Professor Bill Mitchell is an economist at the University of Newcastle. In addition to being one of the founding figures of Modern Monetary Theory, Mitchell has also been preoccupied by the interplay of culture and economics that led to the death of the left over the course of the last fifty years. We sit down with him to trace the economic transformations that gradually eroded class consciousness and replaced it with divisive identity politics, the role of shadowy thinktank money in the transformation, and to understand qui bono from the complete absence of a salient leftist critique of the modern day. DEMYSTICON 2025 ANNUAL MEETING IN PORTUGAL!!! June 12-16: https://demystifysci.com/demysticon-2025 PATREON: get episodes early + join our weekly Patron Chat https://bit.ly/3lcAasB MERCH: Rock some DemystifySci gear : https://demystifysci.myspreadshop.com/ AMAZON: Do your shopping through this link: https://amzn.to/3YyoT98 SUBSTACK: https://substack.com/@UCqV4_7i9h1_V7hY48eZZSLw@demystifysci 00:00 Intro 00:07:08 Postmodernism & the 1960s 10:15 Economic and Intellectual Divide 00:14:16 Global Economic Turbulence 00:21:24 Transformations in Economic Systems 00:25:29 Left vs. Right Economic Ideologies 00:28:06 The Role of Government During Economic Downturns 00:35:04 The Shift from Keynesianism to Monetarism 00:44:28 The Influence of Corporate Power and Think Tanks 00:52:21 Neoliberalism and the Spread of American Economic Ideals 58:27 Value of Work and Leisure in Economic Thought 01:05:00 Middle-Class Seduction 01:08:59 Impact of Austerity on Society 01:15:26 State's Role in Economic Inequality 01:21:02 Monetarist Influence on Public Perception 01:25:49 Economic Misconceptions 01:27:10 Modern Monetary Theory Explained 01:33:11 Government Spending & Corruption 01:51:18 Broken, Hollow Political Systems 01:59:01 Narrative Construction #WealthInequality, #EconomicHistory, #PoliticalEconomy, #ModernMonetaryTheory, #KeynesianEconomics, #MonetaryPolicy, #Neoliberalism, #EconomicInequality, #FiscalPolicy, #EconomicTheories, #BrettonWoods, #GlobalEconomy, #Austerity, #EconomicSystems, #PublicSpending, , #DebtEconomy, #philosophypodcast, #sciencepodcast, #longformpodcast Check our short-films channel, @DemystifySci: https://www.youtube.com/c/DemystifyingScience AND our material science investigations of atomics, @MaterialAtomics https://www.youtube.com/@MaterialAtomics Join our mailing list https://bit.ly/3v3kz2S PODCAST INFO: Anastasia completed her PhD studying bioelectricity at Columbia University. When not talking to brilliant people or making movies, she spends her time painting, reading, and guiding backcountry excursions. Shilo also did his PhD at Columbia studying the elastic properties of molecular water. When he's not in the film studio, he's exploring sound in music. They are both freelance professors at various universities. - Blog: http://DemystifySci.com/blog - RSS: https://anchor.fm/s/2be66934/podcast/rss - Donate: https://bit.ly/3wkPqaD - Swag: https://bit.ly/2PXdC2y SOCIAL: - Discord: https://discord.gg/MJzKT8CQub - Facebook: https://www.facebook.com/groups/DemystifySci - Instagram: https://www.instagram.com/DemystifySci/ - Twitter: https://twitter.com/DemystifySci MUSIC: -Shilo Delay: https://g.co/kgs/oty671