video UK · 12 March 2023

The Asset Economy

This video introduces the "Asset Economy," arguing that soaring asset prices globally, particularly in housing, have made inherited wealth, not wages or work, the primary determinant of financial success. It attributes this shift to decreased taxes for the rich, economic integration with unequal economies, and crisis mismanagement, leading to spiralling wealth inequality, diminished social mobility, and a "new feudalism" where being born rich is increasingly essential for prosperity.

By Gary Stevenson

Mentions Rishi Sunak

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Arguments in this video

Limits dynastic wealth Gary Stevenson · 03:15
“we're moving towards really an economy which is primarily about inherited wealth I've called this 'a New Feudalism' we're moving into an economy which is an ass”
The wealth taxes we have aren't working Gary Stevenson · 04:14
“massive decreases in the effective tax rates of the very rich in the 80's under the Thatcher government here in the UK and the Reagan government in the 80's (*U”
High costs already force working families to sell Gary Stevenson · 09:30
“as the richer get richer and richer and richer more and more of the middle class start to drop away as they sell their assets to the rich”
Income is not wealth Gary Stevenson · 01:04
“the work that you do is not really that important for determining how rich you are, increasingly the only thing that matters is how many assets your family has”
Curbs extreme inequality Gary Stevenson · 16:37
“The only way to protect working people in this country including asset owners is to keep wealth flowing around so listen I would encourage you even if you do ha”