The MMT Podcast with Patricia Pino & Christian Reilly

#195 Capitalists Hate Capitalism with Cory Doctorow

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Mar 22, 2025

Cory Doctorow, a renowned author and activist, dives deep into the complexities of capitalism and its cultural implications. He challenges the traditional views of job creation and monetary policy, particularly regarding marginalized communities. The conversation takes a whimsical turn as they discuss marshmallows and self-control, questioning the oversimplified narratives of success. Doctorow also critiques the dominance of giant corporations, comparing modern capitalism to feudalism and urging a reconsideration of market dynamics. This engaging dialogue unveils the systemic factors affecting economic outcomes.

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ANECDOTE

Marshmallow Experiment Reconsidered

The Stanford Marshmallow Experiment suggested that kids who delayed gratification had better life outcomes.
However, this was later debunked; kids from stable homes simply trusted the promise of a second marshmallow.

INSIGHT

Selective Patience of the Wealthy

While Charles Koch's long-term investments made him wealthy, his funding of climate denial is a poor long-term strategy.
This reveals a selective patience among the wealthy, prioritizing short-term gains over long-term consequences.

INSIGHT

Systemic Issues vs. Individual Failures

Systemic issues, like obesity, are often blamed on individual failures.
However, entire industries, like the food industry, often rely on these "unhealthy" behaviors for profit.

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The Secret Diary of Adrian Mole, Aged 13 3/4

Sue Townsend

The Secret Diary of Adrian Mole, Aged 13 3/4, is a comedic novel that follows the diary entries of Adrian Mole as he navigates the challenges of adolescence, including family conflicts, unrequited love, and academic struggles. The book offers a relatable and entertaining perspective on the universal experiences of growing up. Through Adrian's candid diary entries, readers are treated to a mix of adolescent angst and humor, set against the backdrop of social and political change in 1980s Britain.

The Dawn of Everything

A New History of Humanity

David Wengrow

David Graeber

This book offers a dramatically new understanding of human history, challenging fundamental assumptions about social evolution, the development of agriculture, cities, the state, democracy, and inequality. Graeber and Wengrow argue that traditional theories of human history, such as those posited by Hobbes and Rousseau, are not supported by anthropological or archaeological evidence. Instead, they show that humans have lived in large, complex, but decentralized societies for millennia, often without ruling elites or hierarchical systems. The authors draw on extensive research in archaeology and anthropology to reveal a history that is more varied and hopeful than previously assumed, emphasizing human experimentation with different social arrangements and the potential for new forms of freedom and societal organization.

The Wealth of Nations

Adam Smith

Published in 1776, 'The Wealth of Nations' is Adam Smith's magnum opus that laid the groundwork for modern economics. The book critiques mercantilist economic theories and introduces the concept of the 'invisible hand,' which describes how individual self-interest leads to societal benefit. It emphasizes the division of labor, the accumulation of capital, and the importance of free markets. Smith argues that a nation's wealth is not measured by its gold and silver reserves but by the stream of goods and services it produces. The book also outlines the core functions of government, such as maintaining defense, enforcing civil law, and promoting education, while advocating for limited government intervention in market activities.

A Clockwork Orange

Anthony Burgess

In 'A Clockwork Orange', Anthony Burgess depicts a dystopian future where teenage gangs roam the streets, committing acts of violence and mayhem. The protagonist, Alex, narrates his experiences as the leader of such a gang and his subsequent capture and submission to the Ludovico Technique, a controversial behavioral conditioning treatment aimed at eradicating his violent tendencies. The novel delves into profound questions about the nature of good and evil, the limits of individual freedom, and the role of government in shaping human behavior. Through Alex's journey, Burgess examines the complexities of human nature and the delicate balance between freedom and constraint[1][3][5].

Red Tea Blues

Cory Doctorow

A paradise built in hell

the extraordinary communities and strange joys that arise in disasters

Emily Beresford

Rebecca Solnit

David Muñoz Mateos

In 'A Paradise Built in Hell', Rebecca Solnit examines how people respond to disasters and crises, often forming strong, resilient communities. The book delves into the human capacity for cooperation, altruism, and mutual aid during times of catastrophe, challenging the common narrative that disasters bring out the worst in people. Solnit draws on historical examples such as the 1906 San Francisco earthquake, the 1985 Mexico City earthquake, and Hurricane Katrina to illustrate these phenomena.

Debt

The First 5,000 Years

David Graeber

In this book, David Graeber argues that debt has a much longer history than money and that it has played a central role in shaping human societies. He debunks the myth of barter as the precursor to money, instead proposing that credit systems and debt were the primary means of trade. Graeber examines how debt has been used as a tool for social control, influenced law, religion, and politics, and has led to periodic crises and debtor revolts throughout history. The book also discusses the moral and social implications of debt, suggesting that the concept of debt is more complex than a simple economic transaction[1][2][4].

Capital in the Twenty-First Century

Thomas Piketty

In this book, Thomas Piketty examines the historical dynamics of wealth and income inequality from the 18th century to the present. He argues that when the rate of return on capital exceeds the rate of economic growth, it leads to a concentration of wealth and significant social and economic instability. Piketty's analysis is based on extensive historical and comparative data from over twenty countries, challenging the notion that free market capitalism naturally reduces inequality. He proposes a global system of progressive wealth taxes to mitigate these inequalities and protect democratic values. The book is a groundbreaking work that reorients our understanding of economic history and the inherent contradictions of capitalism[1][4][5].

100 Years of Solitude

Gabriel García Márquez

The novel tells the story of the Buendía family and the town of Macondo, which they founded. It spans over a hundred years, from the postcolonial 1820s to the 1920s, and explores themes of solitude, family destiny, and the cyclical nature of time. The story is marked by magical realism, blending mundane and extraordinary events, and reflects on the impact of modernization, civil wars, and social changes on the town and its inhabitants. The novel is an epic tale that intertwines historical and fictional elements, highlighting the repetitive patterns and destinies of the Buendía family[1][5][5].

Animal Farm

George Orwell

Published in 1945, 'Animal Farm' is a novella that allegorically represents the Russian Revolution and the subsequent rise of Stalinism. The story begins with Old Major, a boar, inspiring the animals of Manor Farm to rebel against their human oppressor, Mr. Jones. After the rebellion, the animals rename the farm 'Animal Farm' and establish a utopian society based on the principles of equality and solidarity, known as Animalism. However, as time passes, the pigs, led by Napoleon and Snowball, consolidate power and gradually corrupt the original ideals, leading to a dystopian regime that mirrors the oppressive human rule they initially rebelled against. The novel critiques totalitarianism and the corrupting nature of power, reflecting Orwell's experiences and views on the Soviet Union under Stalin's rule.

Techno-Feudalism

Yanis Varoufakis

Fahrenheit 451

Ray Bradbury

In this classic dystopian novel, Ray Bradbury depicts a future American society where books are outlawed and 'firemen' are tasked with burning any discovered. The protagonist, Guy Montag, is a fireman who starts to question his role after encountering Clarisse, a young girl who loves nature and reading. As Montag delves deeper into the world of books, he begins to see the emptiness of his life and the dangers of a society that values entertainment over critical thinking and intellectual freedom. With the help of Faber, a retired English professor, Montag rebels against the system, leading to a confrontation with his fire chief, Captain Beatty, and ultimately joining a group of intellectuals who have memorized books to preserve knowledge for a post-apocalyptic future.

Picks and Shovels

Cory Doctorow