John Harvey, The Cowboy Economist, is a Professor of Economics at Texas Christian University, Forbes columnist, and author of Contending Perspectives in Economics: A Guide to Contemporary Schools of Thought.
He joins me to discuss the history of capitalism—how we went from Friedman and Hayek’s ideas of the free market to a deregulated monstrosity driving inequality and the climate crisis—how the Cold War influenced neoclassical economics, and how to reimagine the relationship between governments, the private sector and citizens to create an alternative to capitalism.
John says, “Economics is dead".” The British government certainly seem hell-bent on proving it with PM Truss and Chancellor Kwarteng delivering a neoliberal mini-budget the likes of which we’ve never seen. But here’s the thing—that neoliberal madness was rejected by people and markets alike.
Is the world ready for something new?
Planet: Critical investigates why the world is in crisis—and what to do about it.