It is

tough.

I mean, so to me, my smoke stuff, right? My brisket is to me a labor of love, right? Because it's a big piece of meat.

I pay top dollar for it and then it shrinks because I chisel it down and trim it.

And then I smoke it and shrink it.

So like a 20-pound brisket ends up being 10 or 11 pounds of meat that I can sell to you.

Anyway, it's fine, right? I love doing it.

That's

Um, and you, you touched on this a little bit before, but isn't there going to have to be some sort of reform of the, the basic institutions that manage economic policy or that carry out economic policy like the Treasury, the machinery of government? Isn't he going to have to kind of challenge those institutions rather than simply implement a new policy?

I think he definitely is going to have to.

I think actually amongst our political class in general, uh, across, you know, all parties, there's a kind of growing realization that the British state is simply dysfunctional.

Uh, the kind of reforms to the state that the Blair government brought in have, I think, proven to be pretty disastrous, and they've...

That combined with the austerity, um, imposed by the coalition government, has left the British state in the most bizarre situation of being very large and bloated.

It spends just short of 50% of, uh, national income, but at the same time, being completely in- incapable of actually doing anything, which is ex- an extraordinary combination when you think about it.

The worst of all possible world, basically.

How do you expect Burnham to approach relationships with the United States, um, also NATO and the, the kind of broader international scene?

Hi Spencer, Steve Davis here, manager of Abergavenny Town.

Thanks for getting in touch yesterday on how the game went.

We had a solid start to the season so far, buddy.

Even though it's really early on in the season, winning is always a good habit to get into and the players know this, I know this.

But yesterday was the fourth win on the bounce and the second clean sheet in a row.

So it's all progressing in the right direction.

this just a function of what happens to institutions over time? Is there rot and decay and you have to replenish them? Or is this part of the great realignment? Issue that we've got with the technocracy that I think

yes to both really I mean that that Jerry Pornel formulated that law a long time ago In science fiction novel actually, but yes, it's that is an undoubted reality.

You can see it's over and over again in history and

The late Bill Niskanen, an American economist at the Cato Institute, also famously formulated.

And it's beautifully spelled out by Sir Humphrey to Bernard

in one of the episodes of Yes Minister, where he tries to explain to Bernard how a civil servant knows he's doing a really good job.

He's got a bigger budget and a bigger department, you know.

So this is the sort of the Xerox parks thing where Xerox had, discovered the graphical display unit and it took an early apple steve jobs and steve rosney had to come in and look around and go you're not doing anything with this why don't we scale it up do we need a bit more vision and self-belief to to a innovate and then act upon that innovation um rather than constantly if you constantly try and diversify and outsource then you will just be a procedural following mechanism rather than a doing outcome-based

How, h- h- how's your pre-sea... how's your pre-season a- a- a- and your summer gone? Yeah, h- ha- happy with, happy with, happy with your w- w- with your transfer bus- transfer business? Any more, uh, any more kind of you wanna do?

Yeah, so, um, uh, the, the players that we've brought in have, uh, have been quality.

Um, we've kind of wanted to gel them a- as a, as a squad, a- as a team, which I think we're getting there.

Um, there's always, uh, r- room for improvement, uh, to bring more players in, but that's where every club, uh, sort of strives to, uh, to achieve.

But no, we've got a great, great group.

Um, the togetherness is second to none, and it just shows from that performance that, uh, um, that they all play for each other, and they, and they're willing to put a shift in to, to, to come away with a win, which we did tonight.

A- a- are you, I'm gue- I'm guessing, I'm guessing you're, guessing you're kind of hoping and, and pushing to maybe, maybe do a little bit better than that this year?

Yeah, absolutely.

To learn more, visit christianfinance.org.au.

And curiosity got the better of me one day, and I walked up to her.

Her name was Helen.

I said, Helen, what do you read that book for? And she said, Steve, God speaks to me from it.

And I said, what? Like, that was a strange concept to me.

God speaks to you from a book.

Yeah.

Yeah.

If you're looking at a concert, the ad that you see has an offer price and that there is a sense that, well, you have to stick to that if that's what you said at first engagement.

well that that is because the typically the volume of sales in any given time is much much higher with concert tickets because what you have obviously is lots and lots of people who've seen that the tickets have been released rushing to try and get them as soon as possible because they know full well that there are way more people who will want a ticket than there actually are tickets available in many cases that's that's the fundamental reality whereas with an airline it may not be quite clear now a hotel on the other hand you often do get this kind of thing happening with hotels let's say you've just discovered that your team has got into something like an all-island final or into uh you know the fa cup final at wembley and you suddenly decide i'm going to go uh you're not only going for a ticket you're going to book a hotel nearby and you'll find that actually prices will adjust in real time for the hotel rooms now uh that's a that's An example of what is going on there is because the number of people who want to get a ticket in a very short time is very high as compared to, say, an airline flight.

And hence, the prices will adjust in real time.

That's just the way the dynamic pricing works.

The theory with this, if it comes in, is the unintended consequence will be that you will still have price fluctuation and dynamic pricing, except it'll happen the way that it used to in the black market with people selling on tickets.

Yes, precisely.

What will happen is this.

Let us say that this regulation comes into play and I manage to get one of a batch of tickets at a low price.

Can you talk through, can you talk through how these identities actually develop, that people are willing to sort themselves into, into these tribes?

Yes.

It, it, it-- So the argument is that the, the, the ultimate cause of all this is economic ch-- uh, technological changes of one kind or another.

But the thing is that the effects those economic changes have had are perceived and understood through the prism of identity.

Now, the main change, in my view, is the way in which the world economy develops after the collapse of Bretton Woods and the move to floating currencies, floating exchange rates, flexible exchange rates rather, and the abolition of exchange controls in the nineteen seventies and nineteen eighties.

And what that has done, in my view, is to create a kind of-- It's not just a globalized economy, it's an economy which is no longer organized around recognizable national economies with national companies and national labor market and things of that sort.

Instead, the world economy, it makes more sense to think of it as being made up of about two thousand globally connected city regions, which are connected together by all kinds of trade flows, flows of people, flows of capital, uh, in a kind of hierarchical network.

So why are you so certain that this realignment around this framework is here to stay?