
This is the Michael Hudson "TED TALK” on economics. It covers everything you need to know about our failed global economic system and what to do about it, as featured in his book, J IS FOR JUNK ECONOMICS – A GUIDE TO REALITY IN AN AGE OF DECEPTION. Transcript (edited) Ross: The common refrain that you hear is that economics has failed. Blame that on the current economic paradigm: neoliberalism. In its own terms, it hasn't failed. It's worked perfectly according to the trajectory on which it aims: to steer society on behalf of the One Percent. Michael: Academic economics has been turned into a cover story to defend a status quo steered by the wealthiest One Percent, mainly by the banking and financial sector instead of by governments and their regulatory or ...