutely fantastic, and I've shared highlights with many friends and colleagues. One minor gripe: I found Peston's question about the lack of leadership to be typical of media efforts to find someone to blame, which wasn't really relevant to this insightful discussion on economics. The answer was a polite disagreement, I thought - although it began with a loose 'yes', it then came round to the point about it being a failure of the entire economic (and political) system, not specific failures of our leaders. And yet Peston still took this as the main takeaway from the podcast in the wrap-up at the end! It seemed an example of hearing what he wanted to hear rather than what she actually said. Said with no malice at all - well intentioned feedback.
And the key to much of this, of course, is to understand the mechanics of the monetary system itself, which few do unfortunately. Marianna is familiar with the work of MMT, which gets the beating heart of this, but if we are to get into that mission orientated mindset she speaks in understanding public purpose and value, which is fundamental in directing investment (public and private) then a much needed upgrade of a macroeconomic framework is essential.
I would very much like to see women with the Wisdom of this lady in key leadership positions. The changes would be radical for the working class👏👏👏Thank you
Why just women? Surely people is what you meant?
As a progressive centre-left, living in a rural area, who has enjoyed professional careers in both catering and carpentry, this is music to my ears. We live in country with very productive farmland, a weather system perfect for green energy, and a proven track record of innovation and scientific success. It is not a stretch to imagine a forward thinking government harnessing these resources and investing responsibly in projects that create both economic and social benefits.
Free school meals are an excellent example of how businesses and communities would gain from inter-sectoral co-operation; from farm to plate, via logistics, catering machinery, construction, IT support and so on. The UK is the largest financial services exporter in the world; we should easily be able to attract the private sector, by increasing public investment, liaising with academics and field-specific experts, and utilising our skilled workforce. We have the potential to make our own trains, ships, tractors, wind farms and so much more; we just need someone with the vision, and the guts, to make it happen.
It's nice to talk about potential without thinking about the yawning gap between that potential and reality. If it's so easy, why has growth barely moved this past 25 years? And no, in a global marketplace you can't produce sophisticated technologies just for your own country, because R&D is expensive, and access to capital to fund that is predicated on access to markets. You'll guess where I'm going with this.
Great to see these in video format
Great to see this podcast now on video really enjoy listening
Mazzucato for Chancellor!!
Mariana Mazzucato is not a "brainiac" (as Robert Peston suggested) but she is both an intellectual and moral inspiration to forward-thinking and progressive political and social leaders everywhere. If the Labour Party are not talking with her, I want to know WHY!
simple: more government spending in the short term leads to more borrowing in a market with elevated world interest rates on debt
@@francisravenscroft-dw6githat is too simplistic a view. The rates government pays on it's debt are in no small part driven by the confidence of gilt buyers. Maintaining current levels of expenditure with no coherent plan for how to reverse the productivity & investment decline in the UK will erode that confidence, driving up rates. I will grant you that convincing the markets that any spending plan can be successful could be challenging given the recent track record of the UK government, but a proper strategic spending plan may actually reassure the gilt markets that the UK has a meaningful strategy and long term plan and reduce gilt rates.
@@samhunter1205 Thank you for your reply- so how have Uk governments achieved that? by making a formal exit from the the planets 3rd largest trading group? or by spooking the hugely important Uk pension funds with vast uncalculated tax cuts ?
@@francisravenscroft-dw6gi this is a non-sequitur. No one is seriously arguing that government policy in recent years has been useful/helpful/effective/sane, but for us to assume your post isn't irrelevant the only point you can logically be making is that no government intervention can be successful. This does not follow from the available evidence, or what you wrote. I am not saying it would be easy (or likely to happen in practice), but I think there is a possible path to improve the UK's economic situation, and I think it comes from government led strategic decision making and investment. Of course I fully expect our short sighted, talent deprived and borderline corrupt political class to be captured by vested interests and cowed by the political power of dodgy billionaires, so I am not saying it will happen, only that it is possible.
@@samhunter1205 So you are suggesting what ? In what scenario would significant international investment in the UK would be attractive to international investors ?
What an amazing woman! ❤
She supported Corbyn
Innovation in the UK is a closed shop. Money gets funnelled to insiders
Loved this.
Just found the channel. Subscribed immediately.
Put timestamps
Please
George Osborne is more malevolent than stupid. He knew exactly what austerity would do.
Wrecking our economy was the objective, not an error.
That really is just not true. You have zero proof of that, all you are doing is spreading cynicism. Labour backed austerity. So if Osborne was malevolent so was Labour.
@@khar12d8 Of course Labour backed it, how is that relevant? Balls & George are best friends, these days they host a pod together.
It's entirely true and the proof is in the pudding. Truly sorry you think I'm spreading cynicism, if you've got a positive spin on the situation then I'd love to hear it!
They're treating the entire country as a corporate acquisition, breaking us up and selling us off. Standard private equity procedure. They had to wreck the economy to enable that.
You don't think it's in someone's interest that we're at nearly 100% debt? All those interest payments are going somewhere.
This is how it works now, the economics were completely inverted after 2008. Finance and capital eating up the host like a tumour. Do a search and take a look at all the international asset management firms buying up property across the UK.
In ten years we'll be a corporate hellscape of gated communities and violent slums. Unless something significant changes.
And yes, it will keep getting worse with Reeves and Starmer.
@@khar12d8 Of course Labour backed it, Balls and George are best friends. Don't be dim.
The proof is in the pudding.
Osborne built a bonfire of the disabled so his friends could warm their toes and light their $1200 cigars. That's cynicism. And malevolence.
@@khar12d8 I've replied twice, man. YT keeps deleting 🤷🏼♂️
Growth would be great, but at this point fixing up the situations of the working and middle classes seems quite a bit more urgent.
…which Mazzucato’s suggestions would also do, to be clear.
Look at the work done by the Resolution Foundation as well, the solutions are not a 1 stop shop , Mariana is exceptionally good at high level thinking the grunt stuff is down to others @@lkyuvsad
As I understand it, the plan would be to make solving those problems a goal for the state to achieve in partnership with the private sector, and in the course of solving them, you will necessarily spark innovation and new business that drives more general long term growth and other benefits.
@@dananskidolf yup. My concern is that it'd be easy to grow the economy in a way that leads to a larger proportion of gains accumulating to the wealthy (again), and making the situation with asset bubbles worse rather than better.
I suspect improving wages and working conditions needs to be a direct goal, rather than an indirect outcome of chasing overall economic growth.
@@lkyuvsad Yes, I do see a danger that an 'entrepreneurial state' just gives big wins to the rich and the tax payer has to cover the costs - particularly a worry for me regarding Rachel Reeves. But I do wonder if Mariana's ideas of a more balanced and collaborative state/private partnership could be realised here. There's a lot of appeal in the concept of making businesses work for people's benefit if they want state investment.
I do also think our current problems need other solutions too with faster-acting effects, such as policy changes to slow or counter the perpetual flow of money out from workers's pay checks into passive incomes for unproductive asset owners.
Austerity was class war
As Mariana says herself a problem with this public investment strategy is if govts just spend money for political purposes, as often happened in the postwar era when govts didn't invest in the appropriate industries of the future but instead just "picked winners" and bailed out old fashioned industries in decline. This would be my chief criticism. It's all well and good putting forward a theory in which govt invests money sensibly but history teaches us govts, of all colours, can often fail to do this and that is why you can get inefficiency from state spending and the potential for inflationary crises etc...
Great conversation. However, there an elephant in the room.
Guess what it is?
(It’s not Brexit!)🧐
Mostly correct. However, wholesale Tax Reform is needed BEFORE we attempt to tackle 'excess rents' etc because the 'Tax Avoiding Creature is the Child of the Tax Codes' ... Wealth Flat Tax 2.5% on all wealth above say .... 3 Ounces of Gold. No Tax Codes, No Income Tax. Just Wealth Tax.
How would that help when there are people who have trust funds (which are really their own wealth but not seen as such), or people who keep their wealth offshore?
3 ounces of gold is nothing (about 6k Pounds). Most peoples' cars are worth more than that, and they aren't rich. I think the starting limit should be a lot higher with a higher amount of tax, and the loopholes should be removed. It also depends on what you classify as wealth.
So yes, a certain tax reform should take place. I agree.
For instance, I don't want the likes of Elon Musk to live in a smaller house, I just think he should pay a fair amount of tax. He has built up a large company and obviously deserves to earn more then most of us, so I don't want to make him poor. At least he does work for a living and produce something unlike landowners..
I worked in a government department and consultants generated more and more consultants. The output was a consultant and never a product, change, benefit. Not a Single employee of the state moved without a consultant producing another consultant and a mountain of paper ( never read ). Money utterly wasted with the adults infantilised into babies.
We forget lazy civil servants, how easy is it to offer work to someone else while the civil servant concentrates on their career promotions or playing cards on the PC. TOTAL FACT. I have seen it.
The 'War for the Wellfare' sounds like a somewhat worthy cause... 🤔
Can we please stop naming podcasts "the rest is... X". It made sense with the rest is history, since that's a well known saying, but Money? Entertainment? That makes no sense and I hate it. Anyway, good episode excited to see more.
👏👏👏👏👏🙏
healthy free school meals- if the kids leave school then go to get a McDonalds- the idea stops having the same traction, also do parents know what healthy nutrition is and what it looks like?
Not if they take their kids to MacDs !
The answer to that is increased education about nutrition and the means to produce healthy food. Jamie Oliver and Tony Blair started projects such as The School Dinners Campaign and Sure-Start, providing young parents from deprived backgrounds with support and training to improve their children's health. The Tories essentially killed off investment in those projects when they were starting to show positive gains.
Government will not solve societal issues. Purpose led Innovation has a great chance. Government role is to facilitate it not obstruct it. Housing being the classic enormous issue that Governments fail to address
We’re saved! The issue is settled, the expert has found the solution! Companies must “do good” and the civil service should take more risks, genius!!! Not a lot of details but who cares, we just need to believe in it! Hallelujah
And thank god the hosts were already in agreement, because scrutiny is overrated. This was deeply enlightening.
Can’t wait to see Brazil become the great success, that Mariana has invested so much of her time influencing.
Perhaps if we’re lucky, she’ll take on the U.K. and we can just hand Mariana the role as Chancellor, wouldn’t that be so much easier, Steph! Job done!
So what's your solution?
Head over to the Resolution Foundation and read thier paper on ending stagnation
Mariana is an extremely talented high level thinker really progressing the work of Keynes
I agree this interview is lacking in scrutiny. Unfortunately journalists mostly read English lit and not economics.
However fundamentally she is right, people don’t realise that the ultra right wing US invest heavily in their companies. Tesla, Google all these companies were given huge wodges of cash by the government because they could see they were strategically important and the result is that these companies are now huge. Biden just dumped nearly a trillion dollars into the economy and now the US has huge growth. Unfortunately the UK doggedly sticks to Tax cuts and there is little evidence Tax cuts bring growth.
@@cybergornstartrooper2157 I agree with both your point on the US and the point on tax cuts. What I would say, is that the US can spend that level of money because they are huge. They can afford to spend as much as they do. The U.K. or any other country the size of ours could never dream of spending the required amounts to create the “next” Tesla or Google. It’s total fantasy. That’s not to say that we shouldn’t be investing properly in infrastructure like rail or housing, because we absolutely should. I just object to this idea that Mariana is this messiah that they introduced her as. But hey, the proof is in the pudding. She has had enormous influence over Brazils economic policies, so if it fails, I hope she takes responsibility. I won’t hold my breath, because progressives never do, they always suggest it’s wasn’t really done properly or wasn’t given enough time.
I enjoy the rest is politics and the rest is history but this particular series seems really amateur, particularly Steph.
I think "wasn't given enough time" does need some context. Alan Milburn needed 10 years to fix the NHS, but he did so. Meanwhile, our current government has had 14 years and is claiming they need more time, and that is definitely past credibility
So if Bolsonaro (or one of his clique) takes the presidency next term, I think "wasn't given enough time" is entirely valid. If Lula gets to a third term and tries using "wasn't given enough time" then it should be rightly called out as nonsense
At last some who dispels the myth of paying down the debt with austerity.
Grift is the only growing industry in the UK.
What' s the point of providing more health care, if the level of obesity continues to rise?
Obesity has very little effect on health, statistically
@@Danothebaldyheid But does it lead to a rise in the incidence of diabetes? Yes. Do more diabetics need to manage their condition with chemical interventions ?
@@Danothebaldyheiddo you have any evidence for that claim? It seems to run counter to the consistent advice from doctors and health authorities.
That is a bizarre argument. Your logic appears to be: a problem is getting worse, so let's stop trying to do anything about it. It also ignores the idea of preventative medicine and the fact that a portion of the health budget is already spent on trying to reduce unhealthy behaviours like smoking or the poor diet/lack of exercise that leads to obesity. Surely a more coherent response to rising obesity would be a joined up approach that addresses the drivers for obesity that can't be handled through the health system? Fix our food production and distribution systems so it is cheaper to eat a healthy diet rather than processed high salt/sugar crap, fix housing so that people in cheap housing have proper access to cooking facilities, stop closing down all youth and sports centres so people can lead an active lifestyle.
@@samhunter1205 I'll try and find the article I read. Basically it increases a small risk by a small amount, from what I read..
You may want to avoid liking viewer comments as a channel because it gives away your political bias, which is something you should arguably be striving to avoid, insofar as that's possible.
horizon projects are shit.
....sorry, but as soon as she started talking about working with Georgia Gould in Camden and consultations......absolute bull, just read the Camden New Journal for the real story. Fake- consultations- are- us would be a truer description.........