Here is a rough transcription of the presentation for people who are hard of hearing. Apologies for the lack of grammar, I am working to improve the automated transcriptions -
there are ridges Woden’s shares the and I will set up a brilliant rush today but hopefully you won’t notice the first clip art is how much is enough work money and the good life and its others will I take them as audio and put them on my MP3 it’s a lecture at the London School of economic cis ones by Maud Roberts skid else ski it was meant to be with his son but Morris Glassman comes in to be as offside in the presentation is so much to talk about it are Harlem I was really listening to write while riding around on my bike yesterday and just everything was controversial about it okay the idea is that Keynes 80 years ago wrote a piece where he said at the moment now 80 years hence we should be working 15 hours a week and are skid else ski is asking why the hell are we not okay right I move on and see how we go in the comment section of the magnificent blog called over the peak I’ve Cairo and the rotor arm to somebody at Irving was directly to Joe which is picked up on it that at time of going to press I prefer the system we have at the moment that’s the banking system it has much more invisible hand in it it is more bottom up its more bottom up system now, how can we got trouble with invisible hand because most people don’t quite understand what it is Adam Smith’s invisible hand are said it enough but it is used in the press normally in a different way not how I’d Smith wrote it the idea is that in a society that people make decisions about what happening there the classic examples are something like a bakery but it doesn’t really matter and you can expand it out to most all examples are two bakeries in the village and if one bakery is dirty people will go to the clean bakery the dirty bakery will be closed down it is that sort of thing or they don’t like the girl serving in one of them and just that it just my new little things the idea is it gives the power to all the idiosyncrasies of the people and gives more power to more of the people and the invisible hand is meant to describe anything that gives more power to more of the people that the trouble is that the other people have very strange idiosyncrasies so sometimes it will come up with more strange decisions but its free democracy whether we think that’s brilliant or not that is what it’s meant to describe where the people en masse by making millions of decisions per day each make things happen right so and that the moment are the Joe is one of Jones replies obviously he’s hand not giving up that easy nuns I’m just saying at time of going to press as in now on always open to more information to change the mystic mind it would use more if it’s not more bottom up system then why isn’t it working at present have good people are flocking stupid and because the people at the bottom don’t want any more money in the system or because the people at the bottom have too much debt thanks to whom privileged elite aristocrats creating the net national purchasing power yet Bottoms up to that of good choke thereby joke but that that’s what we’ve got the people have gone into banks and taking out taken out loans the bankers of sit sat there going kitchen junk junk in government loans it has been an invisible hand democratic thing that has gone on parking stupid that they made the decision’s back as opposed to what I get the idea I have not busy I don’t know all the ins and outs at adding that identity I’ve no half the ins and outs of Jones but it sounds like arm because we discussed it later how matter you what the next comment went to is because Joe’s idea is the Congress in the United States decide how much money should be put out per year something along those lines are a fit wrong Joe and I said what if you’d asked me 50 years ago I might be more tempted to say yes all right good idea let the Congress do it as that what we had a week or so ago that Robert Kennedy piece where it was nonsense he would thought probably was nonsense but it was the sort of mean nonsense that they were speaking at the time pride in the United States of America and the integrity of Congress at the mean that they were released speaking even if they went doing it so I could maybe think of giving the ground amount of money supply to going to the United States per year to be decided by those sort of people because that’s the sort of mean that they were at least spouting but this lot at the moment no chance okay and I prefer the people they bankers included to make mistakes and hopefully learn from their mistakes history tells us that what happens is that we do learn from our mistakes are for about 75 years something like that we do learn from our mistakes but we will remake them life right by Pentagon yes I was interweave this altogether more chapel bothered from the London film okay outright Johnny by the great power replying to my yesterday’s our presentation which was mostly about decision-making by people like you and me and that everybody and we are fallible and will make bad decisions or what turn out to be bad decisions down the line when with 2020 hindsight we look back upon just part of Johnny is quite long comment which was in his normal weight very nice well put together booming comment you have put brainpower into the comments good: sense and common courtesy would go a long way in solving many problems such as the water dilemma that you covered that we can not. As has been a mainstay of the economy in my area Johnny’s area the other big cash crop was tobacco but as the smart folks in public health and government have all but destroyed the local tobacco growers we now simply import most of what we smoke farm income from this crop has dropped dramatically so in the 1980s as local farmers looked for something to replace plunging tobacco and road crop revenues large-scale pig farming became an attractive alternative for many families thousands of hog houses sprang up around the countryside as family farmers scramble to find a way to generate income and was much before that and does much after that going into how that inevitably goes wrong as well stop in the tobacco it was at the top of decision with a moon change everybody smoked it was killing people and a campaigner top change the meme at the top and then had a meme sweep down to where we are now and we all think now that tobacco smoking is so stupid because it kills you all why do we think it’s bad mainly because it kills you what’s wrong with dying if you want to have any of these things are even about seat belts what’s wrong with dying that’s where you’ve got to start because what’s wrong with dying if that’s your decision you got the knowledge now from the tobacco companies yet it kills you the new smoke you say the Wallace passive smoking or I don’t like the smell of it that’s to be discussed seat belts you crash into somebody and kill somebody sister you’ve got to really know what I think what is so wrong with dying you say will arrive yourself you go crashing to a lamppost yourself but if you crash into some key sister your stopping her life the same question still arises what’s wrong with killing her what is she going to do that is going to be so bloody brilliant at I don’t think many of these questions can be answered unless you got a good grasp on the absolute basics of life like that now prefer a runaway with myself I throw myself back to the lecture by Lord Roberts adult ski author of a three biography three volume biography of Lord Keynes Maynard Keynes and who in a question-and-answer session afterwards was being asked about more people taking more decisions upon themselves and how it could work in this society that we have that run away corporatism and basically he’s obviously originally just personal essay is out either obviously is where he is realised that religion has to be in the people’s hearts or it won’t work you cannot have the people with our corporatism capitalism sort of thing in their mind and expect them to be sensible all responsible invisible hand controlling things because they’ll just do parking stupid things he says the only way would be to have home bonding force which probably would be looking at the past the only thing that strong enough would be a religious binding bonding of some sort of thing the religious thing would give us the answer to the question what we’re living for and then from that would be able to build up to why we should stop smoking why we should wear seat belts etc but without that am I agree with skin healthy that we really cannot be trusted in a democratic way to make responsible decisions in this corporate capitalist world but then neither can the elite top be trusted to tell us what to do as long as the corporate test capitalist advertising world dominates none of us can be trusted with ourselves because we are mere very frail humane beings good timing by
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