good morning I recently visited Yemen and in Yemen I met a young woman called
and in Yemen I met a young woman called
and in Yemen I met a young woman called Amina she was in her early 20s she
Amina she was in her early 20s she
Amina she was in her early 20s she looked a lot older than those of you in
looked a lot older than those of you in
looked a lot older than those of you in the audience she felt the cares of the
the audience she felt the cares of the
the audience she felt the cares of the world she was the sole carer for her two
world she was the sole carer for her two
world she was the sole carer for her two younger siblings she worked when she
younger siblings she worked when she
younger siblings she worked when she could in her neighbours farms fields in
could in her neighbours farms fields in
could in her neighbours farms fields in their houses but she had no reliable
their houses but she had no reliable
their houses but she had no reliable source of income she often didn’t know
source of income she often didn’t know
source of income she often didn’t know where the next meal was coming from and
where the next meal was coming from and
where the next meal was coming from and she often went to bed hungry she and her
she often went to bed hungry she and her
she often went to bed hungry she and her siblings are not alone
siblings are not alone
siblings are not alone tonight about eight hundred million
tonight about eight hundred million
tonight about eight hundred million people will go to bed hungry let’s just
people will go to bed hungry let’s just
people will go to bed hungry let’s just bring that alive can I ask the people in
bring that alive can I ask the people in
bring that alive can I ask the people in the front two rows there just to stand
the front two rows there just to stand
the front two rows there just to stand up if this was the world those people in
up if this was the world those people in
up if this was the world those people in front of you would be going to bed
front of you would be going to bed
front of you would be going to bed hungry tonight if they were as close to
hungry tonight if they were as close to
hungry tonight if they were as close to us as they are we would struggle with
us as they are we would struggle with
us as they are we would struggle with that we will struggle with that sense of
that we will struggle with that sense of
that we will struggle with that sense of shared humanity but equally tonight
shared humanity but equally tonight
shared humanity but equally tonight eight people will sleep rather better
eight people will sleep rather better
eight people will sleep rather better let me ask the people here in the second
let me ask the people here in the second
let me ask the people here in the second row and third row and fourth row to
row and third row and fourth row to
row and third row and fourth row to stand up now people here doesn’t mean
stand up now people here doesn’t mean
stand up now people here doesn’t mean women the women would sit down we have
women the women would sit down we have
women the women would sit down we have roughly eight people standing up there
roughly eight people standing up there
roughly eight people standing up there now those eight people those eight men
now those eight people those eight men
now those eight people those eight men have the same wealth not just as the
have the same wealth not just as the
have the same wealth not just as the people in this room or in Manchester or
people in this room or in Manchester or
people in this room or in Manchester or even in the United Kingdom those men
even in the United Kingdom those men
even in the United Kingdom those men have the same wealth as half the world’s
have the same wealth as half the world’s
have the same wealth as half the world’s population now when you have inequality
population now when you have inequality
population now when you have inequality like that what kind of planet are we
like that what kind of planet are we
like that what kind of planet are we creating what kind of economy
creating what kind of economy
creating what kind of economy are we running now some people would say
are we running now some people would say
are we running now some people would say organizations like Oxfam shouldn’t worry
organizations like Oxfam shouldn’t worry
organizations like Oxfam shouldn’t worry about those eight we should worry about
about those eight we should worry about
about those eight we should worry about the poor we should recognize that those
the poor we should recognize that those
the poor we should recognize that those eight and millions like them actually
eight and millions like them actually
eight and millions like them actually are generating wealth and that wealth
are generating wealth and that wealth
are generating wealth and that wealth has played an amazing part in taking
has played an amazing part in taking
has played an amazing part in taking people across the world out of poverty
people across the world out of poverty
people across the world out of poverty now let’s celebrate that in the last
now let’s celebrate that in the last
now let’s celebrate that in the last thirty years the world has taken more
thirty years the world has taken more
thirty years the world has taken more people out of extreme poverty than in
people out of extreme poverty than in
people out of extreme poverty than in the previous hit known history and
the previous hit known history and
the previous hit known history and that’s not just about money it’s about
that’s not just about money it’s about
that’s not just about money it’s about children going to school it’s about
children going to school it’s about
children going to school it’s about people getting immunization it’s about
people getting immunization it’s about
people getting immunization it’s about families living longer the world is a
families living longer the world is a
families living longer the world is a better place for most people but it is
better place for most people but it is
better place for most people but it is leaving behind a population roughly the
leaving behind a population roughly the
leaving behind a population roughly the size of Europe 800 million people living
size of Europe 800 million people living
size of Europe 800 million people living in extreme poverty and we need to look
in extreme poverty and we need to look
in extreme poverty and we need to look at why that is and what we can do to
at why that is and what we can do to
at why that is and what we can do to catch up because of course those eight
catch up because of course those eight
catch up because of course those eight people are often very generous they are
people are often very generous they are
people are often very generous they are creating wealth and many of them as
creating wealth and many of them as
creating wealth and many of them as individuals are philanthropic but that
individuals are philanthropic but that
individuals are philanthropic but that doesn’t feel enough instinctively it
doesn’t feel enough instinctively it
doesn’t feel enough instinctively it feels there’s something wrong there it’s
feels there’s something wrong there it’s
feels there’s something wrong there it’s not only us who feels that in one of his
not only us who feels that in one of his
not only us who feels that in one of his final speeches Barack Obama echoed
final speeches Barack Obama echoed
final speeches Barack Obama echoed Oxfam’s research and said it’s not
Oxfam’s research and said it’s not
Oxfam’s research and said it’s not possible to have a stable world in which
possible to have a stable world in which
possible to have a stable world in which 1% of the world’s population have
1% of the world’s population have
1% of the world’s population have greater wealth than the other 99%
greater wealth than the other 99%
greater wealth than the other 99% combined and it’s not only President
combined and it’s not only President
combined and it’s not only President Obama academics from all sorts of
Obama academics from all sorts of
Obama academics from all sorts of different schools and disciplines have
different schools and disciplines have
different schools and disciplines have identified that in extremely unequal
identified that in extremely unequal
identified that in extremely unequal societies they are more violent the more
societies they are more violent the more
societies they are more violent the more conflict prone there is more civil
conflict prone there is more civil
conflict prone there is more civil unrest people live shorter lives they’re
unrest people live shorter lives they’re
unrest people live shorter lives they’re less healthy they’re less happy and they
less healthy they’re less happy and they
less healthy they’re less happy and they have less confidence in their future so
have less confidence in their future so
have less confidence in their future so we need to build an economy that
we need to build an economy that
we need to build an economy that actually challenges that an Oxfam got
actually challenges that an Oxfam got
actually challenges that an Oxfam got really interested in looking at the
really interested in looking at the
really interested in looking at the aftermath of the economic crash
aftermath of the economic crash
aftermath of the economic crash 2008 and who was benefiting and who
2008 and who was benefiting and who
2008 and who was benefiting and who wasn’t and we found buried deep in a
wasn’t and we found buried deep in a
wasn’t and we found buried deep in a report not by a radical campaigning
report not by a radical campaigning
report not by a radical campaigning agency but by one of our most
agency but by one of our most
agency but by one of our most prestigious international banks Credit
prestigious international banks Credit
prestigious international banks Credit Suisse the statistic that 1% of wealth
Suisse the statistic that 1% of wealth
Suisse the statistic that 1% of wealth 1% was all that was owned by the bottom
1% was all that was owned by the bottom
1% was all that was owned by the bottom half of the world’s population we
half of the world’s population we
half of the world’s population we identified that 85 people had the same
identified that 85 people had the same
identified that 85 people had the same of as that three and a half billion
of as that three and a half billion
of as that three and a half billion people and over the last four or five
people and over the last four or five
people and over the last four or five years albeit with methodological changes
years albeit with methodological changes
years albeit with methodological changes that figure has moved from enough people
that figure has moved from enough people
that figure has moved from enough people to get into a double-decker bus to
to get into a double-decker bus to
to get into a double-decker bus to enough people to get into a golf buggy
enough people to get into a golf buggy
enough people to get into a golf buggy eight people now have the same wealth as
eight people now have the same wealth as
eight people now have the same wealth as half the world’s population now what’s
half the world’s population now what’s
half the world’s population now what’s driving an economy that lets that happen
driving an economy that lets that happen
driving an economy that lets that happen we think it’s to do with our basic
we think it’s to do with our basic
we think it’s to do with our basic economic model we think it’s to do with
economic model we think it’s to do with
economic model we think it’s to do with that model based on rational economic
that model based on rational economic
that model based on rational economic man yes man that says everyone will act
man yes man that says everyone will act
man yes man that says everyone will act in their own best interest and that
in their own best interest and that
in their own best interest and that those interests will come together and
those interests will come together and
those interests will come together and they’ll shape economic prosperity well
they’ll shape economic prosperity well
they’ll shape economic prosperity well there’s four main flaws in that kind of
there’s four main flaws in that kind of
there’s four main flaws in that kind of thinking the first is that those
thinking the first is that those
thinking the first is that those economic figures don’t really describe
economic figures don’t really describe
economic figures don’t really describe human activity as we know it while Adam
human activity as we know it while Adam
human activity as we know it while Adam Smith was writing The Wealth of Nations
Smith was writing The Wealth of Nations
Smith was writing The Wealth of Nations who was cooking his lunch it was
who was cooking his lunch it was
who was cooking his lunch it was probably his wife mrs. Smith nicely
probably his wife mrs. Smith nicely
probably his wife mrs. Smith nicely cutting off the stalks of the broccoli
cutting off the stalks of the broccoli
cutting off the stalks of the broccoli just as he likes it
just as he likes it
just as he likes it who’s measuring the care the compassion
who’s measuring the care the compassion
who’s measuring the care the compassion the loves that affect what we all do
the loves that affect what we all do
the loves that affect what we all do every day that means that care work is
every day that means that care work is
every day that means that care work is not paid not valued in economic models
not paid not valued in economic models
not paid not valued in economic models and when it is paid it’s paid at minimal
and when it is paid it’s paid at minimal
and when it is paid it’s paid at minimal levels the second issue is that kind of
levels the second issue is that kind of
levels the second issue is that kind of classical economics ignored power the
classical economics ignored power the
classical economics ignored power the power of wealth to influence to advocate
power of wealth to influence to advocate
power of wealth to influence to advocate to get access to government’s and in
to get access to government’s and in
to get access to government’s and in many cases to form those very
many cases to form those very
many cases to form those very governments
governments
governments we shouldn’t then be surprised when
we shouldn’t then be surprised when
we shouldn’t then be surprised when those governments right across the world
those governments right across the world
those governments right across the world act in the interests of the wealthy the
act in the interests of the wealthy the
act in the interests of the wealthy the third is that that kind of classical
third is that that kind of classical
third is that that kind of classical economics ignores the finite boundaries
economics ignores the finite boundaries
economics ignores the finite boundaries of our planet we can double our GNP if
of our planet we can double our GNP if
of our planet we can double our GNP if we cut down our forests but what are we
we cut down our forests but what are we
we cut down our forests but what are we doing for us successive generations and
doing for us successive generations and
doing for us successive generations and how are we measuring pollution and
how are we measuring pollution and
how are we measuring pollution and carbon and all those other things that
carbon and all those other things that
carbon and all those other things that affect our well-being and finally
affect our well-being and finally
affect our well-being and finally classical economics looking totals
classical economics looking totals
classical economics looking totals growth averages ignores the poor they
growth averages ignores the poor they
growth averages ignores the poor they don’t have enough wealth to figure in
don’t have enough wealth to figure in
don’t have enough wealth to figure in those stats and the eight people and the
those stats and the eight people and the
those stats and the eight people and the one percent totally dwarfed their
one percent totally dwarfed their
one percent totally dwarfed their contributions so from that point of view
contributions so from that point of view
contributions so from that point of view we need to look differently we need to
we need to look differently we need to
we need to look differently we need to shape an approach to economics that says
shape an approach to economics that says
shape an approach to economics that says how do we work from the bottom up how do
how do we work from the bottom up how do
how do we work from the bottom up how do we shape an economy not just that allows
we shape an economy not just that allows
we shape an economy not just that allows some of that wealth to trickle down to
some of that wealth to trickle down to
some of that wealth to trickle down to the poor but exists to eradicate poverty
the poor but exists to eradicate poverty
the poor but exists to eradicate poverty and ensure that people can live with
and ensure that people can live with
and ensure that people can live with dignity we need to do that by wrestling
dignity we need to do that by wrestling
dignity we need to do that by wrestling back the power over our own economy of
back the power over our own economy of
back the power over our own economy of our own politics
our own politics
our own politics it’s been done before it sounds hard but
it’s been done before it sounds hard but
it’s been done before it sounds hard but it’s been done over centuries since the
it’s been done over centuries since the
it’s been done over centuries since the Magna Carta with ordinary people pulling
Magna Carta with ordinary people pulling
Magna Carta with ordinary people pulling back power from the Divine Right of
back power from the Divine Right of
back power from the Divine Right of Kings it’s been done over the last
Kings it’s been done over the last
Kings it’s been done over the last century or biet only partially as women
century or biet only partially as women
century or biet only partially as women have pulled back power from men in the
have pulled back power from men in the
have pulled back power from men in the public space and said we want to share
public space and said we want to share
public space and said we want to share that we want the jobs we want the pay we
that we want the jobs we want the pay we
that we want the jobs we want the pay we want the representation a journey still
want the representation a journey still
want the representation a journey still in progress and it’s been done in recent
in progress and it’s been done in recent
in progress and it’s been done in recent decades where lesbian and gay people
decades where lesbian and gay people
decades where lesbian and gay people have wrestled back the right the
have wrestled back the right the
have wrestled back the right the apparent right to enjoy family life
apparent right to enjoy family life
apparent right to enjoy family life relationships love marriage in public
relationships love marriage in public
relationships love marriage in public from the straight population we need to
from the straight population we need to
from the straight population we need to do that with economics and we need to do
do that with economics and we need to do
do that with economics and we need to do it quickly we have 800 million people
it quickly we have 800 million people
it quickly we have 800 million people living in extreme poverty and many many
living in extreme poverty and many many
living in extreme poverty and many many more just above that threshold
more just above that threshold
more just above that threshold so what do we need to do to do it let’s
so what do we need to do to do it let’s
so what do we need to do to do it let’s be clear this isn’t just a set of policy
be clear this isn’t just a set of policy
be clear this isn’t just a set of policy prescriptions
prescriptions
prescriptions it’s the way we disrupt our economy it’s
it’s the way we disrupt our economy it’s
it’s the way we disrupt our economy it’s the way we think about economics we need
the way we think about economics we need
the way we think about economics we need to look at the way we trade across the
to look at the way we trade across the
to look at the way we trade across the world because everything we buy or sell
world because everything we buy or sell
world because everything we buy or sell is linked to other parts of the world we
is linked to other parts of the world we
is linked to other parts of the world we need to look at the way migration works
need to look at the way migration works
need to look at the way migration works for poorer people we need to look at tax
for poorer people we need to look at tax
for poorer people we need to look at tax nationally and internationally
nationally and internationally
nationally and internationally it’s the biggest businesses and the
it’s the biggest businesses and the
it’s the biggest businesses and the richest people not just the eight this
richest people not just the eight this
richest people not just the eight this isn’t about the eight it’s about a wider
isn’t about the eight it’s about a wider
isn’t about the eight it’s about a wider approach to economics about the way tax
approach to economics about the way tax
approach to economics about the way tax is paid why is it that the richest can
is paid why is it that the richest can
is paid why is it that the richest can move their money around so either it’s
move their money around so either it’s
move their money around so either it’s not seen or taxes paid at the lowest
not seen or taxes paid at the lowest
not seen or taxes paid at the lowest possible level why is it that Warren
possible level why is it that Warren
possible level why is it that Warren Buffett one of the richest men in the
Buffett one of the richest men in the
Buffett one of the richest men in the world asked is it really right that I
world asked is it really right that I
world asked is it really right that I seem to pay tax at a lower rate than my
seem to pay tax at a lower rate than my
seem to pay tax at a lower rate than my secretary we then need to look at
secretary we then need to look at
secretary we then need to look at spending that tax on public services
spending that tax on public services
spending that tax on public services because it’s those public services that
because it’s those public services that
because it’s those public services that make all the difference to people living
make all the difference to people living
make all the difference to people living in poverty education health basic
in poverty education health basic
in poverty education health basic infrastructure we need to look at the
infrastructure we need to look at the
infrastructure we need to look at the way we pay a living wage right across
way we pay a living wage right across
way we pay a living wage right across the world it really hurts to be part of
the world it really hurts to be part of
the world it really hurts to be part of an economy where the people who are
an economy where the people who are
an economy where the people who are producing the basic goods and services
producing the basic goods and services
producing the basic goods and services that we consume every day get and expect
that we consume every day get and expect
that we consume every day get and expect to get and we all live with the fact
to get and we all live with the fact
to get and we all live with the fact that they get a lower wage than they
that they get a lower wage than they
that they get a lower wage than they need to survive and this has to be
need to survive and this has to be
need to survive and this has to be supplemented by extra work by benefits
supplemented by extra work by benefits
supplemented by extra work by benefits or in the case of people like Amina by
or in the case of people like Amina by
or in the case of people like Amina by going hungry those are the sorts of
going hungry those are the sorts of
going hungry those are the sorts of things we’ve got to work on and look at
things we’ve got to work on and look at
things we’ve got to work on and look at differently we also need to look at the
differently we also need to look at the
differently we also need to look at the way we embrace our planet and we factor
way we embrace our planet and we factor
way we embrace our planet and we factor in those issues of where is our power
in those issues of where is our power
in those issues of where is our power coming from how it is it affecting
coming from how it is it affecting
coming from how it is it affecting future generations the way we embrace
future generations the way we embrace
future generations the way we embrace technology at its best its life
technology at its best its life
technology at its best its life transforming for all of us at its worst
transforming for all of us at its worst
transforming for all of us at its worst it’s taking jobs away from poor people
it’s taking jobs away from poor people
it’s taking jobs away from poor people and it was Bill Gates one of the richest
and it was Bill Gates one of the richest
and it was Bill Gates one of the richest men in the world who actually said
men in the world who actually said
men in the world who actually said should we be considering attacks on
should we be considering attacks on
should we be considering attacks on robots in the workplace not because
robots in the workplace not because
robots in the workplace not because they’re wrong but because who is going
they’re wrong but because who is going
they’re wrong but because who is going to be paying the taxes that actually
to be paying the taxes that actually
to be paying the taxes that actually contribute to running those basic
contribute to running those basic
contribute to running those basic services that make a difference for the
services that make a difference for the
services that make a difference for the whole population we need to look at our
whole population we need to look at our
whole population we need to look at our corporate models we need successful
corporate models we need successful
corporate models we need successful business to drive the economy we need
business to drive the economy we need
business to drive the economy we need jobs we need investment and for that we
jobs we need investment and for that we
jobs we need investment and for that we need to take risks and meet people need
need to take risks and meet people need
need to take risks and meet people need to make a profit
to make a profit
to make a profit that has been a central part of the
that has been a central part of the
that has been a central part of the economic progress and the well-being
economic progress and the well-being
economic progress and the well-being that has increased in recent generations
that has increased in recent generations
that has increased in recent generations but do we really need a model where only
but do we really need a model where only
but do we really need a model where only shareholders and owners capture such a
shareholders and owners capture such a
shareholders and owners capture such a high proportion of the benefits can’t we
high proportion of the benefits can’t we
high proportion of the benefits can’t we look at different economic models and
look at different economic models and
look at different economic models and can’t we promote those models where the
can’t we promote those models where the
can’t we promote those models where the community in which those businesses
community in which those businesses
community in which those businesses exist the employees the customers share
exist the employees the customers share
exist the employees the customers share in its welfare if profits and its
in its welfare if profits and its
in its welfare if profits and its contribution much more fully there’s
contribution much more fully there’s
contribution much more fully there’s many different ways there’s many
many different ways there’s many
many different ways there’s many different policies we could pick up and
different policies we could pick up and
different policies we could pick up and we could address if we look at them
we could address if we look at them
we could address if we look at them through the perspective of what’s their
through the perspective of what’s their
through the perspective of what’s their impact on women and what’s their impact
impact on women and what’s their impact
impact on women and what’s their impact on men we will get a very different lens
on men we will get a very different lens
on men we will get a very different lens on the development we need to promote
on the development we need to promote
on the development we need to promote you would all have different views about
you would all have different views about
you would all have different views about what the right policies might be what’s
what the right policies might be what’s
what the right policies might be what’s absolutely clear is we can’t do nothing
absolutely clear is we can’t do nothing
absolutely clear is we can’t do nothing economic growth is slowing across the
economic growth is slowing across the
economic growth is slowing across the world and even at its best
world and even at its best
world and even at its best we’ll leave many of those 800 million
we’ll leave many of those 800 million
we’ll leave many of those 800 million out of it altogether
out of it altogether
out of it altogether we need a rising tide that will lift all
we need a rising tide that will lift all
we need a rising tide that will lift all boats not just the soup yacht sailing
boats not just the soup yacht sailing
boats not just the soup yacht sailing away the sailing boats following behind
away the sailing boats following behind
away the sailing boats following behind them more slowly and some of the rafts
them more slowly and some of the rafts
them more slowly and some of the rafts and canoes of the poorest s– getting
and canoes of the poorest s– getting
and canoes of the poorest s– getting flooded as the waters come in so we need
flooded as the waters come in so we need
flooded as the waters come in so we need to look at how we consume who do we buy
to look at how we consume who do we buy
to look at how we consume who do we buy from do we take notes in this
from do we take notes in this
from do we take notes in this international trade of the ethics of the
international trade of the ethics of the
international trade of the ethics of the very companies we’re working with
very companies we’re working with
very companies we’re working with do we talk to our politicians about the
do we talk to our politicians about the
do we talk to our politicians about the issues that we care about they get
issues that we care about they get
issues that we care about they get overwhelmed with lobbying on some issues
overwhelmed with lobbying on some issues
overwhelmed with lobbying on some issues but they’re not hearing much about those
but they’re not hearing much about those
but they’re not hearing much about those fundamental issues of an economy a human
fundamental issues of an economy a human
fundamental issues of an economy a human economy that benefits poor people indeed
economy that benefits poor people indeed
economy that benefits poor people indeed which of those politicians locally and
which of those politicians locally and
which of those politicians locally and nationally are we voting for when the
nationally are we voting for when the
nationally are we voting for when the time comes but most of all we need to
time comes but most of all we need to
time comes but most of all we need to look at our own behavior it’s our own
look at our own behavior it’s our own
look at our own behavior it’s our own values it’s the way we live our daily
values it’s the way we live our daily
values it’s the way we live our daily life the way we bring up and relate to
life the way we bring up and relate to
life the way we bring up and relate to our family our friends our work our
our family our friends our work our
our family our friends our work our lives that will make a change to whether
lives that will make a change to whether
lives that will make a change to whether we can build a human economy that would
we can build a human economy that would
we can build a human economy that would not be an economy for the 1% it would
not be an economy for the 1% it would
not be an economy for the 1% it would not be an economy even for the 99% it
not be an economy even for the 99% it
not be an economy even for the 99% it would be an economy for the
would be an economy for the
would be an economy for the hundred-percent a human economy thank
hundred-percent a human economy thank
hundred-percent a human economy thank you
you
you [Applause]
”
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