Austin Hughes in Podcasts
personIrish economist and commentator on economic matters.
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And if I could ask you in 30 seconds, Austin, on the other hand, don't we have a highly, highly progressive tax system to enable transfer payments to happen within the country too?
I think that there might possibly be a silent, huge influence in the fact that we're now dealing with a massive intergenerational wealth transfer as well, Austin.
Well, when you talk about how much people are likely to spend at Christmas, I saw this from Moody's, Austin, that the percentage of overall spending done by the top 10% of the socioeconomic spectrum has risen from 36% to nearly half since 1989.
Austin, the K-shaped economy, it's a phrase I've heard over and over and over again in 2025, particularly actually in the US.
Austin Hughes, economist, joins me to discuss this more.
Austin Hughes, good morning.
Good morning, Austin.
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