Redistribute Productivity

Sir Paul Collier is Professor of Economics and Public Policy at the Blavatnik School of Government and a Professorial Fellow of St Antony's College, Oxford University. In this interview, hosted by Andrew Keen, Sir Paul Collier explains why he thinks the biggest problem of capitalism in the last two centuries in the US and UK has been the concentration of moral load-bearing. While in the past, derailments of capitalism have been remedied by families and firms, along with governments, all taking responsibility, nowadays, that burden has concentrated in the state. Decentralization of political and economic power can be a way to reverse this, and the key is re-skilling workers whose labor has become less and less valuable outside of the few major clusters of knowledge intensive firms.