Former Assistant Secretary to the US Treasury official Dr. Paul Craig Roberts is interviewed by King World News. in the light of the recent announcements in Greece, this is an interesting perspective and prediction.
Paul Craig Roberts (born April 3, 1939) is an American economist and blogger. He served as an assistant secretary of the treasury for economic policy in the Reagan administration. He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service.
He has written extensively on the effects of the neo-liberal economic policies pursued since the 1990s and about jobs-offshoring which he has strongly criticized. He has argued that these policies, favoring the financial services “industry” at the expense of other sectors of the economy, has eroded America’s industrial capacity and its workers’ skills and has sharply decreased upward social mobility. He has stated that these policies, which condemned American workers to low-paying unskilled jobs as the only jobs available, caused them to increase their net personal debt to maintain living standards and significantly contributed to the 2008 Global Financial Crisis. These positions are covered in greater detail in his book The Failure of Laissez-Faire Capitalism and the Economic Erosion of the West (2012).
During the 21st century, Roberts has frequently published in Counterpunch, writing extensively about the effects of the Bush (and later Obama) administrations related to the War on Terror, which he says have destroyed the U.S. Constitution’s protections of Americans’ civil liberties, such as habeas corpus and due process. He has taken positions different from former Republican allies, opposing the War on Drugs and the War on Terror, and criticizing Israel’s policies and actions against the Palestinians.
He has written or co-written 12 books, contributed chapters to numerous books, and published many articles in scholarly journals. His writings have also appeared in a variety of print and online publications worldwide.