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1 Feb, 2019 10:57

Public banking & other radical economic ideas w/ Ellen Brown

This week on Redacted Tonight: VIP, we start in Latin America. In Venezuela, the US is supporting a power-grab against the recently elected leader of the country, President Nicolas Maduro. Juan Guaido, the head of the nation's disbanded National Assembly, declared himself president one day after US Vice-President Mike Pence spoke with him on the phone. In Brazil, the son of President Jair Bolsanaro has been connected to a death squad suspected of assassinating Marielle Franco, a popular politician and activist. And in Matamoros, Mexico, there was a wildcat factory worker's strike that caught the attention of the world.

In the second half of the show, Lee interviews Ellen Brown to talk about her ideas for making the modern economy less exploitative. They discuss different types of banking, and her research on having a public banking system. They also delve into two policy ideas currently in the public discourse. The first is the idea of a universal basic income, which would guarantee everybody a set amount of money on a recurring basis to help them meet their needs. The second idea is a modern monetary theory, which argues that it is impossible for a government that is spending its own currency to go broke, and that it is good for governments to build a deficit as long as that deficit spending provides a benefit to society as a whole.

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