The combination of technological innovation and increasingly urbanised societies allowed them to produce masses of exports that were cheap for us. Bush, that means you. Even if the joint stock arrangements could be regulated so that they aim at the long term success of businesses, they would still be always pushing for lower and lower wage costs and as a result relocating to the lesser developed countries.
With the intention of appeasing the population after the Tienanmen Square massacre he outlined the opening of capitalist markets. But as there are now million people signed up to Facebook, with nearly half that number logging on for between 30 minutes and four hours per day, then Zuckerberg How west went bust clearly won the argument, though How west went bust looks as if whatever it is Facebook users actually do on the site is rather more valuable to Zuckerberg than anyone else.
This happened because East Asian countries, especially China, bought up US dollars to make them cheaper and maintain US consumption of their goods. How does that work?? The East Asian countries have an advantage here because in their culture children actually like to learn. Taking a Durkheimian approach, Peston urges we need to ensure banks are made to function for the health of society as a whole, rather than dominating and distorting it.
Banks became able to buy up stock brokerage firms to supercharge investment. Yet none of this really seemed to matter, as good satire often lies as much in the fun you have along the way as in the absurdity of the set-up.
Or that no one would notice that the severed finger came from a man, not a woman? The general population carried on consuming more as their real wages fell. When a country goes bankrupt the people tend to keep working but do not get paid, as is often the case in Greece now.
Being a depressive sometimes has its upsides. If the Eurozone collapses this could happen in other countries such as Italy, Portugal, Ireland and Spain- and would have a very negative effect on the UK too.
In so doing, he lost the love of his wife and gained the sympathy of the nation. This is partly because of our cultural fetish for owning a large house, and partly because of our more Americanised consumer ideology. All the gadgetry seemed only too familiar and the voyeurism all too credible: One little known factor in this is that British manufacturing firms have to import their components and thus they may as well move to countries where those components they use are produced.
The British public became addicted to having lots of these consumer goods and we borrowed far more than we could pay back to do so. Peston produces a string of experts who all say: At the same time in the US Alan Greenspan was appointed as head of the Federal Reserve and began to deconstruct the regulation of the finance sector there.
Episode one, Illusion, goes back thirty years to the Thatcher, Reagan, Deng Xiao Ping years of freer-market liberalisation and the subsequent irresponsible waves of deregulation yes George W. Batten down the hatches, tighten the belts, take some Valium and perhaps, my fellow Rip Van Winkles, it will all be better when we wake up.
Episode Two compared the lives of Chinese and British workers, concluding that what Britain needs is a radical economic re-think; a country so dependent on the retail-dependent consumer society, it produces less and less tangible goods but more and more complex financial products in the control of the City of London, where the short term, quick profit mentality dominates.
If this is the future, count me out. The problem is the motivation behind such businesses: Britain, he argues, is merely a consumption society. This two episode, two hour documentary reviewed the causes and the consequences of the financial crisis. It is a warehouse providing services which moves products around the world but without producing itself.
Yet it is seldom been noted that the practice of rewarding failure at the top of businesses, particularly in the finance industry, did not start with those in charge at the time of the Crash, but was well established in the better times and tolerated by a naively Thatcherite government.
What reward do you get for clicking the like button? Rather less credible was the premise in which we were asked to believe, that Princess Susannah — think Kate Middleton — had been abducted and that the kidnappers had threatened to kill her unless the prime minister — think David Cameron: This is a very risky cultural trend to encourage, not only because such jobs are rarely socially useful or even personally rewardingbut also because of the way it shapes our economy.
Financial powers pressured governments to allow this because they wanted to hold onto the financial revolution started by Thatcher that had seen their businesses grow so much, and which had allowed them to vote themselves massive pay rises- in spite of wages falling for the bottom section of society.
Could you picture Tracey Emin holding up a police escort and abducting Kate?The BBC produced the below economic documentary, The Party’s Over: How the West Went Bust.
Business editor Robert Pest goes through the U.K.
financial and economic history of the last 30 years and concludes, surprise, much of it was illusionary and really kind of stupid. Enjoy. Apr 21, · The Party’s Over: How the West Went Bust On BBC iPlayer, duration: 2 times 1 hour episodes It may not be a new show, but believe me, the the ongoing Eurozone crisis, the US debt crisis and pervasive economic doom and gloom, this is a finance show that will prove you’re not going insane and may broaden your.
The Partys Over: How the West Went Bust: Description: Robert Peston examines the decisions which brought the West's economy to crisis - Series Free. Jan 29, · As I know even less about economics than I do law you'll be happy to know this isn't an opinion piece but a summary of the documentary series.
With thanks to Robert Peston ©BBC, December The Crash will likely lead to the worst decline in the real standard of living since the Great.
Robert Peston interviews bankers, politicians and economists, and concludes that the boom we enjoyed before the crash was based on an illusion, and that the world's economy is now so unbalanced that in the West we face a sobering wake-up call.
1 / 2 Robert Peston examines the decisions which brought the West's economy to crisis.Download