Phil Mullan - Phil Mullan is an economist and business adviser. Author of The Imaginary Time Bomb: Why an Ageing Population is not a Social Problem, he researches, writes and lectures on economic, demographic and business issues.
Formerly chief executive of the internet services company Cybercafe Ltd, which opened the world's first internet cafe, Cyberia, he currently works with a range of businesses. This includes a non-executive directorship with Easynet Group PLC, one of Europe's leading business broadband networking companies.
Michael Savage - Dr Michael Savage is an investment banker with interests in financial economics and development. Prior to working in the City, Michael taught international political economy and studied international relations.
Stuart Simpson - Stuart Simpson is the convenor of the Institute of Ideas Emerging Economies Forum - researching the economic, political and cultural impact of the dynamic growth of much of the developing world. He has published various articles on these themes in print and online publications, including the Independent, Die Welt, spiked and Novo Magazine.
Stuart has conducted research on behalf of the education charity WORLDwrite, on issues such as the impact of corruption and governance and the affect of debt relief on development.
Stuart is a qualified accountant and has worked in the financial services sector for many years. He is now employed by a leading European investment bank monitoring treasury and commodities trading activity.
Stuart is currently engaged in the study of financial mathematics at a postgraduate level.
While the consequences of the credit crunch appear all too apparent, the intricacies of the complex financial instruments involved, combined with the vast sweep of the global financial system, seem to defy explanation. Attempts to accuse negligent regulators, fraudulent brokers and greedy borrowers cast much blame but little light on the causes of the crisis.
Are the current problems a sign that the developed world has been living off credit for too long? The United States is still by far the world’s largest and wealthiest economy, so why for so long has it been reliant on credit supplied by the smaller and poorer economy of China? In the past 30 years, the UK economy has shifted away from manufacturing towards financial services. In many ways London is the pre-eminent world financial centre, but is this a source of weakness rather than strength, leaving the UK more exposed to financial crises?- Institute of Ideas
I'm not certain that this man has a complete grasp of postindustrialism. He's covered the financial sector, but he's totally omitted the designers, engineers, teachers, and artists that make the ideas that keep post industry viable.
Additionally he seems not to understand that consumption is required to uphold employment rates. Without American consumption all of the 'nonessential' manufacturing jobs would fall through leaving the Chinese workforce (a third of the world's population)jobless and with no marketable skills.
I wish Savage was joking. Clearly such a single-minded speech could not deserve him the place he is in. He has no idea how the world economy works together, only assuming dumping trash over the other side of the wall is the way out. If you want to stop the crisis, stop producing the trash! "They don't have all the luxury things we have in the West..." Savage, you must be living in your own cube world, don't you? Haven't you heard people laughing around you? Get a room.
If you look down on large, Chinese cities from Google Earth, you see rows and rows of "apartment buildings," (similar to the South Side of Chicago). This "Government Housing" cannot hold much "stuff." Perhaps, we will be saved by a future Chinese Suburbia. Is that what your vast intelligence has to offer, Michael Savage?