Joan Robinson, Democratic Party, John Maynard Keynes discussed on Factually! with Adam Conover


Politically very effectively for much of american history. You can think about the new deal and the type state that was created by the new deal as a hybrid of keynesian demand management and antitrust aggressive antitrust enforcement. Those two things together really really sort of form the basis for the administrative state that develops out of out of the great depression and one reason why these two things seem to go together so naturally. These different factions fought for at different times for different reasons but they had this political lines that lasted for like forty years. And one reason that made sense because these people have been talking about this and and seeing these problems as somehow related and these factions working together all the way back into the nineteenth century. The original anti monopoly movement is is not just about corporate breakup. It's about worker hours and the eight hour day of all of these. These ideas are sort of working together. People are talking to each other about the book. Before you have names. Like john maynard keynes or joan robinson to to attach them to be formalized into these into these theories. So i think we're seeing under biden the revival of of that kind of new deal idea of democracy in government that has been out of fashion in both parties for for quite some time. I think it's come back into fashion in part. Because of presidential politics i think watching the primaries in two thousand sixteen and twenty thousand for the democratic party. Was you know these were very different. Events than presidential primaries had been over the course of my lifetime. But i think also people are just responding to events. It's it it is amazing. In a lot of a lot of democratic party thought particular on the left there are sort of these deterministic ideas about well under capitalism. You know everything is determined by at you. Know the forces of production and who owns them and so all of our ideas are dictated by some mechanistic force beyond our control. And i i look at the last fifteen years or so and i see events happening in the world. People changing their minds and responding to them and actually having new ideas on both the left. And the right. I don't like all the ideas that are people are coming. But but i think clearly people are changing their minds. And it's it's hard for me to believe that this intellectual stuff that the actual discourse about this doesn't matter in some way. I it seems to me that it really does matter. And it's particularly the leadership of the democratic party. Well it is surprising. Because you know you heard for instance in the last in the last campaign bernie sanders and elizabeth. Warren both talking about issues of of antitrust varying degrees. And you could be forgiven for thinking well unless one of them wins. It's not going to go anywhere. I mean biden wasn't saying that stuff on the campaign trail but then like he he is elected and he starts nominating all the people that you would think that they would have nominated he. Starts you know following up on at least some of these policies and yet. It's not something that i would have predicted until i until i saw. It happened and i think you're probably right. That the the the discussion about these things has actually led to changing people's minds. So now that that's happening i mean what are the possibilities for the future that you see. I mean like for the last couple of years break up big tech has been a motto for a lot of the people i've had on my platform various speakers. Have you know had been been banging that drum for example. Could we start to see..

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