Thomas Palley, the former Bernard L. Schwartz Economic Growth fellow at the New America Foundation and former assistant director of public policy at the AFL-CIO, joined us here today at the federation to discuss his new book, From Financial Crisis to Stagnation: The Destruction of Shared Prosperity and the Role of Economics. The event is the third in the AFL-CIO summer book series, which includes discussions with noted economists who will talk about their new books on jobs, inequality and the U.S. financial crisis. (Get details and RSVP here.)

In his new book, Palley sets out to explain the cause of the 2008 financial crisis and what can be done to prevent another economic collapse. Here is a Q and A with the author:

A group of 50 financial professionals—investors, traders, academics and banking executives—urged G-20 and European leaders to back small financial transaction taxes (FTTs) on financial industry speculation.    

In a letter to world leaders, the group notes that FTTs “have a proven track record” and would help rebalance financial markets away from “a short-term trading mentality that has contributed to instability in our financial markets.” It also says FTTs have the potential to raise significant revenue.

If there was a “truth in labeling law” for congressional legislation, a series of Republican bills aimed at repealing last year’s landmark Dodd-Frank Wall Street reform law would be facing felony charges, AFL-CIO Policy Director Damon Silvers told a congressional hearing today.