Break the bank: Are we doomed to repeat our financial crises?

The Bunker

Podmasters

News, Politics, Society & Culture, Government

4.6 • 984 Ratings

🗓️ 21 February 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

After the Financial Crisis, many expected a new approach to the economy to be taken. Instead, lessons were forgotten quickly and countries continued to rack up debt whilst subscribing to the old order of things. Martin Wolf, author of The Crisis of Democratic Capitalism joins Alex Andreou to discuss whether we’re destined to repeat the past. “After communism failed, the western leaders… came to feel that our systems had won, they were overwhelmingly successful.” “The working class which had been atomised… this story of resentment and anger against elites and immigrants is a very powerful story.” “What economics is wrong about is the assumption that a reasonably competitive economy can be sustained without consistent and active engagement.” www.patreon.com/bunkercast Written and presented by Alex Andreou. Producer: Jet Gerbertson. Assistant producer: Kasia Tomasiewicz. Lead producer: Jacob Jarvis. Bunker music by Kenny Dickinson. Audio production by Robin Leeburn. Group Editor Andrew Harrison. THE BUNKER is a Podmasters Production Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	My name is Stan. I'm at. Nice to meet you. So you took up photography where? I've always loved
0:05.5	photography but I turn it into earning a living at 60. I enrolled on a day course.
0:11.8	Well college. I loved going to college. It's good you can retry. I'm enrolled on the day course. But college?
0:13.0	I loved going to college.
0:14.0	It's good you can retrain and do something.
0:16.0	Yeah, yeah.
0:17.0	Let's talk about working, learning, saving and making the most of living longer.
0:22.0	Phoenix Group is the UK's largest long-term savings and retirement business.
0:28.0	Search Phoenix Group living longer.
0:30.0	Pets brings so much joy.
0:32.0	From those happy greetings at the door to the warm cuddles on the sofa.
0:37.0	So give a little love back with Dental Life from Purina, a range of delicious chues made for dogs and tasty snacks for cats that help clean and support your pets, teeth and gums, essential for their overall well-being and a happy, healthy life. They give you plenty of smiles so look
0:55.5	after theirs with dental life. Pick up dental life in the pet food aisle.
1:00.0	Hello and welcome to the bunker daily I am your host Alex Andreu.
1:07.6	The equilibrium models microeconomists engage with contain a fundamental assumption that modern democratic capitalist
1:16.1	economies are essentially stable.
1:19.4	But the economist Hymansky's great thesis can be summarized in the words stability is ultimately destabilizing.
1:27.6	My guest today has written on precisely this issue in his book, The Crisis of Democratic
1:32.0	Capitalism, but from an empirical rather than a purely theoretical
1:36.2	perspective, which makes perfect sense he has been observing and commenting on economics
1:41.2	for the financial times for longer than would be polite to expose.
1:45.4	Welcome to the bunker Martin Wolf.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Podmasters, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Podmasters and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.