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The Hartmann Report

Can America Wake Up From the Magical Free Market Lies?

The Hartmann Report

Thom Hartmann

News, Debate, The Hartmann Report, Economics, Thom Hartmann, Democracy, Climate Change, Congress, America

4.51.3K Ratings

🗓️ 26 December 2023

⏱️ 58 minutes

🧾️ Download transcript

Summary

More than 40 years into the Reagan experiment in neoliberalism, how is that working out for us? Was it all based on a lie all along?

Plus - Thom reads from 'Tell the Bosses We're Coming: A New Action Plan for Workers in the Twenty-First Century' by Shaun Richman.

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Transcript

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0:00.0

This is the Tom Hartman program.

0:17.0

Senator Chris Murphy gets it.

0:20.0

And he's begging his fellow Democrats to wake up to the the headline for my today's

0:24.6

op-ed is called Can America Wake Up from the free market magic lies?

0:29.8

42 years ago Ronald Reagan launched America into this grand experiment.

0:35.0

It was something that back in the 1940s and 50s a group of economists,

0:39.0

mostly Europeans, but also Milton Friedman, came up with this idea that we could bring the world peace and

0:45.9

prosperity through the utopia of the so-called free market, this brand new thing. And Reagan and his Vice President, George

0:55.4

Hubert Walker Bush, who originally called this voodoo economics, became

0:59.2

true believers, as did Bill Clinton, as did George W Bush, as did Barack Obama.

1:05.0

They all pursued neoliberal policies and it turns out that these policies were based on a lie.

1:11.0

Did you know that if Reagan had never entered based on a lie.

1:12.8

Did you know that if Reagan had never introduced neoliberalism and wages had continued to

1:18.6

grow from 1980 to today at the same rate they had from 1930 to 1980 that today the

1:25.4

average working person would be making almost three times as much as they are

1:29.0

making and Elon Musk would not be worth hundreds of billions of dollars.

1:33.8

You might be worth one or two?

1:36.6

I mean, you know, this is, this experiment is called neoliberalism or Reaganomics,

1:41.8

and it has transferred 51 trillion dollars out of the

1:45.8

homes and pockets of working-class Americans into the money bins of the

1:50.0

morbidly rich over the last 42 years. I lay this out in my book the hidden

1:54.9

history of neoliberalism how Reaganism gutted America. Neoliberalism moved

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