How the 1% Highjacked and Weaponized Capitalism to Rip Off the Global Population 11-12-2023

How the 1% Highjacked and Weaponized Capitalism to Rip Off the Global Population 11-12-2023
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How Finance Capitalism Ruined the World - Dr. Michael Hudson & Dr. Steve Keen, DSPod 203
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20,126 views November 12, 2023
Economist Dr. Michael Hudson / journalist. Dr. Steve Keen

00:00:00 Go!
00:00:19 What we're really talking about is finance capitalism
00:03:25 What is Capitalism?
00:17:55 Was the end of the Happy Days inevitable?
00:28:50 A more nuanced dichotomy than capitalism vs socialism
00:36:01 Why does GDP still manage to slow down?
00:46:32 Why is debt so stifling?
00:55:29 What happens to the money that accumulates at the top
01:01:39 The shape of global financial pressure
01:11:02 Modern examples of debt jubilees 01:19:12 Solutions without collapse?
01:23:13 Persistent economic myths
01:45:38 Strange realities of cancelling student debt
02:03:40 Financializing the basic structures of society
02:15:07 How to structure the next iteration 02:27:48 Doomer optimism
02:33:47 A new, more effective state
02:39:25 Closing thoughts
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Dr. Michael Hudson is an American economist, Professor of Economics at the University of Missouri–Kansas City and a researcher at the Levy Economics Institute at Bard College, former Wall Street analyst, political consultant, commentator and journalist. Dr. Steve Keen is an Australian economist and author.
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A post-Keynesian, he criticizes neoclassical economics as inconsistent, unscientific and empirically unsupported. Our conversation examines the false dichotomy of capitalism v. socialism and considers the true dichotomy, which is industrial capitalism v. finance capitalism. Hudson and Keen argue that the transition to finance capitalism, where unearned income is considered economic growth, has truly sown the seeds to ruin the world.
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FAIR USE FOR EDUCATIONAL PURPOSES
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Mirrored From:
https://www.youtube.com/@DemystifySci_Podcast