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18th century Europe isn't a good benchmark for our living standards

March 06, 2025
Wealth Inequality Enough is Enough Tax Wealth Not Work Economics of Covid Rich get Richer Poor get Poorer Economics Explained Tax the Rich End Austerity Billionaire Poverty
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so<00:00:00.120> the<00:00:00.240> average<00:00:00.599> person<00:00:01.560> now<00:00:02.040> under<00:00:02.639> the

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so the average person now under the

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so the average person now under the system<00:00:03.120> of<00:00:03.560> capitalism<00:00:04.560> uh<00:00:04.680> has<00:00:04.799> a<00:00:04.960> living

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system of capitalism uh has a living

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system of capitalism uh has a living standard<00:00:06.040> which<00:00:06.319> exceeds<00:00:07.279> that<00:00:07.560> of<00:00:07.720> an<00:00:08.000> 18th

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standard which exceeds that of an 18th

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standard which exceeds that of an 18th century<00:00:09.400> Monarch<00:00:10.400> uh<00:00:10.559> and<00:00:10.800> therefore<00:00:11.200> hence

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century Monarch uh and therefore hence

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century Monarch uh and therefore hence why<00:00:11.639> I<00:00:11.759> say<00:00:11.920> to<00:00:12.040> you<00:00:12.160> that<00:00:12.320> capitalism<00:00:13.160> is<00:00:13.320> a

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why I say to you that capitalism is a

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why I say to you that capitalism is a Force<00:00:13.920> for<00:00:14.200> good<00:00:14.480> my<00:00:14.639> friends<00:00:15.320> what<00:00:15.480> we<00:00:15.639> need

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Force for good my friends what we need

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Force for good my friends what we need is<00:00:16.720> to<00:00:17.439> understand<00:00:17.800> what<00:00:17.920> is<00:00:18.119> happening

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is to understand what is happening

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is to understand what is happening economically

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economically

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economically increasingly<00:00:22.240> the<00:00:22.480> average<00:00:22.920> person<00:00:23.199> in<00:00:23.359> this

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increasingly the average person in this

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increasingly the average person in this country<00:00:24.640> struggles<00:00:25.199> to

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country struggles to

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country struggles to simultaneously<00:00:27.160> feed<00:00:27.560> their<00:00:27.760> kids<00:00:28.039> and<00:00:28.160> turn

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simultaneously feed their kids and turn

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simultaneously feed their kids and turn the<00:00:28.480> heating<00:00:28.840> on<00:00:30.320> which<00:00:30.439> I<00:00:30.560> don't<00:00:30.679> know

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the heating on which I don't know

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the heating on which I don't know whether<00:00:31.039> that<00:00:31.119> was<00:00:31.240> a<00:00:31.359> problem<00:00:31.560> for<00:00:31.679> an<00:00:31.800> 18th

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whether that was a problem for an 18th

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whether that was a problem for an 18th century<00:00:32.439> monac<00:00:32.800> or<00:00:32.920> not<00:00:33.160> watch<00:00:33.440> my<00:00:33.600> videos

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century monac or not watch my videos

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century monac or not watch my videos from<00:00:34.079> 2020<00:00:34.640> where<00:00:34.760> I<00:00:34.920> predicted<00:00:35.640> an<00:00:35.800> explosion

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from 2020 where I predicted an explosion

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from 2020 where I predicted an explosion in<00:00:36.320> inflation<00:00:37.079> an<00:00:37.280> explosion<00:00:37.640> in<00:00:37.840> equality<00:00:38.399> a

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in inflation an explosion in equality a

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in inflation an explosion in equality a collapse<00:00:38.840> in<00:00:38.960> living<00:00:39.399> standards<00:00:40.399> the<00:00:40.520> reason

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collapse in living standards the reason

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collapse in living standards the reason those<00:00:41.000> predictions<00:00:41.360> were<00:00:41.600> good<00:00:42.320> is<00:00:42.559> because

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those predictions were good is because

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those predictions were good is because it's<00:00:43.120> the<00:00:43.280> same<00:00:43.520> reason<00:00:43.960> I've<00:00:44.079> got<00:00:44.200> a<00:00:44.320> track

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it's the same reason I've got a track

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it's the same reason I've got a track record<00:00:44.760> of<00:00:44.840> making<00:00:45.079> correct<00:00:45.360> economic

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record of making correct economic

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record of making correct economic predictions<00:00:46.000> for<00:00:46.199> 15<00:00:46.520> years<00:00:47.120> because<00:00:47.360> I'm

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predictions for 15 years because I'm

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predictions for 15 years because I'm good<00:00:48.120> at<00:00:48.280> this<00:00:48.800> and<00:00:48.920> I<00:00:49.039> could<00:00:49.320> go<00:00:50.320> I<00:00:50.440> could<00:00:50.640> go

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good at this and I could go I could go

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good at this and I could go I could go and<00:00:51.000> I<00:00:51.120> could<00:00:51.360> get<00:00:51.520> paid<00:00:51.760> 22<00:00:51.960> million<00:00:52.440> a<00:00:52.559> year

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and I could get paid 22 million a year

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and I could get paid 22 million a year working<00:00:53.120> for<00:00:53.359> any<00:00:53.600> Investment<00:00:54.120> Bank<00:00:55.079> in

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working for any Investment Bank in

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working for any Investment Bank in Canary<00:00:55.600> WARF<00:00:55.879> in<00:00:55.960> the<00:00:56.079> city<00:00:56.760> and<00:00:56.920> I<00:00:57.120> cannot

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Canary WARF in the city and I cannot

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Canary WARF in the city and I cannot give<00:00:58.039> that<00:00:58.239> information<00:00:58.840> to<00:00:59.000> the<00:00:59.160> government

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give that information to the government

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give that information to the government for

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for

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for if<00:01:01.039> that<00:01:01.160> is<00:01:01.320> the<00:01:01.519> economic<00:01:01.920> system<00:01:02.239> that<00:01:02.359> you

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if that is the economic system that you

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if that is the economic system that you build<00:01:03.120> you<00:01:03.359> cannot<00:01:03.680> be<00:01:03.920> surprised<00:01:04.720> when<00:01:04.960> all

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build you cannot be surprised when all

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build you cannot be surprised when all of<00:01:05.239> the<00:01:05.439> economists<00:01:06.400> are<00:01:06.600> wrong<00:01:06.880> about

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of the economists are wrong about

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of the economists are wrong about everything<00:01:07.960> all<00:01:08.119> of<00:01:08.240> the<00:01:08.360> good<00:01:08.520> Traders<00:01:09.080> know

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everything all of the good Traders know

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everything all of the good Traders know inequality<00:01:10.159> is<00:01:10.320> destroying<00:01:10.680> the<00:01:10.799> economy<00:01:11.320> and

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inequality is destroying the economy and

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inequality is destroying the economy and they<00:01:11.560> don't<00:01:11.759> say<00:01:11.960> anything<00:01:12.280> because<00:01:12.400> they<00:01:12.520> get

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they don't say anything because they get

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they don't say anything because they get paid<00:01:12.920> millions<00:01:13.240> of<00:01:13.360> pounds<00:01:13.560> a<00:01:13.680> year<00:01:13.799> notzi