What is “Econ 101,” and why do economists always get things wrong? In this episode we dismantle orthodox economics, exploring where it comes from, why it’s wrong, and how “It’s Econ 101!” became a cynical rallying cry in defense of the status quo. Guests Eric Beinhocker (The Origin of Wealth) and James Kwak (Economism) explain that, far from a science, Econ 101 is really just a story we tell ourselves to justify who gets what and why. And it’s time to tell a different story.nEric Beinhocker: Professor of Public Policy at the Blavatnik School of Government, University of Oxford. Executive Director of the Institute for New Economic Thinking at the Oxford Martin School. Author of The Origin of Wealth.nTwitter: @ericbeinhockernJames Kwak: Professor of Law at the Connecticut School of Law. Co-founder of the economics blog “The Baseline Scenario”, a commentary on developments in the global economy, law, and public policy. Author of Economism: Bad Economics and the Rise of Inequality. Columnist for The Atlantic.nTwitter: @jamesykwaknFurther reading: https://www.theatlantic.com/business/archive/2017/01/economism-and-the-minimum-wage/513155/
How neoliberalism captured Democrats (with James Kwak)
Democrats used to be known as the party of the working people—so how did they get so off track? Who took over the party, and why? Author and professor James Kwak joins Nick and Paul in a blistering analysis of the decline of the Democratic Party, and explains how we can get it back on track. nnNews clips credit: C-SPAN, ProfGP, CNN nnJames Kwak is a professor at the UConn School of Law and the chair of the board of the Southern Center for Human Rights. He is the author or co-author of 13 Bankers, White House Burning, and Economism. His latest book, Take Back Our Party: Restoring the Democratic Legacy, is available for free online at The American Prospect.nnTwitter: @jamesykwaknnRead Take Back Our Party on The American Prospect: nnIntroduction – Restoring the Democratic Legacy: https://prospect.org/politics/take-back-our-party-restoring-the-democratic-legacy/ nnChapter 1 – Their Democratic Party: https://prospect.org/takebackourparty/chapter-1-their-democratic-party/nnChapter 2 – Bad Policy: https://prospect.org/takebackourparty/chapter-2-bad-policy/nnChapter 3 – Bad Politics: https://prospect.org/takebackourparty/chapter-3-bad-politics/ nnChapter 4 – Our Democratic Party: nhttps://prospect.org/takebackourparty/chapter-4-our-democratic-party/