Simple remark, the free trade as promoted by the prof does not exist. All countries and trade blocks use the WTO rules for trade with external blocks or countries. Within the EU we lower the costs by optimising and improving the WTO rules. Between Canada and the EU we also use optimised rules. The situation the prof describes, only occurs, if the WTO only allows completely free trade, but that is not the reality. With respect to the prof I can only say; poor students.
Patrick Minford, an incredibly honourable individual in touch with British feeling and character. Good man, fighting the good fight. The legacy of Thatcherism lives on with men like this educating our youth. Common sense economics that our establishment bubble fails to understand.
It’s a pity that his vision is so anti UK workers and plebs like myself, British farmers and so on. If we can import our products from Bangladesh what is the point of manufacturing in the UK if the cost of labour is so cheap over there. Farmers already voted for it so they must love a vision of cheap hormone fed beef from Australia which will make them unprofitable overnight. Anyway Dany if this is the British character and prof Minford is so right, I must be missing something because British Empire was far away from being an open economy in old days to products from abroad that could have been manufactured in the UK.
Is there any industry that we can compete on the world stage with? Can’t think of many! Expect mass unemployment especially in the car industry, farming, manufacturing in general, etc etc.
Mr Minford did someone tell you that the UK exports 44% of its exports into the other 27 EU countries and about 16% through EU trade deals. So the UK depends for 60% of the exports on the EU. The EU on the other hand exports only 8% into the UK. I guess no one told Mr Minford that 40% of the UK exports of not goods but services. Services are not covered under WTO and outside of a common market not easy to sell. So the moment the UK leaves the EU and the common market most of the services they export stop over night.
The thoughts and words of people like Patrick Minford, Milton Friedman and Thomas Sowell need to be enshrined/imprinted into our establishment somehow, otherwise the socialists will one day win.
Nancy Reid so good to hear that! I'm from Wales and hate Welsh Labour & Plaid. I believe they want to keep us poor in Wales so Plaid can keep on with their anti-English nonsense which they believe will eventually get them an independence vote. The more people together we have more chance of changes. England has mass poverty too (not just Wales & Scotland). Our fishing towns and villages can be revived & so many things can change with power back in this Country. Parliament needs big changes and globalist need ousting and only MPs who love our Country & ALL its people should be elected
Oh, I like this fellow. A real character along the lines of Barnes Wallis and Patrick Moore, tons of brains and eccentric. Knows his stuff right off the cuff. They need to wheel him out more.
@@mikereger1186 Your problem is that you have a vision of what Brexit should have been, but it is unlikely to be what others supporting Brexit imagined. You voted for a chimera. Now you are living the reality of it and you'll never get what you wanted, because it was never deliverable. The vote was to leave, not about what would happen afterwards.
Calculus??? Pure fantasy 🙄! How is this guy considered a serious economist? an honest free trader would start explaining why The WTO has stalled...not attack the EU which internal market is the most open ever (in many aspects better that the USA or India, for example)
I watched Patrick Minford tie a select committee in knots by just explaining free trade and a no deal brexit, clever people, bamboozled and I'm watching it thinking, I get it! They are just trying to overcomplicate it!!!
It is rather sad to see Minford in this interview. He is not what he was. I saw him speak in the late eighties, when I was studying economics at school. It was an interesting talk, and highly political. Nevertheless, he had some interesting new ideas. In the intervening years, although his discourse is still political, he has lost much of the intellectual rigour required to command the respect of his peers. Whatever your views on brexit, this interview is disappointing at an intellectual level - high on political rhetoric, with a number of inaccuracies and over-simplifications. Not helped by the interviewer, who didn't challenge Minford once, even on factual inaccuracies.
Simple remark, the free trade as promoted by the prof does not exist. All countries and trade blocks use the WTO rules for trade with external blocks or countries. Within the EU we lower the costs by optimising and improving the WTO rules. Between Canada and the EU we also use optimised rules. The situation the prof describes, only occurs, if the WTO only allows completely free trade, but that is not the reality. With respect to the prof I can only say; poor students.
I can only say you must be as thick as a plank.
Patrick Minford, an incredibly honourable individual in touch with British feeling and character. Good man, fighting the good fight. The legacy of Thatcherism lives on with men like this educating our youth. Common sense economics that our establishment bubble fails to understand.
It’s a pity that his vision is so anti UK workers and plebs like myself, British farmers and so on. If we can import our products from Bangladesh what is the point of manufacturing in the UK if the cost of labour is so cheap over there. Farmers already voted for it so they must love a vision of cheap hormone fed beef from Australia which will make them unprofitable overnight.
Anyway Dany if this is the British character and prof Minford is so right, I must be missing something because British Empire was far away from being an open economy in old days to products from abroad that could have been manufactured in the UK.
Minford is a free marketeer who favours the primacy of ' the market' with the devil take the hindmost. Hes out of date and just plain wrong.
He truly is. An old fart with a posh accent babbling idiocies that idiots take to be the gospel truth from his Lord's mouth.
Every word of this turned out to be total bollox.
A deluded old fool. Professor of delusions!
Is there any industry that we can compete on the world stage with? Can’t think of many! Expect mass unemployment especially in the car industry, farming, manufacturing in general, etc etc.
Mr Minford did someone tell you that the UK exports 44% of its exports into the other 27 EU countries and about 16% through EU trade deals. So the UK depends for 60% of the exports on the EU. The EU on the other hand exports only 8% into the UK.
I guess no one told Mr Minford that 40% of the UK exports of not goods but services. Services are not covered under WTO and outside of a common market not easy to sell. So the moment the UK leaves the EU and the common market most of the services they export stop over night.
The EU is not a country. Germany won't accept the loss of 2m jobs just because Portugal won't lose any.
Im sure hed be happy to explain it to you.
Well well, the Patrick Minford the inventor of Poll Tax and the Brexit.
The thoughts and words of people like Patrick Minford, Milton Friedman and Thomas Sowell need to be enshrined/imprinted into our establishment somehow, otherwise the socialists will one day win.
Yes, they are here for us to laugh at.
Adam smith would be proud indeed.....free trade is back for Britain!
Nigel P Fantasy
If he was going to have a fantasy it might involve suspenders and feathers, not Pat Minford who probably wouldn’t be considered erotic.
There is no free trade. It's a myth. Rising prices and shrinking economy. He lied.
😂😂😂
some of us in Scotland already know about this and whatever trade can do . Nicola sturgeon is history for us who believe in our country.
Nancy Reid so good to hear that! I'm from Wales and hate Welsh Labour & Plaid. I believe they want to keep us poor in Wales so Plaid can keep on with their anti-English nonsense which they believe will eventually get them an independence vote. The more people together we have more chance of changes. England has mass poverty too (not just Wales & Scotland). Our fishing towns and villages can be revived & so many things can change with power back in this Country. Parliament needs big changes and globalist need ousting and only MPs who love our Country & ALL its people should be elected
Let's hope so
this fellow knows what he is talking about
why is everything going wrong?
Sorry, as things have shown he had no fucking clue.
Can't wait for us to leave and drop the 30% EU tariff on Chinese manufactured solar panels.
Yeah that should butter your parsnips!
What economy, the one that is up for a major crash?
You gotta love these in-a-vacuum exposes
A Great Brit. Luvly.
Oh, I like this fellow. A real character along the lines of Barnes Wallis and Patrick Moore, tons of brains and eccentric. Knows his stuff right off the cuff.
They need to wheel him out more.
Hahaha, feeling like a fool yet?
@samhartford8677 no. Current mess is not due to Brexit, actually the refusal to implement it.
@@mikereger1186 Your problem is that you have a vision of what Brexit should have been, but it is unlikely to be what others supporting Brexit imagined. You voted for a chimera. Now you are living the reality of it and you'll never get what you wanted, because it was never deliverable. The vote was to leave, not about what would happen afterwards.
Patrick GENUINELY know`s what he`s talking about, it`s time we had a few MP`s with a working brain
Hes batshit crazy and time has proven that he talks economic nonsense.
A true British hero
Calculus??? Pure fantasy 🙄! How is this guy considered a serious economist? an honest free trader would start explaining why The WTO has stalled...not attack the EU which internal market is the most open ever (in many aspects better that the USA or India, for example)
He isn’t considered a serious economist by anyone bar the lunatic fringe. He is the undisputed laughing stock of U.K. economics
I watched Patrick Minford tie a select committee in knots by just explaining free trade and a no deal brexit, clever people, bamboozled and I'm watching it thinking, I get it! They are just trying to overcomplicate it!!!
It is rather sad to see Minford in this interview. He is not what he was. I saw him speak in the late eighties, when I was studying economics at school. It was an interesting talk, and highly political. Nevertheless, he had some interesting new ideas. In the intervening years, although his discourse is still political, he has lost much of the intellectual rigour required to command the respect of his peers. Whatever your views on brexit, this interview is disappointing at an intellectual level - high on political rhetoric, with a number of inaccuracies and over-simplifications. Not helped by the interviewer, who didn't challenge Minford once, even on factual inaccuracies.
Who is this old man ? He is teaching economics ???? So why are so many things he talked about false ? I am shocked...
I suspect if you knew anything about the British economy you'd know who 'this old man' is
wallow in your pig ignorance
yesterdaywassunday I wouldn't say he's talking nonsense if any he puts everything into perspective which is easy to understand.
yesterdaywassunday he's no way false wake up