In this special edition of Smart Talk, Ed Dodson speaks with Professor Emeritus Edward J. Nell, Vice President of the Henry George School about his new book, Progress and Poverty in Economics – How Real Estate and Rents cause Financial Instability.

Professor Nell warns against the dangers of bloated finance and calls for its reconceptualization as a public good that supports the real economy rather than draining it. He argues that an over-sized financial sector not only causes systemic fragility, it also undermines growth prospects by diverting resources and talent away from the productive economy toward rent seeking activities.