The middle-out moment
Reasons Revisited
Geoff Lloyd
4.8 • 2.6K Ratings
🗓️ 23 October 2022
⏱️ 54 minutes
🧾️ Download transcript
Summary
Hello! The pranksters at RTBC have got a joke about trickle-down economics.…99% of people won't get it...
This week as Liz Truss prepares to exit we’re talking about the economic philosophy that characterised her reign: supply-side or trickle-down economics—and its alternative: so-called middle-out economics.The latter is the idea that investing in the broad middle to help people become more secure and prosperous can lead to more economic growth. But is it really that simple?
We talk to Professor Sue Himmelweit about the origins of trickle-down, to Nick Hanauer, one of the inventors of the term middle-out, and to Juha Leppänen about Finland's model of economic success.
Plus: Ed reflects on whether the frack got Liz the sack.
Fancy sending in a new theme tune? Email us at reasons@cheerfulpodcast.com
Guests
Sue Himmelweit, emeritus professor, the Open University and member, Women's Budget Group (@suehimmelweit)(@womensbudgetgrp)
Nick Hanauer, author, venture capitalist and founder of Civic Ventures (@NickHanauer)
Juha Leppänen, CEO, Demos Helsinki (@juhaleppanen) (@demoshelsinki)
More info
Forget trickle down, what the UK needs is middle-out economics (The Guardian)
A brief history of middle-out economics(Pitchfork Economics)
Is middle-out Biden's new deal(Democracy)
Listen to Nick's weekly podcast, Pitchfork Economics
Read 100 Social Innovations from Finland, Ilkka Taipale
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Transcript
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| 0:00.0 | This episode is sponsored by the Perception Census, a new groundbreaking study exploring |
| 0:05.6 | the fascinating potential of the mind from the creators of Dream Machine. |
| 0:09.7 | Here's a question. |
| 0:10.8 | Which is heavier? |
| 0:12.2 | Red? |
| 0:13.2 | Or yellow? |
| 0:14.7 | Now, did an answer come to mind instantly? |
| 0:17.9 | Most people say red, but why is that? |
| 0:21.8 | That's at the heart of what the Perception Census is aiming to discover. |
| 0:25.7 | To what extent are we all experiencing the world around us differently? |
| 0:29.8 | And why? |
| 0:30.8 | It's led by world-leading academics, professor of neuroscience, Annal Seth from the University |
| 0:36.0 | of Sussex. |
| 0:37.0 | You may have heard of. |
| 0:38.0 | He crops up on TV and radio. |
| 0:39.4 | He's always brilliant. |
| 0:40.4 | He wrote a fantastic book called Being You, which came out last year, and professor of |
| 0:45.0 | philosophy, Fiona McPherson from the University of Glasgow. |
| 0:49.2 | And the team has designed this brilliantly. |
| 0:52.0 | Basically, the more you complete, the more valuable the research becomes. |
| 0:56.7 | So just taking part is really engrossing. |
| 0:59.6 | They're all kinds of games, illusions, tests, brain teasers, as well as a little bit about |
... |
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