Washington has turned into the thing that it freed itself from 241 years ago – a bloated and corrupt imperial power, desperate for taxes, constantly hunting down resources overseas…sustained by military might and control of the global monetary system. Arrogant beyond belief, oblivious to its own hypocrisy, and dismissive of the need to maintain the respect of other nations – the US government is a reflection of everything it was created to overthrow.
Economics and the schools that teach it have been wrong for such a long time that its students have collectively embraced a mythical model that does not account for the role of money, banks, debt or land.
Renegade economist and friend of the show, Professor Steve Keen recently took the stage at the Sunday Papers event in London to discuss what you’re not being told about the global economy.
“Economics has failed,” is a phrase that is becoming more common by the day, the result of the current economic paradigm of neoliberalism. But economist, Professor Michael Hudson says economics has not failed it all. It is working perfectly well, according to the rules upon which it has been set. On this week’s episode of Renegade Inc, we explore the cover story of neoliberal economics.