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The Owen Jones Podcast

Ex-City Trader Exposes Capitalism: Gary Stevenson Explains Why We're Trapped In This Mess

The Owen Jones Podcast

Owen Jones

News, Government, News & Politics, Politics

4.41.4K Ratings

🗓️ 10 April 2024

⏱️ 53 minutes

🧾️ Download transcript

Summary

He went from working-class east Londoner to Citibank's most profitable trader. He made his millions by predicting that inequality dooms our economic model.


We discuss his bestselling new book - The Trading Game: A Confession - and why our economic model dooms us to falling living standards, and unless we can get our act together, fascism will triumph.

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Transcript

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0:00.0

Hello I am delighted to be joined by, well my cat here who's the son to get involved,

0:04.3

hike here, great, always great timing, don't sound of the keyboard.

0:07.3

To be joined by the brilliant Gary Stevenson, who I have an interview actually for a long time,

0:12.0

but it would be deranged if I had an

0:14.2

interview and given he is as I stand the author of an absolute runaway success

0:20.3

which is the trading game a confession and I mean actually just to be clear this is the

0:26.0

number what it's been twice now the number one bestseller on the Sunday

0:30.7

Times bestseller list which is an astonishing achievement that means in in layman's turns selling a lot of books that's what that means in layman's terms and it really has just struck so much of a court I think there's I think kind of some

0:43.8

form of Gary mania sweeping the nature and you know I mean it is it's a

0:49.2

book which is it's a brilliant piece of literature it it's kind of memoir, it's politics, it's economics, it's lots of stuff, but it's also, you know, class, masculinity, loneliness, addiction.

1:01.0

It's just one of these books which I think in generations to come, you kind of

1:08.0

look back at certain books and think, you know, how, what was the moment they were living in you know what kind of and this was

1:14.0

that will be this that kind of book where people go you know let's try and

1:18.3

understand the insanity of the 20s unless we wiped ourselves out in a massive nuclear

1:23.2

apocalypse and combined effects of climate emergency anyway hi how you doing good to see

1:28.2

you again it's been too long it has been too long it has been too long but just so people aren't aware of you, because what you do at the moment,

1:38.1

you've got this brilliant, do make sure everyone you check out his YouTube channel, a rival YouTube channel, no not as well.

1:44.0

Gare's economics, which it does what it says on the tin really.

1:50.0

And what's saying fascinating about Gary is, it's, you've got quite a unique origin story I would say in terms of

1:57.0

The because you obviously try to teach people about actual economics how the economic system in which we live works, but how you got there is quite something.

2:05.5

So I want to start by, because you were, we'll talk about how you became a city bank trader,

2:10.3

the most successful one, but you came from an East London working class background.

...

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