Economist breaks down Labour's first six months in power

[@michaelrch]

"Change" meant anything but. More austerity. More neoliberalism. More craven subservience to capitalists. This is not a party of "Labour" anymore. The billionaires have got their way. 2 options. No choice.

[@knabberpause2280]

It's a real shame to see. I am a supporter of labour and a member but I'm afraid they've lost so much public support already for making themselves easy targets for the right wing press and the likes of reform, but also for not going far enough. I think honestly a wealth tax would be a major vote winner. Any rightwing MP opposing it can instantly be branded by labour as an enemy of working people and it could easily work on their favour. They will struggle to govern well in the future if they make themselves hated. They need to go further and unfortunately maybe they have to repeal their two highlight unpopular policies: winter fuel and IHT. Sadly the media just arent ready to hear it but a wealth tax and nationalising industry is just needed now

[@mrnice7570]

​@knabberpause2280labour have destroyed the economy and their party in 6 months, despised nationally now by all indigenous Brits

[@michaelrch]

@ they aren't not doing these policies because they are scared of the press. They aren't doing them because they are ideologically opposed to them. They are a party of the rich now. The guys calling the shots are the Labour Together clique that got Starmer elected as leader by lying through his teeth to the membership. Morgan McSweeney and Pat McFadden run the party and they are more right wing than even Blair was. They take more money from billionaires than they do from unions. These are the results. Oh and to boot, all the senior team are political lightweights with no fixed opinions or vision they are fighting for. That's why they are the perfect vessels for their puppet masters. BTW if you want to see just what a PoS Starmer is, look for the video with Matt Kennard discussing his past with Lowkey. It's really eye opening.

[@firstlast-tf3fq]

Did you read the budget? It’s not austerity you muppet.

[@michaelrch]

@ yes of course I know what's in the budget, and yes, it's continues the same austerity framework as before. There is theoretically more fiscal headroom but it's nowhere hear enough to repair the damage done by the Tories. Reeves is still demanding cuts in all unprotected departments.

[@SirFragula]

The problem is the oligarch owned media doing everything it can to manufacture a sense of malaise.

[@alanrogers9597]

Agreed, MSM manipulating every potential negative, Labour's inability to spin the positives. Shit storm of misinformation, deformation and lies.

[@pjmlfc05]

The overall problem is the current government.

[@SirFragula]

@pjmlfc05 The best government we've had since 2010?

[@pjmlfc05]

@SirFragula not with Kier at the helm. The worst Labour party ever.

[@SirFragula]

@@pjmlfc05 Kier, the best PM we've had since Blair?

[@satyasyasatyasya5746]

*there are no capitalist solutions to capitalist problems.*

[@evolassunglasses4673]

We don't have capitalism. We have oligarchy. Braking the oligarchy is the solution not replacing oligarchy with a total State economy.

[@evolassunglasses4673]

Unfortunately the Left have embraced open borders Globalisation project and have no solutions.

[@satyasyasatyasya5746]

@@evolassunglasses4673 capitalism IS an oligarchy by its very definition. And this "state economies" line is muddled at best. I suggest you do some reading. The distinction you're trying to make doesn't exist and the alternative to which you allude isn't whats being suggested by anyone.

[@satyasyasatyasya5746]

@@evolassunglasses4673 cute dog whistles, but no. i see who/what you are and me thinks replying further would be pointless.

[@satyasyasatyasya5746]

@@Dominatrix97 i know right, that totally perfect leftist party that super duper exists should have got his vote... oh wait... there isn't one. Do you honestly think you can hurl some implication of hypocrisy or inconsistency at him? In this day and age? Under this system? We do what we can within the limits set by the powers that be and then do other things to change that. Vote scolding is cringe, and a stupid persons idea of something intelligent to say.

[@clivebroadhead4381]

A perfect example of the highly centralised uk economy wasting resources is illustrated by the private train owning companies (ROSCO'S) scrapping perfectly useable electrical multiple units in the South while at the same time the state owned Northern train company is buying expensive bi-modes, precisely because the Treasury is refusing to fund electrification of the infrastructure of the North.

[@longandshort6639]

@@clivebroadhead4381 shows how Governments are absolutely hopeless at efficient economic allocation. Socialism always fails.

[@Ludus57]

The Treasury is the problem. It does not serve the country.

[@drew-km6pu]

Politicians can be problem-solvers just like anyone else. We just need a system that holds them accountable for not solving problems. In this example its a dictator making them accountable. In a democracy, it should be the media... Oh wait, i see where we've gone wrong now..

[@RichPober]

We have seen what happens when the UK regions have power. We have multiple UK county councils who have gone bankrupt. What is the difference between the UK and China then? China selected its top 40 people from 20 million candidates and then sent them to manage their regions. The UK county councils rely on local councillors, of vary capabilities and competencies, to decide on what ultimately turn out to be disastorous money-losing initiatives that leave the counties bankrupt. The UK would need to change its model of how it finds and attracts the most capable people to run its county councils and regions. China's model is not perfect, because corruption and bad incentives have encouraged equally disastorous money-losing initiatives across the whole of China.

[@endermasa9451]

Empower the regions! Devolve Yorkshire! Give our one county of over 5 million people the powers to decide our fate, let us build our own infrastructure and save our dialect! South Yorkshire is NOT a region, it is a construction of the last 50 years. The ridings of Yorkshire are a millennia old and we are ONE region

[@rogerc7960]

Manufacturing output is down, bonds are up.

[@tomlangford1999]

Does this guy think Oli's name is Joe?

[@JesusAteMyWaffles]

It isn’t?

[@TheShortStory]

Painful to watch. But getting old is hard.

[@chrise-b9942]

I wish he'd corrected him straight away, but he wasn't to know how much he'd say 'Joe'...

[@jameswilliams7026]

Old fool

[@MrCalls1]

Hahahahahahahahaha, I watched the whole thing on release, and I literally didn’t even notice. I think my brain skipped abit like a record when he said it, but I couldn’t figure out why.

[@mrmeldrew693]

If I falsified my CV, I'd get the sack. He Chancellor of the Exchequer should be appropriately qualified. Rach from accounts clearly isn't.

[@BOZ_11]

"If I falsified my CV, I'd get the sack." -- Not for your job, but we're talking Chancellor, so she needs the sack. However, sacking her and hiring another fu*kwit goes nowhere. We'd need someone like Michael Hudson or Steve Keen

[@stevenwilliamson6236]

A sensible employer wouldn't employ you in the first place. Has she falsified her CV?

[@BOZ_11]

@@stevenwilliamson6236 she's unqualified, regardless. She is not an economist, never run a business, never been a treasurer. She's a branch clerk, hoisted into Govt by 'Labour Friends of Isnotreal'.

[@stevenwilliamson6236]

@@mrmeldrew693 en.m.wikipedia.org/wiki/Jeremy_Hunt

[@stevenwilliamson6236]

@mrmeldrew693 the criterion is being appointed to the role. Sunak was Chancellor although he had previously been a hedge fund conman. Norman Lamont couldn't pronounce his own name. Denis Healy had a degree in classics . John Major had no degree at all. No-one in the past 40 years has done the job correctly, which is to make every citizen better off than when they started, except, possibly, Gordon Brown. If you are a turd on the Internet and talk cretinous shit people will point it out. Has she falsified her CV and in what way and what is your source? FFS.

[@DrDanWeaver]

Excellent analysis. Thanks.

[@hopkinstribe3469]

You tell them JOE 😂😂😂😂 FairPlay to Ollie for not correcting him

[@jamie1944]

The problem is you need experienced people to run these independent places not Councillors elected who most of have no knowledge how to manage finances.

[@thelastemperor3704]

And you need to have people in these positions who genuinely want to improve the lives of their fellow citizens. Our politics seems to be getting more corrupt and greedy by the year unfortunately. The portrayal of what was achieved in China seems very simplified. From what Ive read about the Chinese regions is that they have been mired in corruption for years, so even in a country where the death penalty is still routinely enforced, the human instinct of self enrichment still pervades.

[@michaelrch]

@PoliticsJoe please get Richard J Murphy next.

[@simoncook8455]

This is a flawed argument, giving local authorities more power would be a disaster. Having a mayor for each town and village however with a relevant budget would make sense.

[@sichambers9011]

All the signs were Labour were going to do almost nothing to change orthodoxy.

[@Serpsss]

Starmer is a typical lawyer. Morality exists only as a tool to use as both a sword & shield in the pursuit of personal power & profit.

[@thebard20]

I wouldn't rate his analytical skills if he couldn't have foreseen that they would be more of the same, when every policy announcement from labour stated that would be the case

[@DavidPreece-we6xi]

Good for you Paul Collier keep on telling them.

[@BOZ_11]

What to do as king of a whole province for 5 years? To double GDP and halve infant mortality?? Easy: 1. Build out a road and rail network 2. Electrify the place 3. Build your telecoms out, using in part the infrastructure laid when electrifying (partly sharing infrastructure). 4. Set up a two prong healthcare system of super hospitals, supported by a ring of smaller healthcare nodes 10-15 miles away from the super hospital(s) (and at least 10 miles from the nearest health facility). 5. A state provincial bank offering interest free loans, collateral being company equity (never more than 15% of equity can be put on the line). This collateral is not based on the value of the company, it's there to introduce consequences for the owner. The owner can buy the equity back 5 years after incurring the penalty (they gave their equity up for non loan repayment)

[@firstlast-tf3fq]

“There’s too much power in the hands of the people who know what they’re doing, we need to take that power away and give it to far less qualified people who only care about being reelected” Also, the comparison with 20th century china is crap. It’s a lot easier to take a piss poor country and make it significantly less poor. It’s a whole different ball game to take a rich country and make it significantly richer. Let’s not also forget we care about civil liberties and human rights here.

[@Pastaface]

Well said. We have nasty collaboration between big capital and big gov. cooking up regulations to discourage proper free-market activity and hamper civil liberty.

[@trojon]

Taking a country in deep famine and poor education to arguably the first or fighting for first place in economic and military strength globally is not that easy. I guess you've not studied economics or understand the macro/micro of the position - but there are literally thousands of experts that have and these comments are common conclusions

[@firstlast-tf3fq]

@ they’re fighting for first in neither military strength or economic output. Especially if you consider GDP per capita.

[@DaveElliott_ATOMEKA]

People in the comments pointing out the differences between the UK and China as to why this can't be done in the UK and totally missing the point that we can learn from China's example to do something similar, if not exactly the same. Unfortunately, change would be hard because of Starmer's allegiance to the US corporate teet.

[@jameslockwood1958]

The problem with devolving power to the regions lies in the fact that local councils are entirely captured by the largest supranational entity of them all. Certainly a contradiction.

[@wolfinstedd]

Is UK economic going be just like Japan no real growth or contraption with next few decades.

[@evolassunglasses4673]

At least they investigated technology and robotics.

[@jameshutton3960]

Brexit for you.

[@alexanderstefanov6474]

Japan at least has a functioning healthcare system and fantastic infrastructure

[@JSmith19858]

@@alexanderstefanov6474 and national debt that's 260% of GDP, plus that fantastic healthcare system is creaking as more people retire

[@danunpronounceable8559]

​@@JSmith19858 have you been to japan? I have, twice. They are in a much better position than we are.

[@Chida_o_0]

This does not talk about the first six months of labour. It talks about how China managed to grow in the 80s.

[@raghar88]

Labour: we are devolving powers and creating more mayors. Economist: Labor are shit for not devolving powers and creating more mayors. 😵‍💫

[@DaveP668]

Devolving powers is not devolution if Treasury still control spending and taxation. Let local areas set Council Tax and Business Rate levels and introduce local taxes on all spending rather than the current VAT system.

[@Hardspace1979]

@@DaveP668and more importantly, let them keep the receipts and reinvest as they see fit

[@fenderek666]

There is no devolution going on. Just words, no actions.

[@mike-williams]

There's a lot of magical thinking in Collier's exposition. It requires the magical dissolution of legislative frameworks as if the UK were a China-style autocracy that not only nationalise funding but labour, and require people to move at the will of central agencies and have their standard of living go backwards for a decade until benefits start to emerge. The UK is not currently an impoverished society to anywhere near the degree that China was. The Chinese had nothing to lose. British people will grumble and blame everyone else. The reality is that with Brexit and austerity and other Tory measures, the economy was car-crashed repeatedly. You don't get up and start walking again in a hurry. The entire body has to be retrained - the brain may be willing, but a ruined body that has chosen to cut itself off from its family (Europe) is largely on its own.

[@KamalSingh-wc4pw]

Would be great if we could hear from this guy on a regular basis

[@acolyte10mg]

Am I tripping? I thought labour are already in favour of devolution? It doesnt take 5 minutes to sort out.

[@nathanaelsmith3553]

Broxtowe

[@fenderek666]

They say they are They aren't really

[@acolyte10mg]

@@fenderek666 source?

[@paulmonkcom]

Economic growth is history for many developed countries. It is the developing countries like India and Africa where there will be economic growth. The UK is now a service based economy. What is the obsession with growth anyway? With a revised voting system, good policies and laws and a government that cares about the people, most of the UK's problems could be ironed out fairly quickly, the only trouble now is Trumps trade war which is highly likely to result in a world economic crash. Hold on tightly to your assets folks!

[@TheLoneWanderererr]

I always ask the question what amount of growth is enough? The modern world goes off the assumption that progress is endless and upwards.

[@Lifelongloser]

What good policy would solve the housing crisis?

[@paulmonkcom]

​@@Lifelongloser Separate land value from the cost of a home. Boost not-for profit and low debt homes. Focus on an affordable and more secure private rental sector. Full term fixed rate mortgages. Stop the government paying interest to commercial banks with the economy's money, this would save around £20billion, enough to build new low cost modular housing. Utilise the 700,000 empty properties in the UK where possible. Take account of the amount of empty government buildings and repurpose this for housing where possible.

[@paulmonkcom]

​@@Lifelongloser Separate the land cost from the the cost of a home. Boost not-for profit and low debt housing. Ensure an affordable and more secure private rental sector. Set up a more diverse banking system, stop the government paying interest to commercial banks with the economy's money, around £20billion a year could be saved and spent on affordable modular housing. Introduce full term fixed rate mortgages. Make use of the 700,000 empty properties in the UK where possible. Assess and budget for empty government buildings to be repurposed for housing where possible.

[@Bingosaurus]

Growth is viewed as essential because otherwise there would need to be a real discussion about redistribution, and that is one that those that are tied to neoliberal orthodoxy cannot even consider entertaining.

[@seawavechau]

China is a state-controlled socialist economy while the UK is not. maybe a referendum can help.

[@TheSupersomerset]

Nice story, completely detached from reality when suggesting it could be replicated in the UK. For a start party politics would be the first problem (Labour central government vs Lib Dem or Conservative Metro mayors or regional assemblies).

[@Bingosaurus]

How is that different to now with councils? It would actually reduce the power of party politics, because you would be holding those leaders accountable for metrics rather than feelings, and you would be able to demonstrate the policies that work rather than have people dependent on an ideology.

[@TheSupersomerset]

@ in theory you’re correct but I fear the temptation to set regions or mayors from different parties for failure would be too great to resist - just look at how central government already undermines councils that are not controlled by the same party that is in govt. For this to work it would require a. the brightest talent (expensive and therefore politically tricky) and b. A strategic approach with a view to the long term - not conducive to a system based on electoral cycles. There is a reason why the example cited in the video came from China.

[@LesHancock-lu6tb]

He missed out the biggest driver of chinas growth the joint venture system. Where the expertise and 50% of the capital came from the western company and the Chinese half borrowed 50%from the world bank. Britain cannot adoped that system.

[@PeterHooper-y1t]

That's not true though

[@gos4343]

How did someone this intelligent and that believed in this kind of radicalism, vote for a party with the someone as dishonest, anti-democratic and authoritarian as Starmer at the head of it ? Utterly baffling.

[@melontusk9660]

Is Labour front loading the bad news so we can have a better economy come next general election? I think people wanted a magic solution of lower taxes and lower inflation with increased government spending and reduced government borrowing.

[@gcaesar-e4s]

That's what I wondered to begin with but it increasingly looks like incompetence and lack of a clear focus other than tax the life out of everyone except the super rich.

[@conah9440]

No. You're making excuses for Labour. In any case i think Collier is right, Labour aren't even making the decisions, the treasury is. The Chancellor views Treasury leaders as her boss, not you or i.

[@scallamander4899]

Labour cares more about their corporate masters than winning elections. Look at how they sabotaged the movement around Jeremy - it happened from within!

[@donkeychan491]

The UK is a basket case: a chronically inefficient and bloated public sector, high taxes, high inflation, high interest rates, high public debt. A slow managed decline is what they're aiming for.

[@garyb455]

you will never get lower taxes under Labour

[@GamertrolldotUk]

Who knew "Fiscal responsibility" was just a rebranding of "Austerity"? I dared to ignore the semantics. There better be some change in approach or support will evaporate by next GE.

[@johnf4279]

Much respect to Paul Collier. Don't we Brits need new ideas? It's a revolutionary thought hereabouts.

[@RogerMaccy]

Individuals with fresh perspectives give rise to the current situation, in which the media, supported by the interests of financial power, persistently casts doubt on specific members of a Party in order to eventually sow doubt within the General Public.

[@ElliottCauser]

It's all well and good saying "let A.I. and these cool sounding policy tricks fix it"... but at the end of the day we need to lower inflation, and recoup some cash. Really what we need is to re asses the tax system for PAYE, increase NI, and windfall tax on energy companies and supermarkets.

[@aion5837]

What boosted China's economy was joining the WTO. Micro-economics only works up to a certain point. It's macro global economics that made China an industrial power-house. This can't be achieved regionally but centrally by the state. China isn't self-sufficient in either energy or food. Again, this has to managed centrally and not regionally.

[@MrTomwazere]

This is the problem though. Obviously what we’ve been doing has been a disaster, but it’s just childish to say ‘the regions’ and ‘local government’ as if that’s a plan. Buzzwords aren’t a plan. In any case, local government isn’t exactly a by-word for competence…

[@NeonVisual]

It's always good to hear joe talking about politicing.

[@Widdrington]

A good listen.

[@GeoffV-k1h]

I agree that Labour has been failing to offer much in terms of change, hope or success. But I don't see that new technologies are capable of transforming our lives for the better; nor does the guest seem to see that the country is in a bad shape - not enough investment nor profitable industries. Which countries have become utopias? I don't see any....

[@Hardspace1979]

always said a federal system would work well here. whatever tax revenue you raise you keep to reinvest back into your region. that way each region can compete against each other for industries etc. regions are as follows. South East South West the midlands east anglia nort west and nort east. yorkshire and the humber

[@HarkyOfficial]

Everyone has an opinion. No one has the answer.

[@OneAndOnlyMe]

China may have its fault, but they know how to govern and deliver infrastructure and public services. I'd love for UK to adopt China style state capitalism.

[@464nescio6]

Starme is an ok orator.. but without a platform.. torie client media should be abolished.

[@LONDONGUY100]

"Starme is an ok orator.. but without a platform". As Prime Minister he can broadcast live into every home in the uk any time he wants, just as Johnson did for months on end during covid. Starmer has been advised to do this as little as possible because the more people see him, the more they loathe him. To say a UK Prime Minister....any UK Prime Minister has no platform, is laughably ridiculous.

[@lonevoice]

Good book, worth reading. With its massive control in Parliament Labour has had the opportunity to be transformative but the neoliberal influences on them have made them timid. Such a waste.

[@soapytowel1565]

Starmer is an “establishment” figure & always has been. The one thing the establishment likes to do is maintain the status quo & certainly doesn’t like change therefore the 2 faced, double headed Starmer is in a pickle & will eventually lose his place a leader of the Labour party

[@staninjapan07]

I love a good fantasy story. Harry Potter. Star Wars. A British government that cares for the people it (supposedly) governs. They are all good.

[@tomtom-gi9eo]

Oh man, I'm so pissed off with what this guy is saying. Not it a bad way.

[@Ahuman1-o1y]

His ideas are pretty vague, and wishful. Devolution, centralisation, just off the peg changes in process.

[@margaretmacmurray658]

In a nut shell shite.

[@benwatts764]

China’s experiment is fascinating. Not sure it would work here as you’d need to ensure any government after the next election would stick to the plan to ensure long term results. It would also likely never get passed the British media - “Labour are putting unelected people in charge of your region” but a similar approach modified for our system could be fruitful

[@tropics8407]

Bitterly disappointed ? Didn’t you just get the tax increases on the wealthy that you wanted ? Won’t all these governments and public sector now be better funded ? 🤷‍♂️ what is the problem now ? 😵‍💫

[@TheRen0gade]

Labour are devolving to local government regions with regional mayors now!

[@Hardspace1979]

they can't do shit 🤣🤣🤣 they're just there for show

[@fenderek666]

Bollocks

[@benedictionkupo]

i like this guy but his statement that sheffield is now the poorest city in the uk is completely false (he might not make it in this clip, i watched his full interview and didnt comment on that because i went away and looked into this statement)

[@mediacloud1043]

Are we really holding up China as a model? Sorry this blows his credibility for me. The UK is not China in scale or culture. An economist saying adoption of tech is obviously the way forward is all very well but I'm afraid delivery of widespread adoption of tech is going to be a real slog for the UK. His over simplification is fine for selling a book, but in the real world? he needs to study cost and benefit of adoption.

[@sirrobinofloxley7156]

To see a record of results from the 'Opening of the Flower' policy, of Deng, one can watch 'Iron and Silk', just don't get your hopes up. It's nothing compared to the results of the 2008/9 Sub Prime Mortgage crash that sky rocketed 400 million Chinese out of poverty and into hundreds of brand new cities, the size of New York, that you've most likely never heard of. Not to mention the world's biggest dam project, all completed on a 10-15 year plan.

[@littledrummerboy2907]

Vote Reform uk

[@briankerrison8504]

Have they not raised repair costs..? 🙄🤔

[@samcohen5716]

Why would London give the money it generates to other regions though? Devolved government in regions has already failed in Scotland and wales. This would be a disaster..

[@Bingosaurus]

It's not about giving money away, it's about creating an environment where other regions can grow and have robust economies themselves. And given that every major UK city has at least one major university producing high calibre graduates, it would be pretty easy to actually plan some hubs around that, and give tax breaks to encourage companies to move there. Once you've passed the tipping point, it's self-sustaining and you start to wind down the tax benefits. You really can't run a country with one super city and everyone else begging for scraps.

[@fenderek666]

And it hasn't failed

[@samcohen5716]

@@fenderek666 they have failed ;schools, health..

[@samcohen5716]

@@Bingosaurus you can't get an ought from an is.. All services are concentrated in London, and most of the GDP is generated there. There will be a period where devolved regions will need significant capital from London based commerce. Whey in that case should London give them money if they are devolved, as London would be devolved too?!

[@puertodesuerte415]

Interview the writers of ‘Africa's Last Colonial Currency The CFA Franc Story’

[@Dominatrix97]

So this guy is very concerned about inequality in the UK and cites Deng Xiaoping as an example of revolutionary transformative economics, but did not vote for Corbyn: he voted for Starmer instead. And now complains about him and Reeves. Makes sense.

[@satyasyasatyasya5746]

i know right, that totally perfect leftist party that super duper exists should have got his vote... oh wait... there isn't one. Do you honestly think you can hurl some implication of hypocrisy or inconsistency at him? In this day and age? Under this system? We do what we can within the limits set by the powers that be and then do other things to change that. Vote scolding is cringe, and a stupid persons idea of something intelligent to say.

[@alexanderstefanov6474]

He didn't say he didn't vote for Corbyn in 2016/2019. Unfortunately Corbyn wasn't an option in the last GE, apart from in Islington north

[@breadcrumbtv]

Simply Wow. Design thinking, fail fast + open (collaborative vs careerist/egoic) learning. Power of the collective, fingers crossed next zeitgeist

[@carnmarth1100]

How about a break down of the economic breakdown that Brexit and 14 yrs of Tory government gave us? Instead of a six month analysis!

[@boba2783]

When was labours first budget after 14 years of Tory hell ?

[@edogton]

You voted Labour so it’s your fault we have been saddled with the muppet show thank you so much

[@Adamb87]

This economist had some superb ideas, the China one especially, I loved listening to him a really affable, intelligent and interesting man Love to you all God bless

[@SuperMarion61]

Is it just me or does Paul Collier keep saying “hwh” / hmh” or similar after every sentence/answer? I suppose it’s a speech affectation.And why does he keep calling Olly, Joe?🤔

[@guywalsh3283]

Didn’t the basically adopt more of a capitalist system?

[@helios7170]

This would be wonderful

[@garysmith5025]

London and the South-East have drained the rest of the country over the past 50 years and the Treasury has prevented investment elsewhere in the country if it can't be shown to also benefit these two areas that apparently subsidise the rest of us. Look at statistics of output per capita for the UK's regions and countries, they fall the further you get from London, except for Scotland which is just behind London and the SE. The reason is obvious, the limited amount of autonomy Scotland has allows at least some decisions to be made that suit its resources, geography and societal needs. Give the English regions the power to make those decisions and their output will grow

[@patrickmorrisoconnor5419]

The picture painted by this guy is simplified to the point of being pure fantasy. These kinds of devolution experiments were only politically possible because China, as an autocracy, could ignore and cover up cases where things went wrong. And the "plenipotentiary" powers granted to regional governors were only possible because China is a command economy. In the UK the gov cannot grant those powers in the first place, because most economic power is in the hands of the private rather than state sector. In other words, to do what Collier is suggesting you have to begin with an autocracy with near-total power of media and economic activity. Maybe in context he explains this and it makes a bit more sense, but this clip on its own is nothing less than barmy. Collier also gets his stats totally wrong. The fastest improvements in life expectancy and infant mortality took place in the late-60s and 70s, before Deng got into power, and actually slowed down in the 1980s. Not to say Deng was to blame for this. Life expectancy by 1980 had gone from 45 to over 65, so there wasn't much rope left in terms of "easy wins". But the fact remains that the stats he refers to are totally bogus, which is a red flag.

[@debsmith5520]

Britain had and has always had an imperial 💩 ton of devolution. Economic planning has been in the hands of local authorities and businesses for decades, via regional development authorities and local enterprise partnerships. Missing is scrutiny, accountability and talent. Reason china suceeded and continues to succeed is has all three.

[@chriscrew6541]

Neither is China motivated by short-term profit. It invests in itself out of sheer national, rather than individual, self interest. As result it has a will to build infrastructure and manufacture goods which is something the UK abandoned years ago simply because it is too long a term for a return to Western investors.

[@HappySativas]

Man claims to know everything but voted Labour anyway 💚

[@whackeryounis]

Did you watch the video? He doens't claim to know everything. He's giving an example of a positive outcomes of devolution. Plus he voted labour to get the tories out. As long as we live in a 2 party system, if you want to get rid of the current gov, you vote for the other to minimise the chance of them staying in power. You've got some solid critical thinking skills there bud.

[@HappySativas]

@whackeryounis we live in what seems like a 2 party system because of small-minded people like you. I watched the full interview that this is a tiny clip from, unlike you. Please leave your mother's basement more often 💚

[@indricotherium4802]

In the UK, a change of party in government at Westminster is not much more than a change in the front of house senior management team. The instructions, the guidance on direction of travel and the key decision making come from the board of directors, somewhere upstairs, and they don't change.

[@jasonshank1408]

Who does politics Joe support now? Does anyone represent this channel now that Labour have proved so poor? Switch to the Lib Dem?

[@MabDarogan2]

Yeah Joe

[@satyasyasatyasya5746]

The guest seems like a nice and knowledgable man but gosh he talks so slowly. Reached for that x1.5 speed so fast xD

[@chrisbremner8992]

Whitehall has increased its headcount by 38% since 2017 . Astonishing, the bureaucracy has failed so labour gave it a massive pay rise .

[@queefchiefwiggam3386]

JOElly dugmore

[@iamndodd]

Food should be more expensive. Ferraris should be cheaper.

[@industrialmonk]

The problem is that in the greater Manchester arena the regenal mayors are crumpt & i have evidence of this. So all that would happen is thay would increase their personal fortune & friends & family.

[@sieratzky]

Follow the China example? What a tool.

[@mrnice7570]

Argentina is booming....

[@JohnHaveaguessGoogle]

He voted labour in a tantrum. What a genius.

[@davidmccabe4041]

Disappointed is the word to describe the new Labour government....well said. Maybe your government should look at what we have done in Ireland over the past 60 years....very similar to the suggestions made by your interviewee. ...all based on our First Programme for Economic Expansion in 1960 when i was a trainee chartered accountant. Regional corporate tax policies, development of regional fishing ports, development of Bord Bainne to export our butter, low corporate tax policies to attract overseas investment etc david mccabe dublin

[@maxzoch9705]

Very convoluted way of saying federalism

[@Hardspace1979]

nothing wrong with that

[@paulthepiper4602]

Labour are very sick

[@billy-f2b4t]

Did Sleepy Joe forget his own name?

[@vis7139]

Hello bot!

[@billy-f2b4t]

Beep boop beep, hello Viz7139

[@vis7139]

@@billy-f2b4t How come you're talking about "Sleepy Joe"? That's a Joe Biden nickname, and this guy is called Oli not Joe.

[@billy-f2b4t]

Then why did Sir Paul called him Joe throughout the video?

[@vis7139]

@@billy-f2b4t I don't think he did? If he did then his guest got it wrong, but I didn't notice that

[@longandshort6639]

Socialism ALWAYS fails. The only hope is make the state smaller and more free market capitalism.

[@monkeykingeater]

Capitalism ALWAYS fails. The only hope is to make the state the people's and abolish private property

[@chriscrew6541]

I am not an economist so I am not qualified to counter this guy's argument in academic terms but I can express an opinion as someone who also voted Labour at the last election. Yes, I am disappointed by the new government's first few months. The political naivety senior figures have displayed in the first few months of government is almost touching. I hope their presentational performance will improve but a lot of political capital has been squandered for absolutely no economic gain in the meantime. However, the UK is not communist China, we do not jail dissidents for standing up to government policy be it national or local as happens there. Labour has indeed announced the creation of new regional mayoralties and they will have some influence as those in London, Manchester and West Yorkshire have already proven but they will not have the dictatorial powers that this guy has indicated were handed to regional governors in China and rightly so! Thus, in my opinion this guy is advocating arrant nonsense in the context of economic development and the democratic process in the UK.

[@robbieshand6139]

Yes, quite. "We should be more like communist China" is probably not the winning economic argument that he seems to think it is.

[@owentill]

@@robbieshand6139particularly considering not even communist china is able to reach the communist chinese standard. They just make up their statistics (read a good paper on this by a guy called Luis Martinez). That’s before you get into all the short-termist economic policy that china uses to sustain its figures even when they already fake them.

[@Wulfuswulferson]

'we do not jail dissidents'. We do, we have climate protestors serving longer sentences than violent criminals

[@matchfactoryman]

Better to have spoiled your ballot paper than voted for the obviously worst shadow cabinet ever, and the potentially poorest ever PM. I couldn’t vote for them even though the Tories deserved to be removed.

[@vvwalker7261]

Wowsers, a PJ video that i can give a like 👍, what a crazy day. What this guy describes is how the US works, 50 states trying different things and learning best practices from each other - it works!

[@johnf4279]

Queer Starmer excelling as a funeral director!! Spot on Sir!

[@-JT-543]

😒

[@californiadreamin8423]

This “economist” !!! Has he worked in the Treasury ? Is he the expert he thinks he is ? His moment of glory to be interviewed by Politics Joe. Edit: Is this economist another Patrick Minford I ask myself.

[@MrNatbatten]

Why does he upset you so much, he's talking sense and using actual facts about the Chinese economic development over the last few decades to back up his thinking, why are you so threatened by that? Are you paid to pour scorn on such thinking by the likes of Musk, Murdoch or Bezos????

[@Dominatrix97]

Well he’s Professor of Economics at Oxford so…

[@californiadreamin8423]

@ I’m not upset. But his area of expertise is clearly founded in academia. As for using “actual facts” we can all play that game particularly over the last few decades. Your final sentence is absurd.

[@californiadreamin8423]

@ So he’s a professor in Oxford . Am I expected to take everything he says as gospel ? What’s his name , I’ll look it up ?

[@Dominatrix97]

@@californiadreamin8423 Paul Collier

[@Hardspace1979]

did you tell him after the interview your names wasn't "Joe", Ollie?? 🤣🤣