Listen,<00:00:00.480> the<00:00:00.640> last<00:00:00.880> 70<00:00:01.120> years<00:00:01.280> are<00:00:01.439> not

Listen, the last 70 years are not

Listen, the last 70 years are not normal,<00:00:01.920> Stephen.<00:00:02.560> The<00:00:02.720> last<00:00:02.879> 70<00:00:03.120> years<00:00:03.280> are

normal, Stephen. The last 70 years are

normal, Stephen. The last 70 years are not<00:00:03.600> normal.<00:00:04.000> The<00:00:04.240> last<00:00:04.400> 70<00:00:04.640> years<00:00:04.799> in<00:00:05.040> Europe

not normal. The last 70 years in Europe

not normal. The last 70 years in Europe and<00:00:05.440> the<00:00:05.600> US<00:00:05.839> where<00:00:06.080> ordinary<00:00:06.560> people<00:00:06.720> like<00:00:06.879> my

and the US where ordinary people like my

and the US where ordinary people like my dad<00:00:07.600> could<00:00:07.680> work<00:00:07.839> for<00:00:08.000> the<00:00:08.160> post<00:00:08.400> office<00:00:08.800> on

dad could work for the post office on

dad could work for the post office on less<00:00:09.200> than<00:00:09.360> average<00:00:09.599> wage<00:00:09.920> and<00:00:10.160> buy<00:00:10.240> a<00:00:10.320> house

less than average wage and buy a house

less than average wage and buy a house and<00:00:10.719> support<00:00:10.880> a<00:00:10.960> family.<00:00:11.280> It's<00:00:11.440> not<00:00:11.599> normal.

and support a family. It's not normal.

and support a family. It's not normal. It's<00:00:12.160> not<00:00:12.320> normal<00:00:12.800> in<00:00:13.040> the<00:00:13.200> world<00:00:13.519> and<00:00:13.679> it's

It's not normal in the world and it's

It's not normal in the world and it's not<00:00:14.000> normal<00:00:14.240> in<00:00:14.480> history.<00:00:15.360> Most<00:00:15.679> countries<00:00:15.920> in

not normal in history. Most countries in

not normal in history. Most countries in the<00:00:16.160> world<00:00:16.240> are<00:00:16.400> not<00:00:16.560> like<00:00:16.720> that.<00:00:17.199> Most

the world are not like that. Most

the world are not like that. Most countries<00:00:17.840> have<00:00:18.000> a<00:00:18.400> a<00:00:18.560> small<00:00:18.800> super<00:00:19.119> rich

countries have a a small super rich

countries have a a small super rich elite<00:00:19.760> and<00:00:20.000> a<00:00:20.240> very<00:00:20.640> large<00:00:20.960> group<00:00:21.199> of

elite and a very large group of

elite and a very large group of extremely<00:00:21.840> poor<00:00:22.080> people.<00:00:22.320> That's<00:00:22.560> most<00:00:22.720> of

extremely poor people. That's most of

extremely poor people. That's most of the<00:00:23.119> country<00:00:23.439> and<00:00:23.680> it's<00:00:23.840> most<00:00:24.080> of<00:00:24.560> history<00:00:24.960> in

the country and it's most of history in

the country and it's most of history in this<00:00:25.359> country<00:00:25.519> and<00:00:25.760> it's<00:00:25.920> most<00:00:26.000> of<00:00:26.160> history<00:00:26.320> in

this country and it's most of history in

this country and it's most of history in the<00:00:26.640> US,<00:00:27.439> you<00:00:27.599> know.<00:00:28.560> Yeah,<00:00:28.880> we<00:00:29.039> talk<00:00:29.199> about

the US, you know. Yeah, we talk about

the US, you know. Yeah, we talk about Charles<00:00:29.599> Dickens.<00:00:29.920> I<00:00:30.080> read<00:00:30.320> Hard<00:00:30.640> Times.<00:00:31.359> I

Charles Dickens. I read Hard Times. I

Charles Dickens. I read Hard Times. I read<00:00:31.760> Hard<00:00:32.000> Times.<00:00:32.239> And<00:00:32.399> this<00:00:32.480> is<00:00:32.640> written<00:00:32.880> in

read Hard Times. And this is written in

read Hard Times. And this is written in the<00:00:33.200> 19th<00:00:33.600> century<00:00:33.840> when<00:00:34.160> Britain<00:00:34.480> was<00:00:34.640> like

the 19th century when Britain was like

the 19th century when Britain was like the<00:00:35.040> industrial<00:00:35.520> superpower<00:00:35.920> of<00:00:36.000> the<00:00:36.160> whole

the industrial superpower of the whole

the industrial superpower of the whole world.<00:00:36.880> And<00:00:37.040> at<00:00:37.200> the<00:00:37.440> time,<00:00:38.000> the<00:00:38.239> government

world. And at the time, the government

world. And at the time, the government was<00:00:38.719> talking<00:00:38.879> about<00:00:39.120> should<00:00:39.280> we<00:00:39.440> tax<00:00:39.680> these

was talking about should we tax these

was talking about should we tax these industrialists?<00:00:40.559> And<00:00:40.719> the<00:00:40.879> industrialists

industrialists? And the industrialists

industrialists? And the industrialists were<00:00:41.440> saying,<00:00:41.600> if<00:00:41.680> you<00:00:41.840> tax<00:00:42.079> us,<00:00:42.480> we'll<00:00:42.719> throw

were saying, if you tax us, we'll throw

were saying, if you tax us, we'll throw our<00:00:43.040> factories<00:00:43.360> into<00:00:43.520> the<00:00:43.680> sea.<00:00:44.480> And<00:00:44.960> it<00:00:45.280> just

our factories into the sea. And it just

our factories into the sea. And it just reminds<00:00:46.000> me,<00:00:46.320> you<00:00:46.520> know,<00:00:47.520> the<00:00:47.760> only<00:00:48.000> time

reminds me, you know, the only time

reminds me, you know, the only time we've<00:00:48.719> ever<00:00:48.960> really<00:00:49.280> been<00:00:49.440> able<00:00:49.600> to<00:00:49.840> provide

we've ever really been able to provide

we've ever really been able to provide decent<00:00:50.879> living<00:00:51.120> conditions<00:00:51.600> for<00:00:51.760> ordinary

decent living conditions for ordinary

decent living conditions for ordinary working<00:00:52.559> people<00:00:53.120> was<00:00:53.360> the<00:00:53.600> period<00:00:53.840> after<00:00:54.079> the

working people was the period after the

working people was the period after the war<00:00:54.559> where<00:00:54.719> we<00:00:54.879> massively<00:00:55.280> redistributed

war where we massively redistributed

war where we massively redistributed wealth.<00:00:56.239> and<00:00:56.399> and<00:00:56.640> now<00:00:56.800> we're<00:00:57.039> losing<00:00:57.680> that

wealth. and and now we're losing that

wealth. and and now we're losing that that<00:00:58.640> holding<00:00:59.039> of<00:00:59.199> wealth<00:00:59.520> in<00:00:59.760> of<00:00:59.920> the<00:01:00.079> middle

that holding of wealth in of the middle

that holding of wealth in of the middle class.<00:01:00.559> Can<00:01:00.719> you<00:01:00.800> acknowledge<00:01:01.199> though<00:01:01.359> that

class. Can you acknowledge though that

class. Can you acknowledge though that that<00:01:01.680> was<00:01:01.840> a<00:01:02.000> completely<00:01:02.320> different<00:01:02.640> time<00:01:03.120> as

that was a completely different time as

that was a completely different time as it<00:01:03.520> relates<00:01:03.680> to<00:01:03.840> being<00:01:04.000> able<00:01:04.159> to<00:01:04.559> It<00:01:04.720> was<00:01:04.879> a

it relates to being able to It was a

it relates to being able to It was a different<00:01:05.199> time<00:01:05.439> but<00:01:05.680> you<00:01:05.840> know<00:01:06.159> I<00:01:06.400> could<00:01:06.640> you

different time but you know I could you

different time but you know I could you know<00:01:06.960> because<00:01:07.119> of<00:01:07.600> Nigeria<00:01:08.080> today,<00:01:08.479> Brazil

know because of Nigeria today, Brazil

know because of Nigeria today, Brazil today,<00:01:09.520> the<00:01:09.760> UK<00:01:10.159> 300<00:01:10.479> years<00:01:10.640> ago,<00:01:10.960> France<00:01:11.360> 200

today, the UK 300 years ago, France 200

today, the UK 300 years ago, France 200 years<00:01:11.840> ago.<00:01:12.240> There<00:01:12.479> is<00:01:12.640> only<00:01:12.880> one<00:01:13.200> specific

years ago. There is only one specific

years ago. There is only one specific time<00:01:14.240> that<00:01:14.479> we<00:01:14.720> have<00:01:14.880> ever<00:01:15.280> successfully

time that we have ever successfully

time that we have ever successfully provided<00:01:16.640> broad<00:01:16.960> living<00:01:17.280> standards<00:01:17.680> for

provided broad living standards for

provided broad living standards for ordinary<00:01:18.320> people<00:01:18.799> and<00:01:18.960> it<00:01:19.119> was<00:01:19.200> a<00:01:19.439> period<00:01:19.600> of

ordinary people and it was a period of

ordinary people and it was a period of time<00:01:20.000> we<00:01:20.240> protected<00:01:20.880> a<00:01:21.200> broadly<00:01:21.680> equal<00:01:22.240> wealth

time we protected a broadly equal wealth

time we protected a broadly equal wealth distribution<00:01:23.119> and<00:01:23.520> taxed<00:01:23.840> the<00:01:24.080> rich<00:01:24.320> at<00:01:24.560> very

distribution and taxed the rich at very

distribution and taxed the rich at very high<00:01:24.960> rates.