They should have imported more immigrants. That would have boosted the economy.

tory goverment were also interventionist inclusing the other government

Much of the UK production has been moved abroad. Birmingham's mass production has moved to China and Northampton's shoe production also. Consumers won't pay UK production costs if they can avoid it, so they don't. Many household brands produce in their overseas factories, it's why stuff is affordable. If you can't compete do something niche or die. Inflation in China is starting to have an impact.

Please explain this logic to me clearly. Non-doms only pay tax on their UK income. The logic of the video is that this is more than made up for by the investments that they make in productive UK businesses, right? But they're not investing in those businesses out of the goodness of their hearts. Like everyone, they put their money where they expect a good return. So, why are we worried about these people giving up their UK residency? If their UK investments - which are the ones they pay tax on anyway! - are good investments, then they'll hold onto them wherever they live, so the UK economy continues to benefit from that. What am I missing?

no mention of the poor labour relations in the 1970s which did a lot to accelerate the decline of the British-owned car industry.

For an advanced economy you need skilled people to invent, develop and manufacture innovative products. As an engineering graduate in the early 1980's I experienced the consequences of the Tory deskilling of the engineering industry. Watering down engineering degrees to encourage young people onto courses many didn't want to do - better on and engineering degree than down at the job centre and forced to apply for menial jobs because you failed (or perhaps got 1) A level . Any engineer (particularly ones in the bigger companies) will have experienced useless undergraduates and graduates who weren't interested in engineering and knew little. Some of them openly bragging they would never have to pay off their student loan because they would never earn enough. As the video says, this country can't compete on low cost manufacturing. The problem is we can't compete on high value manufacturing either. With the last crop of decent engineers graduating in the 1970's and early 1980' now heading for retirement there are simply not enough clever young people in engineering. That isn't going to change any time soon, if at all. Cheap energy and relaxed planning rules wont change that either.

Absolute utter bollocks. The council went bust for two reasons A a disastrous equal pay judgement that was the largest ever in Europe B the massive cuts from central government whilst paasing on responsibility for many aervices particularly housing

I have learnt so much from this report. Birmingham’s decline is the result of government folly, from 1945 onwards. I can hardly believe the Distribution of Industry Act was passed in 1945.

If she didnt take over we could of been a powerhouse still but we seem to be falling on the economical ladder

Immigration killed Birmingham, place looks like a city shit-hole African/Asian country rather than first world European city.

Anyone not living under rocks ought to know inequality took a different turn in the eighties. I think Adam Smith himself would be quite dissatisfied with modern mainstream economic theory, seeing examples like this. I'm not sure these economists follow the news at all, or read history for that matter. Unions are wrecked and taxes are more regressive than they've ever been. The political climate doesn't show the slightest hint of abating. Inequality will go rampant for another while, and if it ever goes down, it won't be thanks to Kuznets. Fitting a polynomial with an arbitrary grade to an initial trend in data points does not make a good prediction. 'Environmental economists' even expanded this EKC with a cubic term, making the curve turn upward for higher x's, like an N-curve. You can't just invent a partially fitting function like that and pretend it has predictive value. It's retarded. Even if the equation were linear, the way economists present this Kuznetz curve is like workers at ASML dropping all of their tools because Moore's law got it covered. Don't worry, poor developing countries! Just reform and accept our capital investments. The problem of inequality will magically solve itself!

"...Britain's success"... in 18th/19th century, industrialisation in response to "...economic and social conditions..." - a rose-tinted travesty of the truth. As if the average mill & factory-owners cared a hoot for the desperate conditions his workers slaved under or pertained previously. It was only embarrassment & religiously-inspired guilt, coupled with employee "combination" & rage, which mitigated the worst of industrialisation's consequences. And the need for modest employee literacy/basic skills & trainability. An employee having been expensively trained was a wasted asset without improvements in health. Employer benevolence was the exception.. "...High wages..." we are told, a consequence of such benevolence.. No, just a transitional blip from pre- to post-industrial eras, supply/demand transient anomalies. Low regulation in A.S.I.'s preferred regime is about zero-hours contracts, 60+ hour weeks American/Chinese style, declining Health & Safety provision/inspection/paid holidays, a race to the bottom. Only when the NHS is replaced with expensive USA-style health insurance will they be happy. Thatcher's "golden era" was all about a Reaganomic "trickle-down" illusion, now comprehensively debunked with excruciating income-gap widening due to the employee/employer power imbalance the A.S.I. so favours. AT least German capitalists have been prepared to invest long-term, which was the bedrock of their success outstripping us. Now Chinese government direction of investment/industry seems at odds with A.S.I. 's core nostrums

Birmingham has been labour almost forever every mp apart from Sutton Coldfield and Solihull was labour the council is mostly labour that says it all

Typical liberal apologists!!! Birmingham didn’t die because of deindustrialization… it died because you guys let in millions of useless ppl from the uncivilized parts of the world as free labor!!!😂😂😂

13:05 Basically Birmingham wasn't allowed to develop because it wasn't London.

Adam Smith Institute has an "opaque corporate structure" & is coy about its funding sources - Koch Brothers ? US Hedge Fund titans ? The day they level with us is the day we can start taking them seriously

Cheap energy.

Manchester and Leeds adapted, both cities are visually booming! Leeds south bank is the largest redevelopment project in Europe

Economists didn't understand "how bad the banking sector had got" because they subscribe to a neo-classical dogma that ignores money, credit and most of the other crucial elements of the economy. It would be genuinely hilarious if they didn't claim some sort of intellectual superiority (based partly on the mathematizing of processes they haven't properly grasped in the first place).

More of Birmingham has been destroyed by post war developments than the Blitz, like Manchester it once had wonderful 19th century, Victorian architecture.

He also destroyed Coventry too

muslims destroyed birmingham thats it

Have you guys ever read Adam Smith?

Yep but Thatcher helped Wales and North and the Coal Counties.

Unfettered market capitalism gave us the First World War and the Great Depression. The turn to social democracy, Keynesian policies and vibrant trade unionism produced 30 years of prosperity and growing equality. Since 1981, neo-liberal, "trickle-down" economics has reversed all that and even produced another global crash in 2008, yet that mad zombie ideology lives on. And even does so in the minds of people who think they are "realists".

the 1947 Town and Country Planning Act removed the incentive for local councils to permit building infrastructure. The country is run by Oxbridge graduates who pay no price for being wrong. HR is the only growth profession in the UK due to one set of Oxbridge grads bringing in thousands of regulations in relation to employment. Now Isobel an Oxbridge arts graduate gets paid 250k a year to ensure companies have the right quota of sexual preferences and colours employed.

Didn't only destroy Birmingham he destroyed Britain.

Attlee was a labour politician so of course he destroyed Birmingham, the labour party destroys everything it touches

Their saying (Labour) " the man from the ministry knows best" sums up socialist attitudes.

An interesting insight into my home town. However, I must correct you on something;- "Birmingham has more canals than Venice". In the early 80's, when the city hit rock bottom and looked like a right dump, a group of staff at the city's economic development unit brainstormed ideas to change people's perceptions of the city and came up with some things which became urban myths; the one about canals being one, "Birmingham has more acres of parkland than any other city in Europe" and "Birmingham has more trees than Paris" being two more. They deliberately dropped these into casual conversations with people like journalists and elected council members and soon they had spread like wildfire across the city and beyond. They are eminently believable because Birmingham does have a lot of canals, parks and trees. They were picked up and repeated by Brummies desperate to see something positive in their decaying city. I was one of them. This was told to the BBC journalist and radio presented, Ed Doolan in a radio interview with someone who worked at the EDU.

when you put socialist into power such as Stammer , you can only get a disaster.

No idea why I'm getting recommended videos by these opaquely funded, neolibs dipshits

“One of the main reasons are ….” 🤦‍♀️

Emphasis on invested in now we only invest in self destruction.

Britain wrecked itself fighting wars it couldn’t afford in the first half of the 20th Century America is doing the same thing this century Col Macgregor Ret

More like 1914-19 and lack of investment in British Manufacturing Blame Radical Liberal Economics and War Mongers like Churchill People should study 1914-19 far more closely

More like 1914-19 and lack of investment in British Manufacturing Blame Radical Liberal Economics and War Mongers like Churchill People should study 1914-19 far more closely

No way we now have Adam Smith Institute videos on KZbin. Of all the organisations that can be blamed for the real suffering of ordinary people in modern Britain since the 1980s, there are no group of more coniving, self-serving, backstabbing misanthropic scumbags than you lot. Shame on you, everything you stand for was invalidated by the amateurish mess that was Liz Truss, the social murder that was austerity YOU encouraged, the selling off national assets that has left our nation beholden and pillaged by multinational corporations. Adam Smith would have loathed your delusional edgy university student politics, you elitist consultant class pigs.

Racist tears so yummy

Why invite people from commonwealth countries to do the crappy jobs and then close down all the factories. What did the governments think would happen, apart from racism and a blame culture

🇬🇧 👍🏽 November 2024 What a fantastic essay!

Another video from the open borders ASI flailing around now it's clear what an utter failure neoliberalism has been. Only liars and crackpot ideologues could blame a post war consensus that was abandoned 45 years ago. Flail all you want boys, the world is changing and moving on. By the way, who funds your organisation? What have you got to hide?

Mercia was more productive than Wessex, thats what was up.

'Focus on quality instead of quantity by Chinese '' underestimating your competitor is the first recipe for disaster. Today's China has near quality parity in many products in some it's ahead while lagging just behind in a few.

Omg, grinding my teeth to paste. You are definitely right in the matter of government suppressing the organic movement within the country of capital and labour. There is nothing useful I can add except the observation of a sympathetic outsider that heartened me on my only visit to your islands, May/June 2016: a sense of stifled potential within the people generally, and that potential is considerable in breadth and depth. May our countries re-establish the barriers that check and deny an overbearing onerous and deceitful bureaucracy.

Absolutely tragic. A world leader in innovation and industry reduced to impoverishment.

This is what happens when cucked soc dems try to manage the economy rather than the workers who create the economy.

We need to concentrate on high quality high skilled manufacturing but the government has allowed mass low quality and unskilled labour, this is not going to end well is it.

Most of the wealth of millionaires in the UK is not allocated to productive investments in the UK. Instead it's tied up in housing and foreign (US) stocks. If you don't believe me, ask daddy to show you his portfolio when you're home from Eton for the hols

Stalin would be proud of the U.K. State interference