In 'Bad Samaritans', Ha-Joon Chang challenges the conventional wisdom of free trade, arguing that it is not a universally beneficial policy. He contends that developed countries have historically used protectionism to advance their economies and now impose free trade on developing nations, hindering their growth. The book offers a historical perspective on how countries like the U.S. and Britain became rich through protectionist policies, and how these same policies are now denied to poorer nations.
The Commanding Heights explores the battle between government and the marketplace, tracing the rise of free markets and globalization in the 20th century. The book examines key figures and events that shaped economic policies worldwide, from post-WWII Europe to modern-day globalization challenges.
In 'Kicking Away the Ladder', Ha-Joon Chang challenges conventional wisdom by highlighting that developed countries used protectionist and interventionist policies during their development, which they now deny to developing nations. The book argues that these policies were crucial for economic growth and that developed countries are 'kicking away the ladder' by advising developing countries to adopt different policies. Chang's work provides a historical perspective on development strategies and critiques modern economic orthodoxy.
In this week’s episode, I am joined by Dr. Cahal Moran, the man behind the YouTube channel “Unlearning Economics,” and author of the recent book “Why We're Getting Poorer: A Realist’s Guide to the Economy and How We Can Fix It.”
In this podcast, I ask Cahal how he went from being an economist to debunking “Basic Economics” on YouTube. We also talk about modern China, the future of capitalism, what the left and right get wrong when it comes to Economics, “Marxism without the rubbish bits,” and possible solutions to our chronic crisis.
In The Backroom exclusive podcast on Patreon, Cahal and I discuss Modern Monetary Theory (MMT), UBI vs the Job Guarantee, the prospects of Economic Planning, Worker-Co-ops, and the question of “socialist” alternatives to capitalism. Become a Patron at Patreon.com/OneDime if you haven’t already!
Timestamps:
00:00 Why Succession is Anti-Capitalist (The Backroom Preview)
03:15 Cahal Moran: The Mind Behind Unlearning Economics
05:35 Breaking from Mainstream Economics
08:20 What “LeftTube” Lacks
12:43 The Myths of “Basic Economics”
17:22 The Impact of YouTube on Economic Discourse
25:34 Has Capitalism Made Us Richer or Poorer?
33:40 China's Economic Model and Global Comparisons
44:40 Germany's Economic Model vs the UK: Challenges
47:36 The EU and Brexit
52:17 Modern Monetary Theory (MMT)
01:03:27 Land Value Tax: A Viable Policy
01:20:20 Addressing Inflation
01:27:49 How Does Cahal Identify Politically?
01:39:08 Transition to The Backroom
Check Out Cahl’s Book: https://www.amazon.com/Why-Were-Getting-Poorer-bestelling-ebook/dp/B0DD26S8VR
Check out Unlearning Economics on YouTube: https://www.youtube.com/@unlearningeconomics9021/featured
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Outro Music by Karl Casey
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