# #178 - Malcolm Offord - We Forgot How to Create Wealth

Page: https://stenobird.com/podcast/the-peter-mccormack-show-525419/178-malcolm-offord-we-forgot-how-to-create-wealth
Text version: https://stenobird.com/podcast/the-peter-mccormack-show-525419/178-malcolm-offord-we-forgot-how-to-create-wealth.md
Podcast: [The Peter McCormack Show](https://stenobird.com/podcast/the-peter-mccormack-show-525419)
Published: 2026-05-25T16:59:22+00:00
Episode link: https://shows.acast.com/the-peter-mccormack-show/episodes/178-malcolm-offord-why-britain-stopped-creating-wealth
Audio file: https://sphinx.acast.com/p/open/s/69d4f193b76468caacc5068f/e/6a147db083dd9b6e1148d88d/media.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/the-peter-mccormack-show-525419/episodes/178-malcolm-offord-we-forgot-how-to-create-wealth
Duration seconds: 3994

## Resource

Lord Malcolm Offord joins me to discuss why Britain and Scotland have stopped creating wealth. They discuss state spending, political fragmentation, Scotland’s elections, Adam Smith, The Wealth of Nations, QE, the Bank of England, first jobs, minimum wage, small businesses, quangos, the managerial class, Reform, the Greens, America, and whether Britain needs a welfare economy or a wealth economy. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - TIMESTAMPS: 00:00:00 - Britain Forgot How to Create Wealth 00:01:01 - Two Revolutions at Once 00:01:36 - Is Democracy Fragmenting? 00:05:36 - Is the State Too Dysfunctional to Deliver? 00:07:30 - Spending More and Getting Less 00:08:42 - Scotland’s Political Warning 00:10:06 - “I Won’t Vote for Decline” 00:11:22 - Britain Has Stopped Creating Wealth 00:13:21 - How to Think vs What to Think 00:16:50 - Why First Jobs Matter 00:23:12 - Business Prevention Officers 00:27:14 - Trickle-Up Economics 00:30:34 - QE Protected the Rich 00:37:31 - The Managerial Class 00:40:48 - Parliament vs the Public 00:44:42 - Why Voters Are Fed Up 00:50:28 - Can Reform Fix the System? 00:55:05 - Welfare Economy vs Wealth Economy 00:58:37 - Can the State Get Any Bigger? 01:04:34 - Britain Is Being Left Behind - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - CONTACT PETE › Website – http://petermccormack.com › Feedback – https://www.petermccormack.com/contact › Email – me@petermccormack.com › Instagram – /mccormack555 › X/Twitter – https://x.com/petermccormack/ CONNECT WITH MALCOLM OFFORD › Twitter – https://x.com/Malcolm_Offord SPONSORS › IREN - https://www.iren.com › LEDN - https://www.ledn.io/peter - - - - - - - - - - - - - - - - - - - - - - - - - - -…

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## Transcript

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