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The film is 1:44 minutes long but you really only have to watch up until the 36 minute mark when the q and a portion starts. So anyway, he goes through the time line of the American economy starting from the late 19th century and explains why government deregulation has allowed corporations to run wild. He even points out the specific problem and offers a solution. After watching this video, you truly begin to understand why people had more buying power in the past than today and it tackles the problem that everyone makes excuses for.
BTW, Anyone who considers anything written / advocated by Marx is not automatically wrong, just that they are on the losing end of a hypothesis / debate with about a hundred years of history -- Economic calculation problem - Wikipedia, the free encyclopedia
The film is 1:44 minutes long but you really only have to watch up until the 36 minute mark when the q and a portion starts. So anyway, he goes through the time line of the American economy starting from the late 19th century and explains why government deregulation has allowed corporations to run wild. He even points out the specific problem and offers a solution. After watching this video, you truly begin to understand why people had more buying power in the past than today and it tackles the problem that everyone makes excuses for.
BTW, Anyone who considers anything written / advocated by Marx is not automatically wrong, just that they are on the losing end of a hypothesis / debate with about a hundred years of history -- Economic calculation problem - Wikipedia, the free encyclopedia
The same problem that makes Marxism impractical is the same one that challenges capitalism... Greed
He hits the nail right on the head, and even takes you back 150 years to do so.
Too bad I wasn't there. :-) I would have asked some tough questions that he has no answer for.
1. Nobody forces the working class to work for anybody. They have the choice to work for themselves.
2. Nobody forces the working class to consume. They don't have to buy the iPhone, iPad or McMansionwhile on minimal wage. I make over $100K and I haven't even bought one, and I work in IT. When I bought my house, I have saved over 10 years and had enough money to pay it off on the spot.
3. Nobody forces the working class to borrow, either against their house or using their credit cards. They aren't using the money to pay for essentials. Most of the money goes into consumption.
I have to ask, where's something we used to call... "responsibility?" Where's the responsibility of every one of us? We have made the decision to do all these but we don't want to suffer the consequences of our decision?
It's like ... I killed someone but it's not my fault. My dad beat me up 40 years ago and my mom didn't make me dinner this one time, and it's the Republican's fault!
Too bad I wasn't there. :-) I would have asked some tough questions that he has no answer for.
1. Nobody forces the working class to work for anybody. They have the choice to work for themselves.
2. Nobody forces the working class to consume. They don't have to buy the iPhone, iPad or McMansionwhile on minimal wage. I make over $100K and I haven't even bought one, and I work in IT. When I bought my house, I have saved over 10 years and had enough money to pay it off on the spot.
3. Nobody forces the working class to borrow, either against their house or using their credit cards. They aren't using the money to pay for essentials. Most of the money goes into consumption.
I have to ask, where's something we used to call... "responsibility?" Where's the responsibility of every one of us? We have made the decision to do all these but we don't want to suffer the consequences of our decision?
It's like ... I killed someone but it's not my fault. My dad beat me up 40 years ago and my mom didn't make me dinner this one time, and it's the Republican's fault!
Oversimplifications.
The history of the US speaks for itself.
The reason you have a nice-sized home in the suburbs, are working in a safe/clean environment with fair wages working reasonable hours, your children can get an education for (practically) free, you can call the police/fire/ambulance for (practically) free, you can drive those highways to nowhere to your job, you have a safety net when you fall on hard times, etc. is a result of liberal policies.
You and others should try familiarizing yourselves with the history of this country.
The reason you have a nice-sized home in the suburbs, are working in a safe/clean environment with fair wages working reasonable hours, your children can get an education for free, you can call the police/fire/ambulance for free, you can drive those highways to nowhere to your job, you have a sfety net when you fall on hard times, etc. is a result of liberal policies.
You and others should try familiarizing yourselves with the history of this country.
I think I am familiar with it enough. Look, I am not promoting a completely free market. That would be disaster. Neither the free capitalism nor the socialism works. The answer is somewhere in the middle.
Regardless it's a family or a country, nobody gets rich by consuming. On the individual side, we need to promote individual responsibility and frugality. I am all for the school to change the way they teach people to work for others. Instead, they should teach how to work for ourselves. More importantly, we need to drop this victim mentality.
On the big corporation side, we need to set up right laws, regulations and tax structure so that they don't go out of whack while enjoying a nice business environment.
Personally, I am for a consumption based tax like Fair Tax while do away with corporate tax and income tax.
I think I am familiar with it enough. Look, I am not promoting a completely free market. That would be disaster. Neither the free capitalism nor the socialism works. The answer is somewhere in the middle.
Regardless it's a family or a country, nobody gets rich by consuming. On the individual side, we need to promote individual responsibility and frugality. I am all for the school to change the way they teach people to work for others. Instead, they should teach how to work for ourselves. More importantly, we need to drop this victim mentality.
On the big corporation side, we need to set up right laws, regulations and tax structure so that they don't go out of whack while enjoying a nice business environment.
Personally, I am for a consumption based tax like Fair Tax while do away with corporate tax and income tax.
A couple of other FYIs for you to ponder on...
The tax rates in the US are the lowest in history. Even with the higher corporate tax, there are so many god damn loopholes in the tax policy that NO corporation actually pays that marginal tax rate. Theoretically, the economy should be booming right now, no? Instead, we've lost 8 million jobs since the Bush Tax Cuts went to effect (I won't even get into the draconian Reagan tax cuts). This is despite all of the infrastructure we've built with a 70-90% tax rates, that still must be maintained. Of course, grandma won't go for the government cutting the SS/Medicare she paid for. Soccer Mom/Soccer Dad in their McMansions won't go for the government removing their highway they use to commute to work. We certainly can't just decide not to support our war veterans who fought for our freedoms.
Free Trade = No government regulation of international trade conducted by corporation. That's why millions of jobs have been sucked out of our country and have re-established themselves in formerly 3rd world countries. As a result, now that Americans have to complete with them for work, their wages continue to go down. There are jobs today that paid $12/hr in 1986 that still pay $12/hr today, despite inflation. All Americans should be upset and rioting in the streets that we allowed a handful offolks at teh top bribe our politicians into dragging down our standard of living.
The number of illegal aliens in the US has increased by 750,000 in 1970 to 11 million now. This is because the government decided that we should instead invest our time and energy in the faux-war against communism in the middle east, and that those poor illegal immigrants deserve a taste of the American dream too without having to go through the legal process like everyone else. Now, as a result of allowing these illegals aliens to just flood in, natural-born and legal American immigrants must now compete with them for jobs, as they will accept making $2-$3/hr, since they don't have an SS number and as a result (just like with unregulated trade) don't have to pay taxes.
The New Deal's WPA, which became CETA, was put on life support by Reagan when he first entered office and was abolished by Clinton completely. This program was something young teens and young adults could turn to if they wanted to gain some work experience during the economic crisis in the 1970s, and still earn respectable wages.
even Marx himself stopped believing in Marxism when he was old. his theories are dead on arrival. there are literally hundreds of books written on the subject. if you want to read one to expand your horizons -- I highly recommend Ludwig von Mises.
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