This week, Jeremi and Zachary are joined by Dr. Marc-William Palen to discuss the history of free trade and associated hopes for international peace.

The banks and financiers are a common target of the left — and often the right — purportedly sucking the lifeblood out of the real industrial economy. Stephen Maher argues that while the financialization of the economy has intensified under neoliberalism, finance has played a central role in the growth of capitalism — and the disciplining of labor — from at least the Gilded Age. He discusses the recent rise of asset management companies Vanguard, State Street, and BlackRock, which have concentrated ownership at a level unprecedented in the history of capitalism.

Resources:

Scott Aquanno and Stephen Maher, The Fall and Rise of American Finance: From J.P. Morgan to BlackRock Verso, 2024

Photo credit: Lee De Cola

The post The Fall and Rise of U.S. Finance appeared first on KPFA.

Join the profound journey into the heart of eco-socialism with Dr. John Bellamy Foster, a guiding voice in the discourse on the environment and socioeconomic systems. Our thought-provoking conversation peels back the layers of the metabolic rift, a concept that reveals the tension between capitalism's exploitation of nature and the delicate ecological balance we must preserve. Dr. Foster, a luminary in the field, articulates the vision of Marx in a contemporary light, offering listeners a powerful understanding of how our societal structures clash with the planet's natural rhythms.

Today's episode navigates the often-misunderstood relationship between Marxism and our environment, exposing the historical schisms that have diverted Western Marxism from ecological considerations. With Dr. Foster's expertise, we confront the legacy of Stalin's Soviet Marxism and its impact on stifling ecological thought within the framework of Marxist theory. The conversation also touches on the relevance of the metabolic rift to current sustainability challenges and the profound alienation of our society from its ecological underpinnings, unraveling the complex interplay of economic, scientific, and ideological forces.

As we wrap up this compelling episode, the debate over sustainable development and degrowth takes center stage. We scrutinize the contrasting needs of nations at different stages of development, questioning the role of socialism in carving a path towards an ecological civilization. Dr. Foster's insights into China's environmental policies and the German Green Party's shifting emphasis provide a nuanced exploration of how countries are navigating the urgent call for environmental action. Armed with the wisdom shared today, listeners are equipped to consider the pressing question: how do we realign our economic systems with the planet's ecological imperatives for a sustainable future?

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Art Design: Corn and C. Derick Varn

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In this episode, I talk to professors Sirohi’s and Gupta’s book on development discourses from India and Latin America.

As mentioned in the episode, here is the poem translated at the beginning of the last chapter:

Problems of Underdevelopment

Monsieur Dupont calls you uncultured
because you cannot tell who was
Victor’s Hugo’s favourite grandson.
Herr Müller has started to scream
because you do not know (exactly)
the day that Bismarck died.
Your friend Mr. Smith
an Englishman or Yankee, I cannot tell,
becomes incensed when you write Shell.
(It seems you leave out an “l”
and, what’s more, you pronounce it chel.)
Okay, and what of it?
When it’s your turn,
make them say cacarajícara
and ask them where is the Aconcagua
and who was Sucré
and just where on this planet
did Martí die.
And please:
tell them to always speak to you in Spanish.
 
Nicolás Guillén
 
 
Trans. by Rahul Sirohi and Sonya Surabhi Gupta

Money on the Left speaks with Pavlina Tcherneva, Professor of Economics at Bard College and leading scholar of–-and advocate for—Modern Monetary Theory (MMT). Many of our listeners will be familiar with Dr. Tcherneva's contributions to MMT, especially her book, The Case for a Job Guarantee (Polity Press, 2020). She is also Director of Open Society University Network’s Economic Democracy Initiative, instrumental to the publication of a United Nations report on the job guarantee, titled “The Employment Guarantee as a Tool in the Fight Against Poverty.” We speak with Pavlina about her work, and also get her perspective on the causes and conditions of MMT’s movement from the margins of economic discourse toward the mainstream of political economic thought. 

Visit our Patreon page here: https://www.patreon.com/MoLsuperstructure

Music by Nahneen Kula: www.nahneenkula.com

Listeners of the Rhodes Center Podcast have probably heard of companies like Black Rock, State Street and Vanguard. You’ve also probably heard how, through ETFs and other investment products, these types of investment firms own a staggering share of the world’s biggest companies (20-25% of the S&P 500 by some estimates). 

But in this episode, you’ll hear about a whole other side of asset management; one that’s more opaque, and possibly much more influential (and corrosive) to our daily lives.  

Brett Christophers is a geographer and professor at Uppsala University’s Institute for Housing and Urban Research, and author of the new book “Our Lives in Their Portfolios: Why Asset Managers Own the World.” In it, he explains how asset management companies like Blackstone and Macquarie Asset Management do more than passively own shares. Over the last few decades, they've begun to invest in and actively run a growing portion of our infrastructure and essential services: hospitals, care homes, water treatment plants, bridges and even parking meters. 

On this episode, he talks with Mark Blyth about the economics of this new subspecies of asset management, and how they’ve begun to reshape our society, economy and planet in ways we don’t fully understand. 

Learn about and purchase “Our Lives in Their Portfolios: Why Asset Managers Own the World”

Learn more about other podcasts from the Watson Institute at Brown University

Since World War II, the United States and its currency, the dollar, have come to play a central role in the broader global economy. And in recent decades, policymakers have used this role as a weapon, cutting off access to malign actors and punishing those who act contrary to U.S. national security interests. But cultivating such primacy has proven to be a double-edged sword, with more complicated ramifications for many Americans. 

In her new book “Paper Soldiers: How the Weaponization of the Dollar Changed the World Order,” Bloomberg reporter Saleha Mohsin digs into the history of the dollar’s role in the global economy and what its increasing weaponization may mean moving forward. Lawfare Senior Editor Scott R. Anderson recently joined Mohsin to discuss her new book and what we should all know about the new economic and political moment we are living through. 

Support this show http://supporter.acast.com/lawfare.

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Rethinking Economics is all about questioning the core foundations of economics. This series questions economic orthodoxy to better understand the forces and shifts shaping our society and the world. Together, we’ll interrogate things like the efficacy of economic models, if mainstream assumptions are always correct, and why the ideas and concepts you learn about in textbooks may lead you astray.

For our inaugural discussion of the series, we will be talking to our returning guest, and one of my favorite economists, Dr. Steve Keen. Our talk was recorded in March of 2024, and is hosted by me, Nathan Greene, a researcher here at the Henry George School.

Many people, including myself, don’t fully understand monetary theory or monetary economics. Admittedly, it’s quite confusing. There are a lot of dynamics at play from banks, to households, money, and central banks, just to name a few. If you ever learned the terms money multiplier, monetary base, or reserve requirement ratio, but are not really sure what it means, you’re not alone. 

Dr. Keen is an expert on the dynamics of monetary economics and macroeconomics. We’ll explore his critiques of the efficient market hypothesis to his more recent analyses of debt dynamics and financial instability. Together, we talked about the shortcomings of conventional economic thinking, and why it’s so damaging not just to the economy, but the planet as well. By questioning fundamental assumptions, he invites us to reconsider our approach to economic policy and reshape our vision of a more equitable and sustainable future. At a time when the world is largely ignoring calls to abandon fossil fuels and the green transition feels painstakingly slow, his ideas and critiques feel more important now than ever before. 

Dr. Keen received his bachelor's degree from the University of Sydney and went on to complete his master's and Ph.D. in Economics and Economic History from the University of New South Wales. He is the author of several books on economics, of which the two most famous are "Debunking Economics" and "The New Economics: A Manifesto." Both critique conventional economic theory. We were even lucky enough to hear about his upcoming book, "Rebuilding Economics from the Top Down." Dr. Keen has taught at the University of Western Sydney and Kingston University in London. He is currently leading the development of a software package called Minsky, a dynamics-based visualization tool for macroeconomic modeling.

To check out more of our content, including our research and policy tools, visit our website: https://www.hgsss.org/