The Real Reason UK Growth Collapsed After 2008 with Tyler Goodspeed | IEA Live

Wait until working week get reduce to 4 days. UK will be on the manure

I think, the problems are cultural....Mrs T made a valiant effort to change that...then it derailed?

A famous American said the business of America is business.....lately, that has turbo charged....hence, the blushing inequality.

55 Tufton Street, home of the IEA, gave us Liz Truss, what a disaster that was. And it seems Kemi Badenoch is also in bed with the IEA. The Chief Economist of ExxonMobil, advising anyone on Economic affairs seems rather suspect...

Look to Homebase as a prime example of poor management! The same people left Woolworths and went to Wilkos! All the crap Kingfisher got rid of at B&Q went to Homebase! In a nutshell, HR ran these companies! And as the saying goes, 'go woke, go broke'!

There needs to be denationalisation of public services, welfare and fiscal decentralisation. Fiscal centralisation has led to a misallocation of resources and unaccountable politicians spending other people's money. Also, there needs to be an end to the Barnett Formula.

Factors that affect growth:
Finance, use of land resources, tax on labour, energy. Its not rocket science. Just a shame that no uk government seems to be able to grasp it

Great - some real diagnosis of economics issues of UK, at a generational level, as we flip between old command and control, camouflaged as current erroneous psudo capitalistic free market, and more social approach, although with control firmly in banking sector control of economy by way of political correctness of the mortgage system, amplifier through the generational change of pensions system.....go figure

What about the Chinese economic model?

The problem is “Socialism”
Although not totally “Socialist” , the UK has an obsession with taxation on people to fund the least productive in society.

Its all meant to be like this.
If banks could make money from drowning kittens, you would have an ETF in your pfolio!

0 analysis

We have spent over 300 million in one year defending Israel with our military, if this money was spent in the UK and on British tax payers the economic outcome would be very different. The longer we follow America the poorer we will become.

This is an infamous right wing propaganda institute. You have been warned!

The IEA...funded by anonymous billionaires who don't want to pay their fair share of tax...!

14 tory years an uk is afrikkan sum, toris have a affrikans leaer now

the british establishment wants people in the uk & around the world to believe that the uk deserves to be recognized as an engine of opportunity; even though the entire country is built on the barely-hidden premise that any & all opportunity is to be afforded in such a way that it maintains an aristocratic elite

I think that the easiest way to picture the reality is to consider schooling in the uk. in the uk, just under 6% of children in school attend 'independent schools.' if you work with that number, it suggests that for every 1 independent-attending schoolchild there's 16 that aren't. the open sales-pitch of the independent schools is that they provide an especially rounded education for young people - but the offer is really that they are taking all future 'dead-end' employment off the table & guaranteeing opportunity for as much 'non-dead-end' employment as you might trouble yourself with.

I attended both independent & state schools in the southern part of the uk. the independent school was portsmouth grammar school (not a renowned, historical, elite establishment) & the state school was chichester high school for boys (at the time, the latter liked to think of itself as having the ambition & ability to provide all the necessary education for those open to receiving it). at the independent school the yeargroup was split into 3 sets of around 25-30 pupils each, roughly-speaking by ability. at the state school, the yeargroup was split into 2 parallel streams of 4 sets of around 25-30pupils each, roughly-speaking by ability

iow, for those subjects / activities where teaching provision was broken down by some understanding of student ability over the entire group, you had one top set at the independent school / two top sets at the state school; you had one middle set at the independent school / four middle sets at the state school; & you had one bottom set at the independent school / two bottom sets at the state school

if I were to sort the two school student bodies according to the exam results that I believe the students could have been taught to (allowing for the increased availability of resources (in & out of school) afforded to those students attending the independent school), I think I'd have been looking at 100% (without illness & personal crisis) of the independent students mixed with perhaps a little over 25% of state school students. that is to say, imo, if the independent school hadn't been able to educate its entire student body to attain exam results placing all of its students higher than the top 30% of students from the high-performing state school, it would have been failing its students

maintaining this is a simple exercise in resourcing. the resourcing isn't only related to parents' financial ability to enable a child to attend an independent school, but extends to additional financial support for academic & extra-curricula pursuits, parental & peer networks ability to further opportunity, & so on. the 'independence' of these schools is, really, that they & the networks they maintain offer a guaranteed route to success that is entirely independent of natural talent or hard work

the children of the established elite attend only a tiny handful of these independent schools - the vast majority of the independent schools act as a 6% buffer over the other 94% of the population. by my experience, you're looking at 6% of all children, whose parents are in a financially-stable-enough position to allow them to consistently attend an independent school, being afforded access to life-long paths of job security & progression that are entirely off-the-table for 75% of the 94% of children not afforded independent schooling provision - & my experience was of a state school in an affluent area

it doesn't take a genius to work-out that this kind of top-heavy system is itself the problem, & that every figure within the political landscape is contributing to the further diminishment of opportunity. british schooling orders competition, which locks the ability to fail upwards around an aristocratic elite into the heart of the system. you can't claim to be an engine of opportunity when you're hiding the elite capture of the institutions of state, providing an opportunity for 6% of children from the most financially secure backgrounds to coast along in life-long financial security, being given their choice of career opportunities, & denying 70% of children any chance of any of the same opportunity. there's only so many ways the politicians can continue to distract young people from a reality that the politicians have proved themselves unwilling or unable to address

this is also before we get into additional extremes of elite/state-gaming of the system that may exist

the uk has had twenty-five years of supposedly empathetic / sympathetic politicians & media trying to spin their way out of the continuing reality of elite-capture. young people in britain aren't fooled. people around the world aren't fooled. you can look for as many ways to make the uk look like an engine of opportunity as you want, but at this point it's clear that elite support for the idea is sleight of hand & cover for further grift

When your main economy is the financing sector and you leave your main customer, dont expect nothing else.
UK must copy Singapore

BRITAIN 🇬🇧 IS BROKE BANKRUPT
NO MONEY IN PENSIONS PLANS
BECAUSE 2008 WALL STREET TAKE MONEY AWAY 😂😂😂
BRITAIN 🇬🇧 IS 💯 DEBT WITH GDP
PUBLIC AND PRIVATE DEBT IS TWICE AS MUCH
COSTUMERS WILL PAY THE PRICE
THE WORSE IS TO COME
EDUCATE YOURSELF AND GET OUT FROM FIAT CURRENCY FAKE MONEY POUNDS 💷

Yes we have high taxes in the UK but he doesn’t mention that our taxes pay for healthcare which consumed a median of 12% of income in US if you include premiums and deductibles . We also have a more generous social safety net. You can’t compare our tax rates honestly without mentioning healthcare. We may be poorer but I don’t want to be anything like the USA when it comes to how they treat the poor.

the IEA should not be allowed to exist.

What a woad of wollocks!! it impresses me everytime how far theese right wing economists will go to, make you think it's about being lazy and taxation, its the pay gap between rich and poor.
and then fueled by greed on a personal level.

What speaker said is that UK was destroyed by Tony Blair and Gordon Brown. Whatever is left of UK will be annihilated by Keir Starmer. Great news.

What is missing from this timeline of economic shift the selling of the UK's most profitable assets to foreigners! We went from an import/export empire, directly too import without the capital financial gains to put back into our economies thus causing stagnation, high unemployment, low sector skills, people leaving education environs not having the skills to meet the national employer, we relied on EU commissions funding for objective 1 and 2 areas areas once thriving in industry and financial contribution to the wealth of the nation, including the people. NET ZERO can work well if you are a Rich Country in assetts and industries, and trade securities for the future non that the UK has because we have poor in knowlege, skills, mindsets individuals who should not be anywhere near running and managing a company, nevermind and entire country!

Lastly, we 2025 have lots of foreign interference going back beyond 2008, where the supply of good, services and products are being manipulated, downgraded in terms of (QOS), Quality of Service, in terms of measurement against description the performance of for example a device such as a laptop, how to get the best performance never defined in the operators manual, more that matters to those living under as stated in the video the contested poverty line. If I told you I could get the UK the cheapest Electricity it would be contested to where and who would supply, but if I explained that people in our political system and not alone, were benefiting directly from the sale of Electricity before it got to the consumer what would be the debate, possibly one of manipulation, deception and distrust of those responsible has caused the decline of the UK and of British politics, of certain Politian’s the divisions that exist the lack of accountability or even criminal sentencing!
is part of a trajectory that keeps happening!

Didn't these guys support Brexit, and support Truss. The points Goodspeed are known. The solution seems to be gut everything, and de-regulate. That would mean the NHS in its current form would cease to exist. I agree with the point about nothing gets done and you are penalised for attempting to grow.

It's because billionaires take all the land. There's a fixed supply of land. If you're a billionaire with too much money, what do you do ? You buy land. what does that mean? There's less available for others. Effectively, the supply of land gets continually squeezed so house prices get ratcheted up. People will remain poor as long as house prices remain high Nothing to do with growth or productivity.

I visited Mississippi years ago (Baxterville) and it was then extremely poor - some children with no shoes and chickens in some of the homes!
It seems impossible for me to think the UK is now poorer than this!! Maybe he means the growth rate in Mississippi is now greater than the UK?

I think starting a fake war with Russia , forcing Europe to buy overpriced US gas , has a huge effect on Europe economy . I hope the European government stopped following American like a lapdog

I cannot take seriously anyone called Tyler Goodspeed.
Sorry, but "No."

The example of the United States is terrible. In the first 3 statistics he gave not one was positive in favor of the US. You DO NOT want the majority of corporate funding to come from venture capital or private equity firms because that's the most sure fire way to become an OLIGARCHY like they are. The tax point was the only correct one. It is beneficial that the marginal tax rate is lower.

Only just started this but pretty certain the uk doesn’t have the shale deposits the us has. It has some but not that many (I believe). Also yeah shale is good but wells need moving frequently so it’s not like 1970s oil where a rig could sit there for years producing. There will be new tech etc but basically maybe a decade or two of shale before it gets uncompetitive to get it. Admittedly this would dig the us and the uk out of any short term hole as long as efforts made to diversify - nuc renewable etc. agree with what the guy is saying but it’s not a panacea….. energy costs is one of the issues we are not growing. Also the easy North Sea stuff has been taken. I am not saying that it won’t work for a while and might be the solution to get the uk going but it’s not as cheap as it was and if the us isn’t careful it’s going to hit that 2007 graph. Luckily Texas is going wind and storage and oil. That’s the difference….

Moral relativism between the UK and USA, please! People are not bank balances they are living organisms with feelings, health needs and aspirations. If the USA is so superior, why is the life expectancy lower even though more per capita is spent on healthcare? Why are so many people living out of cars? I have never met a person in the UK who has to live out of a car. Why is the the murder rate so much higher? Why is a higher proportion of the population obese? Why are more people on anti anxiety and anti depression medication? Why are people travelling to Mexico for medications? Because pin-striped douchebags have monetised money and forgotten that people are not bank balances. People are living organisms with feelings, health needs and aspirations.

American dont giving me my money?

Did he mention that with the help of the IEA, the UK left the customs union and Single Market and now has mountains of paperwork and tarrifs with its largest trading partner, and that this has destroyed many small and medium sized businesses while decimating our farming, fishing and manufacturing industries and causing inflation? It's hard to take the IEA seriously when they talk about growth after all the support they put in supporting Johnson and particularly supporting his extreme, populist/nationalist version of Brexit.

You forgot what drives you. You are a post Christian society, living off of the echoes of a competitive free market economy. You are slowly forgetting the lessons of the Reformation and the Enlightenment.

You have completly missed the the point. There is no future for the youth . We give them the option of a passable life on benifits or nothing . e.g. My son 34 is a porfiessional engineer building parts for Airbus .His salary does not permit him a realistic chance of owning a decent house . If that is where we are, we screwed. All we produce and value in the UK are MBA managers and bureaucracy.

The GFC signalled the end of the growth of economic activity funded by private debt expansion. This was inevitable but unpredicted by mainstream economists who don't consider private debt and banking in their views. Post-2008 the USA fell back on the 'extraordinary privilege' of maintaining their economy by Federal debt expansion enabled by the USD being the global reserve currency for the time being. Other countries have realised this is unsustainable in the long-term. The resultant changing patterns in the international payments system will result in either: dollars not needed for trade between third party countries and surplus to that needed for trade with the USA massively devaluing the dollar internationally or; the USA simply defaulting on it's overseas bond debt- refusing to pay interest or repay principal. De-facto this has already happened with the seizure of Russian assets. Russia has also shown that using the USD is an option not a necessity, and those countries that adhere to US hegemony will go down with the sinking ship while those that reject it will rise.

UK doesn’t benefit much from immigration either. Way too many non-working migrants from the Caribbean, Pakistan, the broader Middle East and Africa. The U.S. has an issue with illegal immigration but it also gets some of the most productive immigrants in the world.

Never compare small nation like U.K with the large nation rich in resources like the Capitalist U.S where there is a a huge inequality. Blindly copying the Anti-Working Class and Corporations controlled U.S economy like Margaret Thatcher did destroyed all U.K industries hurting the working class the most.

The richest 1% in the U.K. own more wealth than 70% of the population.

That is the root cause of the crisis with the U.K. and other western societies. Does the monied class want the disenfranchised working class to know this and dare to demand a change in the economy and wealth distribution? Hell NO.

They’re rich and powerful enough to influence politics and politicians. So politicans can’t be trusted to fix the problem.

So, the white working class are encouraged to blame the “other”.. immigrants, Jews, Muslims, blacks and even women.

When it gets out of hands, then this is what we have, a charlatan like “Tommy” but it could be worse, that’s how Germany got Hitler and the U.S. have Trump but luckily Trump is not as crazy as the stupid liberal media makes him out to be. If care isn’t taken, the west will get to the Hitler level again. Then followed by atrocities and cries of “Never Again”.

The US has used insane money printing to juice growth and got away with it becos it has reserve status.

Excellent talk.
The banking regulations were tightened up in the wake of the financial crisis for good reasons - institutions that were "too big to fail" had to be bailed out at taxpayers' expense. If the regulations are repealed we risk repeating the lesson. The arguments about restructuring by facilitating challenger banks and private equity are interesting though

I think the U.K. government treats the country in a way most suited to the City Of London, which is the most lucrative part of the U.K., and Taxation and debt is used to control the masses. With the tax structure punishing success it is almost impossible to become wealthy without a family legacy as income is taxed so heavily away. Social mobility is thus the lowest in Europe.

More than half of the population is foolish enough to think Brexit will make UK better, but they can't afford the higher living cost after Brexit.😂

The mod. described the talk as a ‘tour de force’! He is easily pleased. This was nothing but waffling! The UK needs to join some sort of single market; at the moment it has no access to a large trading block!
Notice that there is no talk amongst the other EU nations about leaving the EU! They observed what a success Brexit was??

UK has to been one of the most laziest and useless countries in the world.
Imagine looting half of the world for 200-250 years and extracting it's resources only to end up broke after 60-70 years of the loot ending lol.

The main problem that for PM Starmer 'Growth' was just an 'Election Slogan'. Now he 'won' the election, he does not care anymore.
Starmer has absolutely no intention of creating real growth, other than carrying on with uncontrolled mass immigration.
Uncontrolled mass immigration delivers a kind of growth and also delivers millions of new, low skilled Labout voters.
Overall, that video is a pointless discussion!
Labour is 'Tax and Spend' - all the way!

The problem is and always has been socialism. A pernicious ideology that is a serious problem to economic growth. It’s like a poison to the body.

The same think tank that helped developed and supported the Liz Truss disaster 😂