Michael Blastland
speaker
745 appearances
4 recordings
1 series
first heard Mar 2011
last heard Aug 2011
Michael Blastland’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
And he was studying economics at the LSC, the London School of Economics, and he didn't really understand it.
And he went to see his tutor as a young student and said, I don't really understand economics, but I understand plumbing.
I think the two are the same set of equations, and I can build you a set of plumbing kit that will solve your equations.
And to the eternal credit of this supervisor, they said, go on then, rather than get out of my office, Sonny Jim.
And this is what Phillips came up with.
What do you think, Alan?
Do you think it, I mean, I know it works, but does it work as a representation of the economy?
It definitely works as a model of the Keynesian theory of the economy, and it solves the equations of John Maynard Keynes very precisely within 4% and so forth.
But whether the Keynesian view of the economy is the correct one is a question for an economist.
Let's switch it on.
Tell us what you're doing, Alan.
A few adjustments going on here.
I'm just balancing the budget.
Very easy.
Oh, that seems to be long.
David Cameron should give you a job.
How did you do it?
You just balance the taxation income from the government with the government expenditure at the bottom there, so those two valves have to be the same setting.
So essentially you're just making sure the same amount of water pours in as pours out?
Yes, it needn't be.
Showing 401–420 of 745 · page 21 of 38
← Previous
Next →