BTS 10/27/08: Goldman Sachs, Obama, and Economic Disaster

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It’s all about Goldman Sachs.

John R. MacArthur, publisher of Harpers and the author of the new book You Can't Be President: The Outrageous Barriers to Democracy in America, reminds us that Obama’s number one bundler is Goldman Sachs. So what can we expect from an Obama Presidency? With the Bush administration forsaking ideology for pragmatic fixes to a rapidly sinking economy, the word socialism has entered into ‘respectable’ discourse, even if its meaning is wildly distorted. Rick MacArthur is counting what is missing in this discussion, including serious consideration of Marx’s contradictions of capitalism, as well as a general decline of democracy as well as the economy. He joins us from New York.

Continuing on the theme, UCLA economic historian Robert Brenner, author of the acclaimed Economics of Global Turbulence and The Boom and the Bubble joins us to go beneath the surface on the origins of the current crisis, and he says “What is Good for Goldman Sachs is Good for America.” Wait, wasn’t that General Motors? Tune in for a comprehensive and in depth look at the current crisis, its origins, and what we can expect as a way out from this acclaimed economic historian.

Read More for info on tonight's guests:

1. John R. MacArthur is Publisher and president of Harper’s magazine. He is an award-winning journalist and author of The Selling of Free Trade: NAFTA, Washington, and the Subversion of American Democracy, and his scathing critique of the media’s lack of skepticism regarding the first war in Iraq: Second Front: Censorship and Propaganda in the Gulf War. His latest book on the decline of American democracy is You Can’t Be President: The Outrageous Barriers to Democracy in America, coming out in November.

2. Robert Brenner is a professor of history at UCLA. Runs the Center for Comparative Theory and History. He is the author of The Economics of Global Turbulence and The Boom and the Bubble. He is currently writing a forthcoming book and article for New Left Review on the current economic crisis.