Do Rich People CAUSE Populism? Interview with Mark Blyth | The Mindful Wealth Podcast

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We have the honor today of having Mark Blyth with us: economist, professor at Brown University, who writes the book “Angrynomics”. Mark has always been interested in the economy and economics, so it means that today we talk about economic things, that are going on in the world today.
If you know Mark Blyth, you know that he often said that capitalism has its own 3 versions, each of which has bugs that bring it down, in this episode Mark breaks those three out and talks about this in a nutshell.
We talked about rich and poor mindset, outlined patrimonialism, myths of the stocks market, money, and economics, technological and cultural parts of economics.
The question mostly is - Do rich people cause populism? Heritage used to win over hard work and motivation. What's changed now, in the world of opportunities.
0:00 - Intro
1:05 - Mark Blyth
3:29 - 3 Versions of Capitalism
9:11 - Disconnect between Local Democracies and Global Capital
18:36 - Space of MMT
23:34 - Inflation
26:00 - Role of the Media
28:51 - True Wealth
35:44 - Class-Based Analysis
41:48 - Pursuing Wealth in Environment
44:56 - To Audience
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Опубликовано:

25 июл 2024

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Комментарии : 80

@sbfcapnj Год назад

Blyth is a national treasure. The ultra-rare combination of extreme intelligence, incredible wisdom and unimpeachable humbleness. You deprive yourself if you don't listen to this man.

@direwolf6234 2 года назад

damn blyth has such a way of explaining our financial world that is simple and down to earth it's too bad more politicians don;t take his approach to heart .. and yes once you've got $10 million what drives you to accumulate more & more .. and we all know the devastation of uncertainty in life ... great interview..

@daveangle 2 года назад

Pay attention to mic levels

@TheMindfulWealthPodcast 2 года назад

thank you :)

@scriptguru4669 2 года назад

@@TheMindfulWealthPodcast yeah bit of a disaster.

@dramdavies 2 года назад

I really want an episode where you play the bass and talk about the ones you have

@BoomerLover420 2 года назад

Mark really is an intuitive genius man. If the stages of capitalism are software then he has shown himself to be the expert white hat hacker trying to expose and fix the faults in the software.

@salzen6283 2 года назад

One wish only that the people who run the economic policies just think like Mark Blyth even if they screw up! Mother Consciences please enlighten me🙏

@Jimmy2times90 2 года назад

Loved the true wealth segment of this conversation, millenials can relate a lot to this.

@sbfcapnj Год назад

The nanosecond that I know that I can put food on the table *without having to borrow*, I am probably going to cry. Seriously.

@HairSuitGentleman 2 года назад

Please for the love of god turn down Terri’s mic! You all have interesting things to say so please balance your levels in post so we can hear them without sustaining industrial deafness.

@TheMindfulWealthPodcast 2 года назад

We're trying :) Thanks

@jbyrd655 2 года назад

Somebody needs to organize a 'conversation' with Blyth and Varoufakis...

@torstenjacobsen2252 2 года назад

Here you go - sort of..: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-iMk6aVsl8Rs.html

@TheMindfulWealthPodcast 2 года назад

I messaged Varoufakis- he's too busy :/ maybe I should ask Mark to contact him

@Oners82 2 года назад

You need to equalize your mics. I turned up the volume to hear Mark then nearly got deafened by Terrie!

@SequenceBioEnergy 2 года назад

Mark, always insightful….

@peterkratoska3681 2 года назад

Nature Bats Last - is from Paul Erhlich (who wrote the Population Bomb)

@peterkratoska3681 2 года назад

@Accelerationist sure, except the Nature Bats last part.

@autohmae 2 года назад

@Accelerationist if you think we would have the same problems with climate change if we have less people on earth then you would be mistaken. You might want to look at a graph of population growth and think about how that impacts climate change.

@john-lenin 2 года назад

Guess what? You can't have in increase in Standard of Living without Inflation. THAT'S WHAT AN INCREASE IN THE STANDARD OF LIVING MEANS. The key is that wages have to rise more.

@jamesbelcher9588 2 года назад

1) Thanks for the timestamps! 2) No need to squander a citizens' wealth fund on paying student debt when an executive order could cancel it.

@wikingagresor 2 года назад

Think this thru: should taxpayers who often can't send their children to college foot the bill for other people ?

@jamesbelcher9588 2 года назад

@@wikingagresor How would they be paying for debt that has been cancelled?

@wikingagresor 2 года назад

@@jamesbelcher9588 you are telling private companies that made those loans to students, that they have to lose their income, or are you proposing that taxpayers will be footing the bill ? There is no other way...

@jamesbelcher9588 2 года назад

@@wikingagresor The DOE owns over 90% of student debt. It was spent into existence, much like the military budget. Canceling student debt is the easiest win imaginable. If the main argument against debt cancellation is "What about the 10% of student debt owned by private lenders?", I think cancellation wins.

@zvxcvxcz 2 года назад

@@jamesbelcher9588 Cancelling that 90% owned by the DOE then is identical to the government paying it, i.e. adding it to the national debt instead. Many would read that as the taxpayers footing the bill, though I'm not sure whether it would be discretionary or non-discretionary spending or if that debt would ever be paid out. Personally I think I do lean toward cancelling it (despite having no debt myself), but I think you should understand that even "cancelled" debt doesn't just evaporate into thin air. For wikingagresor, taxpayers are pretty much definitionally above the poverty line, so they aren't in the worst position to shoulder that cost as many among them may have been the beneficiaries of such loans. I suspect that what is bothering you are cases where those that are relatively privileged took loans that they perhaps didn't need to? It certainly can bother me as well, but lets not let them ruin a good thing.

@t.michaelbodine4341 2 года назад

People like Mark Blyth and Ha-Joon Chang need to run the US economy, not hustlers like Larry Summers.

@john-lenin 2 года назад

There's only one type of wealth: Social Wealth. Meaning Society (which is us) makes sure no one is abandoned

@joaopedrosousa5636 2 года назад

45:01 Nature what last?

@Oners82 2 года назад

Nature bats last, as in nature will win in the end.

@igypop. 2 года назад

9:15 BOOOM!! like he dropped a f...ing bomb!

@TheMindfulWealthPodcast 2 года назад

Boom lol !

@TheMindfulWealthPodcast 2 года назад

Yeah ;) definitely a colorful guest

@igypop. 2 года назад

@@TheMindfulWealthPodcast where he's from it is colourful..

@fyngolnoldor4891 2 года назад

Very interesting episode, but please, for the love of God, equalize your sound, I either have to get my ears destroyed by the hosts or miss most of what Mark is saying.

@frummox 2 года назад

Please balance out the volume of each speaker.

@plnmech 2 года назад

All of this makes sense so why arr the decision makers listening and acting?

@TheMindfulWealthPodcast 2 года назад

It takes time for these ideas to make it into policy.. that's what we're trying to do with this channel. Have a larger discussion about these ideas so things begin to change !

@benjaminselassie 2 года назад

@@TheMindfulWealthPodcast These ideas aren't really new. All of Capitalism was designed to lean into the curve of human desire to be greedy. I think there is just a percentage of humanity that believes in self centered consumption over anything else. It is a psychological delusion that has become ideologically inseparable from a religion. We're a Neo Roman style Feudal Enterprise that never truly severed it's addiction to slave labor.

@Taporeee 2 года назад

24:56 houses

@lensmanicfeleven1847 8 месяцев назад

You should have better balanced the audio on this....as is, it is very difficult to listen to with Marks voice so faint....

@MarcMcElroy 2 года назад

Learn how to mix your audio, please.

@danjunk3029 2 года назад

interview Guy Standing

@TheMindfulWealthPodcast 2 года назад

Just messaged him... we'll see what he says :) you can always troll him and tell him to come on the show! Great tip btw... keep sending guest requests and I'll keep harassing them till they come on the show

@TheMindfulWealthPodcast 2 года назад

So…. ****drum roll*** we got him… interview is happening next week. Got any questions you want us to ask ???

@danjunk3029 2 года назад

wow. excellent. I would love to hear updates on the struggle for basic income in different countries, what the setbacks have been, what he's optimistic about. How has the populism of the left and right affected basic income. I would love to hear how the struggle against the 'eight giants' is progressing. I would love to ask if he thinks a post war Ukraine might be a good or bad place for a trial of a basic income. I would love to ask how he thinks fuel prices and inflation effects the precariat and what he thinks of the record low unemployment, its cost and whether it is a meaningful number, or just the splitting of enterprise jobs into precariat tasks. what does he think of global depopulation and china's falling birth rate? what does it mean for the precariat, inequality? will it lead to rising wages or automation? Im very interested in basic income on a city level, I know Andrew Yang ran for NY mayor. Im from Portland OR, which has no sales tax, but 3 oregon cities have a sales tax. I think Portland could pass a sales tax to fund a basic income. What is his take on sales tax or VAT funded basic income, and what does he think of cities taking the initiative, is it viable, is it even a good idea. what about sovereign wealth funds and endowments. I'll try to think of more but he never disappoints

@TheMindfulWealthPodcast 2 года назад

@@danjunk3029 Wow ! That's a lot :) I'm writing interview questions this weekend will try to work some of that in :)

@dynamitecity9667 2 года назад

Forget who it was that said once you earn $65,000 per-year more money doesn’t have an effect on your actual happiness.

@zvxcvxcz 2 года назад

I wouldn't quote the exact number, as it will need inflation adjustment over time. I don't know who said it, but that effect can definitely be seen in surveys on happiness.

@EdwardPike 2 года назад

Spoiler alert: yes

@TheMindfulWealthPodcast 2 года назад

lol...

@tracyleighbasham 2 года назад

Eh. Wealth inequality does for sure. True populists don't hate the wealthy per se, they hate the system the wealthy actively seem to perpetuate.

@EdwardPike 2 года назад

@@tracyleighbasham I think I agree. If you mean that some rich people use their money to build tangible assets that are good for the world versus using it to force people into debt and collecting rents (i.e. *financial* capitalism), or building vanity luxury projects. For example, so far Elon Musk has used his money to useful things while Bezos is turning to the dark path and building a mega yacht and a flying penis. We can surely figure out how to level a luxury tax on yachts and mansions.

@julianshepherd2038 2 года назад

Bottom of the Dundee working class was the bottom of the British working class. They did jute and then nylon smashed the place.

@john-lenin 2 года назад

It's not "politics" - it's Conservative propaganda

@alloomis1635 2 года назад

economics is what you study when politics is too scary. no ethical person would participate in usa politics, and revolutioning is dangerous and usually ill-paid as well. so you talk about the machinery of society, and leave motive power in the hands of sociopaths and idiots. and the occasional 'hero' like assange, manning and snowden.' somewhat like the 'schoolmen' of medieval times, although more useful than 'angels dancing on pinheads.' sometimes. yet there are economists who prospered by simply saying, 'get out of the way of the market.' you tell rich people what they want to hear, and you prosper. the vital questions of our times are population and environment, and they are not addressed by current elite-driven societies. if we don't get democracy, the zuckerbergs will kill us all.