some western media arrives that breaks is not really a economic. association but a political union do you think it does should brics play a more important role in the international arena should it affect international processes or does brics not new. this role and what should we expect when russia is president. look i don't agree that about people remember only when summits take plays i've already said that brazil and call the cops worked on the preparation for the summit for a year as there were a lot of the advance a lot of courage some were achieved regarding some key directions and i think you not is that we were talking about briggs being an organisation that is a certain factor. not only in politics but in the world economy too because of advocates. open markets. and the gates against any protectionism and so on and so forth just read the document that we have and doris and in these sand side think a play is a stabilizing role and. as for playing a bigger role and having more importance then we're not trying to rush things we're not turning it into some

restored to those affected in this power shutoff (pam) a new survey is shedding light on the economic costs associated with the public safety power shutoffs. (ken) the sonoma county economic development board asked people to weigh in on how their business was affected. grant lodes is here with the results... grant? (grant) yeah ken --- pam... the data -- comes from a county-wide survey..conducted about the october 9-th power shutoff. more than 550 businesses responded. the preliminary estimate of economic loss --- 50 to 70 million dollars. the majority of respondents were in santa rosa and sonoma. and nearly two thirds of them say they lost power for more than 48 hours. the industries hit hardest include finance and professional services...followed by retail...and food services. businesses say they saw a variety of impacts. some experienced extensive loss from being closed for two days. others saw an uptick in business on an otherwise slow day.(grant) respondents also weighed in on what said they thought would help when there's a shutoff. among the responses -- clearer maps...more communication..and e

so i coined the term narrative economics for my presidential address before the american economic association in 2017. i called it narrative economics. i presented this to an audience of 900 economists. i was faintly critical of the profession right to the profession that their annual meeting. i said why is it that we don't study the stories that people are telling. stories that go viral. it's just not in our tool bag. they don't generally rude people but i was afraid of it. nobody booed and they applauded at the end of my talk so that in holding me to write a book about it. so the term narrative economic actually does go back over 100 years. it used to mean economic history. he would tell stories, chronologies about maybe a financial crisis. in this first this banquet on than that banquet on and then follow the parliament went to decided to do this or that this just a sequence of events. that's not what, i mean. narrative economics is the study of popular narratives. we got to troy to get into people his thinking. people don't tell you what their economic model is. if you ever had a dinner c

i gave it before the economic association in 2017. and i called it narrative economics. i presented to an audience of 900 economists. and i was faintly careful of the profession, right to the profession of their annual meeting. i said, why is it that we don't study the stories that people are telling. the stories that go viral. it is just not an art tool bag. and i was afraid i get booed. they don't generally move people. but nobody bowed and they applauded the end of my talk. so that enabled me to write a whole book about it. so the term narrative economics actually does go back over 100 years. it used to mean, economic history, you would tell stories and the chronologies about really a financial crisis. he was a first this banquet on epic weather. an argument started to do this with that. and it's just a sequence of events. and that's not what, i mean. narrative economics is the study of popular narratives. we do is try to get into people news thinking. people don't tell you what their economic model is. have you ever had a dinner conversation we discussed economic mod

he says this in his remarks to the american economic association. it is true that lower interest rates, you spend less money paying interest and also they can probably sustain higher levels of debt. that is true. it is true that if the economy is growing, if the growth rate is higher than the interest rate over time, as long as you're in primary balance, and primary balance means the revenues coming in are enough to cover everything but interest. if that is the case, and you make those other assumptions, then you can deleverage over time without paying down debt. that is not the case for the united states. we are way out of primary balance. a couple percentage points and more low primary balance. it is relevant for a lot of countries, but we are talking primary balance and it is not that close. >> when we met informally sometime ago, the thing that impressed me about you is your recognition that things are changing rapidly and it is tough to make policy in that environment. i love the light in your statement that says we are not on a preset course.

>>a new survey shedding light on the economic costs associated with those public safety power shutoffonomic development asked people to weigh in on how their businesses were affected. our grant lotus's here he has the results grant. >>well, pam inc and the data comes from a county wide survey conducted about the first power shut off last month, the one that started october 9th more than 550 businesses responded people want their voices heard here. the preliminary estimate of economic loss, 50 to $70 million the majority of respondents. we're in santa rosa and the city of sonoma and nearly 2 thirds of them say they lost power for more than 48 hours. he industries hit hardest include finance and professional services. that's followed by retail and food services, businesses say they saw a variety of impacts experienced extensive loss from being closed for more than 2 days other saw an uptick in business on an otherwise slow day just depends on your business. today we spoke with a member of the sonoma county tourism department who said the community needs as much support as it can get. >>

an expert in joining me in the studio is a mix of the shares he's a research associate at the german institute for economic research also known as the dia w. so you constructed a study on the impact reunification hot on the economies in the 2 germany's how divided or how united is germany now in that respect well i think we came a good way to being united. there's still a gap and it's. it's a considerable we talk about the betting on the indicated 30 to 20 percent in terms of for instance productivity so there's still way to go what is the biggest problem well essentially we have completely different structures to some degree we have a very rule east and we have as a west that is much more urbanized or even you know very urban areas and we know from you know from research that urban areas and firms in urban areas have a higher productivity so. to some degree real little bit compare apples and oranges when we say ok the east must be like the west because it's a rule area very next verse and there's no be nice area exactly but as you said we have rule areas in urbanized areas in both sides if there is signif

it's the economic activity associated with apple.e's navigating these waters remarkably well many other ceo's can learn from him. >> thank you very much >>> up next, we're going to go live to the l.a. auto show where it seems everyone is going electric phil lebeau is there. >> i was told by your producer that she likes blue. how is she going to like this color of blue. check this out this is a new porsche all electric, it's getting a lot of attention today. we'll talk with the ceo of porsche about their electric dreams when power lunch returns. [grunting] [maniacal laughter] gold. gold! right, uh...thank you, for that, bob. but i think it's time we go with gbtc. it's bitcoin exposure through a traditional investment account. nice rock. it's time to drop gold. go digital. go grayscale. geico would like to take a moment to say thank you to our military service members at home and abroad for all their hard work and sacrifice. we all sleep easier knowing you're out there keeping us safe. and on a personal note... sfx: jet engines ... i j

and the economic association, lower interest rates, you spend less money paying interest and can probablyustain higher levels of debt and it is true if the economy is growing if the growth rate is higher over time, primary balance means revenues that are coming in our enough to cover everything but interest. if that is the case and you make other assumptions you can deal ever over time without paying down debt. that is not the case for the united states. we are a couple percentage points below primary balance. it is relevant for a lot of countries but right now we are not in primary balance and it is not that close. >> some time ago, the thing that impressed me most about you with your recognition that things are changing rapidly and it is tough to make policy in that environment. policy is not on a preset course and don't think it could be. one of the things i am obsessed with, ranking member and other members heard me say this a number of times, the increasing pace of change. a few months ago the chief technology officer from microsoft made the statement over the next ten years we would

a global economic analyst and associate editor and global business columnist at the "financial times" and also from the international monetary fund and one of several who analyzed and vetted warren's medicare for all plan. good to have you both with us. first, a number of things we want to understand on the plan. doing our math right, companies would be paying more as we learned under the plan. pew research shows employers currently pay about $3 trillion for health care for more than half of american, but this plan, under this plan, companies would pay nearly $9 trillion. a pretty significant jump. >> i'm not sure i followed you on the numbers. employees do pay already substantial amounts in contributions to health care plans that are employer-sponsored insurance. under this plan reduced slightly. that's in contribution to health insurance directly paid by companies. it is true there are other taxes on wealthy individuals and on corporations particularly multi-national corporations that don't pay a lot of tax now and manage businesses internationally to reduce the tax burden. yes, a t

can afford to get even richer joining us on skype from prague now is peter ganci is an associate professor of economics at charles university in prague us to have you with us peter i think maybe let's start with for anyone who is not familiar with f.b.i. foreign direct investment maybe just give us a broad view of why it's so important to the way money moves around the world so far lurking best known or if he is an investment that comes across borders well then one company involved emotional corporation so you can think of any multinational corporation and how it makes investments it was brought us and that's at the time he said there it is big and it's been increasing over time it now accounts for if you compare it it's as large as a heart of the world's total of g.d.p. there is increasing and we know it's large but we also know that much of it is not driven by real investment but by tax avoidance by these multinational corporations ok so that is our issue here and that is i think the issue that a lot of people have around the world this idea of basically dodging taxes we have to point out that compan

well, joining me in the studio now isjo michell, who's an associate professor of economics at the universityt is jingye trying the uk isn't the most economic. what isjingye trying to get out of this? they already have a steel industry. 0n the face of it, the reason for the purchase as the products made in scunthorpe are different than the ones made in china. they produce longer, reduced shipping. so on the face of it is about portfolio, but i also think it is about expansion into international markets, higher value added products and technology. soi value added products and technology. so i think there is a short run and long—run picture. so i think there is a short run and long-run picture. we have had concerns in the past of china dumping cheap steel on markets. with a chinese company now buying british deal, what does that mean in terms of competition? it shows that the chinese buyer thinks that steel made in scunthorpe chinese buyer thinks that steel made in scu nthorpe can chinese buyer thinks that steel made in scunthorpe can be competitive, it has a edge over other product in the worl

jumping into the finance industry could offer many potential benefits such as promoting associated gains in economic activity there are also some major risks involved in addition to consumer protection some analysts point to big tech companies utilizing data from their existing platforms some say this could spark rapid change in the financial system ultimately reducing competition in los angeles and just suites are. a lot of red arrows on the board today as why growth remains elusive despite continuous attempts by the central banks to intervene let's see how we ended up to start the most ended the week down as g.d.p. growth of 3rd quarter came out 1.7 percent below the ministry of economic development early estimate of 1.9 percent growth was mainly supported by agriculture in my knee and there is concern that economic growth over the next few years will be impossible without new capital investment over in shanghai the composite fell on friday to end the week lower with the country's blue chip index posting the biggest weekly decline in more than 3 months amid uncertainty around the china u.s. trade

well for a bit more insight on this we can now bring in live kevin cashman who senior associate at the center for economic and policy research in washington d.c. kevin thanks for joining us let's head the oas claimed that the election in bolivia was mobbed by manipulation and irregularities and it did recommend a rerun how do you view the organizations role in this crisis. it's definitely been very controversial and i think what your viewers need to know is that there's 2 ways the vote is tabulated and believe there's a quick count which is supposed to provide an election night result that's preliminary and there's the official count which takes a longer time because they have to count votes all over the country. so all this started when the oas basically took issue with how the blues you know what oral authority suspended the quick count. and they said that what they were doing was you know not transparent and. the media basically conflated this quick count with the official count and said that they were altering the election results but when you look further into it we have found that the blue van or to

president xi can make it happen i know he'd like to make it happen >> and we're joined by an associate professor of economics. thanks so much for being with us if not much is achieved in that phase one deal, what is the point of it? >> it is kind of like a phased deal both sides can say that they made some progress it is a big gift for president trump because we've seen the stock markets rally. but the phase one deal is really about the negotiable stuff in the first place. the more difficult nonnegotiable items are put back, delayed, and we don't really know what will come out of that so unless old tariffs can be rolled back for china, it can't really be seen as a victory for them >> this is just about perception then this is retail investors seeing the stock market rise and trump being able to say we're getting there, we've made some kind of a deal does it matter from the chinese perspective when you talk about the domestic coffntext? >> in china it is really about the real economy, but the items that have been xwoeaeeen negoti including ip enforcement and opening up financial services to foreign companies,

aside 75 billion for the planet came into force after world war ii when housing associations were built to high economicse and is back to 1980s level. amongst 1980s —— young people, it is dropping even more. there is a lack of security and often exorbitant rents. the person that funded —— founded the nhs, council held —— cancel housing was known as part of the ministry of health back there because it was so important to people's health. he wanted to recreate, he said, the lovely feature of the english and welsh village where the doctor and the butcher would live alongside each other rather than council housing being seen asjust reserved for those in poorest circumstances. it does happen more in london where housing is, in many parts of the city, more mixed, perhaps less so outside the capital but housing is seen as a failure across all parties ina seen as a failure across all parties in a way. every party talks about it and then seems to have failed once they deliver —— failed to deliver what they are in power, certainly to the extent it requires. it is not just one group of people, i don‘t think, all t

a social -- association for economics. thisnot finding particularly illuminating yet because none of this is crystallized. i come out of labor. i worked a lot in the space relating especially to how this might affect the heartland kind of communities and so on. some republican friends seem to be at least open minded about climate. i wish the republican party would take seriously that the climate change is an existential issue and it therefore needs a across-the-board government states,civil sector, commitment to this thing and not worry about whether the federal government can come in in black helicopters and take it over. because i think that is absurd. this towardsoint kristin because to what extent do democrats and candidates talk about just transition. i worked on that issue myself. is a mile wide and deep on this stuff. to what extent do you think they are ready to be more realistic if they do want to win the heartland. i don't think unless they face us they will win the heartland. i want to kind of get more your sens

big thing e is the about the economic losses associated with that.rought he public have in generators for businesses but they have also been hit with their generators are not al e.p.a. approved to be used in the state. o, the utility companies are kind of in a no-win situation, no-win ieve is in a tpho situation. -- it will ill take take time for the improvements hey are doing to take hold so the power safety shutoffs will happen less often. headlines thishe morning, robert roper, "wall street journal," fires are market for e insurance in california. dollars there headline that touched onhether you fire dangers worsening over the years. wilds citing building near lands, dense forest and dried by warming and with raging fires high winds and california is living a disaster movie. new normal? is it going to be the new normal, mr. roper? guest: i wouldn't say it is going to be the new normal. what people are seeing now is that california and always he west we have had wild land fires but they have been localized. but over the past three years as dark ve

candidate and former member of parliament in oxford in england rise ish binnacle associate professor the london school of economics he's also the author of nationalism development and ethnic conflict in sri lanka and all skype from singapore russian a cup or research analyst at the institute of for south asian studies. of the national university of singapore or warm welcome to you or a receiver how was was a pax as credential as war time defense chief this size of in winning the presidential election well i think roger clark so obviously was very popular in this election because of his record as defense treaty not least because it seemed that the security apparatus that broken down with the appalling attacks that we suffered in. april this year when it seemed that because of the government really ignored the warning supplied by a lot of people including the indian government but i think it did more important that as he said if the chief is going to concentrate on efficient feet. and reduce corruption because one of the biggest problems this country has faced for a long time was the failure to develop economically

. >> and they just had a summit in ukraine in july, where they talked about the associated agreement on economic integration between ukraine and the e.u. and they also had a discussion about the illegal annexation of crimea and the blocking by russia of the ukrainian sailors that came out of the as of c and were captured. those have all been issues that would have been in your portfolio and were consistent with the e.u. issue. correct? >> we work closely with our e.u. partners. >> you had to work with france, u.k., and germany, all of which had different ideas of this. investors to the ukraine, france, germany. correct? >> yeah. did you say they all have different ideas about these issues? >> some of them, yes. >> mostly there is a consensus. >> you have to work with an ngos, nongovernmental organizations, niche about human aid, trafficking, and even hiv/aids. right? >> yes. speak out you spoke at several ngos while you're ambassador to ukraine? >> yes. >> the u.s. ambassador to the e.u., they would have under their portfolio aspiring nations to the e.u. with a not? >> yes. >> e.u. ambassador go

with me is the author and broadcaster, john kampfner and associate director of the right leaning think—tank, the institute of economicady in. according to the the daily express, the queen has thrown her support behind prince andrew, despite widespread criticism over his tv interview with emily maitlis. but the daily mail says leading businesses and charities are beginning to desert prince andrew over his links with jeffrey epstein. the times also reports the future of the duke of york's main charitable project is in jeopardy. and it carries a chaotic picture of some of those caught up in tear gas — fired by police in hong kong. the guardian also carries a striking picture of the protests, as well as reporting a warning from nhs leaders that hospitals

addressing the economic and social corses associated with persistent localized distresses requires adequate reporting as it is essential to addressing the causes and costs of economic distress for workers and their communities. i urge my colleagues to support this amendment, to help ensure we have tools toup lift every community across the country like mine inch yield back the rest of the balance of my time, r. chairman. the chair: does the gentlewoman reserve or yield back? ms. tlaib: i reserve. the chair: the gentleman -- for what purpose does the gentleman rise? >> i wish to claim time in opposition though i'm not opposed to the amendment. the chair: the gentleman is recognized. >> republicans unanimously voted -- we will not support the bill on the floor. this amendment is a fine one. this amendment, along with so some other amendments made in order, as i understand it they made in order 19 democrat amendments and two republican amendments so quite a ratio. but i think there's a point where additional reporting requirements and other mpdates can burden and agency with diminishing return

direct yes and they just had a a summit and ukraine in july where they talked about the associated agreement on economic integration between the ukraine's and the e.u. and they also had a discussion about the illegal an accession of crimea and the blocking by russia of the ukrainian sailors that came out of the as of c. and that were were captured those would have all been issues that would have been in your portfolio and that were consistent with what the use issues are correct yes we work closely with our e.u. partners in addition to ukraine you'd have to work with france and u.k. and germany all of which you have different ideas. the ambassadors to the ukraine of france germany in fact did you say they all have different ideas about these issues some of them yes. but mostly there's a consensus you have to work with n.g.o.s non-government organizations on issues that we heard about legal age human trafficking building democratic institutions even hiv aids right yes you've spoken at several n.g.o.s while you were the ambassador to france yes now the u.s. ambassador to the e.u. they would have under the

with me is the author and broadcaster, john kampfner and associate director of the right leaning think—tank, the institute of economicffairs, kate andrews. many of tomorrow's front pages are already in. according to the the daily express, the queen has thrown her support behind prince andrew, despite widespread criticism over his tv interview with emily maitlis. but the daily mail says leading businesses and charities are beginning to desert prince andrew over his links with jeffrey epstein. the times also reports the future of the duke of york's main charitable project is in jeopardy. and it carries a chaotic picture of some of those caught up in tear gas — fired by police in hong kong. the guardian also carries a striking picture of the protests, as well as reporting a warning from nhs leaders that hospitals are so short of doctors and nurses that patients‘ safety and the quality of care they receive are under threat. according to the financial times, borisjohnson has shelved a proposed cut to corporation tax in order to free up £6 billion for extra spending in an election move that signals the government's willing

economic. that is the argument from the residential landlords association.ant to be in it. if they could not make money, lots of landlords would want to sell their homes, which ironically could make home ownership more affordable. these are labour's proposals to tackle this. the landlords don't like it and the conservatives say it could end up with higher rents. labour say it could end the problem of unaffordability and insecurity. let's take a brief look at some of today's other election news. the lib dems say if no one party has a majority after the general election, their priority will be to force a people's vote on brexit. the lib dem treasury spokesman chuka ummuna said the party was best placed to take seats from the conservatives. he also criticised the labour leader's neutral stance on brexit and said it was right for the lib dems to offer a remain alternative. so i simply do not understand how any political activist in our country can be neutral on this, like the leader of the opposition. and i'm proud to be led by a leader who is resolute in saying

they have these economic indexes i think heritage does one and different associations do these they all pretty high. you have to know whether they are socialist or not. people own their own houses. it's a massive welfare state but it's not socialism. >> it's welfarism you brand it. >> walk us through the distinction between welfarism and socialism orders our country fall? >> i think it's continuing. if capitalism is here, socialism is here we are sort of in the middle but maybe a little more toward the capitalist side. we are a little off the center toward capitalism not way over by capitalism. in the great deal of governmental controls and governmental involvement. >> you essentially write a plan to reform social security tucked into the book. >> right. >> in the spectrum of things, that's where we are. as far as his scandinavia socialist or sweden socialist? there's a quote in there from von mises and von mises said in talking to one of his students he said, if you want a real quick definition of one thing that is required to be a capitalist nation he says having a private stock marke

great leadership in this great city and the supervisor, the office of economic and workforce development, castro merchants associationwe have a great city and a great community. and so it's my job and all of our sa san francisco police department officers that you see here, to give you some reminders to stay safe during the holiday season. as the mayor mentioned, we've made a lot of progress in our park smart campaign, because one thing that we want to do is not make it easy to be a victim. we want everybody to step back and have a good time and do your shopping and enjoy your families, but don't make yourself an easy target. so there's a couple simple reminders. first and foremost, if you are going to shop, you probably are going to have packages and bags and all this great merchandise. make sure you don't leave it in your cars when you go and dine afterwards in the 49, make sure you don't leave it in the car to make it easy for somebody to take it to you. one of the simple things in crime prevention is don't make yourself an easy target. so lock your cars, don't leave anything visible in your cars. if you have merc

public policy in the department of government at the london school of economics we also have alan wager who is a research associate at the u.k. and changing europe policy think tank and we have sonia panelled author of just boris a tale of blonde ambition sonia was also the former deputy to parse johnson at the daily telegraph a warm welcome to you all now we've just outlined some of the major commitments in both parties manifestos but i did notice that the labor party's manifesto is about well nearly double the length of the tory party is manifest or and i always feel like boris johnson would have wanted to have just handed out leaflets that said bricks it get it done sonia how much of this election is about bricks it. well i think it's all about bret's it really i mean boris johnson has always wanted to be prime minister brit is his vehicle i happen to believe that he doesn't actually believe in it i was his deputy at the daily telegraph he used to write very critical pieces about the. community as it was then but he he is also very sympathetic towards the great projects however saying that publicly was not goin

the regional comprehensive economic partnership would have brought together the 10 members of the association of southeast asian nations china japan south korea strayer and new zealand the remaining nations plan to push ahead with an agreement next year at have left a door open for india it's remarkable that a deal is coming together in a world that seems to be tired of globalisation the 16 month trade war between the united states and china has yet to be resolved a low progress is being made and various nations appear to be giving up on working together on trade from bragg's it in the u.k. to make in india and of course president trumps make america great again what's propelled growth for western nations has led to a backlash against china's mercantile export juggernauts globalization has limits india baulked at the prospect of the gradual elimination of tariffs which would have opened the floodgates for cheap chinese goods plus agricultural produce from australia and new zealand. so does globalization have a future that's the question we're asking this week on counting the cost and it just