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Ep 347 - Libertarianism vs. Reality with Brett Scott

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Manage episode 508720238 series 2809925
Content provided by Steven D Grumbine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Steven D Grumbine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Economic anthropologist Brett Scott, the author of Cloud Money, talks with Steve about libertarianism’s big lie. Or lies – plural.

From a class perspective, libertarianism is largely an ideological tool that protects elite power by promoting a false narrative of individualism and "free" markets. It serves as a smokescreen, concealing the mechanisms of power in a class society. What worse, it’s presented as neutral. As if all citizens are on an equal playing field. Market transactions replace the natural interdependence at the core of societies.

Brett and Steve look at leftwing alternatives, including the potential of mutual credit systems and alternative economies as counter-narratives to mainstream economic structures.

They also discuss libertarians' obsession with commodity money (like gold), which stems directly from their flawed view of society. They see money as a neutral tool for trade between independent agents. In reality, modern money is a credit system—a network of social promises and debts that reflects power dynamics.

Brett Scott is an author, journalist, and activist, who explores the intersections between money systems, finance, and digital technology. He’s the author of The Heretics Guide to Global Finance: Hacking the Future of Money. His latest book is Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets. Find more of his work at https://alteredstatesof.money/ or on Substack.

@Suitpossum on X

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301 episodes

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Manage episode 508720238 series 2809925
Content provided by Steven D Grumbine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Steven D Grumbine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Economic anthropologist Brett Scott, the author of Cloud Money, talks with Steve about libertarianism’s big lie. Or lies – plural.

From a class perspective, libertarianism is largely an ideological tool that protects elite power by promoting a false narrative of individualism and "free" markets. It serves as a smokescreen, concealing the mechanisms of power in a class society. What worse, it’s presented as neutral. As if all citizens are on an equal playing field. Market transactions replace the natural interdependence at the core of societies.

Brett and Steve look at leftwing alternatives, including the potential of mutual credit systems and alternative economies as counter-narratives to mainstream economic structures.

They also discuss libertarians' obsession with commodity money (like gold), which stems directly from their flawed view of society. They see money as a neutral tool for trade between independent agents. In reality, modern money is a credit system—a network of social promises and debts that reflects power dynamics.

Brett Scott is an author, journalist, and activist, who explores the intersections between money systems, finance, and digital technology. He’s the author of The Heretics Guide to Global Finance: Hacking the Future of Money. His latest book is Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets. Find more of his work at https://alteredstatesof.money/ or on Substack.

@Suitpossum on X

  continue reading

301 episodes

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