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Full Disclosure with James O'Brien
Gary Stevenson: Why I gave up making millions as a City trader to fight wealth inequality
Mar 1, 2024
Gary Stevenson recounts how he went from a successful City trader to a wealth inequality crusader, reflecting on the moral implications of profiting from economic collapse. He challenges the societal obsession with money and advocates for a more equitable distribution to combat wealth inequality.
57:41
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Quick takeaways
- Wealth inequality exacerbates societal issues and requires urgent attention for a fairer distribution of resources.
- Strategic investments based on predicting wealth distribution dynamics can yield financial gains in volatile markets.
Deep dives
Critique of Economic Inequality Discourse
The speaker discusses the urgent need to address economic inequality and the lack of media attention towards this issue. Highlighting the enormous sums of money distributed by governments during the COVID-19 pandemic, the speaker emphasizes how this transfer of wealth disproportionately benefits the rich. Drawing on their own predictions and experiences in trading, the speaker criticizes the focus on representative agent models in economics, highlighting the blind spot regarding wealth distribution that leads to incorrect predictions and exacerbates inequality.
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