"Why are People Not Angry?" Martin Wolf on 2008 and The Crisis of Democratic Capitalism (part 2)

The former governor of the Bank of England meets the renowned Financial Times commentator for a reckoning on why the relationship between democracy and capitalism is coming undone - and what we can do about it.
We are living in an age when economic failings have shaken faith in global capitalism. Political failings have undermined trust in liberal democracy and in the very notion of truth.
The ties that ought to bind open markets to free and fair elections are being strained and rejected, even in democracy’s notional heartlands.
Some now argue that capitalism is better without democracy; others that democracy is better without capitalism.
Live on stage in London and via livestream, Martin Wolf - one of the wisest voices on global affairs - will argue that for all its recent failings - slowing growth, increasing inequality, widespread popular disillusion - democratic capitalism, though inherently fragile, remains the best system we know for human flourishing. Most important of all, he will present a programme for renewal, with fresh ideas to rescue our democracy.
Martin Wolf is Chief Economics Commentator at the Financial Times. He was a member of the UK’s Vickers Commission on Banking, which reported in 2011. He holds an honorary doctorate at the London School of Economics and is an honorary Fellow of Nuffield College, Oxford. He is a member of the International Media Council of the World Economic Forum. In 2000, he was awarded the CBE for services to financial journalism and in 2019 won the Lifetime Achievement Award at the Gerald Loeb Awards. His books include The Shifts and the Shocks, Fixing Global Finance and Why Globalization Works.
Mervyn King was Governor of the Bank of England from 2003 to 2013 and is currently Professor of Economics and Law at New York University and School Professor of Economics at the London School of Economics. Lord King was made a life peer in 2013 and appointed by the Queen a Knight of the Garter in 2014. He is the author of The End of Alchemy.

Пікірлер: 39

  • @grayzytube
    @grayzytube Жыл бұрын

    I'm looking forward to what will hopefully be a third part of this. Wolf's closing remark as this part faded where he quotes Aristotle's belief that "you can't have a stable Democratic institution without a thriving independent middle class" I'm not surprised that he feels that way as he is part of that group. I would like to posit that until we have an entire electorate who are well informed, articulate and capable of critical thinking Democracy cannot thrive. Without Democracy in the workplace there is no democracy and that is unlikely to be achieved whilst major investors and financial interests main focus is R.O.I. and not human welfare.

  • @aristocraticrebel

    @aristocraticrebel

    9 ай бұрын

    How about democracy when it comes to immigration?

  • @nath1284

    @nath1284

    9 ай бұрын

    Agreed. Capitalism is finite and cannot continue. This is why we are witnessing such ludicrous last desperate attempts to drain every penny possible from the majority before the majority awaken to the power and control they are subservient to.

  • @geraldgreenman4715

    @geraldgreenman4715

    9 ай бұрын

    half the population should not get the vote .it would cut out the swill that stormed the Capitol,,, the people who voted for brexit,,,the people who demonstrated with force in France against raising the retirement age ,and the terrible destruction in S Africa where whole shopping centers have been looted and destroyed ,,,,If those people want to vote,then they should take an exam an judged b y an agreed algorism

  • @aristocraticrebel

    @aristocraticrebel

    9 ай бұрын

    No one should vote.@@geraldgreenman4715

  • @indricotherium4802
    @indricotherium4802 Жыл бұрын

    In whose interests is it that both sides of politics in the UK be small c conservative? The super rich who are getting richer while everyone else gets worse off are the ones who don't want direction change. It should therefore be pretty clear who's pulling the strings at Westminster.

  • @dennistate5953
    @dennistate59533 ай бұрын

    Who in hell said folk ain't angry?!

  • @harrysoothsayer5086
    @harrysoothsayer5086 Жыл бұрын

    Live hand to mouth - they don't care!

  • @AlignmentCoaching
    @AlignmentCoaching5 ай бұрын

    Degrowth is going to happen, whether it’s chosen or not. And likely the latter. No other solutions are able to keep our increasing global temps under 2.0 let alone 1.5C.

  • @dsam3
    @dsam3 Жыл бұрын

    Lower the taxes lower the rights

  • @clarewillison9379
    @clarewillison9379 Жыл бұрын

    Good to hear an educated thoughtful man advocating Jeremy Corbyn’s 2017 manifesto. Just a few years too late, now there is no vision and no policy, just a race to the gutter, authoritarianism and even the far right. Seriously dangerous times.

  • @aristocraticrebel

    @aristocraticrebel

    9 ай бұрын

    What "far-right"? Where's this "far-right" you people keep crying about? The Tories have imported a record amount of migrants. And by authoritarianism you mean the cancelling of people like Kathleen Stock and jailing people for "racist" tweets, right?

  • @joaodecarvalho7012
    @joaodecarvalho701211 ай бұрын

    Blockchain is all about solving the trust problem.

  • @joaodecarvalho7012
    @joaodecarvalho701211 ай бұрын

    How about taxing the rich?

  • @aristocraticrebel

    @aristocraticrebel

    9 ай бұрын

    Try it. They'll just leave.

  • @geraldgreenman4715

    @geraldgreenman4715

    9 ай бұрын

    60% of Americans are living from pay check to pay check

  • @joaodecarvalho7012

    @joaodecarvalho7012

    9 ай бұрын

    @@aristocraticrebel Yes. We will have to solve this problem.

  • @aristocraticrebel

    @aristocraticrebel

    9 ай бұрын

    There is no solution.@@joaodecarvalho7012

  • @aristocraticrebel

    @aristocraticrebel

    9 ай бұрын

    That's their own fault though.@@geraldgreenman4715

  • @nath1284
    @nath1284 Жыл бұрын

    Citizens assemblies are the way forward

  • @aristocraticrebel

    @aristocraticrebel

    9 ай бұрын

    You may not like what they think about immigration, diversity, and trans "rights".

  • @nath1284

    @nath1284

    9 ай бұрын

    ​@@aristocraticrebelYou mean what WE think. Citizens assemblies are representative of the people and unless there are specific issues to tackle that involve the topics you name then these discussions wouldn't be a factor. We really need to move away from all forms of divisiveness towards a more compassionate cooperative society. We are all humans.

  • @aristocraticrebel

    @aristocraticrebel

    9 ай бұрын

    Majorities all over Europe want less immigration, so good luck with your "progressive" agenda. And humans are divisive by nature.@@nath1284

  • @nevadataylor

    @nevadataylor

    2 ай бұрын

    @@nath1284 Pro-capitalists are still hooked on their religion of individualism. They never think 'we', its always 'me' to a capitalist. This is why climate change exists in the first place.

  • @aristocraticrebel
    @aristocraticrebel9 ай бұрын

    If you think a man is a man and a woman is a woman you're called an "anti-intellectual" these days. Utter madness.

  • @azanulbizar12

    @azanulbizar12

    8 ай бұрын

    Well, for most of humanity's existence if you said gods did not exist, even when no one saw them or could prove it, you got killed. In the Old Regime, if you questioned kings, popes or emperors legitimacy to reign and their "divine right", you got send to prison, colonies or killed. In past and modern real totalitarian regimes, if you criticise the leader and the party, you get imprisoned or killed. And both Hitler and Stalin hated intellectuals. I think I'll stick with the woke extremisms and Twitter cries over those other examples anyday. You defend rejecting democracy, liberal checks and balances to power and pluralism in the name of freedom, which is ridiculous and contradictory. Reality was, is, and will always be plural. There is no "liberal totalitarianism", as there is no "freedom prison": there is a recognition of pluralism in societies, with all their contradictions and their "work in progress", or there is not. There is a recognition of the human rights and dignity inner to any human being or there is support to ethnic darwinism. There is support of a limited government that answers to the people or not. And if there is no recognition of pluralism, human rights and limits to power, then it means the domination of one or a few over all: dictatorship or totalitarianism, the real ones, not the fake illusions you portray to support supremacism. Enough with the demagogues.

  • @nevadataylor

    @nevadataylor

    2 ай бұрын

    You dont like when a man 'believes' he is a woman, nor do you like when a woman 'believes' she is a man, yet you dont care about all the beliefs that make you up, do you? Most on the right are very nationalistic for example, and therefore believe in country borders. Those lines you draw in the dirt for your fake countries, are just as belief-based as a man who thinks himself a woman or vs versa. Its ok for you to maintain belief in bullshit, why cant others? Seems you only cry anti-intellectual when it goes against other peoples' beliefs, and not your own. Thats called being a hypocrite.