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The Failure of Global Finance is Systemic
Mar 3, 2025
Jane D’Arista, a research associate at the Political Economy Research Institute, dives into the pitfalls of global finance. She discusses the risks of US dollar liabilities and the harmful effects of export-led growth models. D’Arista advocates for a reformed Federal Reserve, emphasizing systemic issues affecting small businesses. She critiques current capital requirements and highlights how a debt-driven economy damages both developed and emerging markets. Her passionate push for innovative policy solutions offers a fresh perspective on achieving financial stability.
01:07:43
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Quick takeaways
- The podcast emphasizes the need for systemic reforms in global finance to mitigate the dangers of rising debt and pro-cyclicality.
- It highlights the essential intersection of social justice and economic policy as critical for addressing vulnerabilities that impact marginalized communities.
Deep dives
The Evolution of Financial Systems
The transition from a national bank-based system to a global market-based system has reshaped the U.S. and international financial landscape. This evolution is marked by a shift towards free market ideology which has resulted in two major problematic paradigms: pro-cyclicality and an export-led growth model. These paradigms contribute to rising levels of debt, mirroring patterns observed prior to past financial crises. The implications of these changes highlight vulnerabilities in the current system as the regulatory frameworks have been neglected, intensifying the potential for future crises.
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