it<00:00:01.140> goes<00:00:01.500> a<00:00:01.620> lot<00:00:01.740> deeper<00:00:02.159> than<00:00:02.399> simply<00:00:02.700> rich

it goes a lot deeper than simply rich

it goes a lot deeper than simply rich people<00:00:03.060> in<00:00:03.240> government<00:00:03.360> who<00:00:03.600> don't<00:00:03.720> give<00:00:03.840> a

people in government who don't give a

people in government who don't give a [ __ ]

[ __ ]

[ __ ] there<00:00:05.279> is<00:00:05.400> a<00:00:05.580> problem<00:00:05.759> of<00:00:06.240> our<00:00:06.540> Economic

there is a problem of our Economic

there is a problem of our Economic Institutions<00:00:07.620> are<00:00:08.400> intellectually<00:00:09.000> bankrupt

Institutions are intellectually bankrupt

Institutions are intellectually bankrupt and<00:00:10.559> I<00:00:10.679> I<00:00:11.160> that<00:00:11.639> sounds<00:00:11.760> extreme<00:00:12.179> but<00:00:12.420> listen

and I I that sounds extreme but listen

and I I that sounds extreme but listen I've<00:00:13.139> got<00:00:13.500> a<00:00:13.620> degree<00:00:13.799> from<00:00:13.980> LSC<00:00:14.400> I've<00:00:14.580> got<00:00:14.639> a

I've got a degree from LSC I've got a

I've got a degree from LSC I've got a degree<00:00:14.940> from<00:00:15.059> Oxford<00:00:15.420> I've<00:00:15.719> worked<00:00:16.080> I've<00:00:16.379> been

degree from Oxford I've worked I've been

degree from Oxford I've worked I've been in<00:00:16.680> think<00:00:16.800> tanks<00:00:17.279> I've<00:00:17.460> been<00:00:17.640> in<00:00:17.940> the<00:00:18.060> city

in think tanks I've been in the city

in think tanks I've been in the city I've<00:00:18.840> been<00:00:19.020> in<00:00:19.199> economics<00:00:19.740> for

I've been in economics for

I've been in economics for 18<00:00:21.600> years<00:00:21.900> now<00:00:22.080> in<00:00:22.500> many<00:00:22.680> different<00:00:22.859> spaces

18 years now in many different spaces

18 years now in many different spaces my<00:00:24.779> honest<00:00:25.019> opinion<00:00:25.439> is<00:00:25.800> that<00:00:26.100> economics<00:00:26.820> is

my honest opinion is that economics is

my honest opinion is that economics is intellectually<00:00:27.779> bankrupt<00:00:28.320> as<00:00:28.500> a<00:00:28.680> discipline

intellectually bankrupt as a discipline

intellectually bankrupt as a discipline that<00:00:29.699> most<00:00:29.880> of<00:00:30.060> what<00:00:30.180> they<00:00:30.359> do<00:00:30.539> is<00:00:31.080> a<00:00:31.260> complete

that most of what they do is a complete

that most of what they do is a complete waste<00:00:31.980> of<00:00:32.040> time<00:00:32.220> most<00:00:32.700> of<00:00:32.880> these<00:00:33.000> guys<00:00:33.180> it

waste of time most of these guys it

waste of time most of these guys it would<00:00:33.600> be<00:00:33.660> better<00:00:33.840> off<00:00:34.020> if<00:00:34.260> we<00:00:34.440> just<00:00:34.680> sent<00:00:35.160> them

would be better off if we just sent them

would be better off if we just sent them out<00:00:35.460> of<00:00:35.579> the<00:00:35.579> country<00:00:35.760> and<00:00:35.940> started<00:00:36.239> again

out of the country and started again

out of the country and started again because<00:00:37.380> they<00:00:37.860> are<00:00:38.100> absolutely<00:00:39.059> tied<00:00:39.660> to<00:00:40.500> a

because they are absolutely tied to a

because they are absolutely tied to a set<00:00:40.800> of<00:00:40.920> models<00:00:41.399> that<00:00:41.700> have<00:00:41.820> no<00:00:42.059> distribution

set of models that have no distribution

set of models that have no distribution in<00:00:42.780> them<00:00:42.960> keep<00:00:43.440> predicting<00:00:43.860> things<00:00:44.040> will<00:00:44.219> get

in them keep predicting things will get

in them keep predicting things will get better<00:00:44.579> things<00:00:45.360> keep<00:00:45.600> getting<00:00:45.780> worse<00:00:46.140> and

better things keep getting worse and

better things keep getting worse and they<00:00:46.500> will<00:00:46.680> never<00:00:46.800> figure<00:00:47.040> it<00:00:47.340> out<00:00:47.340> they<00:00:48.059> will

they will never figure it out they will

they will never figure it out they will never<00:00:48.360> figure<00:00:48.539> it<00:00:48.719> out<00:00:48.780> because<00:00:49.079> it<00:00:49.800> is<00:00:49.980> in

never figure it out because it is in

never figure it out because it is in their<00:00:50.520> blood<00:00:50.879> to<00:00:51.660> not<00:00:51.960> consider<00:00:52.440> the

their blood to not consider the

their blood to not consider the distribution

distribution

distribution add<00:00:54.539> to<00:00:54.719> that<00:00:54.840> they're<00:00:54.960> getting<00:00:55.079> [ __ ]<00:00:55.440> paid

add to that they're getting [ __ ] paid

add to that they're getting [ __ ] paid for<00:00:55.800> it<00:00:55.920> they're<00:00:56.280> not<00:00:56.460> the<00:00:56.579> guys<00:00:56.699> getting<00:00:56.820> hurt