The the Hello and

Welcome to Behind the News. My name is Doug Henwood. Lots of economics today. In moments we'll hear from Grace Blakely on where the current order came from

and how we might get out of it. And then Emmanuel

Saez reviews the modern trajectory of the rich versus everyone else, how the

upper brackets came to claim most of the income growth and pay very little in

taxes, and how that all could be changed.

Grace Blakely is an English economics commentator and an advisor to the Labor Party.

Her new book, Stolen, How to Save the World from Financialization

is just out from repeater books.

Grace Blakely.

You said early in the book, business is once focused on producing goods and services

for which they have a competitive advantage.

But capitalism has always been about money.

Finance has always been a big thing.

We had the American 19th century, one scam after another.

We had our 1920s, where the South Sea bubble would be back far enough.

What is different now?

What has changed?

The biggest shift I suppose has been from the kind of post-war period, that period which was

you know remembered by many as the kind of golden age of capitalism. During the post-war

period you had a kind of corporatist relationship I suppose between the state, businesses and labor.

For a while that a balance of power in society gave rise to an economic model at least in the US and the UK that was relatively

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