if<00:00:00.599> you're<00:00:00.719> a<00:00:00.900> Trader<00:00:01.199> and<00:00:01.319> you're<00:00:01.380> right<00:00:01.560> all

if you're a Trader and you're right all

if you're a Trader and you're right all the<00:00:01.860> time<00:00:01.979> you<00:00:02.399> get<00:00:02.460> paid<00:00:02.639> a<00:00:02.820> million<00:00:03.060> pound<00:00:03.179> if

the time you get paid a million pound if

the time you get paid a million pound if you're<00:00:03.780> a<00:00:03.899> Trader<00:00:04.200> and<00:00:04.319> you're<00:00:04.440> wrong<00:00:04.560> with

you're a Trader and you're wrong with

you're a Trader and you're wrong with the<00:00:04.860> time<00:00:05.040> you<00:00:05.700> get<00:00:05.819> fired<00:00:06.240> if<00:00:06.960> you're<00:00:07.080> in<00:00:07.259> the

the time you get fired if you're in the

the time you get fired if you're in the media<00:00:07.680> and<00:00:07.980> you're<00:00:08.160> right<00:00:08.400> A<00:00:09.240> year<00:00:09.420> later

media and you're right A year later

media and you're right A year later nobody<00:00:10.200> remembers<00:00:10.740> and<00:00:11.099> if<00:00:11.280> you're<00:00:11.460> in<00:00:11.700> the

nobody remembers and if you're in the

nobody remembers and if you're in the media<00:00:12.300> and<00:00:12.420> you're<00:00:12.540> wrong<00:00:12.719> A<00:00:13.139> year<00:00:13.320> later

media and you're wrong A year later

media and you're wrong A year later nobody<00:00:14.280> remembers<00:00:14.820> now

nobody remembers now

nobody remembers now the<00:00:16.440> problem<00:00:16.619> with<00:00:16.980> this<00:00:17.220> is

the problem with this is

the problem with this is it<00:00:18.960> creates<00:00:19.320> a<00:00:19.440> situation<00:00:19.859> where<00:00:20.160> if

it creates a situation where if

it creates a situation where if you<00:00:21.539> are<00:00:21.600> a<00:00:21.779> really<00:00:21.900> good<00:00:22.020> Economist<00:00:22.439> and<00:00:22.680> you

you are a really good Economist and you

you are a really good Economist and you keep<00:00:23.100> making<00:00:23.520> correct<00:00:23.939> predictions

keep making correct predictions

keep making correct predictions the<00:00:25.859> media<00:00:26.160> will<00:00:26.340> not<00:00:26.580> generally<00:00:26.939> push<00:00:27.300> you<00:00:27.420> to

the media will not generally push you to

the media will not generally push you to the<00:00:27.720> front<00:00:27.900> and<00:00:28.500> if<00:00:28.619> you<00:00:28.800> are<00:00:28.920> an<00:00:29.039> economist

the front and if you are an economist

the front and if you are an economist who<00:00:29.820> works<00:00:30.119> in<00:00:30.180> the<00:00:30.300> media<00:00:30.539> and<00:00:30.720> you're<00:00:31.140> bad

who works in the media and you're bad

who works in the media and you're bad you<00:00:31.500> make<00:00:31.679> very<00:00:31.859> bad<00:00:32.040> predictions<00:00:32.600> nobody's

you make very bad predictions nobody's

you make very bad predictions nobody's ever<00:00:33.719> going<00:00:33.899> to<00:00:33.960> call<00:00:34.079> you<00:00:34.260> out

ever going to call you out

ever going to call you out so<00:00:35.700> what<00:00:35.880> this<00:00:36.059> means<00:00:36.360> is<00:00:36.540> if<00:00:37.260> you<00:00:37.380> are<00:00:37.500> a

so what this means is if you are a

so what this means is if you are a really<00:00:37.800> good<00:00:37.920> Economist<00:00:38.280> and<00:00:38.460> you<00:00:38.640> want<00:00:38.760> to

really good Economist and you want to

really good Economist and you want to explain<00:00:38.940> to<00:00:39.180> people<00:00:39.300> what's<00:00:39.420> happening<00:00:39.719> in

explain to people what's happening in

explain to people what's happening in the<00:00:39.960> media

the media

the media how<00:00:41.520> do<00:00:41.579> you<00:00:41.700> do<00:00:41.820> it

how do you do it

how do you do it how<00:00:43.800> does<00:00:43.920> the<00:00:44.100> media<00:00:44.399> determine<00:00:44.879> who<00:00:45.719> gets

how does the media determine who gets

how does the media determine who gets the<00:00:46.079> important<00:00:46.379> jobs<00:00:46.559> and<00:00:46.860> and<00:00:47.160> who<00:00:47.820> gets

the important jobs and and who gets

the important jobs and and who gets ignored

ignored

ignored well<00:00:49.559> if<00:00:49.680> you<00:00:49.800> don't<00:00:49.920> have<00:00:50.039> a<00:00:50.219> system<00:00:50.399> that

well if you don't have a system that

well if you don't have a system that actively<00:00:51.660> finds<00:00:52.200> the<00:00:52.320> good<00:00:52.500> people<00:00:52.680> and

actively finds the good people and

actively finds the good people and actively<00:00:53.399> discourages<00:00:54.120> the<00:00:54.360> bad<00:00:54.539> people

actively discourages the bad people

actively discourages the bad people basically<00:00:55.980> you're<00:00:56.280> going<00:00:56.399> to<00:00:56.520> end<00:00:56.640> up<00:00:56.760> with

basically you're going to end up with

basically you're going to end up with the<00:00:57.660> people<00:00:57.780> who<00:00:58.020> know<00:00:58.199> the<00:00:58.379> right<00:00:58.500> people

the people who know the right people

the people who know the right people getting<00:00:58.980> into<00:00:59.219> the<00:00:59.399> best<00:00:59.520> jobs