We need to tell our story
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- Опубліковано 10 жов 2024
- I’ve been accused of repeating myself on this UA-cam channel. And that’s true. I have. But it’s only by honing our stories about what a decent, sustainable world looks like that we can persuade people that it’s possible to have one.
#uk #money #economy #politics #government #tax #labour #starmer #keirstarmer
ABOUT RICHARD MURPHY
Richard Murphy is Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best known book is ‘The Joy of Tax’.
This video was edited by Thomas Murphy.
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Keep repeating Richard, I'm learning and I'm repeating.
Like a parrot 🦜
@@JupiterThunderself awareness fail, there!
@@markwelch3564 I leave you to your left-wing mantras.
@@JupiterThunder 👋
@@JupiterThunderexactly like a parrot, you've got it.
Well said Richard, keep pushing that rock.
It'll roll back down and squash us all. Leftism always ends the same way. Look at Venezuela. More oil than Saudi but broken by left-wing ideas like Richard's.
Wir müssen unsere Geschichte erzählen.
What people really need to know is that a country's finances are NOT the same as a household
The wealthiest era of Britain was the 'Tally Stick' era. Government has been hijecked by private currency speculators. Nothing can change until the means of exchange returns to something like that. It doesn't have to be tally sticks but has to be a means of exchange divorced from debt, commodity, and speculation. I'm suggesting TWO ECONOMIES as a solution. A residential economy founded on a fair means of exchange and the commercial economy similar to this one wherein capitalism is not allowed in four areas: housing,. food, education, and healthcare.
i appreciate this. thank you.
I'm afraid neoliberalism has already cost us a liveable environment.
"Yes, the planet was destroyed, but for a beautiful moment in time we created a lot of value for shareholders."
Brilliant Richard! I’ve been onboard with this basic narrative since I got out of the idiocy of London 50 years ago. I’m sharing this as much as I can. Oh…and btw…we MUST change to PR voting. It’s the beginnings of so many door opening possibilities.
Sound advice. Thank you Richard.
Thank you Richard for being a truthteller❤
Repetition is required to remove the false messages that are pushed out by right wing think tanks, in the interests of a minority wealth hoarders.
Sounds rather like Hitler or Stalin: "tell a lie often enough and it becomes the truth".
@@JupiterThunderthat's exactly what they are doing
'They' being the 55 Tufton Treet far right Libertarian think tanks. We saw their handiwork in spreading lies to achieve Brexit, a Trojan horse to facilitate progress to small government and dismantling of public services. Remember the illegal doings of Cambridge Analytica using Facebook data to target people with their deceitful personalised adverts to convert them to no voters.
It was neither of those @@JupiterThunder ..... most famously it was Joseph Goebbels, of the National Socialists.
Don't make it too obvious Richard.
Bravo Richard! Keep it up man.
Nothing wrong with repeating lessons until they’re learned 🙂
This needs to be on a permanent loop. Never stop repeating. 👍👍👍
"Wir müssen unsere Geschichte erzählen."😄
It works. I started watching this channel recently and repeat the 'spend first, then tax' line to my customers, all of them are surprised. Interesting stuff thanks for your viewpoints.
Absolutely right Richard, well done and keep it up. Thank you so much.
I'm very much in agreement -
we need a much better, clearer narrative
The problem is, that it's pretty much worldwide.
Thank you, Richard. Please keep telling us these truths. It makes my day a tad more tolerable.
Tall stories on both sides.
Please keep repeating yourself, it is not only effective, but also appreciated. Thank you.
It's very boring. And irrelevant because the net result is the same - government spending requires taxation.
Thank you, Richard. Keep telling the stories.
Thank you for all your videos and for challenging the lies of the establishment
"Wir müssen unser Geschichte erzählen."😄🫡
Wenn es richtig ist, warum nicht?
Excellent. Tufton Street's version is that the big struggle is the one between what they call "liberty" and tyranny. In fact, their real enemy (and they know it) is democracy. Democracy and everything that enhances it (free speech and association, fair distribution of wealth, human rights, fairer elections, devolution etc) is the story which we need to tell to counter their "liberty".
Thank you again, Richard. Incidentally, if you ever consider a podcast, I for one would be interested in it.
Thank you for your hard work Richard, I have learnt a lot and I'm passing it on to anyone who will listen, mainly I ask questions to make people think.
Thank you Richard for making an informative difference and promoting a real understanding of the myriad misrepresented issues that plague our nations.
I experience on a daily basis the results of mass privatisation - dental care, telecoms, gas and electricity, even pet care etc - and they are horrendous. Time for a total rethink
I've said it before; I'll say it again. Thank you, Richard!
You're absolutely right, & doing a great job of pointing out the way in which the world economy just drifts along unchallenged. Watch out for the contents of think tanks being poured upon you. Best wishes. Al.
Well said!
Perfectly put and accurate.
Richard you must get on Newsnight and Politics Live to repeat these simple truths.
Thank you Richard, a breath of fresh air in the stagnant environment of our political climate. I enjoy listening to your videos which are presented clearly and confidently. Keep up the good work.
repetition is simplest form of brain washing.
Well said.
I agree. This is my third heating free winter coming up. I have tweeted since my boycott was only a few days old...mainly to keep my own spirits up....but that has developed to a rejection of the correlation between shame and poverty. This summer I started wild swimming in the north sea at Portobello.
I am starting to see the benefit: the cold I feel in the sea is the cold I feel in the house, and I understand now how to help my body cope with the cold.
I refuse to be a victim, and I intend to stay alive as long as possible out of sheer damn spite.
Thank you! Richard. I need to hear all this often and again.
Utopia is ever illusive. Your post is accurate. The management and governance to achieve the goals is non-existent in Britain. We have observed this over the past 40 years. After the Blair/Brown regime I can’t believe Labour has had another chance. It won’t end well, of that I am sure.
Well said
I repeat to my wife ... she now hates me ! Lecturer mantra ... tell them .. tell them that you have told them ... tell them that you have told them again
well said Richard,well said Richard,well said Richard
The average audience member, like myself, has no training in economics. Thanks for repeating lessons, to help me (us)understand better how money is used and works.❤
Richard isn't an economist, he is an accountant with far-left wing politics.
@@MargaretDeakin-d6m Economics is based on models, not reality.
That’s where typical university textbook classical economics fails. It makes unrealistic assumptions (such as markets always being in equilibrium) which makes it inapplicable to reality.
@@Truth_above_everythingso how did Trussonomics do when tested in reality?
@@JupiterThunder Sorry if you think tis man is far left then you understand zero. Left leaning and putting people first yes all day long. Juts remember this the "Right" only care about the rich and no one else and the rich are the top 1% only, everyone else is disposable.
Repetition of the mission is good.
Tax the rich. Renationalise our public services. No political donations - 1 Vote 1 Person.
The rich are asset owners. If their tax liability is increased, they'd naturally want to keep the amount leftover at the same level or higher. To do this, they would increase the cost of the products and services consumed by the general public.
This would result in the general public being no better off, as despite having more left after tax, it would be spent on higher-priced products and services.
Brilliant video, thank you, so consise and well explained.
Interesting point about repetition, it's how we learned our times table and it most certainly works. 'Spend first, then tax'.
"..the way we should be living" is a chilling statement.
borderlands
Very perceptive. Why can't we all just do as Mr Murphy tells us?
Why?
It indicates a fascistic streak. Like all far-leftists, if you disagree Richard wants to lock you up "for your own good". Kind of like "to save democracy we need to abolish democracy by shooting Trump."
so you think our current public services are desirable, and don't want to change anything?
A hint of the underlying totalitarianism
'Spend first and then tax'. And right now this government needs to spend to ignite growth, innovation and progress and when the economy is vibrant and growing strongly the tax take will grow, naturally. Invest, invest, invest - now.
As the phrase goes, 'Repetition legitamises'.
I find that hearing explanations several times helps me to understand and assimilate the argument and increases my confidence in explaining to others.
More widely, the pervasiveness of the message is critical to its acceptance. While some are only willing to be persuaded through reasoned argument the majority are not interested in the theoretical niceties and will tend to follow the majority view. A message repeated in numerous different contexts will begin to give the feeling of that majority. While this is the tactic of advertisers in this case the heart of the message can be substantiated.
Could you please record a video with the response to MMT criticism? Would be interesting to explore MMT from that perspective.
Most MMT criticism is straw men. They claim MMT says something absurd, then they declare it is absurd
God knows Labour is not the change we need.
Starmer didn't get elected because he was brilliant, he got elected because the Tories did so badly and he promised Rupert Murdoch and the other billionaires that he would continue to trickle the wealth upwards from the poor.
we will see, one of the new MP's is Torsten Bell ex resolution Foundation is currently a Cabinet Secretary
I'm unsure on Reeve her everyday economy stuff is an anathema to NeoLiberlism but the stuff she has come out with since taking office have been weird and don't fill you with much confidence.
Still real economists in government is at least a start
Who or what,in your opinion, is the answer ?
@@anthonysteel6877a real left wing government offering an alternative to lobbying and the neoliberal system.
@@anthonysteel6877 it's rigged against us
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.
I saved the video, shared it, and will remix it. Much love and support. Thank you so much for your channel. Because of people like you who share authentic insights and genuine knowledge of the reality in which we found ourselves, real change is possible.
I'm going to do my bit, promise.
I appreciate the effort you put in. It is occasionally necessary to tell a story / message a few times, and sometimes with just a slight vocabulary change in order to get a message across. So ,please, keep up the challenge and the balance.
There's no left
There's no right
In the middle we all sleep
In the bell curve that is humanity, of course there is a left, of course there is a right, in the middle are the sheep.
Horseshoe theory is nonsense.
UK is lacking history of economics at school, so society understands it's economic prosperity depends on free trade
Well said. There is definitely a story to tell insofar as we seem to be using the same economic model which crashed in 2008 and in the aftermath it is just creating more debt.
Tall stories all round, I am afraid.
I'm so happy I made productive decisions about my finances that changed my life forever., bought my second house in August and hoping to retire next year at 41 if things keep going smoothly for me....
Congratulations dear. You're really doing well yourself, I'm 48 and my financial life is in a mess. Any great tips would really go a long way in shaping my life. I want to buy my own house, that's really a big flex
Financial education is what we need right now for more than 70% of the society in the country as very few are literate on the subject. Thanks to Stacey Macken, the woman that changed my financial life.
I know this woman you just mentioned. Stacey Macken is a portfolio manager and investment advisor. She gained recognition as the first female trader educator; a renowned investor she is. Stacey has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
Honestly, I'm surprised that this mrs Stacey Macken is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely well .
Been debt free for two years thanks to Stacey Macken. So sad to see my friends in their 40s with car loans, mortgages and credit card debt
Yes! Yes! Yes!😀
Why does the BBC constantly platform these right-wing think tanks, when it's supposed to be impartial? I was sick and tired of seeing someone from the IEA on the BBC every day, especially that odious creature called Kate Andrews! The right-wing bias is overwhelming, the BBC is not fit for purpose, and I barely watch it these days, along with all the other main stream channels. I now get my information from independent sources.
Because the BBC has always been propaganda
Why does the Guardian believe the myths about taxes?
Yep, this is sales psychology
I hope the professor repeats the one about “Government Surpluses Don’t Create Cash” …
I didn’t understand a bloody word of that one.
Repetition, change, repetition change - is how we bring about change repeating the story and adapting to an ever evolving situation.
I’m certainly more confident in telling others that their taxes don’t pay for anything having previously felt I needed in depth knowledge of MMT
MMT can be summarised as follows: 1. Debt doesn't matter 2. Inflation doesn't matter 3. We could all be rich if we just print more money.
Thanks for your work, Richard. I've seen a lot of your videos, but none that suggest you acknowledge that 'economic growth' itself fundamentally goes hand in hand with the destruction of the planet, which is now all but complete given our trajectory. What we need is open discussion of post-growth, 'ecological economics' and DEGROWTH. Before the inevitable and unjust degrowth that WILL happen to us in ways entirely beyond control.
Growth is what we define it to be by including it in or excluding it from our calculation of GDP, GNP and NNP.
If we considered learning to be economic activity and paid all students a wage, then we would have ‘growth’.
The same thing could be said of care for the young, the ill and the elderly.
I find, sadly, most find it hard to believe due to the strong mainstream narrative & those who do have critical thinking, often don't look deep enough to see the truth so revert back to said narrative.✌
Thank you keep up the repetition the more you do we will realise we've been gaslighted by our governments
How close is the Federal Reserve and US Government to following MMT? The central bank balance sheet rose historically to gargantuan levels post GFC - QE and beyond! They might now start to pause doing QT after an inflation spike which wasn't just about supply constraints across the pond. Regular bills are passed to increase budget deficits in the US, but they don't get passed without drama - suggesting some fiscal discipline. What concerns me about MMT in the UK combined with reigning in the powers of the Bank of England, are Sterling and the packs of wolf-traders in the City. We have not tended to elect governments which understand how money works and contracting some of this job out to a Monetary Policy Committee has probably helped the UK curb the excesses of flip-flopping government policy changes over the past 30+ years. I am enjoying your channel and looking forward to you fleshing out your ideas, repetition is fine too.
Thanks
Yes, please repeat, repeat, repeat!
You and your like must be heard more often and louder than Neoliberals! 🙏
Abd in the end, lesrninh and memorozing ist al about repetetion starting in esrly childhood - so repetition is blessful!🙏🇩🇪
I live in Scotland and use your vids about the false neo con narative, which is so often used as a reason for keeping the Union with England. I start my conversations with the way bank loans work, i.e., the principle is created out of nothing, and the interest is the lenders profits. Profit, profit from your labor for something created on a keyboard. I then explain that this is called fiat currency, and almost every trading nation on earth uses it. Then i tell them that the concept of Fiat currency was invented by a Scot John Law they of course think Fiat currency is agret idea and we can use it to escape the Union by doing what the BOE does every day.
Good teachers always repeat and repeat
Great teaching method
Pity both left and right economics are bogus
Thank you I've learnt a lot from this channel and do keep repeating "how money works" to anyone who will listen. The problem we have though is, while there is no doubt in my mind "Governments CAN be a force for good" Governments we actually have are made up of those politicians who are good at persuading people to vote for them. We end up with incompents in charge and the only alternative little better. No wonder people look at those Governments and think "Do I really want to give these people more control over my life?"
Thatchers story of the housewife's purse was my first realisation of this.
and even by it's own standards, it's nonsense
If a household needs something big, like a car, they use credit rather than not take that well paying job that needs a car!
@@markwelch3564 Reckless borrowing soon brings economic collapse to a household. To a country, it's more insidious, causing destruction by hyper-inflation and causing cut backs on public services because of spending on debt interest. But economic collapse of an entire country still happens, like the UK in 1976. So the 'housewife policy' is a sound one to take. When the IMF bailed out the Labour government in 1976, it insisted on "housewife economic reforms" as part of the loan agreement.
@@JupiterThunderhousewife’s don’t print the money they use or borrow from a bank they own.
@@JupiterThunderyou have been taken in.
@@JupiterThunder so "fiscal responsibility" is quitting your job rather than buying a car on credit?
That's a great point! I find it's hard to repeat this story, as I don't not fully understand how tax is good for inflation and how would it all work together - perhaps I am not alone. Maybe worth making some video that would explain it visually? Like what is the story about and how would it work end to end
I mean, let's say government gets money back via taxes. As it takes it back it keeps inflation at bay. If inflation is increasing, then taxes would be increasing as well, right? Ok now I pay more tax, effectively making my actual income less. It does not sound a good! What is the next step? How would it actually benefit me and work together?
In the country many are economically left wing as we have seen with the reaction to winter fuel allowance. Say no to this totalitarian system whereby we are economic units. Spread the word. It’s on all of us not just Richard
Well said, but I believe that everybody who is supportive of this message, because it is true, should also acquaint themselves with the "Lewis Powell Memo" written in 1971 in the USA and sent to every business. It's intention was to persuade businesses to organize and fund lobbying groups to rein in all the creative thinking that had started to take hold in the 1960's giving rise to demands that were seen as threatening to the Capitalist rentier economy.
What's the point if you have no leaders to deliver them ?
Who backs down every time the billionaires threaten to leave.
I will continue to share these uploads!
Can’t express just how much I like this particular piece.
I was able to continue teaching Keynesian economics right through the Thatcher/Regan years.
I know Cambridge continued using Keynes’ General Theory and used to hold an annual wake for his ideas on his birthday.
As for the UK’s adoption of the ‘Free Market’ ideology you are describing, as well as extolling Free Market thinking itself, two other pieces of poor economic theory were heavily promoted. These were ‘The Augmented Phillips Curve’ which gave a reason for destroying the welfare state and ‘The Fischer Equation’ which underlies Monetarism.
A particularly significant paper ‘Too Few Producers’ (written by Eltis and Bacon in the mid 70s I believe) provided ammunition that governments used to reduce the public sector.
I never hear it mentioned these days but it contained a fundamental error by equating production with manufacturing and demonising services. This led to the introduction of SET (Selective Employment Tax). Thatcher then took the concept into greater idiocy by equating production with the private sector and services with the public sector.
I really enjoyed hearing you speak recently at our Scottish Currency Group Conference.
Strange that there is no limit to the level of profits that can cause any harm to the economy but Philips provided his reason why fuller employment would.
The Chinese government just proved that strong government rules industrial economic power.
Oh man, I’m gonna need some good catch phrases for my tax clown.
The only change I like is the change I get out of a tenner.
Hi Richard, can you share your BlueSky handle in future videos?
Richard, have you spoken with Gary Stevenson from Gary's economics channel? It would be good to hear you two discuss economics together.
Profits are not the only consideration
Thus the term TINA (there is no alternative) but there is...
Keep up the good work Richard. I find it odd that anyone can set up a group and call it a think tank. An honest group would call itself exactly what it is, like a right wing group that wants to keep all the wealth in the hands of the few rich. But then many of those who currently accept what these groups say would then question their validity.
I'm right they are wrong.
Exactly this. However Richard, please look beyond the borders a bit. The narrative isn't easy to just transplant to e.g. the EU, since the central bank is not in the hands of the member governments, nor in the hands of the EU commission or parliament. Would love to hear your story translated to that situation.
All learning is about repetition.Then, taking actions, and sometimes getting it wrong, and then keeping on keeping on... This brings success eventually.
This is why poverty makes lives more difficult for many. The poorest walk on a tightrope,causing high anxiety.
1. Choices are few
2.Experiences are limited or non-existent. EG hobbies, sports,holidays. Extra tuition before exams.(all confidence building)
( all joyful things)
3. Study space,warm and quiet.
4. Enough nutritious foods.
Take money management. Notice how the poor are accused of no ability in money management.
1. First pocket money is earliest way to learn. In poverty this may not be available.
2. Practice makes us better.eg we waste our money a few times, then realise that saving for a few months gains us bigger buys.
The poor cannot practice this life skill while living hand to mouth.
Money management could be taught in school, along with sociology, to stop the poor from believing their poverty is their problem, rather than our unjust system, and absolute lack of meritocracy.❤
I don't like societies ,unless it's the co -op and a good co operative 😂
Preach to the choir till it grows big enough. The problem is that the vast swathes of voices people are exposed to want continuation of this system for their own agendas.
Change is slow, resistance to change is high, we're on a kind of autopilot into a chaotic future.
Short-term thinking in our systems is rife, just look at the false economy of austerity and all the damage it has done and is still doing. You can't cut your way to a better future, it'll only make things worse for the great majority of people and it ends up costing even more down the line.
Wasn't it Goebbels who said that "tell a lie once and it is still a lie. Repeat a lie a thousand times and it becomes the truth"?
There's a slight typo in the title of this video. It needs the word "fairy" before the word "story".
Did you have similar grandparents to what I was blessed with? both paternal and maternal were active Labour supporters and they instilled us with the same message wth one slight difference. "Keep asking your audience questions to stop them saying here he goes again same old story" I am still amazed on how mant people dont know what neo-libralisem is. One thing is, the word is never uttered by a neoliberal.
We need to challenge the false narratives
The chief bankroller and animating force of Mont Pelerin? The Kochs. Friedman was more than happy to create ideas for $1000/hr (or whatever they got)
I have always said that the right wing operators are fighting every day to get their vision on how things should be which others do not do.
You know what Herr Goebbels said, 'Repeat a lie, no matter how big, often enough and it becomes the truth'
Hello Richard, thanks for all your efforts.
I would like to ask you a question.
Do you think the government 20 billion fund to carbon capture was a good idea?
I care about the environment but I'm not convinced in the carbon capture is the way to go about it.
the math doesn't add up.
wouldn't it have been better for the government to use that 20 billion in clean energy instead?
1: government owned clean energy helps to bring down prices
2: clean energy..
Carbon capture however
1: very expensive
2: not affective in helping the environment.
Yes, if you repeat a lie often enough it becomes the truth.
Why do you repeat yourself you ask?
Why vote at all when nothing gets better for ordinary people? Haven't voters actually realised this yet?
Because the right always vote and if we don't things will change for the worse. If people stop being cowards and thinking they have to vote for the duopoly things would change. If all non voters voted for a small party or independent we'd see some improvements
@@joananthony6323💚