Is neoliberalism finished, and what comes next? A conversation with Larry Elliott

Video Description

The UK is stuck in a self-inflicted fiscal trap. Larry Elliott, former Guardian Economics Editor and my co-author in the Green New Deal, joins me to explain why Rachel Reeves’ rulebook is economic guesswork, how the Bank of England is failing to control inflation and why capital controls could help rebuild Britain’s productive economy. Plus, the technology hype cycle, the risk of an AI bubble, and where new political leadership might emerge to take us beyond neoliberalism. And in all that, a message of hope. 00:00 – Introduction: Larry Elliott joins the podcast 02:00 – Rachel Reeves and the trap of fiscal rules 05:30 – The OBR and the limits of economic policy 09:00 – Measuring real outcomes: poverty, inequality, and climate 12:30 – The Bank of England and the myth of inflation control 16:00 – Technology, stagnation, and inequality 19:30 – The AI bubble and financial instability 22:00 – The failures of monetary policy and financial regulation 25:00 – Capital controls and stabilising the economy 28:00 – Wealth, taxation, and fair contribution 30:00 – Larry Elliott’s new book: Making Good 32:00 – Optimism, change, and the path forward TRANSCRIPT A transcript for this video is available at: https://www.taxresearch.org.uk/Blog/2025/10/29/larry-elliott-on-fiscal-failure-technological-anxiety-and-cautious-optimism/ IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. https://www.taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp/ HOW TO SUPPORT US Please consider donating: https://ko-fi.com/taxresearch ABOUT RICHARD MURPHY Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’. This video was edited by Thomas Murphy. RICHARD MURPHY ON BLUESKY: https://bsky.app/profile/richardjmurphy.bsky.social OR ON MY BLOG: http://www.taxresearch.org.uk/Blog/ HIT SUBSCRIBE & GET NOTIFICATIONS Subscribe and get notified of new videos released. INTRODUCTION: https://www.youtube.com/watch?v=HdHsRPy3060 PLAYLISTS: The Wealth Series https://www.youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD Ecenomics https://www.youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4 Britain https://www.youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10 Tax https://www.youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY MMT https://www.youtube.com/playlist?list=PLvRueM6wBgoZ6jvRGSW5YXu8qogE6aClX Money https://www.youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m Climate Change https://www.youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ USA https://www.youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H Labour https://www.youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw The Trump Administration https://www.youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx #Economics #PoliticalEconomy #LarryElliott #FundingTheFuture #UKEconomy #RachelReeves #FiscalRules #BankOfEngland #GreenNewDeal #EconomicPolicy #WealthTax #CapitalControls #Neoliberalism #EconomicReform #AIBubble #FinancialCrisis #Inequality #IndustrialStrategy #MonetaryPolicy #progressiveeconomics This channel covers the latest UK and global economic news, analysing policy from the Bank of England, the Treasury, and government decisions that shape everyday life. We explore issues around inflation, taxation, public spending, and inequality — explaining what they mean for business, households, and the wider economy. Regular topics include GDP, interest rates, fiscal policy, government borrowing, and how decisions in Westminster, Washington, and beyond affect living standards. Subscribe for evidence-based economic commentary, daily news reactions, and updates on Budget 2025, wealth tax debates, housing markets, and the cost of living.