Paul Mackay

The interview took off by talking about how people perceive economics and how it has changed . Mackay said that today's idea is to manage limited resources in a sensible and sustainable way so that it can fulfill humans needs. Then, they continue the talk to investments and finance. He said that a lot of values are not real value. It is virtual value because it does not require add-on values from other resources. For example, a farmland would be valuable if the farmer grow on it, but in a development project only the land is valuable without any add-on value. He also explains that money sometimes becomes stuck and there is no real creation of value anymore such as in the stock market. He believes in the idea to make the money become gift money, these are money that are invested for research in education, health, and social issues. This interview talks about what investments are and the idea of economics that are vital to the world.