Minouche Shafik's 21st Century Social Contract

The transcript discusses the motivation behind writing a book on social contracts, highlighting the impact of the pandemic and changes in capitalism. It explores corporate taxes, global economic policies, labor market dynamics, and the need for retraining. The UK economy's productivity challenges and the intergenerational social contract are also examined, emphasizing the need for fairer systems and opportunities for future generations.

What was one of the main motivations for the author to write the book?

• The global financial crisis

• The rise of technology

• The environmental crisis

• The societal divisions post-2016

What has been a significant cost of the focus on efficiency since the 1980s?

• Increased product prices

• Higher corporate taxes

• Improved job security

• Stagnation of workers' incomes

What is one of the proposed changes to the social contract regarding corporate taxes?

• Increasing tax rates for small businesses

• Setting a global minimum corporate tax rate

• Reducing taxes for multinational corporations

• Eliminating corporate taxes

What is a key concern regarding the intergenerational social contract?

• Young people will have worse lives than their parents

• There will be no change in generational prospects

• Young people will have better lives than their parents

• Older generations will have to work less

What solution does the author suggest for improving young people's future prospects?

• Reducing educational opportunities

• Providing educational endowments

• Increasing retirement age

• Decreasing public spending

How does the author suggest addressing the productivity puzzle in the UK?

• By limiting immigration

• By reducing competition

• By tapping into diverse talent

• By increasing taxes

What is a proposed benefit of delaying retirement according to the author?

• Reducing the workforce

• Increasing pension scheme burdens

• Contributing longer through taxation

• Decreasing job opportunities for young people