Today's guest is Matt Klein, senior writer and economics commentator at Barron's. We discuss his new book with Michael Pettis, which argues that global imbalances are the result of rising inequality around the world. It's underconsumption theory at its most sophisticated. We ask him what implications this has for politics.
Plus, we welcome a new co-host: Chris Hong, a graduate student in history at the University of Chicago.
Matthew Klein on Twitter: @M_C_Klein
Matt Klein at Barron's: https://www.barrons.com/authors/8566
Buy the book here: https://www.amazon.com/Trade-Wars-Are-Class-International/dp/0300244177/
Review of Trade Wars are Class Wars: https://phenomenalworld.org/reviews/trade-wars
Elaboration by Yakov Feygin and Dominik Leusder: https://phenomenalworld.org/analysis/the-class-politics-of-the-dollar-system
Pettis on the limits to debt: https://carnegieendowment.org/chinafinancialmarkets/80054
Keynes on the "Economic Possibilities for Our Grandchildren" (pdf): https://assets.aspeninstitute.org/content/uploads/files/content/upload/Intro_and_Section_I.pdf