FRIDAY, September 19 at 4:00 pm
$15 for Praxis members; $20 general
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MARTIN BERNSTEIN
Money for Nothing: How the Modern Financial Sector is Shaping Our Entire Economy
The financial sector has changed radically since the Reagan presidency. Today, this sector lends mostly to itself and its increased speculation has enriched the wealthiest among us but has been devastating to more and more U.S. citizens. The 21st century economy temporarily props up consumption via household debt. Allowing the financial sector to continue driving our economy means persisting on this path. Martin Bernstein will address taking stock of this situation and suggest things we might do about it. We will also talk about the crisis of personal debt in America, the abusive terms issued by credit card banks, medical and student loan debt, and what solutions might be available to us. This is a hot topic for most Americans and we expect a robust discussion to follow the interview.
Martin Bernstein is a PhD candidate in Economics at Harvard University. He specializes in Macroeconomics and Public Finance. Recently, he penned an outstanding article for Jacobin Magazine, “Money for Nothing: Why the Modern Financial Sector is better at Extracting Rents than Funding the Future.” We will draw from this article and expand on the economic impact that the financial sector is foisting on the American public. This topic is even more relevant in today’s wild west, unpredictable economic world.
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