Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy #1567 How to Sell an Immoral Economic System to the Masses (Throwback)
Sep 3, 2025
Binya Apavam, author of "The Economists' Hour," and Saagar Enjeti, co-host of Breaking Points, join in for a candid exploration of neoliberalism's roots. They discuss how policies from the Pinochet era in Chile laid the groundwork for economic inequalities that persist today. Apavam highlights the Powell Memo's impact on corporate power, while Enjeti dives into the complexities of ESG investing, revealing its contradictions and potential for greenwashing. Together, they critique the troubling dynamics of capitalism and the necessity for systemic change.
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Chile As Neoliberal Laboratory
- Chile became a neoliberal laboratory after Pinochet adopted Chicago School policies taught by Milton Friedman.
- Macroeconomic growth benefited corporations while millions fell into poverty and inequality remained extreme.
Powell Memo Laid A Blueprint
- Lewis Powell's 1971 memo urged corporate America to build coordinated political power across lobbying, PR, academia, and the judiciary.
- Powell's prescriptions were later enacted and fueled the modern conservative corporate takeover of politics.
Corporate Money Remade Washington
- Robert Reich links the Powell memo to the rise of a massive corporate political industry and weakened regulatory enforcement.
- This shift concentrated corporate power, hurt consumers, and entrenched corporate interests in government.
