that's taken over them. and what is this visceral fia that emerges as soon as growth starts to go away. and he says often one of storm kindness garnished gave a while to be defined as a dimension the of it was not a levels you didn't talk vax storm in the us. culture guy built us facts them style gets built out sucks them in spine and i see

him in his eyes the audience votes outfox them and what is being though is just the politics just senior level of excellence to button them and up and and because if not. the d.m.z. politique we can come one that's at least 2 steubenville bellowing but of a fickle. is along his mention of the planet and keep to do with mizuho vip box to win a huge how does faith in the one up in the above you just read off. where does this unshakable belief in economic growth come from. is it always been there. is a drill a part of human nature. it was through a dangerous and imaginative use of mass production methods but there was

a lot there was able to perform much more time marable to build more planes at all the united nations put together to turn our ships at the rate of $200.00 a month ships which carried overseas beyond might of the united states to decide the outcome of a war. the success story of economic growth began during world war 2 mass production of tanks and aircraft let the american economy out of crisis the output of military equipment was now calculated by a new statistical measure of gross domestic product or g.d.p. if production i.e. g.d.p. grew and so did prosperity americans believed so firmly in this new formula that they compelled their allies to bring the economic policies in line with it from then on it wasn't people's incomes that counted it was only growth and it turned out to be such a useful measure actually for the war effort and for understanding the war effort that off towards became the single most important policy number.

across the world it kind of symbolizes progress to us sort of says while things are getting bigger so they must be getting better that was the us of the g.d.p. . in the 3 decades after the war the western economies grew up to 8 percent and in the u.s. they called it the golden age of capitalism in france they were the 30 glorious years in germany it was the economic miracle an anti generation enjoyed material prosperity and full employment and this became engraved in the collective consciousness even though these high growth rates were only made possible by massive wartime destruction the believe in growth was now unstoppable. g.d.p. became the most important benchmark in history. and the economy in the grace of economy was doing

a good job force when when we were young if you like when as an economy as a society we were young and one of the really important things to say is that there are some societies where that is still necessary where you still need that growth where you still need food clothing and shelter whether very very poor undernourished people living on less than the price of a skinny latte from the cafe downstairs and that's why that's a situation where growth makes some sense. but the idea that as human beings all we want is more and more stuff doesn't really stack up so after a certain point you have to ask yourself well how much is enough how much how much more do i need to grow the economy to satisfy human appetites. the 1970s so our growth rate sink for the 1st time due to the oil crisis and other factors the boom was over the market set your rate its western economy stagnated millions suddenly found themselves unemployed it was uncharted territory. for the

1st time the limits of course became visible economically socially and ecologically . we do have some understanding about groet. in 1982 a group of scholars commissioned by the club of rome presented a report in washington and titled limits to growth using a computer simulation researchers at mit have calculated for the 1st time what continues economic growth would do to the planet's they're finding set off alarm bells around the world when resource consumption is doubling every 20 years for the 1st time people were confronted with the fact they can only grow it could also have negative consequences and that the planet's natural limits would soon be reached the success story of growth was in crisis we've reached levels of prosperity which carry the seeds of disruption and necessitate

a complete relook at the whole world social political and other situation. the top of rome report sold 30000000 copies and became a global sensation. and yet soon this cause themselves came under attack their calculations ready tried as irresponsible fear mongering because it's impossible to admit the end except. the success story of growth must continue. unfortunately many of us called us predictions turned out to be right and in many cases reality even surpassed the bleak predictions. as the cover for all reports was causing an international uproar the brazilian rain 1st in the amazon basin was doing nearly untouched the huge brazilian state of much of grosso largely populated by indigenous people consisted of forest and 70 today

not much of that is left since the mid eighty's progress aided by international investors has been eating away at the rain forest 35 football fields of forest disappear every minute it's been the same story over and over again lumberjacks moving 1st. thank cattle breed us and finally the starving parents. along that last. misquoting of one point containing as the insignia you on the nail your. aesthetician on what ought is known given the pledge government and i. believe school fairly but as the leader of being their god but on knowing that god is following us and you eat their own there is the society and i am the ia wars are the dance of the fuzzy and the keep thing there. was stamped there has

there. been as good as society as bill de gea of us both them slide plimpton the meal you meant them to mean by you. must or known as the last when you see a pick your cup down must own all who are going to wash. them are. gap is there viii god don't keep pasta. though the cess the glue she has been infused with the sediment you cut off his producing mice. the tropical climate and then the $3.00 to $4.00 hard to spray year and with that massive profits soy and corn for export an animal feed. i mean $163.00 is the gateway to the amazon basin at the end lumberjacks money and destruction into the forest. today countless trucks lined the agribusiness highway transporting their valuable cargo to the international port. they pass an endless

sea of soybean fields enormous silos and slaughterhouses to one of the largest regions in the world growth rates of up to 20 percent a business. and the savage beasts this region it was just lived by indians it's just amazing forest. 3040 years just off colonization and it's the most important region nagra business off the country. it's just right place to make new investments to make money. c you carol a good part exported to russia china and in other countries. do

you see any limits no limits of the disk i have and the limits. in response to the crisis of the seventy's economic policy underwent a change of course new growth had to be followed no matter what the cost even if that meant only seeing the prime influences of china's capitalist. these have been contained after world war 2 because there were hundreds of the great depression and the war itself. monetarism was a new magic word. among them was the idea that if you put more money into the economy liquidity it was cool that additional money in the economy would help

really best that would help give us more production that would allow us to consume more goods and we would get growth back again so this little hiatus if you like in the seventy's primarily caused by the oil crisis led to a transformation in the economics of our society and in particular how we think about right now we think about stimulating growth i. governments deregulated financial markets banks insurance companies and investment funds going to influence and we're now allowed to gamble with currencies stocks even with people's retirement funds capital was that lose and the financial sector was flooded with my. it was a pact with the devil and the beginning of the slow process of self disempowerment

in exchange for growth governments relinquish the power to financial markets but who do we mean by financial markets and capital and what does it all have to do with us. the group is europe's biggest insurance and one of the biggest players in the global financial markets. it's been fun filled 600000000 oil different from 400000000 for the leaves so see shown at 100000000000 for the software c.e.o. in the leaves so say showing leading via the foresaw good ones o'quinn 9 fisty she went on my country to so for stay in. the us via some us bit of figure one inch on base you think you want and backs up to a little finzi a party for mukesh cotton and the same box to pot it's a peon so my spirit box in investments invest its own in it will be in an

infomercial to investments in autobahn and would literally 0 in a molly to take. the summer was more of a positive closed in china therefore also a show although some kind of one of growth. in the developed markets in europe and us. they also know new light wants to be seen which we could never knock to a finance if i feel what's in it. if you puts and i missed and via so going to invest he that bahais visteon acts in him obedient it's at the law. as a given in the token fini gano ponding mia in didn't shred and then he can and then who will this fax to mean decent and none mukesh who will have to knock and and evade it and the talk to his sister to miss the trick is to stamp it

door to push it into over the toilet i knew it was an invoice spent 9 as ish much to me i'd have it torn effects from the forst. thank you sandy 6 a gothic anointed aiyana wilma's he felt he could touch up the subjects to a cold case for cough buys thank god to see one i thought to assist a little as full cost beyond. the one of millions of insured individuals it's sent on its way to multiply when andre has group as a team has a rough idea to which countries and sectors the billions that flow they hire an asset manager he determines what stocks or bonds to invest and. most of our clients are institutions what they want is they want their their money invested in the capital markets. our customers expect their capital to be

returned they want their money back and they want to return on that game and the moment there is another agenda. well why i'm commander just 1.2 trillion euros obviously it's and in germany we're managing 490000000000 euros of a sense of. the financial markets they have a social role in distributing people's savings towards investment and that investment is usually a form of debt so when you get you take out a loan for example to buy a house that line could end up in a bond and we could end up buying that phone so growth is important so that individuals and companies who borrow money in the capital markets can actually pay those lines back. off of this free trade when he said 20 just. imagine a world with 0 growth that's

a world in in which pretty much everything gets frozen if you haven't got a job in this new world with no growth bad luck. you're going to have to wait for somebody to retire before maybe you get their job . a society without growth probably won't work at all. not for long it would be jerry and to collapse. without growth societies would descend into chaos according to the financial and political elite. but is that really the case isn't it rather the blind faith in growth that leads us to chaos. in the eighty's the world of finance operating from the city of london and wall street increased its influence and governments and societies and became the driving force of capitalism

today financial markets not governments determine their wellbeing of enteric countries. how did it come to this how could financial markets gain such influence over our lives. one person who knows the financial world better than almost anyone this year at college for nearly 30 years he was a successful fund manager on wall street and in the city of london. no never once beautiful mind you i was a scientist and i've been offered 20 times in pounds to go and stone wall street in 1008. and i was one of the worst i was the beginning. and we went into the new era of reagan thatcher and liberal trade the so-called big bang in the city was all about financial deregulation let's go let the market decide and let's hire people and let's see what happens yes i suppose this is

really kind of controlled out here which we've had before and it was that we walked into where money now talks now money wins and you need people small people to trade the markets and make finance the powerhouse behind capitalism which is supposed to be. the plan seemed to work the stock markets built roads no longer needed to be financed by increasing wages and tax revenue now it was all about credit governments and individuals whether to take out loans from banks and investors. so that they could be good consumers and thus generate. credit cards come along overdraft so to use lending for houses becomes widely available and it's at that point that explodes. that now it's not just the very

wealthy have access to all these things consumerism is now people lower down the income scales as well and if you look at money supply in the in supply credits in the early eighty's it just explodes. has been access to consumerism and promotion of current consumerism plus debt which is critically growth created the way we are today. the cold logic of the market took over producing winners and losers. one of the people who knew best how to profit from this new logic was donald trump . i really think i have an instinct but i don't think it's the.