This special podcast looks at the latest global economic meltdown through the eyes of the economist John Kenneth Galbraith. His theme of themes, and his perpetual warning, was that a form of economic manic depression lies at the heart of modern capitalism.
Stephen Dunn, author of the forthcoming book The Economics of John Kenneth Galbraith, explains Galbraith's importance at difficult times like these and introduces him to a new generation of market speculators.
Before the latest market crash, as they set out to write their book, Unjust Rewards: Greed and Inequality in Britain Today, Guardian columnist Polly Toynbee and co-author David Walker wanted to make a case for a fairer system of taxation. The strongest argument for their position would come, ironically, from the very Masters of the Universe whom they interviewed.
Nick Watt, the Guardian's chief political correspondent, explains the political dimension of the latest market crash, how it changed the balance of power in Westminster, and its effect on the Labour party's odd love affair with the rich.
Galbraith constantly warned against volatility in the markets, its all-too-human causes and its destructive effects. Nils Pratley, financial editor of the Guardian, discusses the rationality of the markets.
Journalist Ian Jack talks about the human dimension of market crashes, and about the powerful emotions they leave behind.
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