What Happened to the American Economy & How to Fix It | Julius Krein

Hidden Forces

Demetri Kofinas

Business, Government

4.8 • 1.6K Ratings

🗓️ 22 November 2021

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In Episode 220 of Hidden Forces, Demetri Kofinas speaks with Julius Krein, the editor of American Affairs, a quarterly journal of policy and political-economy that delves into the deeper sociopolitical, cultural, and economic issues facing America and other Western countries.

The episode is broken into two parts, the first hour of which focuses on issues of political-economy, policy, and market dynamics that have driven the American economy into a state of "proletarianization," where its citizens are increasingly ruled by an oligarchy of global elites whose insatiable appetite for wealth and power is endangering the very systems of free-market capitalism and liberal democracy that this kakistocracy claims to uphold. It's an outcome that Julius Klein would refer to as "capitalism without competence and feudalism without nobility."

The second hour of today's conversation is, unsurprisingly, the most satisfying insofar as Demetri and Julius tackle the socio-political and cultural dimensions and manifestations of the problems created by the perversions of what was earlier described as the "proletarianization" or conversion of the American economy and political system into a more corrupt, upwardly sclerotic, and extractive system of governance than anything experienced in America since at least the Gilded Age.

You can access the second part of this episode, as well as the transcript and rundown to this week's conversation through the Hidden Forces Patreon Page. All subscribers gain access to our premium feed, which can be easily added to your favorite podcast application.

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Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 11/15/2021

Transcript

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0:00.0	What's up everybody? My name is Dmitri Kaffinis and you're listening to Hidden Forces,
0:06.0	a podcast that inspires investors, entrepreneurs and everyday citizens to challenge consensus narratives
0:14.0	and to learn how to think critically about the systems of power shaping our world.
0:19.0	My guest in this week's episode is Julius Crine, the editor of American Affairs,
0:24.0	which is a quarterly journal of policy and political economy that I have become a voracious consumer of in the last month.
0:32.0	I think that American Affairs has served for me the function that I hope a podcast like this serves for you,
0:40.0	which is to say that it exposes me to a wide variety of ideas or dilemmas,
0:46.0	many of which I may already have an interest in or knowledge of,
0:50.0	but which either are presented in a way that caused me to think about them differently
0:55.0	or put together in such a way so that I'm able to actually make meaningful progress in my effort to understand them
1:02.0	and the underlying, no pun intended, hidden forces driving the phenomena that I'm grappling with
1:10.0	or trying to understand more completely.
1:13.0	That's a long-winded way of saying that I love this journal, love it.
1:17.0	And if you're a geek like me and you're interested in the deeper social political, cultural,
1:22.0	and economic issues facing the world, then you should absolutely check it out at americanaffairsjournal.org.
1:31.0	Now, in terms of today's conversation, it is, as usual, broken into two parts,
1:36.0	the first hour of which focuses on issues of political economy, policy, market theory,
1:42.0	and the complex intersection of incentives that have driven Western economies
1:47.0	and the American economy in particular into a state of proletarianization,
1:52.0	where we're not ruled by an oligarchy whose insatiable appetite for wealth and power
1:58.0	is endangering the very systems of free market capitalism and liberal democracy
2:03.0	that this elite claims to uphold.
	...

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