Click here to read full article
On Thursday, dueling visions of capitalism and finance clashed in a Senate Banking Committee hearing focused on the racial wealth gap.
The event, titled “Wall Street vs. Workers: How the Financial System Hurts Workers and Widens the Racial Wealth Gap,” offered a clear message from the Democratic senators who framed it: capitalism is failing marginalized Americans and our financial system furthers systemic oppression.
This was clear from the testimony of New School economist Darrick Hamilton, called to testify by Democrats on the Committee, who argued exactly this point.
Hamilton called for massive government interventions into the economy, such as guaranteed …