Ann Pettifor, in New Zealand for lectures on the state of the financial world, talks to Nine-to-Noon about its most pressing problems.
The UK economist was one of the few to predict the 2008 GFC, and now says our biggest problems stem from economists and the finance sector to ‘marketise’ society and to “turn us all into customers for everything”.
“We’re no longer citizens, we’re no longer workers, we’re customers, all along the line. And all of our relationships must, they argue, be marketised.
[Those without assets] are getting poorer, because they cannot live on their existing income, because we don’t pay wages or salaries that allow people to live a decent life. So they have to supplement that, with all of these additional marginal activities.
“That’s what’s wrong with the way we have allowed the markets to take control of our economies and for the invisible hand to decide who gets what, is those who are left behind – and the left-behinders voted for Brexit, the left-behinders are voting for Trump, and they’re voting for Le Pen, the fascist in France – we need to worry about that.”