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Bad Faith

Episode 184 Promo - The Neoliberalism of It All (w/ Rep. Ro Khanna)

Bad Faith

Bad Faith

News, Comedy, Politics

4.52.8K Ratings

🗓️ 13 June 2022

⏱️ 4 minutes

🧾️ Download transcript

Summary

This week, California Representative Ro Khanna returns to the podcast to challenge Biden’s neoliberal approach to rising oil and food prices across the country. He also answers questions about the divisive endorsement of Nomiki Konst for NY state senate over a DSA endorsed candidate, the Billionare Republican within a hair’s breadth of becoming mayor of LA, Secretary of State Antony Blinken’s response to Abby Martin’s call for America to have a more forceful rebuke of Israel in the wake of Shireen Abu Akleh’s murder, and more.
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Produced by Armand Aviram.
Theme by Nick Thorburn (@nickfromislands)

Transcript

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0:00.0

I think it's about showing that we're using all the levers of government.

0:04.1

And you know, the critique, I hit a very smart economist call me up and I respect them and they

0:08.9

said that this is not one of my smarter ideas. And it's because they don't like government

0:13.4

intervention in the market. They just have a fundamental view that you let the market ride these

0:17.5

things out. I'm not for price controls, but I do think that the government should be intervening

0:23.1

in times of national emergency to help working class folks with lowering prices. And I think the

0:27.9

government should be intervening to bring production back. And that's the fundamental difference

0:32.3

as I see it between a progressive economic vision that believes in the robust experimental

0:37.8

use of government to help working class Americans. And neoliberalism, which has you don't

0:42.0

intervene much when markets. And right now the neoliberalism is winning with first prong of the

0:47.2

president's outfit is I'm expecting the independence of the fact. I mean, obviously that's written for

0:52.4

by economists. Does any voters say, Hey, bro, what are you going to do about gas prices? I think

0:58.0

you should respect the independence of the man. I'm just trying to channel. I mean, what people in

1:02.9

my constituency are saying. They're saying do something about prices. I think that's right. I am

1:08.0

curious though. When I spoke to Cory Drill last week, he did also say that some part of the gap

1:15.3

that we're seeing between the price of oil per barrel and the prices at the palm is because of

1:20.4

these future markets. So when you talk about addressing the neoliberalism of it all and the ways

1:27.1

that the profit motive is distorting even the real on the ground oil per barrel prices right now

1:32.5

for consumers is part of the story that the country has given enormous amount to oil subsidies

1:39.2

over the years. It has done an enormous amount to bail out these industries over the years.

1:45.4

And it's now in a position where these industries are seeing massive profits. I think what was

1:49.1

a $35 million in profits for the top five industries from a recent op-ed. And they're squeezing. They're

...

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