Ann Pettifor for Age of Economics - Full interview

Age of Economics: in the first part of this project a diverse group of global thinkers answers 8 fundamental questions about economics and capitalist civilization. (Interview number 22)
0:00 - Prologue
01:11 - Intro
01:30 - 1. Why does economics matter?
03:28 - 2. What are the differences between economic science and economic engineering?
05:40 - 3. What role does economics play in society? Does it serve the common good?
10:07 - 4. Economics provides answers to problems related to markets, efficiency, profits, consumption and economic growth. Does economics do a good job in addressing the other issues people care about: climate change and the wider environment, the role of technology in society, issues of race and class, pandemics, etc.?
13:30 - 5. As we live in an age of economics and economists - in which economic developments feature prominently in our lives and economists have major influence over a wide range of policy and people - should economists be held accountable for their advice?
16:46 - 6. Does economics explain Capitalism? How would you define Capitalism?
21:46 - 7. No human system to date has so far been able to endure indefinitely - not ancient Egypt or Rome, not Feudal China or Europe, not the USSR. What about global Capitalism: can it survive in its current form?
27:26 - 8. Is Capitalism, or whatever we should call the current system, the best one to serve the needs of humanity, or can we imagine another one?
About Ann Pettifor
South African-British. Economist, adviser, author. Director of Policy Research in Macroeconomics (PRIME)
She has published several books. Her work focuses on the global financial system, sovereign debt restructuring, international finance and sustainable development. Pettifor is best known for correctly predicting the financial crisis of 2007-08. She was one of the leaders of the Jubilee 2000 debt cancellation campaign. She is the director of Policy Research In Macroeconomics (PRIME) a network of economists researching Keynesian monetary theory and policies, an honorary research fellow at the Political Economy Research Centre at City, University of London (CITYPERC), Chair of the Political Economy Research Centre’s Advisory Board at Goldsmiths, a fellow of the New Economics Foundation, a director of Advocacy International and a trustee of the PREP Foundation for pluralist economics. Pettifor is a member of the Green New Deal Group of economists, environmentalists and entrepreneurs.
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Interview by Fabio Dondero and Julian Karaguesian
Music: J.S. Bach, from The Well-Tempered Clavier. Kimiko Ishizaka, piano. Video by Fabio Dondero

[@billsykes5392]

26:50 “Unless it changes its spots very dramatically now, we will move into an era…of fascism”. A few years ago I would say this is alarmist. But now as the boundaries between capitalism and democracy, between markets and our civic lives have blurred to such an extent that neither is sustainable, we face a time-critical, historic juncture between fascism and reform.

[@vsotofrances]

The current economic system is a power/exploitation system. There is no solution within it. We are doomed. Economy does not provide a sustainable framework for human's relatioships and enviroment. Good luck.

[@gcdhvf4896]

Interest based economies will disappear as promised by Allah swt, despite the logic and degrees. Charity based economies will always survive! If the wealth is not redistributed amongst services and the needy... Well, those systems are collapsing in the West as I type! It is a lack of accountability of the beaurocrats who run countries like a garrison prison, in the West while maintaining their own 1% associates circle, who are practising greed/war based businesses /corrupt banking /ponsi finance services, who have destroyed Western economies... Which is Very Just!

[@GhostOnTheHalfShell]

There are alternatives to interest and inflation bound money systems. Friegeld proposed by Gesell is one of them. You can read “interest and inflation free money” by Kennedy online if you search thru google results a little. Lending isn’t forbidden here by the nature of that money system keeps it very low.