New Economics Podcast

After months of rumours, speculation and gossip, today the chancellor finally delivered her autumn budget - but not before an accidental leak of the budget document rendered the whole speech somewhat pointless. Alongside billions of pounds of tax rises came the long-awaited end of the two-child benefit cap. But our public services have been decimated by years of austerity, and the cost of living crisis hasn’t gone anywhere. It doesn’t seem like this budget will rocket us into an era of joy and prosperity any time soon. So, did progressives get the wealth taxes they have been demanding? Will the bond markets be popping champagne this evening? And why has the chancellor found it so hard to turn our economy around? Hannah Peaker, deputy chief executive at the New Economics Foundation, is joined by James Meadway, host of Macrodose, and Carys Afoko, host of Over the Top Under the Radar, for a special cross over episode. Follow our Instagram: www.instagram.com/neweconomicspod/ Follow our Tiktok: www.tiktok.com/@neweconomicspod Produced by Planet B Productions with support from Margaret Welsh and Katrina Gaffney. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254 Music by Lee Rosevere, Free Music Archive: freemusicarchive.org/m... used under Creative Commons licence: cre​ativecom​mons​.org/​l​i​c​e​n​s​e​s​/​b​y​-​n​c​/4.0/.

It’s a new technology that everyone’s desperate to get a piece of. CEOs say it’s going to change how we work, access information, and even relate to each other. Investors are showering companies with money - even when they aren’t turning a profit. You might think this is the story of artificial intelligence. But it’s actually what happened during the dotcom bubble, back in the late nineties. When the frenzy of investment ended, the bubble burst. Companies went bust and trillions of dollars of investment capital evaporated. Today, AI companies are raising over a trillion dollars in investment, with very little revenue to show for it. Is the dotcom bubble a vision of our future? Has the AI hype outpaced its profits? And if the bubble bursts - what does it mean for the rest of us? This week Ayeisha Thomas-Smith is joined by Eleanor Shearer, senior research fellow at Common Wealth and Carsten Jung, interim associate director for economic policy and AI at the Institute for Public Policy Research. Follow our Instagram: www.instagram.com/neweconomicspod/ Follow our Tiktok: www.tiktok.com/@neweconomicspod Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Last week democratic socialist Zohran Mamdani won the New York City mayoral election. His election campaign was bolstered by a slick social media campaign, seen by millions in his city and beyond. Politicians in the UK have taken inspiration, with figures like Zarah Sultana and Zack Polanski raking in the views on TikTok. But these progressive voices are a drop in the ocean compared to the reach of right-wing voices like Tommy Robinson, Nigel Farage and Andrew Tate. So, why are right-wing influencers so successful online? What lessons do the left need to learn about digital strategy? And do we even have a hope when some of the biggest social media platforms are owned by right-wing billionaires? This week Ayeisha Thomas-Smith is joined by Will Davies, professor of political economy at Goldsmiths, and Dunya Kamal, social media specialist working at the Trades Union Congress, to discuss. Follow our Instagram: www.instagram.com/neweconomicspod/ Follow our Tiktok: www.tiktok.com/@neweconomicspod Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254 Music by Lee Rosevere, Free Music Archive: freemusicarchive.org/m... used under Creative Commons licence: cre​ativecom​mons​.org/​l​i​c​e​n​s​e​s​/​b​y​-​n​c​/4.0/.

We used to own things. The essential services we need to survive - things like water, trains and our energy system - used to be owned by us: the UK public. But over the last four decades, our public services have been sold off to private corporations over whom we have no control. The result? Soaring bills for us, but massive payouts to shareholders. Sewage in our waterways, but bailouts for water companies. Constantly delayed trains, but ticket prices getting higher every year. But what if it didn’t have to be like this? What if we had democratic control over the things which mattered to us? And what if this went beyond public services - to the factories, farms and markets across the UK? Ayeisha Thomas-Smith is joined by Keir Milburn, author of Radical Abundance: how to win a green democratic economy, and Frances Northrop, head of community economic power at the New Economics Foundation. Follow our Instagram: www.instagram.com/neweconomicspod/ Follow our Tiktok: www.tiktok.com/@neweconomicspod Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254 Music by Lee Rosevere, Free Music Archive: freemusicarchive.org/m... used under Creative Commons licence: cre​ativecom​mons​.org/​l​i​c​e​n​s​e​s​/​b​y​-​n​c​/4.0/.

Israel’s attacks on Gaza have been described by ministers as “intolerable”, “appalling” and “cruel”. Last year this government suspended around a tenth of Israel’s arms export licences. Yet this summer the UK managed to sell record amounts of arms to Israel, including over one hundred thousand bullets in just one month. The UK exports billions of pounds worth of parts for fighter jets, bombs and other defence equipment every year. Protest groups, like the now-banned Palestine Action, have repeatedly targeted UK defence sites, including those belonging to Israel’s largest arms producer, Elbit Systems. So why are we exporting arms to countries who target civilians? Why is the arms industry so entwined with the UK economy? And does more military spending really keep us safe? Ayeisha Thomas-Smith is joined by Khem Rogaly (Common Wealth and Transition Security Project) and David Wearing (University of Sussex). Follow our Instagram: www.instagram.com/neweconomicspod/ Follow our Tiktok: www.tiktok.com/@neweconomicspod Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Is the party over before it has even begun? Tens of thousands of people signed up to be members of Your Party, the new political project founded by Jeremy Corbyn and Zarah Sultana. But within hours, rumours of a rift within the party leadership exploded into warring public statements and threats of legal action. Meanwhile, Zack Polanski won eighty-five percent of the vote in the Green Party leadership election, with record numbers of members signing up to his eco-populist vision. But the Greens face an electoral system stacked in favour of the bigger parties. As of the time of recording, Your Party has relaunched its membership drive. So what would it mean for them to get off the ground? Will Polanski change the fortunes of the Greens? And do either of these parties have what it takes to challenge the rise of the far right? This week Ayeisha Thomas-Smith is joined by Adam Ramsay and Shanice McBean to discuss. Follow our Instagram: www.instagram.com/neweconomicspod/ Follow our Tiktok: www.tiktok.com/@neweconomicspod Music by Lee Rosevere, Free Music Archive: freemusicarchive.org/m... used under Creative Commons licence: cre​ativecom​mons​.org/​l​i​c​e​n​s​e​s​/​b​y​-​n​c​/4.0/. Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

This government has taken a record-breaking plummet in popularity, our chancellor keeps telling us the Treasury has no spare cash for our crumbling schools and hospitals, and Reform have become the most popular party in the country. So, where did it all go wrong for Labour? Is it true that this government is hamstrung by the UK’s ailing economy? And why are so many people turning to Reform? For the first episode in a new series of the New Economics podcast, Ayeisha Thomas-Smith is joined By Faiza Shaheen, chief executive of Tax Justice UK, and Alex Chapman, senior economist at the New Economics Foundation. Follow our Instagram: https://www.instagram.com/neweconomicspod/ Follow our Tiktok: https://www.tiktok.com/@neweconomicspod Music by Lee Rosevere, Free Music Archive: freemusicarchive.org/m... used under Creative Commons licence: cre​ativecom​mons​.org/​l​i​c​e​n​s​e​s​/​b​y​-​n​c​/4.0/. Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

During the presidential campaign, the Democratic Party warned that American democracy was under attack from Trump. Since the start of Trump two-point-0, his administration has deported pro-Palestine student protestors. He has barred Oval Office access to journalists who have used the phrase “Gulf of Mexico” rather than “Gulf of America”. And he has called for a judge blocking his orders to be impeached. With such anti-democratic forces ensconced in the White House, have US progressives failed? Have the far-right thrived because they are simply better at organising? And how can Americans come together to prevent the stripping away of their most basic rights? Hannah Peaker is joined by Marshall Ganz, legendary organiser, lecturer at the Harvard Kennedy School, and author of People, Power, Change: Organising for Democracy Renewal. Links: The Leading Change Network: https://leadingchangenetwork.org/ ....... Music: Canyon by A.A. Aalto, used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

We are living in a time of contradictions. For the last forty years, our politics and media have been dominated by neoliberal, right-wing voices - yet pundits insist that the UK is dominated by a woke, left-wing elite. Our politicians claim to champion the voices of the forgotten working class - yet working-class people are not seeing better wages, housing or healthcare. And the majority of people in this country are being screwed by the economic system - yet for some reason we seem unable to secure a better future for ourselves. So where did it all go wrong? Are we really ruled over by a censorious woke mob? Or is it all a convenient story, to distract us from the real villains? Ayeisha Thomas-Smith is joined by Ash Sarkar, journalist and author of Minority Rule: Adventures in the Culture War. Music by A.A Aalto (available: freemusicarchive.org), used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Half a year ago, the Labour Party swept into power with a huge parliamentary majority and Kier Starmer celebrated by saying that the country could “get its future back”.  Today, Labour are dogged by low approval ratings, having upset everyone from environmentalists to pensioners, farmers to small-business owners.  And just last week Reform overtook both the Conservatives and Labour in a poll of voting intentions - suggesting the public are already looking for an alternative. So, why has the public seemingly turned on the Labour Party? Should they be threatened by the rise of Reform? And how can the progressive movement push this government to create the world we want?  Ayeisha Thomas-Smith is joined by Grace Blakeley, economics commentator and author of Vulture Capitalism: Corporate Crimes, Backdoor Bailouts and the Death of Freedom, and David Edgerton, historian and author of The Rise and Fall of the British Nation: a Twentieth Century History. Music by A.A Aalto (available: https://freemusicarchive.org/music/A_A_Aalto/Bright_Corners/Corps_Of_Discovery/), used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

The price of your food shop rocketed because of inflation and now your mortgage is going up hundreds of pounds because the Bank of England decided to increase interest rates. You might be struggling to make ends meet and wondering why our central bank has made your life more difficult. Across the pond Donald Trump is putting pressure on the American central bank to lower its interest rates, saying he knows more about it than Federal Reserve policymakers. It might seem a tempting proposal to the average American who feels that their central bank has not provided them with the stability it is supposed to. So what is the role of central banks in all of this? Are they under threat from right-wing populism? And what are the progressive alternatives to dealing with inflation? This week Ayeisha Thomas-Smith is joined by Dominic Caddick, economist at NEF, and Sebastian Mang, senior policy advisor at NEF, to discuss. Music by A.A Aalto (available: https://freemusicarchive.org/music/A_A_Aalto/Connections/Focus/), used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Do you work from home? Then you’re probably not doing proper work, and you’re causing the UK’s economic decline! At least that’s what the former boss of Asda and M&S said last week. Meanwhile, gig economy Deliveroo riders have launched a new campaign for greater openness around the opaque algorithms that rule their working lives. It’s clear with new technology comes new battles for workers. So what is working life like in the UK right now? After pandemic lockdowns and high inflation, have we changed our expectations of what work provides? And are unions ready to lead the fight back against bad work? Ayeisha Thomas-Smith is joined by Kate Bell, assistant general secretary at the Trades Union Congress. Music by A.A Aalto (available: https://freemusicarchive.org/music/A_A_Aalto/Bright_Corners/Coast_Highway/), used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Last week hundreds of tractors drove through Parliament Square. It was the latest protest by UK farmers against changes to inheritance tax announced by the chancellor. From farmers’ protests to the poll-tax riots in the 90s, the amount of tax we pay to the government churns up intense emotions. We want to rescue our cash-strapped public services - but most of us are reluctant to pay more tax. Do Labour’s tax plans go far enough to fix our broken economy? Is the UK really a high-tax nation? And if we want an economy that meets everyone’s needs, do we all just need to pay more tax? Ayeisha Thomas-Smith is joined by Sara Hall, deputy director at Tax Justice UK, and Hannah Peaker, director of policy at NEF, to discuss. Music by A.A Aalto (available: https://freemusicarchive.org/music/A_A_Aalto/Bright_Corners/Corps_Of_Discovery/), used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney and Margaret Welsh. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

From housebuilding to sewage systems to the NHS, private companies are deeply intertwined with our essential public services. But is partnering with big corporations the only way of improving people’s lives? Is private investment a vital ingredient in economic renewal? Or will it just lead to price gouging for us and soaring profits for corporate execs? This week Ayeisha Thomas-Smith is joined by Daniela Gabor, professor of economics at SOAS, and Aveek Bhattacharya, research director at the Social Market Foundation, to discuss the role of private investment in our economy and public services. Music by A.A Aalto (available: https://freemusicarchive.org/music/A_A_Aalto/Fest/Sneak), used under Creative Commons licence: https://creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney, Margaret Welsh and Amy Clancy. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

The International Energy Agency has said that the world cannot develop any new oil and gas fields if we are to stop climate breakdown. Keir Starmer has promised that the UK will slash its emissions faster than ever before and his government is banning new licences to drill for fossil fuels in the North Sea. Drilling in the wild waters of the North Sea has been a major Scottish industry for decades. Now, its time may be coming to an end. But what about the people who depend on the industry for their livelihoods? What will happen to workers and communities in places like Aberdeen? And how do we square this with the need to kick our addiction to destructive fossil fuels? Ayeisha Thomas-Smith is joined by Anna Carthy, senior policy researcher at Uplift, and Mika Minio-Paluello, industry and climate lead at the Trades Union Congress, to discuss. Music: Curious by Poddington Bear (available: https://freemusicarchive.org/music/Podington_Bear/Curious/Curious/), used under Creative Commons licence: https://creativecommons.org/licenses/by-nc/3.0/. Produced by Katrina Gaffney, Margaret Welsh and James Rush. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

The Autumn Budget was the most significant since George Osborne implemented austerity in 2010. Rachel Reeves announced one hundred billion pounds for infrastructure, forty billion in tax rises and a whole host of policy changes, which she hopes will deliver Labour’s mission of national economic renewal. But what does an extra hundred billion pounds mean for the UK? Are we finally taxing the wealthy properly? And has the chancellor gone far enough to rescue our public services? Ayeisha Thomas Smith is joined by economist James Meadway and NEF Director of Policy Hannah Peaker to discuss. Music: Caterpillar Tunnel by Poddington Bear (available: https://freemusicarchive.org/music/Podington_Bear/Curious/CaterpillarTunnel/), used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney, Margaret Welsh and James Rush. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

By the time this episode comes out, the new Labour government will have been in charge of the country for one hundred days. So what do we know about how they’ll run the economy? Can they rescue our threadbare public services while promising a tight grip on government spending? And will their focus on growth deliver real change for those who need it most? Ayeisha Thomas-Smith is joined by Aditya Chakrabortty, senior economic commentator at the Guardian, and Ailbhe Rea, associate editor at Bloomberg UK, for the first episode in a new series of the New Economics podcast. ....... Music: Gathering by Poddington Bear (available: https://freemusicarchive.org/music/Podington_Bear/Encouraging/Gathering/), used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney, Margaret Welsh and James Rush. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

A few weeks ago, far-right rioters gathered outside a hotel hosting asylum seekers in Rotherham and tried to set it on fire. Across the country this horrific act of violence was replicated, as mosques, libraries and people driving home from work came under attack. But in the face of this racist and Islamophobic violence, people gathered to protest the presence of the far right in their communities and to rebuild after the attacks. It was people showing solidarity with their neighbours which ultimately seemed to stem the riots. As the dust settles on the violence, how do we combat the rise of the far right? Are economic deprivation and austerity to blame for that week of violence? And can communities come together to combat racism and Islamophobia? For a one off special episode of the podcast, Ayeisha Thomas-Smith is joined by Minnie Raham, Chief Executive of Praxis, and Abi O'Connor, researcher at NEF. Find out more about: Praxis: https://www.praxis.org.uk/ Green and Black Cross: https://greenandblackcross.org/ Music: What happened in the past doesn't stay there by Lee Rosevere, Free Music Archive: https://freemusicarchive.org/m... used under Creative Commons licence: cre​ativecom​mons​.org/​l​i​c​e​n​s​e​s​/​b​y​-​n​c​/4.0/.

In the recent European elections, the far right won unprecedented gains. From the success of the AfD in Germany, to Le Pen’s National Rally in France, the elections saw nationalist and eurosceptic parties sweep up nearly a quarter of the seats in the European parliament. In the UK, the next general election is just days away. Voters will be heading to the polls against a backdrop of decades of economic failure, crumbling public services and a cost of living crisis that has left more than four in 10 households unable to afford life’s essentials. But you wouldn’t know it from the way a lot of our political leaders are talking. Voters are being told, yet again, that times are tough, government spending power is weak, and there is no magic money tree. Oh, and of course, it really is time to crack down on migration, once and for all. So, how can we understand the promises, or lack thereof, of the people vying for our votes, within a broader context of political upheaval across Europe? In a time of such great need, why are Labour and the Conservatives offering so little? And as the dust settles on the European elections, is the UK really an anomalous country leaning the left, while our continental neighbours lurch rightward? This week, Ayeisha Thomas-Smith is joined by Yanis Varoufakis - economist, academic, formally Greece’s finance minister, and author of a number of critical books, the latest of which is Technofeudalism: What Killed Capitalism. They discuss: how do we build a Pan-European progressive movement that can win? ....... Music: Melting Ground by Jangwa, used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Amy Clancy, James Shield, Margaret Welsh and James Rush. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

We live under an invisible ideology. It tells us that we are not citizens but consumers. That intervening in the free market compromises our freedom. That we are all millionaires-in-waiting - and if we are struggling to make ends meet, then we only have ourselves to blame. This is capitalism on steroids. But few of us can even identify the doctrine we live under. It’s called “neoliberalism”, and it’s been the dominant economic ideology for the past four decades. So what does this ideology have to tell us about the world? How is neoliberalism shaping our democracy? And what has almost half a century of neoliberalism done to our lives? Ayeisha Thomas-Smith is joined by George Monbiot, journalist and co-author of the new book The Invisible Doctrine: the secret history of neoliberalism, to discuss: how do we tell a new story about neoliberalism? ....... Music by Inaequalis is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International License: https://creativecommons.org/licenses/by-nc-sa/4.0/ Produced by Amy Clancy, Margaret Welsh and James Rush. The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of any entities they represent or NEF. New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254