It takes someone who actually experienced central planning (in 1970s/1980s India) to offer a proper counter-critic to the choir of mainstream critics of 'neoliberalism' 👌

@jmanakajosh9354

Ай бұрын

No. Actually. We have nothing in common wirh India. We have to contend with China which is willing to have hidden debt vehicles & moneyprinting.

@tomasfontes3616

Ай бұрын

@@jmanakajosh9354 China also abandoned central planning in the late 70s/early 80s. They got rich largely with free markets/letting Western capital in. Now they're back into a more mixed economy, because they want to be more than a regional power. But this is only *after* they became rich.

And what about boards bonusing themselves with bailout money? They should be in jail for misappropriation of funds.

The best response to this back and forth at 38:00 - 41:00 is the Damon Silvers talks on Neoliberalism giving at UCL. The first talk is titled "Understanding Neoliberalism as a System of Power".

The only problem I have with a “meritocracy” is if the system itself is corrupt.

We need an interview with an author who analysed prominent fed chairman and their actions to get a good understanding of economic governance.

@jmanakajosh9354

Ай бұрын

All you need is John William 2018 "Monetary Policy in a low-neutral interest rate world" it explains everything.

Hey Marshall what role does federalism play in these industrial priorities? Green Transition a matter left to the states? Chips Act a federal matter?

MMT LEFTY: pulling their hair out

@jmanakajosh9354

Ай бұрын

When you old people croak yourselves on your budget cuts don't be upset when you run out of votes.

Lesson for BJP Led NDA too, BJP says Minimum Government and Maximum Governance but on ground they do not follow it, Ruchir is very right when he says that Capitalism can survive and remain healthy only when Government intervention is minimal and when Government provides and maintains an ecosystem

I think the productivity gains if capitalism are not reaching everyone. I see three problems:- a) Not everyone is doing high productivity jobs. Many still work long hours for low wages. Instead, if people worked less hours using machines instead of manual labour, to earn the same wages, then that is still worth it. b) Those who are in high productivity jobs, work long hours with high wages, but poor work-life balance. I wish we could equalize this. By having more people work fewer hours of high productivity jobs. c) Most of the profits if productivity, stay with companies, who just fire their employees after the jib is done, and no more work is there. So, everyone should own shares of all profitable companies, to share the gains, because they too contributed to thise companies. In this way, production could be high enough to meet everyone's needs, and people would have enough earnings to buy the goods and services they need.

Capitalism is being eaten alive by Technofeudalism. 😂

@jmanakajosh9354

Ай бұрын

Amen! The fact that he did not bring up that Silicon Valley said they didn't need to be regulated and then went belly up....and we're like "oh why did we bail them out?". Hello? Congress wasn't even involved?

This guy realizes that people are unhappy with the unfettered free market capitalism of today, and proposes that we just need free-er markets? Malarkey.

@drockopotamus1

Ай бұрын

It's not that complicated to recognize that certain types of regulation can hinder competition.

@scottduncan92

Ай бұрын

@@drockopotamus1 I don't disagree, but the solution to "too many bad regulations" should not be no regulations and no government intervention in the economy.

@eriklondon2946

Ай бұрын

@@scottduncan92 Completely disagree. Regulation is paid for, written up by and made for the Mega corporations. We haven't had a more true "free market capitalism" since 1880-1913. Look up *All-in Summit: Bill Gurley presents 2,851 Miles* 1913 being the year that we implemented the Marxist ideology of a Central Bank, and stole the value of people's dollar away. This exploded in 1971 with breaking the connection of Gold and USD, the same year employees started making way less than their companies and as Ruchir says the quantity of lawyers started jumping up.

@rohitroll2119

Ай бұрын

Why?​@@scottduncan92

@BMoore335

Ай бұрын

It’s not that complicated to recognize that the police military state and bureaucracy exists to protect the meritocracy’s status, and therefore will never be challenged and simply be reinforced through any number of interventions.