Mehrsa Baradaran's book, The Quiet Coup: Neoliberalism and the Looting of America, argues that the economic system in the United States has been rigged in favor of the wealthy and powerful. Baradaran contends this wasn't done through some dramatic conspiracy, but rather through decades of legal and policy changes driven by neoliberalism.
Neoliberalism is an economic philosophy that emphasizes deregulation, privatization, and free markets. Baradaran argues that while neoliberals claimed to be reducing government influence, they actually used the legal system to reshape the economy to benefit the wealthy. This involved, for example, weakening regulations on financial institutions and corporations.
The book suggests that neoliberalism hasn't led to a more free market or greater prosperity, but rather to increased inequality, financial instability, and phenomena like crypto fraud. Baradaran argues that neoliberalism is a failed economic concept and that a new approach is needed.
Guest:
Mehrsa Baradaran is a law professor specializing in financial regulation. She is the author of How the Other Half Banks, The Color of Money, and The Quiet Coup.
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*This interview will be recorded on Thursday, May 9, 2024.
