54 minutes | Apr 24, 2019
LEFT OUT: Raúl Carrillo and Tousif Ahsan on creating a public bank in NYC
On this episode, Left Out's Paul Sliker & Dante Dallavelle speak with Raúl Carrillo of New Economy Project and Tousif Ahsan of NYPIRG about the coalition effort to bring a public bank to NYC as part of a broader vision for economic and racial justice; commercial vs. public banking models; and how public money can work for the public good. Timestamps of topics discussed: Introduction to Raúl Carrillo (2:08) Intoduction to Tousif Ashan (4:58) What is the New Economy Project and Public Bank NYC coalition? (9:18) Bigger picture: What is wrong with the current banking system and what is the case for public banking as an alernative? (13:36) How a public bank would work in New York City: legally, financially, and economically (15:09) Relationship with individual depositers: public banks versus commerical banks (21:41) Listener question: Will public banks replace private commercial loans to companies? (Plus: What’s the model for governance to make sure that the public’s money stays in the hands of the public?) (23:17) How different cultures have different relationships between people and the resources they generate (27:53) On redlining and how banks "lend" money (29:18) Existing public banking models vs. the Public Bank NYC model (33:12) A public bank as a nonpartisan project/institution (35:28) The relationship between big banks and alternative lending (38:55) The structural effects of a public bank in NYC and how it might disrupt how existing commerical banks operate (41:18) What are the biggest struggles and challenges to bringing a public bank to NYC? (44:45) Tactics for educating and promoting the concept and creation of a public bank (46:19) Grassroots organizing for a public bank and the issue of scale (48:18) How to get involved in organizing and supporting the coalition for a public bank in NYC (50:20) Organizing for a public bank in your community (52:17) To learn more, support, or get involved in organizing with the Public Bank NYC coalition, please visit: www.publicbanknyc.org Follow on Twitter: @PublicBankNYC Follow on Twitter: @RaulACarrillo Follow on Twitter: @NewEconomyNYC Follow on Twitter: @NYPIRG
7 minutes | Mar 26, 2019
[TEASER] Raúl Carrillo and Tousif Ahsan on divestment, investment, and the function of a public bank
In this Left Out teaser, Raúl Carrillo and Tousif Ahsan explain the roles of divestment, investment, and the function of a public bank. Our full episode with Raul and Tousif about the coalition effort to bring a public bank to NYC will air on Friday, March 29.
4 minutes | Mar 13, 2019
[TEASER] Raúl Carrillo on redlining & how banks "lend" money
In this teaser, Raúl Carrillo explains how commercial banks work and the issue of redlining. Check back soon for our full episode with Raúl Carrillo of New Economy Project and Tousif Ahsan of NYPIRG about the coalition effort to bring a public bank to NYC.
70 minutes | Feb 18, 2019
LEFT OUT: Erik Olin Wright on real utopias and anti-capitalist strategies
In this episode, we release an hour of unheard material from our conversation with Professor Erik Olin Wright, who sadly passed away this year on January 23rd, 2019. Erik Olin Wright was a leading Marxian professor and public intellectual who taught at the University Wisconsin for over four decades. It was truly an honor to be able to interview Erik Olin Wright, so much so that our long and rich conversation warranted splitting it up into different episodes. To hear the first part of our conversation, search "LEFT OUT: Erik Olin Wright on understanding class—a Marxian perspective." This series, in our opinion, is an indispensable conversation for those interested in class analysis from a truly Marxist perspective. Rest in peace and power, Erik Olin Wright. Erik Olin Wright website: https://ssc.wisc.edu/~wright/ Obituaries: https://www.nytimes.com/2019/01/30/obituaries/erik-olin-wright-dead.html https://www.jacobinmag.com/2019/01/erik-olin-wright-obituary-class-marxism
103 minutes | Sep 5, 2018
LEFT OUT: Maliha Safri on worker cooperatives and the solidarity economy
In this episode, Professor Maliha Safri of Drew University sits down to discuss her work centered on worker cooperatives and their relation to the larger solidarity economy. We talk about New York City's and Philadelphia's worker cooperative movements and how they differ from other waves of worker cooperative development in the past. We also talk about worker cooperative development initiatives that are taking place in NYC and how support from the municipal government can best be leveraged. To access some of Professor Safri's work visit http://drew.academia.edu/MalihaSafri For her work done in Philadelphia visit https://onlinelibrary.wiley.com/doi/epdf/10.1111/anti.12368 To view or add to the solidarity map mentioned at the end of the episode visit http://solidarityeconomy.us/ To read NYC city council reports documenting worker cooperative development over the past years visit https://www1.nyc.gov/assets/sbs/downloads/pdf/about/reports/worker_coop_report_fy17.pdf
66 minutes | Aug 7, 2018
[BONUS] Michael Hudson: an autobiography
In this bonus episode, listen to the fascinating story of renowned economist Michael Hudson — the professor featured on our weekly economic and financial news series — The Hudson Report. Many other economists consider Michael Hudson the greatest living economist in the world. Here he gives a detailed account of his life, from childhood up to present time. *This autobiographical interview was conducted at Peking University on May 7, 2018 by Lau Kin Chi of the Global University for Sustainability. A special thanks to Lau Kin Chi and his colleagues for allowing us to share this audio.
20 minutes | Jul 30, 2018
THE HUDSON REPORT: The "next" financial crisis and public banking as the response
In this episode of The Hudson Report, we speak with Michael Hudson about the implications of the flattening yield curve, the possibility of another global financial crisis, and public banking as an alternative to the current system. The Hudson Report is a Left Out weekly series with the legendary economist Michael Hudson. Every week, we look at an economic issue that is either being ignored—or hotly debated—in the press that week. If you’re enjoying Left Out, please support us by becoming a subscriber on Patreon: https://www.patreon.com/leftout
77 minutes | Jul 24, 2018
LEFT OUT: Pavlina Tcherneva on the macroeconomic effects of a job guarantee
In this episode of Left Out, Paul Sliker speaks with Pavlina Tcherneva at the Levy Economics Institute about the macroeconomic effects of a federal job guarantee, the common criticisms around its design and implementation, and much more. Pavlina Tcherneva is a leading American economist and Modern Monetary Theory (MMT) scholar. She’s currently the Director of the Economics Program at Bard College and a Research Scholar at the Levy Economics Institute. Follow her on Twitter: @ptcherneva Timestamps of topics discussed: Introduction to Pavlina Tcherneva (4:27) Hyman Minsky and Post-Keynesian Institutionalism (12:14) How economists and the general public misread and misinterpret the work of John Maynard Keynes (17:00) The problems of income inequality and unemployment as a window for understanding the need for a job guarantee (21:40) Addressing criticisms on the funding of a job guarantee (28:24) Addressing criticisms of the design of a job guarantee (31:00) Addressing concerns of a job guarantee creating “make work” and "bullshit jobs" (38:03) Addressing concerns of how a federal job guarantee can ensure states, local governments and communities will create enough jobs (43:55) On the role of the Federal Reserve in managing the macroeconomy, employment, and the conceptual misunderstandings of unemployment (47:14) On the importance of the job guarantee pegging the US dollar to labor (53:06) A job guarantee versus a universal basic income (57:40) The job guarantee in Argentina in the aftermath of its 2001 economic crisis (104:45) Outlook on the US economy if we remain without policies like a job guarantee (1:12:32) Reports mentioned in this conversation: The Job Guarantee: Design, Jobs, and Implementation (Pavlina Tcherneva; Levy Economics Institute) Inequality Update: Who Gains When Income Grows? (Pavlina Tcherneva; Levy Economics Institute) For more of Pavlina Tcherneva’s work on the federal job guarantee and much more, please visit: https://www.pavlina-tcherneva.net/ To learn more about the Levy Economics Institute and the research and publications of their other leading scholars, please visit: http://www.levyinstitute.org/ If you're enjoying Left Out, please support us by becoming a Patron. Your monthly donations help keep Left Out alive: www.patreon.com/leftout/
4 minutes | Jul 21, 2018
[TEASER] Pavlina Tcherneva on how a job guarantee pegs the dollar to labor
In this Left Out teaser, economist Pavlina Tcherneva explains how if the US Government were to initiate a federal job guarantee, it would be pegging the US Dollar to labor and creating a condition where human labor becomes the anchor for the currency. Our full episode with Pavlina Tcherneva on Keynes, Minsky, a federal job guarantee and much more, will release this week.
4 minutes | Jul 14, 2018
[TEASER] Pavlina Tcherneva on Hyman Minsky and Post-Keynesian Institutionalism
One of the main components of Minsky’s work is that he took an “institutionalist” approach and argued that abstract economic theory could not be applicable in all times and places but must be institution-specific. In this Left Out teaser, economist Pavlina Tcherneva explains the importance of Minsky's incorporation of post-Keynesian theory with an “institutionalist” recognition for the different kinds of past, current, and future economic institutions. Our full episode with Pavlina Tcherneva on Keynes, Minsky, a federal job guarantee and much more, will release this week. --------------- Pavlina R. Tcherneva is Associate Professor and Chair at the Department of Economics at Bard College. She is also a Research Associate at the Levy Economics Institute, and a Senior Research Scholar the Center for Full Employment and Price Stability. She specializes in the fields of monetary theory, fiscal policy, and macroeconomic stabilization. Her research examines the impact of direct job creation on growth, income inequality, and unemployment, and in particular on women and youth. She has developed a blueprint for operationalizing her Job Guarantee proposal for the United States. Tcherneva most recently consulted for Bernie Sanders' 2016 U.S. Presidential campaign. She frequently speaks at Central Banks around the world and has worked with economists and policymakers from different countries on developing and evaluating direct job creation schemes. She has published numerous journal articles and book chapters and her 2004 book Full Employment and Price Stability: The Macroeconomic Vision of William S. Vickrey(with Forstater, eds.) is a rare collection of the lesser known works by the late Nobel Prize-winning economist. During Summer 2006, she was a visiting scholar at the University of Cambridge Centre for Economic and Public Policy, U.K., where she immersed herself in Keynes’s collected writings and personal papers. She developed an interpretation of Keynes’s policy approach to full employment for which she was recognized by the Association for Social Economicswith the Hellen Potter Prize (2012). She is a two-time grantee from the Institute for New Economic Thinkingfor her work on rethinking fiscal policy.
21 minutes | Jul 4, 2018
THE HUDSON REPORT: Argentina gets biggest IMF loan in history
In this episode of The Hudson Report, Paul Sliker speaks with Michael Hudson about the economic and political implications of the International Monetary Fund's $50 billion loan to Argentina, which is the largest IMF credit line in history. --------- The Hudson Report is a new weekly series produced by Left Out with the legendary economist Michael Hudson. Every episode we pick Professor Hudson’s brain on an economic issue that is either being ignored—or hotly debated—that week in the press. If you're enjoying Left Out and The Hudson Report, please consider becoming a monthly Patreon subscriber. Your small donations help the show alive: https://www.patreon.com/leftout/ Follow Left Out on Twitter: @leftoutpodcast
63 minutes | Jul 1, 2018
LEFT OUT: Kate Aronoff on unorthodox economics, a job guarantee, and the climate crisis
Kate Aronoff is a graduate student of Economics at John Jay College, a contributing writer at The Intercept, and a writing fellow for In These Times covering the politics of climate change, economics and public policy, the White House and the Trump administration, and the resistance to Trump's agenda. In the this episode of Left Out, we cover a number of topics with Kate: Heterodox vs. Neoclassical (mainstream) economics; Women and economics; The history of the Job Guarantee and today's proposals; The state of the Democratic Party; Climate change and climate politics in the age of Trump; The privatization of Puerto Rico and PREPA Articles discussed in the show: A GUARANTEED "JOBS FOR ALL" PROGRAM IS GAINING TRACTION AMONG 2020 DEMOCRATIC HOPEFULS TOP REPUBLICAN PLANS TO USE FOSSIL FUELS TO MAKE PUERTO RICO "THE ENERGY HUB OF THE ENTIRE CARIBBEAN Check out the rest of Kate's recent work: http://inthesetimes.com/community/profile/322171 https://theintercept.com/staff/kate-aronoff/ Follow Kate on Twitter: @KateAronoff ---- We need your help to keep providing free content. Please support Left Out by becoming a Patron: www.patreon.com/leftout/
3 minutes | Jun 12, 2018
[TEASER] Kate Aronoff on Puerto Rico's PREPA privatization
In this clip of our upcoming episode with Kate Aronoff, Kate recalls her recent exchange in Puerto Rico with the chairman of the House Natural Resources Committee, Rob Bishop, R-Utah, about the privatization of PREPA and his plans to turn Puerto Rico into an export hub for natural gas. Our full episode with Kate Aronoff on heterodox economics, her recent reporting on a federal job guarantee, U.S. politics in the Trump era, climate change, Puerto Rico, and more, will air in the coming week. If you're enjoying Left Out, please support us by becoming a subscriber on Patreon. We depend on your small donations to help Left Out stay alive and keep churning out content that's always free and never behind a paywall. ------------------------------- Kate Aronoff is a graduate student of Economics at John Jay College, a contributing writer at The Intercept, and a writing fellow for In These Times covering the politics of climate change, economics and public policy, the White House and the Trump administration, and the resistance to Trump's agenda.
9 minutes | Jun 1, 2018
Should millennials buy homes?
In this Left Out bonus clip, economist Michael Hudson answers whether millennials should get into the housing market. "There are two classes millennials now. One class of millennials inherits houses from their parents, or have a trust fund or the parents have paid for their education in full and have helped them get a house or have given them their own house. Rich millennials who have parents helping them are in one class, and the class of self-supporting millennials--which used to be just about everybody in their late 20s--can’t afford to be self-supporting anymore, even in their 30s." The Hudson Report is a new weekly series produced by Left Out with the legendary economist Michael Hudson. Every episode we cover an economic or political issue that is either being ignored—or hotly debated—that week in the press.
25 minutes | May 31, 2018
THE HUDSON REPORT: US vs. China housing... and those millennials
In this week's edition of The Hudson Report, Paul Sliker speaks with Michael Hudson about the state of housing in the U.S. vs. China, why unaffordable housing is not a part of true nature, and why the self-supporting class of millennials can't afford to buy homes. "Housing is a very good investment if you have millionaire parents." -Michael Hudson ----------- If you're enjoying Left Out and these weekly episodes with Michael Hudson, please consider supporting us by becoming a subscriber on Patreon. We need your small donations to continue providing free content: https://www.patreon.com/leftout
89 minutes | May 29, 2018
LEFT OUT: Ann Pettifor on why the public must understand how our monetary systems work
In this episode of Left Out, political economist Ann Pettifor speaks with Paul Sliker about the production of money, as well as why challenging the despotic power of finance and fixing our economic system, crucially depends on people's understanding of it all. "Very often my experience is that activists don't ever talk about this stuff. They don't have a list of these demands. We want to do something about taxes or we want to do something about investment—all that tangible stuff that you can see on a day-to-day basis. We don't ever to talk about this thing which you can't see, which is the financial system. So if we can just get talking about that we'll begin to make ways." -Ann Pettifor Topics discussed: Money - what it is and how it is produced; How our banking and monetary systems work; Why mainstream economists leave out the activity of Banks, Money, and Private Debt in their thinking and modeling; Solutions for fixing and democratizing the global financial system; What the general public can do once they understand how our banking and monetary systems work; How people can effectively challenge and reverse the influence of extremely powerful financial interests; Bitcoin; Job Guarantee vs. UBI; Brexit; Jeremy Corbyn and the state of the Labour Party; European politics and the rise of the Far Right. Pick up Ann's latest book: 'The Production of Money: How to Break the Power of Bankers' www.versobooks.com/books/2706-the-…uction-of-money We need your help to keep providing free content. Please support Left Out by going to: https://www.patreon.com/leftout/
9 minutes | May 12, 2018
[TEASER] Ann Pettifor on challenging the despotism of finance
Political economist Ann Pettifor on what history can teach us about how to effectively challenge the despotic nature of today's global financial system. Look out for the full episode with Pettifor on the production of money, and why fixing our economic system depends on the general public's understanding of it. Pick up the book: The Production of Money: How to Break the Power of Bankers *Please support Left Out on Patreon *Follow Left Out on Twitter: @leftoutpodcast *Like Left Out on our new Facebook page
15 minutes | May 7, 2018
[BONUS] Stephanie Kelton on a federal job guarantee
In this Left Out short, Stephanie Kelton responds to the critiques and criticisms of recent U.S. job guarantee proposals. --- Links: www.levyinstitute.org/pubs/pn_18_2.pdf www.cbpp.org/research/full-empl…nt-full-employment www.wsj.com/articles/the-proble…rice-tag-1525267192 www.stitcher.com/podcast/voxs-the-weeds/e/54314295
24 minutes | Apr 26, 2018
THE HUDSON REPORT: The history of debt cancellation and Jesus's economic justice activism
Left Out, a podcast produced by Paul Sliker, Michael Palmieri, and Dante Dallavalle, creates in-depth conversations with the most interesting political thinkers, heterodox economists, and organizers on the Left. The Hudson Report is a new weekly series produced by Left Out with the legendary economist Michael Hudson. Every episode we cover an economic or political issue that is either being ignored—or hotly debated—that week in the press. In this episode we discuss the ancient history of debt cancellation, the untold life of Jesus as an economic justice activist, and more largely Professor Hudson's forthcoming book, "...and forgive them their debts," out in summer 2018. ***Please help keep this show alive by supporting us on on patreon.com/leftout***
60 minutes | Apr 12, 2018
LEFT OUT: Erik Olin Wright on understanding class—a Marxian perspective
In this episode, we sat down with the Marxist sociologist Erik Olin Wright, who has taught at the University Wisconsin for over four decades. We talk about the different understandings of class, how class shapes individual identities, and how it affects struggles to organize the shop floor and much more. Erik Olin Wright website: https://ssc.wisc.edu/~wright/ ** Follow Left Out on our brand new Twitter account: @leftoutpodcast ** Please donate to Left Out on Patreon to receive exclusive content and access to engaging with our future guests. Your small donations keep this alive: https://www.patreon.com/leftout