Welcome to economics and beyond I'm Rob Johnson president of the Institute for New Economic Thinking I'm here today with gals you're all who is a senior researcher at the Center for Scientific Research in Paris he is about to be the founder and leader of the Georgetown University Center for Fire Mental Justice he is also I'm glad to say a member of the Commission on Global Economic Transformation that is founded and administered by the Institute for New Economic Thinking Gil thank you for joining me here today thank you for giving me the floor well your work for the the Global Commission was it mid it was in midstream and many of the themes that I have come to understand through knowing you seem now to be how we say more intense in more vivid as we talk on the 14th of May and the pandemic has made very very profound changes in the the nature of our understanding of world world systems the role of governments and the what you might call shortcomings unmasked in a highly efficient just-in-time global private sector as you look at this world how has it changed your perceptions and what do you see being done well and particularly I know because you're in you're in Dublin now but you're in Europe how do you see how the pandemic is affecting countries like Italy France Ireland in the UK what I would say I mean there are two levels I could answer two levels the first one is the let's say the surface and the political issue many open countries have had a very bad reaction to the pandemic they didn't prepare themselves they didn't have any strategic plan like Taiwan South Korea or Vietnam so that they were rapidly overwhelmed by the pandemic hence the consequences in terms of the tolls and also the need to lock down the economies with the terrifying consequences that these has today of course there are some exceptions I mean Iceland for instance began to test one month before the first case the first positive case came in on the island Malta also had a very good very good strategy against the pandemic and to a certain extent Germany and Netherlands and Sweden also had a good strategy but Italy France the UK Spain definitely have had the need to implement the medieval reaction which is the lockdown because they were entirely overwhelmed so I guess this will create a huge debate in these countries about the need to reinforce the public health system with of course a number of people saying no it's exactly the opposite we should now destroy the public health system because we have made the proof that it's inefficient and we should privatize everything this debate is already occurring today in France and I'm sure it will be very very harsh in the coming weeks and months in many European countries so this is let's say the surface beneath the surface it seems to me there is a big challenge which is raised by this crisis which is the fact that I mean mainstream economics being built on the idea that everything is at equilibrium to begin with cannot deal with this kind of problem where we have a big crisis where we both have a collapse of the supply side and the demand side at the same time and it's very hard to think about it in terms of an equilibrium model so that's why it seems to me I mean this pandemic opens a big window for not for non-orthodox alternatives like you know dynamical systems are using microeconomics theory in order to try to deal with this complexity of an economy which is certainly not at equilibrium and which now in many European countries but also in the US unfortunately if it's going to an equilibrium it might probably be a depth deflationary equilibrium in the sense of you know even Fisher and Heimann Minsky so a very bad equilibrium so yeah from this viewpoint paradoxically enough I mean the pandemic might be a good opportunity for the academic sphere in economics to get rid of the mainstream paradigm and to start something new so let's let's talk about the questions related to global supply chains what what has happened I mean obviously when there is a system that's highly integrated and operating on very thin margins and that system comes apart in this case for health protection yeah it it creates short-term what I'll call inelasticity scare cities and it's not responsive are we now in a place where this is a one-time episode and we suffered the consequences are we in a place now where people are going to want to do the equivalent of self-insurance by localizing relocalizing I think is the phrase you've used production so that the depth and duration of the suffering that we could contingently incur is diminished in each region of the world yeah this debate is raging today in many countries in Europe and I mean clearly in favor of relocalization of our industry at least in countries like France or as you know industry is just amounts to 12% of the GDP the same in the UK or in Italy well my answer would be it's obvious that this pandemic is not the one-shot big you know black swan that will never come back in the sense that first it might turn into a seasonary pandemic in case the virus would mutate and come back second there will be other panics due to the erosion of biodiversity let's say for instance the deforestation the deforestation is bringing human beings close to white animals against which we have no immunology and no way to protect ourselves in the same way the to the markets in Wuhan for white animals are make bringing us closer to these to these animals so there will be other panemics and more generally climate change and the erosion of biodiversity we must probably provoke the same kind of big problems at the international level in the coming years and decades so definitely it seems to me we have to rethink the way we have organized globalization in the last 40 years which as you said was based on on big supply chains with no stocks and very thin margin in order to maximize profit in the short run so we are just making the experience that this is not resilient at all against any kind of exogenous shock like this pandemic and that we definitely need to rethink it in another way and from my viewpoint to relocalize part of our industry of course these raises huge problems in the sense that in many sectors the question is that in many in many different countries we don't have the label forces the qualified label forces that could work in the same way as some people in other in certain countries in the globalized southern countries would work today in these big supply chains so this will probably increase the label cost for a number of industries and create a huge number of microeconomic problems in the future but I don't see any escape code the status quo would mean that we would be very fragile and non resilient against shocks that will occur most probably in the near future I remember in preparing for this I read a very vivid statement that came out in an article you wrote recently on starting anew after COVID-19 and you said that preventing events like a pandemic is not profitable in the short term hence no provisions were made for mass tests or tests to be carried out massively yeah we've reduced hospital capacity in the name of the ideology of demand dismantling public services which is now showing itself for what it is an ideology that kills yeah that's a strong statement but that seems to be quite an accurate statement why does why did society get into a place where it convinced itself that cutting all of these public services to the bone was the right path well you know it seems to me to a certain extent I mean the neoliberal the ideology has convinced a number of people including a number of high civil servants that the state is definitely something inefficient that the regulated markets should be much more efficient and that we should delegate to markets as much as possible the entire society I mean all the processes in the society the point is that at the same time we did not realize that most of these industries have fixed costs that cannot be taken into account by the private sector as we know even from the the most orthodox neoclassical economic theory as soon as an economy sector of let's say a company has fixed costs then then you can't just assume that it's going to maximize its profit in the short run because it makes no sense if you have non-convex production so to a certain extent what we have done is that we have asked the state to pay for the fixed cost and then the sector private sector would that just take benefit from the convex part of the production function and this doesn't work in the situation where we are now simply because the pandemic shows that if you privatize health the health system then there would be a cost for that I mean and there will be poor people unable to pay this cost if this price the price of the health the sanitary system and these people of course will convey the virus to the others even the richest who could have a thought you have a good health system so the best way to remain healthy is for the rich to pay for a public system for the poor I don't I don't see any alternative to that but but I must confess at the same time that the way the debate is organizing is organized today in many many western countries partly goes in the opposite direction saying as I said earlier I mean the public system of health system is very bad and we should get rid of it and privatize anything which is a pure nonsense well I think it's a nonsense that comes from a lot of different directions the deification of markets is almost like there's some divine arbiter in markets that allocates or fulfills the wishes of people magically one of the problems in markets is when you're poor you may have what economists call preferences but you have no demand function you got to have money to be heard by the market secondly this is what I call the demonization of governance everything it does is a dimension of inefficiency well I find this very problematic particularly in the country where I live the United States there is a former musician and artist who once appeared on a blog named Stuart Zekman and he pointed out in this blog post which I'll be happy to put online associated with this episode was that this division between markets and government good and bad in the United States is a false consciousness yeah and when you go to the gallop polls in the United States why do people think government is bad because they think wealthy people and large concentrated corporate interests control the government to subsidize themselves at the expense of the taxpayer so it's not one is an efficient mechanism and the other is a clumsy or error prone mechanism it's that the power of the neoliberal vision in markets has commodified the appointments of politicians who in the United States depend on tremendous amount of fundraising the making of laws the making of regulations the public relations the appointments the enforcement and all of these things lead to what after the financial crisis of 2008 and 9 which spawned occupy wall street on the left tea party on the right and a change in control of the house the senate and the white house what was called the mother of all moral hazards and i guess as i look at the structure of central bank centered fiscal assistance i think many people are going to be concerned that all of those who were doing stock buybacks running on very thin margins or banks speculating aggressively we're doing so because they thought they had the political muscle to use contingent fiscal capacity to bail themselves out because of their influence in the government and leave the people the broad population out to the side there's a gentleman named ian welch in america who's really has has just written a blog post which i'll put up also with this called uh how neoliberalism has destroyed capitalism and he basically talked about how all the small businesses are going out of business and all the big airlines and big private equity companies and big financial institutions are being fortified and the stock market is not in disaster when the economy is so i think i think we're in a very confused state and i did this long-winded preface in the in the spirit of asking you a question there's a very dangerous fork in the road now between authoritarian response and reinvigoration of democratic representation and how do you see how we're going to restore the integrity faith and trust and expertise the integrity faith and trust in public service when the episode screams at us that we are not providing adequate public goods in many places in the world most noticeably the united states in the uk well i i definitely agree with you that there is a big risk of shifting towards authoritarian regimes actually this monster that would be an authoritarian neoliberal state and to a certain extent even france is slowly going in this direction in the sense that the state of emergency looks like an alibi in order to to implement you know a police that is much more much more in crying about what the private life of people that it as it did earlier same story in a number of european countries um i would say you know in equal to what you just said um just a few remarks the first one is you spoke about the deification of markets i totally agree and that's a product in the sense that even if you look at the most orthodox neoclassical economic theory namely it's known since more than more than 40 years actually since the 80s that incomplete financial markets are always or almost always inefficient and deeply inefficient they are not even certain best efficient so that's a product that at the same time in the 80s you have people like john jenakopoulos or andrew mascolan proving mathematically speaking that incomplete markets are inefficient and even that even if you you have some financial innovation in the sense that you add a new financial derivative then this is not necessarily reduced in efficiency of markets um this is a beautiful result by ronal elu in the 90s and at the same time in most western business schools you would find people teaching you know that financial markets are efficient that they know everything that they predict everything and that we should just rely entirely on them so this is this is a big product the second remark i would like to make is that um yeah i totally agree with you that the the alternative the dilemma between the state on one hand and the market on the other hand is quite simplistic in the sense that um you know it's an heritage of the old dichotomy inherited from law between between the public and the private but as was shown by by elinor ostrom there are a number of other categories of goods and services and for instance decommence and and this provides me an answer to your last question which is what would be the road towards an alternative um from the authoritarian neoliberal state uh the the authoritarian neoliberal state is a way to combine the state actually to capture the state that is the public instance in the society uh to to make it serve some private interests and that's to my from a viewpoint the essence of of neoliberalism which is which has nothing to do with the liberal project of of the political liberal project of enlightenment in the 18th century which was to protect people from tyranny thanks to the law so neoliberalism does exactly the opposite it captures the state it captures the law the public instance in order to force it as to serve some private interest um serving a minority of people now the the project the political and social project of the commons goes exactly in the in the other direction saying everything depends upon the the resources that we want to to manage and to deal with and of which we want to take care as a community and that we want to turn into a commons that is it it means that there must be a community which invents its own rules in order to take care of the commons be it let's say a free software be it education be it the money the money could be viewed as a commons be it even label why should label be considered as a private commodity um which is exchanged on the market um and why not as a commons which take part to an interesting project um socially useful uh embodied in a company um and also of course naturally of course ecological ecosystems uh ecosystem services could also be viewed as as commons um and by seeing this of course i'm i'm referring to carol polany's famous trilogy the earth ecological ecosystem services and money and and labor so this opens a huge a huge research program which is both intellectually fascinating and politically very um i think very revolutionary it's consistent saying well we need a third a third party in the in the old dilemma between the market and the state namely the civil society which creates commons to give you an example when i was the chief economist of the french development bank i served there for five years um uh we discovered that actually in a number of situations if you help communities underground organize themselves in order to take care let's say of water as a commons this is much more efficient than privatizing the water or than asking the state the bureaucratic state to take care of water let me just give you an example in um 2017 actually lapath in bolivia which is one of the two captains of bolivia as you know and which is located very high at 4 000 meters high lapath had a big problem with um with water the distribution of water and namely lapath went through what is called the day zero during the summer that is the the day where you don't have water and tap with what you know is is a is a very complicated situation for many people um so that this means that rich people in the center of the city didn't have any access to drinking water but at the same time poor people in the suburbs of lapath which had organized themselves in order to deal with water as a commons they still had water during the whole summer so they didn't suffer from this terrifying situation where you don't have any access to drink water and this it seems to me i mean this is the way we understood it at the french group and bank this is a very fascinating example of the fact that actually taking care of a number of resources as a commons is much more efficient than trying to privatize it or to ask the state to take care of it of course water is just one example but we could also think of as i said earlier a number of other other issues so you know not to be too long let me also give you another example which is money we could read you know the the experiment of the eurozone in europe as a way actually to privatize money in the sense that the european central bank doesn't have any political counterpart to which it should talk in order to make a decision uh that's the the famous dogma of the independence of the central bank which i believe doesn't have any analytical support even from a purely orthodox viewpoint because i mean asking the central bank to be independent from the political power means that money should be neutral in the sense that the quantity of money circulating in an economy doesn't have any impact on the microeconomic variables of the economy except the level of prices the absolute level of prices which is the standard quantitative monetary theory but as you know this is entirely wrong and perfectly speaking we never observe money and neutrality repeat in a short or the medium run or even the long run which means it makes no sense to disentangle fiscal policy from monetary policy but nevertheless we have done it in the european in the eurozone so that the ecb today is on its own to make decision which means actually the ecb is talking to the private sector and those who really have the power to create money without having to rely on the state in in the in the economy these are the private banks so to a certain extent we have privatized money in the eurozone now the question is is an alternative so if you think of the classical dilemma between the state and the market you would say well the alternative is to increase the the reserve requirement from one person as it as it is today in the eurozone to 100 which means then that the ecb would decide directly what type of credit private banks could emit or not which to a certain extent would mean that the ecb would have the total control on money creation through credit but i don't believe this would be the necessarily the good the good answer there is an alternative to this dilemma which is money as a commons and all the complementary monies i mean currencies and that are created everywhere in europe or in latin america or in africa today i don't know yet about the us but probably it's also occurring in the us as an example are all the examples of communities that try to recover some power on the money creation so they create their own money on their own and they manage it in the way they want to do it so they may have artificial inflation because they do believe that this is a good thing these these forces people to to transact with money and not to try to keep it at home and there are some very successful stories as you know i mean in sardin for instance in the south of italy you have to so-called the sardin which is one example of a complementary money whose volume of transaction each year per annum is one one trillion euros so that's a lot of money um and so this is an example and it seems to me that's the real alternative to the authoritarian neoliberal state that might emerge from this big pandemic you know by the way i note uh ragu rajan wrote a book recently the former uh he's a professor at chicago business school and indian central bank governor called the third pillar and it sounded very very similar when you said in between the state and the government there's uh the third pillar in his mind was that local society but i think i think it's fascinating to me you know you're talking about water i come from detroit michigan and around the great lakes and the bankruptcy of detroit the flint water crisis i mean is it not absurd that at the time of the detroit bankruptcy they were cutting off the water for poor people and trying to sell the uh detroit water and sewage which is the largest freshwater uh public utility in the world to a private french company actually called suez so that they could then not have to pay the pensions of all the workers because you you had to pay public pensions but if you privatized then there would be a windfall and at the same time in flint michigan which is about two baseball throws away from lake uran which is an enormous body of very high quality fresh water they managed to pollute the children with lead in the entire society so it's it's almost like we didn't see the warnings in michigan and i'm sure in many many other places of how this system is is how would i say doing something monetary that is different than providing value through service but i i uh i also am very intrigued because you were talking about money and you're talking about the privatization money central banks the relationship of the state prior to the onset of the pandemic you were doing i mean you have been doing but many people were building a great momentum towards what we might call the green new deal a monetary financed fiscal expansion that would invigorate aggregate demand and transform the structure of energy on planet earth in ways to make our environment sustainable and obviously it was a global project and it required collaboration between many many countries but particularly the eu the united states china and india and japan how do you see now where people are disoriented by the pandemic we're using a tremendous amount of fiscal capacity to address that challenge how do you see the prospects for resuming the whole call to action to address climate sooner rather than later it seems to me there is already a big argument between on the one hand a number of people in the civil society saying well we can't we don't want to resurrect the old world after the look down and after the pandemic so we need to take this opportunity to to accelerate the transition towards society based on renewable energies and and protecting and taking care of the the economic and services and on the other hand you have a number of people including some political leaders including in france uh who are saying exactly the opposite namely you know we are going to have a lot of unemployment probably something like 25 persons in front of jobless people um the unique way to to provide them with jobs really rapidly is to resurrect the old world because we don't know how to differently from that and and at the same time we have a huge public debt i mean just to take the example of france i mean the public debt of france was 98 person of the gdp before the pandemic and probably it's going to jump to 115 uh italy is probably going also to jump to 160 maybe even more than that and probably financial markets would then just say well you have a public debt problem as usually um and then this will serve as an alibi to say well we have to reduce public spending and we don't we don't we can't afford to finance something like a great new deal which would be just catastrophic but this would mean that uh we are once again losing time as you probably know the last simulations that are run by some climatologists from ipcc and some friends of mine tend to show that just before the pandemic um we were running not just on this most pessimistic scenario of the ipcc which is the lcp 8.5 as you know which leads us somewhere between plus four and plus five degrees um of increase of average temperature on earth at the end of the century but we were even above that so we i mean because there was an acceleration of global warming in the last in the past few years so not taking this opportunity to implement a green new deal would just be catastrophic and would probably bring us back to this very i mean to the this business as usual scenario which is very frightening um at the same time of course we have to find solutions um in order to to to provide some funding uh ways i mean to to provide some ways to fund the green new deal in the near future my viewpoint is this is what i tried to to emphasize in the in the last debates we had in europe is that we should think about canceling part of the public debt of a number of countries including in the eurozone i know that this is a taboo today but but actually if you think about it i mean the dcp in the last five years about something like two trillion of euros of public debt from sovereign countries in the eurozone for friends this is 400 uh billion euros this debt now is in the balance sheet of the ecb suppose we cancel it what's happening actually nothing i mean this does not prevent the ecb from from creating money and there is a report that has been published by the the bank of international settlements in switzerland which shows that a central bank can perfectly work and does and do his job with no equity at all or with negative equity so the equity of the ecb today is just uh something like 80 billion euros that's nothing so it's not the equity of the ecb that provides credibility to the euro i mean that's just a fairytale so um so that's what provides credibly credibility to the euro is the the fact that the eurozone is a wealthy economic area um and then the best way to save the euro is on the contrary to implement a great new deal um and certainly not to say to say oh we we don't do we can't do anything because we have to to save the the equity of the ecb so so if we were to cancel the the public debt of the eurozone countries which is in the balance sheet of the of the ecb i mean nobody would lose any money no private actor would lose anything the ecb would make a big loss but that's life and in the european treaties it's not even written that countries would be forced to recapitalize the ecb so we could just leave with it and this would save a lot of a lot of money and give a lot of freedom in terms of you know fiscal freedom for and above countries or so for friends it would be something as i said like 400 billion euros that's a lot of money and with this you could easily finance a big great new deal uh in the next in the in the next decade um there is a small debate in this direction now in the number of countries but of course as you can imagine as i said this is entirely taboo and a number of people in germany and netherlands will just be really shocked if this happens one day but i but you know thinking about it i i truly believe that if the alternative is between this and it is non-orthodox measure and on the on the one hand and on the other hand a big depression worse than the one we had in the 30s during 10 days i definitely chose the first option in the uh how would i say uh process of the green new deal i feel like we're uh we're we're suffering a little bit from what i mentioned earlier the lack of faith in credibility in government yeah we're suffering a bit from the fact that the former system the one you called neoliberal that demonized public service and deified the markets yeah uh even even before was not shared by the largest country in the world which is china not the largest economy i think it's still the second largest economy yeah but but we have a clash between systems a clash between philosophical systems between the western cartesian enlightenment and the uh chinese and eastern philosophies yeah and we have enormous pain and dysfunction we have a place which in india is about 20 of the world's population and it uh needs to have higher standards of living but it can be at the margin one of the greatest uh either contributors to climate change or uh dangers to sustainable climate change depending on the path they choose and whether they get multilateral assistance but in your and my conversations prior to this conference uh this this broadcast we've talked a little bit about how the multilateral system needs itself may be dying needs to be resurrected is caught in all of these cross currents how are we going to bring global collaboration which i believe you tell me if you think otherwise i think is a necessary condition to achieve the goals the ipcc and others uh have told us are necessary to our survival yeah totally agree with you and and i would even say this is the main the main political and philosophical challenge we have to face in the next decades which is on the one hand you have to relocalize part of our production system uh which goes in the opposite direction of the globalization the way we have implemented it in the latin news and at the same time we have to improve considerably the type of cooperation among states that we can we can experience today um in a situation where multilateralism in the way we have constructed it in 1945 with the united nations and the breton woods agreement um this is collapsing today i mean the united nations um uh security council could not even make any declaration about the pandemic and that's the first time since the second world war that it's we observe such a paralysis of this body um the leadership of the us is gone as i said and then we have to reinvent a new a new multilateralism in a in a situation where as you just mentioned we seem to have a big clash of of of civilizations well china india and western countries to to be very simplistic or simplistic it seems to me the way i would try to deal with it and to think about it is is the following um it seems to me if you think of the different categories of of commodities and goods namely private public comments and there is a first one which is tribal or network goods so economists used to think about it as let's say for instance an iphone um or internet wikipedia this is a network good in the sense that the the more numerous people are connected who are connected to this the more valuable it is but we could you could also think about it as a tribal good um which means that in order to access to have an access to it you need to pay a fees to pay some fees and once you are in the tribe then then it's a public good but just for the tribe so if you if you have in mind these four categories private public comments and tribal um then we could say to a certain extent this clash of civilization if you want um means the following um china actually never really invented the public instance china never had the the what we had in western countries namely the gregarian reformation in the 11th century were actually the church invented for the first time this the modern state um creating a law which was canon law at this time creating a body of civil servants namely the clergy which was an international class of of civil servants and so that i mean all the western countries including the us have to a certain extent just replicated what the church invented in the 11th century what we have done in this in this context is that we have formalized the public instance um of course at the same time we had also the private um let's say category which never disappeared which was already there in the roman empire namely private ownership and of course the comments and of course the tribal also which was present in europe and in in the us but china it seems to me never had the public momentum never had a state in the sense who understand it since the 11th century um the the main the the most important category in china at least according to conventionism is the family that is the tribe it's a tribal category and the the reason i think for which it's so difficult for chinese to think of a democratic state is that um they don't have in their own culture as far as i understand it and maybe i'm not a patient of china of course but the way i understand it they don't have this uh philosophical instance of a public body uh which would be the state in the way we understand it in western countries i would say the same story for for india to a certain extent so these are two big countries whose civilization is based on on tribal concepts namely for instance the family in conventionism and which are in count i mean which are just meeting our own countries where we do have a public body um a private sector comments and also tribes and then this is the place where it seems to me we could enter into a fruitful dialogue trying to show to the chinese and i'm sure they can understand it and they have already understood it that having a legitimate strong public sector uh is efficient for everybody even for the private sector so it seems to me that's the big the big challenge that we have to uh to win in the coming decades in in the dialogue we are we are having with china of course in this big game there is a an actor which is uh to say the least very ambivalent namely namely russia russia knows something about what a state means but at the same time russia is is i mean embarked today uh thanks to let me put in in a in a pan slovic political program which i'm afraid to say is not really compatible not really compatible with any democratic efforts that we could try to implement in western countries so uh we've covered a lot of the issues that you uh have illuminated for our commission in light of the uh in light of the pandemic and and i find this very very nourishing but this uh global commission was looking at essentially the four we've called it the four sources of disruption and then induced disruption meaning technology financialization climate and what we might call the uh challenge to the nation's state of globalization and then finally the induced disruption is migration when things don't add up people try to leave out of despair and that itself is quite disruptive how uh how do you think this commission that we're all co-architects of together should reorient its priorities in light of what we've learned and what we've discussed today well i would say you know the four the four main topics you were just mentioning are the right ones i mean are the most relevant ones what i would say from my viewpoint is that um i would personally try to emphasize something i mean a big research program to which i try to contribute which but of course i'm not alone in this in this game namely something like reconstructing macroeconomics towards um what we could call an ecological task-ennisian macroeconomic theory um for the for the following reason if you look at the mainstream microeconomic theory but that's also of microeconomics um it it deals with capital and labor and claims that we can produce wealth um just with capital and labor which is of course a nonsense i mean if you just think in terms of the first two loads of thermodynamics we know that nothing can occur without energy and we know that in the process of dissipating energy the quality of energy is declining that's the second law i mean the the necessary growth of entropy and once i had a discussion with um with valérie mason delmot who is the president of group one in ipcc that is the group which is dedicated to the physics of climate and she she asked me in a very provocative way well you economists you're violating the first two loads of thermodynamics every day with your models and and you don't care you can sleep peacefully and um while i had to admit she was right um and this is this is one of the main reasons i believe why microeconomics is unable to deal with the big problems that are raised by climate change and the erosion of biodiversity simply because in most of our models i mean climate does not exist nature does not exist energy is plays a very minor role and matter does not exist so it seems to me what we have to do definitely is to to think of microeconomic theory as formalized through dynamical systems because as i said earlier i mean equilibrium theory does not make sense i mean there is no reason to believe that an economy is at equilibrium and we have very very good reasons to believe that it's not at equilibrium but that it's you know wandering maybe towards an equilibrium but then we have to study the conditions under which this equilibrium is locally stable or not first and second to understand the impact of a number of physical constraints on on microeconomic theory to just give you an example i mean if you try to try to understand why since the the second oil shock at the end of the 70s and since actually the 1985 where the price of oil came back to the level it had before the first oil shock western countries never succeeded in getting back to the growth rate that we had during the 13th glorious years even though there was apparently no market constraint on on the oil and one explanation one possible explanation is that we have reached the conventional peak oil in 2006 at the world level as you know with something like 98 billion merits per day which means that there is a i mean the scarcity of oil extraction might have been felt earlier and why not in the 80s so to a certain extent it might be the case that the reason why we never had the kind of growth rate in western countries that we had earlier we have in every country at the same time an increase a huge increase of both private and public debt and a huge increase of inequality all this might be linked to the fact that there is a growing scarcity of oil extraction beginning in the 80s so that to a certain extent we were without knowing it we were compensating the lack of not the lack of oil but the lack of the impossibility to accelerate the rate of oil extraction we were compensating it by increasing debt as a way to to feed to feed growth in our economies debt increase of course which feeds in turn financial bubbles housing bubbles and inequality so this means that not taking into account the physical constraints that we are facing might be the big elephant in the room that we have totally ignored in microeconomic theory since since decades so I would be my my view point is that what we should emphasize is this especially because as you know in the in the near future there will be a number of resources natural resources whose the question might reach a peak also in my own research with with physicists geophysicists we have found for instance that copper might reach a worldwide peak in in 2060 so and this would be very problematic because we need a number of we need a lot of copper especially for green infrastructures and you know probably that green infrastructures need an average much more copper than infrastructure dedicated to fossil fuels so if we don't pay attention to the way we use copper today if we don't organize recycling procedure procedures in a very efficient way it might be the case that we will be running not running out of of copper because there will still be a lot of copper but we won't be able to increase the quality of copper extract from from earth every year in a sufficient sufficiently rapidly rapid way so as to be able to implement the the energy shift to what to what's renewable energies which would be very very silly so so yeah I would say this ecological post-canadian microeconomic theory would definitely be a huge research program that I would try to emphasize I would add one word regarding climate um within this research program there is a big issue which is how to understand the impact of of climate change on our macroeconomic systems as you know there are some economists I mean mainstream economists like Bill Nordaus who keep repeating since 30 years that while we might have something like plus six degrees as an increase of average temperature at the end of this century and this would cost something like you know minus 10 percent of the world GDP world real GDP well this is less ridiculous if you think if you talk with climatologists I mean they just they just laugh when when you tell them this story and they just say you know plus six degrees that's that's the end of the world to a certain extent so um of course there are some alternative damage functions that are less ridiculous than the one that has been used by by Bill Nordaus for instance uh Weizmann has an alternative function and and Dietz and Stern Nick Stern also have alternative functions which seem to me much more realistic but we don't have a really I mean convincing scholarly I mean founded debate on on damage functions so that actually we don't know how much it will cost us if we don't do anything uh along the business as usual scenario even on on purely monetary terms um and this is cumbersome because it prevents us from taking good and strong decisions today just because we don't know we are we are blind about the I mean the cost of not doing anything in the near future so there is a big research area here which is to understand um to have more more realistic damage functions and to understand how much it will cost to us not to do anything just as an as an illustration with with two colleagues of mine we have written a paper that we are going to publish now which makes the following start experiments so we we take two of the probably most convincing damage functions that are used today in the literature both by economists and climatologists and we test them not on a global warming but a global cooling so we make the the third experiment let's suppose that we we face two more morning minus four degrees cooling on earth which would be exactly the the reverse situation of the the one we are going to experience in the coming decades why minus four degrees because this is exactly the the temperature of the last global glaciation that we had something like 20 000 years ago and we have a lot of information but the way I mean the about the the the earth in in this period so that we know exactly how the earth would look like if we were to explain some minus four degree cooling so it's there is no way to escape from that and to say well you know there is some uncertainty about about the impact of climate change if we had this cooling we would know exactly we would know exactly how this would look like and actually half of western countries would be just under ice under a big layer of one kilometer ice so we know this would be certainly a huge collapse of the world economy and nevertheless the damage functions that we have tested claim that growth at one level would still take place i mean GDP would still increase which is ridiculous so that definitely is an area of research it seems to me which consists in trying to have much more realistic damage functions as i listen to you i uh recall a movie whose title was six degrees of separation and that title takes on a new likeness uh six degrees might separate us as human beings from planet earth and uh i think this uh the urgency i i there was a former you probably knew an italian economy and finance minister uh tomas so potty a skill and he he gave the last speech at the very first inet conference in uh at king's college cambridge in may of or april of 2010 yeah and when he got done and he by the way later codified this in writing in the pair jacobson lecture for the imf about a month or two later uh and what tomaso said was the challenge for inet was that there were three types of sustainability financial resource and social social and that they would all interact and when he sat down which he later elaborated in the pair jacobson election he sat next to me at the dinner he sat down and he said robert this conference will deal with financial sustainability that has been revealed not to be on track yeah it will create a great deal of suspicion about the relationship he said between croceus and the emperor between governments and the power of money and this will sow the seeds of social discord and social distrust and he said and then with inequality and how inequality will be exacerbated by climate change yeah mankind will have its greatest test and it will all ultimately focus on social sustainability because without social coherence we cannot govern and i remember just sitting with him at dinner feeling that scenario that perception wash over me and i recalled it today as you were talking about ecological macroeconomics in in the post-cangean realm because it seems as if like you talked about with the physical constraints and so forth that our macroeconomics presumes all those other sustainabilities are not in play and particularly environmental resource sustainability but i guess uh you're in dublin yeah and as i uh as i listened to you today i was reminded of a song that i've been very fond of by you too which was called 40 comes from psalm 40 from the bible yeah and the second verse the lyric is he set my feet upon a rock and made my footsteps firm many will see many will see and hear i will sing sing a new song i will sing sing a new song how long to sing this song well gail i think you from dublin are singing a new song in economics and it's one that we must hear and you're helping our global commission firm up our footsteps and to build a vision that we hope and believe that many will see and hear thank you for being my guest today i look forward to working with you and i look forward to having perhaps another chapter together any final thoughts thank you for for quoting the psalm 40 you know this song was written by by jews when they were in captivity in babelan in exile actually and so they were crying and saying we are in a very complicated situation our country has been destroyed the kingdom of david is destroyed the temple is destroyed everything has been destroyed but nevertheless we have faith that a future is possible so it seems to me yeah we are getting close to the situation and we need to keep faith yes well the song by you two started with i waited patiently for the lord he inclined and heard my cry exactly he brought me up out of the pit out of the myral and clay i will sing a new song i will sing sing a new song gil we'll have to get together again for another chapter of economics and beyond sure but this has been delightful today and i thank you again thank you see you again bye bye wait and check out more from the institute for new economic thinking at inet economics dot org


Hi everyone, Joe for jaspyscasebreaks.com with another Joe for jaspyscasebreaks.com there. You're wondering, what the hell's going on, Joe? Well, last Saturday, I guess I did that break, break number four right on your screen right there, Chronicle Soccer, Team All Edition, break number four on Saturday the 15th, August the 15th, 2020. And I forgot to upload the video. And then days later, we usually archive these videos, and we'll go behind the curtain a little bit. We archive these videos in a different folder and I delete these videos every once in a while. I guess I got too aggressive and usually leave like a week or two of videos behind, but I went all the way to the 16th and accidentally deleted that so we couldn't upload that. And then Nick couldn't grab the full stream to cut out and paste. And then we already had it packed up and shipped out so we couldn't just do a recap for you. That's the whole thing. So apologies to these folks right here looking for this video. Team All Number Four on a Saturday right here. This is how the randomizer shakes out right there. So there you go. Once again, and then you'll see the randomizer right here. There you go. So I'm just gonna keep that rolling. And you don't need to hear me talk right here. I'm probably saying it's Team All, blah, blah, blah, blah. Those are the boxes. Those are the names. Those are the names. I don't know what I'm doing here. Oh, was there an early bird spot? I don't think so. The break credit, remember that? No, there was no early bird spot. I was just putting names. All right, actually, so there it is. There's gotta see the randomizer. That's important. Oh, we doubled your names. That's what it was. Okay, that's it. So this part you gotta see. This is important to record. There's eight times. See Robert down to Robert. Am I like, I'm broadcasting my own recording? Cause there's no, I can't pull up the audio for this. So you can't hear the audio. I have to explain what's happening. But you know what's happening. I'm randomizing. Do I redo the, should I read, broadcast the break itself? I probably have to. Probably doesn't matter. But you'll see it. All card ship is probably what I'm saying as I'm doing this. I'm gonna read off that entire list, but you saw it anyway. Look at me saying all those team names, so on and so forth. So there was a missing team. So that's why we're giving away break credit. So when you, there's more team all on the site right now, team all chronicles, team all soccer, which is a big e-commerce site there. Well, the break's already done. It's complete. I just need to show them that it was complete. It's already shipped out to 116. So it's gone. It is out the door. For the people who watch it live, they know it exists. It's for the people who didn't watch it live. All right, so you can see all the names right there. It's jump 10 seconds, jump 10 seconds. I'm sorting by team, jump 10 seconds. I'm wearing the same thing, except without a hat. I'm like a cartoon character. The clothes don't change. Where am I going? Oh, why do I have baseball scores out here? Come on, Joe. Oh, because this is the trade window. I probably have it paused. So that's what I was looking at during the pause. All right, I'm letting people trade, letting no one's trading. Joe, go get those boxes. Here I am back, typing stuff in, typing trade window clothes, waiting for the thing to print out. It's a nice studio. We have a nice studio here, folks. I usually don't rewatch myself do this. There's the print out. There you go. You know what I showed you the list already. Ooh, nice one trade. You just bought the bangles and certified.  Scared might don't make money. Unknown, it's true. It is true. That drops on Friday. I'm pretty excited about that. All right, there you go. I'll let you watch the video right there. You can see all the players' names and whatnot. All the stuff has been shipped out. I'm doing Serie A, the Italian league first, then La Liga, the Spanish league. You know, nice Cristiano. And then we'll do the Premier League. I think in all the boxes, there's some red parallels in all three mini boxes. And I'll do a randomizer at the end of this video, too, where it shows, because there are some clubs not listed, that'll appear in these boxes, but aren't listed in that group right there. So, and I'm leaving all of those rookies too. Yeah, I'm pointing that out right there. There's the red. So the red and the purple, which you'll see in the Premier League, is what's exclusive to this team all set, and exclusive for China. I'm not super familiar with these Italian teams, so, but rest assured that they're going to the right clubs. And that the clubs that aren't represented will be randomized to one person as one lot. Enjoy. Love the sound of the baseball game on the background here. Seattle up 6-3. No, gold standard's already out. That dropped last week. Break down these boxes, well, I'm re-recording the recording. I'm sure if anything monstrous popped out of here, but. So folks, if you're just joining us, and you're wondering what the hell's happening, there's no audio on this either. This is Chronicles' Random Team, Random Club number four, I think. You'll see it again at the end of the video. Four, which I forgot to upload on Saturday, and accidentally deleted the video for it, so we couldn't re-upload it, so I have to re-record the recording. It happens, sorry. No audio on this, apologies, but I think it's pretty clear on the screen here if you'll be able to see it. In the meantime, folks, we can run this back tonight. Jaspy's casebreaks.com, we've got another two boxes available right here. Soccer, just like a lot of other sports, basketball, football, baseball, values have been going up and up. I think Panini recently, maybe in the last year, have started adding RC rookie cards to some of the names right here, so that gives it, if you're rookie hunting, kind of gives you a good starting point for chasing rookies, which is great. Where did I go? What's going on here? What am I doing? Can I fast forward through this part? Am I looking for top loaders? Probably, sorry, a little time wasted there, but. But yeah, so I mean, if you were in this break, I would look up all those rookie cards that I'm sending you. I don't think all cards ship anyway, but I would just look them all up. It's worth looking up and seeing what the deal is.  Anyway, I would look them all up. And even if they're not selling well right now, throw them in a drawer, save them, because some rookie could emerge and be big time. And you never know. Jesus, finally Rex. You finally got your Jatsby shipment that was shipped on the July 30th. Post office getting better, being that it was less than a month.  I don't know, yeah. Be patient with the post office, folks. I think there's still, they're the volume of stuff that they have to ship. Is they're just at max capacity and then some, you know? We had a UPS guy tell us, and I'm sure it's the same for the post service, but we had a UPS delivery person tell us. It's like Christmas, but worse. It's like Christmas times two, you know? I think because of social distancing rules, during Christmas, whatever mode I understand, during Christmas, the delivery services like UPS and FedEx will have like two people to a truck or something like that. One to help unload, just got an extra hand basically at all your stops, but you can't, so it's just these men and women running solo in these trucks filled to the max. So it's been happening with all the delivery services, really, in the most, post service especially. So be patient, folks. I know some of you are lucky, some of you are still getting your stuff right on time. You know, usually from break to your door, it's about seven to 10 calendar days, right? But for some other people, you're waiting week, two week, three week, four weeks. If you feel like your pack is delayed, if you go to jaspeaskasebricks.com, there's a support button on the bottom left. I'd give it like an extra, give it like an extra week. If you think, if you haven't received it yet and you're like, usually I get my jaspy packages right around now, give it like an extra week. Cause usually just our answer will be, sorry, just wait. So give it an extra week and most of the time it'll just show up. But pro tip for when you're doing eBay listings, this is something that we were talking about before I keep forgetting to mention that. When you're doing your, when you receive our cards, right, from our group breaks on jaspeaskasebricks.com and you're reselling them on eBay or a secondary market, make sure you put in the ad description really clearly. Hey, pandemic going on, you know, post office is slammed, there's gonna be, there potentially might be delays. Cause I've heard stories, I've heard stories where people are like, oh, like I haven't shipped out and it's en route, but the tracking isn't updating cause they're so slammed, blah, blah, blah. And then people ask for refunds and that, that's a whole hassle. So try to make that as clear as possible in your, in your descriptions to pro tip. Yeah, Rex is saying, I get it. It's frustrating, frustrating as it is. He gets it. Rex is saying, I talked to some people, postal workers are saying some packs are being quarantined. Right. Yeah, the tracking, the lack of tracking updating, I wish they would still be able to do that because I think that just stresses people out, because they're like, well, Joe, it's in LA cause like stuff from us, it'll be like, it'll look like it's stuck in LA, but it's not, they're just not updating the tracking. And they're like, well, it's not, it's on its way, but I wish they would do at least a couple stops. They would just kind of update it just so people don't freak out. That's a good call too, Will Christian. Yeah, hi, Will. Or if you're not using the post service, UPS and FedEx is a little bit, they're rolling a little bit better too. Maybe offer services like that. Okay, so that was the break. I'm doing the randomizer for the clubs not listed on the item description, which you can still see right now, jaspyscasebreaks.com, the next break is already up. So the name on top is gonna win all the non, all the clubs in one lot of all the teams not listed on that list. It's a long day. So, all right, come on, Joe, what are you doing? There you go, come on, get on with the show, Joe. I'm sure I'm saying something important, but without audio, I'm like, what are you doing? What am I doing? So 10 times and looks like it's gonna be Nick Koba. So Nick, if you're watching, rewatching this video, you'll get any of the cards not represented on the list of which I think there are many. So you might get a stack of extra cards there. And I'm saying my goodbyes, blah, blah, blah, blah. Is that it? Right, and then I stopped the video and this is the live stream feed. So I'm just re-sleaving all of those. So there you go, Ryan Gomez, this break was August 15th, 2020. Saturday, August 15th, 2020. I forgot to upload the video. So I re-recorded this from the live stream feed right there. All right, there you go. Thank you very much for watching, everybody. That was the re-recording of Chronicles number four, I believe. Yeah, number four right there. There's the listing right there. Well, there's the whole list once again. Thanks for watching, everyone. Apologies again for not uploading that video. Sorry, there was no audio here. But I'm trying not to screw it up next time. Thanks for watching. I'm Joe for jaspeakcasefrakes.com. Breaking number five is in the store. Check it out.


It was a bit of fun. OK. It'll be all right then. No, it was great. Did I do it? Do you feel bad? No, I'm happy. I just think they're all delirious. No, I am. It's a nice bit of cash. It is. It's lovely. And it was great to listen to as well. All right, thanks, Lee. Cheers, mate. All right, take care of yourself. It's the 9 o'clock noon show here in Highland Radio. Our Friday panel about to join us to discuss some of the big news stories of the week. But first, at 9 o'clock, we get a news update and it's good morning, Donald Kavanaugh. Thank you, Greg. Good morning. The motion of no confidence in the government. The party confirmed the move this morning. The motion will be brought before the doll next week. They have challenged independence not to support the current government, which lost its technical majority after Dunlegal TD, Joe McHugh resigned the Finnegwell whip and voted against the new defective block scheme. Sinn Féin's agricultural spokesperson, Matt Carthy, is rejecting claims that the motion is a waste of time. We have a responsibility, I would argue, an obligation to hold government to account and to challenge a government that is failing. The government have been in office for two years. As I say, if you look at all of the big parameters, all of the areas on which people need government to act and act decisively and act in a way that actually delivers for them, government have been failing. Over 5,200 people have been waiting over five years for hospital treatment. According to freedom of information figures, they're looking for an outpatient, inpatient or day case appointment. Gov University Hospital is the worst affected, nearly 800 people waiting over five years for appointments there. Some of those will be from Dunlegal. Well, Dunlegal GP Keir on a ferry says, while five years is an inordinately long time, lengthy waits are the norm. The norm for us for many services is expecting people to wait over a year and you're warning them of that. And unfortunately then, as GPs, we're trying to deal with them on a day to day and a week by week basis to try and maybe manage their symptoms, making frequent calls, writing repeated letters to try and get people access to the service that we feel the needs. The number of individuals and organisations being targeted by the Criminal Assets Bureau in Dunlegal has fallen substantially. The Bureau's latest annual report shows 28 targets in the county at the end of last year, down from 48 at the end of 2020. That's a drop of nearly 42 percent. The figures show Cab is investigating almost 1,800 targets across the country, including 27 individuals or crime gangs not resident in Ireland. And Facebook and Instagram could be shut down in Europe as Ireland's data protection commission plans to follow through on an order stopping them transferring data to the US. Parent company Metta has repeatedly threatened to cut off the sites claiming transferring European data to the US is vital for its operations. However, European authorities continue to have ongoing privacy concerns about the storage of information in the US because of surveillance programs there. The Irish Independent's tech editor Adrian Weckler says the Irish data protection commissioner, Helen Dixon, is taking the lead on this. She has sent her draft decision.


Hey friends today. We're gonna do some shopping for some Disney treasures We're gonna be visiting some antique stores and thrift stores and flea markets close to Walt Disney world to see if we could find Any special Disney treasures some of these places have some pretty rare props some Disney resort furniture and just everything I love any who's let's go do this My first stop of the day is gonna be here at Forever Vintage and surplus and I love coming here They always have amazing Disney stuff some things that are super rare like this world of Disney Carpet that used to be in the world of Disney When Disney does renovations on their resorts they have countless amounts of extra surplus of things like beddings pillows and Things that they just always had that they can put in the rooms and then once they change it up a little bit All of those things end up somewhere and they usually end up right here If you have a favorite Disney World resort you can find the pillows the blankets and everything look at this That is mind-blowing isn't it they have a little bit of everything they have the contemporary These are the contemporary pillows. They've got the Grand Floridian the Riviera look I think these are the Riviera ones. They actually even have the Riviera right on them I believe and like just out like countless amount of bedding down here are the Pirates of the Caribbean rooms again Oh, they actually have the little artworks to show you every single one Grand Floridian Disney's Grand Floridian What says oh art of animation. That's the Lion King room Saratoga Springs The contemporary and they're like $20 a piece and there's so many some of them are brand new Never even used Disney's Bay Lake Towers bed scarf $40 Take a look at the Pirates of the Caribbean picture right here These were in the Pirate rooms at Caribbean Beach resort and that is so cool It's even got Jack Sparrow on it and I think it's selling for $325 this one sold but I know they have a lot of them because all of those rooms just got refurbished or refurbished Take a look at these framed photos that were from the Grand Floridian bathrooms And these are awesome because there's Alice in Wonderland and they're brand new These were supposed to be put inside the Grand Floridian and they never made it there and that is so awesome $195 they also have Mary Poppins and I don't know if I see those here yet But that would be cool and I just kind of like them because like I said, they're brand new I Love these yacht club Mickey lamps right here These are always amazing because you got a little Mickey on there But unfortunately a lot of them come with like a broken nose or broken ears And these ones are actually in pretty good condition and these were all in the yacht club rooms So there's quite a few of them out there and they're $295 but like I said, it's really hard to find them actually intact and I think they have a couple of them here and they're so awesome like it's Mickey and he's got a little Mickey He's got to hit a Mickey on his Mickey head Like I said, if you guys need any information like pricing on certain items that I'm not able to tell you to price on Or if you're asking about shipping, I'll put all the information in the description below They do have a separate group where they'll actually ship out smaller items And I think that's something special that a lot of places don't do so like they'll post Pictures of items that they'll say hey if you want to buy these online, we'll ship them out to you And that's awesome because then you don't have to come down here. This is actually only open on Saturdays It's only like a weekend thing You know how I like to go around and like flea market hunting or thrifting on the weekends and that's like this place You know, I mean only open on Saturdays, but you do you have the option to actually get things shipped to you And I think that's really amazing. I Got super excited about getting one of the blue stools from the blue room at the wave and take a look here You can actually buy a whole dining room set. It has the table. It has the four chairs This is all from the wave that is amazing They have it individually marked like the tables fifty five dollars and then the chairs are forty five dollars But you can have a little bit of the wave at home That's awesome And then over here you have a lot of Polynesian resort furniture and I like the Polynesian coffee table That is super fancy and this whole entire entertainment center back here This is all from the Polynesian suites. Look, there's a picture of it That is massive though $695 for this whole entire unit They left tons of furniture like things that you would be so shocked that it's actually here right here I think these are from the art of animation. They are these are the headboards for The little mermaid suites $200 and they have the mirrors too That is so cool. But like I said, just take a look at this Tons and tons of furniture. These are from Pizzafari Pizzafari the little bug chairs I think that is a bebedy a bebedy-bobbedy boom like barber chair really awesome When it comes to resort furniture or artwork, I love the things that you immediately look at it And you know that is from Disney or you know exactly where it's from and I'm gonna show you my favorite thing here And I wish I can get this because it would be so amazing, but I don't know how I would actually transport it home But I love it The pop century Mickey headboards. These are so cool There's a couple of different Mickey's on here and they have little light fixtures inside them and they're just so amazing I love these. I'm not too sure how much they're selling these for like I said if you have any questions or if you want to know how much anything is just Reach out to them. They'll be able to tell you everything and this is brand new in the box Actually even tells you right here Isn't it insane? Disney's pop century room rehab framed artwork and I love it. This was right above the bed. So cool. I Know a lot of people like Port Orleans and here's a couple of artworks from the rooms And these are princess and the frog inspired artwork and these were in the Port Orleans rooms And you can actually see them right here the characters and these are only 75 dollars and they're they're very nice Very pretty it reminds me of poor Orleans I can actually just see poor Orleans because like that bridge right there. I'm hoping to actually get over then check out that resort soon I'm happy it reopened up a Lot of these things are actually stopped with the Disney Worldwide shared services logos And it gives you a bit of a description like for instance This is the Port Orleans Princess in the frog pictures and it actually says Magnolia Bend and that's the section of it And I love that. So it gives you a little bit of a certificate of authenticity on each of them very cool Make sure you guys stay tuned to the end of the video so I can show you guys what I end up purchasing or leaving with To add to my collection. I always like to do that now just so I can bring you home and show you guys Hey, look, this is what I got This is also something really awesome to point out the shower curtains from some of my favorite resort Rooms look at this. This is from the cars Sweets at art of animation. This is a shower curtain like that is so awesome They also have the Polynesian ones and they have the Lion King section of art of animation I'm gonna hang those up because I want to show you these are so amazing like honestly, I love it Yeah, I really really do love these I Had to pull up the Lion King shower curtain now because I just think they're so awesome. Look it It's a Mona Pumba actually showering. This is so awesome I got to find out how much these are and there's tons of them like they have So many shower curtains from all the different Disney resort rooms. These are all the Polynesian ones right here I love it. Like this is so cool. Look at they have tons of them This animal kingdom lot shower curtain has got to be one of my favorites because of all the hidden mickeys on there You see them all and plus I just like it it stands out Oh, the yacht club actually has hidden mickeys on it as well. I didn't know that that is really really cool The shower currents are $60 a piece and like I said, they have tons and tons of shower currents from all the different resorts I like the ones with characters on them. I think those are the like my favorite But the Polynesian ones have a good design and the same thing with the animal kingdom lodge ones I was trying to figure out what these Window curtains were that were next to the Polynesian shower curtains and look at that a little photo showing me That they are the window curtains from the Polynesian They used to hang outside the balcony doors and these are really really awesome. There's tons of them. That's really cool I like that a lot actually This is really cool. This is a big piece of art that's actually used to be at the animal kingdom lodge These are really heavy and these used to be on the walls Well, look, you can actually see Rafiki holding Simba up right there It's a circle of life. This is $295, but I love this. Actually, I never noticed Rafiki holding Simba up before That's really really cool Walt Disney World salutes the Indianapolis 500 festival and that was from the Richard Petty driving experience That used to be at Magic Kingdom and that is such a piece of history. Of course, it's no longer there And right next to it look at this aerial photo of downtown Disney and this was actually Like something I think that was a part of Walt Disney World like Walt Disney World Company. It does say confidential right here Look at that. It's a this is not a bounding survey and that is that is so unique I've never seen anything like that before. It's $595. It's massive and amazing. Oh, yeah See it's from the Walt Disney World Company survey and mapping department Such a unique find right there I am a sucker for old Disney art or old Disney photos and they have a lot of them here Look at this one of all the different castles This one is $325 Also, I like these because these are like vacation photos Like I would see these like hanging probably in like a Disney Vacation Club Center somewhere Mickey with the ferry boat Pluto swimming These are so cool. I don't know if they have any information on the back of them, but we'll take a look see Just says Mickey waving echo art. They're $125 a piece But this is some old vintage Disney right there and I like it They have a lot of Christmas decorations from the different resorts I also like how they have little pictures showing you where they're from This is from the Polynesian Resort. They had these gigantic reeds there $300 and they're pretty massive Oh, and I always like to point out this in the background there the Liberty Tree Tavern daily nose That was inside the Liberty Tree Tavern. It's like a little uh Post-it board Communication is the key to success Let me know in the comments if you guys see anything that you would consider a must-have like something you have to get I always find things here that I wouldn't find elsewhere Especially like the framed art that stuff is super hard to come by And this place usually always has a good rotation of amazing pictures and uh, I like it These are something that's pretty random, but pretty cool These were in animal kingdom and I would assume that these were for cast members. It says safety Uh cedar schedules. So these are like schedule posters here I really like cast member stuff like this because you get a little bit of a behind-the-scenes look, you know what I mean? Celebrations. So this is probably just like an announcement like Board that they would hang the schedules and celebrations culinary schedules That is really awesome. I'm not too sure how much these are private Dining schedules. I wouldn't mind one of these just for like a novelty A couple more awesome pieces of art They have Mickey and Minnie on a boat at the yacht club resort That is really awesome. And then I love this right here Live legend of the lion king disney magic kingdom. This was an attraction at magic kingdom And I think right now feel her magic is where this was at and this was an actual lion king attraction in the magic kingdom And then got replaced With the mouth Mickey's feel our magic and that is so cool I don't think I've ever seen anything from legend of the lion king before So it's really unique to see this here. I don't see a price on it either So I'm not too sure how much it is but you know, I love extinct attractions This is something really unique and cool. This looks like it might be a cast member award For magic bands from when they actually launched magic bands for the first time So that might be one of the first magic bands my magic plus taking the guest experience to the next level 2013 And that is so awesome I don't think I've ever seen anything like this before and it's kind of funny because We're in the same boat right now with genie plus. So like this is kind of like really relevant at the moment The 2013 is when they were coming up with the my magic and the my disney experience And now look at us here like almost seven years later I think that is so cool. That could be one of the first Original magic bands from 2013. I love it. That is such an awesome thing. I love cast member Like awards or plaques sad that I could never get one because I don't work for the company But uh, you can always buy one. Well, because they end up in places like this and I think that's amazing I'm not too sure where these pillowcases are from but I think it's really awesome because it's got mickey and goofy Then it's got cinderella castle here in florida This is really awesome, and I've never seen it before and it is a pillowcase though I would guess maybe Fort wilderness. I mean, I don't know because I don't know it's very if you guys know, let me know in the Comments. Oh in the back. It does have compasses too. So maybe yacht club Here are a couple more amazing pieces from disney. These look like they are from the Caribbean beach pirate rooms You got the chair and the table and I like the pattern on the chair But this right here kind of caught my fancy. This is a horse collar from uh, Fort wilderness for $95 Like isn't that mind-blowing? I can't even believe it and then down here There's a mickey and mini sink like a brand new sink in the box That's crazy, right? These are some of my favorite pieces in this store These are from the lobby of the yacht club and these are little cabinets and on this side They have just regular names like angela, dancy, chem But this set right here has mickey, mini, donald, daisy, hewie, goofy And I think that's so awesome and since this was in the lobby these weren't in like every other room I think these two are the only Ones and I don't think they open open. I think they were just used for display or prop and that's kind of cool. Very unique Here's a look at them in the yacht club lobby a lot club lobby Here is a look at them in the yacht club lobby and I think that's just so cool I'd like how they have photos to show you where everything was from like that actually makes things feel a little bit better I think if you buy it, you should be able to keep the photo so you could show your friends I have gotten several things from here in the past and I always love coming to see what new things they have They honestly replenish all the time Sometimes some things are always here because they have so much of it Like I said, that's the surplus like behind forever vintage and surplus But they get so many new items and I'm always shocked because I always find something where I'm like, oh, that's amazing These are actually really cool and nifty and I'm not too sure where they're from This one says 1998 for disney's animal kingdom And then this one is the flowers and trees first color cartoon from 1932 And I would say it has something to do with animal kingdom We'll try to pull out the back and see if there's anything written on it Because sometimes that's where you'll find all the information No, nothing Just says ak 1998, but this was somewhere on disney property and I'm not too sure where I also appreciate all the metal shelving that they have in here that have the hidden mickeys on them They have a lot of it like they have this one this one and these all Actually are used to display the items I don't know if they're for sale or not, but these were actually in disney So these were probably disney merchandise shelving and I think they're just really awesome Now I think we're going to take off and go check out some other places If you need any information like I said, I'll put it all in the description And this location is just about 30 maybe 35 minutes from the parks themselves So this is a little bit closer than like say the lakeland antique mall or some other places that I usually visit And it's only open on saturdays like I said, but you could always get stuff online and they'll ship it to But I'll put all the information you can you know follow up with them if you want Now we're gonna hop to one of my other favorite spots And this one is right here on 192 and kassimi the character corner disney collectibles They buy sell and trade and this is about maybe five ten minutes away from the parks And they have some really cool items in here a lot of disney pin trading They're very well known for all the pins. They have they have super rare pins This place has a lot of disney merchandise and toys and things throughout the years And it's really cool because if you are missing something from like 1990 or 1980 even You can probably find some of the items here and I just love seeing all the history and like I said before There are so many pins in here First thing that I noticed that is pretty awesome is this collection of the world's first disney stamps Isn't that cool? These are the first disney stamps ever made and you got all the characters in there donald goofy You got peat you got screwed you got scrooge mcduck in there and uh walt right at the top there And it looks like he's got the jungle book as the background and it's really awesome actually it's really well framed It's only 69 99 and on the back it comes with a certificate of authenticity right there that lets you know All the information about it That is so cool official legal tender postage stamp issued In san marino released on december 22nd 1970 That is really awesome The thing I like about this store is that they buy sell and trade so they get a lot of cast members that are coming in And selling some of their private collection and people that hold on to things for years So you can find a lot of nifty things here Lots of old school disney toys like I love the mickey shelf right here You can kind of just see mickey throughout the years and just evolving Do you know what I mean? Like isn't that so crazy? We'll start off like right here And you can just see how the character or mickey changed He went from this to like something like that And some of this stuff isn't disney itself, but it's old and I love it like even the seven doors right here They just kind of like amazing Take a look at this right here a walk disney orange bird yo-yo This is so amazing professionally modeled with extra thick string extra thick string Have a nice day This is really cool. How to operate your yo-yo. This is this is really awesome I don't know when this was from I mean, I would say maybe the 80s. Maybe I don't know, but I love it 49.99. This is really unique I started walking over here and I noticed some topi areas Laying on the ground here and take a look at that It's goofy and looks like they're in rough condition, but they're still pretty amazing. Oh, and we got mickey right here as well He's under the table with bluto Look at that Wow That is so crazy I have never seen these out and about I don't want to touch them because they look like they're fragile But maybe they can restore these. I think that is really awesome. Also What is this? Is this a goofy statue?  Oh, wow. What is this seven doors mind train right here? All lined up on a wood plank I said seven doors mind train. That's funny But that is really awesome Like I said, I will put all the information in the description if you guys want to check any of this out And you can buy anything that you wanted to Uh, some of the stuff isn't marked like price buys like the topi areas and stuff like that So you can always just call up and I'll show you the card before we leave too Now I want to show you some of the cool pink collections that they got going on It actually looks like they're in the midst of expanding their pink collection They're going to be filling up these boards here And they have a lot and they have a lot of the very limited edition ones that are like all framed up And I always like coming and just looking so if you're a pink collector This is probably one of the best places to come I also like how easy it is to find what you're looking for because most of them are actually labeled Like Cinderella, Figment, Hidden Mickey's, Donald, uh, Bambi And is that, say, Grateful Dead? I believe it does. Wow Grateful Dead, Lion King, Aristocats, Honnet Mansion See, all these are actually really awesome See, I get excited over things that I just like. You know, I love the goof And here's a pen from Storybook Circus Fly with the great Goofini And I love it. This is really awesome They keep all the good ones behind the glass in here. They could probably take a look see and open it up a little bit Ooh, I like this 100 years of magic right here for the, uh, Sorsoors had at MGM Studios This is actually really awesome. And of course anything with Epcot Look at that These are so nifty. Oh, there's another one Epcot Center the Florida project That is very nifty I know there's a lot of people out there like snow globes and these are actually really cool ones They have the 25 year anniversary for Walt Disney World and we just actually passed the 50th now Then this one was from 2000 We've got some tinkerbell and snow white. Sorry, sometimes it gets a little blurry And then take a look at these guys down here You can definitely see a little wear and tear on them, but these are like lawn gnomes and you got Donald, Goofy, Pluto, Mickey and Minnie That is really nifty. I like the way Donald's looking like I always wonder Do you think these are best the way that they are? Or do you think they're better when they get restored and cleaned up? I kind of like seeing, you know, I mean age to certain things, especially older items Let me know in the comments what you guys think Also, I always like to point out the magic bands in here because this is usually my go-to spot to find Some of the older magic bands that sell out very quickly. Like they got the captain marvel They've got the run disney ones a couple more back here. Oh star wars cast member one This is for the opening team of galaxy's edge. That one is super awesome And a couple more in the back here. I see as well. Oh the rise of skywalker And Aladdin, so it's nice to actually find those when you can Also a couple more statues showing a little age to them. I like snow white right here I know there's a lot of big fig collectors out there And I don't know if this is a big fig, but I think it's really awesome because It's the main street transportation company and look at we got goofy mickey pluto donald mini all in the back That is so unique and it's big. It's heavy How about this disney's animal kingdom project team? I like this jacket itself 1990 to 1998 creating the kingdom Wow, that is so awesome. I don't know if anything's on the back. I'll have to take a look see but This is really awesome. It even has detail for the trio life on the zipper They have a nice collection of mickey ears And these are from like all the different years actually They've got happy valentine's day down there at the bottom from 2006 happy easter 2006 And a couple of them are like really awesome condition. The one that caught my attention though is right here Take a look at this. I like it just because of the box alone But tim burton's nightmare before christmas. It comes in this fancy little box And take a look at those ears That is beautiful. They light up. I would assume and I love it I love the inside of the box too. It's purple That's so fancy. They're selling for 49.99 And they sold brand new for 69.95. I like it just because of the box though Here is most of the information and like I said, I'll put more in the description below so you can check it out But yeah, always give them a look and if you want to sell anything or buy anything You can always bring it here and they'll give you an offer It's also the christmas time and take a look at all the lights Well, it's halloween first, but christmas is right around the corner and I love christmas season. Oh, look at mickey right here That is really nifty happy holidays Oh, it gets me so excited. I'm excited to actually do the christmas after hours event at disney I hope it's a lot better than the boobash That was really neat It's really fun showing off amazing things that I think I like I hope a lot of people actually like it too Honestly, I point off things in a store like obviously I can't show everything in a store But I point out the things that I personally like and that I think maybe you guys would like too And now it's time to go home and I'm gonna show you what I ended up picking up today Oh gracey. Who do you are? What are you doing? Huh? What are you doing? Huh? And here is a couple of the newest additions I ended up getting the my magic cast member plaque Well, I don't know if this is a plaque or an award. They gave it out to the launch team who actually Started working with the magic bands and the my magic plus Taking the guest experience to the next level and then also I got myself the orange bird yo-yo Because I thought this was so retro and so cool. I love even the way walk disney is running on there And I didn't notice before but they give you a bunch of disney tricks like the mickey around the corner The donald duck over the falls the goofy sleeper and walking pluto, and I just love it I mean, it's so cool and so nifty So I had to get that and also I picked this up the other day And I wanted to show you guys this is my newest magic band for the contemporary resort And I just like the box too. You know what I mean? It's really nice. Look Mickey on there limited edition only 1,500 of these so I'm happy. I got it when I did But with that, I hope you enjoyed the video. I enjoyed making it. It was fun Actually going out and hanging out of forever vintage That is one of my favorite places to go to the people that run it are such amazing people and I love talking to them And we share stories and it's always a good time and also stopping down to the character corner Which honestly, it's like kind of the one that's closest to my house So I do go there a lot and I always like to just pop in and just see what new things they got because like I said People trade in stuff and they sell stuff. So they constantly have new material And I always just like go browsing. I actually do it sometimes without even my camera I do that like once a week actually. So like I said, I hope you enjoyed the video. I enjoyed making it We'll see you next time. Bye


We're here at ITU Telecom World 2014 in Doha in the state of Qatar and I'm very pleased to be joined by Gabrielle Gauti who is Executive Vice President for Global Government and Public Affairs throughout the Tel Aviv and Gabrielle, very nice to see you again. Nice to meet you. Now, I wanted to start off by talking about here the central theme at ITU Telecom World 2014 is future in focus. What developments in technology, policy or business do you see as key to the near future? I see three main technological evolutions. The first one is the rapid growth of mobile data and of mobile devices, an explosion to the tremendous disruption and revolution to a level that we had not anticipated before. The smartphone is the innovation in the history of mankind that had the biggest, the most rapid penetration. In 18 months it reached the same penetration as the color chief in 15 years and then come on top of this all these mobile devices, internet of things, connected things, everything, connected everything and by 2020 70 billion objects will be connected. So the first thing is this, the second is video, the continuous explosion of video and the third is cloud. So all the data in the cloud, the cloud and the device and in between the networks need to be updated. So I see these are the three biggest evolutions that we see. Now you've just presented a keynote on making a broadband universal. Is this a realistic vision and how could it best be achieved, do you think? It could be a myth, it could look like a myth for a number of countries that still have very poor broadband penetration and a lot of them are here today. The emerging, fast-growing economies like Africa, Middle East and some countries in Southeast Asia. But I think there are ways, so we spent quite a bit of time of seeing what innovative thinking bringing universal broadband to these countries can mean because they have to have the target and the ambition of bringing universal broadband to the population which is starving for broadband. And it's a young, more internet-aware population than our old European developed, so-called developed economies. So they want broadband, badly. So we have looked at the different models and what it implied as a disruption both for the way of thinking of policymakers and for the actors because there are models, new investment models, new ways of lowering down the cost because you have to lower the cost of the infrastructure and new ways to monetize the networks for the so-called service providers in partnerships with new actors. So the buzzwords were sharing public-private partnerships, attract long-term infrastructure funds in the first layer, passive layer of the network to unleash the intelligence of the cloud because the networks, the other big disruption is the virtualization. The cloud means virtualization of the telecom networks, unleash the intelligence in the upper layers. So this means another way of thinking for service providers, another way of partnering in building the platforms in partnerships with the ones that are going to invent the new usage of the internet of things of the future. I wanted to ask you very much in terms of partnerships, what's the role of partnerships in this new disruptive age? First of all, the partnerships is the partnerships between the actors to co-invest, lower the cost. So first thing, then the role of partnerships is partnerships of our sector with other sectors. A lot of us preach to the choir by preaching to the telecom sector. We need to reach out to the education sector, to the health sector. I was sitting on the Empowering Board that Mr. Rahim Hassan was set. So partnerships of our sector with the other sectors in the public sphere, partnerships, private partnerships of the telecom service providers with new agile commerce, not necessarily the big gaffer bands, but small disruptive new players of the internet of things. For instance, in smart cities, a service provider needs to partner with people that are going to capture and be active in energy, transport, water, watering of parks and the like. So these are other kinds of partnerships, partnering outside our sector. And in terms of the events that we're at at the moment, ITU, Telecom World 2014, what's the main value for Alcatel Lucent of attending events such as this? First value is to fill the atmosphere. As being responsible for the government segment, of course, a lot of policymakers are here and gather, see how they evolve, what the questions are, what they want from us, have a feedback. And then also, I very much liked this session on the future with the futurists, which bring us in contact with futurists outside of our sector, not the telecom sector futurists. We do have a lot of them, even in our own company, but people that think what are going to be the uses of tomorrow and give us ideas on what type of partnerships also to build, because I really clearly believe that our sector, the future of our sector is cross-border partnerships. Now, there's a lot of people, a lot of important people here at the moment. What is your main message to participants in Delegas and ITU Telecom World? Think out of the box, don't think backwards, think to the future, and don't embrace new investment models, new partnerships, and don't be afraid. It's true that there are going to be disruption in our sector, but we should embrace the future because we have really the advantage and the great honour to work in a super sector, which is the ICT sector. Finally, I'd like to ask you, what key innovation do you think will make the most difference in the next five to ten years? I think it's definitely what we call the internet of things and all the promises it carries without us being able, we need to be modest, without us being able to imagine what it will embrace. But also, and I like very much the session yesterday on the futurist, with bearing in mind that we need to bear the human conditions and the human factors in this internet of things. So the ethical part of it must not be forgotten. Definitely not. Thank you very much for keeping this in the studio today. Thank you very much for having me.