Hidden Forces What Happened to the American Economy & How to Fix It | Julius Krein
Nov 22, 2021
Julius Krein, editor of American Affairs, dives into the troubling state of the American economy, discussing the rise of oligarchy and the phenomenon of 'proletarianization.' He contrasts the ideals of free-market capitalism with today's corrupt governance, likening it to a feudal system. Krein also explores how geopolitical events shape economic beliefs and critiques the shift from value creation to extraction in corporate America. Their conversation touches on generational conflicts and the cultural ramifications of these economic transformations.
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Krein's Background
- Julius Krein's career began in finance, including a stint at Blackstone and work in emerging markets.
- His experience in Afghanistan as a Defense Department subcontractor shaped his economic and political views.
Practicality over Theory
- Krein emphasizes practical experience over pure political theory. He believes real-world observation is crucial for understanding political and economic systems.
Shifting Perspectives
- Krein's experience in Afghanistan exposed a disconnect between stated US goals and reality. This, along with observing corporate behavior on Wall Street and the Greek debt crisis, shifted his perspective.
