The case for 'anti-fascist economics'
Summary
Isabella Weber discusses her new book, *Anti-Fascist Economics*, arguing that unfettered free markets threaten democracy by failing to provide the material foundation for human dignity. She critiques Milton Friedman’s theories, asserting that government intervention is necessary to stabilize essential costs like food and energy. Weber highlights successful policy examples from Mexico and Spain, contending that economic policy must prioritize affordability to prevent the rise of the extreme right.
Topics discussed
Sponsors and On Point Club promotion
Introduction of guest Isabella Weber
Milton Friedman's legacy and 'Free to Choose'
Critique of the 'pursuit of freedom' narrative
The magic of the price system and the pencil
Friedman's 1980 context and German history
Reality of supply chains vs. invisible hand
Human dignity and material foundations of freedom
Market freedom vs. public management
Government intervention and the fascist virus
Roosevelt, the New Deal, and economic security
Sponsor break and preview of AI episode
Urgency of the current political moment
Economic policy advice and 'Never Again'
Juxtaposing 'Free to Choose' and 'Free to Live'
State power and violence in capitalism
Redefining the goals of economic policy
Focus on essentials: food, energy, and care
Critique of free market theory as natural law
Sponsor breaks for Is Business Broken and Anthropic
Case study: India's price stabilization measures
Case study: Spain's energy price controls
Defense of price controls against heresy
Global division of labor and path dependence
Critique of economic textbooks and growth metrics
Rent control in New York City
Time dimension in supply and demand diagrams
Berlin's rent crisis and supply response
Climate crisis as root of affordability issues
Profit explosions during inflation and crisis
Floors for livelihoods and ceilings for power
Corporate earnings calls as economic data
Narrowing plurality of economic views
Consequences of ignoring dignity in policy
Closing and preview of election interference segment
Preview: AI in education and personalization
Final sponsor message from Anthropic
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