What Happened to the American Economy & How to Fix It | Julius Krein

Hidden Forces

In Episode 220 of Hidden Forces, Demetri Kofinas speaks with Julius Krein, the editor of American Affairs, a quarterly journal of policy and political-economy that delves into the deeper sociopolitical, cultural, and economic issues facing America and other Western countries.

The episode is broken into two parts, the first hour of which focuses on issues of political-economy, policy, and market dynamics that have driven the American economy into a state of “proletarianization,” where its citizens are increasingly ruled by an oligarchy of global elites whose insatiable appetite for wealth and power is endangering the very systems of free-market capitalism and liberal democracy that this kakistocracy claims to uphold. It’s an outcome that Julius Klein would refer to as “capitalism without competence and feudalism without nobility.”

The second hour of today’s conversation is, unsurprisingly, the most satisfying insofar as Demetri and Julius tackle the socio-political and cultural dimensions and manifestations of the problems created by the perversions of what was earlier described as the “proletarianization” or conversion of the American economy and political system into a more corrupt, upwardly sclerotic, and extractive system of governance than anything experienced in America since at least the Gilded Age.

You can access the second part of this episode, as well as the transcript and rundown to this week’s conversation through the Hidden Forces Patreon Page. All subscribers gain access to our premium feed, which can be easily added to your favorite podcast application.

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Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 11/15/2021