William Davies, a sociologist and political economist from Goldsmiths University, dives into the UK’s economic challenges with host Tom. They discuss Labour's substantial tax increases and whether these measures can effectively stabilize public finances. The conversation tackles the tension between technocratic governance and populist pressures, the housing crisis amid rising inequality, and Labour's strategic outreach to financial giants like BlackRock. Davies questions if long-term economic plans will resonate with everyday voters facing immediate issues.
53:19
forum Ask episode
web_stories AI Snips
view_agenda Chapters
menu_book Books
auto_awesome Transcript
info_circle Episode notes
insights INSIGHT
UK Economic Slowdown
The UK's economic growth has slowed significantly since 2008, impacting productivity and prosperity.
Net immigration is one factor keeping GDP from total stagnation.
insights INSIGHT
Labour's Fiscal Strategy
Labour's fiscal rules aim for no increased borrowing for day-to-day spending and a reduced national debt.
This approach seeks to reassure creditors and avoid the mistakes of the Truss government.
insights INSIGHT
Balancing Markets and Voters
While Reeves and Starmer prioritize reassuring markets, they must also address voters' concerns.
Balancing these audiences is crucial for political success.
Get the Snipd Podcast app to discover more snips from this episode
In 'Nervous States: Democracy and the Decline of Reason,' William Davies examines the tension between technocratic government institutions based on reason, fact-finding, and scientific analysis, and the increasing influence of nationalistic sentiment characterized by a distrust of elite interests and a promotion of emotion over fact. The book delves into historical analysis and contemporary examples to illustrate how societies have created states that struggle to meet the expectations placed upon them due to economic and philosophical limitations. Davies also discusses the impact of the attention economy, moral outrage, and the exploitation of emotions in political discourse.
The happiness industry
How Government and Big Business Sold Us Well-Being
William Davies
In 'The Happiness Industry', William Davies explores how the concept of happiness has been transformed from a subjective personal experience into an objective, quantifiable phenomenon. The book delves into the historical roots of this transformation, tracing it back to Utilitarian philosophy and the early days of American psychology. Davies argues that this quantification of happiness has led to increased mental health problems, alienation, and manipulation by political and economic elites. He critiques the ways in which corporate and governmental forces use surveillance, targeted advertising, and psychological profiling to maintain a docile and economically efficient population. The book also examines the impact of these practices on workplace productivity, consumerism, and the broader social fabric[1][2][3].
William Davies joins Tom to assess the efforts of the new Labour government in tackling the UK's many economic challenges. They consider whether Rachel Reeves’s first budget, with its substantial tax rises, can do anything more than arrest the decline of the public finances, and what Keir Starmer hopes to achieve with his public overtures to the likes of Google and BlackRock. Will their technocratic style of government be able to survive the pressures of populist politics, or is their long-term thinking simply too long-term to bring election-winning improvements to people’s everyday lives?
The LRB Podcast 
