market why not. why not what's really happening to the global economy with mike's cancer or a no holds barred look at the global financial headlines. is a report on our. own which brightened. from science to impression. starts on t.v. dot com. today i'm talking to you what's robert skidelsky he's a professor of political economy and also the biographer of john mayne arcanes widely considered to be the most influential economist of the twentieth century

we'll be talking about what keynes could bring to today's economic crisis builds could ask you first could you explain to me in layman's terms what the government is doing to mend the economy and why you think it's not working well i don't think they're doing very much to mend the economy i think their policies are made things worse. the sad fact is that the british economy has been shrinking slowly almost for a year now rather like a very slow balloon and the government of been trying in one or two small ways to give it a bit of a stimulus but i think they're quite new initiatives. and it's too early to say how much effect they'll have but in general i don't think they will have very much effect and so i don't think at the moment they're doing anything very much to help because there's an awful lot of talk about. prioritizing the economy and it's

the main thing that we have to work on but then on the same time you say that not very much is being done at all one thing is that they're blaming everyone but themselves first of all it was it was the euro crisis then it was the high high commodity rise in commodity prices and so they claim that the policy of a stereo should bring about the recovery but that it's been derailed by these unfortunate acts shocks but the policy of a sterile. is basically wrong when there's a lack of private sector demand when banks aren't lending when businesses don't want to borrow when people are cutting down their spending because they want to reduce their debt when the government then adds to that sort of downward pressure on spending then it's no surprise that the economy isn't growing is does that come from an inherent misunderstanding of how economies actually work on the governments

so i do think it comes from a misunderstanding of how economies work you see i think the coalition came into office with a belief which was often expressed by george osborne that as soon as a sterile was seen to be working as soon as the government committed itself to a credible plan of deficit reduction everything else would perk up there'd be so much confidence that the economy would start growing again but that was wrong because it's real factors not just psychological factors psychological factors are very important but it's the real factors the real market that is available to businessmen that cause them to want to increase. their business and the government was shrinking the market by its policy so it could talk up the economy all it wanted but the policies were pointing in a different direction. austerity we now know hits the poor significantly harder

than the rich presumably that means that during this recession the gap between the rich and the poor will why didn't even. that's that's already happening real real incomes have been going down. because prices have been going up a bit and of course welfare benefits are being slashed. a lot of a lot there are lots of cuts in the public services and the rich are better able to insulate themselves against some of these effects for example house prices in london haven't gone down at all especially in the wealthy areas and in fact they may be going up a bit so the world of the wealthy has been well maintained but people who have relied on incomes from wages have been hit and of course there has been since the beginning of the. recession a very big rise in unemployment even more significant perhaps a very big rise in part time employment one of your colleagues an economist called

james keane has suggested a scheme that he calls quantities if easing for the public saying that the debt that private individuals have needs to be reduced under the scheme he says that cash should be issued to individuals and those with debt would have to use it to pay that debt down and those without it would have a cash injection and it sounds like a great scheme and do you think it would work that well i've suggested this as well in an article in the new statesman last week yeah that's fine i mean if you put money in that into the hands of the people. and make sure they as you say spend it in one way or another. then i think that gives a boost to the economy because they could increase their spending and therefore set up a demand for shoes and clothes and food and all the things that people spend money on and so that'll be good for business that's here. i think that's

a good idea i actually suggested that the government give every household one hundred pound christmas present time limited so they need to do something with it can't just put it under the bed would that kind of policy be popular people were constantly hearing that there is no money now i think it would be popular i think everyone enjoys getting christmas presents. and people really expect them from the government and we've seen a europe wide backlash against austerity what do you think prime minister david cameron's chances are being reelected if he continues if this territory continues if there's no change of policy if the measures that are now being proposed small or is ineffective as one thinks they may be then i think his chances of winning the next election a very very small. because i think that there won't be a recovery his best chance of winning an election in two years time is if there are proper green shoots of recovery and people can see them and they feel they're

feeling better about the economy they're feeling better about their prospects they're feeling better about getting jobs and feeling better about getting more income then i think he'll benefit from that and have a good chance of winning but i don't think anything like that is going to happen under present policy so i think their chances of losing must be very high it's a keynesian idea that capitalism is a way towards working less and having enough is the current economic crisis is a result of that so it's time that we fall off the rails well that was a very long run i mean that was a long run idea that keynes had that in the end a successful capitalism should enable people to work less. and. enjoy life more and he thought hours of work over time would shrink as we got richer but that assume that we wouldn't fall into these. holes that you know the

progress would be steady and you wouldn't have any more slumps but we're in we're in a slump we had the big collapse and at this point the priority is to get as many people back to work as possible and get as much production as you can because that full speed things along speed the road to utopia. so i think you mustn't confuse the short what needs to be done in the short run and our long run prospects one of the things that the railed against this theory is this consumerism that we've all fallen under the spell of where we have to work more to buy more to have more are you worried that more crises will follow because of the way we work and because of what we're working for it's a very good question i think we are consumption mad society and in order to go on consuming we have to go on earning money by working and working harder than most

people want to and getting into debt and then the whole machine is driven by advertising and that does create a problem it means that as technology reduces the number of jobs and yet we all under this impulsion to consume more and what how do we see things developing what should happen is that on the whole we should give up growth as the top priority. and make sure we have enough work sharing so that people can get work but not most people working forty or forty five or fifty hours a week and then another fifteen or twenty percent not working at all or only working very part time we need to sort of distribute work better among among people who want to work and also make sure there's more leisure so that people can pursue you know pursue things for their own sake do things that interest

them. and that's the way forward otherwise we're all sort of treadmill and i think. you're right they'll be more and more crises as a result of it no drama it's condell school thank you. trimmings in this tree even for specialists a voice can produce several sounds it warms but to do the means the art of throat singing comes naturally picked up like a language. a language of communicating with nature it said that's where throat singing

originates from the unions believe not only animals but also all surrounding objects like reverse forests and defense don't have souls imitating the sounds they believe assumes to capture the power of nature. was. there are special instruments that accompany the singing give gainey says there is even a legend about his instrument a gil it says it wants to leave to poor shefford who had the best horse that won every competition but jealous people killed it on the horse was revived as an instrument. or was it have stopped a fall is because of the spirit of the horse came to his dream and said make an instrument from a tree the sounding board from the leather of my face the strings. and to remember me make an engraving of my head part of the instrument he did so i called the

instrument again which means come back and this melody only instrument is called. to fly as one of the most famous groups in the republic there. next goal is to tour broad they say for you are peons it's difficult to pick up and sing so i ask them to teach me and see if i can do it. cheer it up or. share it all you. know. oh. but now to be part of the song and not the actual through thing which i wouldn't even try to repeat.

so maybe you have to be born here to be able to sing like this puzzled so until i met small she looks like a deveny and i don't even speak their language but she is from japan. most. from two hundred years ago until the hear she's not planning a professional singing career she keeps practicing just because it's become part of her nature. my parents really truly honestly believe that what had happened was as a result of my father's exposure to agent orange i was born with multiple problems . i was missing my leg and my fingers and my big toe on my right foot i use my hands

a lot in my artwork i find myself drawing my hands quite a bit to me for my hands you know just as if anyone would. but they do tell a story they tell a story of. oxen. wealthy british style sun. that's not on the times.

market why not come to. find out what's really happening to the global economy with much stronger for a no holds barred look at the global financial headlines tune in to conjure reports . the latest news on the week's top stories here in our team war looms between turkey and syria after four days of cross more bombardment let some experts fact think the rebels are trying to provoke foreign intervention to find some turkish civilians were killed during the first salvo more buy from syria on wednesday in. moscow demands an investigation after a twenty four year old russian student was brutally beaten in a canadian detention center as a doctor's remain uncertain of his chances for a full recovery. and only hours left before venezuelans had to polling stations for the presidential vote to console clearly thomas is said to be facing his

toughest challenge ever from a young democrat aiming to liberalize a country while the telecom. up next all the way sports news with richard. hello welcome to sports and a great to have you with us as always with the headlines. the russian all classico plight is strange and it's a mild sponsor and sanskrit holmes to thank. to tell somebody a shop i use is paul smalley. on the wings of world number one that i was riding her. hands of my heart i held his new club. all three of these. scum. ball one of the biggest games of the russian premier league and will get underway at little later today

response imo skoda locking horns with fierce rivals luzhniki stadium. well on sunday the spotlight will of course be taken since coney emery's side have been very inconsistent this season one the last two games in delhi where they'll be looking to get back to winning ways after disappointing three two loss to celtic in the champions league in midweek but it's a make return to the starting line up is you not to mention since we end of august with before injury i mean we all say it's come moscow's so bad for the match winning streak and often disappointing it was the nominee last weekend and to make matters worse for the army bell be right now as i go with the start of my might by after striking me my game. elsewhere on sunday league leaders on g. travel to the nama struggling near the foot of the table however have won the last two games proving who also got maximum points in my last game has done well the

champions needs travels at c. cross into their first win in four games. made while on saturday looking missed out on the chance to join on g. at the top of the russian premier league table after losing one miller home to well ok his keeper and audio chris each went out of his way to try to keep his side's goal intact public relation just failed to stall to turn out to be the only goal of the game we are monitoring mania and striker george. beat into the far post minutes left and despite the visitors losing all charm feed to a second yellow card in the final minutes because there's one side on to his former club the state for a ban rocked with. the day's basement battle second from baltimore to go via a meet with a point of safety to no robot and vulgar after eleven minutes of penalty bios one. of the visitors in front of ten minutes before the half time break. the god of

chance recall eyes started the ball over. despoiled gee could we have this we'll penalize a strike it wasn't supposed to stand for a last minute free kick your chunka gave more to no victory. points adrift. well in the late game clueless so we have came from behind the race to make sure the spoils were shared to two of the one year. scoring in charge of the home side joint top of the scores list with nine goals in eleven games the brazilians for a brace of a season was cancelled aren't. a motel as both equalized this is a point above that are known to twelve months when the champions league some petersburg. came all over england chelsea have gone four points clear of the top of the english premier league table after coming back from a goal down to be knowledge for one of home all goals from them on the top is. it

in. a lot of damage to the blues but points everton stay for this point drawing with we can. easily draw bottom keeping all three to also came from behind to win three want to waste time. being a share of the spoils champions manchester city some good for a deal. while in spain real madrid coach said i mean you expect the world to stop towards his side play it lead leaders on tribals barcelona in sunday's el classico champions realises six in the league and eight points behind the catalan giants in just six games gone in the new season but very near feels the pressure is on both sides to put on a good show. for the world's top. everybody wants a big match. and both teams. i would say this really.

have the responsibility to give the world what they will. so. but still in the realm of the. referees them they have that this recently. moving on to time in some world number two money. set the pace top rung to twenty it's not a game of fun of the china open went through in straight sets travel coming from three one down in the first sentence of the storm ali and then the french open champion never the bank securing its exports six when. front office was strong to mark last month on both at least six four six two of the russian having just had a good run of form again after beating the russians with five home court battles between the two. was that no hard didn't enjoy winning start to his cage hell career as his left side were on the wrong end before free for ilagan cultural skansen petersburg the russian outfit one or four games against their opponents from the last season and they wasted little time taken to be initiative here ten

minutes into the mind should be ready to arm goals from until the boss of the need to teach one of. the hosts full back to level to make it to to the falling behind again in the second period live made a free goals of peace for things the appropriate places after that but scars of. retreat with time running out for free for call his team is how it ended. elsewhere on saturday in a cage showing beginning my own kid was on the losing side is going to be the cool side to the heavy defeat in no because me as well buddies on the other got almost one of the road. but it's been three weeks of course since the n.h.l. lockout was announced well since then the continental hockey league has been growing stronger and stronger with the world's biggest stars moving across the ocean lotty bring some of the most spectacular moments from the cage show that i had to offer over the last ten days.

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