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These people, like Marshall and Kyla, who are doing well in life really don't understand what the median person is going through. Yes, nominal wages are up, but those wages can't buy what they used to because of inflation, especially when it comes to housing and healthcare. And yes, unemployment is low, but they're terrible jobs. There are a lot of low-wage, zero benefits jobs, i.e., retail, service, and gig jobs. Many people have to work two or three of those jobs just to scrape by. Yes, they're employed, but they can't afford anything and their lives are miserable.

Wonderful show, fellas! Subscribed.

New to both the podcast and the guest. Looking forward to hearing more. Great content.

The only problem I have with a “meritocracy” is if the system itself is corrupt.

Es un gran General excelente estratega

The going back to our support of the early soviets after the first world war, reminds me of our early history of embargo fight with Japan and how that eventually contributed to their attack on Perl Harbor.

Mark Twain popularized the phrase The Gilded Age. It's deja vu all over again...Peter Turchin has popularized the concept of the wealth pump....

In 1980 30% of American workers were members of unions. By 1992 that number was down to 10% as Reagan and the first Bush won their war against unions over that dozen year period. With the demise of the unions and the rest of the war against the working class by Reagan / first Bush, the working class was decimated. This split the Republican Party in two. Because there are only two parties in America, each party is a weird amalgam of completely different types of people. For example, the Republican party was always the party of the rich. But it also had become the party of evangelical and racist working class. When Reagan / first Bush spent a dozen years screwing the working class in behalf of the rich, the working class part of the party eventually rebelled against the party. Those are the MAGAs and the MAGAs chose Trump as the one to drain the conservatives who supported the rich out of the Republican Party. And, good riddance to them. In the eyes of the MAGAs, the job is only half done as they want Trump to drain the other half of the swamp, the Democrats, when he gets elected in November. In the 1992 election, unions were so weak that Clinton/Gore turned to traditional Republican donors for their election funds. This changed politics dramatically in the US as both parties now were owned by the 1% and completely abandoned representing the 99%. It also started the existential war between the two parties over donor money which continues to rage to this day. The death of the unions in the US gave rise to globalization. First with NAFTA and then with the treasonous shipping of all American manufacturing to China as there was no longer representation of American workers in the US government. The white working class, the MAGAs, were completely disenfranchised economically by the end of the Nineties.

JESUS does NOT support Donald Trump!

This was a super interesting conversation, thank you!

My family & i are gone because we live 2 hours from DC & Pentagon.

Love this stuff! Keep the episodes coming, really enjoying it.

Stop looking down. Seem like you are not interested and don't care .

Neo Liberalism on steroids in the 90s destroyed society. profit above all else caused a downward spiral, crime, drugs and oligarchs were out of control. greed went into overdrive and many people died because of it.

Your meritocracy argument is weak and vague. I choose not to explain on this comment because I am willing to explain my position in a larger forum. I have had a number of my views "borrowed" in the past by certain social media folks. I have attended four programs with strong legacy programming. Debate me. I am a researcher, as well...

My experience of the 90s as a young adult included my high school graduation (91), return to Canada (93), my US green card (94), and college graduation (2000). With that said, here's a few of my observations... Feeling of optimism as the Berlin Wall came down and we saw the dissolution of the Soviet Union. And looking back, we then forgot about many of those countries, particularly Russia. And look where we are today as a result. INS showed up at our door to deport my sister (a masters student) in a city filled with illegal immigrants (El Paso). During Operation Hold the Line, media tried to portray it as unpopular but it actually had a high level of support, particularly by those south of I-10 who saw this as addressing some of their crime issues. And today, we still have a broken immigration system. Clinton's impeachment was a big deal. Of course now every president gets impeached; it's SOP now. I guess we're moving on to criminal prosecutions now. Auto unions made and got exceptional demands. And then i watched Chrysler lay off a large percentage of their corporate workers in a very dehumanizing way. Now we have weak manufacturing, profit over quality (Boeing), and weak unions. So, yes, i do blame much of what is wrong today with the crap we tollerated in the 90s.

He said the era of landslides is over but what if Biden wins by a landslide? I think it's possible. (Now I'm either going to sound brilliant or like an absolute moron come November. No in-between 😂)

How can we listen to business news coverage for decades of business press and all of the CEOs & economic flying to Davos every year ready to confer about the direction they want the world to go -- and then listen today to the kind of rhetoric that comes out of the World Economic Forum and the mouth of Klaus Schwab -- and pay even passing attention to the World Health Organization and its demands to override National sovereignty around the world for public health matters -- and still sneer at any concern over globalism as a conspiracy theory? College kids had already demonstrated against globalism in the Pacific NorthWest ( albeit for very different reasons that people rant against it now) and William Grieder had already written his book "One World Ready or Not". The implications of the trend being about more than free trade was already well documented.

You might like dissident right commenter Distributist Dave. He often heard people say that we just need to go back to the 1990s. He counter argues that going back to the 1990s is like Sisyphus rolling the rock uphill again, and expecting it not to roll back down on us. I say similar things about "Go back to the 1950s" when some lame right winger says something about muh family values. I just ask "Are you bringing back jobs that only require an HS diploma to qualify for? Are you going to have businesses structured so that an entry level worker can expect to climb the corporate ladder with work ethic? Are you going to end housing as investment vehicles? If not, forget it!" I frequently argue that the 1960s happened because there are no perfect systems. There are only tradeoffs. Some people had enough of the 1950s tradeoffs and would risk joining the sexual revolution. One thing that pisses me off about eugenics, is that people just jump to the forcible stuff and not say a thing about opting in. I often joke about what would happen if there were more Neil DeGrasse Tysons and Thomas Sowells out there. I also oppose immigration. I see it as the rich manipulating supply and demand of labor in their favor, not in the favor of the commoner.

I liked Marshall's pressing on the issue of actually offering counter-policies and not just critics. Another thing that Marshall sometimes does with 'post-neoliberal consensus' guests, but today didn't particularly do, is to actually press them to precisely define terminology and not just say platitudes like 'get back to New Deal' (if they're on the left) or national conservatism (if they're on the right), without recognizing why some of the policies they defend were abandoned.

Why can't you let the guess speak instead of interrupting all the time.

Lesson for BJP Led NDA too, BJP says Minimum Government and Maximum Governance but on ground they do not follow it, Ruchir is very right when he says that Capitalism can survive and remain healthy only when Government intervention is minimal and when Government provides and maintains an ecosystem

why didn't anyone tell ganz that the placement of his mic covering his face detracted from the message ..

Rush Limbaugh's trickle-down economics theory was popularized in the early 90s

Stupid! Taiwan is part of China and all countries recognize that fact! What an idiot!

Whiteness and white identity as a concept was and still is America’s main political identity and hence the most important factor in creating identity politics.

The rent is too damn high! 😁

Hey Marshall what role does federalism play in these industrial priorities? Green Transition a matter left to the states? Chips Act a federal matter?

This is such a good conversation 😮 Really wish more saw it.

Welcome to complex systems.

I think the productivity gains if capitalism are not reaching everyone. I see three problems:- a) Not everyone is doing high productivity jobs. Many still work long hours for low wages. Instead, if people worked less hours using machines instead of manual labour, to earn the same wages, then that is still worth it. b) Those who are in high productivity jobs, work long hours with high wages, but poor work-life balance. I wish we could equalize this. By having more people work fewer hours of high productivity jobs. c) Most of the profits if productivity, stay with companies, who just fire their employees after the jib is done, and no more work is there. So, everyone should own shares of all profitable companies, to share the gains, because they too contributed to thise companies. In this way, production could be high enough to meet everyone's needs, and people would have enough earnings to buy the goods and services they need.

Let the dude talk. Lots of interruption in the beginning.

Let the dude talk. Lots of interruption in the beginning.

I'm not stalking Annie around the internet, promise, but I read her book a few weeks ago and I think we definitely need an updated 2024 version of The Day After. A new generation needs to see it.

The best response to this back and forth at 38:00 - 41:00 is the Damon Silvers talks on Neoliberalism giving at UCL. The first talk is titled "Understanding Neoliberalism as a System of Power".

Capitalism is being eaten alive by Technofeudalism. 😂

We need an interview with an author who analysed prominent fed chairman and their actions to get a good understanding of economic governance.

I agree with Ruchir, most of the problems we have with Capitalism have nothing to do with Capitalism and everything to do with Central Banks (a Marxist Ideology) stealing from the people. Yes it is one of the "10 Planks of Marxism" along with paying for "Industrialized Armies". We have too many unnecessary regulations killing businesses and government stealing people's money through inflation.

Correct, the captains of industry love capitalism until they run their businesses in to the ground and then they come crying to the government for a bailout. Meanwhile for the little guy, it's FU pull yourself up by your boot straps.

what a scam there wont be change untill the systems break without jail time and billioniares going bust

This guy realizes that people are unhappy with the unfettered free market capitalism of today, and proposes that we just need free-er markets? Malarkey.

I've ready Annie's book and it was a real eye opener. However, I think using the word "war" to describe a nuclear exchange is a misnomer. The event will not be "war" in its' traditional since. The event will be a "nuclear holocaust", an mutual annihilation. There will be winners and all life forms will be losers. In the 1960's the term "MAD" was used to describe a nuclear exchange; "Mutually Assured Destruction", and that is what would happen. I get a little tired of webcasts and advertisements offering means by which one could "survive" nuclear war. No one knows when missiles will launch and will have very little warning once they are launched. and no opportunity to seek the shelter you have provide yourself. Like we said in the NAVY: in case of a nuclear strike, bend over, put your head between your legs, grab your "cheeks" and kiss your sweet ass goodbye. BAck in the 1960's, Nikita Khrushchev, then premier of Russia, said that in a nuclear exchange, the living would envy the dead. He was correct.

And what about boards bonusing themselves with bailout money? They should be in jail for misappropriation of funds.

MMT LEFTY: pulling their hair out

It takes someone who actually experienced central planning (in 1970s/1980s India) to offer a proper counter-critic to the choir of mainstream critics of 'neoliberalism' 👌

what difference does it make as to what it would look like we would all be kaput

Great interview, thank you. Always a fan of guests that explain how things work and not just how things should be.

From „just in time“ to „just in case“ …. well said ….

I agree with some remarks regarding the excessive focus on efficiency vs. robustness of supply chains, as well as some legitimate critics about the Davos man (the main issue with them is not globalization, but globalism). But then the language used throughout the conversation was filled with common places with words everyone uses with increasingly void meaning like 'neoliberalism'... Goodman simultaneously complained about excessive focus on low prices while immediately after saying that big monopolies are increasing prices all over the place. Can't these people spot contradictions in their own arguments?

I picked this book at airport. Wonderful mirror to our modern times, world over. Unfortunately India is going the same way as US with all the mistakes it did. Our earlier ways of doing business with common sense intact is first thing that goes out of door. I hope more ppl read this eye opening book.