Alternative Visions - The Failure of Mainstream Economics - 01/16/13

Dr. Jack Rasmus discusses why mainstream economists have failed in recent years to accurately forecast the course of the US and global economies—first missing predictions of the financial crash of 2008, then forecasting a rapid recovery that didn’t materialize, and now once again claiming the US economy is about to ‘take off’ in a full recovery in 2013. Unlike mainstream academic economists, Dr. Rasmus has been predicting a continuing ‘bumping along the bottom’ for the US economy at best, and, should US deficit cutting become severe in 2013 and the global economy continue to slowly slip into recession from Japan to Germany, as it now is, the ‘recovery’ could be worse than a best case ‘bumping along the bottom’. Jack introduces his guest, Zoltan Zigedy, to discuss these and other related topics. Zoltan Zigedy is the nom de plume of Greg Godels, a US based activist in the Communist movement who left the academic world many years ago with an uncompleted PhD thesis in Philosophy. He writes regularly on his blog, ZZ's blog, and on Marxism-Leninism Today. His writings have been published internationally in Cuba, Greece, Italy, Canada, UK, Argentina, Ireland, Singapore and Ukraine.He writes often on Marxist political economy and the current global crisis.