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 are the potential political consequences mentioned in the text due to the crisis?

In what ways does the text propose a need for a new social contract?