Today is the first time I've heard Grace Blakeley..... I'm quite impressed! She is so on target with what is really going on in the world since Thatcher and Regan baptized the dawn of capital greed at any cost to humankind. I'll be following and spreading her words wherever I think will do the most good. Brava!
it is sad that rich privileged people who aspire to be red fascists who have no clue what they are talking about try to buy votes by telling us "they are stealing from you vote for me so i can return your money" ... seen this story so many times before it is sad and boring
Dangling the ability to own some cheap Crap seems to be the promotion of Greed? The ability to become one of the Manipulators is the goal of Capitalism. How is that working so far?
I watched the entire thing. I just think she's not saying anything new. It's interesting but I've been listening to these arguments for a decade or more and with arguably more credible speakers. It's great that she is on mainstream media arguing these points though, fair play. Grace makes her arguments well, but I think there are others that have made them better. Really recommend Mark Blyth for example, Clara Mattei another. Not really a competition though, as long as the points are made.
@@Salon-no-mind so if someone goes to private school then Oxbridge that somehow instantly excludes them from being critical of the current state of capitalism? To be honest if we are going to have to wait for a state school kid (preferably someone who left education after the age of 16) to offer up an alternative we really are in for a long wait !
"It is very important that we reframe the way this crisis is described: away from being "a cost of living crisis" towards what it actually is: an inequality crisis." Gary Stevenson, wealth economist
Grace you are spot on. To implement an alternative political-economic system would require global cooperation. However, I would suggest this would challenge the convention of how human societies have functioned for millennia. Humans need to evolve or at least learn to control greed. Challenging conventions frightens people. It means change. Despite the fact change is a constant most people have an aversion to change. The reason is change is usually imposed. Personally, I think if humanity is to survive then human greed must be overcome.
I’ve been noticing that massive effort and expense is incurred to make sure private interests can do anything they want with their wealth. We cannot value things as a community or a democracy, even employment, food and housing. We have to incentivize and de-risk projects necessary for human survival. They won’t save humanity if it isn’t profitable. Collective action such as strikes are often restricted, but collective action of capital such as a recession is never questioned. When the rate of inflation exceeds the rate of growth, we have to bribe people with high interest payments to withdraw their money. To save the capitalist system from itself, we have to pay extra money risk free from the public budget to the wealthiest. In such a world, money always wins.
All the people on the planet keep risking their lives to come and live in free market economies. Every economy that has to bring in price controls collapses. I feel like these idiots don't look at the whole world, and yet they keep coming to the same idiot conclusions.
Grace and Yanis, Grace and Yanis... For Prime Minister of the UK and President of a new EU, respectively! I admire people who can elucidate ideas in plain, simple, straightforward terms. Thank you very much indeed.
Teachers are essential for our knowledge to develop an understanding of how we are manipulated. Great Teachers simply point out our stupidity and ask us if we enjoy the ignorance? Public Servants are an entirely different breed. But it does seem like a lovely thought?
I completely agree with everything grace said. And I've listened to several socialists speak but I've yet to hear anyone say how to force the capitalistic system to change to a socialist one.
The moment Paul Krugman, whom I view as an unreconstructed apologist for Wall Street, chimes in you know you've struck a nerve. A _real_ economic thinker and historian, Michael Hudson, has discredited poor Krugman. Moving on. Hudson agrees that the inflationary factor is the corporate greed of monopolies; they raise prices of basic necessities because, well, they _can_ . That's what oligarchs do in a monopoly situation... Sheer economic _terrorism_ , if you ask me. Be well.
But the issue is why they can raise prices. In the US, the answer appears to be excessive costs of regulation and insuring against lawsuits. I heard a CEO one time speaking candidly about the need to build a big war chest while growing a company because it’s necessary once you are perceived as a threat to the entrenched players. As a libertarian leaning moderate, I see this cry for price controls as statists whining about getting what statists created. The whole Left v Right paradigm is all a con game as the big corporations and both parties keep giving us more government and more phony free markets.
@@nunyabidness3075 "I heard a CEO one time speaking candidly about the need to build a big war chest" - That CEO was so full of it, it's truly a wonder it wasn't coming out of his ears!... Most of a corporation's money go into paying dividends to its investors, and then paying eye-watering salaries and bonuses to its directors and top management team. Another big cash-sucking hole can also be share buy-backs. There is no 'war chest'; that is a fairy tale story for the ultra-gullible!
Nothing she says is factually true. It’s all just leftist lies and ideology. Notice- grace doesnt live in a socialist country does she? No. Grace does g use socialism to sell books or videos does she? Nope. She uses capitalism in everything she does. What hypocrite
Intelligent & articulate she is - but merely paying attention will get you to her position. She had the advantage of meeting the "People Like Us" clique. I probably got onset dementia & I can see what's going on. While the poor slops are slaving & saving to buy just a home, they are making a loss to inflation, while their money is lent to prospective landlords cheaply. They are literally forced to subsidise those in a position to borrow, including would be landlords. The more money available to borrow, cheaply pushes housing prices up. In Australia the "Left Wing Biased ABC" refused to acknowledge Public Housing as a historically successful solution to keep housing prices affordable for everyone. They also never mentioned the casualisation of labor, the state intervention to keep wages low & how there can never be a BUSINESS MODEL to allow ANYONE with suppressed wages to afford a home.
Always impressive to see how a Socialist like Grace explains how bad Capitalism is to an audience not necessarily familiar with anti-capitalist theory and material inequality brought about by who we allow to own the means of production.
No one has mentioned, that money is like a wheel that goes around. The faster it goes around, the better it is for everyone. Compan😊ies or corporations have the biggest share, so they benefit the most. Being responsible is a cost that's part of it. What I'm saying is, when incentive sways business to care they will.
@@ianclark9198 she claims business price gouging when thousands of franchise & independant owners going bankrupt Big difference to revenue and net profit. The government crooks in my country luxuries tax to hell luxury performance cars " alchoal & ciggretes. 2015 BMW m3 in my born country $55000aud in Australia $75000aud fk the tax system the socalist leader cunt got pay rise of $586000 a year who wrecking Australia 16 months
@jakubantal2546 Prices are determined by supply. If the price goes up and profits are good, more people start supplying those products. The increase in the supply means the suppliers start having unsold products. To fix this, they then lower their price. That is how a free market works. With price controls, the profit remains low, so new suppliers are not encouraged into the market. The current suppliers are not bothered to invest in a low margin sector and eventually supply falls to the point of shortages. The suppliers are not worried about shortages. They only worry about profits and in a low margin business, no one cares if there are shortages.
We live in a system where people are kept in a state of constant anxiety, and greed is a by product of this. Finance, money is the greatest weapon of control and coercion ever invented and is far more effective than the masters whip. So we don't have a crisis of greed but a system operating within its normal parameters that one could describe using the greed narrative, or a particular side of the greed narrative. Though the greed narrative is thoroughly unsatisfactory. The West's demented thirst for total global hegemony doesn't help either, making competition and mistrust the primary values of the world market, with all the cost implications that involves. At the imperialist level Western ' democracies' are every bit as Bonapartist as the peripheral nations, and this is why talk of worker is too generic in the context of a world market, and leads to many erroneous conclusions.
@kieranpeet7167 "workers should be running the world." - Yes, we should. Unfortunately, our greatest strength is also our greatest weakness... Do you know what I'm referring to?
Very nice and simple overview, thank you! It is rare to find so much information coherently and simply presented as here. I am sure it will help many to figure out effect of political/ economy cogs and wheels in motion.
Economics of scarcity. Cheaper then consumerism. The dole is cheaper then having full employment, industrial policies. ...when one can control the money supply and money flows. Good job Grace, you are stooping to the public who deserves a more stable, better quality of life, not necessary more spending "power", this being very waste-ful. Stuff the "papers".
"Inflation" is the short form of "inflation of the money supply". The government can print money or banks can operate on a fractional-reserve lending system. It does not happen through either corporate pricing strategies or workers pushing for higher wages... unless those workers are paid by the government and the government "borrows" money to pay for their wages, as per the 1970's in the UK. Its pretty easy to look back and see the spike in "quantitative easing" (government printing money - inflation) and the ensuing rise in prices which causes the cost of living problem. It is very basic economics. The mechanism the government used to pay for / mitigate their disastrous covid policies (or indeed, running any deficit) is the same as currency counterfeiters use: "print more just for me so I can spend it on what I want." We should disallow it for the same reason as we prosecute counterfeiters - debasing the currency is the counterfeiter stealing value from your money, which is a store of the value of the work you have done. Fixing this requires reducing government activity. It probably also requires limiting foreign investment and borrowing capabilities. Controlling prices is not the way. Lower prices, lower supply. You also create coarse-grained legal categories which prevent innovation at the edges. If you limit the price of food, you're going to kill the organic food industry. We should be aiming for competitive markets.
The Fed and every single bank on the block has been _licensed_ to offer "credit," another name for legal counterfeiting. Every time anyone in the US borrows money from a bank, the bank creates it out of thin air... Be well.
To be sure, yes, there is among many business executives a commitment to profit maximizing; or, more specifically, stock price maximizing that results in their skyrocketed compensation. A major cause of all of this is the deregulation of the financial services sector of the global economy as well as systems of taxation that reward what economists refer to as "rent-seeking" over the production of goods or needed services. The solution is straightforward: tax rent-derived income and gains on the sale of assets. Unfortunately, those who get elected to public office have no real appetite for taking on the rentier elite. The direct taxation of rents has proven to be quite difficult politically. A less direct approach would be to lobby for an individual income tax that combines simplification with progressivity. What might this look like? Exempt all individual income up to the national median. Eliminate all other exemptions and deductions. All income regardless of source would then be subjected to increasing rates of taxation on higher ranges of income. This would satisfy the "ability to pay" standard as well as capture much of the unearned income that now escapes taxation.
The problems start and end with the No's of people living in towns and cities that are simply unable to support themselves without their artificially constructed jobs
Hi its Heman thanks for your analysis most interesting relevant and timely. As an Appiled Economist not educated at Oxbrodge correct me if wrong you may have either overlooked or forgot to mention ad part of your economic analysis that much of neoliberal economic ideas is shaped by neoclassical promarket economic theory which even thos recognises ad part of its pedagogy that excess abnormal or supernormal profits is a problem that will need tackling by reducing MR or marginal revenue companies make to bring into equilibrium with their Marginal Cost and assure effective free market operation. This needed expressing in more lay speak which I feel would have helped your argument and debate with establishment economists and their pro establishment political masters. Your reply would be welcome. Thanks
even in technology, Jaron Lanier's book "Who Owns the FUture?" points out that all benefits tend to accrue to the "top level server" (e.g. Google, Facebook, Amazon, etc.)
Inflation means less product in the market compared to demand, so by controlling very few i.e the richest you cannot increase availability of the products in short-term, but by forcing majority to use products wisely could make difference. Also water stays on top of mountain and roll down all the way into sea with ups and downs in term of amount.
F.Scott Becks’s book People of the Lie explains corporate motivation as simply to increase share values. No one takes responsibility for the lies. We’re living in a lie and greed is both the cause and the result
Totally agree with Grace Blakeley. My only question is who are those politicians that are pretending to be left / social / liberals but denying all of these terrible issues that we are all suffering from?
What do they teach at the Harvard Business School? Pay the average worker just enough to keep them from having to live on the streets but never enough that they can improve their lot and horror of horrors find a higher paying job. That is the reason workers never have enough. Meanwhile the "free market" is a cover for what is actually monopoly captitalism, crony captilalism and so on and so forth. To put it another way. Sh...t never slides up. It always slides down. You are either on the giving end or the receiving.
There's so many formulaic methods of explaining the works and means of capitalism and financial interplay that it all becomes gobbledygook to the average person and that's probably what it's intended to do The reality of the situation is the endemic corruption of the human being and the failure of the political system to realise that it's function is to work for the people leads to the need to obfuscate it's actual machinations behind a cloak of secrecy and sleight of hand Governments have sold us so absolutely into the hands of the most powerful that without total revolution, we can never get out. For instance, the institutions that lend money to governments are the same institutions that benefit from the crime of hoarding the nation's capital by unfair tax breaks. Ideas such as reducing capital gains tax and introducing " free ports" are the actions of desperate government racing other desperate governments to the bottom. We have seen the failure of governments to control the power of the oil companies in that price's rocket on pallid excuses and our power goes with it upwards but not down again. The same will happen with " renewable energy," having purloined or sold the family silver, governments beg private enterprise to help solve their problems and promise the world, our world, for the assistance of other nations or corporations. We, the people, end up as the economic prisoners of the most powerful and governments wring their hands and count their " bungs," whilst we suffer for their despotism
I've known this for years. Cartel behaviour is rife in business. The only time prices come down is to drive a a market entrant back out to oblivion and then prices go up again. It has happened to small airlines in New Zealand to give but one example. And of course the welathy own the shares in these corporations and that includes lawmakers who legislate to their personal advantage. "democracy" permits this behaviour. I could say an awful lot about the banking sector and the ridiculous practice of raising interest rates to bring inflation down; not only is that an impost on those who do not borrow money but economists conveniently leave the cost of borrowing out of inflation figures because raising interest rates is in itself inflationary and guess what what kind of a spiral would be revealed if interest rates were included in those figures. It also provides and explanation why economist's predictions are invariably wrong: they are operating on faulty and incomplete data. The nett result of all this perfidy could be summed up as "prices are driven up to the point where a certain proportion of people simply cannot pay more". The whole economic machinery is designed to ensure a flow of capital from the poor to the rich. A key principle behind the privatization of taxpayer paid for public "assets" in New Zealand such as the power generation network was to both boost the wealth of those who held the purse strings (movers and shakers, rich businessmen who were handed the management reins) and at the same time make the changes as difficult as possible to reverse in the future. A sort of coup d'etat which the public have been paying ever increasing amounts for ever since. Both a tragedy and a travesty. On housing - the most disingenuous argument raised by multiple property owners/landlords is that if anything causes them to divest themselves of their properties "there will be a shortage of rental accommodation." True of course but it also means that more houses will be available for people to buy to have a stable home of their own and not be funnellling the products of their labour straight into the pockets of landlords. It is interesting also that the Reserve Bank of New Zealand doesn't take increases into house prices into their inflation equations either. I wonder why?
She mentioned ''War in Ukraine'' multiple times as a driver of cost but you also should mention the economic war against Russia that cuts both ways. The West might can start an economic war against Iran while only taking minimal economic damages but Russia is a whole different heavy weight as the country is home to about 1/4 of the Earth's Resources in value and there was alot of trade and investment. Just one thing, Europe now pays hefty prices for fuels and energy, this dragged down millions into poverty. One can also mention the sabotage of the Nordstream Pipelines, which additionally made Germany and Russia poorer. Germany is the biggest trading partner for many countries in Europe, obviously there will be effects felt in other EU countries and also in UK, Switzerland & Norway. There is so many other things aswell but i'll keep it short.
All the things she talked about is happening in the United States too. Our housing is also being bought out by investment firms, along with our healthcare and other areas. How do we fight this if it’s happening on a global scale.
We are divided and then ruled. This woman speaks the truth but will almost certainly be ineffective. If she by chance does gain traction she will bought or silenced [in any number of ways]. Only when public pain is enough will there be any effective consensus amongst those fiscally abused. Regretfully, this will require revolution.
Do we the working class really need to wait until the eventuality of a violent rebellion. That is what these things bring about. The American working class, current,future,and retired are 98 plus percent of the population, and same same 98 plus percent of all eligible voters. Wow, with that knowledge one would think the working class would drop the BS, come together, and vote every corporate politician out of our governments at all levels in their own best interest towards a future of Peace and Tranquility in their daily lives. Everything dividing te working class is a wealthy oligarchy manufatured attempt to divide, conquer, and subjugate them. The idiocy of the whole thing is astonishingly.
That's actually the failed Marxist prophecy, that a revolution would automatically happen because it would be so obvious how capital subjugated workers and people's. It's false. We can be subjugated into the dirt and beyond and it could always get much worse. This is why you are supposed to take an active and daily role in resistance, your own life is supposed to be a revolution, and most of us are very far from that, ceding to capital in most of our actions everyday. But even so, vocalizing resistance, theory, strategy, whatever the case, it's not nothing. They don't have to do anything to actively silence her in our current environment, they simply don't promote her on their platforms in the first place. Resign yourself to resignation, our resistance will simply be bought and paid if it ever got far enough. Only a majority mass of beneficent elites would ever allow a revolution to happen for their own sake. What Marx was missing in his theory was that revolution would never happen and things would become more hopeless than he ever imagined.
tell me? where does Grace live? does she live in socialist nation? of course not. LOL. cowards dont live with their own failed ideas, they just preach them.
A very big challenge indeed, America had it started yet failed to adhere to their own plan. Their method was the only plan that would allow people to be free of both banking greed and corporate greed by a democratic process. Sadly america still has the wool over its eyes about this. Long story short, Socialism is not the answer to the problem,Communism is not the answer to the problem, monarchy is not the answer to the problem, dictatorship is not the answer to the problem, markets are not the answer to the problem, Anarchy is not the answer to the problem. America's republic with its Declaration of Independence and its Constituion are the answer to the problem, (yes its true) if it is adhered to as was it was intended ,discussed, and voted on by the people through their representatives to be done. Yet it is not done. Failure to follow through leads to banks and corporations and the 1% having the real sovereignty not just in america, but for the whole world. Study,research, do your homework, think for yourself, And when your really ready to effect some changes in the direction of improving the human experience, then help america get back on track. America is the only dog the world had in this fight for freedom. And still is , once they find their way back to the path of freedom. The mechanisms are already in place if they would just be exercised.
If only people were educated to understand how banking (not building societies) actually works and that the financial crisis was not the loss of people’s money- that was a total lie. But the financial crisis was really the banks spent all their money NOT the clients money and therefore the banks could not pay the wages of the staff that would normally be the administrators of allowing people access to their own money. Imagine an auction store where some of the products are made up (loans- Yep are actually made up !) and yet the owner of the business spent all of the money on a fancy car that blew up the moment the key was turned. The clients can see their items through the windows they just can’t get to them cos there are no staff. So yes it’s complex but it is possible to get all the goods back to their owners and even have some people let off their liabilities- the balance sheet is the banks balance sheet and they made up the loans anyway. Notice in all the events no one had their Loans written off but you could have your savings written off.
Seems she is neglecting a major factor in causing inflation, namely money 'printing' ( QE) by the Central banks working in conjunction with the large commercial banks.
You need to build on and scale up the ideas añd practices of consumer and producer cooperatives and scale up operations of organisations like John Lewis Partnership. Heman
Just pay harder or o, greedy will REALLY depression you untill you die slowly. It's rediculous for free pollution profits gouging and scooping out greedy glomb.
RE: 57:00 when Grace talks about whether we need the layer of capitalist ownership workers who get everything done.... I'm just trying to grapple with this not make a statement.... I guess the problem I see with this is stuff that would never get done because of not having an accumulation of capital to initiate. That seems like the sort of unique thing that capital provides. But then if there were actually capital markets but they were just publicly run, then one could imagine workers co-ops applying for capital from the public capital markets. I don't know it doesn't seem like a full replacement. I'm thinking of some projects like maybe computer chips or things that are really complicated where you might have small groups of people that are invested in it for a long time before the operation becomes, well operable to the point where it's actually involving a workforce. So in those cases does private capital provide something unique and intrinsically necessary to that sort of innovation? Open to suggestions....
I have not got to that part of the video yet, but actually i am in that situation my self. Ive got a small tech start up that has taken a few years to build the software. Uts taken years because my partner and i have done 99% of it. Ive allways said give me a measley 200k and id have it up and runing in months with a small workforce. So in my experuence stuff still happens, just A LOT slower! However, the concepts is my baby which i believe in. If the goal was simply wealth accumilation maybe/prob i would not bother.
@@adambrickley1119 I did web programming for a bit. Made a few retail websites but I was more interested in database implementations and writing interfaces out of javascript. Got out and went into another field because the environment seemed to be changing under my feet. How can you take years to do a tech startup and have it still be relevant? Good for you bro. No better way to shove it to the proverbial man, to the pressures of conformity and racing around to buy stuff we don't need than to take the time to do it your own way.
Andrew Bailey's handling of interest rate hikes in recent months has been a complete train wreck and a lot of it is to do with the fact that he hasn't taken any input from working people!
Concentrated wealth is a more apt term than "big corporations", but I truly appreciate the awareness building on this root cause problem in achieving egalitarianism and basic quality of life.
The cost of living crisis is caused almost entirely by currency debasement. If a country dilutes the currency by a percentage, then that currency loses purchasing power by that same percentage. 30% of all the money that has ever existed in the U.K. was printed since 2020. This is overwhelmingly the reason for the cost of living crisis. If a country prints money and economic output doesn’t increase to meet the rate of printing then the value of the currency is debased…it really is as simple as that.
I should go through the whole speech, before to comment properly, but I am worried that the title may suggest that could be a difference between responsible capitalism and 'greedy' or financial or speculative capitalism. This would not be the best way to understand capitalism and modernity.
Grace is a Marxist so no, that is not the point of the talk. The title just seeks to point the finger at those responsible for the crisis. Calling it the cost of living crisis just makes it seem like it is coming from the sky gods and there is nothing we can do. But pointing the finger at greedy capitalists is putting the blame where it should go, at real physical people we can question and fight against.
What is responsible capitalism? Capitalism is the means of production are in private hands, not the govts, and this means the consumer can consume as much as they can afford, freely because it's a free market. Does the greed not reside with the one consuming?
@@antonyjh1234there is a difference between need and greed. On the whole as far as capitalism is concerned a corporations approach is more closely aligned with greed, and a consumers approach is more closely aligned with need. I don’t think it’s so easy to say that all corporations are greedy but like wise it’s not so easy to say every consumer is greedy.
If we were talking need vs greed would we need most of what is produced? How many of us have more than we need? The only thing about corporations/businesses is that they are designed for profit regardless of need, as soon as the satisfaction of needs disappears then are we already in a territory of greed and that there are more consumers than producers.@@VVattonEarth
Also, being that greed is driving price inflation, that means more profits going to the top where they will go straight into assets and asset inflation, which will drive further increases in rents and house prices making the inflation double
Price stability when there's more money entering the market, how? Democratise the central bank, spread the profits to everybody and then what is the point of profit if the profits come back to everybody? How do we change from a debt based society where value is based on the same amount of energy being used during the term of the loan? How do we change from the debt based system where banks make 100% on the loan and govts take 50% of our working lives in taxes and fees and yet we don't have anything of value to depend on when getting old because of central banks and govts choices where money goes, into more jobs and more consumption?
If markets where managed differently; had different rules. Then an overflow of investment would either not be allowed or not have the same effect. Share the profit? Yes, some to people, some to infrastructure, some to health, some to education and so on. You do know that a lot of services are close to collapse due to lack of investment? Change how money is created? Because we find it difficult to imagine it does not mean we should give up. There ARE SOLUTIONS OUT THERE.
Nixon ran price controls too...instead these days where wage inflation is only mentioned...LoL.. minimum wage existence is an existential crisis for Republicans these days.
These companies need to be broken up. This will increase competition and will hopefully keep profits modest and prices reasonable. Unfortunately, both parties are subject to corporate power and so people will need to engage in protest to force politicians to respond. Otherwise, it will only get worse. I personally favour constructive non-compliance as a form of protest rather than demonstrations. Why? Because the mainstream media can just choose not to cover a march.
Generation Z is the smallest generation EVER in history. We are entering a 15+ year shortage of workers. Corporations are going to be desperate to attract and retain enough workers to maintain operations. AND, we have a consumer based economy, which is a problem if you have fewer consumers.
Thanks to RU-vid Algorithm to introduce GRACE BLAKELEY❤️, will definitely grab her latest book VULTURE CAPITALISM👍, do agree with her on “ How capitalism enslaved us all”
We have done Grace , but you are talking to a post austerity audience who abolished 0 hr contracts 8 years ago & spent a ton of cash on education whilst also engaging austere measures !!
Does anyone know of a credible author who’s written a book(s), current(?), on the topic of “corporations purposefully constricting supply” (for obvious reasons, aka market monopoly or profit gains)?
I wish questions would be taken one at a time. Grace is answering them properly but often it is a way of letting speakers avoid issues and it makes it far harder for the audience to follow.
Not sure her opinion on landlords is correct given the laws protecting tenants and the requirement to provide acceptable living conditions. Taxes, utilities, repairs, renovations, and mortgage obligations have to be paid for.
Don't worry because the World Economic Forum and United Nations have already addressed the issue of production and consumption via the new form of capitalism called stakeholder capitalism or Environmental, Social, and Governence. You may know this or not. The United Nations was founded by socialists. Although, I disagree your analysis of inflation in the United States. There are food shortages because of weather and the change over to Green fertilizers, which do not produce the same output. Farmers also lost crops due to rain. They lost their crops, These are small to medium size entities. Many companies still give people yearly raises based on inflation in America, and America doesn't have a class system.. The last 10 companies I worked for in America give wage increases. The cost to an organization to replace a new employee is astronomical. Companies pay a price for employee turnover. While your greed argument is interesting, it is thin, biased and over simplified. I find your comments about right wingers very disturbing. I will keep listening to these podcasts because they are enlightening to the mindset of socialists.
I love this! I just read something by Jennifer Hinton about the transformative power of Non Profits actually competing in the marked place. A growing ecosystem of cooperative non for profit business could render the for profit sector obsolete. I would have loved to be there to ask Grace about this idea, I was hoping that she would mention the non for profit sector (not the part that depends on charity therefore it ends up un greenwashing but the competitive side of it like IKEA for example)
@@sisterg733 no come back huh? LOL. arguing for socialism via truth and facts is impossible dude. Capitalism wins every time. the world is a much better place because of the rise of capitalism and the down fall of socialism. nice try though.
In the U.S., the issue is government and corporations colluding… that’s what allows the corruption in the markets. They work together. There is no way to totally eliminate this partnership, no matter if the economy is communist, socialist, tribal , or capitalist. The more people that are allowed to participate , the larger the private sector middle class. The larger the middle class, the less power the government has to choose it’s favorite corporations. That’s the best you can do. But if you want technology to advance, you need lots of greedy capitalists . It’s how you get your electricity to turn the lights on, to run your lectures and your microphone, and have enough of a tax base, to build the universities you teach from.
In the US corporations figured out they don't have to buy or bribe every voter. It's cheaper to buy a slender majority of elected representatives who will enact laws dictated by corporations. Wake up! Be well.
If you are interested in the scourge of capitalism, or have never questioned it, you will enjoy the presentation “Crisis and Openings: Introduction to Marxism” by Richard D Wolff, an Emeritus Professor of Economics (Yale, Harvard etc). Don’t be put off by the word “Marxism” (especially if you are an American) because you are frightened by it. I am not suggesting the fascism and totalitarianism that you might imagine. The presentation explains how capitalism works. People need to realise there is an alternative and, no, it is not the USSR. It is enterprises like “Mondragon” where the people who make the money get to keep more of it than they would under capitalism.
With corporations price gouging the consumer workers profits are down .. this has to be solved by raising wages for workers to maximize their profits . The cost of living going up will cause a diminish spending curve and the need for less workers . This will perpetuate the situation … wages have to go up to maximize worker profits that is how a free market works . The economy has to start from bottom up .
You could be in for a long sleep i'm afraid. Mandelson, Starmer, and Reeves won't make things any better, they could even make them worse for ordinary folk ( both in the UK and worldwide) trying not to be killed with New Labour's incessant warmongering driven by their arms industry sponsors.
no on pushing socialism deserves the description of amazing. she is such a coward that she lives in a capitalist nation, not a socialist one like she thinks we should all be forced into. sick
A typical collective western educated economist explanation of inflation. No no no... inflation is a necessary process to keep the fiat money printing (liquidity) going. This keeps the ruling class liquid while the ruled (collective west citizens and businesses) work harder to CONSUME and PRODUCE for the ruling class!!!!!!!!!!!!!!!!!!!!!!
It's all a ponzi. Money is phoney and has absolutely no value but everyone believes in the phoney coupons. Stop paying taxes, throw away your monopoly coupon money and convert it to Bitcoin. It's your only way out as the head of the ECB stated years ago.
@@MichaeldeSousaCruz from a tiny proportion of the massive profits of mega corporations are making out of this 'cost of living' increase they are using the Ukraine war to justify, that's where. There should only be one tax, no VAT no council tax nothing. 1 tax, and it's about time we stopped the exponential increase in the number of billionaires lately by taxing the shit out of the top 1% and spreading the wealth.
@@katreades-kt8jv Before Thatcher the tax on people earning huge amounts was progressively higher and a lot. Nobody put them back to the mid 70s tax rate tiers after Thatcher. People making 100s of millions need to be taxed much more, and no deals should be done for a discount.
