john maynard keynes, who was the british economic advisor at both conferences, paris east and potsdam, was perfectly aware. he argued as often as he could, we cannot go back to the way we had things before. it is just not going to work. we have to be subservient to the americans, whether we want to or not. the empire is going to be a and money loser because it is going to be too hard to do things the way we had done it before. so, he is a voice arguing for a complete change on the way britain thinks about everything it organizes. as with many visionaries, a lot of people don't like listening to him, because they think it is too radical. one executive said, the only thing worse than losing the war is winning with americans by our side, meaning that the americans' price for victory is too high. a lot of the rhetoric about the special relationship is meant to

keynes talks about inequality and says i'm not interested in trying to produce the perfect eq chalice terry and one - - egalitarian society but with the wealth and inequality we have today is too extreme so we agree we have too much so how much is too little? i want to get a sense from you how much you like to drive inequality down and to do the kinds of things about stifling innovation. so how much of that is optimal? >> and but let me answer. first as i try to exercise and then to be explicit actual members and what it means for themselves because it is the gini coefficient. and what they do to understand. but so that is what you learn and then in the united states and then the 2 percent and so at the time of keynes in europe even more transactions and the 19 twenties or 1900. and then that was and 67 percent so maybe at 70 percent so maybe at 70 percent at the century. and in europe

this is what keynes book looks like when you put through. which is to say, it looks a little bit like what you expect an economic textbook to look like. a lot of numbers and matt. it is a fairly big and have the book called the general theory. this is the road to serfdom. it's a lot smaller. if you flick through, you will see there is almost no. in fact there is no math whatsoever. it is a work of political philosophy. i raised this is a point not because there's nothing wrong with political philosophy. but a lot of libertarian economists will argue that after the 1970's and 1980's, that keynesian does not work mathematically. if you do the math properly like milton friedman, you need a small government to have a really vibrant economic growth. that is not what hayek's argument is about. it is not about output or economic terms at all. it is about the political consequences of federal central government spending. actually the math in the 1930's and 1940's is in the bigger book in keynes. that is the road to serfdom. not as big a book but eve

the most significant of them for our purposes is john maynard keynes, who in the interwar period begins investigations. as opposed to focusing on microeconomics he focuses on , macroeconomics, focusing on how the system should work. if you take the introductory economics course, in the 1950's, 1960's, you would not start with supply and demand, which is how microeconomics starts. you start with, how the -- how does the mechanism works in isolation for the macroeconomics starts with -- in isolation. you need to set that up before you can have capital. operating on the traditional theory. the big interventions that keynes makes in 1936, his magnum opus is saying what matters most to the economy is aggregate demand. how much demand overall there is, not any eventual deciding -- any individual deciding what price is on things but how much purchasing power there is in the economy overall. it is more easily understood with 1940's political cartoons. the top is an economy where there are very few wages being paid to workers. people who are selling products and taking high profits, not paying m

al-jazeera what keynes read insights into the diverse culture of somalia the finest 2 different couples embarking on their lives together the wedding some money style an antecedent. own culture because of the world's poorest nations going to debt repayment holiday to fight the throat of ours pandemic a lot from private investors asia's gaba to the street sheds jobs of the shari'a to 5 tech scrapping for a share of indonesia's pranking one. counter of a cost on al-jazeera save humanity i really really not getting anywhere near it. the u.s. president talks of a triumph in testing for corona virus but there's no masking the numbers as deaths surpass 80000. the whole rommany watching al-jazeera life my headquarters here in doha are also coming up in the next 30 minutes a city back on the move singapore takes tentative steps to reopen businesses after 2 months of restrictions. also france and spain lift some of the time.

the most significant thing is john maynard keynes who in the beginsr period investigations. he focuses on macroeconomics, focusing on how the system should work. if you are taking this course in 1960's, you would not start with supply and demand , which is how microeconomics starts. you start with how the mechanism works in isolation for the macroeconomics starts with -- in isolation. granted -- up you need to set that before you can have capital. operating on the traditional theory. thatig interventions opus isakes, his magnum saying what matters most is aggregate demand. how much demand overall there is, not any eventual deciding what price is on things but how much purchasing power there is in the economy overall. more easily understood with 1940's political cartoons. is an economy where there are very few wages being paid to workers. people who are selling products and taking profits, not paying many wages which means there is purchasing power is locked. people don't have money to buy products so there is a smaller market to sell to and it gets to produce less. the botto

john mader and keynes noted this at one point to ge or most of ge, that sounded just fine.he milk cow was content with the government. the tennessee valley authority the big client was the essence of government project and ge executives at the top like to very much. and ge found that tva was one of its biggest customers. they didn't mind serving the space program. unions existed by virtue of very strong union law and they demanded big pay packages. social experiments by the federal government. american business could pay that. maybe expansion of healthcare, the u.s. could pay that or perhaps a longer leave for young parents. that's just a joke. something like a longer leave for young parents in the early 60s we could pay that too. heavy unions we could pay any load. stalin was said to have joked that the only country rich enough to afford communism was the united states. [laughter] why should it not be true? why should it not be true? in the 1960s just some benchmarks for you, the dow jones industrial average was approaching a record level of 1000. it seemed only a matter o

andy gower in milton keynes has three kids...rincess. ..and stage three cancer. his treatment is on hold, although the nhs is meant to be opening up. coronavirus has taken away the resources, and if i don't get the operation, it means that i might die. i don't see why the nhs saving my life is less important than somebody with coronavirus. the rate of infection may be fading for now, but a disease that emerged thousands of miles away is, in one way or another, for each of us, already close to home. laura kuenssberg there. let's round—up some of the other main developments: health officials in new york have launched an investigation after police discovered dozens of decomposing bodies in rented trucks, outside a funeral parlour. the mayor of new york city, bill de blasio, said the treatment of the dead was absolutely unacceptable. russia's prime minister, mikhail mishustin, has tested positive for coronavirus. he's placed himself in quarantine. president putin has appointed an interim prime minister to deputise for him. russia has

return to action in the uk with the champions league event to be staged behind closed doors in milton keynessted prior to entering the venue and kept in isolation until their results are known. and some of england's cricketers are back in training. this was stuart broad , he tweeted pictures of him bowling today, one of 18 bowlers taking part in sessions this week across seven grounds. i'm sure he enjoyed being out in the middle. and cricket has certainly been doing its part in the pandemic. from adil rashid delivering food parcels, england captain heather knight offering her services to the nhs — the ecb's together through this test campaign marks the way the sport has pulled together. we'll hear from ecb managing director of women's cricket clare connor in a moment. but first here's a snapshot of the campaign video voiced by avid cricket fan stephen fry thanking those involed. we wait out the winter and countdown through spring. we are quite used to waiting for things to begin. this isn't easy. we all miss cricket but this... is making a difference. so we will wait, again, play straight, k

andy gower in milton keynes has three kids... princess. ..and stage three cancer. his treatment is on hold, although the nhs is meant to be opening up. coronavirus has taken away the resources, and if i don't get the operation, it means that i might die. i don't see why the nhs saving my life is less important than somebody with coronavirus. the rate of infection may be fading for now, but a disease that emerged thousands of miles away is, in one way or another, for each of us, already close to home. laura kuenssberg there. yemen has recorded its first two deaths linked to coronavirus, raising fears of a devastating outbreak in the war—ravaged country. according to local media, the victims were brothers who died in the same hospital in the separtist controlled port of aden. the un has warned there's a high chance other cases are circulating undetected. freya cole reports. silence in the centre of aden. the southern port city has been put in lockdown after the first reported deaths of covid—i9. markets are closed, the streets are

andy gower in milton keynes has three kids...o you, princess. ..and stage three cancer. his treatment is on hold, although the nhs is meant to be opening up. coronavirus has taken away the resources, and if i don't get the operation, it means that i might die. i don't see why the nhs saving my life is less important than somebody with coronavirus. the rate of infection may be fading for now, but a disease that emerged thousands of miles away is, in one way or another, for each of us, already close to home. let's get some of the day's other news: health officials in new york have launched an investigation after police discovered dozens of decomposing bodies in rented trucks outside a funeral parlour. the mayor of new york city, bill de blasio, said the treatment of the dead was absolutely unacceptable. the eurozone's economy shrank at its fastest pace on record in the first quarter, due to the covid—i9 outbreak. gdp contracted 3.8% from january to march. that's even worse than during the financial crisis. separate data showed a st

andy gower in milton keynes has three kids...ess. ..and stage three cancer. his treatment is on hold, although the nhs is meant to be opening up. coronavirus has taken away the resources, and if i don't get the operation it means that i might die. i don't see why the nhs saving my life is less important than somebody with coronavirus. the rate of infection may be fading for now, but a disease that emerged thousands of miles away is, in one way or another, for each of us, already close to home. there's a simple but crucial number at the heart of understanding the threat posed by the coronavirus. it is guiding governments around the world on the actions needed to save lives, and it gives us clues to the extent that lockdown can be lifted. it's called the reproduction number — or simply the r—value. 0ur science editor, david shukman, explains. what is called the r—number is a way of measuring how easily the virus spreads. if the rate is one, that means anyone infected is only passing it to one other, so things are stable. but get to

the championship league event will be staged behind closed doors at the marshall arena in milton keynesit has on—site accommodation, meaning everyone involved in the tournament can stay there. all players and staff will be tested before entering the venue, and will be kept in isolation until results are known. we won't know it's the right time until we go back and hopefully there is no repercussions from it. that i have read all the details that are going to be put in place and i have sat in on a commission committee for snooker and i know a lot of work has gone on behind the scenes. i am confident they have done everything they can. britain's sailors are preparing to move to the next stage of training from tomorrow. a number of measures have already been implemented to allow some of the squad to continue their preparations for next year's olympics. our reporter nick hope's been finding out how they've been navigating some of the challenges. asa as a champion sailor, giles has ove i’co m e as a champion sailor, giles has overcome some of the toughest trials nature can offer that's not e

you wrote a jewel out of the financial crisis, "keynes: the return of the master."n the foxholes is a keynesian, trying to figure out government support forward. that is great. how do we pull the government support away one year, two years, and five years down the road? how do we do that in an efficacious manner? robert: the government support should play a part in reviving the economy. that is how it works. you support the economy in the downturn and then that support helps the recovery. the government support falls away naturally. that is to say, if you think of it in terms of the deficit, at falls away, it reduces naturally as revenues increase, as the economy recovers. that is the basic pattern. this is a very complicated case because what is happening at the moment is the government is paying millions of workers their wages to produce nothing, so you are in a situation where as the economy recovers, you will also get very high inflation rate because spending hasn't fallen. we don'tplicated and know how long the lockdown will last, so i will not go into the busi

keynes and elsewhere as we gradually come out of the lockdown?ld be doing to support his businesses in milton keynes, as they look forward toa milton keynes, as they look forward to a future where they can start to reopen, start to get their employees back to work and start to rebuild our economy as we emerge from this crisis. caroline lucas. thank you, mr speaker. crisis. caroline lucas. thank you, mrspeaker. i crisis. caroline lucas. thank you, mr speaker. i welcome the continuation of the furlough scheme and its new flexibility to allow part—time work. vital for business in brighton, particularly those in tourism and hospitality. would he consider further support to that sector by a reduction in vat on tourism? it's a policy which many of his own government mps support. and cani his own government mps support. and can i ask him if he will consider advising the self—employed scheme by including small business owners who ta ke including small business owners who take their income and dividends, as well as those who combine paye with freelance wo

county officials say people at the meat plant to make up two thirds of the coronavirus cases, in keynes county. the company says they are following cdc guidelines to keep employees safe. >>> the bad four beaches are cleared to reopen, with restrictions. newport beach, and capistrano beach were closed by governor newson after attracting thousands of people after a recent heat wave, people going to the beach will have to follow social distancing roles, visitors could swim in the water, or go for a walk, but they cannot stop and sit down in the sand. >>> a salon owner is out of jail now, in connection with violating a shelter in place order. sentenced to seven days in jail, for reopening the salon, she would not apologize. the texas state supreme court has released her from jail after the governor changed his executive order on coronavirus restrictions. >>> in today's dollars and cents, sweet tomatoes is shutting down permanently. the ceo of the parent company says 97 locations will close including the seven locations in the bay area. the company says that the ceo does not see a viable pat

balance of power state model was inherently unstable, brilliant people like teenagers and, john maynard keynes in a different kind of world where we pull the nationalism and sovereignty and identities but what we saw, the countries weren't willing to give these organizations the ability that one needs to be done, with all kinds of shortcomings. what i am working on now, i drafted on and put out in the world, we have a big community working on this. we have seen this virus which is showing how connected we are and we are putting up walls, they are prevaricating each other. the virus that affects everybody, how can we work together to solve the problem? this is a transitional moment. if we don't come to this realization that governments matter, on every level, individuals alone can't do it. having said that i am encouraged by what i have seen the last few weeks of new and incredible communities. >> over to me. thanks, everybody. we live in this exponential time. never heard the word exponential used so many times. your theme is "hacking darwin: genetic engineering and the future of humanity," yo

the championship league event will be staged behind closed doors at the marshall arena in milton keynesn because it has on—site accommodation, meaning everyone involved in the tournament can stay there. all players and staff will be tested before entering the venue, and will be kept in isolation until results are known. we won't know it's the right time until we go back and hopefully there is no sort of repercussions from it, but i have read all the details that are going to be put in place and i was sort of on a commission committee for snooker and i know a lot of work has gone on behind the scenes and i am pretty confident that they have done everything they can. in the bundesliga, a couple of results for you from behind closed doors in germany. borussia monchengladbach are up to third after a 4—1 win over union berlin. and second place borussia dortmund are in action — they're 3—1 against padderborn. england's jadon sancho on the scoresheet twice — he was in the starting line—up for the first time since the league restarted. already two goals in about 13 minutes left there. britain's

the championship league event's to be staged behind closed doors at the marshall arena in milton keynesall players and staff will be tested before entering the venue, and will be kept in isolation until results are known. we won't know it's the right time until we go back and hopefully there is no sort of repercussions from it. but i've read all the details that are going to be put in place and i'm sort of on a commission committee for snooker and inu a lot of has gone on behind—the—scenes and i'm pretty confident that they have done everything that they can —— and i'm ona everything that they can —— and i'm on a lot. remember football's been back under way in germany for a couple of weeks. bayern munich took a step closer to an eighth consecutive title with a 5—0 over dusseldorf. and what a season it has been for robert lewandowski. a3 goals in all competitions in this extended season. he got two yesterday — what a finish here on his second. that's four goals in four games now for him since the league returned. still a long time to wait before the olympics, of course. tokyo 2020 will t

just knew what keynes read him signs into the diverse culture of sometimes. as it implements 2 different couples. embodying all men lives together to weddings some money. an antecedent. you're watching al-jazeera reminder of our top stories this hour u.s. secretary of state mark bumppo has doubled down on accusations against china saying the country could have prevented hundreds of thousands of deaths if it had been transparent about the outbreak earlier beijing hit back at us threats to reimpose terrorists as punishment for the pandemic. spanish prime minister pedro sanchez looks set to secure enough parliamentary votes on wednesday to extend a state of emergency he wants the measure for true more weeks as the country relaxes a lockdown imposed to control one of the world's worst coronavirus on breaks. and the british prime minister defended his government's response to the coronavirus pandemic johnson was responding to questions during his 1st appearance in parliament since recovering from covert 98. china isn't there humor coronavirus pandemic slow its amb

statistics are hard to come by there, but john maynard keynes, the great economist was asked has there ever been anything like the depression before. he said yes, it's called the dark ages and it lasted 400 years. so we are in a deep crisis. the question for us now is what do we do with it. crises can pass, but they have to be addressed. and simply wishing it away is not going to work. the good news is fdr got some things right, some things wrong. he set up a political dynamic that for the next 80 years, the tension between where ronald reagan stood and fdr stood really governed american politics. and bill knows this incredibly well. he was part of it. you governed and you fought, but you did so on a coherent field. it was a field really built by fdr, reagan, lyndon johnson. in many ways, the reagan revolution is a response not to the new deal as much as it was to the great society. so it's a moment of enormous political import. the decision we're going make in november is extraordinary. also, for democrats who are very worried at this point, i would remind people that i can't think of

the other, you had down syndrome, died nine days later, in milton keynes, he was 38.ily could not be by their sides when they died and are urging people to stick to the lockdown. everyone should take personal responsibility for their own care right now, so social distancing, making sure you stay at home, do not go out if you do not need to and if you do go out, follow the guidelines. listen to all the medical professionals because they are the ones that can really guide us through this and be sensible because it does kill people. and the number dying continues to rise. 649 more deaths were confirmed yesterday, making the uk the first country in europe to pass 30,000. in online videos and elsewhere, the government is still urging people to stick to the lockdown and it is understood the government ‘s core stay—at—home method is to be scrapped at the weekend. the prime minister is due to make an announcement on sunday but officials say do not expect dramatic changes. restrictions are most likely remain largely in place. we have to be sure that the data is going to suppor

john maynard keynes who was the british economic adviser bill that the paris peace conference and that potsdam was perfectly well aware. he argued as often as he could, we cannot go back to the way that we had things before. it is just not going to work. we are going to have to be subservient to the americans whether we want to or not. our future political economic success will be tied to the americans whether we wanted to or not. the empire -- it's going to be too hard to go back in there and do things the way we had done it before. he is the voice that is arguing for complete change of thought on the way that britain things about everything it organizes. as with many visionaries, a lot of people do not like listening to him because they think it hits to radical a change. the only thing worse than losing the war is winning with the americans by our side, meaning america's price for victory is too high. i think a lot of this kind of rhetoric and special relationship is billed to mask an awful lot of that, the way americans understood -- we are not going back to what we had. we are now

isi, who had down's syndrome, died nine days later, in milton keynes. he was 38.their sides when they died, are urging people to stick to the lockdown. social distancing, making sure you stay at home, don't go out if you don't need to, and if you do go out, follow the guidelines, listen to all the medical professionals because they are the ones that can really guide us through this and be sensible, because this does kill people. and the number dying continues to rise. 649 more deaths were confirmed yesterday, making the uk the first country in europe to pass 30,000. in online videos and elsewhere, the government is still urging people to stick to the lockdown, but it's understood the government's core stay—at—home message is to be scrapped at the weekend. the prime minister is due to make an announcement on sunday, but officials say don't expect dramatic changes. restrictions will most likely remain largely in place. we have to be sure that the data is going to support our ability to do this. that data is coming in continuously over the next few days. we'll want,

coronavirus symptoms but talked about live in paris thanks very much indeed natasha well done it keynes joining us live from berlin dominic it sounds to me as though germany is intending to open some of its borders but at the same time the chancellor is a very cautious note when she's suggesting these things. yes you have to imagine this as 2 sides of the same coin almost one side of the coin you have the government very clearly over the course of the past few weeks gradually relaxing restrictions on the freedom of movement and indeed on shops and other enterprises from doing the business they would normally be doing if there wasn't the pandemic so you have that on the one side of the coin but on the other you have angle americal and her cabinet colleagues and son prime ministers of states of this country all saying be cautious listen to the science listen to what ministries are saying observe social distancing when mosques wherever possible certainly where it is compulsory to do that because they don't want there to be a 2nd wave of infections in so far as border control is concerned f

isi, who had down‘s syndrome, died nine days later, in milton keynes. he was 38.ould not be by their sides when they died, and are urging people to stick to the lockdown. social distancing, making sure you stay at home, don't go out if you don't need to, and if you do go out, follow the guidelines, listen to all the medical professionals because they are the ones that can really guide us through this and be sensible, because this does kill people. and the number dying continues to rise. 649 more deaths were confirmed yesterday, making the uk the first country in europe to pass 30,000. in online videos and elsewhere, the government is still urging people to stick to the lockdown, but it's understood the government's core stay—at—home message is to be scrapped at the weekend. the prime minister is due to make an announcement on sunday, but officials say don't expect dramatic changes. restrictions will most likely remain largely in place. we have to be sure that the data is going to support our ability to do this but that data is coming in continuously over the next

are sent to one of the best la bs they are sent to one of the best labs in the country in milton keynestion back at ons, but we were also write to their gp to let them know the outcome so they will know that you have a positive test. interesting. perhaps we will talk to you again as this develops because it is clearly a very big project. thank you very much for now, pete benton. the other big topic talking about today is less antibody test. it was given the go—ahead by public health england, it assesses whether someone health england, it assesses whether someone has been infected with covid—19 in the past, it could apply to people who have had it and don't even know. so this is quite an exciting new blood test. we have had a lot of questions about that today. my colleague, martine croxall, put those questions to our science correspondent, pallab ghosh, earlier today. the first question, what is the difference between an antibody test and an immunity test? the simple answer is that an immunity test will tell you whether you are immune to a certain disease, in this case, coronavirus, and

and the general public are then having them done in big centres such as milton keynes.d out properly. tiff, how much difference would it have made to you if you actually knew you definitely had coronavirus? i mean, yeah, i would like to know. i don't need a test to know i've had it, but it would be good. i think everyone who has it, or has had it, there should bea has it, or has had it, there should be a government health body looking out for the people that have had it. and if there is any kind of treatment available. i mean, in the future we should be on lists for future we should be on lists for future treatments. but now it's like, the way the whole system has been here, honestly, it's been like you have been on a ship and you were thrown off into the middle of the ocean with just those inflatable kiddie armbands and told, see you at sure, good luck. that's how it has been. it's been great for you to share the experience you've had. they number 60. there might be people watching and listening to that experience of tiff, who are not sure they have had coronavirus, bu