The ‘bad ideas’ that broke American capitalism

Washington Post economics columnist Steven Pearlstein talks with Recode's Kara Swisher about his new book, "Can American Capitalism Survive?: Why Greed Is Not Good, Opportunity Is Not Equal, and Fairness Won’t Make Us Poor." In this episode: (01:57) Why Pearlstein wrote the book; (7:02) "We're not doing as well as we think we are."; (8:46) Is tech different from the rest of the economy?; (12:26) CEO salaries; (17:11) The "natural monopolies" of tech and how to break up Amazon; (23:07) Income inequality and the myth of "equal opportunity"; (28:27) Universal Basic Income and the middle class; (34:10) Why unions broke and how to reintroduce them; (38:38) Government is not the solution; (42:19) Treasury Secretary Steve Mnuchin, the corporate debt bubble and bitcoin; (46:37) The 2008 bank bailout, the estate tax, and California's tax system; (50:30) Immigration, socialism and the cost of college; (57:46) The environmental impact of economic growth, the rising deficit and Saudi money; (1:03:54) The power of shaming people on social media