Hello world. This feature contains a brief video from Econ4 highlighting the substantial need for a shift in the societal paradigm based around mass consumption and the unsustainable nature of mass production. It is widespread knowledge that people in their thirties and below will be the first generation to have mean incomes below that of their parents, so there is certainly a need for dramatic discussion around how our society operates. Moreover, this video questions the basic economic problem of the fact that wants are infinite and resources are scarce. So if there are methods that can improve this, then it at least deserves your attention.
Although this interview was conducted some twelve months ago Professor Krugman’s arguments about how to end the Great Recession are more potent than ever. Professor Krugman is a well known Keynesian and he has been advocating for more government expenditure. Although the government in the UK are extremely unlikely to change from its programme of fiscal consolidation, empirical evidence does suggest that substantial government spending is the most effective method to restoring economic growth during a recession. Krugman used the example of America post 1930 and Roosevelt’s “New Deal,” an economic plan designed to boost the American economy through government spending.
The Men Who Made Us Fat aired last year on BBC. It discusses obesity levels around the world, stating that two thirds of Britons are overweight and undernourished. The picture above shows a mushroom cloud of ten leading firms above their respective subsidiaries. Many of the firms pictured above are featured.
I first saw this documentary about two years ago on BBC2 and it remains one of the finest, if not the finest documentary I’ve seen. Adam Curtis manages to draw upon what appears to be obscure links and pull them together to identify a big and fascinating picture. If you are looking for some answers to the current financial situation then watching this video is a must.
Joseph Stiglitz is a renowned Keynesian. Whilst several free marketers have suggested it was governments binging on fiscal polices in the first place that placed several economies in this mess that has not changed the stance of several economists such as Paul Krugman and Joseph Stiglitz. There has always been the consensus that the eurozone project lacked the economic rationale to really succeed. Stiglitz shares his views…