“The real problem isn't deficits, It's Neoliberalism“ Top Economist warns

Comments · 790

• GL

  @glasperlinspiel · 10 months ago

  Neoliberalism was a wealth transfer not creation strategy. It gave us the billionaires behind the politicians.

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• RR

  @rrni2343 · 10 months ago

  Neoliberal economics was good for the very few. That was the point of it and it worked like magic.

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• UT

  @utubemewatch · 10 months ago

  Shockingly, today’s economic models don’t even include banks—banks are NOT part of their models because they think their neutral distributors of currency, rather than currency creators.  And it’s not the Fed, the Fed creates maybe 5-10% of new money. Small commercial banks create the money.  The banking intermediary theory is nonsense.

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• AN

  @andreafrost7338 · 10 months ago

  As a trained accountant this is the first economics lesson that makes sense. Thank you so much.

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• 12

  @12_4_LifeGoHawks · 10 months ago

  What he’s talking about is so damn important! Please listen to him!!

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• JE

  @jeff__w · 10 months ago

  I’ve been critical of your videos before, not because of the substance but because I found the explanations just unclear. This one, however, is brilliantly clear, at just the right level of analysis for a lay, non-economic audience to understand (while still touting your software to those who might be interested in it). Keep these videos coming!

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• DA

  @davidmcculloch8490 · 10 months ago

  The prof's clarity of thought and his logical explanation show me why some describe modern economics as advanced maths applied to flawed logic. The subject is too often used to give power to wealth and allow control by capital. Financialisation is further used for exploitation and many of it's instruments (such as derivatives that enabled the financial crash) would be banned in a sane world and in a meritocracy.

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• AN

  @andrewprentice8857 · 10 months ago

  You have clarified the dreadful burden of neoliberalism which Australia has suffered under, for most of the last 28 years!<br>I know it&apos;s an old cliche, but the rich have got richer, and the poor have got poorer. &nbsp;<br>The gap between the wealthy and the underprivileged has widened to an immense chasm. &nbsp;<br>Ordinary Australians have been ripped off and only now are they starting to realise it.

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• DE

  @derms718 · 10 months ago

  Spot on!! &nbsp;<br><br>Remember when this neoliberalism was getting started - even as a child could immediately see the consequences. &nbsp; Hell, the proponents boasted of the consequences from the outset. What they relied upon was delusion at the heart of &apos;the American Dream&apos;, that everybody had an equal chance of becoming wealthy irrespective of circumstances, social structures and abilities. Further, they were promised that those successful were predisposed to beneficence. <br><br>Unfortunately, the proles had never heard of Randism nor read any of her philosophy which was the basis of neoliberalism and at the core of neoliberal policy. <br><br>Having read &apos;Atlas Shrugged&apos; at a very young age, even without maturity knew that this system was intended to create a neofeudal &nbsp;system of an elite few and mass poverty.

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• GR

  @GregoryJWalters · 10 months ago

  Super! From Ptolemy to Copernicus in Economic theory. &nbsp;Better late than never!

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• GR

  @graemewoodhead9469 · 10 months ago (edited)

  Something so-called adherents to neo-liberalism like to forget; in order for market participants to behave rationally they&apos;re all assumed to have access to perfect information.<br><br>Maybe it&apos;s time for far greater financial transparency, greater whistle blower protections and banning the use of NDA&apos;s to gag former employees, journalists, etc?<br><br>If everyone knew what they were buying and who they were dealing with we could ditch a load of those nasty regulations they hate so much.

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• SA

  @SarahCharles92 · 10 months ago

  This is like listening to Richard J Murphey but from Down Under.

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