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Dr. Michael Hudson is an American economist, Professor of Economics at the University of Missouri–Kansas City and a researcher at the Levy Economics Institute at Bard College, former Wall Street analyst, political consultant, commentator and journalist. Dr. Steve Keen is an Australian economist and author. A post-Keynesian, he criticizes neoclassical economics as inconsistent, unscientific and empirically unsupported. Our conversation examines the false dichotomy of capitalism v. socialism and considers the true dichotomy, which is industrial capitalism v. finance capitalism. Hudson and Keen argue that the transition to finance capitalism, where unearned income is considered economic growth, has truly sown the seeds to ruin the world.
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(00:00:00)
Go!
(00:00:19)
What we're really talking about is finance capitalism
(00:03:25)
What is Capitalism?
(00:17:55)
Was the end of the Happy Days inevitable?
(00:28:50)
A more nuanced dichotomy than capitalism vs socialism
(00:36:02)
Why does GDP still manage to slow down?
(00:46:32)
Why is debt so stifling?
(00:55:29)
What happens to the money that accumulates at the top
(01:01:39)
The shape of global financial pressure
(01:11:02)
Modern examples of debt jubilees
(01:19:12)
Solutions without collapse?
(01:23:13)
Persistent economic myths
(01:45:38)
Strange realities of cancelling student debt
(02:03:40)
Financializing the basic structures of society
(02:15:07)
How to structure the next iteration
(02:27:48)
Doomer optimism
(02:33:47)
A new, more effective state
(02:39:25)
Closing thoughts
#FinanceCapitalism, #EconomicInequality, #WealthGap, #CorporateGreed, #FinancialSystem, #CapitalismCritique, #IncomeInequality, #GlobalFinance, #FinancialCrises, #EconomicInjustice, #WealthDistribution, #CapitalismFlaws, #FinancialDeregulation, #EconomicCollapse, #SocialJustice, #CorporatePower, #FinancialManipulation, #MarketFailures, #FinancialInsecurity, #SystemicInequality
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PODCAST INFO: Anastasia completed her PhD studying bioelectricity at Columbia University. When not talking to brilliant people or making movies, she spends her time painting, reading, and guiding backcountry excursions. Shilo also did his PhD at Columbia studying the elastic properties of molecular water. When he's not in the film studio, he's exploring sound in music. They are both freelance professors at various universities.
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