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Today on The Econoclasts, Yanis Varoufakis and Wolfgang Munchau shatter the foundational myth that capitalism is synonymous with free markets, exploring the cozy relationship between big business and the state, and questioning whether the ‘free market’ is just an ideological smokescreen. Is the system secretly designed to secure monopoly power, and will AI be a force for true competition, or will it be the ultimate weapon for existing tech giants to solidify their control forever?
The Econoclasts is the podcast from UnHerd in which Yanis Varoufakis and Wolfgang Munchau each week pick pillars of the economic orthodoxy – so-called ‘settled facts’ – and shatter them. Why? Because, while they don’t always agree politically, they’re united in one conviction: the consensus is rotten and the establishment’s model is failing.
Another very interesting conversation, imo. I wonder if this corporate/state marriage will be threatened if a new generation of Democrat politicians arise who are truly determined to redistribute wealth and rein in corporations (e.g., Mamdani, AOC etc). Or are these young iconoclasts just waiting to be bought off by big corporations.
Good question. It depends on whether they are genuine ideologues or grifters.
Mamdani lives in a rent controlled apartment, even with his wealthy and privileged upbringing. AOC for all her “bar work” was also brought up in a well to do family and an expensive education.
For these grifters, the price may be high but they can always be bought.