Seven Bad Ideas: How Mainstream Economists Have Damaged America and the World

Host Michelle Schroeder Fletcher speaks with Jeff Madrick about his new book "Seven Bad Ideas: How Mainstream Economists Have Damaged America and the World." Jeff Madrick is a former economics columnist for Harper's and The New York Review of Books. His books include Age of Greed, The End of Affluence and Taking America.

Madrick defines seven of the greatest false idols of modern economic theory, illustrating how these ideas have been damaging markets, infrastructure, and individual livelihoods for years, causing hundreds of billions of dollars of wasted investment, financial crises, poor and unequal public education, primitive public transportation, gross inequality of income and wealth and stagnating wages, and uncontrolled military spending.