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What "Progressive" Economists Miss about Capitalism | Clara Mattei & Panos Tsoukalis at Oxford
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April 8, 2026
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1:26:14Now PlayingAusterity isn't a policy mistake — it's how capitalism survives. And the economists who call themselves "progressive" may be hiding that truth more effectively than the ones they claim to oppose.
In this live talk at Oxford, economist Clara Mattei presents the core argument of her new book Escape from Capitalism — that austerity is not irrational, not a failure, and not going away, because capitalism cannot function without it. She traces how "pure economics" was born to crush working-class alternatives, how austerity keeps the majority market-dependent by design, and why even the most well-meaning reforms hit hard political limits under this system.
Recorded at a Rethinking Economics Oxford event, moderated by Panos Tsoukalis(PhD candidate in Politics at Oxford)
Includes audience Q&A.
In this talk:
Why austerity is rational for capitalism — and devastating for everyone else
How 19 people accumulated $2 trillion while US homelessness hit record highs
The real function of regressive taxation and social spending cuts
Why "progressive" economists depoliticize the economy more than their rivals
How inflation exposes the system's fragility — and triggers resistance
The Kalecki insight: full employment is technically possible but politically forbidden
What the COVID stimulus and Great Resignation revealed about wage labor
How FREE (Forum for Real Economic Emancipation) is building alternatives in Tulsa
Why capitalism is more fragile than it appears — and what that means for organizing
📖 Read Clara Mattei's new book Escape from Capitalism:
🎓 Rethinking Economics
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#ClaraMattei #EscapeFromCapitalism #Austerity #Capitalism #PoliticalEconomy #Oxford #RethinkingEconomics #FREEForum #Inequality #WorkingClass #EconomicDemocracy
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