We’re joined by Phil Neel, a communist economic geographer, to dig deep into different theories of crisis in capitalism. While theorizing crisis is a core part of the Marxist analysis of capitalism, we focus on understanding how major approaches in mainstream economics try (and fail) to explain the features, causes, and solutions for crisis. Bonus: we learn how economics is a disproven cosmology maintained by bourgeois ideology—like astrology for the ruling class. Double bonus: we end the episode with an explanation and critique of Modern Monetary Theory (MMT).

Check out some of Phil’s work:

••• Global China, Global Crisis: Falling Profitability, Rising Capital Exports and the Formation of New Territorial Industrial Complexes | Phillip Neel https://drive.google.com/file/d/1krt15Qx0lPizv7SPR8b0GhsmGK61k1TP/view

••• Hinterland: America’s New Landscape of Class and Conflict | Phil Neel https://www.akpress.org/hinterland.html

••• Phil Neel at Brooklyn Rail | https://brooklynrail.org/contributor/phil-a-neel

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Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)