Is economic prediction futile? Guy Standing and Richard Werner clash | Guesses, errors and economics

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Published on September 9, 2023 3:00:22 PM ● Video Link: https://www.youtube.com/watch?v=Rssmjom7juE

Duration: 5:49

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UBI advocate Guy Standing and 'Father of Quantitative Easing' Richard Werner go head to head over whether accurate economic prediction is possible - and the pros and cons of Universal Basic Income.

This excerpt was taken from Guesses, Errors and Economics, a debate featuring Gillian Tett, Guy Standing and Richard Werner, hosted by Linda Yueh, and held in partnership with Audio Note. To watch the full debate, head to https://iai.tv/video/guesses-errors-and-economics?utm_source=YouTube&utm_medium=description&utm_campaign=guesses-errors-and-economics-h2h

#economics #universalbasicincome #ubi

00:00 Introduction
00:22 Richard: I make accurate predictions
01:15 Guy: we must live with uncertainty
02:00 Guy: UBI builds resilience
02:48 Richard: GDP and markets can be predicted scientifically
03:09 Richard: Why do the Davos billionaires support UBI?
3:08 Guy: The problem is economic fear and fragility
04:45 Guy: Distribution matters

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