tv [untitled] October 7, 2012 6:30am-7:00am EDT
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. today i'm talking to north 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 of made things worse the sad fact is that the british economy has been shrinking slowly almost for a year now rather like a very slowly leaking balloon and the government of been trying in one or two small ways to give it a bit of
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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 stir it to should bring about the recovery but that it's been derailed by these unfortunate acts shocks but the policy of a stir. is basically wrong when there is a lack of private sector demand when banks aren't lending when businesses don't
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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 government's part 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 spirit 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
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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 it hits the rates presumably that means that during this recess and the gap between the rich in the poor why didn't even fire. that's that's already happening a 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
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may be going up a bit so the worlds. 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 quantity as 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 it sounds like a great scheme do you think it would work 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
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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 yes i think that's a good idea actually suggested that the government give every household one hundred 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 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
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is in effect. it was one thinks they may be then i think his chances of winning the next election a very very small. because i think 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 go about getting jobs and feeling better about getting more income then i think he'll benefit from that and they're there 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've fallen 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
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a successful capitalism should enable people to work less. and 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 that 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 long run prospects one of the things that the railed against this theory is this consumerism that we've
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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
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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 among people who want to work and also make sure there's more leisure so people can pursue you know pursue things for their own sake do things that interests 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 dramas condell ski thank.
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you means in this story even for specialists how a voice can produce several sounds it warms to doing is 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 even stones of souls and by imitating the sounds they believe assumes to capture the power of nature. there are special instruments that accompany the singing give gainey says there is even a legend about his instrument a gill it says once there lived a poor shefford who had the best horse that won every competition but jealous
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people killed it on the horse was revived as an instrument. or was it of subtle is because of the spirit of the horse coming 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 is one of the most famous groups in the republic their 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. share it oh you shared
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a lot of that was sure to say kenny out who was to take gang are oh. but now it is the and moody part of the song and not the actual throat singing which i wouldn't even try to repeat. so maybe you have to be born here to be able to sing like this i thought so until i met she looks like a deveny and i don't even speak their language but she is from japan. most says to heart and mind that you come from two hundred years ago until sappy here she's not planning a professional singing career she keeps practicing just because it's become part of her nature. i've.
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lived. under. latest news and the week's top stories on odds and war between turkey and syria after four days of. suspecting that the rebels are trying to provoke foreign intervention five turkish civilians were killed during the first salvo of mortar fire from syria on wednesday. moscow demands an investigation after a twenty four year old russian student was brutally beaten in a canadian detention center doctors remain uncertain chances for a full recovery. and of venezuela people are heading to the polls to the cost of their presidential votes the current socialist leader. said to be facing
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a challenge ever from a young democrat to liberalize the country's oil any. time now for sports his richard. welcome to small state good to have you with us that was. the russian el classico pride at stake as the two rivals. go. they. were being touching distance boston that's when japanese. were going to lead us to a long time of. money a shot of all the easy. china open final against the world number one victoria azarenka. and one of the biggest games of the russian premier league calendar will
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get underway a little later today with sponsored moscow locking horns with fierce rivals at the luzhniki stadium where the emirates side has been very inconsistent so far this season however the last two games might leak but well be looking to get back to winning ways disappointing for the two loss to celtic in the champions league during middleweight. trying to balance a good make a return to the starting line up but it's a man's been out of action and spending all this way before my injury. meanwhile say. so before winning streak for a disappointing two no loss at the moment last weekend and to make matters worse for the army men they'll be what aren't allan's a go with his top five on the striker who will not gain. elsewhere on sunday believe leaders on gee they're on the way to. sitting side by word used to ten men only nine minutes from the most received his marching orders.
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and alexander got caught in all variants of a second home and it's currently off to fifty seven minutes meanwhile being healthy looking to make it free. wins from free this time card while the reigning champions you need some petersburg troubles at sea cost and are looking for when you first win in four games. over in england munched united will try to find spine from bad if he told them if they take on new council spurs in turn will be looking for one of the rovers great responsibility elsewhere a little poll talk test in stoke city full of trouble struggling times and. in spain real madrid coach was about you know expects the world to stop towards his side play at league leaders and on tribals barcelona and sunday's all classic champions ryall sakes twice in the league and eight points behind the catalan johns were just six games go in the new season but marino feels the pressure is on both sides to put on a good show. that will stop. every mother wants
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a big match. and. i would say the street dealers. have the responsibility to give the world what the will. so. but still in the realm of the then. the referees them they have the best possible. to formula one where reigning champion sebastian vettel moves within just four points of a number long so the overall standings stop a victory at the japanese grand prix the german stars in the race from pole position this red bull was dominant for coming and twenty seconds ahead of ferrari's believe. come or you kobayashi of sour cream at the mclaren jenson button hamilton teammate oakwood only come home and nine year olds control of the car at the start of the race things more much worse for the overall leader fernando alonso
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had to retire after crashing a person out. of a society overall standings look so the reigning champion vettel is within striking distance of a long list of german moves that will be of the third driver's crown in a row but it's not lead to standing so far this season just four points behind the spiny it's just five races to go. with the tennis world number two going to show up at the very start running to be told as an incredible final of a china open opera bouffe one for in straight sets. coming back from free one diana per se it's because the local small gnarly a member french open champion never looked back securing six for six when. shrugged off the slow stance when it lost money on the six four six two russian will be looking to extend a good run of form again sure up over after beating the russian the last story of hardcore battles between the. world number one novak joerg of age has won the men's
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final of the children open on that point hard to take per cent of the time break but the serve plan was going much easier in the second taping at six two names for the title of the season so far. for general charge didn't enjoy a winning start to his carriage career since left side on the wrong end of a four free frill are going to be a couple short skansen petersburg the russian outfit won all four games against their opponents from prague last season. they wasted little time in taking the initiative here ten minutes into the match and they were ready. to go on the bus of the big to keep enough however the hosts for bank to level to make it two to fall in behind the game in the second period live made it free goals apiece in the first instance got the plate this. scars. will decide the tree time running out for free because his team is how it ended. well sorrels how
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do you give me my weekend was on the losing side this bloodline was a goal six which i had been defeated not because now it's nice i'm out of not all but one of the road. well it's been almost three weeks since the n.h.l. lockout was announced since then the continental hockey league has been getting stronger and stronger with some of the world's brightest stars moving across the ocean well to bring some most spectacular moments from ok but it's had to offer over the last ten days.
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coming up like this seems. to crave something high. when you reach the peak. to do whatever it takes to get all the talk of the world on our teeth. while. telling us. offers an air show and an issue. doesn't matter you. the resident never profited from the performances you'll see him coming our signature trip there when you look up and there's one captain on you his alpha beta
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