The Rest Is Money
57. How to fix UK growth, why economists fail, and restructuring our economic institutions - Andy Haldane
May 12, 2024
Former Chief Economist of the Bank of England, Andy Haldane, discusses UK's growth issues, domestic investment needs, economist's crisis prediction abilities, and restructuring economic institutions. Topics include tax cuts debate, enhancing productivity, and a financial crisis with government bond rescue plan.
49:17
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Quick takeaways
- Balancing economic growth with social justice through long-term government investment in infrastructure is crucial for addressing productivity stagnation in the UK.
- Revising fiscal rules to allow strategic government investments in essential sectors like education and energy is necessary for sustainable economic development and growth.
Deep dives
Andy Haldane's Impactful Roles at the Bank of England
Andy Haldane, a key figure at the Bank of England, served in critical positions focusing on financial stability and as the chief economist. Tasked with preventing economic crises and advising on interest rate decisions, Haldane's unique insights stem from his upbringing in a working-class family during a challenging economic period. He credits a dedicated economics teacher for sparking his interest in economic policy, shaping his career path towards understanding and improving economic growth and job creation.
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