Given how much richer we are today than, say, 50 years ago, it is remarkable how many people think ‘the system’ is not working for them. Particularly in high income countries, there is a pervasive sense that neither the market nor the state are providing citizens with the security and welfare that they could and should.

In this episode of Reading our Times, Nick Spencer talks to Minouche Shafik, former Deputy Governor of the Bank of England and current Director of the London School of Economics, about her book What We Owe Each Other and the need to build “a new social contract” for the 21st century.