A New Consensus for the Future to Counter Mounting Income Inequality - John Evans

The video discusses the global economic crisis, highlighting the rise in unemployment and the burden on taxpayers due to bank bailouts. It explores the resulting political instability and the need for a new social contract. The video emphasizes the importance of structural change and addresses the historical shift in income distribution from wages to profits, which has contributed to the crisis. The need to tackle income inequality and rethink economic models is underscored.

What has been one of the major impacts of the global economic crisis on employment?

• An increase in global unemployment by 34 million

• A decrease in global unemployment by 34 million

• Stability in global employment rates

• A significant rise in new job opportunities

What is one of the proposed solutions to address the political instability caused by the economic crisis?

• Reducing public expenditure

• Bailing out more banks

• Implementing a new social contract

• Increasing taxes further

What is a key issue faced by many profitable firms and workers during the economic crisis?

• Increased profits and job security

• Higher wages for all employees

• Loss of employment despite profitability

• Expansion into new markets

What significant change in income distribution has occurred over the past 20 years?

• Income shifted from profits to wages

• Income distribution remained constant

• Income shifted from profits to taxes

• Income shifted from wages to profits

What is identified as a core issue that needs to be addressed in future economic models?

• Reducing government intervention

• Enhancing technological advancements

• Tackling distributional issues

• Increasing GDP growth