The Man who Invented "Too Big to Fail" Recants

Dr. Tom Palley, AFL-CIO & Author, From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics, joins Thom Hartmann. Austerity has taken out Greece - Spain and Italy - and now it's trying to destroy the United Kingdom's economy too. How can Americans prevent the great economy destroyer known as austerity from coming across the pond? Plus - the man who invented "too big to fail" recants on CNBC.


Mark Saulys's picture
Mark Saulys 5 years 11 weeks ago

Members of the Association of Ethical Economists, a rebel off shoot of the American Economics Association will tell you that economics is a religion not a science and economists a priesthood that sanctifies whatever political philosophy dominates. The current political fashion for austerity is a good example of this..