Reviving Growth Keynesianism

Robert Manduca and Nic Johnson
  • 4.8 (13)
  • SOCIAL SCIENCES

A podcast about economic thought from the mid-20th Century, and why it matters for us today.

  1. 01/05/2023

    Herman Mark Schwartz on Corporate Strategy

    For this episode we talk to Herman Mark Schwartz on a wide range of issues - from biopolitics, industrial policy, and the New Cold War political economy to why "financialization" is a limited analytical frame for recent history. Mark argues that conflict between firms over profits is just as important - if not moreso - than conflict between capital and labor over the consumption share. The shift from midcentury "Fordism" to today's three-tiered economic structure happened as the result of a "Kalecki moment" in the late-1960s and early-1970s: workers, women, and the third world wanted more, and corporate strategy transformed to meet, and rebuff, their challenges. *** LINKS *** You can find his faculty profile here: https://politics.virginia.edu/people/profile/schwartz And the articles we discussed today here: https://americanaffairsjournal.org/author/herman-mark-schwartz/ and here: https://www.phenomenalworld.org/analysis/manufacturing-stagnation/

    1h 53m

  2. 11/17/2022

    Jamie Martin on *The Meddlers* and Legitimation Machines

    Jamie Martin joins us to discuss his new book *The Meddlers: Sovereignty, Empire, and the Birth of Global Economic Governance.* After the first World War, the tools  that European empires had used to govern their colonies' economies were applied to Europe itself. To stabilize that respatialization politically, the victorious powers had to invent new institutions - what Martin calls "legitimation machines" - to justify treating European countries like colonies. The new institutions were supposed to legitimize global economic governance, but were castigated as "meddlers" as often as not. We ask him what we would have to do to escape the imperial roots of today's institutions. *** LINKS *** Follow Jamie Martin on twitter @jamiemartin2 Faculty page: https://history.fas.harvard.edu/people/jamie-martin Book page: https://www.hup.harvard.edu/catalog.php?isbn=9780674976542 Interview mentioned: https://www.thenation.com/article/culture/the-rotten-roots-of-global-economic-governance/ Wanting more? Check out other interviews Martin has done: https://www.youtube.com/watch?v=ZoOE3Qg_zN4&ab_channel=TheMajorityReportw%2FSamSeder https://www.youtube.com/watch?v=8RBIpteLAbk&ab_channel=HarvardBookStore

    1h 11m

  3. 09/19/2022

    Eric Monnet on *Controlling Credit*

    Eric Monnet joins us to discuss his book *Controlling Credit: Central Banking and the Planned Economy in Postwar France, 1948-1973.* Prior to the neoliberalizations of the late 20th century, most central banks in Europe worked very differently than they do today. Interest rates played less of a role than credit controls in a more concentrated, segmented, and statist banking system. Representatives from all across the economy  - farmers, workers, industrialists - sat on important decision making boards that oversaw credit policy "in the general interest." A vision for "nationalizing" credit brought together right-wing Bonapartists, Gaulists, and neo-Simonian planners focused on efficiency with left-wing forces of the popular front focused more on social justice. But starting in the late 1960s, technocratic pressure to liberalize financial markets from economists and the bureaucracy overwhelmed the merely "particular" social interests which were embedded and represented in the French credit system. Andrew Elrod from seven episodes back also joins the team!

    1h 11m

  4. 05/31/2022

    Nina Eichacker on Solyndra, Socialism, and Fiscal Space

    For this episode, we talk with Nina Eichacker, Assistant Professor of Economics at the University of Rhode Island. We discuss her wide ranging work on green industrial policy, the politics of Eurozone monetary policy, and two pre-pandemic books about American socialism. *** LINKS *** Read more of Nina Eichacker's work on her web page: https://ninaephd.org/ Follow her on twitter: @nina_econ "The Case for More Solyndras" https://www.technologyreview.com/2020/11/19/1012302/solyndra-climate-change-industrial-policy-opinion/ "Institutions, Liquidity Preference, and Reserve Asset Holding in the Eurozone Core and Periphery Before and After Crises: Some Stylized Facts" https://osf.io/preprints/socarxiv/qprm3/ "A Political Economy of Fiscal Space: Political Structures, Bond Markets, and Monetary Accommodation of Government Spending Potential at Municipal, National, and International Levels" https://osf.io/preprints/socarxiv/yxjh5/ "Can America Truly Turn Socialist?" https://www.tandfonline.com/doi/abs/10.1080/05775132.2019.1694274 Although we did not discuss it, also be sure to check out her NOEMA article with Jason Oakes: "Fight Inflation with Surplus, not Scarcity" https://www.noemamag.com/fight-inflation-with-surplus-not-scarcity/

    1h 49m

  5. 05/04/2022

    Christy Thornton on *Revolution in Development: Mexico and the Governance of the Global Economy*

    For this episode, Christy Thornton joins us to talk about her book *Revolution in Development.* It tells the story of the revolutionary Mexican state's exclusion from the international financial system in the early 20th century, its new conception of credit and push for multilateral development lending in the interwar period, and its ultimately tragic defense of the Bretton Wood institutions in the postwar period. Along the way she asks us to think about hegemony in the world-system, agency in the global south prior to the much-hyped moment in the 1970s, and Mexico's revolution in development as a cautionary tale about compromise with dominant institutions. Thank you to our intern, Keegan Hill, for helping to edit this episode. *** LINKS *** Christy Thornton's faculty page: https://soc.jhu.edu/directory/christy-thornton/ Buy *Revolution in Development: Mexico and the Governance of the Global Economy* here: https://www.ucpress.edu/book/9780520297166/revolution-in-development

    1h 3m

  6. 03/23/2022

    Expecting Skanda Amarnath

    For this episode, we talk with Skanda Amarnath, executive director of Employ America. We discuss some of the myths about inflation in the 1970s, the forgotten inflation of early 1950s, how monetary policy really works, and Paul Volcker's stolen valor. Follow Skanda on twitter @IrvingSwisher and Employ America @employamerica Read more about Skanda and EA's work here: https://www.employamerica.org/ For more on what we talk about in the show specifically, see: https://www.employamerica.org/researchreports/how-the-fed-affects-inflation/ https://www.employamerica.org/researchreports/expecting-inflation-the-case-of-the-1950s/ https://www.employamerica.org/researchreports/beyond-the-phillips-curve-a-dynamic-approach-to-communicating-assessments-of-maximum-employment/ *** OTHER LINKS *** Jeremy Rudd (2021) - "Why Do We Think That Inflation Expectations Matter for Inflation? (And Should We?)," Finance and Economics Discussion Series 2021-062. Board of Governors of the Federal Reserve System (U.S.). https://www.federalreserve.gov/econres/feds/files/2021062pap.pdf Cambridge Capital Controvercy - https://en.wikipedia.org/wiki/Cambridge_capital_controversy Jay Powell - "Monetary Policy in a Changing Economy" - https://www.federalreserve.gov/newsevents/speech/powell20180824a.htm Isabella Weber - "Could strategic price controls help fight inflation?" - https://www.theguardian.com/business/commentisfree/2021/dec/29/inflation-price-controls-time-we-use-it Great Grain Robbery - https://en.wikipedia.org/wiki/1973_United_States%E2%80%93Soviet_Union_wheat_deal Medicare and inflation: Employ America - https://www.employamerica.org/researchreports/inflation-and-healthcare/ San Francisco Fed - https://www.frbsf.org/economic-research/publications/economic-letter/2016/may/medicare-payment-cuts-affect-core-inflation/ Chicago Fed - https://www.chicagofed.org/publications/chicago-fed-letter/2018/407

    1h 20m

  7. 03/05/2022

    Eric Helleiner on *The Neo-Mercantilists: A Global Intellectual History*

    Eric Helleiner joins us to discuss his fascinating new global history of neo-mercantilist ideas. In addition to the well-known "Listian Intellectual World" there is a whole universe of thinkers who were not derivative of List but did dream of industrialization by way of a protectionist and interventionist state. American Henry Carey, for example, was distinct on a number of dimensions - and more influential around the world. But there were also traditions endogenous to East Asia, which developed and expanded on earlier mercantilist discourses that can be traced back to China's Warring States period or Japan's feudal era. Rather than diffusing through the translation and circulation of a single text - as in the case of Smith or Marx - neo-mercantilist ideas seemed to spontaneously appear anytime the conditions were ripe for it. State forms other than the nation - from diaspora to empire to international institutions to a cosmopolitan world state - were dreamt of in the period before 1939 as possible vehicles for neo-mercantilist policy. Versions left, right, and center show how politically underdetermined it was as a discourse. Note: this episode was recorded prior to the invasion of Ukraine. *** LINKS *** Eric Helleiner's faculty page: https://uwaterloo.ca/political-science/people-profiles/eric-helleiner *The Neomercantilists: A Global Intellectual History* https://www.cornellpress.cornell.edu/book/9781501760129/the-neomercantilists *Forgotten Foundations of Bretton Woods: International Development and the Making of the Postwar Order* https://www.google.com/books/edition/Forgotten_Foundations_of_Bretton_Woods/VTMPjwEACAAJ A refresher on the original mercantilism https://en.wikipedia.org/wiki/Mercantilism Steve Pincus, Forum: Rethinking Mercantilism https://www.jstor.org/stable/10.5309/willmaryquar.69.1.0003 Fredric List https://en.wikipedia.org/wiki/Friedrich_List Henry Carey https://en.wikipedia.org/wiki/Henry_Charles_Carey Alexander Hamilton's "Report on Manufactures" excerpts https://press-pubs.uchicago.edu/founders/documents/v1ch4s31.html Commodore Perry https://en.wikipedia.org/wiki/Matthew_C._Perry Sun Yat-sen https://en.wikipedia.org/wiki/Sun_Yat-sen EF Schumacher https://en.wikipedia.org/wiki/E._F._Schumacher Gustav von Schmoller https://en.wikipedia.org/wiki/Gustav_von_Schmoller Mihail Manoilescu https://en.wikipedia.org/wiki/Mihail_Manoilescu Marcus Garvey https://en.wikipedia.org/wiki/Marcus_Garvey Raul Prebisch https://en.wikipedia.org/wiki/Ra%C3%BAl_Prebisch

    1h 45m

  8. 12/27/2021

    Charles Postel on *Equality: An American Dilemma, 1866-1896*

    For this episode, we spoke with Charles Postel about his recent book *Equality: An American Dilemma, 1866-1896.* After the Civil War, many social movements in favor of "equality" flourished in the U.S. -- champions of racial, sexual, regional, and economic equality pressed their case like never before. Organizations like the Woman's Christian Temperance Union and the Knights of Labor mobilized women and workers on a massive scale, while the Grange - a project initiated by federal bureaucrats from D.C. - assembled farmers into the largest and most coherent organ for class-interest in the country. Each had to face up to the practical dilemmas of pursuing national political power in an uneven and divided country. ****** LINKS ****** *The Populist Vision* - https://global.oup.com/academic/product/the-populist-vision-9780195176506 *Equality: An American Dilemma* - https://us.macmillan.com/books/9780809079636/equality "If They Repeal the Progressive Era, Should We Care?" - https://www.jstor.org/stable/43903026 *** REFRESHERS *** The Grange - https://en.wikipedia.org/wiki/National_Grange_of_the_Order_of_Patrons_of_Husbandry Women's Christian Temperance Union (WCTU) https://en.wikipedia.org/wiki/Woman%27s_Christian_Temperance_Union Frances Willard - https://en.wikipedia.org/wiki/Frances_Willard Knights of Labor - https://en.wikipedia.org/wiki/Knights_of_Labor Terence Powderly - https://en.wikipedia.org/wiki/Terence_V._Powderly Chinese Exclusion Act - https://en.wikipedia.org/wiki/Chinese_Exclusion_Act Homestead Acts - https://en.wikipedia.org/wiki/Homestead_Acts Frances Ellen Watkins Harper - https://en.wikipedia.org/wiki/Frances_Harper Elizabeth Cady Stanton - https://en.wikipedia.org/wiki/Elizabeth_Cady_Stanton Henry George - https://en.wikipedia.org/wiki/Henry_George Thomas Piketty - Capital in the Twenty-First Century - https://en.wikipedia.org/wiki/Capital_in_the_Twenty-First_Century T. Thomas Fortune - https://en.wikipedia.org/wiki/Timothy_Thomas_Fortune Ignatius Donnelly - https://en.wikipedia.org/wiki/Ignatius_L._Donnelly The Omaha Platform - https://en.wikipedia.org/wiki/Omaha_Platform *** HISTORIOGRAPHY MENTIONED *** David Montgomery - Beyond Equality: Labor and the Radical Republicans, 1862-1872 - https://www.press.uillinois.edu/books/?id=p008696 Walter Johnson - The Broken Heart of America: St. Louis and the Violent History of the United States - https://www.basicbooks.com/titles/walter-johnson/the-broken-heart-of-america/9780465064267/ Gregg Cantrell - The People’s Revolt - Texas Populists and the Roots of American Liberalism - https://yalebooks.yale.edu/book/9780300100976/peoples-revolt

    1h 45m
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4.8
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About

A podcast about economic thought from the mid-20th Century, and why it matters for us today.

Information

  • Creator
    Robert Manduca and Nic Johnson
  • Years Active
    2020 - 2023
  • Episodes
    24
  • Rating
    Clean
  • Copyright
    © 2023 Reviving Growth Keynesianism
  • Show Website
    Reviving Growth Keynesianism