One of the most powerful and meaningful interviews. Gary is a force and James O’Brien needs to have him on his radio show every time there’s a budget, every time there’s news on economy, and every time a Government makes decisions on wealth and Tax. We all need Gary’s voice heard.
That sounds like a great idea. All those people that the BBC etc interviews after budgets and economic crises always look as though they live in a very wealthy background and Gary comes from the sort of area and income that many people do.
@@juliewake4585 The way he describes being in the trading floor with a bunch of millionaires and learning if you want to learn about the economy, go out there and ask normal people about it... makes total sense.
Professor of macroeconomics William Mitchell (Bill) is one of the world's leading hexerodox economists. He has been writing about this for years. He warned about the 2008 GFC and many more, he has always been right. He is warning again just like Gary. The problem for decades has been group think concerning neoliberel policies that have shaped our economy. Reclaiming the State is an excellent book that I would recommend both for students of economics and the general public for further understanding in this field. It's purposely written for the ease of general understanding. (no mathematical skills are required, it's more like a story of how we got here and how to change for the better.) A great accompanying book for Garys. The history would help traders to understand the whole economy and it's complete structure. I would recommended both.
Totally, it is the framework that government policy is applied to globally. It shows all possibilities with in that framework, like there is no need for unemployment, there is no need for austerity. It's great that Gary has provided a platform were economic truth is not removed. @@HistoritorJimaldus
The problem is if a politician ever manages to break through and try to reverse inequality (most recently Corbyn) public school boys in the media like O'Brien do everything in their power to stop it happening. Hypocrisy of James nodding along here is maddening
@@lenwilkinson672yes. “A conversation between a journalist or radio or television presenter and a person of interest, used as the basis of a broadcast or publication…” In what way does this not meet that definition?
@@perrymason866 I am guessing he would like to see more searching questions. JoB doesn't have the intellect to challenge anything Gary says. For example: 6:04 "We know the government makes a loss here".... which underpins his assumption the rich must have made a profit. But by his own description, the government printed the money via the BoE and made no loss. The loss was to anyone that held cash as the value of the cash was reduced by the subsequent inflation caused..... its not the poor who have large cash saving btw. 8:34 Enormous increase in house prices down to inequality....... but house prices keep rising purely because of a mismatch between supply and demand. We haven't built enough houses to keep up with the massively increasing population. FYI Around 65% of people own their own home. Then there is the bit where he is saying luxury goods were the only ones shut down...... but people couldn't go to their local pub, go to the cinema, watch sport etc..... it's just not true that the effect of lockdown was to shut down only luxury goods. It shut down anything that involved physical/social interaction. Yes, we need less inequality. But the real problem is every growing government. Government is captured by the rich and powerful. The rules of markets and laws are written in their favour for their benefit. We don't live in a capitalist system with true competition anymore. That's your real problem. And yet the public are demanding bigger and bigger government because they think it will protect them, govt doesn't work for the people. If you read this far well done :)
James: As an American who listens to you live almost daily, I want to thank you for your work and especially for interviews such as this. LBC is my portal to the world away from the mainstream US media and you and your colleagues are simply brilliant. Gary: I'm 62 years old, studied finance in university, worked in banking, and have spent the last three decades of my life trying to make sense of this world; these sixty-three minutes have just made everything crystal clear. I am now a follower and believer! Can't wait to read your new book (and also hear it in your own voice.) Bravo!
Hope you enjoyed his book as much as I..if only the American and British middle classes had been introduced to these principles in grammar school, the world be a better place right now. 😊
if we had Gary Stevenson for any of our journalists, you know, just some guy that can actually stop and look at it all and go "hey, wait a minute", media might have done literally anything about this, at any time, any of the many times it had millions of opportunities over the last 10 years. Instead I remember them talking up about benefit cheats, justifying austerity extremism, quoting politicians going "got to have a strongeconomeh", bullying striking doctors, nurses, teachers, pulling the confused wince face at anyone that wanted to vote out the Tories, platforming pavlov's dogwhistle, only to then rhetorically ask people, who don't have platform to give to dogwhistles, why is it that they salivate, every time the dogwhistle whistle gets blown - which, if they checked what their trade is up to, any week, every week of the year, all year, every year, at any time over the last few decades, they'd have noticed how often it gets blown. But, "what I can't understand, is -and I hope you can help fill me in on this, is how can you, (just some member of the public with an opinion); *how can you say that?*", saith the platform, as-if it doesn't know.
We need interviewers to bring Gary on for multiple interviews. Everyone spends all of the time going over his origin story trying to understand how the unicorn they're talking to exists, meanwhile I'm sure he has more to say if there was just more time to say it. Great interview, but everyone who wanted you to bring Gary on already understood how smart and special he and his message are. Bring him back on ASAP.
The unicorn that you mention is predictably obsessed on by James O'B! I love him, but he loves mentioning his own financial privileges, often in delightfully humorous and naive opinion, but it becomes a little annoying here! More time for Gary!!
I suspect there is no answer to that point just yet. Firstly get corruption out of control of the economy then work on changing the system to something that is fit for purpose
This guy seriously knows his onions.. Even though we’ve all played Monopoly, he’s one of the very few people that seem to remember how the game ultimately comes to an end.
What with my mum getting bored half way through and me and my cousins drunkenly shouting at each other😂. Actually that does sound a lot like the current situation
His book’s well worth a read. Hope he eventually goes into politics and goes a step nearer to fixing the economy. Can’t see anyone else even remotely willing to do this. It’s dog eat dog in the political world for fame and fortune. Gary’s had both so would be an excellent leader or, at the very least, a thought provoker. I look forward to following his life stories.
Easily one of the best (possibly even *the* best) episodes of Full Disclosure I've listened to - and I've listened to a lot. What Stevensn has is *insight* - he's got the ability to see something and explain it so it becomes obvious to other people. An incredibly rare ability. Thank you so much for this interview.
I am one of those people who begged you to interview Gary after listening to him for the last year and a half. I knew you would really enjoy talking to him. 😊 You're welcome.
@@JamalBrown-k1x I could answer that for you - that's what taxes are for. When the government promises to cut taxes to appease voters, what it's actually doing is cutting its own budget, therefore offering to make your public services and public sector departments actively worse. And people vote for this because they think 20p in their pocket a week is worth losing bus and hospital services. Maths GCSEs are obviously not forthcoming
@@JamalBrown-k1xit prints money.. problem is that it doesn't continue to circulate and it instead is rather stockpiled by the uber wealthy.. and accruing interest all the while.
@@JamalBrown-k1x Taxes, but the rich that benefit from the lack of government funds wouldn’t tax themselves or their friends. So they will find ways to make more cuts and tax the lower classes. But they can only get so much out of us before either the bubble bursts, or social uprising. They’re playing a dicey game, and there’s only one generation left in it before something severe happens.
Best interview I have listened to on you tube. The interviewer was not afraid to ask hard questions and the down to earth fellow was brave enough to answer them. Honesty and integrity. A1
What an amazing man Gary is. Not a fan of James O 'Brien but you conducted this interview so well. You should do more of these .. I feel Gary's pain he is still so vulnerable . I wish all the best for him. ...
I would say he cares about wealth inequality to be specific. Which i hasten to add is a noble cause. I like him, he seems genuine, which is more than I can say for james 😂
@@jjboswell5043 Let me guess you're one of those people who that thinks anyone who preaches against wealth inequality should give all their money away.
@@jjboswell5043 More cutting than I would have put it but I get you. Whilst I can listen and nod along to a lot of what he says, at the same time it's the same system that's allowed him to become a millionaire (potentially at others expense or hard times). Now he's telling everyone it's bad. All very well, but he's got his hasn't he.
With how the new Labour government has been, how long before what Gary is speaking about is branded as “hate speech” or “dangerous for democracy” and you can’t find him on any site anywhere?
Wow! When it’s laid out that honestly and simply it makes you realise that there are no politicians who will fix inequality and tackle the real crux of the issue. What an incredible interview
What a lovely lad. He’s laying himself bare. He really cares about society. We need him and more like him, who have clout and will speak out against the social injustices that are growing.
I’ve been following Gary for quite some time, and it is refreshing to hear a refined definition of what we all suspect to be the reasons behind our declining living standards. He is relaying a simple and compelling message to anyone who has the sense to listen, that is, that unless we end the overbearing burden of wealth inequality, our children and grandchildren will continue to experience ever worsening standard of living. However, each time I listen to him I’m filled with despair, because I understand that none of the people who could actually bring about a change in direction are paying any heed to what he presents as the patently obvious. Even Labour, a party born from the desire to create a more equitable society, cannot bring itself to detach from the pervasive scourge of Thatcherite neoliberalism, and stem the flow of wealth from the masses to the engorged few. I will trudge into the polling booths this year in a bid to oust a Tory party in its death spiral, but there will be be not an ounce of hope going into that x against any candidate that can rid us of our Tory MP. The next Labour government will merely better manage the decline that we will continue to endure until the world comes to its senses and listens to the likes of Gary Stevenson and acts upon his sensible and practical suggestions.
Mrs Thatcher was never neoliberalist, neither was she a scourge. She believed in peace and freedom, prosperity for those who earn it, family values and a small government . We need her back.
@@stuartbritton4811 she was instrumental in unleashing the hands-off deregulation of the financial sectors, which ultimately led to the banking crash of 2007/8. She is not coming back, due to the fact that she is long dead. We continue to deal with her ongoing legacy of the impoverishment of the middle and working classes, while a select few take an ever larger share of the stagnant and often shrinking national cake.
I feel like being a kid is thinking that the problems in society are simple. Then you start growing up, and you realize how nuanced everything is. Then you mature, and realize yes life is nuanced but some things are pretty black and white, and multibillionaires and starving children should not exist in the same world. Theres a million ways to lie, there’s only so many ways to tell the truth.
Simply amazing!! I heard Gary Stevenson before and I love how clearly and openly he speaks. I can imagine it's difficult to confront yourself like that! Much love, Gary!
Wow……who’d have thought an interview on economics could bring such heartfelt insight and empathy for ordinary people. Gary is a modern day knight that doesn’t hide emotion. Fabulous interviewer that encouraged it to flow so well. Bravo
First if all i get a vibe he does this for personal gain, second what is inequality even ? Nobody is entitled to anything, 50% tax is already super criminal what else did you want
@@BambotbWhat 50% tax are you referring to? Top income tax rate in the uk is 45% for £150k and over. Income taxes don't do much for inequality anyway, it's the accumulated wealth we need to address.
he gets what? I dont see him helping the poor, I see him helping himself by peddling his phoney book onto people poorer than him, some care that. Are people better off financially buying his book or are they now poorer? so he is the largest hypocrite known to man
@@matthewwatt2295 what is inequality even ? how about we apply inequality in school everyone get an A then :D the best student have to give grades to the less privileged students :D also how about passport inequality africa should have same passport power as the UK :D
@@James_36 he is a liar he said in one video he made 11 millions off japan eartquake then in another 6 hahaha clearly an evil pos in it for himself, you can never trust anyone who lies about such things
"In this culture we give to young people especially young men but not just young men that tells them "You are the money you make" and if you don't make money you're a failure, and if you make money you're great, and simultaneously gives them virtually no realistic chance of making money, you are kind of training a psychopathy into these guys because you put them in an impossible situation." To me the most profound statement in the interview that Gary has said.
I loved these, but for me it was also "if they had won they would stop" when referring to the motivations of the rich... Wow that's so true about the mentality of these people. At that moment I realized that much like Gary was at his lowest, they are mentally ill. I don't mean that in a disparaging way, I think they literally have emotional deficiencies that require treatment... Yet we've idolized them and put them in charge of everything instead. 😮
It isn't culture, it's biology. Women desire status so they pick men with higher status. Money, fame and power are the key status indicators so young men will chase those things. Money is the easiest of the three to get so young men become obsessed with money. Gary is very intelligent but his understanding of the world is one dimensional. Also, every economist I have ever spoken to is obsessed with distributions. Don't put people on a pedestal just because they are gifted and say things you like. He is another finance bro collecting a cult following because he is certain he is smarter than everyone else.
@@SurmaSampo "Gary's view of the world is very one dimensional" immediately following "It isn't culture, it's biology", probably one of the most one dimensional views of the world 😂 Make it make sense!
@@DrPhoerrets If it replicates across cultures it is biology dude. It is also backed up by evolutionary psychology. If you think biology is unidimensional you might need to go back to school dude.
Hands down the best interview with Gary I've watched out of many. James conducted a masterclass in how to interview someone to gain maximum insight into who they are. Brilliant job
Gary is probably one of the most important people of our age. Everyone needs to listen to what he has to say, particularly those on the left of politics who could be in a position to make change happen.
I just wanted to say. THIS is what Jeremy Corbyn was advocating. Tax the super-rich more to address the wealth inequality. But he got destroyed by the label of anti-semitism and behind that were the media. Would you rather be like the USA or Norway?
Not that O'Brien would ever credit Corbyn. He got what he wanted when Corbyn was defeated in 2019. Despite his complaints, the value system of the likes of O'Brien prefers Tory rule rather than anything like democratic socialism.
USA and Norway extract huge amounts of hydrocarbons. It was the left that demanded during Covid that everyone stays at home dependent on government subsidies.
@@michaelrch . I wonder if his views could be changed from his conversations with people like Bernie and Gary? After all, he is the product of his environment...as are we all. Rather than just blaming O'Brien for his opinions, it may be better to explain where his blind spots are, and how changes could be made which would create a better society. Listening to his radio show, it appears that he would welcome a more equitable distribution of wealth, if only to improve the lives of more people. The most successful societies are those where wealth inequality is the lowest.
@@curmudgeon1933 no, these people never change. They are big and bold and radical when there is zero chance of any change (like now), yet when the establishment is not entirely safe and there is a risk of it being challenged then they suddenly full fully behind the establishment to destroy the threat.
One of the reasons JC was defeated so badly - even though if only a few thousand people had voted Lab things would have been very different, is that even seeing JC as fundamentally right, there was always something that didn't feel quite right with him, media bashing apart. BJ was the opposite. He knows how to use the media for his profit, and he did. All his mandate was pure propaganda and posturing for self-serving only goals.
Martin Lewis is great but I wouldn’t put them in the same category. Martin teaches how to “survive” the rat race, while Gary has actual world changing solutions.
Tx for the interview. I come from poverty (US) and now make a modest middle class living, having inherited a small home. I appreciate Gary’s perspective and hope that his point of view will be understood by more and more people.
There he is, an extremely intelligent young English guy who openly declares how he benefitted massively from his closeness to immigrants. Some idiots won't even have them as neighbors
@christopherdresser8061 and yet with an aging population, living longer, we literally won't have enough tax payers to be able to pay for retirees pensions or have enough health care workers to look after them without immigration. Where are your figures to prove there's too many people for the amount of jobs available? If that's true, in an aging population, then there's something fundamentally wrong with the economy and it probably has something to do with what Gary's saying about wealth and assets increasingly being concentrated up, in fewer hands, stifling growth
@christopherdresser8061over 250,000 adult social care positions available right this second, through out the UK. I’ve been a recruitment manager in 3 sectors and “30 applicants per job” was rarely the case and, when it was, 20+ of those applicants would not be adequately qualified to do the job.
Yet they are ostracized and villified. They have to be perfect on everything cause everyone around them wants to protect this system tha tbenefits them.
They are proof this system cannot be changed. How much money are the 1% going to pour into convincing everyone else that these people are a danger to world order? I’d encourage everyone to check out things like the Zeitgeist movement. Ultimately what Gary describes is a somewhat inevitable consequence of Capitalist Market economies
wow gary and james! what a top notch interview!! EVERYONE needs to follow Gary, he has a heart thats in the right place, and has the motivation with help from us all to make REAL change to make it happen!!
I kinda wish Gary wouldn't swear so much on other shows (this one was fine, btw!) I'm not offended by it (I'm working class and swear lots too, so don't think I'm a pearl-clutcher), but sometimes it's to the point where it's distracting and detracts from his message. A few f-bombs thrown in to emphasise important points is a nice bit of punctuation, but you can't do that when you say it every 3 seconds.
A breath of fresh air. Someone who finally speaks the truth! If only Gary could be the next PM he would get my vote. His solution to make Britain great again by addressing inequality makes absolute common sense. The issue is that govt and wider elites do not want the hard workers of this nation to see or understand it! If we continue down this road no one wins - we must demand better of our politicians.and demand it now.
So glad you got round to interviewing Gary been following him for a while he's the only one really talking about the economy and the serious outcomes from inequality.
Thank you so much for this program. This is something to which I really wouldn't have paid much attention in the past and I've had my eyes opened to certain things.
Clearly even more time is needed to talk to someone as interesting and insightful as Gary, cheers anyway! Great conversation, I can't wait to read the book
@@jakefarronmerlin7963 he understands the economy better than 99.9% of people... he is exceptionally intelligent (i.e. a genius). You speak as if he's some half-assed door jockey for a nightclub.
@alan_davis Unless you’re at a higher level of economic comprehension than you say Gary is at or at least near his supposed level, how can evaluate the veracity of your own statement? What I can say from my observation is that Gary speaks very imprecisely often saying things he doesn’t mean and that’s not typically the mark of a high-level intellectual. I simply don’t believe what he says on economics because of his imprecision and I don’t find his complaining and backstory compelling at all.
When I was homeless, I realised that there was only me that could change. Gary speaks the truth and gives hope in a hopeless world. So happy you interviewed him.
When you are homeless, your friends, family and network don't help you. Well, not long term. You can live by blaming others, especially when it's actually their fault. The point is that Garry and James mostly focus on the practical reality rather than the fiction out there. @@JamalBrown-k1x
What I love about your Full DIsclosure interviews is that you are writing notes during the interview. Very few interviewers do that, and I think that is an affirmative show of respect towards your guest. Well done James.
I was struck by how very different James is in his questioning when interviewing someone he has an affinity with. No more annoying interruptions, the guest can articulate freely on his thoughts and James sits back and listens. What a difference!!!
Awesome! So glad this interview happened. I'm a big fan of Gary's because he talks sense and he has an honest heart. it's great to see him being recognised. That was quite emotional at times.
This is a really great interview. James O'B asking great questions to get the best out of Gary and his insights and personal story. I've been watching and following both of these guys since covid times and I'm truly delighted to see them both together at last.
Followed both of these guys and am so pleased they’re sharing a platform. Gary knows the nuts and bolts of why & how we’re being ripped off.. Hope Keir’s lot are listening with a notebook.
Gary criticise and want to “tax the rich”, but he don’t get into specifics how it should be done. The problem is that “taxing the rich” will not solve any problem whatsoever. Even if you get in some more tax in the beginning you will soon run out of rich people to tax and you are back at square one. You NEED rich people to invest.
Gary is the smartest guy ive ever met, but it always his humour and infectious laugh that I always remember. Hes the biggest brain and biggest heart in Britain.... keep it up bro youre smashing it...
@@omarbeg2959 Okay. Fair enough. You know him personally so that will surely present a different experience. However, from what I see here he is an imprecise thinker, presents nothing original, cites no credible sources and appears to have a suspect backstory. Overall, he seems like a loud talker, who's intent upon sloppily rationalizing his own strongly-held moral conclusions (conclusions which he seemingly reached long before he ever started in economics) using economics as a thinly-veiled cover.
@@scootaymildo1070 I know a bit about the subjects he discusses and I find his thinking to be riddled with seemingly unsubstantiated generalities, biases and detail errors. It seems many of his conclusions are not reached as deductions from scientific-grade empirical observations about the economy or society but rather are rationalizations stemming from a chip on his shoulder he has had for a long time. In that context, his backstory -- which paints him as an establishment underdog who despite supposed world-class skill and knowledge (which I don't believe he has, in truth) can't find an outlet for his genius in an academia -- just lacks credibility. Too neat and tidy for me.
Thanks for having Gary on. I'm American and had never heard of him before so I appreciate the introduction. That was weird to hear about LSE and many Brits not knowing about it.. I'm just a regular middle-class guy and I've known since I was much younger that the London School of Economics was basically the British version of something like Wharton Business School over here in terms of it being a ticket to any high paying job in finance / business etc.
1. The Finance Industry is more embedded in American society than in British society. For much of our history, most working class people didn't even have a bank account, until relatively recently. So likewise, investing was something rich people did. 2. Most ordinary British people aren't even aware of the LSE, unless they are exposed to economic ideas. So, many wouldn't even consider it as an option. And Class is still behind a lot of the social inequality here. Middle class kids have the network knowledge that supplies such information. Working class kids are being segregated, and unless Mum and Dad have it, or if they're lucky to get someone who wants to foster their talent, they're ending up stuck at the bottom. 3. I found out about the LSE because my only outlet was education, and I have clung to that most of my life. But being born poor of illiterate parents, and, as I have discovered, neurodivergent, I can honestly say that the Education system in the UK is more akin to The Sorting Hat in Harry Potter now, than an arena to foster individual talents. I had to motivate myself to do that, because opportunity is often implicitly and explicitly rationed. And our culture is schizophrenic. They talk about meritocracy, but for that to work, you need a confident society. And instead, it's crippled by anxiety and insecurity. So, "I'm alright, Jack. Pull up the ladder" is interspersed with destructive, often needless crises of confidence amongst our elites, based on fear and insecurity, who then turn to social darwinism to massage their egos and to destroy the competition. Hence the rationing and fixation on scarcity. (Perhaps Hobbes has been too influential in some ways). The bright kids discarded as a result of this process don't get a chance to shine, so they find it in other means. Many ultimately in unsustainable, unhealthy, and self‐destructive ways. Gary knows the cards fell right for him. That's why he's a mix of arrogant self assertion and humility. He's been back home to where he grew up, and he's seen the results of people not being allowed to have enough. It's bad. And there's even less opportunity now, than there was before.
Increasingly infurating watching James talking about the 'struggle to communicate' the economic plight of young people. THIS WAS WHAT JEREMY CORBYN WAS FOR. And you smeared him relentlessly.
and by the way, I am sorry to break some terrible news: the world is not as we would like it to be, or as it "should" be. that's why religions promise heaven and people believe in such superstitions. there is a human drive toward belief in utopia, and socialism is a perfect example of this. socialism replaced christianity in the west. now after 200 years it is easy to see it is just one more myth, not based on truth and reality
Housing should be a human right and systems , education should be built around this , Instead of politics being about the distribution of suffering as it is at this time
Absolutely! “If nobody tells you how do you know?” I always try to enlighten people but I find it so frustrating that there are many who just won’t share. It would make life so much easier.
Gary Stevenson needs to be protected. I was so happy to hear that James O'Brian was finally going to interview him, he should have a regular slot on LBC or something.
One of the most powerful and meaningful interviews. Gary is a force and James O’Brien needs to have him on his radio show every time there’s a budget, every time there’s news on economy, and every time a Government makes decisions on wealth and Tax. We all need Gary’s voice heard.
Absolutely
That sounds like a great idea. All those people that the BBC etc interviews after budgets and economic crises always look as though they live in a very wealthy background and Gary comes from the sort of area and income that many people do.
@@juliewake4585 The way he describes being in the trading floor with a bunch of millionaires and learning if you want to learn about the economy, go out there and ask normal people about it... makes total sense.
@@fang_xianfu it really does
Love that, 100%
Glad to see you interviewing Gary. He speaks a huge amount of sense
The most sense compared to these corrupt Economists
Professor of macroeconomics William Mitchell (Bill) is one of the world's leading hexerodox economists. He has been writing about this for years. He warned about the 2008 GFC and many more, he has always been right. He is warning again just like Gary. The problem for decades has been group think concerning neoliberel policies that have shaped our economy. Reclaiming the State is an excellent book that I would recommend both for students of economics and the general public for further understanding in this field. It's purposely written for the ease of general understanding. (no mathematical skills are required, it's more like a story of how we got here and how to change for the better.) A great accompanying book for Garys. The history would help traders to understand the whole economy and it's complete structure. I would recommended both.
@@maria8809ttthe writes about MMT right? MMT makes the economy make so much sense
Totally, it is the framework that government policy is applied to globally. It shows all possibilities with in that framework, like there is no need for unemployment, there is no need for austerity. It's great that Gary has provided a platform were economic truth is not removed. @@HistoritorJimaldus
The problem is if a politician ever manages to break through and try to reverse inequality (most recently Corbyn) public school boys in the media like O'Brien do everything in their power to stop it happening. Hypocrisy of James nodding along here is maddening
One of the best interviews I’ve ever sat through and I’m 74, should be mandatory in schools.
Should be mandatory at labour conference too ✅
Labour and the Tories follow the same path. That's one of Gary's points.@@davidalderson7761
@51maineroad. Interview ? Really.
@@lenwilkinson672yes. “A conversation between a journalist or radio or television presenter and a person of interest, used as the basis of a broadcast or publication…”
In what way does this not meet that definition?
@@perrymason866 I am guessing he would like to see more searching questions. JoB doesn't have the intellect to challenge anything Gary says. For example:
6:04 "We know the government makes a loss here".... which underpins his assumption the rich must have made a profit. But by his own description, the government printed the money via the BoE and made no loss. The loss was to anyone that held cash as the value of the cash was reduced by the subsequent inflation caused..... its not the poor who have large cash saving btw.
8:34 Enormous increase in house prices down to inequality....... but house prices keep rising purely because of a mismatch between supply and demand. We haven't built enough houses to keep up with the massively increasing population. FYI Around 65% of people own their own home.
Then there is the bit where he is saying luxury goods were the only ones shut down...... but people couldn't go to their local pub, go to the cinema, watch sport etc..... it's just not true that the effect of lockdown was to shut down only luxury goods. It shut down anything that involved physical/social interaction.
Yes, we need less inequality. But the real problem is every growing government. Government is captured by the rich and powerful. The rules of markets and laws are written in their favour for their benefit. We don't live in a capitalist system with true competition anymore. That's your real problem. And yet the public are demanding bigger and bigger government because they think it will protect them, govt doesn't work for the people.
If you read this far well done :)
James:
As an American who listens to you live almost daily, I want to thank you for your work and especially for interviews such as this. LBC is my portal to the world away from the mainstream US media and you and your colleagues are simply brilliant.
Gary:
I'm 62 years old, studied finance in university, worked in banking, and have spent the last three decades of my life trying to make sense of this world; these sixty-three minutes have just made everything crystal clear. I am now a follower and believer! Can't wait to read your new book (and also hear it in your own voice.) Bravo!
I'm proud to say my daughter works for LBC.
Hope you enjoyed his book as much as I..if only the American and British middle classes had been introduced to these principles in grammar school, the world be a better place right now. 😊
Beautifully put John. Respect.
The world needs more Gary Stevensons
About 10 million more in fact.
Those that advocate using a third party to steal from one group to give to another?
if we had Gary Stevenson for any of our journalists, you know, just some guy that can actually stop and look at it all and go "hey, wait a minute", media might have done literally anything about this, at any time, any of the many times it had millions of opportunities over the last 10 years. Instead I remember them talking up about benefit cheats, justifying austerity extremism, quoting politicians going "got to have a strongeconomeh", bullying striking doctors, nurses, teachers, pulling the confused wince face at anyone that wanted to vote out the Tories, platforming pavlov's dogwhistle, only to then rhetorically ask people, who don't have platform to give to dogwhistles, why is it that they salivate, every time the dogwhistle whistle gets blown - which, if they checked what their trade is up to, any week, every week of the year, all year, every year, at any time over the last few decades, they'd have noticed how often it gets blown.
But, "what I can't understand, is -and I hope you can help fill me in on this, is how can you, (just some member of the public with an opinion); *how can you say that?*", saith the platform, as-if it doesn't know.
We need interviewers to bring Gary on for multiple interviews. Everyone spends all of the time going over his origin story trying to understand how the unicorn they're talking to exists, meanwhile I'm sure he has more to say if there was just more time to say it. Great interview, but everyone who wanted you to bring Gary on already understood how smart and special he and his message are. Bring him back on ASAP.
Great messages are usually simple , at least at first hearing. People with no capital must organised together to radically reduce inequality.
The unicorn that you mention is predictably obsessed on by James O'B! I love him, but he loves mentioning his own financial privileges, often in delightfully humorous and naive opinion, but it becomes a little annoying here! More time for Gary!!
He's going on Novara media for the second time tomorrow so might get you wish
Wish they'd focus on what happens next and how ordinary people can influence things. Who do you vote for????
I suspect there is no answer to that point just yet. Firstly get corruption out of control of the economy then work on changing the system to something that is fit for purpose
Thrilled to see this interview. Gary is worth his weight in gold. I really hope his message can reach as wide an audience as possible.
This guy seriously knows his onions..
Even though we’ve all played Monopoly, he’s one of the very few people that seem to remember how the game ultimately comes to an end.
Did you know monopoly was originally a game to preach against capitalism, lol 😆
What with my mum getting bored half way through and me and my cousins drunkenly shouting at each other😂.
Actually that does sound a lot like the current situation
When I was a kid it usually ended with me getting angry and flipping the board over. Anyone up for revolution?
@@pnw86Yes me too! And I think the current situation is heading in “that” direction…
After the end of the game, there ultimately is a wealth redistribution to start a new game. That's the only way to keep people playing.
"They get paid more to bet on it than they do to fix it."- there it is.
They need to dig in more to that I thought
Yep
How going short on something, effectively betting it will lose is allowed, I will never be able to fathom.
Jesus Christ. This was about 12x more thought provoking, moving and educational than I expected. So glad to have stumbled upon this.
12x? Not 10x or 15x? 😂
I'm excited that there seems to be movement to actually defend ourselves against the destabilization of wealth disparity to our system!
@@Natty183if you’re using Fiat currency system tools to do it…the likelihood you’ll actually find a way is minuscule.
Buy his book.
His book’s well worth a read. Hope he eventually goes into politics and goes a step nearer to fixing the economy. Can’t see anyone else even remotely willing to do this. It’s dog eat dog in the political world for fame and fortune. Gary’s had both so would be an excellent leader or, at the very least, a thought provoker. I look forward to following his life stories.
Easily one of the best (possibly even *the* best) episodes of Full Disclosure I've listened to - and I've listened to a lot.
What Stevensn has is *insight* - he's got the ability to see something and explain it so it becomes obvious to other people. An incredibly rare ability. Thank you so much for this interview.
I agree!
I agree.
Great comment, I agree. Not only does he possess that rare ability, but he also genuinely cares.
I am one of those people who begged you to interview Gary after listening to him for the last year and a half. I knew you would really enjoy talking to him. 😊
You're welcome.
me too
In one of these interviews, can you please get the interviewer to ask. How would the government fund its self if it can't borrow or inflate.
@@JamalBrown-k1x I could answer that for you - that's what taxes are for. When the government promises to cut taxes to appease voters, what it's actually doing is cutting its own budget, therefore offering to make your public services and public sector departments actively worse. And people vote for this because they think 20p in their pocket a week is worth losing bus and hospital services. Maths GCSEs are obviously not forthcoming
@@JamalBrown-k1xit prints money.. problem is that it doesn't continue to circulate and it instead is rather stockpiled by the uber wealthy.. and accruing interest all the while.
@@JamalBrown-k1x Taxes, but the rich that benefit from the lack of government funds wouldn’t tax themselves or their friends. So they will find ways to make more cuts and tax the lower classes. But they can only get so much out of us before either the bubble bursts, or social uprising. They’re playing a dicey game, and there’s only one generation left in it before something severe happens.
Best interview I have listened to on you tube. The interviewer was not afraid to ask hard questions and the down to earth fellow was brave enough to answer them. Honesty and integrity. A1
What an amazing man Gary is. Not a fan of James O 'Brien but you conducted this interview so well. You should do more of these .. I feel Gary's pain he is still so vulnerable . I wish all the best for him. ...
Ditto to this comment. I only came here thinking Gary was going to rip James a new new one .. 😂. But he sat there and listened for the first time
@@jayyelland8289No, he was talked over for the most part. Anyone would think it all happened to James.
I love Gary. His stories and messages are profound and have been life changing for me.
Big respect for Gary, he genuinely cares about society
You bought it? Wow. Come heads can talk anyone round.
@@jjboswell5043do you disagree with his message?
I would say he cares about wealth inequality to be specific. Which i hasten to add is a noble cause. I like him, he seems genuine, which is more than I can say for james 😂
@@jjboswell5043 Let me guess you're one of those people who that thinks anyone who preaches against wealth inequality should give all their money away.
@@jjboswell5043 More cutting than I would have put it but I get you. Whilst I can listen and nod along to a lot of what he says, at the same time it's the same system that's allowed him to become a millionaire (potentially at others expense or hard times). Now he's telling everyone it's bad. All very well, but he's got his hasn't he.
Finally Gary in the mainstream 🎉
Brilliant as always Gary. If only more people would listen to you. Thank you for the interview James.
Gary Stevenson is quite simply one of the most important voices in our society at the current time. We need to listen!!!
True!
With how the new Labour government has been, how long before what Gary is speaking about is branded as “hate speech” or “dangerous for democracy” and you can’t find him on any site anywhere?
I suspect that we'll be talking about his work for quite a while to come.
Wow! When it’s laid out that honestly and simply it makes you realise that there are no politicians who will fix inequality and tackle the real crux of the issue. What an incredible interview
What a lovely lad. He’s laying himself bare. He really cares about society. We need him and more like him, who have clout and will speak out against the social injustices that are growing.
I’ve been following Gary for quite some time, and it is refreshing to hear a refined definition of what we all suspect to be the reasons behind our declining living standards. He is relaying a simple and compelling message to anyone who has the sense to listen, that is, that unless we end the overbearing burden of wealth inequality, our children and grandchildren will continue to experience ever worsening standard of living. However, each time I listen to him I’m filled with despair, because I understand that none of the people who could actually bring about a change in direction are paying any heed to what he presents as the patently obvious. Even Labour, a party born from the desire to create a more equitable society, cannot bring itself to detach from the pervasive scourge of Thatcherite neoliberalism, and stem the flow of wealth from the masses to the engorged few. I will trudge into the polling booths this year in a bid to oust a Tory party in its death spiral, but there will be be not an ounce of hope going into that x against any candidate that can rid us of our Tory MP. The next Labour government will merely better manage the decline that we will continue to endure until the world comes to its senses and listens to the likes of Gary Stevenson and acts upon his sensible and practical suggestions.
Exactly. His message resonates so well because it's the truth we are living.
Very well said and I have to agree with everything you've said.
100% agree except there’s no way I’m debasing myself by voting for Labour and endorsing this duopoly further than I already have.
Mrs Thatcher was never neoliberalist, neither was she a scourge. She believed in peace and freedom, prosperity for those who earn it, family values and a small government . We need her back.
@@stuartbritton4811 she was instrumental in unleashing the hands-off deregulation of the financial sectors, which ultimately led to the banking crash of 2007/8. She is not coming back, due to the fact that she is long dead. We continue to deal with her ongoing legacy of the impoverishment of the middle and working classes, while a select few take an ever larger share of the stagnant and often shrinking national cake.
I've been watching Gary for a few years now. His message is repeated again and again but somethings need repeating. Respect.
I feel like being a kid is thinking that the problems in society are simple. Then you start growing up, and you realize how nuanced everything is. Then you mature, and realize yes life is nuanced but some things are pretty black and white, and multibillionaires and starving children should not exist in the same world. Theres a million ways to lie, there’s only so many ways to tell the truth.
Simply amazing!!
I heard Gary Stevenson before and I love how clearly and openly he speaks. I can imagine it's difficult to confront yourself like that! Much love, Gary!
Wow……who’d have thought an interview on economics could bring such heartfelt insight and empathy for ordinary people. Gary is a modern day knight that doesn’t hide emotion. Fabulous interviewer that encouraged it to flow so well. Bravo
He should stick to selling The Big Issue !
Probably his only experience of actually
running a business...??
Gary is extraordinary. He gets it. Thank you both.
First if all i get a vibe he does this for personal gain, second what is inequality even ? Nobody is entitled to anything, 50% tax is already super criminal what else did you want
@@BambotbWhat 50% tax are you referring to? Top income tax rate in the uk is 45% for £150k and over.
Income taxes don't do much for inequality anyway, it's the accumulated wealth we need to address.
he gets what? I dont see him helping the poor, I see him helping himself by peddling his phoney book onto people poorer than him, some care that. Are people better off financially buying his book or are they now poorer? so he is the largest hypocrite known to man
@@matthewwatt2295 what is inequality even ? how about we apply inequality in school everyone get an A then :D the best student have to give grades to the less privileged students :D also how about passport inequality africa should have same passport power as the UK :D
@@James_36 he is a liar he said in one video he made 11 millions off japan eartquake then in another 6 hahaha clearly an evil pos in it for himself, you can never trust anyone who lies about such things
I could have listened to Gary for another few hours - what an interview, what a guy!!
Agreed!!!
But how would the government fund itself, without making huge cuts, because it shouldn't borrow or inflate ?.
Subscribe to his channel
Glad I decided to watch this, on a par with Bernie's interview. Thank you James and Garry. Will make an effort to watch Gary's channel.
Both of you two gentlemen's true wealth is on display here, honest compassion.
Sending love to you both.
Needs to be a regular on your show, James. These discussions are so critical.
Gary is a voice that needs to be heard! Share far and wide!
It's all lies. You don't give up a job trading.
@@Mark-jb1fj you do if you have a soul 🤷♀️
@@Mark-jb1fjI'm a bit suspicious too
@@Mark-jb1fjwhat exactly is the lie?
@@Mark-jb1fjhe still trades. Not sure why this contradicts what he says
"In this culture we give to young people especially young men but not just young men that tells them "You are the money you make" and if you don't make money you're a failure, and if you make money you're great, and simultaneously gives them virtually no realistic chance of making money, you are kind of training a psychopathy into these guys because you put them in an impossible situation." To me the most profound statement in the interview that Gary has said.
That is both insightful and frightening
I loved these, but for me it was also "if they had won they would stop" when referring to the motivations of the rich... Wow that's so true about the mentality of these people. At that moment I realized that much like Gary was at his lowest, they are mentally ill. I don't mean that in a disparaging way, I think they literally have emotional deficiencies that require treatment... Yet we've idolized them and put them in charge of everything instead. 😮
It isn't culture, it's biology. Women desire status so they pick men with higher status. Money, fame and power are the key status indicators so young men will chase those things. Money is the easiest of the three to get so young men become obsessed with money.
Gary is very intelligent but his understanding of the world is one dimensional. Also, every economist I have ever spoken to is obsessed with distributions.
Don't put people on a pedestal just because they are gifted and say things you like. He is another finance bro collecting a cult following because he is certain he is smarter than everyone else.
@@SurmaSampo "Gary's view of the world is very one dimensional" immediately following "It isn't culture, it's biology", probably one of the most one dimensional views of the world 😂
Make it make sense!
@@DrPhoerrets If it replicates across cultures it is biology dude. It is also backed up by evolutionary psychology. If you think biology is unidimensional you might need to go back to school dude.
Hands down the best interview with Gary I've watched out of many. James conducted a masterclass in how to interview someone to gain maximum insight into who they are. Brilliant job
Watching from Melbourne Australia - Gary's knowledge isn't just relative to the UK.
This interview was worth every second, time well spent
Gary is probably one of the most important people of our age. Everyone needs to listen to what he has to say, particularly those on the left of politics who could be in a position to make change happen.
I just wanted to say. THIS is what Jeremy Corbyn was advocating. Tax the super-rich more to address the wealth inequality. But he got destroyed by the label of anti-semitism and behind that were the media. Would you rather be like the USA or Norway?
Not that O'Brien would ever credit Corbyn.
He got what he wanted when Corbyn was defeated in 2019.
Despite his complaints, the value system of the likes of O'Brien prefers Tory rule rather than anything like democratic socialism.
USA and Norway extract huge amounts of hydrocarbons. It was the left that demanded during Covid that everyone stays at home dependent on government subsidies.
@@michaelrch . I wonder if his views could be changed from his conversations with people like Bernie and Gary? After all, he is the product of his environment...as are we all. Rather than just blaming O'Brien for his opinions, it may be better to explain where his blind spots are, and how changes could be made which would create a better society. Listening to his radio show, it appears that he would welcome a more equitable distribution of wealth, if only to improve the lives of more people.
The most successful societies are those where wealth inequality is the lowest.
@@curmudgeon1933 no, these people never change.
They are big and bold and radical when there is zero chance of any change (like now), yet when the establishment is not entirely safe and there is a risk of it being challenged then they suddenly full fully behind the establishment to destroy the threat.
One of the reasons JC was defeated so badly - even though if only a few thousand people had voted Lab things would have been very different, is that even seeing JC as fundamentally right, there was always something that didn't feel quite right with him, media bashing apart. BJ was the opposite. He knows how to use the media for his profit, and he did. All his mandate was pure propaganda and posturing for self-serving only goals.
Love James, Love Gary. Perfect interview!
You missed me ❤
Need more people like Gary Stevenson and Martin Lewis serving the people rather than big business
Martin Lewis is great but I wouldn’t put them in the same category. Martin teaches how to “survive” the rat race, while Gary has actual world changing solutions.
Great interview - please keep Gary coming back on LBC every time the economy is discussed
Thanks for this! Gary is brilliant..!
Let's hope Gary's views can translate into meaningful change within our political system.
Finally O’Brien talks to Gary Stevenson!! 👏🏾👏🏾👏🏾
Tx for the interview. I come from poverty (US) and now make a modest middle class living, having inherited a small home. I appreciate Gary’s perspective and hope that his point of view will be understood by more and more people.
I’ll never tire of listening to Gary. More please.
There he is, an extremely intelligent young English guy who openly declares how he benefitted massively from his closeness to immigrants. Some idiots won't even have them as neighbors
He also predicted that rising inequality would mean a rise in the Far Right and racism.
@christopherdresser8061 and yet with an aging population, living longer, we literally won't have enough tax payers to be able to pay for retirees pensions or have enough health care workers to look after them without immigration. Where are your figures to prove there's too many people for the amount of jobs available? If that's true, in an aging population, then there's something fundamentally wrong with the economy and it probably has something to do with what Gary's saying about wealth and assets increasingly being concentrated up, in fewer hands, stifling growth
I’m
Sorry to break it to you - but he’s not English. But yeah he’s not brown basically.
@christopherdresser8061over 250,000 adult social care positions available right this second, through out the UK. I’ve been a recruitment manager in 3 sectors and “30 applicants per job” was rarely the case and, when it was, 20+ of those applicants would not be adequately qualified to do the job.
@christopherdresser8061 Did you watch the interview? You'll find the answer to your question there.
I am going to save this interview for when my nephew is a bit older to listen to. Brilliant thanks
So great to see James and Gary in a room together
Nope
Yep.
I am surprised they said they can't think of any MPs who are talking about rising inequality - what about, Corbyn, MacDonald, Yanis Varoufakis?
Yet they are ostracized and villified. They have to be perfect on everything cause everyone around them wants to protect this system tha tbenefits them.
They are proof this system cannot be changed. How much money are the 1% going to pour into convincing everyone else that these people are a danger to world order?
I’d encourage everyone to check out things like the Zeitgeist movement. Ultimately what Gary describes is a somewhat inevitable consequence of Capitalist Market economies
Varoufakis isn't an MP!
Yeah but i take fionaetienne296's point! Why be pedantic?@@hovefactually7505
I have been watching Gary’s channel for a while now and glad you interviewed him. He needs his message to get out there, the wave is coming.
Whats his channel plz
wow gary and james! what a top notch interview!! EVERYONE needs to follow Gary, he has a heart thats in the right place, and has the motivation with help from us all to make REAL change to make it happen!!
Whats more amazing here is the fact that Gary didn't drop the F word - Anyone who watches him knows xD
lol true
That was very refreshing!
He drops them carefully
Every other f King word.. 🤣
I kinda wish Gary wouldn't swear so much on other shows (this one was fine, btw!)
I'm not offended by it (I'm working class and swear lots too, so don't think I'm a pearl-clutcher), but sometimes it's to the point where it's distracting and detracts from his message. A few f-bombs thrown in to emphasise important points is a nice bit of punctuation, but you can't do that when you say it every 3 seconds.
A breath of fresh air. Someone who finally speaks the truth! If only Gary could be the next PM he would get my vote. His solution to make Britain great again by addressing inequality makes absolute common sense. The issue is that govt and wider elites do not want the hard workers of this nation to see or understand it! If we continue down this road no one wins - we must demand better of our politicians.and demand it now.
I do like and admire Gary Stevenson
I bought his book and I’m joining his mission
Possibly the best podcast interview I’ve ever listened to
One of the best interviews gary has done
Really?
Fantastic interview with Gary! He's been doing a great job and more people need to hear more about what he's attempting to highlight
What a powerful & captivating story told with passion - 100% behind Gary’s movement & hope his message breaks through ❤
Kudos to O'Brien guiding this interview so expertly and deepest thanks to the exemplary Stevenson. Bringing him up to anyone who'll listen!
You do not seem selfish one bit Gary. Thank you for speaking out about our societal sickness❤
So glad you got round to interviewing Gary been following him for a while he's the only one really talking about the economy and the serious outcomes from inequality.
Thank you so much for this program. This is something to which I really wouldn't have paid much attention in the past and I've had my eyes opened to certain things.
Smart guy. Made some very salient points that make a lot of sense
Gary is an absolute legend. Love this guy. So glad you finally got him on the show!
In comic books, the people need heroes. In real life, the people need Gary Stevenson.
Clearly even more time is needed to talk to someone as interesting and insightful as Gary, cheers anyway! Great conversation, I can't wait to read the book
Great to see Gary being heard on this platform ☀️
Enlightening genius.
Can't wait to read the book.
Why can't Gary be Chancellor?
What exactly is genius about him?
@@jakefarronmerlin7963 he understands the economy better than 99.9% of people... he is exceptionally intelligent (i.e. a genius).
You speak as if he's some half-assed door jockey for a nightclub.
Genius? Says almost nothing original. Speaks imprecisely. Sounds like he is embellishing his past. I mean, come on.
@alan_davis Unless you’re at a higher level of economic comprehension than you say Gary is at or at least near his supposed level, how can evaluate the veracity of your own statement? What I can say from my observation is that Gary speaks very imprecisely often saying things he doesn’t mean and that’s not typically the mark of a high-level intellectual. I simply don’t believe what he says on economics because of his imprecision and I don’t find his complaining and backstory compelling at all.
Serendipity was mentioned in this interview. I'm ever so glad it appeared on my YT feed. There is simply so much food for thought here.
Wow - that was something quite special! I'll definitely be following Gary's TH-cam channel now.
Oh wow… this is a turn up. I’ve been listening to him since lockdown
When I was homeless, I realised that there was only me that could change. Gary speaks the truth and gives hope in a hopeless world. So happy you interviewed him.
If Government can't borrow or inflate, how does that help the homeless.
When you are homeless, your friends, family and network don't help you. Well, not long term. You can live by blaming others, especially when it's actually their fault. The point is that Garry and James mostly focus on the practical reality rather than the fiction out there. @@JamalBrown-k1x
Wow, you changing made housing cheaper? How did that work then?
I think you have missed the context of my comment and added on according to your viewpoint. I cannot reply to your headvoice@@SimothyInOz
Not at all. Most people have housing issues because of the housing cost..they cannot "change themselves" to make it cheaper@@dauterive
What I love about your Full DIsclosure interviews is that you are writing notes during the interview. Very few interviewers do that, and I think that is an affirmative show of respect towards your guest. Well done James.
I was struck by how very different James is in his questioning when interviewing someone he has an affinity with. No more annoying interruptions, the guest can articulate freely on his thoughts and James sits back and listens. What a difference!!!
Great interview , James O’Brien you one of the best honest journalist out there in Uk respect bro
He really isn't honest.
He defends his liberal capitalist establishment views, come what may.
Two of my favourite theory testers together for an hour. Love it. ❤
This guy is brilliant and this is a great interview. He's so right in so many ways - I would just love to have a pint with the bloke.
Brilliant?
What a fantastic interview! Gary is crushing it, top guy speaking out on the faults of the system.
Awesome! So glad this interview happened. I'm a big fan of Gary's because he talks sense and he has an honest heart. it's great to see him being recognised. That was quite emotional at times.
I don’t even believe a lot of what he is saying.
As a human being. Gary's transparency, honesty and perception of the realities of the environment is brilliance.
This is a really great interview. James O'B asking great questions to get the best out of Gary and his insights and personal story. I've been watching and following both of these guys since covid times and I'm truly delighted to see them both together at last.
This was astounding. Easily the best one yet.
Followed both of these guys and am so pleased they’re sharing a platform. Gary knows the nuts and bolts of why & how we’re being ripped off.. Hope Keir’s lot are listening with a notebook.
Gary criticise and want to “tax the rich”, but he don’t get into specifics how it should be done. The problem is that “taxing the rich” will not solve any problem whatsoever. Even if you get in some more tax in the beginning you will soon run out of rich people to tax and you are back at square one. You NEED rich people to invest.
Really impressive that James has thoroughly read and digested Gary’s book. Demonstrates great respect for his guest.
Gary is the smartest guy ive ever met, but it always his humour and infectious laugh that I always remember. Hes the biggest brain and biggest heart in Britain.... keep it up bro youre smashing it...
Really?
@a.s.2426 yes.
@@omarbeg2959 Okay. Fair enough. You know him personally so that will surely present a different experience. However, from what I see here he is an imprecise thinker, presents nothing original, cites no credible sources and appears to have a suspect backstory. Overall, he seems like a loud talker, who's intent upon sloppily rationalizing his own strongly-held moral conclusions (conclusions which he seemingly reached long before he ever started in economics) using economics as a thinly-veiled cover.
@@a.s.2426 "suspect backstory"? Please elaborate...
@@scootaymildo1070 I know a bit about the subjects he discusses and I find his thinking to be riddled with seemingly unsubstantiated generalities, biases and detail errors. It seems many of his conclusions are not reached as deductions from scientific-grade empirical observations about the economy or society but rather are rationalizations stemming from a chip on his shoulder he has had for a long time. In that context, his backstory -- which paints him as an establishment underdog who despite supposed world-class skill and knowledge (which I don't believe he has, in truth) can't find an outlet for his genius in an academia -- just lacks credibility. Too neat and tidy for me.
Thanks for having Gary on. I'm American and had never heard of him before so I appreciate the introduction. That was weird to hear about LSE and many Brits not knowing about it.. I'm just a regular middle-class guy and I've known since I was much younger that the London School of Economics was basically the British version of something like Wharton Business School over here in terms of it being a ticket to any high paying job in finance / business etc.
1. The Finance Industry is more embedded in American society than in British society. For much of our history, most working class people didn't even have a bank account, until relatively recently. So likewise, investing was something rich people did.
2. Most ordinary British people aren't even aware of the LSE, unless they are exposed to economic ideas. So, many wouldn't even consider it as an option. And Class is still behind a lot of the social inequality here. Middle class kids have the network knowledge that supplies such information. Working class kids are being segregated, and unless Mum and Dad have it, or if they're lucky to get someone who wants to foster their talent, they're ending up stuck at the bottom.
3. I found out about the LSE because my only outlet was education, and I have clung to that most of my life. But being born poor of illiterate parents, and, as I have discovered, neurodivergent, I can honestly say that the Education system in the UK is more akin to The Sorting Hat in Harry Potter now, than an arena to foster individual talents. I had to motivate myself to do that, because opportunity is often implicitly and explicitly rationed. And our culture is schizophrenic. They talk about meritocracy, but for that to work, you need a confident society. And instead, it's crippled by anxiety and insecurity. So, "I'm alright, Jack. Pull up the ladder" is interspersed with destructive, often needless crises of confidence amongst our elites, based on fear and insecurity, who then turn to social darwinism to massage their egos and to destroy the competition. Hence the rationing and fixation on scarcity. (Perhaps Hobbes has been too influential in some ways). The bright kids discarded as a result of this process don't get a chance to shine, so they find it in other means. Many ultimately in unsustainable, unhealthy, and self‐destructive ways.
Gary knows the cards fell right for him. That's why he's a mix of arrogant self assertion and humility. He's been back home to where he grew up, and he's seen the results of people not being allowed to have enough. It's bad. And there's even less opportunity now, than there was before.
@@BigHenFor I'm saving your response. Excellent explanation 👌🏿
You can get into high finance from any decent STEM or economics degree from a top Russell group university , combined with internships
An extraordinary interview. Finally someone speaks up about what we have all known - but couldn't perhaps figure out how to prove it!
TY for having Gary on!
I'm so glad these 2 have met. Gary deserves a lot more recognition for he's insight into the economy. 👏👏👏
Increasingly infurating watching James talking about the 'struggle to communicate' the economic plight of young people. THIS WAS WHAT JEREMY CORBYN WAS FOR. And you smeared him relentlessly.
OMG, so glad this interview happened, one of the best interviews without doubt.
The very best ever interview
Thank you
What a fascinating interview. An hour well spent for sure!
Welcome to the 2024 edition of "Das Kapital". Nothing has changed because the game has not changed.
100%
Yes surely the answer is going back to precapitalist times 😂😂
@@AppearDispairDisappear-xi1gtThe answer is socialism, you can even keep markets and money
@@BongShlong naive. you do realize socialism has been tried a few times, right? you guys need to wake up and read beyond your bubble
and by the way, I am sorry to break some terrible news: the world is not as we would like it to be, or as it "should" be. that's why religions promise heaven and people believe in such superstitions. there is a human drive toward belief in utopia, and socialism is a perfect example of this. socialism replaced christianity in the west. now after 200 years it is easy to see it is just one more myth, not based on truth and reality
Housing should be a human right and systems , education should be built around this , Instead of politics being about the distribution of suffering as it is at this time
Nothing is a 'right', we only have privileges.
Who pays for your human right to housing?
Who pays for the housing? Come on, answer the question.
Excellent interview, thanks, just pre-ordered 😊
Absolutely! “If nobody tells you how do you know?” I always try to enlighten people but I find it so frustrating that there are many who just won’t share. It would make life so much easier.
Now, this is interesting! Finally someone who has the courage to be honest! Thank you.
Gary Stevenson needs to be protected. I was so happy to hear that James O'Brian was finally going to interview him, he should have a regular slot on LBC or something.
Gary is such a fantastic human. I wish there were more of him.