This is a really good outline of what is happening. It's much worse though though. Essentially sociopathic individuals and groups have formed over the decades and figured out how to suck the wealth from society and divert that wealth in to things that are destructive. They are suffocating society because money that would normally have went towards things that helped society(schools, education, hospitals, production, etc) go towards things that hurt society(bribes, useless shell companies, prostitutes, drug dealers, mansions, etc). The people that have used the flaws in the rules of the system are unethical and amoral so naturally the wealth they get will go towards such things. Not only that, they are not intellectually actually capable of wielding such power. The problem is that the power structures are now infested by these sociopaths so that it is impossible to stop them and because they believe they are gods gift to humanity they will never stop themselves. The singular outcome of such a system is destruction. The feedback loops involved are tremendous and every day humanity is being undermined step by step. This is not due just to capitalism but the interaction of capitalism hierarchical power structures(which capitalism uses very effectively). These hierarchical power structures are what has been so corrupted by the sociopaths due to their manipulation, lies, and diversion of wealth to new structures that reinforce their solidification of power that the vast majority have almost zero ability to stop it except outright full on mass violence against these lunatics. But the masses generally are not nearly as evil and will want to resort to violence or give up their relatively decent life styles(but which generally is on the decline). Hence these two dynamics is that the lunatics become more and more powerful with almost nothing to stop them. The newer generations are brought up in this insane system and either outright reject it(which can have serious consequences) or think it is the way things work and become the next generation of the sociopaths(they joint the insane cult... and partly because the benefits are great. E.g., it is much more profitable to go work on wall-street doing virtually nothing than, say, becoming a farmer). Humanity requires a certain foundational structure to exist and the more complex the society the stronger the foundation needs to be... but the lunatics have undermined the foundation. Many people are realizing something is critically wrong BUT most people are far too ignorant of all the factors involved to be able to grasp the big picture. Humanity has cancer that has metastasized. The major social structures that have been created in the last 50+ years are sociopathic(they create sociopaths). E.g., the financial systems create extreme greed, the political great extreme megalomania, etc. As these systems persist and more and more become affected by it they start to reinforce it on each other. It is a disease of the system, of the "way things work" rather than the individuals. All humans are susceptible to these psychopathic structures. If it were a physical disease everyone would see it and be acutely aware. E.g., if all political buildings caused leprosy it would be obvious. If all financial buildings caused massive obesity then it would be obvious. Because these are diseases of the mind it that are not obvious by looking at someone people don't realize how bad it is. I attribute these problems ultimately to the fact that psychopathy is much easier to create than cure and it is a communicable disease. it is very easy for a psychopath to turn someone else in to a sociopath but it is almost impossible to reverse that(in fact it is impossible but it is almost impossible to reverse it to any significant degree). Hence what happens is that over time psychopathy builds up in a society and eventually destroys that society. The reason is that psychopaths don't care about the success of the society, only of themselves so the necessary structures required for success of the society are neglected and decay and the decay enables psychopathy to be created at a higher rate and hence is a reinforcing feedback loop that quickly causes a collapse. These are natural processes in all societies and hierarchies as if they were built in by the universe to limit societies from ever growing too large or due to the environment not being able to property support societies or whatever it might be. But without a government and financial system that specifically and explicitly solves this problem it is destined to fail.
Thus, NEO-FEUDALISM would certainly be a justified term to describe this fatal 'new' permutation of initial/Smithian Capitalism. c.f.: the phenomenological concept of "enantiodromia " [Heraclitus]
Every so often I have to remind myself that this incredibly articulate and up to date intellectual is 86 feckin years old and I can barely remember where my house keys are most of the time
Hello!. I'm from South Korea. :-) In South Korea, our workers are getting poorer with unemployment, layoffs and wage cuts, while the capitalists are getting richer. Because capitalists exploit workers. Capitalism is a system in which capitalists privately own the means of production and exploit workers. Capitalism is the root cause of the frustrating reality that unemployment and layoffs continue, non-regular workers do not become regular workers, and the economy does not improve. It is important to go one step further from the vaguely "something needs to change" and to have a clear perception that the problem is capitalism and socialism is the answer. Socialism is the answer!
Rather than a free market individualist ethic, what we need is a system that is compatible with the ethics of community and shared living spaces (socialism)
Listening to this in the morning train ride to sell my labour. Such a refreshing listen. When are you engaging on this topic with that other guru Varoufakis? A chat between you two would be perfect.
@@chriscourtney7369 (face palm) How do the public schools create this level of stupid? Both my wife and I drive our own cars to work. We own a house. We pay our bills and raise our family. That is what happens when you invest in yourself through an education(a real one), learn a trade and sell your labor to the highest bidder. And if you are fortunate enough to be in an industry like mine with a shortage of labor that bidding goes pretty high. Stop listening to marxist proselytizers and get an education. Invest in yourself. Learn a trade. In fact, my advice in this day and age would be not to go to college, go to a trade school instead. The trades pay very well and you won’t be tens of thousands of dollars in debt with a useless degree. Smarten up. …Dude
@@bluewater454 u comment on a lot of socialist videos are u a troll? Because I can see by looking through ur comments u have had comprehension of what he was talking about through professor Richard wolfs videos about socialism and worker co ops he is talk about the majority of his time at work him not making money for himself but rather profits for the ceo because he has sold his time and labour and does not get the value of his labour back
Think for a moment that what would've taken our forebears many, many hours to print, nevermind distribute, socialist works that can now be accomplished with a cheap camera and microphone, no printing press needed. Which is kind of profound to me, as we've no real barrier to even international organizing except for our own failure to grab the opportunity and use said technology for our own ends.
"This explains why all nations characterized by the capitalist mode of production are periodically seized by fits of giddiness in which they try to accomplish the money-making without the mediation of the production process." (p. 137, Capital, Vol. 2, Penguin. According to the footnote, this sentence was added by Engels to the 2nd edition of Capital, Volume 2 (1893)).
Quantitative Easing is an asset swap. It doesn't "create new money"; those financial assets were bought with money that already existed in the first place.
Pensions for all workers through out the usa should be in place yes and what do u mean no they are not they produce no value the value it’s self only comes from the capital which they then might of had to work for but for example landlord are not workers what’s so ever they are parasites and should all get a real job or we will have a cultural revultion baby
@@DrynSarcastic360 hopefully someone sees it and thinks about it and it changes a slight perception the bolshievs books was only read by 500 people before the revultion baby steps before the movement comrade we can not just sit here and do nothing I also only do this in my spare time where theee is not much more impact I can have and to give my self a rest from reading
@@DrynSarcastic360 I think it can also solidify my learning and sometimes the replies I get either amuse me or make me find more subjects to learn about
Did you notice how that Ponzi scheme has given you the very computer that you are posting on? It does not appear to me that you are, at all, aware of your environment, kid. ;-)
You are telling that : financial and merchants capital are not concern about surplus value 😳 As far as I know the profit of both are the share of each from surplus value produced in production It seems that Marx put Hegel upside down and you are trying to put Marx upside down
@David Collins I agree that Blockchain technology can be a game changer. But the flow of merchant capital and excessive state control to Decentralized Finance technology will just transfer the inequality there
Every time I listen to a podcast from someone living in New York, the intelligence of what they're saying is overshadowed by the unintelligence of paying such high rent/mortgage to be constantly inundated with the abrasive sounds of traffic lol You really expect me to think your brain is working right when you choose to live that way??
What does choosing where you live have to do with intelligence? There could be an endless number of reasons for a person to pick a city to live in other than money. Employment, family, amenities, culture, vibe, projects, hobbies, etc. By a different, equally ludicrous, way of reasoning, one could argue that he's more intelligent than others because he's able to articulate complex topics while "being inundated with the abrasive sounds of traffic". Just listen to what he has to say and decide if it does or does not make sense to you. If it doesn't, move on. No need to discriminate
A NORMAL, WELL EDUCATED INDIVIDUAL UNDERSTANDS THAT SOME WORK IS MORE VALUABLE THEN OTHER AND THAT YOU CAN EARN MONEY WITH RISKY INVESTMENTS. ONLY THE STUPID MARXIST KEEPS ON CLAIMING THAT INCOME FROM USING CAPITAL IS "UNEARNED" AND THAT THE TOILET CLEANER SHOULD EARN FOR WORK AS MUCH AS A CEO DIRECTOR.
Problem is not earning surplus pay due to risk uptake. Problem is that the share of surplus value going to labor has decreased over time. The toilet cleaner share of pay divided by profit has decreased over the years. The CEO's share of pay divided by total profit has increased over the years. That's what brings long-term adverse economic inequality.
@@davidmutua4158 NO, PEOPLE ARE EDUCATED AT SCHOOL AND LEARN THAT HEAD-WORK HAS MORE VALUE THAN PUSHING BUTTONS. PEOPLE ARE ALL EQUAL BECAUSE THEY WORK. THAT A SMALL NUMBER OF STUPID INDIVIDUALS WANT TO LIVE IN EXTREME WEALTH, ON ETERNAL HOLIDAY IN EMPTY VILLAS, IS NOT IMPORTANT. IT SEEMS TO ME THAT MARXIST ARE CHILDREN WITH AN OVERLOAD OF COMPASSION WITH OTHER HUMANS (PROBABLY ALSO WITH ANIMALS)
@@marcionphilologos5367 Socialism doesn't advocate for everyone to do nothing and live in wealth, NO!. Everybody must provide Value. It's only that In this kind of system we are living in some people get alot of the value that others have provided while others get alot less of the value they provide. So will you tell me that you are okay with adverse inequality since "everybody cannot live in mansions"??? And those "stupid individuals" are important because they sap out the value from others. The wealth they swim in doesn't fall from Heaven
@@davidmutua4158 YES, YOUR PROBLEM IS THAT YOU DO NOT UNDERSTAND THE RATIONALITY WITHIN CAPITALISM. AS AN ALIENATED INDIVIDUALITY YOU COME UP WITH ABSURD FANTASIES, LIKE AN COOPERATIVE ECONOMY ORGANISED IN A DEMOCRATIC WAY. DREAM ON, OR BETTER PUT A BULLIT IN YOUR HEAD.
![Global Capitalism: The U.S. Election and Trump 2.0 in Historical Perspective [November 2024]](/img/n.gif)
This is a really good outline of what is happening. It's much worse though though. Essentially sociopathic individuals and groups have formed over the decades and figured out how to suck the wealth from society and divert that wealth in to things that are destructive. They are suffocating society because money that would normally have went towards things that helped society(schools, education, hospitals, production, etc) go towards things that hurt society(bribes, useless shell companies, prostitutes, drug dealers, mansions, etc). The people that have used the flaws in the rules of the system are unethical and amoral so naturally the wealth they get will go towards such things. Not only that, they are not intellectually actually capable of wielding such power. The problem is that the power structures are now infested by these sociopaths so that it is impossible to stop them and because they believe they are gods gift to humanity they will never stop themselves. The singular outcome of such a system is destruction. The feedback loops involved are tremendous and every day humanity is being undermined step by step.
This is not due just to capitalism but the interaction of capitalism hierarchical power structures(which capitalism uses very effectively). These hierarchical power structures are what has been so corrupted by the sociopaths due to their manipulation, lies, and diversion of wealth to new structures that reinforce their solidification of power that the vast majority have almost zero ability to stop it except outright full on mass violence against these lunatics. But the masses generally are not nearly as evil and will want to resort to violence or give up their relatively decent life styles(but which generally is on the decline). Hence these two dynamics is that the lunatics become more and more powerful with almost nothing to stop them. The newer generations are brought up in this insane system and either outright reject it(which can have serious consequences) or think it is the way things work and become the next generation of the sociopaths(they joint the insane cult... and partly because the benefits are great. E.g., it is much more profitable to go work on wall-street doing virtually nothing than, say, becoming a farmer). Humanity requires a certain foundational structure to exist and the more complex the society the stronger the foundation needs to be... but the lunatics have undermined the foundation. Many people are realizing something is critically wrong BUT most people are far too ignorant of all the factors involved to be able to grasp the big picture.
Humanity has cancer that has metastasized. The major social structures that have been created in the last 50+ years are sociopathic(they create sociopaths). E.g., the financial systems create extreme greed, the political great extreme megalomania, etc. As these systems persist and more and more become affected by it they start to reinforce it on each other. It is a disease of the system, of the "way things work" rather than the individuals. All humans are susceptible to these psychopathic structures. If it were a physical disease everyone would see it and be acutely aware. E.g., if all political buildings caused leprosy it would be obvious. If all financial buildings caused massive obesity then it would be obvious. Because these are diseases of the mind it that are not obvious by looking at someone people don't realize how bad it is.
I attribute these problems ultimately to the fact that psychopathy is much easier to create than cure and it is a communicable disease. it is very easy for a psychopath to turn someone else in to a sociopath but it is almost impossible to reverse that(in fact it is impossible but it is almost impossible to reverse it to any significant degree). Hence what happens is that over time psychopathy builds up in a society and eventually destroys that society. The reason is that psychopaths don't care about the success of the society, only of themselves so the necessary structures required for success of the society are neglected and decay and the decay enables psychopathy to be created at a higher rate and hence is a reinforcing feedback loop that quickly causes a collapse. These are natural processes in all societies and hierarchies as if they were built in by the universe to limit societies from ever growing too large or due to the environment not being able to property support societies or whatever it might be. But without a government and financial system that specifically and explicitly solves this problem it is destined to fail.
Thus, NEO-FEUDALISM would certainly be a justified term to describe this fatal 'new' permutation of initial/Smithian Capitalism.
c.f.: the phenomenological concept of "enantiodromia " [Heraclitus]
The man, the myth, the legend...
Every so often I have to remind myself that this incredibly articulate and up to date intellectual is 86 feckin years old and I can barely remember where my house keys are most of the time
Hello!. I'm from South Korea. :-) In South Korea, our workers are getting poorer with unemployment, layoffs and wage cuts, while the capitalists are getting richer. Because capitalists exploit workers. Capitalism is a system in which capitalists privately own the means of production and exploit workers. Capitalism is the root cause of the frustrating reality that unemployment and layoffs continue, non-regular workers do not become regular workers, and the economy does not improve. It is important to go one step further from the vaguely "something needs to change" and to have a clear perception that the problem is capitalism and socialism is the answer. Socialism is the answer!
Solidarity from the UK, my friend!
Rather than a free market individualist ethic, what we need is a system that is compatible with the ethics of community and shared living spaces (socialism)
Okay, and how does that work? The "community" will provide for all of my needs, and I don't have to do anything?
Which has worked….
Where?
@@bluewater454 In their naive imaginations.
@@jeremyrangel8138
Yes, socialism works every time
socialists imagine it.
@@bluewater454 socialism fails when the US sabotage or undermine their systems. Sit down.
Listening to this in the morning train ride to sell my labour. Such a refreshing listen. When are you engaging on this topic with that other guru Varoufakis? A chat between you two would be perfect.
To “sell your labor”. LOL
Would you rather work for free?
@@bluewater454 dude most be broke can’t afford a car to drive to work.
Dude you must be broke you are a victim of capitalism refuse to sell your labor.
@@chriscourtney7369
(face palm)
How do the public schools create this level of stupid?
Both my wife and I drive our own cars to work. We own a house. We pay our bills and raise our family. That is what happens when you invest in yourself through an education(a real one), learn a trade and sell your labor to the highest bidder. And if you are fortunate enough to be in an industry like mine with a shortage of labor that bidding goes pretty high.
Stop listening to marxist proselytizers and get an education. Invest in yourself. Learn a trade. In fact, my advice in this day and age would be not to go to college, go to a trade school instead. The trades pay very well and you won’t be tens of thousands of dollars in debt with a useless degree.
Smarten up.
…Dude
@@bluewater454 u comment on a lot of socialist videos are u a troll? Because I can see by looking through ur comments u have had comprehension of what he was talking about through professor Richard wolfs videos about socialism and worker co ops he is talk about the majority of his time at work him not making money for himself but rather profits for the ceo because he has sold his time and labour and does not get the value of his labour back
Think for a moment that what would've taken our forebears many, many hours to print, nevermind distribute, socialist works that can now be accomplished with a cheap camera and microphone, no printing press needed. Which is kind of profound to me, as we've no real barrier to even international organizing except for our own failure to grab the opportunity and use said technology for our own ends.
"This explains why all nations characterized by the capitalist mode of production are periodically seized by fits of giddiness in which they try to accomplish the money-making without the mediation of the production process." (p. 137, Capital, Vol. 2, Penguin. According to the footnote, this sentence was added by Engels to the 2nd edition of Capital, Volume 2 (1893)).
Thank You , , ,
In addition to Fed money creation, Congress also spends money into existence.
I know... hmmm... how I wish our capitalism economic model have it's true name.. 😔
Quantitative Easing is an asset swap. It doesn't "create new money"; those financial assets were bought with money that already existed in the first place.
The Seniors and Disabled are hurting the most and neither party cares
He looks rather comfy in his old man's chair. He does not look like he is hurting. :-)
✊👍
what about pension plans for workers across Gringoland. Are workers rentiers?
Pensions for all workers through out the usa should be in place yes and what do u mean no they are not they produce no value the value it’s self only comes from the capital which they then might of had to work for but for example landlord are not workers what’s so ever they are parasites and should all get a real job or we will have a cultural revultion baby
27 comments on this channel, all negative. Why are you wasting your time like this?
@@DrynSarcastic360 hopefully someone sees it and thinks about it and it changes a slight perception the bolshievs books was only read by 500 people before the revultion baby steps before the movement comrade we can not just sit here and do nothing I also only do this in my spare time where theee is not much more impact I can have and to give my self a rest from reading
@@DrynSarcastic360 I think it can also solidify my learning and sometimes the replies I get either amuse me or make me find more subjects to learn about
@@DrynSarcastic360 just took me a few minutes but thanks for caring about my time
' The whole world is operating under a large ponzi scheme '........Brilliant lecture by Prof.Harvey
Did you notice how that Ponzi scheme has given you the very computer that you are posting on? It does not appear to me that you are, at all, aware of your environment, kid. ;-)
You are telling that : financial and merchants capital are not concern about surplus value 😳
As far as I know the profit of both are the share of each from surplus value produced in production
It seems that Marx put Hegel upside down and you are trying to put Marx upside down
Nah, he is just an old man whose brain is already scrambled.
Once we (the masses) figure out how to manage the blockchain then the financiers will become extinct
@David Collins I agree that Blockchain technology can be a game changer. But the flow of merchant capital and excessive state control to Decentralized Finance technology will just transfer the inequality there
Every time I listen to a podcast from someone living in New York, the intelligence of what they're saying is overshadowed by the unintelligence of paying such high rent/mortgage to be constantly inundated with the abrasive sounds of traffic lol
You really expect me to think your brain is working right when you choose to live that way??
What does choosing where you live have to do with intelligence? There could be an endless number of reasons for a person to pick a city to live in other than money. Employment, family, amenities, culture, vibe, projects, hobbies, etc.
By a different, equally ludicrous, way of reasoning, one could argue that he's more intelligent than others because he's able to articulate complex topics while "being inundated with the abrasive sounds of traffic".
Just listen to what he has to say and decide if it does or does not make sense to you. If it doesn't, move on. No need to discriminate
It was a flippant comment; I wasn't condemning Harvey to eternal damnation.
A NORMAL, WELL EDUCATED INDIVIDUAL UNDERSTANDS THAT SOME WORK IS MORE VALUABLE THEN OTHER AND THAT YOU CAN EARN MONEY WITH RISKY INVESTMENTS. ONLY THE STUPID MARXIST KEEPS ON CLAIMING THAT INCOME FROM USING CAPITAL IS "UNEARNED" AND THAT THE TOILET CLEANER SHOULD EARN FOR WORK AS MUCH AS A CEO DIRECTOR.
Your keyboard is broken.
Problem is not earning surplus pay due to risk uptake. Problem is that the share of surplus value going to labor has decreased over time.
The toilet cleaner share of pay divided by profit has decreased over the years.
The CEO's share of pay divided by total profit has increased over the years.
That's what brings long-term adverse economic inequality.
@@davidmutua4158 NO, PEOPLE ARE EDUCATED AT SCHOOL AND LEARN THAT HEAD-WORK HAS MORE VALUE THAN PUSHING BUTTONS. PEOPLE ARE ALL EQUAL BECAUSE THEY WORK. THAT A SMALL NUMBER OF STUPID INDIVIDUALS WANT TO LIVE IN EXTREME WEALTH, ON ETERNAL HOLIDAY IN EMPTY VILLAS, IS NOT IMPORTANT. IT SEEMS TO ME THAT MARXIST ARE CHILDREN WITH AN OVERLOAD OF COMPASSION WITH OTHER HUMANS (PROBABLY ALSO WITH ANIMALS)
@@marcionphilologos5367 Socialism doesn't advocate for everyone to do nothing and live in wealth, NO!.
Everybody must provide Value. It's only that In this kind of system we are living in some people get alot of the value that others have provided while others get alot less of the value they provide.
So will you tell me that you are okay with adverse inequality since "everybody cannot live in mansions"???
And those "stupid individuals" are important because they sap out the value from others.
The wealth they swim in doesn't fall from Heaven
@@davidmutua4158 YES, YOUR PROBLEM IS THAT YOU DO NOT UNDERSTAND THE RATIONALITY WITHIN CAPITALISM. AS AN ALIENATED INDIVIDUALITY YOU COME UP WITH ABSURD FANTASIES, LIKE AN COOPERATIVE ECONOMY ORGANISED IN A DEMOCRATIC WAY. DREAM ON, OR BETTER PUT A BULLIT IN YOUR HEAD.
i’m sorry but god i’m so sick of boomer marxists ngl