Today we face several crises that have either grown out of the distortion of our economy and our politics or are unsolvable because of them – including inequality, climate change, social division, crippled government, and endangered democracy. In her book, REIMAGINING CAPITALISM, REBECCA HENDERSON calls for us to abandon two ideas from the 1970s at the root of our troubles: First, that business should dominate politics and write its own rules; and second, that the sole purpose of corporate behavior is to enhance shareholder value. You can learn more at reimaginingcapitalism.org
It looks as if Joe Biden will win a very tight electoral college victory against arguably the worst president in history in the midst of a deadly pandemic and crippled economy the incumbent has bungled disastrously. How could this election even be close? ROB JOHNSON, Executive Director of the Institute for New Economic Thinking (INET), and I talk about how we got here and what it’s going to take to move forward. As long as both parties depend on Wall Street and the 1% for funding, our real challenges – climate change, restoring the middle class, healthcare, systemic racism, etc.- will never truly be dealt with.
In Capitalism, Alone: The Future of the System That Rules the World, BRANKO MILANOVIC says we’re all capitalists now. Liberal capitalism delivers rampant inequality and capitalist excess as it fights for hearts and minds with political capitalism, as practiced by China. Milanovic asks – What are the prospects for a fairer world now that capitalism is the only game in town? And what can we do to make that more likely?
I talk with EMMANUEL SAEZ, UC Berkeley economist, about his newest book, THE TRIUMPH OF INJUSTICE: How the Rich Dodge Taxes and How to Make Them Pay – co-authored with Gabriel Zucman. The pair grabbed headlines when their book reported that in 2018, for the first time in history, America’s richest billionaires paid a lower effective tax rate than the working class. Their solutions include a wealth tax, and they’ve advised Elizabeth Warren and Bernie Sanders on their proposals. You can learn more at taxjusticenow.org
CHUCK COLLINS is a senior scholar at the Institute for Policy Studies and author most recently of Born on Third Base: A One Percenter Makes the Case for Tackling Inequality, Bringing Wealth Home, and Committing to the Common Good. We talk about inequality in America and the GOP’s proposed 2017 tax bill that will only make things much worse.