Sam and Emma host Kathryn Judge, Professor at Columbia Law School, to discuss her recent book Direct: The Rise of the Middleman Economy and the Power of Going to the Source. Emma and Sam first tackle Trader Joe’s union-busting, GOP-backed AIPAC money dumps, Russia’s bombing of Odessa, and discuss Ted Cruz’s and Matt Gaetz’s Turning Point appearances. Then, Professor Kathryn Judge joins as she dives right into walking Sam and Emma through the appearance of the “middleman economy,” beginning with what it is today – seen in retail giants like Walmart and Amazon and banks like JP Morgan and Citi – before jumping back to the beginnings of the neoliberal era’s deregulation. Starting with the banking sector, Professor Judge explores how this deregulation was preceded by an era of local banking, grounded in community investment and growth, before the mass dismantling of the regulatory state, coming to a climax with the joining of investment and commercial banking, saw a consolidation of the world of finance into 4-6 banks, and a shift from concrete interpersonal investing to data-driven and obscure and hyper-complex chains of investment. Sam then moves the conversation into the realm of anti-trust, as the Professor centers anti-trust’s failure to address the need for resilient systems that can genuinely hold up production and supply in the face of shocks, and the importance of small businesses and direct supply lines in bolstering these industries, before shifting beyond the realms of retail and banking, diving into how the middleman economy played a central role in 2008’s housing crisis (and the one we find ourselves in today) and how it extracts massive amounts of wealth from our healthcare infrastructure. Wrapping up the interview, Kathryne Judge, Emma, and Sam expand on the state of the middleman economy today, assess the role it has in our inflation “crisis” and how the FED fails to deal with it.
And in the Fun Half, Sam and Emma break down Ben Shapiro’s preposterous argument on Twitter that gay marriage is “unconstitutional,” Glenn Greenwald tells the Vanguard why he is, in no uncertain terms, NOT Dave Rubin, and Arizona troll and general moron Ethan Schmidt answers the question: “What’s the most humiliating way to get kicked out of a PetSmart?” Plus, your calls and IM’s!
Check out Kathryn’s book here: https://www.harperbusiness.com/book/9780063041974/Direct-Kathryn-Judge/
Subscribe to the AMQuickie newsletter here: https://am-quickie.ghost.io/
Join the Majority Report Discord! http://majoritydiscord.com/
Get all your MR merch at our store: https://shop.majorityreportradio.com/
Get the free Majority Report App!: http://majority.fm/app
Check out today’s sponsors:
ZBiotics: Go to https://thld.co/zbiotics_
Cozy Earth: One out of three Americans report being sleep deprived, and their sheets could be the problem. Luckily Cozy Earth provides the SOFTEST, MOST LUXURIOUS and BEST-TEMPERATURE REGULATING sheets. Cozy Earth has been featured on Oprah’s Most Favorite Things List Four Years in a Row! Made from super soft viscose from bamboo, Cozy Earth Sheets breathe so you sleep at the perfect temperature all year round. And for a limited time, SAVE 35% on Cozy Earth Bedding. Go to https://cozyearth.com/and enter my special promo code MAJORITY at checkout to SAVE 35% now.
Follow the Majority Report crew on Twitter:
Check out Matt’s show, Left Reckoning, on Youtube, and subscribe on Patreon! https://www.patreon.com/leftreckoning
Subscribe to Discourse Blog, a newsletter and website for progressive essays and related fun partly run by AM Quickie writer Jack Crosbie. https://discourseblog.com/
Check out the Valley Labor Report with Jacob here: https://mobile.twitter.com/LaborReporters
Check out Haeden Wright’s Twitter account for Coal LLC “applications”: https://twitter.com/HaedenWright
Check out the Scottsboro Starbucks Union Relief Fund here: https://mobile.twitter.com/sbwunitedbham
The Majority Report with Sam Seder – https://majorityreportradio.com/