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Genre: Economics / Topic: Wealth Distribution
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Gavin Oldham

Thought for the Week: End of the Road for Universality

Gavin Oldham
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Thought for the Week

Thought for the Week: End of the Road for Universality
When Clement Attlee introduced welfare universality to post-war Britain, he was aiming for a more egalitarian society. Seventy-five years on we can see not only that it has not been achieved, but also that it has nearly bankrupted the public finances: a major task for UK Chancellor Rachel Reeves to tackle in her Spring Statement. Targeting support for those most in need with the help of philanthropy will be a key part of replacing 'egalitarian socialism' with egalitarian capitalism, enabling those with a social conscience to concentrate support and encouragement where it's needed, rather than providing publicly-funded services 'free at the point of use' for everyone. Background music: 'Everything Has a Beginning' by Joel Cummins Image source: Wikipedia
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Gavin Oldham

Thought for the Week: Calling for Tech Philanthropy

Gavin Oldham
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Thought for the Week

Thought for the Week: Calling for Tech Philanthropy
Sam Altman, the tech entrepreneur who built OpenAI and its ground-breaking ChatGPT Artificial Intelligence functionality, correctly says that increasing equality may require new ideas. He's right: governments and political ideologies of many hues just can't deliver, besieged by conflicts of interest and debt. The Credit Suisse Wealth Distribution chart shows the huge contrast between those who are super-rich (in blue), the wealthiest of whom are the giant tech oligarchs, and those who live in real poverty, in red. It's time we accepted that 'The State', whether socialist or populist, can't deliver, and for philanthropists to step up to the plate, working in partnership with governments who still need to provide the necessary regulation and logistics. Background music: 'Resolution' by Wayne Jones Image source: Wikipedia
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Gavin Oldham

Thought for the Week: How tech could lift the debt straitjacket

Gavin Oldham
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Thought for the Week

Thought for the Week: How tech could lift the debt straitjacket
Both the Office for Budget Responsibility and Andrew Bailey, Governor of the Bank of England, have warned of serious consequences for public finances if significant action isn't taken. The assumption is that this must be achieved by lifting growth in productivity. But what if the main impediment to traditional economic growth, as evidenced by GDP, is endemic demonetization brought about by advancing technology and automation? Is it time to look for a radically new approach which will allow everyone to participate in that wealth creation? Background music: 'The New Order' by Aaron Kenny
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Gavin Oldham

Thought for the Week: Walking into the Unknown

Gavin Oldham
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Thought for the Week

Thought for the Week: Walking into the Unknown
Last week we focused on UK government debt: but it pales into insignificance when compared to U.S. national debt. Donald Trump has radical plans to apply tax cuts and huge import tariffs, but could this trigger a global financial crisis with no-one prepared to buy debt in a zombie economy? U.S. national debt has doubled to over $35 trillion during the ten years that Share Radio has been on air: both Democrats and Republicans have driven it remorselessly. A new approach to economics is needed which doesn't rely on either bigger government or lower taxes. Background music: 'Dark Alley Deals' by Aaron Kenny
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Gavin Oldham

Thought for the Week: Democratising Copyright

Gavin Oldham
Original Broadcast:

Thought for the Week

Thought for the Week: Democratising Copyright
Satya Nadella, CEO of Microsoft, has called for an overhaul of copyright legislation to recognise the broad span of human creativity. It is indeed time to re-align the balance between sharing knowledge and ring-fencing ownership, but the quid pro quo is to provide mass participation in the wealth creation made possible by Generative Artificial Intelligence. John Maynard Keynes' experience of the two world wars of the 20th century showed how complacent attitudes amongst the wealthy led to these tragedies, and Gillian Tett has drawn a parallel with today's cocktail of globalisation, capitalism and rapid technological development. The Achilles' heel is still acute wealth polarisation, but mass participation could provide a way forward. Background music: 'Intellect' by Yung Logos
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Gavin Oldham

Thought for the Week: Egalitarian Capitalism should replace Socialism

Gavin Oldham
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Thought for the Week

Thought for the Week: Egalitarian Capitalism should replace Socialism
Most of us believe in personal freedom within a fairer society, but that combination isn't currently on offer from any of the political parties seeking your vote. It is, however possible — but you need to start young. Reducing the voting age to 16 might help a bit, but a more egalitarian way forward for capitalism calls for starter capital accounts and incentivised learning for disadvantaged young people. Then, you need to do something about wealth concentration brought about by the tech giants. Background music: 'Freedom' by Dan Lebowitz
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Gavin Oldham

Thought for the Week: AI raises the urgency for disintermediated participation

Gavin Oldham
Original Broadcast:

Thought for the Week

Thought for the Week: AI raises the urgency for disintermediated participation
Professor Hinton, the 'godfather of AI' warns that the challenges of Artificial Intelligence are not just economic but also strategic. His quotation of Putin shows clearly the need for a convergent approach towards these risks. And remember the Bletchley conference just six months ago? The scientists have lost no time in preparing their interim report, but there's much to be done in planning the best way forward. Background music: 'Metamorphosis' by Quincas Moreira
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Gavin Oldham

Thought for the Week: New Approach needed for Bequests

Gavin Oldham
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Thought for the Week

Thought for the Week: New Approach needed for Bequests
The birth rate is falling swiftly, leaving wealthy old folk with their ever greater reserves looking for a home. Meanwhile Professor Eric French and his colleagues ask, 'Why Do Retired Households Draw Down Their Wealth So Slowly?', showing how in the United States 80% of bequests are left to an ever-decreasing number of descendants, and just 2% to charity. It's time for a re-think whose purpose is inter-generational rebalancing. Background music: 'Young And Old Know Love' by Puddle of Infinity
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Gavin Oldham

Thought for the Week: What's required for a good start to adult life

Gavin Oldham
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Thought for the Week

Thought for the Week: What's required for a good start to adult life
Much like Sir Keith Joseph, Michael Gove provides intellectual stimulus for the Conservative Party. 'Breaking the cycle of deprivation' was Keith Joseph's strategy in the mid-70s, but after 32 years of Conservative governments there's little progress to show. Is Michael Gove just talking about housing or can he tackle the wider issue, including unclaimed Child Trust Funds? Background music: 'Waiting' by Andrew Langdon
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Gavin Oldham

Thought for the Week: Participation for All

Gavin Oldham
Original Broadcast:

Thought for the Week

Thought for the Week: Participation for All
Huge disparities in wealth lie at the heart of most of humanity's problems, including conflict. The route towards participation for all relies on respect for others, however different, and individual freedom: then the respective needs of adults and young people can be met through 'Stock for Data' and inter-generational rebalancing. Here's a summary report from Share Alliance and The Share Foundation of progress in both these areas over the past year. Background music: 'Hopeful Freedom' by Asher Fulero
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