The case for taxing wealth, argument by argument.
This video, part of a series on inequality, explains why the host, a former LSE economist and City trader, now believes wealth inequality is the central economic problem. He recounts his experience during the 2008 financial crisis, noting how conventional economic responses like slashing interest rates failed to stimulate the rapid recovery economists predicted, leading him to question mainstream economic theory.
“The vast majority of people just said, well, I don't spend any money because I don't have any more money. Most people were basically, you know, money in, money ”
“Our parents generation, you know, even my parents, I come from quite a poor background. They all own property. You know, I went to grammar school, so I didn't k”
“the growth in wealth inequality, not income inequality, wealth inequality is being missed.”
“the reason that families are losing their homes and the reason that governments are going bankrupt is because the wealth that used to be being held by ordinary ”
“Families spending more on their income, losing their assets, going into debt. Governments losing their income... spending more than their income, losing assets,”