Charles Goodhart joins me to discuss why Britain’s decline did not start in 2008, why the post-war economic boom may have been a temporary lucky era and why the next 30 to 40 years could be far harder than people expect.
Charles explains how ageing populations, falling birth rates, rising dependency ratios, public debt, defence spending, climate costs and political short-termism are creating a fiscal crisis that governments do not want to admit. We discuss why central banks may struggle to keep inflation under control, why politicians cannot win elections by telling voters the truth, and why democracy itself may block the long-term planning the country needs.
We also get into immigration, housing, land tax, AI, the forgotten working class, white-collar job risk, the triple lock, why GDP does not equal welfare or happiness, why Britain struggles to build, and why the Western world may never return to the conditions that made the years from 1950 to 2020 so unusually prosperous.
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TIMESTAMPS:
00:00:00 - Massive Inflation Is Coming
00:00:54 - Britain’s Decline
00:03:57 - The Post-War Boom
00:05:09 - Decades Of Decline
00:07:14 - What Keeps Britain Afloat?
00:09:11 - Immigration And Dependency
00:11:55 - The Fiscal Trap
00:13:34 - Government Does Too Much
00:14:28 - Why Politicians Can’t Tell The Truth
00:16:39 - Are We Heading For Bankruptcy?
00:20:05 - Higher Inflation Is Coming
00:22:39 - The Temporary Lucky Era
00:25:39 - Tax Land, Not Work
00:28:08 - Housing And Fertility
00:31:30 - The Forgotten Working Class
00:32:41 - AI And White-Collar Jobs
00:36:01 - The Middle Ground Failed?
00:44:08 - Democracy Blocks The Fix
00:50:49 - GDP Is Not Happiness
00:56:35 - We Didn’t Know How Lucky We Were
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CONTACT PETE
› Website – http://petermccormack.com
› Feedback – https://www.petermccormack.com/contact
› Email – me@petermccormack.com
› Instagram – /mccormack555
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CONNECT WITH CHARLES GOODHART
› LSE / Financial Markets Group – https://www.fmg.ac.uk/people/charles-goodhart
› The Unanchored Central Banker – https://unanchoredcentralbanker.com/
› The Great Demographic Reversal – https://link.springer.com/book/10.1007/978-3-030-42657-6
SPONSORS
› IREN - https://www.iren.com/
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› Ledn - https://ledn.io/peter
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LISTEN / SUBSCRIBE
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FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
EDITED BY CONOR MCCORMACK
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