#1491 Mismanaging Capitalism Can Lead to Fascism (Inflation and the Working Class)
Best of the Left - Leftist Perspectives on Progressive Politics, News, Culture, Economics and Democracy
Jay Tomlinson
4.5 • 3.4K Ratings
🗓️ 27 May 2022
⏱️ 68 minutes
🧾️ Download transcript
Summary
Air Date 5/27/2022
Today we take a look at the disruptions to society that can unfold in times of economic distress such as high inflation, price gouging, wage stagnation and income inequality as well as some policy ideas for turning things around.
Be part of the show! Leave us a message at 202-999-3991 or email Jay@BestOfTheLeft.com
BestOfTheLeft.com/Support (Get AD FREE Shows and Bonus Content)
BestOfTheLeft.com/Advertise Sponsor the show!
SHOW NOTES
"Germany's capitalists drove it into WW1" Warns Richard Wolff. Could America's capitalist lead us into fascism? "Learn from history"
Ch. 2: You Are Being Lied to About Inflation - Robert Reich - Air Date 2-28-22
The underlying problem is not inflation. It’s corporate power. The entire American economy is concentrated into the hands of a few greedy, corporate giants with the power to raise prices.
Jayati Ghosh, who says prices of essentials are soaring much higher than can be explained by oil prices and supply shortages alone, because of what she calls "feverish speculation" in financial markets and corporate profiteering.
Professor Wolff joins to discuss the situation for workers in the US today.
OMAR OCAMPO of the Institute for Policy Studies Program on Inequality and the Common Good explains how it happened, and what actions can and must be taken to reverse this obscene trend.
An overhaul to the system where the government subsidizes only a few formula brands can help combat the monopolization that has caused this crisis, says David Dayen, executive editor of The American Prospect.
The Biden Administration’s 2023 budget proposal includes a Billionaire Minimum Income Tax and a rewrite of stock buyback practices. Will these changes actually take effect? Niko Lusiani is the Director of Corporate Power at the Roosevelt Institute.
MEMBERS-ONLY BONUS CLIP(S)
Ch. 9: Elon Musk’s Billionaire Games - The Daily Show with Trevor Noah - Air Date 5-7-22
Trevor’s no finance expert, but the details of Elon Musk’s Twitter buy seem a little weird.
FINAL COMMENTS
Ch. 12: Final comments on the culture of distrust of the poor
MUSIC (Blue Dot Sessions)
Produced by Jay! Tomlinson
Visit us at BestOfTheLeft.com
Listen Anywhere! BestOfTheLeft.com/Listen Listen Anywhere!
Follow at Twitter.com/BestOfTheLeft
Like at Facebook.com/BestOfTheLeft
Contact me directly at Jay@BestOfTheLeft.com
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to this episode of the award-winning Best of the Left podcast in which we shall |
| 0:07.0 | take a look at the disruptions to society that can unfold in times of economic distress, |
| 0:12.7 | such as high inflation, price-gouging, wage stagnation, and income inequality, as well |
| 0:18.5 | as some policy ideas for turning things around. |
| 0:21.5 | Clips today are from the Tom Hartman program, Robert Reich, Democracy Now, The Zero Hour, |
| 0:27.6 | The Bradcaste and Pitchfork Economics, with additional members only clips from The Daily |
| 0:33.0 | Show and The Zero Hour. |
| 0:41.4 | So how does, you know, specifically, I suppose, inflationally defascism and how, in a larger |
| 0:48.0 | sense, do economics swing the cycles of world history throughout history? |
| 0:54.2 | Well, they do it over and over again. |
| 0:57.0 | It ought to be a basic understanding of the enormous importance and power of economics |
| 1:03.6 | in general and economic turmoil in particular. |
| 1:07.6 | Let me very briefly go with you through the German experience and show you how impactful |
| 1:13.0 | it is in terms of where we are now here in the United States in 2022. |
| 1:19.8 | The German economy exploded in the second half of the 20th century. |
| 1:25.0 | Together with the United States, Germany and the United States were the great challengers |
| 1:29.9 | to the British Empire. |
| 1:31.8 | As the century progressed, it became clear that one or the other would replace the Britain |
| 1:39.2 | as the dominant capitalist power in the world and the British were powerless to stop it. |
| 1:45.5 | In the end, the Germans and the British went to war and the Americans went with the British |
| 1:51.7 | in that war, World War I. |
| 1:54.1 | But it came as a cataclysm to the Germans because the working class there had wages |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Jay Tomlinson, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Jay Tomlinson and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.