A panel of journalists and economic experts discuss the nature of climbing U.S. debt, and consider where the next wave of economic growth will derive.
William Greider, a prominent political journalist and author, has been a reporter for more than 35 years for newspapers, magazines and television. Over the past two decades, he has persistently challenged mainstream thinking on economics.
For 17 years Greider was the National Affairs Editor at Rolling Stone magazine, where his investigation of the defense establishment began. He is a former assistant managing editor at the Washington Post, where he worked for fifteen years as a national correspondent, editor and columnist. While at the Post, he broke the story of how David Stockman, Ronald Reagan's budget director, grew disillusioned with supply-side economics and the budget deficits that policy caused, which still burden the American economy.
He is the author of the national bestsellers One World, Ready or Not, Secrets of the Temple and Who Will Tell The People. In the award-winning Secrets of the Temple, he offered a critique of the Federal Reserve system. Greider has also served as a correspondent for six Frontline documentaries on PBS, including "Return to Beirut," which won an Emmy in 1985.
Greider's most recent book is The Soul of Capitalism: Opening Paths to A Moral Economy. In it, he untangles the systemic mysteries of American capitalism, details its destructive collisions with society and demonstrates how people can achieve decisive influence to reform the system's structure and operating values.
Raised in Wyoming, Ohio, a suburb of Cincinnati, he graduated from Princeton University in 1958. He currently lives in Washington, DC.
Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971).
ISLET engages in research regarding domestic and international finance, national income and balance-sheet accounting with regard to real estate, and the economic history of the ancient Near East.
Michael acts as an economic advisor to governments worldwide including Iceland, Latvia and China on finance and tax law. He gives presentations on various topics at conferences and meetings and can be booked here. Listen to some of his many radio interviews to hear his hyperspeed analysis of the geo-political machinations of global economics. Travel costs and a per diem are appreciated.
Steve Keen is Professor of Economics & Finance at the University of Western Sydney, and author of the popular book Debunking Economics, a second edition of which has just been published (Zed Books UK, 2011; www.debunkingeconomics.com).
Steve predicted the financial crisis as long ago as December 2005, and warned that back in 1995 that a period of apparent stability could merely be “the calm before the storm”. His leading role as one of the tiny minority of economists to both foresee the crisis and warn of it was recognised by his peers when he received the Revere Award from the Real World Economics Review for being the economist who most cogently warned of the crisis, and whose work is most likely to prevent future crises.
He has over 60 academic publications on topics as diverse as financial instability, the money creation process, mathematical flaws in the conventional model of supply and demand, flaws in Marxian economics, the application of physics to economics, Islamic finance, and the role of chaos and complexity theory in economics. His work has been translated into Chinese, German and Russian.
In Debunking Economics, Steve let the general public in on a little-known secret: that many widely believed economic models have been shown by economists to be wrong—hence the subtitle to his book, “the naked emperor of the social sciences”.
This is emphatically the case with the so-called “Efficient Markets Hypothesis”, which still dominates academic thinking about finance today—even after the Global Financial Crisis. Since 1995, Steve’s main research focus has been the development an alternative, empirically grounded theory, known as the “Financial Instability Hypothesis”, which argues that finance markets are inherently unstable. Steve’s forthcoming book on this topic, Finance and Economic Breakdown, will be published by Edward Elgar (UK) in 2012.
From November 2006 till March 2010, he published Debtwatch, a monthly report which explains the dangers of excessive private debt. In March 2007, he started the blog Steve Keen’s Debtwatch, which now has over 13,000 members and more than 60,000 unique readers each month.
Steve’s excellent communication skills were honed in his pre-academic career, which included stints as a school librarian, education officer for an NGO, conference organizer, computer programmer, journalist for the computer press, and economic commentator for ABC Radio National and Radio Australia.
Monica Mehta is a sought after small business and finance expert with 15 years of hands-on experience as an investor, operator of multi-million dollar consumer businesses and advisor to hundreds of entrepreneurs.
Monica is currently a Managing Principal at Seventh Capital, a New York based investment firm. She is also a columnist for INC Magazine and Bloomberg BusinessWeek and frequent guest on Fox News, Fox Business, Bloomberg Television, ABC News and MSNBC. Her advice for small business owners has been covered by Forbes, Entrepreneur Magazine, The New York Times and recommended by The Small Business Administration and National Federation of Independent Business.
Monica’s first book The Entrepreneurial Instinct (McGraw-Hill | Sept 2012) explores the connection between behavior, brain science and entrepreneurial success. The book has received praise from the CEO Mastercard, former CEO Comp USA, former CEO Borders, The Wharton School, Dartmouth Tuck, INC Magazine, BloombergTV, MSNBC Your Business, among others.
Prior to her career as a principal investor, Monica worked closely with start up businesses as a portfolio manager at a seed-stage fund backed by the Texas Pacific Group, managed a $150MM cosmetics business unit for L’Oreal and advised Fortune 1000 companies, including Bank of America and Nordstrom, as a strategy consultant. She is a graduate of the Wharton School of the University of Pennsylvania.
Sherle R. Schwenninger
Sherle R. Schwenninger directs the New America Foundation's Economic Growth and American Strategy Programs. He is also founding director of the World Economic Roundtable, a program that brings together thought leaders from business, finance, and public policy in regular meetings to remap the global economy after the Great Recession. One of the founders of New America, he served as treasurer from 1999 to 2007 and also as director of the Bernard L. Schwartz Fellows Program.
Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.
Monica Mehta, author of "The Entrepreneurial Instinct," looks at how risk aversion and a lack of personal savings factor into starting up a small business. Mehta argues that low savings and risk averse behavior are hampering the American economy.