Humane Economics & The #CovidSpring Ep 3 - This Time It Must Be Different
Release Date: 12/02/2020
S4 Ep. 4 - A Commissioner for Digital Money, A New Institution: Digital Pound Interview with Danny Kruger MP of Parliament's Treasury Select Committee
Frontier Tech Radio
At the close of the Bank of England's consultation on the Digital Pound Barry interviews Danny Kruger MP, of the UK Parliament's Treasury Select Committee, who oversee the project, discussed the deep implications of central bank digital currencies (CBDCs) on financial stability and liberty. While Danny expressed concerns about the potential negative effects, he acknowledged that he and his colleagues on the Treasury Select Committee were not experts on the topic and that there was a general perception that CBDCs were a natural evolution of the digital revolution. Barry and Danny discussed the...
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S4 Ep. 3 - Interview with Jasmine Birtles on d£ and CBDCs
Frontier Tech Radio
Summary Jasmine and Barry discussed the Bank of England's consultation on creating a digital pound. Jasmine expressed her concerns about central bank digital currencies, stating that they allow for too much control and monitoring by the government. Barry and Jasmine discussed the differences between cryptocurrencies and central bank digital currencies, with Jasmine expressing concerns about the centralized nature of CBDCs and the potential for government control over people's finances. They also talked about the impact of taxation on small businesses and the extractive nature of the economy....
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S4 Ep. 2 - Central Banks, CBDCs and the rise and rise of DeFi
Frontier Tech Radio
Barry talks to David Palmer, Blockchain Lead at Vodaphone & Jamiel Sheikh, Founder & CEO of Chainhaus - leading advisory, education, events & app studio about the rapid rise of DeFi and the advent of 'Central Bank Digital Currencies' in the week that the Bank of England announced its digital Pound project - closely following the digital Euro.
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S4 Ep. 1 - DeFi and 3D Democracy - The future landscape
Frontier Tech Radio
In this fascinating conversation with David Palmer, a visionary, who is also the blockchain lead for Vodafone, we range widely across digital transformation, including the fact that we're all increasingly cyborgs living in a digital, as well as physical environment.
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Humane Economics & The #CovidSpring Ep 6 - Fintech Tackling the Poverty Trap with Fairer Finance Hackathon Winners Finexos
Frontier Tech Radio
Fintech Tackling the Poverty Trap with Finexos' CEO/Founder Mark Fisher and Chair Steven Bone.
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Humane Economics & The #CovidSpring Ep 5 - Why There’s Still No End to Increasing Poverty & ‘Runaway Inequality’ and What We Can Do About it
Frontier Tech Radio
An interview with Les Leopold, author of ‘Runaway Inequality’ for the #CovidSpring series
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Humane Economics & The #CovidSpring Ep 4 - From Patients to Occupants: Turning the Health Service on Its Head
Frontier Tech Radio
In this episode we will be talking to another big-thinker: Andy Wilkins, founder of Vision4Health about the future of health and health services post Covid.
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Humane Economics & The #CovidSpring Ep 3 - This Time It Must Be Different
Frontier Tech Radio
Professor Ronald MacDonald is a Research Professor in Macroeconomics and International Finance in the Adam Smith Business School at the University of Glasgow. His previous positions at the University were Bonar Macfie Chair of Economics (2005-2006), and the Adam Smith Chair of Political Economy (2006-2015). He has consistently ranked in the top 1% of the IDEAS/RePec ranking of economists, and was awarded an OBE in 2015 for services to Economic Policy.
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Humane Economics & The #CovidSpring Ep 2 - Predatory Capitalism in Action
Frontier Tech Radio
Barry speaks with Rachel Neale from UK Mortgage Prisoners.
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Humane Economics & The #CovidSpring Ep 1 - An Introduction to Humane Economics & The #CovidSpring
Frontier Tech Radio
Welcome to the #CovidSpring series in which we look through the Covid winter, which we are now enduring, to the coming spring beyond the crisis and harness some of the world's finest minds to together think about what kind of world we want to create. What kind of world we want and need - in search of humane economics.
info_outlineProfessor Ronald MacDonald is a Research Professor in Macroeconomics and International Finance in the Adam Smith Business School at the University of Glasgow. His previous positions at the University were Bonar Macfie Chair of Economics (2005-2006), and the Adam Smith Chair of Political Economy (2006-2015). He has consistently ranked in the top 1% of the IDEAS/RePec ranking of economists, and was awarded an OBE in 2015 for services to Economic Policy.
We discuss his report: 'The Post Pandemic New Normal' and it's follow-up calling for a rethink about the UK economy post-covid and discuss his insights and prescription for the #CovidSpring that show some marked similarities to some of the conclusions of humane economics.
Including the need to “move away from the shareholder capitalism model” based on “short-termism and value extraction” to a “stakeholder model based on value creation” and discover that while there are string signs that some business leaders are moving in this direction that this is not being reflected in university teaching.
Other key points include:
- We need to reboot the banking sector so it helps industry and business create jobs
- Recalibrating the economy so it’s fairer for ordinary workers.
- GDP - why it's bad for us and what are the alternatives?
- The need for “a new form of social contract " as we move out of the pandemic.
- The government should “instigate a wellbeing fiscal stimulus… that has a major focus on greening the economy”. That also means “no return to austerity policies”
- Let's... spare the economy from mass unemployment and guide it on a path to a New Normal
- What might the #NewNormal look like?
- What are the alternatives / what happens if we carry on as we are?
Prof. McDonald explains the asset management has made the economy very much focused on value extraction and rent seeking rather than value creation and that this has been hugely detrimental to the UK economy, having led to short-termism in investment and failure in the UK economy including in the banking sector and finance. Where policymakers have previously thought that the shift to finance, as the basis of the economy was a good thing. It's now clearly evident that this is a dead end and we're seeing a movement away from shareholder capitalism and towards stakeholder capitalism – but without this being reflected in university teaching.
Meanwhile the pandemic is opening minds and allowing people to reprioritize and think about what kind of society we want.
More on Prof. MacDonald's work is here: https://policyscotland.gla.ac.uk/wp-content/uploads/2020/06/PSPostPandemicNewNormalRonaldMacDonald.pdf & https://policyscotland.gla.ac.uk/this-time-it-has-to-be-different/ and a useful summary here: https://www.heraldscotland.com/news/18531122.revolutionary-new-vision-post-covid-scottish-economy/
Watch the video interview at https://youtu.be/QgHqZJLzqqE
See HumaneEconomics.co for more and to join the linear-conference and network.