This is Capitalism

This is Capitalism

By BBC Radio 4

Capitalism is the hidden economic wiring which puts money and markets at the centre of our lives. This collection of programmes includes David Grossman’s story of the explosive growth of modern capitalist power told in 10 parts - The New Age of Capitalism - plus many others.

Episodes

2009: Our House - Episode 5

How might a young couple, unable to buy their first home today, have fared in past decades? Tacita and Charlie are in their mid twenties. They live near Brighton on the south coast and are desperate to move in together. But buying somewhere in this part of the country is out of their reach. They believe earlier generations had it easier than they do. In the final programme Tacita and Charlie travel back to 2009. The global financial crisis is biting hard, mortgage lending is being squeezed and workers are facing a pay freeze. So, is this the worst period so far for a young couple trying to get on the housing ladder? And how does it compare to today? The experts who guide our couple through 2009 are economist Jonathan Cribb from the Institute for Fiscal Studies, Professor Sharon Collard from the University of Bristol and Professor Claire Langhamer from the University of Sussex. Producers: Rosamund Jones and Paul Kerley
09/09/1915m 21s

1997: Our House - Episode 4

How might a young couple, unable to buy their first home today, have fared in previous decades? Tacita and Charlie are in their mid twenties. They live near Brighton on the south coast and are desperate to move in together. But buying somewhere in that part of the country is out of their reach. They believe earlier generations had it easier than they do. In part four of five programmes Tacita and Charlie travel back to 1997; the Labour party has just won power in a landslide victory, the Conservatives claim to have left the economy in better shape than ever before. Just a few years earlier a property crash had left hundreds of thousands of people in negative equity or suffering repossession. So, what sort of difficulties might a young couple, trying to get on the property ladder back then, have faced? And how might they compare to the situation Tacita and Charlie are in today? The experts who guide our couple through 1997 are economist Jonathan Cribb from the Institute for Fiscal Studies, Professor Sharon Collard from the University of Bristol and Professor Claire Langhamer from the University of Sussex. Producers: Paul Kerley and Rosamund Jones
09/09/1915m 3s

1988: Our House - Episode 3

How might a young couple, unable to buy their first home today, have fared in past decades? Tacita and Charlie are in their mid twenties. They live near Brighton on the south coast and are desperate to move in together. But buying somewhere in that part of the country is out of their reach. They believe earlier generations had it easier than they do. In the third of five programmes, Tacita and Charlie travel back to 1988. Unemployment was high, the result of the deep recession that had hit manufacturing businesses so hard, but credit was easier to come by than ever before; deregulation was full steam ahead. And house prices, in London and the South East, were climbing fast. Would a young couple, back then, have faced the same sort of difficulties Tacita and Charlie do today? The experts who guide our couple through 1988 are economist Jonathan Cribb from the Institute for Fiscal Studies, Professor Sharon Collard from the University of Bristol and Professor Claire Langhamer from the University of Sussex. Producers: Paul Kerley and Rosamund Jones
06/09/1915m 13s

1979: Our House - Episode 2

How might a young couple, unable to buy their first home today, have fared in previous decades? Tacita and Charlie are in their mid twenties. They live near Brighton on the south coast and are desperate to move in together. But buying somewhere in that part of the country is out of their reach. They believe that earlier generations had it easier than they do. In the second of five programmes, Tacita and Charlie travel back to 1979. Inflation rates were soaring and mortgage payments were likely to take up more of your income than ever before. Industrial unrest was commonplace, but the gap between top and low earners much less than in other decades. So how much difficulty would a young couple, trying to get on the housing ladder back then, have faced? The experts who guide our couple through 1979 are economist Jonathan Cribb from the Institute for Fiscal Studies, Professor Sharon Collard from the University of Bristol and Professor Claire Langhamer from the University of Sussex. Producers: Rosamund Jones and Paul Kerley
06/09/1915m 13s

1968: Our House - Episode 1

How might a young couple, unable to buy their first home today, have fared in past decades? Tacita and Charlie are in their mid twenties. They live near Brighton on the south coast and are desperate to move in together. But buying somewhere in that part of the country is out of their reach. They believe earlier generations had it easier than they do. In the first of five programmes, Tacita and Charlie travel back to 1968. This was when salaries - in real terms - were considerably lower than they are now, mortgages were hard to come by and would most likely be calculated only on the male earner's wages. It was also the year when house building hit its peak. So, is their hunch right - would they have had an easier time back then? The experts who guide our couple through 1968 are economist Jonathan Cribb from the Institute for Fiscal Studies, Professor Sharon Collard from the University of Bristol and Professor Claire Langhamer from the University of Sussex. Producers: Rosamund Jones and Paul Kerley
02/09/1915m 18s

Julie and Paul: The Money Clinic - Episode 4

Money is one of the top three strains on relationships and it’s a common cause of rift between family and friends too.You might be cautious and risk averse and hate to see your partner frittering their money away on new clothes and nights out; while they might think you should stop being so miserly with your cash and splash out once in a while.In the Money Box Summer series Ruth Alexander introduces ‘The Money Clinic’. We eavesdrop on the conversations of three couples and a mother and son talking honestly about their finances with a relationship counsellor. We learn who they are, about their relationship with the other person, and what financial issues are coming between them. We hear practical tips on how each couple can better to manage their cash, and also how to manage the emotional side of money. We learn that individual attitudes to money are formed in early life, and how arguments about money are often about so much more than just money.In this programme we meet Paul who wants to retire early, but his wife Julie says he can’t afford to. Can they come up with a plan for this next stage of life that they will both agree to?Producer Smita Patel Editor Emma Rippon
02/09/1928m 2s

Fiona and James: The Money Clinic - Episode 2

Money is one of the top three strains on relationships and it’s a common cause of rift between family and friends too. You might be cautious and risk averse and hate to see your partner frittering their money away on new clothes and nights out; while they might think you should stop being so miserly with your cash and splash out once in a while.In the Money Box Summer series Ruth Alexander introduces ‘The Money Clinic’. We eavesdrop on the conversations of three couples and a mother and son talking honestly about their finances with a relationship counsellor. We learn who they are, about their relationship with the other person, and what financial issues are coming between them. We hear practical tips on how each couple can better to manage their cash, and also how to manage the emotional side of money. We learn that individual attitudes to money are formed in early life, and how arguments about money are often about so much more than just money.In this programme we meet Fiona, who is frustrated by her son James’ feckless attitude towards money. He’s 20-years-old but she feels like he sometimes acts like a two-year-old. How can she get him to change his ways?Producer Smita Patel Editor Emma Rippon
02/09/1928m 2s

Fay and Ben: The Money Clinic - Episode 3

Money is one of the top three strains on relationships and it’s a common cause of rift between family and friends too. You might be cautious and risk averse and hate to see your partner frittering their money away on new clothes and nights out; while they might think you should stop being so miserly with your cash and splash out once in a while.In the Money Box Summer series Ruth Alexander introduces ‘The Money Clinic’. We eavesdrop on the conversations of three couples and a mother and son talking honestly about their finances with a relationship counsellor. We learn who they are, about their relationship with the other person, and what financial issues are coming between them. We hear practical tips on how each couple can better to manage their cash, and also how to manage the emotional side of money. We learn that individual attitudes to money are formed in early life, and how arguments about money are often about so much more than just money.In this programme, 20-somethings, Ben and Fay, have just moved in together. It’s an exciting time, but their arguments about money are getting them down. Can they learn to see eye-to-eye?Producer Smita Patel Editor Emma Rippon
17/08/1927m 53s

Poppy and Cliff: The Money Clinic - Episode 1

Money is one of the top three strains on relationships and it’s a common cause of rift between family and friends too.You might be cautious and risk averse and hate to see your partner frittering their money away on new clothes and nights out; while they might think you should stop being so miserly with your cash and splash out once in a while.In the Money Box summer series Ruth Alexander introduces ‘The Money Clinic’. We eavesdrop on the conversations of three couples and a mother and son talking honestly about their finances with a relationship counsellor. We learn who they are, about their relationship with the other person, and what financial issues are coming between them. We hear practical tips on how each couple can better to manage their cash, and also how to manage the emotional side of money. We learn that individual attitudes to money are formed in early life, and how arguments about money are often about so much more than just money.In this programme we meet Cliff and Poppy who own a cafe together but their financial mind-sets are miles apart. He’s a ‘maverick’ with money, while she’s intensely frugal. Can they find a middle ground?Producer Smita Patel Editor Emma Rippon
14/08/1927m 48s

Nanoseconds and Megabucks

David Grossman with more stories which help explain the world of contemporary capitalism. He enters the strange world of high speed financial trading, where a millionth of a second can make the difference between fortune and failure. He learns about the increasing role of the financial sector, asking about the risks of our reliance on debt. Plus how South America tried to introduce its own brand of socialism and the growing influence and appeal of state-directed capitalism in places like China. Can free-market economies like Britain compete fairly? Producers: Diane Richardson and Matthew Chapman
09/07/1956m 21s

The Bailout

A dramatic blow by blow account from then Prime Minister Gordon Brown of the bank bailout. Along with Chancellor Alistair Darling at the Treasury, Governor Mervyn King at the Bank of England, and BBC Business Editor Robert Peston, witness the race against time to deliver a bold plan to stabilise the financial system before the banks go bust.Taking us inside incredible scenes: in the Oval Office where Gordon receives a fax saying Bradford and Bingley has gone bust whilst trying to persuade President Bush to recapitalise; bank Chief Executives being bundled in the back door of the Treasury for secret meetings that are immediately leaked; Alistair trying to keep a straight face at a boring Finance Ministers meeting in Luxembourg whilst RBS goes belly up; heretical invitations from President Sarkozy for Gordon to attend Euro Group meeting at the Elysee Palace when Britain isn’t even in the Eurozone; phone calls from bankers saying they just need a bit of spare cash to tide them over, and their inevitable downfall.This is the story of what happened as the drama unfolded, without analysis, interpretation, or hindsight; because at the time nobody knew whether the biggest injection of cash into banks in British history would be enough to stave off Armageddon.
08/10/1856m 50s

Insecure Overachievers

Highlighting the epidemic of exceptionally capable professionals driven by a profound belief in their own inadequacy. Their ability and relentless drive to excel make them likely to succeed in the competitive environment of elite professional and financial firms, but the work culture is also taking advantage of their vulnerabilities.
04/10/1828m 6s

Cassandras of the Crash

Ten years ago, the world watched as the biggest financial meltdown in history unfolded. The crash plunged the world into recession, lost millions of families their homes and its shadow still hangs over our politics today. And when the Queen went to the London School of Economics, she asked the question everyone wanted the answer to: why did no one see it coming? Aditya Chakrabortty, senior economics commentator at the Guardian newspaper, chairs a discussion between four economists who can claim they did.
26/09/1856m 41s

Trillion Dollar Companies: The New Age of Capitalism - Episode 10

Both Amazon and Apple have become the first companies in history to be valued at more than a trillion dollars each. There are fears this dominance, particularly by technology companies including Facebook and Google, could lead to monopolies which hurt consumers. The advent of these trillion dollar valuations comes as a growing number of critics begin to ask if it is time for regulators to step in and either cut the technology firms down to size, or break them up altogether. Adam Lashinsky, author of 'Inside Apple', joins Barry Lynn, executive director of the Open Markets Institute to debate whether the market or the government will decide the future of these companies.
21/09/1814m 5s

Financialisation: The New Age of Capitalism - Episode 9

Banking used to be a laid-back profession involving long lunches and the odd loan approval to a business. Over the last few decades that has all changed as financial institutions focus increasingly on selling products to the public and thinking up ever more complicated money making schemes for the world markets. This process - often described as financialisation - has meant increased profits for the banks but is also seen as a threat to the rest of the economy. Authors Rana Foroohar and Joshua Ryan-Collins argue that some financial institutions may once again repeating old mistakes
20/09/1814m 7s

State Capitalism: The New Age of Capitalism - Episode 8

David Grossman considers the growing influence and appeal of state capitalism, asking whether free-market and state capitalist systems can coexist and compete fairly.Joining David are Joshua Kurlantzick, author of "How the Return of Statism is Transforming the World", and economist Dr Linda Yueh, author of "The Great Economists, How Their Ideas Can Help Us Today".
20/09/1814m 2s

Turbo-Capitalism: The New Age of Capitalism - Episode 7

Governments are often ready to close down sectors of their economies which they believe are inefficient, like coal mining, and keen to promote more efficient high tech companies. Back in 2000, author and government adviser Edward Luttwak coined the term Turbo Capitalism to describe how governments are enabling the destruction of well paid "dignified" jobs and replacing them with poorly paid low status occupations. These new roles may appear to be part of a more efficient system, but are, he argues, actually more damaging to society as a whole. He is joined by author James Bloodworth, who described the six months he spent working undercover in a variety of poorly paid positions in "Hired".
20/09/1813m 42s

High Frequency Trading: The New Age of Capitalism - Episode 6

Imagine you are heading to the shops and someone steals your shopping list. Then they race ahead and bought all the goods ahead of you, forcing you to buy your shopping from them at a higher price. That is what is happening to ordinary share traders like pension funds. When they go to buy some shares, they find high frequency traders have snapped them up nanoseconds before them and want to sell them at a higher price. These traders now account for the majority of all trades on major stock markets. David Grossman explores the rights and wrongs of this new world with Brad Katsuyama, CEO of IEX, a new stock exchange which wants to clamp down on high frequency traders, and Professor Donald MacKenzie of the University of Edinburgh.
20/09/1813m 53s

Making Money: The New Age of Capitalism - Episode 5

David Grossman asks how and when money is created in the modern economy, how that influences asset prices and financial stability and hears about a radical Swiss idea for monetary reform.Joining the debate are Positive Money director Fran Boait and Professor Sir Charles Bean, former chief economist and deputy governor for monetary policy at The Bank of England.
20/09/1814m 9s

South American Socialism: The New Age of Capitalism Podcast - Episode 4

Over the last two decades South America has witnessed a series of large scale economic experiments where countries have introduced their own brand of left wing politics. Dubbed Socialism of the 21st Century its successes and failures are debated by Dr Asa Cusack from the LSE Latin America and Caribbean Centre and Professor Ricardo Hausmann of Harvard University's Kennedy School of Government.
20/09/1814m 7s

Artificial Intelligence: The New Age of Capitalism - Episode 3

David Grossman considers the impact that the revolution in artificial intelligence could have on our jobs, income and society. He is joined by Diane Coyle, Bennett Professor of Public Policy at Cambridge University and Andrew McAfee, Principal Research Scientist at the MIT Sloan School of Management.
20/09/1813m 38s

The Attention Economy: The New Age of Capitalism - Episode 2

David Grossman discovers why it's so hard to resist the billion-dollar industry of digital distraction.David talks to Tim Wu, author of 'The Attention Merchants, The Epic Scramble to Get Inside Our Heads' and former Google executive James Williams, author of 'Stand Out of Our Light, Freedom and Persuasion in the Attention Economy'.
20/09/1814m 10s

The Intangible Economy: The New Age of Capitalism - Episode 1

Why can't some of the most profitable companies in the world be valued? From fitness classes to global tech firms and coffee chains, Jonathan Haskel and Stian Westlake reveal the growing dominance of the intangible economy and the implications for society, equality and productivity.
20/09/1813m 55s

Welcome to This Is Capitalism

Welcome to this new BBC podcast. The first episode will be published within seven days.
20/09/181m 10s
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