Money on the Left cover image

Money on the Left

Monetary Foundations of Education w/ Larry Johnson

Nov 1, 2023
Larry Johnson, associate professor of Social Foundations of Education, explores the constraints of the US public education system due to wrong economic thinking. He discusses the role of federal interest rates, standardized tests, and classist/racist myths in shaping education policy. Johnson advocates for radically rethinking education through the lens of endogenous public money theory. The podcast also covers the historical development of education, misleading political conceptions, the connection between social foundations of education and modern monetary theory, and the role of education in perpetuating social and environmental injustices.
01:28:12

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • The U.S. system of public education is constrained by outdated economic thinking and political agendas aiming to limit its critical role in society.
  • Public endogenous money could transform the financial structure of K-12 education in the United States, addressing class and racial disparities and ensuring equitable distribution of education funds.

Deep dives

The Restriction of Public Education by Old Economic Thinking

The podcast episode explores how the U.S. system of public education is constrained by outdated economic thinking. The conversation with Larry Johnson, an Associate Professor of the Social Foundations of Education, highlights how universities and schools have been targeted by right-wing political figures to restrict their independence and critical role in society. Reagan and Nixon aimed to make universities more expensive and less accessible to working-class students, while Obama and Clinton promoted policies that focused on limiting criticism and transforming education to meet corporate interests. The episode reveals the historical opposition of black liberation education to industrialist education and uncovers the neoclassical foundations of the U.S. charter school system.

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