Why asset managers own the world

Almost three million people in the UK are unemployed and unable to work because they are ill or disabled. According to the right-wing media, these people aren’t nearly as unwell as they claim. Meanwhile a UN committee warned that disabled people in the UK are subjected to a “traumatising” benefits system. We have a social security system that’s been stripped to the bone and millions of people are struggling to afford the essentials as a result, yet both of the main political parties are desperate to be seen as “tough on benefits”. So what’s gone wrong with our social security system? Why are politicians so intent on alienating those who rely on it? And how can we build a system that gives everyone the support they need? Ayeisha Thomas-Smith is joined by Kaliya Franklin, freelance disability policy expert and campaigner, and Mikey Erhardt, campaigner at Disability Rights UK. ------- Music: Thoughtful by Lee Rosevere, Free Music Archive: https://freemusicarchive.org/music/lee-rosevere/music-for-podcasts-serious/thoughtful-2/, used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney, Margaret Welsh and James Rush The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Britain’s favourite broadcaster David Attenborough once said: “Anyone who thinks you can have infinite growth in a finite environment is either a madman - or an economist.” But our political leaders don’t seem to agree. Both our major political parties have made growing the economy a key metric for their success in government. So what is economic growth? How did it become so central to our understanding of the economy? And should we really be striving for infinite growth on a finite planet? Ayeisha Thomas Smith is joined by Kate Raworth, economist and author of Doughnut Economics, and Michael Jacobs, professor of political economy at the University of Sheffield. ------- Music: Under Suspicion by Lee Rosevere, Free Music Archive: https://freemusicarchive.org/music/lee-rosevere/music-for-podcasts-serious/under-suspicion/, used under Creative Commons licence: creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney, Margaret Welsh and James Rush The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

We’re waiting longer than ever for hospital appointments, our kids’ schools are literally crumbling, and homelessness has sky-rocketed in the past year. This week’s spring budget was a vital chance for chancellor Jeremy Hunt to respond to the huge problems our country is facing. But instead of trying to fix any of our problems, the chancellor announced a cut to national insurance that will benefit the richest households twelve times more than the poorest. So what do Jeremy Hunt’s announcements mean for people across the UK? Why are the opposition talking about maxed out credit cards? And what needs to happen to save our public services and boost living standards for all? Ayeisha Thomas Smith is joined by Hannah Peaker, director of policy at the New Economics Foundation, and Lydia Prieg, head of economics at the New Economics Foundation ----- Music by Podington Bear, used under Creative Commons licence: creativecommons.org/licenses/by-nc/3.0/. Produced by Katrina Gaffney, Margaret Welsh and James Rush The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

Worried about your carbon emissions? Don’t stress! You can pump out as much as you want - as long as you buy some offsets to balance it out. Scared of the collapse of wildlife? No problem! We can figure out how much money our ecosystems are worth, and let the market do the rest! Welcome to the logic of green capitalism. Fossil fuel giants claim to celebrate sustainability while pumping out toxic emissions. Governments are relying on carbon offsets to make their climate promises add up. And we’re told that we can fight the climate crisis with the magic of economic markets. Why have corporations got so interested in sustainability? Will carbon offsets save us - or are they just a cute accounting trick? And if wind and solar energy are so cheap, why haven’t we embraced them? Ayeisha Thomas-Smith is joined by Adrienne Buller, author of The Value of a Whale: On the illusions of green capitalism, and Brett Christophers, author of The Price is Wrong: Why capitalism won’t save the planet. ------- Music by Serge Quadrado, used under Creative Commons licence: https://creativecommons.org/licenses/by-nc/4.0/. Produced by Katrina Gaffney, Margaret Welsh and James Rush The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

It’s 2024 and in Westminster an election is at the forefront of everyone’s minds. Step back a little further and across the UK millions of us are more concerned with how we’ll afford to pay their sky-high rent or energy bills. Zoom out further again and we see a world where billions of people are reckoning with the threat of the climate crisis. For the first episode in a new series of the New Economics podcast, Ayeisha is joined by the new chief executive of the New Economics Foundation, Danny Sriskandarajah, to discuss the biggest challenges facing the world and how we can win a new global economy. ----- Music by Podington Bear, used under Creative Commons licence: https://creativecommons.org/licenses/by-nc/3.0/. Produced by Katrina Gaffney, Margaret Welsh and James Rush The New Economics Podcast is brought to you by the New Economics Foundation. Find out more about becoming a NEF supporter at: https://neweconomics.org/donate/build-a-better-future New Economics Foundation is a registered charity in England and Wales. Charity No. 1055254

The Metropolitan Police’s diversity and inclusion strategy claims it is determined to “eliminate racism and discrimination”. But the force was branded ‘institutionally racist’, and not for the first time, in an official report this spring. Recently, a Met firearms officer has been referred to prosecutors on a potential murder charge for shooting dead Black Londoner Chris Kaba last September. So, what does racism have to do with our 21st century economic system? How can we understand institutions who uphold racism while claiming to value diversity and inclusion? And what does it mean to truly be anti-racist? For the final episode of this series, Ayeisha is joined by Arun Kundnani to discuss his new book, What Is Antiracism?: And Why It Means Anticapitalism. Grab a copy of Arun's book here: https://www.versobooks.com/en-gb/products/2670-what-is-antiracism ----- Music by Chris Zabriskie and Podington Bear, used under Creative Commons licence. Produced by Becky Malone, Margaret Welsh and Katrina Gaffney. Enjoying the show? Tweet us your comments and questions @NEF! The New Economics Podcast is brought to you by the New Economics Foundation. Find out more at www.neweconomics.org

This spring, swimmers in Kent were told to avoid ten beaches in the county due to sewage leaks. Public outrage at sewage pouring into our rivers and beaches has so far focused on water companies. But is someone else to blame? The pipes that carry sewage in Kent are not owned by Southern Water, or even Kent County Council. They belong to a massive Australian asset management firm that most of us have never heard of. Asset management firms are not household names, but they’ve come to own our energy systems, hospitals, schools, and even the pipes that supply our drinking water. So who are these shadowy companies? What even is asset management? And why are they buying up the things we need to keep our society going? Ayeisha Thomas-Smith is joined by political economist and economic geographer Brett Christophers to discuss his new book Our Lives in Their Portfolios: Why Asset Managers Own the World. Grab a copy of the book here: https://www.versobooks.com/en-gb/products/2985-our-lives-in-their-portfolios-why-asset-managers-own-the-world ----- Music by Chad Crouch and Podington Bear, used under Creative Commons licence. Produced by Becky Malone, Margaret Welsh and Katrina Gaffney. Enjoying the show? Tweet us your comments and questions @NEF! The New Economics Podcast is brought to you by the New Economics Foundation. Find out more at www.neweconomics.org

The friend who has to cancel plans to look after their elderly mum. The colleague who leaves their phone on loud so they don’t miss a call about their disabled child. The neighbour you’ve barely seen since their partner’s diagnosis. We’re surrounded by people who are dealing with the challenges of caregiving, but they often go unseen. According to Carers UK, there could be over ten million people providing unpaid care in the UK. We’ll all have to care for someone or be cared for over the course of our lives. So why are the challenges caregivers face so overlooked? And how can we build a system that supports their wellbeing? Ayeisha Thomas-Smith is joined by writer and activist Emily Kenway to discuss her new book Who Cares: the hidden crisis of caregiving and how we solve it. Grab a copy of the book, out now: https://uk.bookshop.org/p/books/who-cares-the-hidden-crisis-of-caregiving-and-how-we-solve-it-emily-kenway/5956477?ean=9781472288486 ----- Music by Chris Zabriskie and Podington Bear, used under Creative Commons licence. Produced by Becky Malone, Margaret Welsh and Katrina Gaffney. Enjoying the show? Tweet us your comments and questions @NEF! The New Economics Podcast is brought to you by the New Economics Foundation. Find out more at www.neweconomics.org

As the chancellor stood up in Parliament to present his spring budget in March, half a million people went on strike to demand better from their bosses. Teachers, junior doctors, Tube drivers, civil servants and more all walked out of work, in the biggest day of strike action in over a decade. As the strikes rumble on into another summer, how can workers keep up the momentum? Will new legislation make it harder to fight for better pay and working conditions? And should more of us be trying to unionise our workplaces? Ayeisha Thomas-Smith is joined by workplace organiser Lydia Hughes and researcher Jamie Woodcock, authors of Troublemaking: why you should organise your workplace. Grab a copy of Troublemaking: Why You Should Organise Your Workplace – out now www.versobooks.com/en-gb/products/2889-troublemaking ----- Music by Podington Bear, used under Creative Commons licence. Produced by Becky Malone, Margaret Welsh and Katrina Gaffney. Enjoying the show? Tweet us your comments and questions @NEF! The New Economics Podcast is brought to you by the New Economics Foundation. Find out more at www.neweconomics.org

Nurses struggling without PPE, the frantic search for hospital ventilators, even the dreaded ping from NHS test-and-trace. To most of us, these memories represent some of the worst of the Covid pandemic. But for a select few companies, they were an opportunity to make millions. Consultancy firms won over seven hundred million pounds worth of government Covid contracts to do things like run the test-and-trace system and vaccine rollout. This February, ministers dropped restrictions on Whitehall spending on consultants, allowing these firms to potentially rake in millions more. So why is the government so dependent on consultants? Whose interests do they serve? And how worried should we be about their effect on public life? Ayeisha Thomas-Smith is joined by Rosie Collington, co-author of 'The Big Con: How the Consultancy Industry Weakens Our Businesses, Infantilises Our Governments and Warps Our Economies'. Grab a copy of The Big Con out now https://www.penguin.co.uk/books/451193/the-big-con-by-collington-mariana-mazzucato-and-rosie/9780241573082 ----- Music by A. A. Aalto and Podington Bear, used under Creative Commons licence. Produced by Becky Malone, Margaret Welsh and Katrina Gaffney. Enjoying the show? Tweet us your comments and questions @NEF! The Weekly Economics Podcast is brought to you by the New Economics Foundation. Find out more at www.neweconomics.org