Michael McCarthy

In this discussion, Michael McCarthy, an Associate Professor of Sociology at UC Santa Cruz and author of 'The Master's Tools,' explores how financialization has undermined democracy and exacerbated inequality. He critiques the shift from robust social security to privatized financial systems. The talk delves into the failures of democracy for the working class, the impacts of the Federal Reserve's policies on wealth distribution, and the complexities of democratizing finance through public banking and innovative models, all while emphasizing the need for community engagement.