Class 3: “Globalization, Tech & Future Work” by UC Berkeley Professor Reich
ฝัง
- เผยแพร่เมื่อ 5 ส.ค. 2024
- Welcome to the third class in this 14-week series.
Today we will get into questions that continue to be vigorously debated - the effects of globalization and technological change on widening inequality.
The questions we’ll be exploring today are: Can the effects of globalization be separated from those of technological change? How have they interacted to widen inequality? Given these effects, what are the major categories of jobs now and in the future? Why have low-wage “personal-service” jobs replaced higher-paying “routine production” jobs? Why do college graduates take “symbolic analytic” jobs? Why are all jobs becoming less stable? What are the consequences of these trends for politics?
If you wish, I’ve shared some select readings from the syllabus for you. They’re available at:
robertreich.substack.com/p/cl...
Class Outline
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00:00 - Recap of the course so far
07:38 - Introduction to Week 3
08:55 - Consumers, investors, and the new corporation
18:31 - Globalization and technology
40:05 - The 3 categories of jobs, and their futures
54:05 - Race and education
58:14 - The growth of the "gig" economy
01:10:55 - Politics
Putting this class up on TH-cam is a brilliant move. Thank you for giving those of us without ready access to UCBerkley the chance to listen to unbiased reasoning about why the gap between wealth and poverty exist. You have helped me think about it in ways I hadn't considered before. Let's hope you aren't shouting into the wind.
He's not ;)
UC Berkeley unbiased?
@@michaelcap9550 Unbiased, maybe isn't the best word for an economic course. Well reasoned/argued, with due credit to people he disagrees with? Absolutely.
@@michaelcap9550 Every individual and institution has a bias and anytime someone claims to be unbiased, it should set off alarm bells.
😊
Prof. Reich is a national treasure! Thank you so much for making this available. I'm only 3 classes into the course and I've already learned a huge amount!
It’s all BS. If you really want to learn something look into real economists like Thomas Sowell or Walter Williams
Awww
@@davewatts2092as
@@ismaelramirez4803 Were they the secretary of Labor for 2 administrations during some of the most prosperous times in american history. I think not.
@@ismaelramirez4803 i’m curious if you have any specific critique of what Reich is saying. preferably not about what he’s not saying but specifically about what he is actually saying? if you have a “he gives a list of these three reasons for X, but completely ignores this fourth reason” critique that’s fine, but “why doesn’t he talk about Z?” is too vague and may not even not be true, if he talks about it elsewhere
you do of course not have any obligation to comply, but it would be educational to get a direct opposing perspective on these lectures which i have personally found very well argued and though obviously biased still seem to try to include opposing viewpoints as well
a vague “listen to these people instead” can be somewhat helpful, but more direct critique of the actual content is a lot more helpful, especially since you explicitly said that “it’s all BS”, so you have to have something concrete that you disagree with, not just that you dislike the person, right?
Our entire country needs to watch this class series!!! Thank you!!!!
My thoughts exactly
Nahhh. Any democrat politician says this shit. It’s all leftist nonsense.
Thomas sowell would rip these lectures to pieces.
Robert, you are AMAZING!!! You make economics so much fun! I love your using your French Designer hips as a point of globalization! Thank you for making this class available to all of us. I for one appreciate it so much!
Thanks always for your hard work in educating both your students and the public as to what has happened, as well as what can be done to create a more equitable system.
This was interesting. As a white male without a degree, I worked as an actor/stunt performer/prop designer/animal wrangler, until the contract was dissolved by the other party involved through some very clever wheeling and dealing. Every job since then has, unfortunately, been in service industry, as, without qualifications, and unable to get back into the contract work I had been doing previously, I still needed to make ends meet. A relocation back to my country of origin actually meant reduced opportunities for performing in the field I previously had been in. The geographical availability of various types of work cannot be overstated. In the UK, in order to work in the field I had previously made a good living in, would fundamentally mean working as an unpaid intern! (Performing arts jobs in the UK that actually pay a living wage/salary are rare as hen's teeth!) To go from earning what amounted to hundreds of dollars an hour to earning not even enough to keep financially solvent was a horrendous process.
Once again, very informative and intriguing. Knowing what is going on helps a lot but it also upsets me and makes me angry with the government here in the UK where the poor don't eat and the rich just don't know what to do with all their money but still want more.
Right. I think it was Elon Musk who said he would solve world hunger if he knew how but it was a problem no one could solve. So someone responded with step-by-step instructions on how he could solve world hunger and he back pedaled so fast.
Cçcç. C
😅😅
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Oh shit...sorry yo learn that. The US is likely the worst on the planet...but those maggots need to eliminated. They are a huge threat to mankind. In OT times God had zero tolerance for them I mean zero.
I'm learning too much about America from this course. I feel like a lot of this I should have already known, but I'm still sitting here amazed at what I'm actually learning. It makes me ashamed that this stuff isn't common knowledge.
Nahhh. Thomas sowell tells the truth where Robert Reich is a leftist liar.
I also greatly appreciate the opportunity to hear these lectures. Very informative! I remember hearing Robert Reich say that he is not a class warrior, but rather a class worrier. I am too. I love our country and don't want to see it destroy itself by destructive political conflict.
The worst states follow roberts ideas. Hmmm
Love having access to this class! Thank you!
Good God Almighty this is powerful information. I’m 32 and almost everyday I regret not going to college to get this type of information. Although I’m back in school now, I wish I had taken it more seriously when I was 18. I just hated core classes and wanted to skip to the good stuff instead. Core classes still don’t make sense to me, but I’ve learned hard lessons about being rebellious. I now choose to submit myself to a formal education and earn my way to an office, instead of being a hard working laborer, and earning my way to a top paying machine.
Dude. This is leftist propaganda. Listen to Thomas sowell instead.
Thank you so much for sharing these classes!!! I am learning so much and trying to keep a more open mind!!! 37 years old, I never went to college but these classes are making me feel smarter already!!! Again, thank you so much Robert. Big fan.
Very illuminating class! This course is so educational and informative. Thank you!
7/20/23 ❤❤❤Thank you!❤❤❤ I am 64, I have learned so much from your lectures❤❤❤Sending LOVE to our Global Family! LOVE LOVE LOVE - always retain your COMPASSION find the humor❤❤❤
How is compassion working in leftist states? It’s not.
I appreciate the research on this subject done by Robert Reich, and always learn something new with his commentary. I never thought about the role hedge fund managers played back in the 70s, driving the short term profit focus for shareholders over long term healthy business planning. This concept appears as an looming issue for many of our current economic woes; I hope that one day our communities accept that we can live with less non-essential products, and need to pay a little more for products produced by companies operating with fair wages and an eye on the long run health of their company and our society.
Another superbly researched, organized, and presented lecture! Mr. Reich's thorough knowledge and analytical abilities are combined with a sense of humor and a wonderful public speaking and presentation skill set make these classes "must-see" content. If more people in this country were able to see and absorb this content, there would be a greater understanding between all of us, but especially between voters in red and blue states. The social, political, and economic factors that are so critical to our current state needs to be communicated more broadly. Education is indeed power - and we need to educate more people in the U.S.
Everything Robert says here omits anything from the conservative perspective.
Thomas sowell would destroy Robert in a debate.
You make a fair point. Here's the thing; I'm an independent, I am not a registered Democrat. I loved Reagan, and I voted for George H.W. Bush - but the conservative approach that was once moral and decent and tried to be fair has morphed into immorality, indecency, and advantage to the rich. And to be blunt, the trickle-down economics of the Reagan era never materialized - the gap between the haves and have-nots has increased. Reich's view may or may not be slanted in one direction, but the data he provides to underly his position is compelling and accurate - if conservatives really cared, they would admit that some of those policies of the Reagan era did not work. They would look at data like this and alter their stance. That's what intelligent, self-aware people do - they change their minds when the evidence shows otherwise.@@ronaldreagan-ik6hz
@@user-bc5fr3sb3l
I am really fascinated by those that discredit trickle down - especially when trickle up (ie biden) clearly doesn’t work does it?
The trickle down of Reagan worked great for responsible people.
Trickle down provided opportunities, but lots of people ruin their own lives through irresponsible spending and lifestyles. Then liberals blame republicans and capitalism incorrectly and dishonestly.
Would you agree.
@@ronaldreagan-ik6hz he still raises a lot of interesting questions that conservatives tend to avoid talking about and shows a lot of interesting data that conservatives tend to ignore
the most fucked up cities in America are run by democrats. i know -- i live in the Seattle/Portland area. Democrats like robert have really messed up these places.
@@asdfghyter
Man, interaction like this would have made college courses so much better. At least something's are better today
Thanks for sharing these lectures!!
Love this series. At this juncture, I want to ask about the machines. Mechanical labor concentrates the benefits to the capital owner who funds the robots -- a story as old as John Henry. How then do workers retain a stake in the productivity of industrialization? "Unfriendly takeovers" seem a fig leaf covering this real source of inequity. On the other side, why does not competition drive the costs down, increasing consumer access to the growing GDP?
Okay, I can't hold it in, I freaking love this guy 🤣🤣💕❤️
Brilliant. We cannot be where we are without having been where we were. Here is an explanation.
Thank you! This is just plain wonderful to follow and then ponder on. I appreciate being able to do this!
Best class yet. I especially liked your final
Ooof. All of this was 100% leftist perspectives
I have been working as a gig contractor for 15 years now. I cannot find a full-time job. I do work in IT, I don’t have a college degree nor a high school diploma I taught myself. The thing about these gig jobs is, it’s killing me, I cannot get health insurance I have nothing in savings and even though you know I make $80 an hour with the contract only last for three months and then it takes me another three months to find another job or six months. It is just horrible.
i wonder if it would be possible for you to find a job in an IT consultancy as an in-between option? for the customer it’s basically the same but you would have a more stable job and the consultancy would help with the job-searching
if you know others in a similar situation, you might be able to start a consultancy together so you can help each other with the job searching process and help each other with providing stability?
i don’t know if any of this would be viable for you, but where i live that seems to be the most popular option and it’s at least better than the full gig work situation
Your titanium hips used to be made in Indiana. They're made overseas now because 1) it's hard to sue foreign companies, and 2) investors were willing to park their money overseas. However, Germany is de-industrailzing, so in the future, Germany will not be your source for hips. Production will move again.
i cant thank you enough for sharing your wisdom
Wisdom? On this leftist bullshit? Lol
I agree and this is reality. Thanks Mr Reich. Merci
This guy is such as asset to the world
So grateful for this opportunity
Puke
I hope he covers how these "hostile takeovers" became possible. Does it mean that a bigger company has the right to take over a smaller company even if they don't want to be taken over? How could that be legal?
Very thought-provoking lecture backed by convincing factual data! The map showing voting patterns in the last election is particularly powerful in illustrating geographic differences in populations. I grew up in small towns, where I witnessed major economic impacts to their overall survival. (My father's job took the family all over the country. I lived in 13 different regions of the US by the time I started college. The experience was not as provincial as some might assume. For the past 40 years, I have lived in a large metropolitan area and often observe how little people from either living situation understand each other.)
I wanted to add a comment about consultants: Numerous consulting companies supply individual consultants to other companies that are willing to pay highly for a required skill when needed. I started working in IT with a consulting company of this type, and I was one of several specialists sent to other companies that needed someone temporarily. I was fully salaried by the consulting company for 40 hours a week, and I had standard benefits of a full time employee. Fast forward post Y2K, and my consulting company employer was downsizing and relocating headquarters. I found employment with a distribution company that needed full time IT developers. This employer sometimes brought in a consultant from an external consulting company when a specific skill was required. The difference I noticed for myself was training opportunities were limited with this employer, and I often determined how to handle unfamiliar situations myself (thank you, Google and/or IT coworkers). Small consulting companies provide training for their employees, but ordinary companies usually do not budget for this investment, since a specialized "temp" can usually be found. I understand the point in the lecture about independent gig workers being vulnerable, but rarely did I observe an independent contractor or gig worker working in my most recent place of employment. (Retired last year after 21 years with them.) Just thought I would add a point about fully independent workers that they seem less commonplace than consultants who are part of small consulting companies. Employees are indeed shifting towards temporarily hiring outside consultants versus hiring highly paid full-time IT employees, and that point is well taken.
Thank you for providing lectures and reading material! I carefully study material before each lecture (so have not officially earned the certificate provided at the end) and then actively discuss key points with friends. I want to ponder major points in each lecture before moving to the next.
Half truths all from the leftist perspective-isn’t factual data.
Awesome video and presentation!
high risk, insecure pay rate, opportunity for advancement = "come on, give me a discount, I'm paying you in exposure!"
The only fair way to accept payment in exposure is to demand payment up front, promise to hold on to it for a while, then return a portion of their money for every new customer they bring in within a set time limit. But also offer a tip regardless of time limit for every new customer drawn from their referral.
Why did wages stagnate in the early 80’s? It WAS unfriendly takeovers! Which up until Then was not permitted or was frowned upon.
Mr. Reich, this has been another extremely informative class. My takeaway today is that corporate - billionaire class in America is embedded in the country. The rest of us almost need a network or way of planning to recapture or become a force in politics and the economy again. The designs made by the signers of the constitution has been gamed by the corporate lawyers and amended to suit only their needs. I see America imploding in the future because of an ever increasing lack of democracy.
We are a constitutional republic genius
Thank you!
As a small farmer in the American midwest I deeply appreciate the comments around 50:00 regarding agriculture. However, the impacts felt in these rural and remote places should also be elucidated. The entire agricultural industry is moving towards consolidation. Small farms are losing out to big money. Mutligenerational wealth is being lost. People who are deeply tied to a place and way of life are being forced out. Skills are being lost. Manufacturing and small businesses are being lost. Rural investment is being lost. Brain-drain is occuring. Political and cultural diversity is being lost (there was a time in our history where rural communities were a hotbed of progressive ideas and political discussion), etc., etc. The impact of big money and policies that effect the consolidation of wealth make big waves that wripple out everywhere.
I am not a Trump supporter, but in the context of what i mention above, it's not hard to see why poor (admittedly, mostly white) folks in rural areas are angry and looking for a "political outsider" to speak for them.
Another factor that I imagine the class will get to is the role of big money in policy influence, AND how big money controls the narratives and information that is presented as most pertinent or salient. For instance, if the vast majority of Americans can agree that big money is an issue, and, in fact, want something done about it, why is this not the only thing we see, hear, or read about in regards to the upcoming election? I propose this is because big money is aware of the threat and, therefore, suppress what would have consensus while simultaneously elevating policy issues and news stories that divide us as a country, push us in to camps of democrats vs republicans, and promote the stories that the individual parties feel like they can win the election on. In other words, they distract us very intentionally to keep us from using our power as voters to change the system and take back control of the narratives.
The reality is, neither political party wants this to be an issue. They are, in fact, deeply invested into the flawed and unfair economic system. Worse than that, there are a lot of middle class and working class people invested in this system unbeknownst to them. For example, as a worker you may be offered some type of benefits package that has a retirement fund. That fund may be a 401k or some other tool for participating in and inflating stock market value (do you see where this is going). Additionally, if you bank anywhere, except for a handful of credit unions, your money is utilized to participate in stock investment, etc. We are all implicated, as Bob as stated, and often have no choice but to participate in a system that is actually adversarial to our common goals as a society.
Sorry for the rant. And sorry I can't add anything uplifting to his conversation... maybe, Bernie Sander 2028! Cheers
Corporate Raiders then known as Private Equity Managers and or Hedgefund Managers, began Hostile takeovers. and began threatening companies! unless they started maximizing share prices then they might be taken over by financial groups that would maximize prices. Faced with the threat of losing their jobs CEOs began to see their role in the corporation differently.
Thank you for this excellent, profound, yet, at the same time, disturbing lecture about how corporations, law firms, hedge funds have been capturing economy and policy making, also, over here, in my home country, the Netherlands, France, and my country of origin, Austria!
Thank you very much, professor, for this food for thought!
Kindly, allow me to add the personal expression of hope someone has reached out to you in the meantime to meet Dolly Parton in person!
This shift meant that Companies were spending less on workers abandoning their communities and substituting, machinery, and equipment for working people and outsourcing abroad all for the sole purpose of shareholder returns! sacrificing other commitments.
Economies of Scale: To keep everything the same “predictability” in mass production. Even workers had to be retained to ensure predictability. Which meant raises over time, lockstep increases over time. Jobs were stable and repetitive. careers were predictable and stayed with the company. anticipated wage increases over time.
1:07:02 What you have here... is a population density map of the US. Seriously, it looks like the patents are pretty well spread across the population. (It might be more helpful to see the map of patents per capita.)
Shift from stakeholder capitalism to Shareholder Capitalism 1970s to 1980s. Share price as function of reduced costs and increased quantity of production...at the cost of equitable employee and customer experience?
K Street i believe helped facilitate wealth disparity. The trump corporate tax cut was a big factor in that 8.3 trillion debt increase in the donalds 4 years at the helm. Professor please say it ,if we get more cash to the middle and lower class the entrepreneurial class will do just fine
About the system: Early 80’s theres a shift from
Stake Holder Capitalism to Share Holder Capitalism.
Q: Does the earth revolve around money or does money revolve around the world? If the former; are we poor every night and rich every day? The latter: better nets would cure suffering?
Down the rabbit-hole , brining oxygen mask, breadcrumbs and dynamite.
Tech Change vs Globalisation.
I caught this trick question but it's worth noting that "globalisation" of various scales has occurred multiple times throughout history. The study of international trade and economies over millennia is fascinating, but I think it's worth noting that technology enhances scale and interconnectivity, it does not so much permit globalisation as massively enhances it, and it does fascinating things to the question of whether isolationist policies or open trade policies are optimum. So I disagree that you can't have globalisation without technology, but I do believe that technology determines the nature of that globalisation and can have a profound effect on its potential value.
Which has Shrunk the most.
If we're talking raw numbers, I think routine has dropped the most. Many of these jobs have been replaced by machine labour, global practices, or other techniques of greater efficiency.
However if we're talking ratios and percentages I think it might actually be Symbolic Analytic, the reason for this logic is the idea that as monopolies/mega corporations increase, and the overall number of companies reduces, the number of jobs for a particular profession decreases alongside the total number of companies. Think of it like this, if there's a 100 movie studios, every one of them needs at least one CEO, probably multiple, but if there's only 10 companies, then less CEO jobs may be needed. Only 90 jobs may have been lost, but that could represent close to 90% of that category of jobs. Now of course this is based on a BUNCH of assumptions, and reality might actually be that one big company hires more than double the number of CEOs as a smaller company, but one large company hirinng 30 CEOs is still less jobs than what you'd get from 20 companies hiring 2 CEOs each, and in the industries I'm most familiar with this holds true.
So yeah, not sure which answer to give for this one. Raw numbers or % because I think the answer changes depending on that point.
HOW DO YOU COUNT HANDS THAT FAST?!
@@ONAROccasionallyNeedsARestart I think the video was edited to take out the time while waiting for voting polls
Good 👍
So instead of using tech and globalization to create a free market we exploit them to create an unfair one? Bringing up the standard of living is the point of a free market can’t we adjust taffies etc to level the field instead of offshoring jobs so ceos make off?
Automation productivity can and should be measured- I don't know why we assume it is perfect or even constant?
This guy is brilliant!
No. Thomas sowell is TRUTHFULL and brilliant.
Robert is just another leftist liar.
27:40 -- In addition to the German medical device plant having the personnel and equipment needed to fabricate the replacement hips with precision, it is also located in a country with a very strong labor laws and excellent participation in labor unions.
Not only are good wages preserved there, even blue-collar working class Germans take more vacation time per year than upper middle class Americans with very flexible and autonomous work arrangements.
It just goes to show that you can absolutely treat workers with dignity, and pay them a fair wage, while still earning a profit as a corporation.
And it also shows that labor unions are not a bad thing. Companies can absolutely not only survive, but turn plenty of profit, while employing unionized labor.
Although this is not within the scope of this lecture, having nationalized healthcare certainly doesn't hurt either. German workers don't feel tied to a specific employer just because that employer is providing their health insurance. They will choose to stay with (or leave) a specific employer, based on their working conditions being favorable overall. Another reason why an employer would be motivated to treat the employees well.
Thank you very much for sharing your classes, I am enjoying them a lot. If I were in your audience, I would ask you what you think about the US military economy. It is not an important variable to take into account when we talk about wealth and poverty since it is part of state policies and, as you say, politics and the economy are two sides of the same coin? If you have already written something about it I would really like to hear your analysis. Thanks again for sharing your knowledge.
How are roberts ideas working in democrat dominated cities and states? They are failing miserably
Excellent.
thankyou, professor
What can we do about this gig working, everybody in IT is on contract, we don’t work alone contracts. We have no benefits and it’s killing us.
I have been waiting to see if RR would present an alternate idea about the "suspension bridge" graph. This seems to be the last point he could have done it, so it looks like he won't. It could be that the "towers" of the bridge are normal and the deck (post WWII to 70's) is abnormal. That may not be a cheery idea, but that doesn't make it wrong. The explanation for this is that abnormal labor power coupled with massively decreased manufacturing competition following WWII in the US minimized resistance to wage increases. The point about the need for stability in a manufacturing facility supports this. I also think he has misrepresented the decoupling of productive gains and wage increase. Productivity gain is just an upper bound of what wage raises can be and has nothing to do with what they will be. The actual raises will be the least that the consumers of labor can pay. Raises were strongly linked to productive during the deck period simply because owners had to do everything they could to get a stable productive workforce.
i don’t think he would necessarily disagree with any of that, but the point is that we should strive to increase the labor power again so we can get back to them correlating. it doesn’t matter what it’s abnormal or not, what matters is what’s desirable
@@asdfghyter OK. Fair enough, if desirable is possible.
Stock buybacks were illegal until the Reagan administration made them legal. Stakeholder vs. stockholder valuation also mainly shifted in favor of stockholders in the Reagan administration. Both these things are controllable by government, but government has been put up for sale to the highest bidder via campaign contributions (bribes), and that is the root of the problem. All the myriad troubles that plague America now can be traced straight back to the sale of government to oligarchs and corporations. Put your government up for sale to the highest bidder, and the results are absolutely predictable. Unless you address this problem, your course is just hot air. I will continue to watch in hope you get around to the elephant in the room: the corruption of government by monied interests, fueled by a complicit media (the media is where the money finally ends up from those aforementioned bribes). The U. S. Government has been captured, Secretary Reich.
To paraphrase Bill Clinton: It’s the corruption, stupid.
I cant for Sure remember what class it was ! But one of his classes talks about the robber Barrens and the oligarchy system that was in play in the 1920s and also talks about 1971 an Lewis powell an the memo which was the beginning of punching loopholes into all the antitrust laws and the federal trade commission, an was the beginning of citizens united which was corporate united . An they set forth to buy all our politicians on both sides and they succeeded
❤❤❤Thank you!❤❤❤Love Love 💕 Love
WHEN a company becomes a CORPORATION it is only by accident that it serves the con(ned)sumer.
Corporations serve otherz. And otherz may be known or UNknown
That should be illegal.
😢
The Toyota vs. Ford comments were only partially correct. Toyota, for decades, artificially increased prices on cars and components made in Japan in order to keep profits and taxes in Japan. Thus, Toyota produced very LITTLE taxable profit in the US. And where research and design takes place is also very important in auto/vehicle production as Prof. Reich demonstrated regarding the iPhone. And that, for the cars Toyota sold here, was predominantly NOT in the US..
this is when free trade fails, you need import duties to protect American companies
😂...assembly of globalized parts by both US and non-US companies....can we achieve an index of embodied US labor as well as CO2e and MPG on the car window sticker?
Why are Doctors SO well compensated? CA's effort to outlaw hiring independent contractors strangles small businesses, harming job creation and intensifying wealth inequality in a winners take all economy.
Medical School is hard. You give up your 20s with at least 4 years post grad plus 4 plus years residency and maybe a year or two in fellowship before you even get started. Most doctors deserve their pay.
Doctors are not the culprit here. It's the unchecked hospital owners, insurance companies, and drug manufacturers that are gouging us all.
We constantly hear about "comparative advantage". David Ricardo is the political economic writer who created the term. It's a shame so few people have actually read his book. Ricardo clearly explained that "comparative advantage" ONLY occurs when capital is IMmobile internationally. Therefore, in this age (at least the last 40-60 years) of rampantly mobile, non-colonial, capital, "comparative advantage" doesn't occur and using the term is either ignorant or a deliberate fraud, a hoax.
I read "On the Principles of Political Economy and Taxation" and don't remember that statement. It was probably just assumed that capital is immobile.
Ricardo was a product of his times. Capital has never been "immobile," but may not have had the same velocity. Comparative advantage is everywhere. Locally, regionally, nationally and internationally. There would be no profits with out advantage.
Pity you left the power of unions out, and not showing by graph the assumption that wages have declined in real terms for the entire us economy. Furthermore when saying company rebought their shates,, true, somebody got the money who did, that money went back into the economy.
Markets were never really free.
They literally call it the "free market". The only time you feel the need to specify that is to distract from the facts it's not. Classic authoritarian technique. Attack education, and then when someone questions, if it's free, you simply state it's in the title...
Wrong. Everything we do is free choice.
The terms company and corporation are NOT interchangeable.
Companies DID serve people
Corporation (bigger and getting bigger) were at least created to ENSURE the previous company stayed "in bussiness" .
NOW today corporations ARE m.u.l.t.i.national. Their new motto could very well be: TAX ME AND WE LEAVE. to another state or another nation.
Not without a solution.
Remember their are still large numbers of people in the USA.
And patriots do NOT like their )))yes THEIR((( country being given short shrift.
Opinion.
😮
My opinion will always win BECAUSE i value my opinion over the opinionS of strangers.
😊
😂
At 56:50 and 57:11 he refers to a study by the st. louis fed regarding the drop in median income and wealth for Black college graduates. Does anyone have a link to the paper.
Thanks in advance
Chris
A a a anenemi
Hehe love your stuff
There are five major accounting firms in the world that have visibility into companies. What does it mean? Does it matter that companies can float around like the clouds in the sky, without any national borders? Competitively yes. In Europe, politicians like prices/wages to be kept down and stable in order to keep pension payments down. The EU then agrees to the companies' conditions and the competition does not come from upstarts.
How is productivity for symbolic analytic workers calculated?
So the lesson is:
1. Join the wealth Party by buying shares of the Corporations.
2. By owning shares if the CEO "buys back" shares your wealth grows just like the CEO's.
3. Thinking you are going to change Capitalism to include all your ideological fantasies is foolish.
4. If you are so determined to equalize the world, get to work on becoming a CEO and give away all your wealth to the poor!
3📍58:14
4📍18:31
How much of the $1100 iphone is considered US gross domestic product?
This guy helped the middle class make a come back under Clinton!!! So we all need 2 HEAR what this man is talking about!!! And how the fuck does he have 3 (or more) hr. Long talks on this shit yet we don't all c this shit in daily life?????!!!
No surprise on the wealth gap , black continuously at the bottom, coincidence? Not likely.
22:21 nice idea, not sure it worked out.
31:25 this is quite the rabbit hole to go down, but a Camry is basically one of the most American made car but part count there is it's built in NOKY.
what category do trade jobs fall into on the chart at 49:39? By trade I mean electrician, plumber etc.
P.S thank you for posting good information for the masses NOT behind a paywall
This is all very leftist biased.
@@ronaldreagan-ik6hzthat’s rich coming from a fake account named after Ronald Reagan and who’s only objective is spilling hate, trolling and share dumbed down right wing propaganda without even trying to present a decent counterargument or discuss anything that has been said.
I would imagine trades are a subcategory of in person, non manufacturing. You can't easily scale how many jobs you can do and it requires your physical presence.
1:14:10
I concur with your interdependence of tech & globalization, as during the pandemic, my own skills to listen and collaborate cross borders allowed me to aid in the management and advanced test for treatment of COVID19 based on my past training and clinical experience. I can say with confidence than even as the pandemic raged on and my software was trying to keep up, caused my hard drive to burn to the ground, forcing me to obtain at my own cost a new bare hard drive and reinstate much of my past health care and policy history, before aiding leadership in the US National Institutes of Health, Integrative health care field. Yet, I was able to push a professional peer with a doctorate in pharmacology and traditionally chinese medicine, to participate in the discovery of potential treatments for the new COVID19 version of the SARs Cov 2 virus. This link which I was able to facilitate led to two research studies housed at UCLA and UCSD, and may still be in R&D now. These studies were funded by a philanthropic family in Boston, MA. All of this was accomplished without a dime paid to my company, myself which led to deep stresses on my personal and professional relationships. Yet lives needed to be saved globally. You understand, right @Robert Reich, professor? Now I must have some sort of remuneration in the way of monies to live, be housed and remain in good health, myself. Generous investments have been proffered to my use, however our banking regulations are blocking my access to those funds. Who do I go to for help in this important and timely matter?
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So if 21.9% of my dollars go to US for my iPhone purchase, what if I purchased the latest Samsung? Anyone know?
11:00--I'll guess Advertising ..
Don Draper / John Hamm ain't cheap
For added (late) rumination: The Constitution, baseball, jazz, advertising. Discuss ..
No insolence HOWEVER i am NOT your "we".
I listen yet take MY time to decide.
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I think the cheap labor argument depends on the product or service. For example, apparel, textiles and footwear. Most of the factory and manufacturing went offshore because it IS much cheaper to produce these items from the raw materials to the finished product off shore. And the cheap labor is deliberate, and the workers are impoverished. Corporate colonialism, endorsed by this country's geopolitical and monetary policies towards other countries and regions.
Policies made by leftists like Robert - force labor outside the USA. Of course he cowardly doesn’t admit that.
th-cam.com/video/8SZMUWP9wpE/w-d-xo.html Thats a fart!
But wait, comparing American wages to foreign wages of workers in Germany making precision orthopedic devices isn't exactly prof that wages in Southeast Asia or Mexico aren't cheaper than the US...
Attention Professor @Robert Reich, as your depict Services worker, your definition leaves out the area of which my own master's thesis was targeting~Remote health care diagnosis and treatment using technology, i.e. a PC with a detailed camera and audio which was most closely defined at authentic to human who was projecting their voice over the internet.The now certified nutrition biomedicine protocol has been used globally, although to a lessor degree during the pandemic for obvious reasons. Yet we are still preparing to relaunch in the economies which are advancing quick toward automation. We may convert our model to automation, however that may be costly and little used due to lack of trust in AI to make the right decisions, when it comes to actually breathing the same air at the same moment in time with our consumers. This is a matter of Trust, and I use a capital "t" specifically for this conversation. Now I will go back to class and determine whether or not this has come to your savvy attention.
Wow we don’t have to pay to get first class indoctrination 😢😮😅
Indoctrination smh. Can’t fix people who want to stay at the bottom while cheerleading the system that put them there.
I m Learning briliant JEr MAN very nice ortopedict designer predictability consultan ExternaL specialis,outsourching (pihak ke 2 modeL 1/2bumn atau privatisasi modeL 1/2kopertis wilayah adiministrat pppk)
No way I would ever take a course from this man because I don't believe a word he says. I believe his ideology twists everything he thinks he knows.
Changes in demography of the working force is not well illustrated here... In the late 70's well educated baby boomers (men and for the first time massively WOMEN) flooded the labor market which was not ready yet to absorb it...
Our biggest mistake was going Global. What did you expect? To sell more stuff?? You ALSO have to BUY more stuff from OTHER COUNTRIES. You don't win in a global game. It's a farce.
Jobs, Gates and Musk are stars because they are innovators, but I wouldn't call a CEO who is just following the same recipe (cost cutting, etc.) a star.
the shareholders and the boards do
@@landontesar3070 suckers
Then by your logic - coaches could just follow a book of plays. - but clearly some coaches are more successful, just as some college football players turn out to be flops at the professional levels.
These are specialized roles. Robert of course downplays them because he is completely a biased leftist.
Goodbye
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Professor is a hypocrite. He talked a lot about inequility but did not mention the main cause of it, the private ownership of the means of production.
And where is that working?
Why doesn’t Robert teach at a community college? Ohhh- prestige and bigger pay. Huh. Just like CEOs. Hypocrisy 😅
Perhaps he teaches at a prestigious because he knows the students there are intelligent/wealthy and will grow up to run the world.
@@loicb4880 roberts words are based on progressive ideological lies.
You want those running “the world” to do so based on lies?
My god progressives are educated idiots.
Or, the reach he has because of a UC Berkeley class for free on TH-cam is bigger. Prof. Reich is an excellent teacher, a subject matter expert and a great communicator. I'm glad it's here!
@@Buckaroo1971 he just completely lies about taxes- and who pays them
He lies about capitalism- and the overwhelming positives vs negatives
He lies about inequality- by completely ignoring that personal responsibility is the number one cause of income disparities vs an “oppressive system”.
Oh yeah. Robert Reich is a real angel. - what a fucking coward he is.
@@Buckaroo1971 democrats can’t ever make a point without using biased statistics about wealth inequality.
Because if they had the courage to get away from the overwhelming negative results of irresponsible individual choices- they would not be able to make a fraction of the claims they make regarding systemic greed, racism, and oppression.
Democrats entire narrative of oppression is built on pure lies and twisted statistics- then people like you celebrate that trash. How pathetic.
You May know about it, BUT why, with all of your political con.nections is it STILL around getting WORSE as you say.
Rhetorical.
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Posted but expecting to get attacked or banned. Or blocked
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