Capitalism in a nutshell: create the problems & sell the "solution". Because you can profit from those problems, and also from the illusion of solution. Profit profit profit. Prof. Harvey hit it out of the park in this episode.
More like a bunt gone foul since it contains no understanding of what motivates this behavior that has been historically consistent and is directly connected to laws of nature which compels it. At best it is moral subjectivism rendered in hindsight and a reaction to the effects of technological advancements and their acceleration since the industrial revolution.
@@jgalt308 again with sanctimonious bullshit! What are these laws of nature you are trying to reduce everything to? Are you sure it's not just you making things simple enough for yourself so that they fit into your head?
@@jgalt308 you must usually be the smartest guy in the room. Too bad you spend most of your time in the basement by yourself telling others how ignorant they are in youtube comments.
The most important concept that obscures what wealth really is and how to create wealth is the concept of money. Money is a legal system that we invented in order to exchange and store access to wealth. It is not wealth. Wealth is people making the goods and delivering the services that we need and want. Those who want to tell you that Money is like the law of gravity are those who either have a lot of money or make their money by manipulating money i.e. bankers, hedge funds, venture capitalists et cetera. They say that without money we can’t do things, when what really matters is people and natural resources.
@@jgalt308 Okay. Point taken I am using money to mean what most people think it means. Most people think of money as wealth .They think that things cannot be done without money. It’s money that comes first human beings second.when in fact If no money existed we could still create lots of wealth
@@kennethmarshall306 Most people have rejected "reality" for innumerable fantasies that seemed to provide "answers" to questions that were unknowable or discomforting which gave rise to mysticism and its practitioners and believers as a competitor or cooperator with rulers and the direct exercise of power through force.
Agreed. Money, whether fiat or "real", is just a means to an end. If money had some inherent value, it wouldn't be money. It would then be an asset. Even Marx in the Capital volumes takes a shot at gold being money; he says it merely has an imaginary value foisted on it by humans. To the earth and other living things, it's no different than dirt, water, etc. It's just another element like all the others. But to mankind, it's supposedly inherently valuable because it's shiny and sparkly and whatever.
@@whompbiscuits8930 Money has always had inherent value and was attached to a commodity, mostly "grain" in the beginning...the trouble has always come from the "cheaters" even when money was "real"...but the biggest con is "fake money" which gives whoever controls it, complete power over the economy...FDR did that in 1933, and then the whole world was sucked in, in 1971, which is how you got here...enjoy the ride, what's left of it since you all insist on remaining clueless.
This is so good he breaks everything down into such simple terms. Does anybody have any recommendations for other good episodes of this? I’d love to watch more but don’t know where to start
Control Law making control the Country. Its not surprising because Yale has a motto we teach you how to make future Laws aka be a Ruling Elite to rule the country by use of law.
All of the law is a "fraudulently induced deception" which you have been "assumed" to have agreed to, because you failed to object...yet no matter how many times this "evidence" has been posted...and the actual POWER it would give "the people" none of you are interested enough to even begin to examine it. (and this has been true for 87 years. ) The end result of this "willful ignorance" is not if they will come for you, but when.
I personally work in the humanitarian sector in Africa and I know that it doesn't challenge the status quo of global inequality or the structural causes of poverty. That reality hurts me a lot. However, I don't think any other public or private entity would do that in a neoliberal world. It is probably one of the sectors that needs to be reformed as we transition to the socialist order in order to make the world more equal and just place. I am probably trying to escape the reality that it's a failed business.
actually low inflation is the most neoliberal of all. It allows the owner class to borrow more and more money because they don't actually produce anything. This is the nature of asset inflation.
Analysis is only a first part, and not even a prerequisite. Most working people know what needs to be done if they organize collectively and not hierarchically. Let's organize. Pehaps the two most crucial decades in human history are in front of us.
What keeps me wondering is how easily Harvey makes the transition from 'capital needs this' to 'capitalISTS / ruling class do this'. Is there already an episode of the ACC about the processes that mediate between the interests of capital-in-general and actors that pursue coordinated strategies in this direction? Or otherwise please make one? :)
👍 "Ideological scam". Let's talk about that more in depth. The discourse we have on the left likes to talk about the double talk and the greed and the cruelty but we are just speaking to ourselves, to the choir so to speak. I don't think that is an effective kind of opposition. A more effective opposition would be to examine the key characteristics of these ideologies, how they wield power over decision makers and over the general public and over workforces and over academia/economics/business school, boy scouts, all television shows, public schools, our understanding of success, class relations and the nature of the classes. To hate on the corporate politicians and the conservatives is better than nothing but to have only that is part of a dumbing down process in my opinion. Right now journalists I have a lot of respect for are exposing the manipulative hate campaign against Cuba and Venezuela which is a breath of fresh air in a land of toxicity. But the much longer and wider discussion in my opinion is to examine the question of why? Yes there are dozens of straw man answers to this but they are straw men. What motivates the monopoly state to push this cold war aggression to a tiny country that tries to survive? How bad does United Health want to get a cut of every Cuban who needs a check-up, or medicine, or an x-ray, or physical therapy, or surgery, or insulin, or a pain killer? How bad do investment banks want to finance the homes of all Cubans? How bad do banks want to extend credit to Cubans for fake dreams of success that keeps them in debt servitude? Would this make life better for us? No. Not only would it not make life better for us but if we could have a more critical and wider view of how the monopoly, the finance monopoly and the foreign aggression are all related and directly related to what affects and defines our own lives it would empower a lot of people, and that is what we want right? And the point of a thriving and effective left is not to have authoritarian state capitalism, or a bloated dependency making social welfare state, it is to have a healthy and fair society that allows for open political discourse, and a society that provides a much better space and existence for a lot of people instead of wild dreamlike success for only a tiny minority.
It's a challenge staying effective in the Present, where prepariing for the Future necessitates frequent visits to the Past ; the effective plans are always successful when one is conscientiously in the Present. With practice, it becomes easier.🤷
So since blockchains allow DAOs to organize their own investment and decide what labor is valued by the DAO community, the working class is no longer dependent on Capital Funds.
I reject this. Blockchain requires computation. Computation requires energy. Energy requires production. I demand an explanation for the existence of money, *_in any case_* I see no reason why one couldn't be broke and homeless just because money is all of a sudden a hash function free of state regulation. In fact, I actually see it as a potency for brand new crises with unimagined absurdities. There is no grander testament of the extent to which monetary value need not bare on life within the material world than crypto-currency I think-it is quite literally *just an abstraction* first and foremost. As such, an abstraction with no inherent value. The very existence of crypto-currency _necessarily presupposes the very existence of money_ I see no reason why it shouldn't reify the mode of production from which it was spawned. In fact, I imagine it to birth brand new degeneracies, and with that, brand new degenerate forms of life. This has all been to say, we need money reform if not money abolition. Production and consumption governed by abstractions of abstractions does not seem to me a realistically sustainable way for humanity to exist. Violence needs to be brought to powers that be that institute, enforce, and maintain these modes of production. It is a porcine _ism_ that might suggest that this is to be found within the realm of what consumerism might or might not permit. _Of course it wont fucking permit it, _*_are you fucking kidding me?_*
Do you not think that the discrediting of the ideas provides a historic opportunity for the working class to challenge capitalist power? The theories by Antonio Gramsci would suggest that.
11:40 On Keynes attributing illness to "the quest for money": *this is a principle that goes as far back as the most fundamental Aristotle* for almighty fucking sakes!!! Yet I am still generally expected to believe (quite often by anarchists, unfortunately) that concerns for the abolition of money-let alone mere monetary reform for fucks sakes-ought be tucked away as some vague transcendental horizon that should be left for future generations to handle or something. All the meanwhile crypto-currencies are whirring away more and more chaotically with every passing day-not to mention all of the energy which *the mere computation of those transactions* depends on! I think we need programmatic efforts towards money abolition- _or towards monetary _*_reform_*_ at the very least_ -I think money has become immaterial enough as it currently stands. Efforts need to be made against the existence of money.
5 fold in 5 years. Facebook charges for advertising have followed EXACTLY the same trajectory. This is the inflation that doesn't get recorded. Billionaire inflation.
Relations aren't only expressed in ideas. At which point do the abstractions of ideas converge with the reality of being? You're talking about the world as abstraction but omitting the earth as meaning. The world shifts, but the earth remains constant and unknowable. The earth is the constant from which the world arises and becomes identifiable/understood. Take the baker as an example. The baker handles the earth, and it is through this that his being as 'a baker' is realised - made manifest.
as good an expose of the neoliberal disaster as any available across the internet.......capitalism is fighting for its survival.....we better hope it loses because that is the only hope there is for a world that is teetering on the abyss of climate catastrophe......the unprecedented floods in Germany simply the most recent....anticipate many, many more as the world obsesses about private wealth and how to retain and expand it.....
I've got a progressive idea for you intellectual types. A secure internet voting system. The MPs or the people come up with an idea. The MPs have their debate live on TV and have a vote. Then the public have the vote to reject or accept it. You would use this system for major issues, decided on by the public, as it would not be practical otherwise. The instant this system was brought in, all the greedy little bastards would realise that they could no longer hold sway, and that corruption was a waste of time.
@Thor Crowley Nope, left and right are two clearly different political directions for society to move towards. The dichotomy of course cannot represent every element of political thought, but it actually does a pretty good job, especially along economic lines.
Capitalism in a nutshell: create the problems & sell the "solution". Because you can profit from those problems, and also from the illusion of solution. Profit profit profit. Prof. Harvey hit it out of the park in this episode.
More like a bunt gone foul since it contains no understanding of what motivates this
behavior that has been historically consistent and is directly connected to laws of
nature which compels it. At best it is moral subjectivism rendered in hindsight and
a reaction to the effects of technological advancements and their acceleration since
the industrial revolution.
@@jgalt308 again with sanctimonious bullshit! What are these laws of nature you are trying to reduce everything to? Are you sure it's not just you making things simple enough for yourself so that they fit into your head?
@@jgalt308 Quit trolling.
@@whompbiscuits8930 Quit spouting nonsense about things of which you are completely ignorant.
@@jgalt308 you must usually be the smartest guy in the room. Too bad you spend most of your time in the basement by yourself telling others how ignorant they are in youtube comments.
In case anybody is wondering, the shirt reads "Nothing should seem impossible to change."
Thanks!
Should being the keyword ... The rest is irrelevant speculative bullshit
Is it Portuguese? Other than "nada" and "imposible" it doesn't look like español .
This channel is great
The most important concept that obscures what wealth really is and how to create wealth is the concept of money. Money is a legal system that we invented in order to exchange and store access to wealth. It is not wealth. Wealth is people making the goods and delivering the services that we need and want. Those who want to tell you that Money is like the law of gravity are those who either have a lot of money or make their money by manipulating money i.e. bankers, hedge funds, venture capitalists et cetera. They say that without money we can’t do things, when what really matters is people and natural resources.
You are confusing money with fiat...and also early "credit" and "usury"...
@@jgalt308 Okay. Point taken I am using money to mean what most people think it means. Most people think of money as wealth .They think that things cannot be done without money. It’s money that comes first human beings second.when in fact If no money existed we could still create lots of wealth
@@kennethmarshall306 Most people have rejected "reality" for innumerable fantasies
that seemed to provide "answers" to questions that were unknowable or discomforting
which gave rise to mysticism and its practitioners and believers as a competitor or
cooperator with rulers and the direct exercise of power through force.
Agreed. Money, whether fiat or "real", is just a means to an end. If money had some inherent value, it wouldn't be money. It would then be an asset. Even Marx in the Capital volumes takes a shot at gold being money; he says it merely has an imaginary value foisted on it by humans. To the earth and other living things, it's no different than dirt, water, etc. It's just another element like all the others. But to mankind, it's supposedly inherently valuable because it's shiny and sparkly and whatever.
@@whompbiscuits8930 Money has always had inherent value and was attached to a commodity,
mostly "grain" in the beginning...the trouble has always come from the "cheaters" even when
money was "real"...but the biggest con is "fake money" which gives whoever controls it,
complete power over the economy...FDR did that in 1933, and then the whole world was sucked in, in 1971,
which is how you got here...enjoy the ride, what's left of it since you all insist on remaining clueless.
This is so good he breaks everything down into such simple terms. Does anybody have any recommendations for other good episodes of this? I’d love to watch more but don’t know where to start
Try Michael Hudson videos in YT. Its more in depth breaking it down and adds more to it.
They’re all good! Just scroll through the playlist and find something that interests you.
th-cam.com/video/Z9nAutk9Cic/w-d-xo.html
Thank you, David Harvey. Very illuminating analysis.
Very important and informative as usual! Thank you David Harvey for sharing your thoughts with the world!
most of america's laws are corporate centric. civil law has taken a back seat.
Control Law making control the Country. Its not surprising because Yale has a motto we teach you how to make future Laws aka be a Ruling Elite to rule the country by use of law.
@@weiskl887 That's because the sheeps vote in favor of the wolves because the wolves told the sheeps they will become wolves soon.
@@morganangel340 LOL A bit philosophical but also concise.
All of the law is a "fraudulently induced deception" which you have been "assumed"
to have agreed to, because you failed to object...yet no matter how many times
this "evidence" has been posted...and the actual POWER it would give "the people"
none of you are interested enough to even begin to examine it. (and this has
been true for 87 years. )
The end result of this "willful ignorance" is not if they will come for you, but when.
@@jgalt308 and if you try to combat those laws, you are labeled as a marxist socialist.
This is absolutely spot-on. ...Also, the data points to the likelihood of these dynamics will be even more pronounced. We have some fun times ahead.
Dr. Harvey, Your set and sound (other than the weirdness today) is great. Keep it up. Thanks, -Rob
'These days I often find myself repeating myself without knowing it. This time I do know it.'
- LOL :-D
Guess he knows what he doesn't know? 👍
I personally work in the humanitarian sector in Africa and I know that it doesn't challenge the status quo of global inequality or the structural causes of poverty. That reality hurts me a lot. However, I don't think any other public or private entity would do that in a neoliberal world. It is probably one of the sectors that needs to be reformed as we transition to the socialist order in order to make the world more equal and just place. I am probably trying to escape the reality that it's a failed business.
I’ve never seen Harvey this good. This was outstanding
Anyone who asks if neoliberalism is over doesnt understand inflation
actually low inflation is the most neoliberal of all. It allows the owner class to borrow more and more money because they don't actually produce anything. This is the nature of asset inflation.
This was excellent.
Analysis is only a first part, and not even a prerequisite. Most working people know what needs to be done if they organize collectively and not hierarchically. Let's organize. Pehaps the two most crucial decades in human history are in front of us.
Classic Harvey, include interesting and well-argued examples.
Had to come to youtube just to say that this was a super interesting episode
What keeps me wondering is how easily Harvey makes the transition from 'capital needs this' to 'capitalISTS / ruling class do this'. Is there already an episode of the ACC about the processes that mediate between the interests of capital-in-general and actors that pursue coordinated strategies in this direction? Or otherwise please make one? :)
I got a lot to churnish. Thank you.
👍 "Ideological scam". Let's talk about that more in depth. The discourse we have on the left likes to talk about the double talk and the greed and the cruelty but we are just speaking to ourselves, to the choir so to speak. I don't think that is an effective kind of opposition. A more effective opposition would be to examine the key characteristics of these ideologies, how they wield power over decision makers and over the general public and over workforces and over academia/economics/business school, boy scouts, all television shows, public schools, our understanding of success, class relations and the nature of the classes.
To hate on the corporate politicians and the conservatives is better than nothing but to have only that is part of a dumbing down process in my opinion. Right now journalists I have a lot of respect for are exposing the manipulative hate campaign against Cuba and Venezuela which is a breath of fresh air in a land of toxicity. But the much longer and wider discussion in my opinion is to examine the question of why? Yes there are dozens of straw man answers to this but they are straw men. What motivates the monopoly state to push this cold war aggression to a tiny country that tries to survive?
How bad does United Health want to get a cut of every Cuban who needs a check-up, or medicine, or an x-ray, or physical therapy, or surgery, or insulin, or a pain killer? How bad do investment banks want to finance the homes of all Cubans? How bad do banks want to extend credit to Cubans for fake dreams of success that keeps them in debt servitude? Would this make life better for us? No. Not only would it not make life better for us but if we could have a more critical and wider view of how the monopoly, the finance monopoly and the foreign aggression are all related and directly related to what affects and defines our own lives it would empower a lot of people, and that is what we want right? And the point of a thriving and effective left is not to have authoritarian state capitalism, or a bloated dependency making social welfare state, it is to have a healthy and fair society that allows for open political discourse, and a society that provides a much better space and existence for a lot of people instead of wild dreamlike success for only a tiny minority.
Try Flote.app, a patreon alternative, no cut of your donation goes to the Ruling Class.
So early constitutionalism is like a Smithian contract between merchants.
Perhaps "good billionaire" is an oxymoron.
Very interesting. I would love to hear something about Fredrich Hayek's place in this.
His place was to insert the idea that the state must create and sustain markets because capitalism is irrational.
It's a challenge staying effective in the Present, where prepariing for the Future necessitates frequent visits to the Past ; the effective plans are always successful when one is conscientiously in the Present. With practice, it becomes easier.🤷
Human imagination it’s incredible and lascia senza parole 😶 qualche volta!
The federal reserve is the expression of those abstractions and it has the goal of keeping wages low.
So since blockchains allow DAOs to organize their own investment and decide what labor is valued by the DAO community, the working class is no longer dependent on Capital Funds.
I reject this. Blockchain requires computation. Computation requires energy. Energy requires production. I demand an explanation for the existence of money, *_in any case_*
I see no reason why one couldn't be broke and homeless just because money is all of a sudden a hash function free of state regulation. In fact, I actually see it as a potency for brand new crises with unimagined absurdities.
There is no grander testament of the extent to which monetary value need not bare on life within the material world than crypto-currency I think-it is quite literally *just an abstraction* first and foremost. As such, an abstraction with no inherent value. The very existence of crypto-currency _necessarily presupposes the very existence of money_
I see no reason why it shouldn't reify the mode of production from which it was spawned. In fact, I imagine it to birth brand new degeneracies, and with that, brand new degenerate forms of life.
This has all been to say, we need money reform if not money abolition. Production and consumption governed by abstractions of abstractions does not seem to me a realistically sustainable way for humanity to exist. Violence needs to be brought to powers that be that institute, enforce, and maintain these modes of production.
It is a porcine _ism_ that might suggest that this is to be found within the realm of what consumerism might or might not permit. _Of course it wont fucking permit it, _*_are you fucking kidding me?_*
22:30
*Billionaire class analysys*
The tragedy of modern life is to be ruled by abstractions and not depend on one another while abstractions are in the background.
Do you not think that the discrediting of the ideas provides a historic opportunity for the working class to challenge capitalist power? The theories by Antonio Gramsci would suggest that.
Could you do a video on capitalism and war? You said something about how surplus and war some time ago that I feel needs expansion.
11:40 On Keynes attributing illness to "the quest for money": *this is a principle that goes as far back as the most fundamental Aristotle* for almighty fucking sakes!!! Yet I am still generally expected to believe (quite often by anarchists, unfortunately) that concerns for the abolition of money-let alone mere monetary reform for fucks sakes-ought be tucked away as some vague transcendental horizon that should be left for future generations to handle or something.
All the meanwhile crypto-currencies are whirring away more and more chaotically with every passing day-not to mention all of the energy which *the mere computation of those transactions* depends on! I think we need programmatic efforts towards money abolition- _or towards monetary _*_reform_*_ at the very least_ -I think money has become immaterial enough as it currently stands. Efforts need to be made against the existence of money.
Thievery pure and simplistic.
5 fold in 5 years. Facebook charges for advertising have followed EXACTLY the same trajectory. This is the inflation that doesn't get recorded. Billionaire inflation.
Most billionaires seem to care about one thing only: how to make another billion. They don't give a frell about politics.
Interesting.
How much Equities did the US Fed buy, via just Blackrock, last week??? Use presearch search engine to find out
Relations aren't only expressed in ideas. At which point do the abstractions of ideas converge with the reality of being? You're talking about the world as abstraction but omitting the earth as meaning. The world shifts, but the earth remains constant and unknowable. The earth is the constant from which the world arises and becomes identifiable/understood. Take the baker as an example. The baker handles the earth, and it is through this that his being as 'a baker' is realised - made manifest.
Irnoically it was Nixon who signed OSHA and EPA. Nixon's 1st term was the last of the new deal era
the voice activation in this video is too much to handle... the cutting in and out of ambient sounds makes me feel 'sea sick'...
Ta-Nehisi Coates: Ta-nuh-hisi
Ta-nuh-hasi
❤
The emerging oligarchy in china has been drawing attention over past 2-3 years, actions are ongoing and there are more to come in near future
Yes, you are seeing China destroying itself from the inside, right now. All we have to do is to lean back and watch.
Lepi Doptera you’re totally off the point
@@bwes1789 How so? Xi is destroying internal investment, right now.
as good an expose of the neoliberal disaster as any available across the internet.......capitalism is fighting for its survival.....we better hope it loses because that is the only hope there is for a world that is teetering on the abyss of climate catastrophe......the unprecedented floods in Germany simply the most recent....anticipate many, many more as the world obsesses about private wealth and how to retain and expand it.....
EAT THE RICH!
Bezos would be a better example than Musk
Tesla is making electric cars viable
Look over here at fake billionaire Chump
Christianty, expressed in the holy bible is the rich not getting richer and the poor not getting poorer.
I've got a progressive idea for you intellectual types. A secure internet voting system. The MPs or the people come up with an idea. The MPs have their debate live on TV and have a vote. Then the public have the vote to reject or accept it. You would use this system for major issues, decided on by the public, as it would not be practical otherwise. The instant this system was brought in, all the greedy little bastards would realise that they could no longer hold sway, and that corruption was a waste of time.
2nd
Yeah - let’s have more empty talk from the Left. That will change things.
the talk is only empty cuz the right refuses to act on it.
Without talking, no one knows what action needs to be taken to change things for the better for all.
@Thor Crowley Nope, left and right are two clearly different political directions for society to move towards. The dichotomy of course cannot represent every element of political thought, but it actually does a pretty good job, especially along economic lines.
You love Communism? That's plain cuckoo.