The Intelligence Squared Economic Outlook: Gillian Tett on the Year Ahead in partnership with Y TREE

Gillian Tett is one of the world's most in-demand commentators on the economy. An acclaimed columnist and author at the Financial Times, she has long used her training as an anthropologist to break new ground on economic affairs, notably predicting the 2007-8 financial crisis after she observed the way bankers were behaving around the world.
In October 2023 she came to the Intelligence Squared stage to explore the biggest challenges we face today. She was in conversation with BBC broadcaster Jonny Dymond. What are the potential implications for the global economy of a second Trump presidency? Will the Conservatives be able to rein in inflation in time for next year’s general election? How fast will AI transform our lives for better and worse? And what can an anthropologist’s insights teach us about the cultural shifts driving global investments?
Tett analysed what she sees as the key trends shaping the world economy and shared her insights to help us better understand the key geopolitical and technological changes taking place in our society.
This event took place in partnership with Y TREE. Y TREE’s advice gives their clients transparency, efficiency and meaning over their finances using a combination of tech, data and experience. If you would like to find out more about Y TREE, please visit y-tree.com.
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Intelligence Squared has established itself as the leading forum for live, agenda-setting debates, talks and discussions around the world. Our aim is to promote a global conversation that enables people to make informed decisions about the issues that matter, in the company of the world's greatest minds and orators.
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[@Daytona2]

Insightful as ever, thank you. The fact that more talk show hosts have appeared before congress than scientists means we're doomed. Banning extreme narcissists from public life would fix this.

[@drpersuasion]

Wow, this blew my mind. Such an excellent dialogue.

[@bogdanelin]

Great talk, thanks for Gillian, very realistic approach, tight insights and personal sense of reflection. Was a pleasure to listen to …🔝speaker

[@antonysmyth2464]

Excellent session, very helpful.

[@stoppelbeise37p]

Excellent!!!!

[@wm.scottpappert9869]

I am a techno optimist. Great respect for Gillian Tett's knowledge and sense of global interconnectedness but ... of course there is always a but ... as the saying goes, 'energy is life and all life stems from it'. She would due well with reading the energy and battery topics (though massively broad and deep) from a scientific, physics based perspective to be able to speak more comprehensively on the debate. Truth be told (and what we are witnessing unfold globally) is that REs 1) don't scale 2) have very low EROEIs (Energy Returns On Energy Invested) compared to almost all other energy sources 3) have very low production compared to installed capacity 4) require a shadow grid powered by real 'just in time' fuels like gas, diesel and nuclear that is available 24/7 to back the intermittency and unreliability up. this 'hidden cost' is usually overlooked in the RE optimism and a main driver of rising electricity costs 5) are only capable of generating electricity ... while most importantly, thermal energy for industrial processes like steel making drives a sig greater proportion of demand for energy and is highly CO2 intensive. 6) the globe has already spent over ~$7 TRILLION on REs with nary a dent in fossil use. (and as Rick Rule has stated 'there isn't enough $$$ in the world to ramp up REs to where they are significant mitigater of CO2' 7) Wind giants Siemans and Orsted are balking on outstanding contracts given rising costs due to increasing borrowing interest rates and prices on materials, particularly metals almost 100% exclusively mined and refined in China 8) breakthrough technology in the holy grail battery space that the RE pyramid is built on will take ~ 20-30 yrs to test, develop, bring to market and scale (this after it is 'discovered') with the hopes of being competitive and 'saving' the sector. Because you are an important and influential voice internationally in many circles, I highly recommend a couple of books Gillian by well recognized 'masters' in the energy and materials science fields that would open the path of understanding to what energy insiders (and nuke nerds) already know (but risk being 'canceled' over by discussing publicly). : Vaclav Smil : Power Density: A Key to Understanding Energy Sources How the World Really Works Mark P Mills : The Cloud Revolution ( How the Convergence of New Technologies Will Unleash the Next Economic Boom and a Roaring 2020's) best regards ! Mills' book speaks to what will and is driving the next industrial revolutions and hence mass economic growth

[@RahulPatel-wn8gv]

Is he with u young lady? Who's the gentleman dozing, or is he snoring seated nxt to u..? can u nudge him n transport him back into our world pls..? Aaahhh.. Yesss...? Yessss? This is not a public park.. Mr... or a library... open for homeless, unemployed ones to while away... Mr.... Raskolovic... Madame Gillian Tett...!!! Am gainfully occupied for the present & was sauntering around this place post a sumptous meal... & happened to see ur name on the placard n the tooic of discussion... If u'd recall... we've met before Gillian... decades ago... I've not at all forgotten... and where was that... Mr Raskolovic... i don't seem to recollect.... hvng met with u earlier...? in Tajikistan...!!! Oooohhh yeeaah yeaaah.. i did spend a few months in that part, while i was doing my doctoral thesis on anthropology in the then Soviet Union.... maybe we'd've bumped into each other somewhrre.. anyways... do uve any Qns... lots of Qns... Gillian... assumed ur talk snhow would be an eclectic melange of social, economic political, historical influences on money, finance etc... but u began reeling off numbers, bombarding us with stats, quitung economists n fin institutions, expecting half the audience to fall asleep.... and u took that fir a signal to enjoy ur afternoon siesta post ur sumptuous lunch Mr Raskolovic? Really wonder, why u'd not shun the customary template while holding forth on the most boring subjekt... inflation... economy. outlook.... instead of spicing it up... bringing the mundane subjekt to the hoi polloi audience level w/o trashing, sensationalising it le the London tabloid - - Sun.. notorious for.. t.. we all know whats it infamous for... what's ur Qn if uve one.. on economics .? Yeeeaah... very much... what does the X n Y axis in the graphic chart denote Ms. Gillian Tett... most often weapinised by economists & finance pros? Well... its kniwn fact of one denoting years n the other the interest n / or inflation rates... over a given time frame... U see.. given the fact of u being an anthropoligist... besides an economist n financial journalist, i assumed u'd weave the dry topic with the bare facts of life.. h'err economy... As in the co relation between X n Y chromosome species & their impact on the economy & interest rates in particular...? Elaborate pls... am really intrigued... Mr Raskolovic.... U see Giliian am referring to the size, ie measurements of the female anatomy, over the decades post war ie post 1941 - Pearl harbor moment , post 1945 atomic bomb shell & its aftermath...!!! Is there an inverse relation between the trending female anatomy shapes & size and the bust & boom cycles, Gillian Tett...? Aaahh u mean the erratic swings on the Wall st ever since China became to be integrated in the global economy alongwith Japan earlier... ? Precisely.... earlier the Wall st was dominated by the Western giant corporations incl some Japanese ones which again were owned by global stakehilders besides off course the Arab - Islamic Oil n Gas giant conglomerates...! The standard measurement then, used to be buxom - 36 - 24-36, ideal, aspired for size & around those numbers, trend set n glamourised by Hollywood sensationals in particular... that'd translate into abt 90 : 60 : 90 cms ? Soooh the Wall st index grew steadily n sharply at square angles... Until the 1974 Oil price shock, Raskolovic ? Precisely Ms Gillian Tett, that was when the Nixon - Kissinger duo shook up n woke up the sleeping in deep slumber... China..... And as we all know is it not relatuvely difficukt to assume the age of an Asian ie Japanese or Chinese woman in particular...? That'd be a result of genes, healthy lifestyle n dietary custom... which in turn was drastically impacted by the West ie US n EU setting up factories n shops all around in China... est the US n EU fast food n work culture... wreaking havoc on the traditional, customs prevailing in China...? U mean rushing up, speed pedalling, the economy at a bfeak neck speed... resulting in a havoc on the global stock n commodity market indices...? sharp erratic swings both ways... witnessed since post 1991...? U see Gillian... the econimy earlier ie post 1945 was pumped up to an ideal shapely size.. 36 : 24: 36..... .. and then after abt 5 decades suddenly the fast pedalling of economy resulted in an reverse ie inverse impact since then... ie inspite of the seeming boom all over the globe... yet the astute n aloof - inspite of not beinga bystander observer - - could sense of a terrible crisis looming large over the illusory glitzy shiny booms accompanied by opp movements ie busts... and u attribute that to the Asian wimen anatomy sizes, Raskolovic...? Would u be surprised if i told u... of a book I've authored touching upon precisely these seemingly bizarre connections? Not at all... besides, i thought i heard someone aksin, of the most earth shatterring impact on global economy in the nr future.... What'd that be in ur virw, Raskolovic...? The moment i enteref the hall... n saw thru' the tell-tale sartorial signals... u exhibited n conveyed - - ur hair style in particular, - - - - styled in particular for this chat show? besides.... the choice of colour... n ur emphasis on the smart phone in ur palm... i guessed the signals... most probably accurately.... We also need to know... the signals that u saw thru Mr Raskolovic... chorus from the crowd.....

[@Cejpat]

Many questions brewing...

[@oliverjamito9902]

Rest is required! Likewise while resting. How's thy conversations given unto thee? Gnashing of teeth nor can learn to become sound minds! Remember conversations given unto thee all? Even siris knows what is Language? Siris will say none but from here! Honor and Gratitude unto our Heirs and our Beautiful upon all dry grounds. Remember none can't exist without THEE ALL!!!! Reasons given Mouths! Heirs, our Beautiful, and Angels will say nothing is better to have conversations unto one another!!!!!! Can't touch the roof it! Who among will glorify Can't touch the ROOF OF IT? What is deep but made shallow! Narrow

[@pldevries]

This woman has no clue what she's talking about. Tett's role at the FT has been to provide the "woman's" point of view of what's happening in the economy. Tett studied anthropology not economics. Her economic insights are nil they are armchair sociological commentary. Since the beginning of time, everyone has known the limits of economic models, neoclassical economics and of the failures of central bank policies at key junctures. Tett has nothing to add here.

[@martindudley2339]

I'd disagree, in a broad commentry she is compelling, however in it is also true that economists also have nothing to offer when one considers that their veiw of the "natural world" , ecosystems etc are immediatly externalised; and it can legitamatly be stated that this is one of the reasons we are here, a climate emergency and biodiversity crisis. As an anthropolgist it is greaat to see such training being applied in this area, helps us understand our history; so we can learn from the inquiry. Thanks for making me think on this, walk well.

[@dares16]

Gillian Tett is riding her luck at this point, I must say in her statement on net zero, she is incredibly energy blind and material blind, it was an interesting talk in general, but it just goes to show as she already pointed out earlier with her IMF data, predicting the future is impossible but one thing that is certain is we have certainly reached the biophysical limit of the planet, except nuclear fusion comes in and expands that pie.