I have just posted my first video for some time, asking if videos are of use to people and for comments on this video - which is the first I have produced by myself (which was a bit of a steep learning curve). And, I already realise I am too big in the frame. Thoughts appreciated:
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I first got to know your work through your videos.
I am dyslexic and I find it quite difficult to read large blocks of text on a screen. If something I wish to read is fairly long I normally print it out.
Curiously I can read computer code quite easily but that may be because I have done so much of it over the past half century.
On the whole I prefer videos to text, and I know people who will watch videos but will not read blogs or use twitter.
I’m not too worried about the precise format; it’s the content that matters. The video you have posted looks OK to me.
As to what I would like to see covered, I will have to think a bit more about that.
Thanks
FYI: The comments are disabled on the video, and it appears to be marked as Youtube Kids. (You can’t comment on Kids videos)
I will change
Yep, I’d like to see more videos, but you need to select your audience. for example, a beginners guide to money, a beginners guide to the British economy, the economy of power generation and use for dummies…..simple graphics, etc. This would ensure they get a big circulation and be used with groups that would not normally contemplate ‘that kind of thing’. It’s countering the massive, engineered, ignorance of the populace.
Thanks
I think this comment hugely important. I have been interested in economics alongside politics and Green matters etc for fifty years , and have a basic grasp of economics not much more . I am constantly amazed at conversations I have with educated informed intelligent politically aware individuals who Know Nothing ! My son for instance studied politics and philosophy at UEA, but couldn’t see The Point of economics….. perhaps videos might help to cut through here as more “accessible “?
On a personal level I am a podcast person as I can physically work and listen , but a video without too much action is great also. And I have more time to listen than read.
I think with the coming storms ahead around the world , some basic understanding of how economies function could help to stop frightened , suffering people running into the arms of fascism.
These will be short one person (inn the main) podcasts with little but a talking head
I could even strip them to mp3 form for podcast posting….
I think John makes an important point about a “Beginner’s Guide” series: the blog gets feedback and input from people with great expertise and that in turn sparks lively but informed debate as well as providing insider views and knowledge. But there’s a huge audience out there who don’t understand the basics underlying the issues of the day or their impact on the wider economy and how that affects everyone in the UK. There’s no shortage of topics for a Beginners’ series: debugging economic & financial terminology, a simple guide to MMT, how the macro economy differs from the micro-economy, the role of tax, the roles of the Treasury and the BoE, inflation and how the BoE’s current raising of interest rates will be ineffective, QE & QT, FPTP v PR, the real impact of Brexit, Disaster Capitalism and on and on…
Providing such a source of information could help the wider population better understand what’s going on, help them realise that most of the media are prejudiced and present a one-sided view, and in time influence their voting choices.
All noted Ken
I agree with Ken. Beginner’s guides to MMT, and then the next steps. There’s quite a lot available on how it pertains to the US economy, but not so much for the UK.
Noted
I would really like to hear economic models and theory for dummies and MMT for absolute beginners please – and I confess to not having much understanding of government IOU’s /gilts.
Would also like to be able to set neoliberalism into context and have an idea of the prevailing economic theories from, for example, 1960’s to the Thatcher years – and what could work now if neoliberalism were to be gradually replaced
Noted
Is it possible to have subtitles/closed captions? I like the video format but have limited hearing and subtitles greatly help. I believe automatic subtitles are quite easy to add in YouTube but you may want to check the results first!
They are possible – it’s a YouTube feature. I will try to recall how to do it.
Richard, the subtitles are already there on your youtube screen – just press settings and select subtitles ON.
I thought so – with more than 1,000 subscribers Youtube supply it
I think videos are more accessible to a lot of people and your “informal” style works well.
I would like something to counter those of my friends who say “but what if” or “but what about”.
I understand your posts when I read them, but can’t do justice to your arguments when faced with the naysayers.
Thanks
I see the plants copped it!
Seriously though they will reach another audience and help explain ideas which can only be good.
Certainly I would suggest plenty on what money is and how it is created would be very useful as its both not talked about and very very odd – well, I think it is.
I also suggest that help from a film maker would be no bad thing either, my very limited experience of filmmaking/presentations etc suggests that having someone else explain it always helps.
The trouble with that is time
I need to work very quickly
Richard
What comes across in your videos is your humanity and reasonableness.
When you write and debate you are a big hitter. You are also under more time pressure on the blog and it shows.
In your video’s, none of that is lost but it has a softer, more time-indulgent delivery that some might like and be won over.
Keep at it when you can is all I can say.
Thanks
I prefer to read than listen to videos as they are less intrusive to others. So, I prefer to read your blog than listen to your vids.
The videos will be additional
Oh, that’s good. Excellent decision. Covers all bases.
I may not always watch the video but I am listening to the audio as I believe the spoken word helps me absorb the information better.
Graphics can help explain a point when being talked through so these are useful to have when required.
I would like to know more about the economic impact on the public if utility and transport organisations and health services were nationalised versus being privatised.
What impact would there be on tax payers if London was fully self funded.
OK
Noted!
I came to your blog via Twitter when you had around 70,000 followers. I found the combination of the blog and You Tube videos invaluable.
Like many have mentioned on here the challenge I face is being able articulate to other people the concepts you discuss, to this end I have often referred others to your videos.
They are therefore a very useful resource in spreading the word and improving knowledge.
I also wonder how many of those 130,000 additional followers are actually aware of the those videos?
May I suggest that an index linking to the videos from the blogs main menu be added.
As for content and production, I guess that’s down to what you want to achieve….
Do you want an instant “this is what’s on my mind” vlog to run alongside your blog / Twitter post or a more focused piece of educational material that can be referenced in the future.
If it’s the former then I believe the production quality supported by graphics etc need not be as high as if it were the latter.
Overriding all of this is of course workload and I whilst I am in no position to comment on the pressure you put on yourself, I am mindful of something that has been said to me many times in the past…. “sometimes less is often more”
All noted
Education seems to be the key theme
Sound and picture both good, very listenable delivery — great if you’re able to offer text and video, judging from the comments above. Mostly I prefer to read (sometimes because others nearby are asleep!). First-time solo effort possibly a bit nerve-racking? A couple of calming breaths and then you’re on! Don’t move too far back, especially not if that would put distance in the sound, which is very good where it is. Thanks
All noted
Thanks
The sound issue is easily managed with a lapel mic – not expensive and tax-deductible! – and it clearly works for TV companies.
I’m sure videos posted on twitter would help to spread the word…
As for subjects, it would seem to me that topical would be why mortgage rates seem somehow to ‘have’ to reflect bank rate and go up and down when, as far as I can see, there is no actual connection (and when we know that in the US mortgage interest fixed for life is possible).
And also how those bank rates slot in with foreign exchange, when we know that foreign exchange activity is between 60 and 100 times that of any actual international trade. Of course as the UK imports about half its food and sometimes seemingly currently half its energy then what foreigners think of us is important – and so exchange rates and interest rates are too.
This also has, it seems to me consequences for the sovereign currency language of MMT…
Big issues
I would definitely tweet them
I agree with Peter about the relationship between bank and mortgage rates. Another puzzle for me is how Japan can have such a different approach to interest rates to the west?
I have found the website wiki useful when needing more info.
Thanis
Too tired tonight
Hello Richard.
I like your videos. I think you have a friendly, engaging style.
With this in mind, I feel videos are suited to giving beginners a strong grounding in whatever economic topics you feel they need. Maybe QE, MMT, what a central bank does, tax, gilts..whatever.
This shall allow them to better follow written arguments that you make on Twitter or your blog. Or indeed when reading stuff posted by others.
I think people can even just listen to the video whilst doing something else, whereas they actively need to engage with reading the blog, and twitter.
I basically agree with what Ken said. Basic 101 stuff.
Thanks
What are your thoughts on other ‘radical’ economists such Steve Keen, Richard Werner, Bill Mitchell….etc?
Similarities and differences between you a these?
Thanks
Steve, brilliant
Werner, had a moment of inspiration
Bill, clever but alienating and verbose as well as politically misguided
Lots of good points above. In marketing terms series certainly help generate views and in building a learning resource. If you are interested in increasing wider understanding, I’m wondering if you have considered a regular, topical, podcast ? Your Twitter posts suggest there is a potential audience and your blog posts which follow from conversations – like the recent one with Danny Blanchflower – suggest you’d enjoy partnering with the right co-presenter. The medium allows for time and is flexible. So the occasional guest or answer listeners questions.
I have thought about it but still not found the right way to do it
I have followed your work, pretty much daily for a long time, and amidst my despair about what’s happening politically you are my go-to read because you have solutions, thus hope. Thank you!
Like some other commentators I do sometimes struggle to communicate your ideas succesfully to doubters, not being confident in my grasp of financial concepts and language, along with many people, I suspect. I do think education is key and am always recommending your work to others.
I think having a variety of media will mean you can reach a wider audience, so yes, keep on with the videos.
I was also wondering if sometimes a question answer format might work to deal with some of the what if….? what about….? objections that are frequently raised, particularly to money creation. I suppose I’m thinking of it as a kind of model to use to better pass on your ideas ….
A podcast for that?
I agree that a question answering session would be helpful, maybe once a month or every other month?
I will think about that
Platforms are available – but keeping the trolls out will be the problem
This might need to be by prior submission in other words.
It looks good to me
I like the videos and very much enjoyed the Compassonline last night. Format is ok but maybe the background should be more visible though more discrete and your head slightly smaller.
I’m not an economist so appreciate the explanations. A policy followed by the Bristol Festival of Economics where complicated abbreviations and ideas must be explained by the speaker.
Thanks
YES PLEASE! More videos, so long as I can forward them to doubting relatives!
Presentation: yes, you are right, perhaps too big in the frame. Also maybe too low a camera angle?
Ideas: 1. is Japan a good example to follow? Instead of Osborne’s austerity and the present search for £60bn ‘saving’, why can’t we just put it on the books and allow the debt/GDP ratio to rise a little?
2. Is productivity more important than GDP? If Germany and France produce in 4 days a week what takes us 5 days, how do we move in their direction? Is GDP growth an irrelevance?
Noted thanks
Ever since your Zoom lecture to Keele World Affairs, during which you enlightened the many, infuriated the few, I have become a resolute fan. Anything you do to take the lid off the obsfuscating politicians whom now, I realise, are economically illiterate, is good! You empower!
Thanks
Yes please more videos
Keep making the videos, please Richard. Subtitles would help and if possible, linking your videos to Tik Tok could see you reach a wider and younger audience. Subjects would include all of the suggestions made by others but I would be especially interested in the financial mechanics of local government if possible. More on representative democracy vs participative democracy, FPTP, and why the rise and domination of financialization of our economy is killing us all slowly.
Great work Richard!
Tik Tok means three minutes….but I like the idea….and the challenge
Hi Richard
As you can tell from my Username, anything Scotland centric is fantastic, because of devolved matters it really important to start your videos if possible to state if they are UK wide, or concern any particular devolved state differently and why…This obviously makes it more complicated for you but it may get more Scots listening to get channel.
Thx
Plastic Jock!
Noted
I suspect there will be a Scottish series if things go to plan….
Videos are great. Largely nobody under 25 reads large blocks of text. They are the podcast generation. I would suggest trying to connect with some popular podcasters to interview you or chat. It’s such a powerful way to reach people and influence them now. Also I have neurodiverse children and video -images and listening-is critical for their learning.
Noted
But these will be a side effort so lots of interview organising time won’t be available – sorry
Although I am recording for Radio 4 this morning….
1. Yes, your videos are worthwhile. They help me understand and give me a different perspective on economics.
2. I am utterly clueless and grew up assuming that politicians spoke truth. E.g. “Any woman who understands the problems of running a home will be nearer to understanding the problems of running a country” and “there is no magic money tree.” Please help me understand the big picture. What do you think of mutual credit as a way forward? (https://www.lowimpact.org/categories/mutual-credit)
3. The style is good enough. You could try out other things as they crop up, e.g. collaborations. If you wanted to push the boat out, I think Kurzgesagt’s videos are good (https://kurzgesagt.org/agency/).
Thanks
Bonds, please. How they used to work before Bretton Woods broke up and how they work now. This is a huge area and it’s one I really struggle with.