Stephen Hawking: Greed and Stupidity Will End Humanity Earlier than Expected

@IndiaAniya25

5 жыл бұрын

I would say greed and unmanaged ego. People do not want tonor like to admit where the mess up. Most people do not want to give up their status. Regardless of how potentially harmful it is to the whole. Ego gets in the way everytime.

@dwarvenpepperoninipples

5 жыл бұрын

@@IndiaAniya25 So you're saying we need to kill the billionaires'...egos? How do we sneak massive amounts of LSD into their food?

@IndiaAniya25

5 жыл бұрын

@@dwarvenpepperoninipples no. The ego's of everyone has to be controlled. The masses won't even believe that we are being poisoned. Why? Their ego won't allow them to go against the bullshit they have been conditioned to believe.

@irenenabizadeh6802

5 жыл бұрын

Maybe not the entire humanity but definitely the American Empire!

@adiposerex5150

5 жыл бұрын

It is well deserved.

Amy Goodman is my hero! Even when interviewing an economist critical of the American economic system, she still has the courage to ask something you'd never hear on mainstream TV: "Hasn't capitalism always done that?" (7:10) and the answer brings Stiglitz's entire argument into focus. Brilliant work done by a true professional!

@tolethom

Жыл бұрын

flawless moment

The main issue as I see it is the positive feedback loop that is part of capitalism. The more money you have the easier it is to make more money. It also doesn't help that the feedback effect often can be amplified by doing things that goes against the publics interests, or even at the expense of humanity itself in the case of the environment for instance.

@cliffgaither

Жыл бұрын

Thomas Ivesdal-Thonstad ■ The more complexed capitalism becomes ; the more avenues It travels ; the different, divergent meanings ... the more _confused_ I become ! Chomsky said that Democracy & Capitalism cannot co-exist ! Sticklitz has written a book about _Progressive_ Capitalism. Following Chomsky, can Progressive Politics co-exist with Capitalism ? Your main issue ( about the _positive_ feedback loop and the explanation that the results can be _negative_ ), makes perfect sense and was very-well written ! Sticklitz has connections with The World Bank ! That doesn't look too good on any Resume. Chomsky is ... well ... we all know Chomsky ! Your position is much-closer to Chomsky ! ... therefore ... _Confusion, Clarified !_ _Thanks !_

I hope to see Democracy Now interview the economist Richard Wolff.

@dscully1808

5 жыл бұрын

Why? So, he can fill your head with more nonsense. Precious, economics has nothing to do with political policies or systems of government. There is nothing that he can tell you that will help you to understand what is going on in the world and what needs to be done to fix it. Political problems require political solutions, and economics don't study politics, governments, or political policies.

@RevolutionaryOpitimism

5 жыл бұрын

@@dscully1808 You're such a fuking troll... "economics has nothing to do with political policies" Are you living under a rock? I'm not even going to address that because you are just fucking with us, clearly. "Nothing that he can tell us that will help us understand whats going on in the world and what needs to be done"... you obviously haven't watch many of his videos because he DOES in fact talk about whats going on in the world and he does propose solutions. I'm always so curious about you people's lives.. Like are you really just a 15 year old boy with nothing better to do than to troll the comments section? Or are you an ordinary person thinking they are helping somehow, by stating things you falsely believe as fact? The only reason I'm replying to your nonsense is because I would prefer your nonsense doesn't go unchecked when someone else has to read it.

@ReggieMeisler

4 жыл бұрын

D Scully is a classic right winger: “silly prole, Democracy is for rich people”

40 years!?! Oh that's HILARIOUS. It's always relied on slave labor, from the very start. Capitalism has been working just fine, doing what it does. Why does everybody insist on sticking their head in the sand and pretending WHAT IS ACTUALLY HAPPENING RIGHT IN FRONT OF YOUR EYES is somehow impossible? Everybody is still the legal property of their leaders, being allowed to live in the leaders kindom, on the leaders land, growing the leaders food. We are all serfs, as our parents and grandparents were before us. Some of the wording just got changed around. We have zero rights, if you're lucky you'll get some privileges. How many years has it been? Where's that invisible hand that would keep everything cool? When is that trickling down supposed to happen? Because a couple entire generations have gone by with nothing changing. Huge numbers of people starving to death or getting blown up, so a couple asshats can wave their dicks at each other. Way to go people, just as dumb as your parents and grandparents. Edit:I respect this channel for it's level headed approach to everything, so I almost don't want to use such strong language. Almost. It's already heavily censored though, trust me. I feel it's acceptable in today's political climate, and I'm not singling anybody out. I think it's everybody's fault. Right, left, rich, poor. Stupidity doesn't seem to have a type.

CEO of Nintendo cut his own salary during the WiiU period to keep as many staff as possible... but not US

@Nine-Signs

5 жыл бұрын

well done CEO, he has some ethics and morality about him. But there are better ways. :o) armyofall.wordpress.com/democracy/

Capitalism can only work one way, and it is inevitable that it will collapse in the end. We shouldn't wait for it to happen. We should be dealing with how to make the changes required for a new system of survival.

@sofiashums7327

5 жыл бұрын

You have written this with firm conviction. How about following this with a suggestion from me. Read The Qur'an ( you won't need to learn Classical Arabic to do this. Read a translation in English that is as close to the literal meaning as possible of the original Arabic). It suggests a definite way out of the social and economic mess that Capitalism has got us into. In brief, the suggestion for Muslins / believers is to "willingly" share their wealth with others in need around us. In fact, charity is given the same status as the mandatory prayers to the Creator in The Qur'an. Happy reading !

@dscully1808

5 жыл бұрын

Um, none of the economic theories can work. They are all unproven. An economists would have needed to collect empirical evidence to support any of the theories, and they never have. There are no corresponding set of political policies that go alongside economic theories. There never has been. They are merely unproven ideas. There is no capitalism. You can't stop it or replace it. There are these things called governments. The kind of government in a country entirely determines the quality of life for the people in the country, and you can't use economic theories to build governments.

I really love your program! Very informative. No BS banter. Just the facts. Thank you!

That's because capitalism only works if you dont play by the rules ( pay taxes,insider trading and other economic rules and laws.) .

@ReturnOfTheJ.D.

5 жыл бұрын

That doesn't work when the governments start running out of money - they just change the rules then, to get more from those evading paying them. The problem is, in the past, wages were high, so the tax paid on those high incomes was enough to cover costs. But as wages have barely kept pace with inflation, taxing the working man doesn't produce the revenue the government need anymore. As a result, they are going broke. That is now forcing the government to clamp down on the loopholes that funnel the cash to the business owners, or they can't afford to pay for all the services the population demand.

If we don't do something with socialism. The 1% will literally have all the money, In just a few years. (Exponential growth). What good will that do for them. Might as well own the printing press.

@grmpEqweer

5 жыл бұрын

Excessive wealth at the top actually seems to lead to boom-bust cycles.

@tracemiller7386

2 жыл бұрын

That's exactly right, and the 1% have stated that if you try to tax them, they will skip country. Stating that they have bought multiple citenships. Exit tax, and good riddance.

What's next 'cuddly faschism'

There is something to be said about creating too much wealth for yourself. Sure we’ve all heard the stories of lottery winners that have lost it all in just a year, or people that have inherited fortunes and didn’t know how to handle it either. But the real problem comes when you acquire so much wealth that you can’t keep track of it all. You find you require other people to handle the accounting; and you will lose money just from so many other hungry pockets. But, the really big problems come when you create so much wealth that you begin to invest in so many ventures, and can’t keep track of that either. At some point, whether you realize it or not you will be hedging most or all bets on the table and it is exactly at that moment when owning that much wealth will begin to become self-defeating. The final culmination occurs when you find yourself gambling your last chip just to retain your last stitch of wealth, Not that it may have been noticeable at the lower levels of wealth... does anyone ever notice until it’s too late. Now imagine the POOR that have NOTHING to lose and are PREPARED to do ANYTHING just to SURVIVE EVERYDAY

Progressive Capitalism... Don't know if I want to know where it's progressing to if the goal is still to maximise profits.

@henrirauhala4335

5 жыл бұрын

The whole concept is a joke at this point. Capitalism was a progressive social and economic system in the 19th century and before. Since then it has mostly been about monopolization and financialization, leading to endless imperalist wars, both world wars included. If you want progress, socialism is the only answer.

Not a single word about worker or community ownership. Very disappointing. It would have been great if Goodman or Gonzalez had confronted him on that. Just more shit about "giving" things to the workers. Those who work in an enterprise and the community in which that enterprise is situated should be the ones who own it and manage it, not people whose sole contribution is owning shares with no labor input and no responsibility or liability for those who actually produce the wealth and who depend on it.

@MM-rr5bh

5 жыл бұрын

Bill thank you! Seriously disappointed with this conversation, I expect so much more from DN.

@julianoqueral8537

4 жыл бұрын

🤣🤣🤣🤣🤣🤣 loser

I had a friend who worked at Disney near Paris. His working conditions and pay were almost slave wages or indentured servants. So by the time fines were imposed for the most trivial things. Workers were told a mistake had been made and that the workers would have a reimbursement next month. Can you imagine the extent and amount of Disney's accredited and accumulation of interest would have on it's share price. Money all the way. Workers had to pay upfront for their own accommodation and meals and so, unable to continue many left before their first season had finished. No refunds available because of their contracts. American dream ? More like a nightmare. No wonder he had t

i agree capitalism needs to change to make it work for more the people. There is too much power in the corporate world and wealthy top earners. The people who have the power and wealth need to help make this change, remember the people in middle and lower economic groups do not have enough wealth, power to make those changes alone.

@rogbrogb7537

5 жыл бұрын

The question is "Who should rule?" The 1%, or the majority? The majority can't make effective decisions about the economy if they don't OWN it. That's why Socialism. In fact, please search Einstein's 8 page "Why Socialism" , not a hard read. Then, if you have time, I recommend Lenin's "State and Revolution", and "What is to Be Done?"

Thank you

Amazon nor Google paid taxes last year? one must pause...

You can thank US corporations for China’s growth, if there wasn’t outsourcing I strongly doubt China wouldn’t be the great economic power it is today.

@dorothybennington

5 жыл бұрын

Fluffy Bunny Agree. I think people forget sometimes. Chinese people need to eat too.

@david50665

5 жыл бұрын

so china is the enemy? and china must be kept in its place as weak backward country? wake up!...your enemy is not china but the economic system which takes all the wealth that is created (alot of which were created by the help of china) into the hands of the few. The wealth inequality in the USA has reached back to feudal levels

@gracieallen8285

5 жыл бұрын

You both missed my point. China probably would have grown on its own, but China owes its fast pace of growth to American manufacturing. And the laborers in the US can blame US manufacturing for their poor economic situation. If manufacturing/corporations wouldn’t have outsourced jobs to China ....

@awesomedavid2012

3 жыл бұрын

You can thank the US government for forcing companies to outsource to China. If they made businesses more profitable in the US than in China companies would be here.

@gracieallen8285

3 жыл бұрын

@@dorothybennington that’s not how I meant my original comment. US corporations are responsible for outsourcing American jobs, and in doing so they are responsible for China's economic growth.

Exactly corporations are not for people. They don’t have the public’s interest at heart. So the public doesn’t need them anymore. We can’t afford to live how they want. Public needs to get strategic. Enough taxes going to things that don’t fully support the public’s interest.

Excellent talk

WTF "Capitalism Working For The People" - did it ever?

@mrfuzztone

5 жыл бұрын

Capitalism was working a lot better for the people from the 1940's to the 1970's Stiglitz has good doable ideas on improving the financial system and reducing income inequality. Don't get hung up on the labels. Same with Bernie Sanders. Hear what he has to say. Don't focus on labels attached to him.

@mrfuzztone

5 жыл бұрын

@Peace Be Upon Me Has little to do with being lazy. I am doing pretty well. I can see that there is a huge problem with income inequality. The Disney heir stated pretty clearly that there is a problem. I doubt she is worrying about her personal wealth. The facts are that executives are taking 10X more in pay than they did in the late 70's. They aren't doing more. It is a clever racket. www.forbes.com/sites/stevedenning/2011/11/28/maximizing-shareholder-value-the-dumbest-idea-in-the-world/#117b1a122287

@huehuecoyotl2

5 жыл бұрын

@Peace Be Upon Me There's a legion of people who work their ass off in jobs in capitalist enterprises, but yet get paid shit. The only sure fire way to get paid what your worth is to own and run your own business, either individually or collectively. Anyone who doesn't have ownership or control is just a cog that can be replaced. Fancier cogs (like say programmers or nurses) can get more grease, but no one is irreplaceable, and all cogs eventually wear out.

@jakejoker1988

4 жыл бұрын

@Alset Alokin What exactly are you good for? You realize you are ultimately completely worthless as you can easily be replaced by someone else right? If you died today you think your boss couldn't easily replace your ass? You honestly think you are valuable?

My dad once said to me "No CEO should be paid more than 3 million a year. All they do is sit around in meetings." Capitalism isn't bad but not the way it's being practiced today.

@bobknight33

5 жыл бұрын

The Great depression was the fault of the Federal Reserve banking system NOT Capitalism. NAFTA and other trade deals sold out American jobs to cheaper world labor. Capitalism did not fail Americans politicians failed Americans.

@RevolutionaryOpitimism

5 жыл бұрын

@@bobknight33 ...politicians who are bought and sold by capitalists. If you think for a moment that corporations didn't support NAFTA your kidding yourself. Capitalism isn't your God. Stop defending it's failures.

As an economist I believe that leading economists such as Stiglitz and others at his level of knowledge and influence have done a very poor job at separating what belongs to economics as a science and what does not belong and, therefore, they have done a poor job at explaining to the ordinary citizen who is to blame for their unjust situation. For example, he mentions that antitrust laws were passed to stop monopoly power in the U.S. at the end of the 1800s. Here, it is easy to realize that economics as a science has limitations in terms of forcing society to follow what economic theory suggests to have a successful economy and society. However, economists do not pass laws, lawmakers do and this is crucially important to understand. Lawmakers are not, in their vast majority, economists so, in their ignorance or ill will, they pass laws that attempt against the wellbeing of the vast majority in order to satisfy the whims of the wealthy elite. At the end this means that wealthy people force the government pass laws that favor them, not the country. As a consequence of doing this over and over we observe today the huge income and wealth inequality in the U.S. In addition, I believe that economists in the level of influence of Stiglitz have misled the public causing a huge confusion that in no way clear things up. For example, he keeps talking about capitalism, progressive capitalism, state capitalism in China as if capitalism as a concept encompasses everything and that is far from the truth. I am really tired about listening to the Capitalism-Socialism (communism) dichotomy when, in fact, such a dichotomy does not exist. This dichotomy is a made up lie to keep people in the shade of ignorance. The concept capitalism in general refers to the use of capital in production and to the accumulation of capital along the way to keep the production process growing. From this perspective ALL societies are capitalist as no society cannot produce if it does not use any type of machinery and infrastructure in its production process. So, what is the real issue that leads to inequality? This is easy to answer and has nothing to do with economics but with moral values and ultimately with the legal framework of a country. For example, we know from evidence shown by Stiglitz that difference in pay was 30 times in the seventies and now is 300 on average. Is that the result of the economic process? Not at all. That change and worsening in this difference is the result of low morals (greed) and lack of a law that prohibits those differences. Do you see now what I meant at the beginning of this post? Economics as a science can only do so much to shed light on issues. However, decisions on how to direct the economy and the economic relations among members of the society are made by the lawmakers and enforced by the executive branch. One last note. There is no such a thing as socialism or capitalism. The reality is that there are countries where private property and market relations are allowed and there are countries that try to suppress that. Those countries either have a strong state sector or have a very controlled economic activity all over their countries. And, the real dichotomy is always those few in power exploiting the rest of the population and that happens in countries that call themselves either capitalist or socialist. So, the real dichotomy is exploitators vs exploited or oppressors vs oppressed. There is no other dichotomy in the world.

Where is the 2nd part of this interview ?

Interesting interview. Its pretty clear that the last 30 years the Chinese model (and governance) has been far more succesful in bringing increased income equality to the poor and middle class then the western model. Highlights the importance of the state and its role in the economy. But given our democratic model its the people/workers that have to push back and fight for more like the teachers did just recently. Surprised it hasnt inspired other groups to do the same.

@Vn-no4fv

2 жыл бұрын

China’s economic power won’t last

This has been going on for a long time

Abigail Disney has an inherited net worth of more than $500 million. It's a bit rich she criticises executive pay leading to inequality. Perhaps an "unearned wealth" tax would be more effective social leveller.

@APaleDot

5 жыл бұрын

I'm pretty sure she _does_ advocate for estate taxes like you mention. It really shows her integrity that she is willing to fight for the poor, even though it may be against her financial interest, because she believes it is right.

The problem with wealth and Americans is that, amassing as much wealth and keeping it all to yourself ( selfishness) is encouraged, after all this is a Nation built on free labour (Slavery ) and land grab. There is something so selfish about the so called American exceptionalism.

As long as money is the benefit you will always have corruption. We need a new system that allows all to benefit equally for basic needs.

sound like this guy haven't been through Capital, though he does subscribe to the neo-keynesian school of economics according to wikipedia so i'd say it's about time he dived into anti-capitalist economics

Ah Joseph, always well intentioned, but always wrong. Believing regulations can make capitalism compliant with democracy and provide an equitable life for all, with any permanence, is the mark of either a fool who wishes to repeat the same mistakes expecting a different outcome, or a wolf in sheep's clothing.

Is it even possible to make a Capitalist society that helps those with disabilities? That's always been my question, and few answer.

A percentage for us and multiple times for them, this is bad for our country.

No such thing as a "progressive" capitalism....

@mrfuzztone

5 жыл бұрын

Read the book and see what he has to say. Joseph Stiglitz is a smart and good guy.

@ConsciousnessisRough

5 жыл бұрын

"A smart guy" Where was this book 20 years ago when Clinton was destroying the welfare system? He should have seen the result, many others did.

@mrfuzztone

5 жыл бұрын

@@ConsciousnessisRough Joseph Stiglitz was not the president. He was a top adviser. Stiglitz didn't make or condone the decisions to enact the policies that you correctly state were detrimental. He also did not condone the repeal of the Glass Steagall Act. Clinton did not follow a lot of advice given to him by Joseph Stiglitz and Robert Reich. Now it is 2019 and an election in 2020. Stiglitz has written the book to try to do the right thing for the American people.

@tylermoore8370

5 жыл бұрын

All capitalism is progressive, in the sense that it progressively gets worse. But, in all seriousness, I think people equate democratic socialism with 'progressive capitalism'. The 'free market' exists, private industry too, and functions as predicted, but there's also tons of public welfare programs.

@dscully1808

5 жыл бұрын

There's actually no such thing as capitalism. It's just an unproven theory.

As brilliant as Joe Stiglitz is, it is hard to get around the fact that the foundational principles of capitalism are fallacies: 1. Growth. There are upper limits to everything. Hitting a max then crashing cannot be papered over by calling it "creative destruction". What is wrong with a steady state company? Having a neighborhood hardware store on the corner where you know the clerks and they know you, is not such a bad thing. 2. Competition. You let it play out, and every time this leads to monopolies and oligopolies. Doesn't matter if it is the 1890's with railroads and steel, or if it is the 1990's and the rise of internet companies. When external regulation from government is needed and applied it is no longer pure capitalism. Besides, corporations use lobbyists to write the laws in their favor, and to water down and do end runs around the regulations. And what government is there to regulate multinational corporations? 3. Rational Consumer: Are you kidding? we as consumers get lied to and conned all the time. How can we rationally compare products, when so much of what the product is, how it was made, what it's reliability is, is hidden from us. We get duped every time. 4. Profit and efficiency are the primary purposes of a corporation (Greed is Good.) Need I say more. 200 years ago, corporations were chartered with a clear intent that served the well-being of the peoples and of the nation. That needs to be made explicit in corporate law again. 5. Externalization of Cost. This is the root of most of our ecological crises. Who is the primary perpetrator putting CO2 into the atmosphere, dumping plastics and single use items into to oceans until whole species near extinction with bellies full of indigestible garbage, and lacing our soils, waterways, oceans, and our bodies with man-made chemicals with unknown effects? The corporations don't want to pay for byproducts or waste products. And they don't. There is a movement afoot called the Circular Economy, being developed in China and Europe to close the loop on the "industrial cycle". But it is wicked difficult to do, and costly. And again that is a hybird economy, not pure capitalism. And so it goes.

@bradleysmith681

5 жыл бұрын

Everyone one of your points is correct and excellent.. Well stated!!

@bradleysmith681

5 жыл бұрын

Amd let's not forget that anti-trust laws were created to prevent companies and corporations from gaining too much political power.. The whole concept of anti-trust now has become a joke.

@dscully1808

5 жыл бұрын

Economics is only a theoretical field. You don't prove theories by believing in the m with religious devotion or by debating them. Theories are proven through empirical evidence. There has never been any evidence to back up economic theories. You really aren't even supposed to bring them into the discussion of governments or political policies. Economists aren't the ones who study economic policies. Political scientists study economic policies.

@elarakamai

5 жыл бұрын

@@dscully1808 you may have misunderstood the post, it was about observed economic behavior. The stated principles are not theoretic and the post was not about proving or disproving a theoretic. It was directed at flaws in the process as it is practiced.

@dscully1808

5 жыл бұрын

@@elarakamai No, I did not misunderstand the post. Your post was about how your believe that there or economic forces at work. Economists have never proven that there are any such thing. Economic systems are not a thing in and of themselves. They are not an independent thing with its own "forces" or "behaviors". Political policies distribute money in society. The investment made by that money determines what development that is or isn't. The way the power is distributed determines where the money goes. You've been misled into believing that there is a separate thing called an economy that has its own forces. There absolutely is NOT anything like that. People who have a middle schoolers education or better in civics understand this. There were definitely pieces left out of your education. There are no actual flaws. You learn that too by studying governments. Rightist policies effective create the conditions necessary for authoritarian governments. Leftist policies effective create the conditions necessary for stable democracies. Leftist policies destroy/destabilized authoritarian governments. Rightist policies destroy/destabilize democracies. When political policies are implemented that increase poverty, transfer wealth to those who already have wealth, allow the powerful to prey upon the poor and the powerless, free the powerful from having to experiences punishment for their actions, etc. it creates a country where the citizens are poor and ignorant. This is done on purpose, because it stabilizes authoritarian governments. There is no special economic force. There is only political policies. There is no reason to consider economic theories. You've mistakenly believed that economists have proven economic theories when they have not. They are merely theoretical concepts. Fantasizing about them is no different than fantasizing about the number of angels that fit on the head of a pin. Yes, you can imagine them and all of the things they could do in your imagination, but believing in them and needing them to be real is delusional. If you can't tell the difference between something real and something of the imagination, that's a real problem.

Corruption prevails in America. America is no dream country for the law abiding citizen.

Workers are hurting because all jobs moved to China where it is easier and cheaper to run a business. We are stuck with a service economy based on government debt.

I just saw PepsiCo is suing some small indian farmers who grow potatoes that are "supposed" to be only for Lays potato chips..(pepsiCo/Lays is same company) .That truly is appalling, how sick and greedy can u be, to prevent poor indian farmers from growing potatoes IN THEIR OWN F'IN COUNTRY!

Disney employs 64,000 people. If we took half of Bob Iger’s salary of $65mil, it would come out to $32.5mil. If we divided that evenly amongst the 64k employees, each one would get $507.81 a year. Obviously it wouldn’t be divided up evenly because because of different staff positions and responsibilities but with that many employees, her(Abigail Disney) doesn’t seem to be accurate in regards to lifting people out of poverty. Does it?

It's 300 to 1 because Americans are too busy with football, baseball, Dances with the Stars.

Joseph Stiglitz noo it's Hugo Stiglitz from Inglorious Bastards

UNregulated "markets" always lead to consolidation and monopoly, duopoly, etc.

Until few years ago the standard discrepancy yardstick was Hitler's Germany where the high to low salary ratio within a company reached about 400:1. Looks like we've surpassed that yardstick. Brilliant.

I make 48K per year and my taxes increased by $1,200 for my 2018 taxes and i already hsve $50 extra per pay check taken out...

...and during that period DIS stock price was sideways.

yeh yeh and americans will continue to vote for politicians that tell them whats good for the rich is good for them . capitalism is worshiped as a god

who owns Wash post?

The tax system is an incentive to grow wealth and debt--growing valuable services. The problem is that no one is educated about finance, and people are penalized for not growing wealth, aka the income tax.

It makes sense that people that need more skill to do their work and that have more responsibility are paid more. But I don't think that, or anything, justifies these absurd wage discrepancies. I struggle to understand 10/1, let alone 300/1. And don't start with meritocracy, it doesn't exist, there's to many random factors, and no merit justifies that someone can own an island while others can't make ends meet.

Surgeons are always profesionals? Horse shit. Most malpractice s never litigated or challenged.

Why is Capitalism bad? Because every part of the system motivates workers and bosses to think of only themselves and encourages greed ON EVERY LEVEL. What happens when we have everything and forced to look at QUALITY of life verses making cheap goods to make few people rich and give everyone else goods that they can't afford or replace when it breaks. Every level. Food systems must be localized, health care systems need to research basic health practices that revolved around daily healthy instead on dangerous one pill miracle drugs with deadly side-effects, technology stresses PROGRESS over the effect that technology has on society. What is automation good for in a world where we have everything we need. It is all broken and needs rebirth. There is no healthy greed. There is no progressive capitalism. That shift is a waste of time. Our motivation in life is not material, it's spiritual and that needs to be reflected or revolution will continue to build.

🔥 B E R N I E 2 0 2 0 🔥

11.2% !!!!!!!! Jesus!

I think he means market socialism.

tell joe that Capitalism is not equivalent to the presence and activity of markets. We've had markets for at least 6000 years (since Sumer), long before Capitalism. But our markets, until lately, traded in real things we needed or wanted (metals, pigs, horses, carpets, wine, silk, pottery, wool, iron ore, linen, grain, shoes. Those markets, and only those markets, are stable and work consistently. But now, most of our markets are in fictitious goods, traded at notional prices, where value is purely a perception, and such values regularly just go away / disappear. Small wonder we find ourselves in trouble

Stiglitz is ignoring the factor of CEO's being competed for like professional sports teams compete for elite players and movie producers compete for box office stars. As long as US corporations have the money to spend like that, I guess they will. The obscenely high pay for some CEO;s is interesting but is a distraction from the problem of the relative powerlessness of common workers. Workers covered by collective bargaining are far fewer in the US than a generation ago. How do the European socialist democracies manage to protect their laborers? I understand that some of these nations are very successful as measured by the satisfaction of the population. This might be a more fruitful area of exploration for the people in the US.

If a banker gets $10 million a year salary his job description is to run the bank in a proper manner do it legally and make a profit for the shareholders so why does he/she get a 20,40 or 50 million dollar bonus on top of his/her $200,000 a week just for doing his job?a working class man does not get this .... for doing his job ...their secret of course is the Board of directors the proxy votes they can use against the smaller stakeholders and when they own shares in other companies they do deals with other CEO's and their boards to help each other out .... it is an incestuous relationship all based on making each other wealthier to the point of obscenity and it is not in the interest of politicians to change it ....for they too wish to join those boards when they retire or get the boot from office and stick their noses into the bottomless pit $$$$$$ by the raping of the people for their endless greed !!

I don't know folks...we all agree that these practices are immoral. I see this same sentiment everywhere, but if we all just (myself included) type or grievances to strangers we've done nothing. Until, we actually follow that up w/action and galvanize people, are we really any better?

There was a common bumper sticker in the 70s "socialism is not un-american ".

@dwarvenpepperoninipples

5 жыл бұрын

@88Gibson LesPaul Predatory capitalism is still capitalism. Getting rid of the predators merely leaves a vacuum for the next predators.

Yang 2020 people! Secure that bag.

Bob Igers salarie is between him and the sharholders.

Chapeau. Mrs Disney.

And how much does she make as a shareholder??? Less for her Ceo means more for her because you know they won’t pay workers more

Bernie must of Woke her

ponder this: 1 million seconds = 11.5 days..1 billion seconds = 31.5 yrs..1 trillion seconds = 31,500 yrs

No research and development will lead to poor future preformance of a has been nation.

I wonder how she fared as Disney's heiress? And does her words have more impact or credibility because she's Disney's heir?

Inequality now is a big problem for China as well, much more than that in the US in my opinion. But the very reason makes me do not believe western liberal democracy system today is the situation in America and almost everywhere else, we need everything but a system working for the top 1%.

@dscully1808

5 жыл бұрын

There are only two types of government: authoritarian vs. representative democracy. There is no other kind of government. If you don't believe that democracies work, then that means that you prefer authoritarian governments. Authoritarian governments are stabilized by income inequality.

@user-nv5ix3ib5b

5 жыл бұрын

@@dscully1808 Because your media and colleges told you so. At least, there are Social Democratic countries in Scandinavia which work much better than the Anglo-American style. American democracy for long has lost to the super riches, which makes a lot of problems not only in the US but all around the world, you're just pretending not.

@dscully1808

5 жыл бұрын

@@user-nv5ix3ib5b Actually, there are representative democracies and authoritarian governments. There is no other "special" kind of democracy. The only difference, from country to country, is how advanced the democracy is. Leftist policies build and stabilize democracy and create advanced societies. Rightist policies destroy and destabilize democracies. That literally means that a democracy will be primitive or completely destabilized. For the record, when you capitalize things, you turn it into a proper noun. So, it's only a name. People can name their groups or political parties or societies anything that they want. It does not change, however, the actual terms of art used to designate governments. Yes, I'm educated. Education is important. It is the only way one can determine left or right.

Way to go Abigail Disney!

Socialism for the rich and capitalism for the poor

@dscully1808

5 жыл бұрын

Or, you can simply call it authoritarianism. All economic theories lead to an authoritarian system of government. Economics is entirely worthless. You can't use it to build a democracy. So, what is the point. Democracies are the only alternative to an authoritarian system of government, and democracies are not compatible with any economic theory. The next time you see an economist, you should ask him/her what political policies need to be implemented in order to create an economic theory.

Progressive Capitalism, Unicorns and other things that don't exist.

The Stewardship Redemption Section One Participatory Sustainability and untraded "EarthUnits" This discussion takes a step beyond the political 'isms' and suggests some alternatives. The global crisis is the result of an addiction to money-growth-greed (MGG) that began in the 1300's in Venice and must be transformed today. We can design a 'value exchange unit' to go beyond MGG toward an ethical, sustainable consciousness. We can develop a functional construct for all to thrive in balance. We can initiate an evolution with a 'value engine' that prices "EarthUnits" instead of dollars. The intense disarray of 2020 is symbolic of a failed system where the intentional mismanagement of a pandemic resulted in a literal culling of the precariat. Lives of millions and incomes of countless millions were wiped while the investment class's algorithms propelled the grotesquely wealthy to more vulgar heights. We all concur that the standards of 'weights and measures' constitute an imperative. A functional and environmentally healthy future must create pricing algorithms wherein a blockchained and ethically governed Artificial General Intelligence will extrapolate 'prices' that are as intrinsically intuitive as the indisputable criticality of 'weight, measure and time.' The EarthUnit notion stabilizes the orchestration of trade to replace MGG with sustainability. It is untraded on profiteering exchanges. The EarthUnit provides a viable alternative to the deification of money in its various forms: capitalism, trusts, neoliberalism, lobbyism, off-shore secrecy jurisdictions, irrational bubbles, fiat currency central bank manipulation, market trading, market dictates, high speed trading, pointless arbitrage, corporatopolies, plutocracies, monopolies, triopolies, etc, etc. The EarthUnit value exchange unit is definitely not a form socialism or communism but rather a system of STEWARDSHIP of the environment. The EarthUnit represents integrity in itself since it is predicated on the health of the planet and its inhabitants. Within 'Stewardship' the financial-paradigm exchange-challenge is to replace corporate, personal, accumulative MGG with a paradigm of preservation and modesty. This is accomplished by using a leveling, protective instrument - the EarthUnit. A. Needed is a sustainable blockchain currency where a realtime, continuously updated 'Environmental Inventory' - in fact, the health and maintenance of the planet and its lifeforms - would determine the price of all things. A pricing triumvirate would consist of 1) a blockchained democratic voting system for those 16 and older with multiple fault-controlled comparative data engines, 2) elected committees of ecologically-minded, credentialed scientists of essentially all disciplines, and 3) a Supreme Pricing Court - not of $Democrats and $Republicans - but of an ethically designed Synthetic Benevolence System (AI) governing the weights within the databased pricing inventory. Artificial Intelligence is progressing into Artificial General Intelligence where its development is 'aligning' with 'human value safety commitments" aspiring toward an 'ethical altruism.' Such development will make Stewardship viable. B. Bretton Woods, Mt Pelerin, Wall Street, Canary Wharf, Central Banks, Lobbyists: off-course, disassembling, imploding. Untraded, the EarthUnit is free of greedily conceived market manipulation, Ponzi and pyramid schemes as well as political and financial gerrymandering. The EarthUnit's inventory system controls the price of everything based on realtime ecological conditions. The EarthUnit is a non-invasive method to create, guide, maintain and assure sustainability to achieve smaller, reasonable population numbers, resource stability and resource availability. C. Larger businesses must be owned by employees. Currently stockholders and upper management are the coddled beneficiaries of corporations - an undeniable socialism for the wealthy. The customer must become the beneficiary of produced goods priced in sustainable EarthUnits. The employees must become the participants or co-owners replacing the profiteers. D. Gold, silver and bitcoin are market traded and therefore just as subject to Ponzi traders as oil, other commodities, indexes or stocks. Short sellers, high speed traders, manipulative credit instruments, market coins, trading markets and fiat currencies must fall into history. The gate-keeping credit-bureau triumvirate must dissolve. These instruments have not propagated the 'freedom' it so successfully markets. We are desperate for a better system. We are One Earth. One Environmental Unit. One EarthUnit. E. Launching the EarthUnit: 1.) The EarthUnit provides an opportunity to use a stable, easily understood opensource trading tool where the value only changes with environmental health factors, including human health. If the various cryptocurrencies had not been market-traded they would have provided a launching point. Today, a university campus might be a place to launch the untraded EarthUnit. The school's adjacent support businesses and the surrounding town would naturally follow suit. A state university, college and community college system may represent 50 or more campuses. The EarthUnit could extend from one campus to the next, one state to the next. 2.) Massive Global NonViolent Civil Disobedience for empowering an "EarthUnit Institute" is needed. This Institute would foster immediate transitions from all fossil fuels, poor refrigerants and a thorough assessment of synthesized compounds. Needed is a vast, diverse energy array including a fully decentralized grid with various battery forms and vehicle-to-microgrid capability. Fossil fuel vehicles must be phased out. We need wind, solar and geothermal galore, and of course each practical tide must be harnessed since tidal power is consistent and potentially of greatest significance. Most of civilization's building blocks - the tenets, mores, ethics, morals, philosophies - have fallen to the power of money, the ultimate universal god. Velociraptor Capitalists are running wild among us shoving trillions in assets into tax havens. Greed's goal is to keep us running in circles of confusion - sick, broke, uneducated, hateful and consumerized. Modern financialism is addicted to its own greed, endless weapons production, inane insane nuclear technologies, self-defeating proxy wars and despicable global inequality. In our search for a better system we see clearly that most of the issues presented by the profit-motivated thinktanks, the media and university curricula are insidious, divisive distractions to preclude us from following the money. We may not need pitchforks; we may simply need EarthUnits.

Drives me nuts how Stiglitz never mentions Georgism or land value taxation. Or explains the concept of economic rent.

Democratic Socialism is the next step in capitalism, it's time for corporations to become descent, it's time for all rich to pay their faire share, it's time! #ThisIsTheREALTimesUp!

@huehuecoyotl2

5 жыл бұрын

Trying to recapture wealth that the wealthy snagged through taxes is only a way to stop the bleeding. The lesson we need to learn is that they should not have received that money in the first place. Its about who owns the production and who determines what is done with the profit. There should not be non-worker or community shareholders or non-worker or community directors. Period. We should have no ownership of a business when we don't live in the city or state the production happens or if we do not work for that business.

Why would wages go up everyone goes into debt to buy everything. The rich get richer saying you stuff. They own the assets you are buying on debt. Question if you tax the wealthy and give it to government where does it go it has to go to the right thing to be productive right.

@coopsnz1

Жыл бұрын

Franchise own businesses and they aren't rich lefty

THE 🇪🇺EUROPEAN MIXED🌟 RHINELAND/ 🇪🇺SCANDINAVIAN CAPITALISTIC🎆 MODEL WITHIN EUROPEAN🇪🇺 🌟DEMOCRACIES IS/SEEM FAR TO BE PREFERRED🤗 AS THE 🤯INEQUALITY IN AMERICA🇺🇲 SEEMS TO HAVE BECOME EXTREME😱 (😘BAD FOR THE WELL FUNCTIONING OF DEMOCRACY🌟) AS IT SEEMS TO HAVE COME TO THE 💥OPEN, WITHOUT GETTING BLURRED💥.

The title of his book is absurd and grotesque, and he is simply another frightened intellectual trying to save a system in its terminal stage with more fancy dribbling.

People who believe in economic theories have a profound misunderstanding of the way the world works.

Why the Leftist Channel does not critize Globalism too?

@kazaddum2448

5 жыл бұрын

Because it'Ss not black and white. There are good parts and bad parts. Painting all globalism as bad is just naive.

Stieglitz analysis feels like kindergarten effort. He has no grasp of why FDR accomplished what he did. No grasp of pink tide, class struggle, or how blind he is to the imperialist aspects of our global capitalist system.

Ask Amy (net worth $3M) who she's gonna hand out checks to...

So honestly the other extreme communism worked? Soviet Union,Mao s China? We need a balance of both free enterprise and compassionate capitalism..

@huehuecoyotl2

5 жыл бұрын

We need worker ownership. No more owning of shares if you do not contribute to the production or are not situated in the place where that production takes place. That's how you make businesses accountable to those who depend on them the most. Not nationalized businesses, either. Worker and local community ownership. Otherwise, they will forever dodge rules and accountability or try to subvert any regs or rules put on them.

@MitzvosGolem1

5 жыл бұрын

Bill True....

Indentured servitude...

There is no chance these commentators will ever use the magic words "Carrol Quigley" and "Tragedy and Hope: A History of the World in Out Time".

@jarvisaddison8560

5 жыл бұрын

Elaborate if possible?

@PedroHLima-ss7hy

5 жыл бұрын

Jarvis Addison Quigley is a renowned Clinton mentor who backed the thesis that big corporations and western fortunes are the primary financial support of socialism. A 50's congress report which was published under the title "Foundations - their power and influence", basically admitted as fact institutions such as the Rockefeller Foundation were funding communism all over the world. Democracy now is just anotheroutlet backed, likely, by the metacapitalist cabal in order to promote socialism. The why is explained by Guigley.

@jarvisaddison8560

5 жыл бұрын

@@PedroHLima-ss7hy awesome, I'm always interested in learning more so I'll be picking up that book!

@PedroHLima-ss7hy

5 жыл бұрын

Jarvis Addison Check out the vaticancatholic.com channel to understand the current state of affaires in the Catholic Church (why they are seemingly promoting the LGBTQ agenda etc.). It's quite eye-opening as well.

What's the answer then, Socialism? Let's see, Venezuela hmm...

Gee, stieglitz, did you need a PhD for that pithy insight?

progressive capitalism, what a fucking joke 😂😂😂😂😂😂😂😂

GREED

Amy, please stop inviting these charlatans onto your show and giving them a platform.

Stiglitz is such a disappointment.

@coreycox2345

5 жыл бұрын

You must be insane, Justin Trushell. "Rewriting the Rules of the American Economy" is genius in its simplicity.

@coreycox2345

5 жыл бұрын

@Peace Be Upon Me Pants on fire. Nobody could emerge from child alcoholism with that kind of a brain.

@mrfuzztone

5 жыл бұрын

Why do you consider Stiglitz to be a disappointment? He understands the failures of the current capitalist system. He has sensible solutions that would be an improvement for the majority of people.

@coreycox2345

5 жыл бұрын

@@mrfuzztone Good comment. Some days I am prone to dramatic thinking.

But the thing that they don't tell you about Disney Barbosa salad is that's she is a so-called European Jewish person and they run Disney World they choose not to speak about Jewish influence in Jewish power in America in fear of being called/labeled a anti-Semitic so instead they just blame them as European Christians

@rogbrogb7537

5 жыл бұрын

You want to oppose Zionism? Great! But if you want to bash Jews, fuck off! Nazi?