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Episode Description
Rupert Russell joins me to discuss the hidden power of prices, the chaos of financial markets and whether the economy is really just a global game of Monopoly.
Rupert explains how price shocks have shaped history, from bread riots and the Arab Spring to housing, oil, food and the financial crisis. We discuss derivatives, futures markets, commodity speculation, Goldman Sachs, central banks, inflation, asset managers and why the price of essential goods can become politically explosive.
We also get into AI, scarcity, status, the future of work, whether the price system breaks in a world of abundance, and why Rupert thinks The Matrix is a better model for our future than Terminator or Ready Player One.
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TIMESTAMPS:
00:00:00 - Is the Economy Just a Game?
00:00:56 - The Horror of Our Economic System
00:01:39 - Why Prices Shape History
00:05:15 - The Sandpile Theory of Society
00:07:38 - How Governments Manipulate Prices
00:12:00 - Housing and the Broken Social Contract
00:16:10 - How Derivatives Began
00:19:36 - Futures, Farmers and Speculators
00:23:24 - When Insurance Became Gambling
00:27:02 - The Road to the Financial Crisis
00:32:18 - Hayek, Friedman and Price Signals
00:36:20 - How Food Became Financialised
00:41:23 - What Pushes Food Prices Up?
00:49:13 - Did Global Markets Break Economics?
00:54:08 - What Is the Real Price?
01:03:57 - Who Really Runs the Economy?
01:11:28 - The Global Game of Monopoly
01:19:24 - Is the Market Now Correlated to AI?
01:36:14 - AI and the End of Scarcity
01:50:06 - Terminator, Matrix or Ready Player One?
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CONTACT PETE
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CONNECT WITH RUPERT RUSSELL
› Website – https://www.rupertrussell.com/
› Price Wars – https://www.hachette.co.uk/titles/rupert-russell/price-wars/9781474613996/
› The Last Sacrifice – https://www.anti-worldsreleasing.co.uk/pages/last-sacrifice
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FILMED BY CURTIS TAYLOR
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EDITED BY CONOR MCCORMACK
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