2min chapter

Hidden Forces cover image

The New Political-Economy | Russell Napier, Edward Chancellor, & Helen Thompson

Hidden Forces

CHAPTER

The Role of Interest Rates in Social Discontent

Low interest rates diminish the Schumpeterian creative destructive destruction forces in an economy. They lead to the misallocation of capital, contribute to low productivity growth and low income growth. At the same time, these wealth bubbles benefit those who either possess wealth to begin with or older generation. And they disadvantage younger generation and people who don't own assets. So if you put that together, low income growth and rising inequality on the back of asset price inflation, you then get a rising discontent with a market-based system.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode