No One Should Have More Than 10 Million Pounds | Ash Sarkar meets Ingrid Robeyns 

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Also loved how she was able to say she hadn't fully thought some aspects/questions that Ash raised through yet, and not just fudge something on the spot! Really refreshing.

Nothing is black or white. I live in Poland and when communism felt, economy was ruined - people had money but there was nothing to buy. People had jobs but they didn't really work. Communism is sick system beacuse it promotes midiocracy and not doing more than average. What's the point of working harder if at the end they will take away your whole Income? You can't take away peoples money beacuse you think he earns to much, it's not you that can make this decision but market - he earned it beacuse lot's of people find his product/services usfull. Europe has mixed type, where some frigile sector as education, healthcare, culture is funded from taxex by goverment but other than that - let's allow people to clash with market.

PEOPLE OF THE WORLD UNITE ..✊.

Except for Greg... Screw that guy... 😂

PEOPLE OF THE WORLD UNTIE!

@@griffinsdad9820 dyslexics of the world untie!

LARPERS OF THE WORLD UNITE

Wages aren’t the problem, wages get taxed.

@@Vtwin_Superbikes I remember this fascinating story from many years ago about a wife of this one guy whose suddenly just dropped dead and she needed to contact her husband's lawyer to get part of her inheritance, TLDR : she get sucked into a private world of how super rich avoiding their taxes (by siphoned their wealth through a long chain of intermediary, turn it into real estate in developing country, Tax haven, etc.) and by the end of it she was completely shock by how much her husband actually owned and how EVERYONE in the elite world is doing it. So no, If you got paid high enough you don't necessarily get taxed.

Yes!!! That would have significant impact especially when we base it off of the minimum pay at that company

@@Vtwin_Superbikes ? Some wages are high enough to allow tax avoidance. Did you learn some Game Theory, Economic Mechanism Design, Social Architecture (applied on all levels from the middle corporate up), Social Choice Theory (which can be called mathematical foundations for any conceivable form of democracy)? In short, Ingrid Robeyns has made some observations, not terribly deep, to boot, and conjures some solutions which are not implementable. Aaron Bastani had a talk with Peter Turchin on this platform. Although far from open and honest it comes much closer to the heart of the matter. Such talks are falling ever further from doing the job they should. Rather than reading books, read scientific articles on the subject (Turchin published some and they contain few but poignant precious thoughts) Last but not least, how are you going to earn this symbolic 10.000.000,0 of some abstract monetary unit (proper formulation would be 5 bedroom/bathroom house in the suburbs, holiday home, private school for 2.3 (steady state reproductory rate), 2 full time holiday and 3 short brakes, two cars, possibly 15 feet yacht, other than serving some corporate multi billion interest? When the matter was being considered seriously, (1940-1960 as a consequence of shock which second total war in 20 years brought about on the intellectual class) the talk was about wage spread and the discussion was should it be 3.5 or closer to 7. Even with the spread of 3.5 (!) the problem of accumulation of wealth emerges. It requires a very carefully designed consumption policy to manage society within some limits of equality which do not "blow up" into extreme stratification. To come back to your original thought. Taxation as a redistribution measure is only possible when very moderate and will hardly ever be perceived as acceptable by most of society. The problem can be solved much more ease with engineering a relatively flat distribution. There are means in form of monetary policy allowing to bring some kind of rather flat distribution of incomes and wealth and is not beyond wits of an average person to imagine them. The mood of society now, though is to survive a day longer than your neighbour and this kind of attitude is not conducive to sharing some simple thoughts on the matter.

How do Marxists propose wealth redistribution, collectivizing farms, and taking ownership of factories without repeating a Holodomor or going full Mao? What a load of garbage.

I totally agree both with Ingrid and you. Enough has been replaced with worshipping greed. Kind regards to you, your family and friends.

@@Howeverwhatabout it is strange that the concept of enough has disappeared considering how everyone including corporations are so environmentally aware.

@@larrycoldwater1964 I hope you're being ironic. In commerce and industry, environmental awareness looks like nothing more than greenwashing for economic advantage to me. FFS, BP is an environmentally aware corporation! "Enough" is the antithesis of capitalism - when capitalism is totally depoendent on infinite growth. As for individual economic awareness, it's very rare. Just look at how the vast majority want more, faster, bigger, newer without any consideration of the consequences.

@@davidpalk5010 yes you are right. Capitalism demands continuous growth. A key indicator of this is the so called immigration crisis. Hordes of immigrants and refugees fleeing dysfunctional countries to the UK, Europe and the United States. Why? To keep the wages low and the rents high in UK, Europe and the USA. Population growth = economic growth. We are about to get 2 million refugees from Palestine to further expand the economies of UK, Europe and the USA. War = Refugees = 💰

It's only a matter of time until the elite are reminded of the consequences of having 'enough'.

That’s because we have a socialist Country that prints money to pay for a welfare system it can’t afford. That money printing is paid for through inflation since you can’t tax that much and get away with it so the hidden tax of inflation is used to steal the wealth of workers to pay for the masses. Government swells as a result and eventually the economy implodes. Socialism and the welfare state is the REASON we’re in a total fucking mess.

Thats because of inflation. Inflation is a Tax.

People have to be able to save a small amount to be economically stable. If you have no excess income then any negative change to your earning potential will then make your lifestyle unsustainable. You wouldn't be able to put large purchases on credit because the interest would push the repayments over your level of income. You'd have no way to attain a deposit to rent or buy anything. You couldn't miss a day of work or a bill bounces and you get a late payment fee and your entire life crashes down like a house of cards. Excess income is essential to maintain even the most basic standard of living unless your social safety net will compensate you for every penny of lost earnings you may ever face in life.

Yea, and the hoarded wealth mountain is the debt mountain of another guy.

I don't think fear and aversion are interchangeable.

​@@jannette8800they didn't use them interchangeably, really. Fear more often than not leads to aversion

MOST ACCURATE WILL BE .. …IN THE WEST IS MORE HIPED TO HISTERIA OR A FOBIA, AGAINST EXAMINING ONE SELF!

People have a problem with admitting it, as it has continually failed over time, in multiple different guises and geographical locations.

Communism can ONLY be applied via force. It is inherently violent and immoral.

Tell him that he got SCAMMED by market radical fairytales.

Don't tell Swifties they're getting fleeced

behind every fortune is thousands of stores, businesses, better standard of living

@@taperecorder3 - yeah you’re right. People forget that the wealthy are primarily motivated to do good things. For example: the Koch family produce goods and services that help people first and foremost. The massive profits they make are only secondary. It just so happens that the more good they do for people the more money they make. Capitalism is based on the principle that if you do two or three good things for people in your entire life then you’ll be rewarded with more money than you can ever spend.

@@villhelm if we used your way of thinking regarding the likes and dislikes toward a specific ethnicity/nation, as an Asian, I suggest You to stop using the (1) toilet (the oldest one was invented in China) (2) paper (China) (3) gun powder (China) (4) rockets (China made the first working prototype in the form of firework) (4) algebra (Arab/Middle East - ever heard of Al-Khwarismi) (5) numerals, 0 to 9 (Indian invented it and the Arab refine and spread it) The list above once again highlights my point. Our scientific and technological progress owes so much to the extraordinary people from different background, different nation, and different ethnicities. Again, we should learn from our past, the good, and of course the bad, and build a brighter future!

I’m not the one who’s complaining about colonial pasts and what was given/taken. You are. I don’t have a problem with my nations history, I don’t feel guilty one bit about it.

The wealth garnered by some western nations was pretty much stolen from their occupied regions around the world.... in apart yes in whole no..ALso they are still extracting wealth.THere is reaon why they crcuhed most of the world with mininal strneght .Tech and organisaion.FOr exampel dutch were known as rich region from middle ages.Dutch army woudsl have problem fighting my puny europena nation but kept millions of indoneasans under their heel on other side of world.Ask youself why. Beofe you accuse me of beign western apologetic-my coutnryu was bobmed by west 20 years ago and unlike most of colonised whiners we have backone and fight our opressors and had been fighting them for centuries.Ottotomans left my coutnry in worst state themn when they conqured us in 1459.440 year of occupaion bud.

@@villhelmYour sociopathy does not invalidate anyone else’s arguments.

@@villhelm why attacking the original commenter on such a low level??? You didn’t get the point he was making. The colonialism is still alive, just the tactics and overall way of colonising has changed. Just look a bit further into eg the history of France with Africa . To stay with the example. The northern hemisphere needs the global south to stay in that status quo in order to keep the living standard on level. This is not me saying but western economical and political analysts. For this there will be no real free and fair governance of those former colonial states. How come every nation pegs its currency to the dollar - yet that piece of paper hasn’t got any real backup (from their OWN) to make the value of it. Not really a considerable argument you made.

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If it's so successful then why does it always collapse?

@@Stoddardianhow has it collapsed? Cuba still exists, Vietnam still exists, China still exists too. Wtf you talking about?

USSR? The entire Eastern Bloc? and China is very capitalistic. @@AvelierPlays

​@@Stoddardianif it is doomed to fail, why do capitalist countries have to try to sabotage or sanction socialism every time it pops up?

JK Rowling is a market radicalist

Disparaging comments (not heard them) because you struggle on the welfare benefits offered. She donated a lot of money to single mother organisations with her early success. Also, as the interviewee says, she's hardly transphobic.

I left Seattle 6 years ago. I lived in a warehouse in the industrial district right down the street from Starbucks headquarters. That town's shot. So depressing watching all the flavor get pushed out in less than 15 years. It was so great once upon a time

I think both these things go hand in hand

You have to have both. They are causal

It was almost that in the 70s. Many professionals left as a result.

​@@user-hu1yi8ox9zdon't americas have to pay tax even if they work abroad now?

@@lukedegraaf1186It has been that way for a long time now. BTW I’m a US citizen.

@lefty-bw1zp well your government can chase skilled workers around the world for pocket change, they should be able to follow money to panama or wherever the next hiding spot it. Imo.

Just know that wall Street can now short water and make more money when our very limited drinking water dips to dangerous levels

interviewee lost me at this point, every analysis like this has to look seriously at land reform.

I was very struck by that comment too. You'd think an analysis/critique of land ownership would be fundamental to how we think about wealth.

Food for the thought; Does her wealth generated from her cosmetic line come from fairly employees? For each dollar she makes from her music; how much does the recording label make to invest on her art?

The market drove the prices down so far that it became uneconomical for efficiency, ironically. Unfettered capitalism is often a ridiculous system. And it reflects in the politics as well: it's a lot less effort to care or do the right thing.

And communism is even worse. Do you know if the one about the ussr almost wiping out the worlds whale populations, because of ridiculous arbitrary quotas? Look it up.

@@subcitizen2012 It's not that it's inefficient to repair something like for instance a bicycle that needs a fair bit of work, rather than just chuck it on the scrap heap to be melted because no one valued it enough to maintain in decent condition or to take time recondition components and rebuild. It's the externalising of cost the energy required to just melt it down again onto the environment and as such depriving the use of that energy for something or someone else.

We don’t have unfettered capitalism. We don’t have a free market, which is the cornerstone of capitalism. What we have is a fractional reserve banking system which creates a need for continuous growth, which is the driver behind throw away culture. If we had a hard money system, that wasn’t inflationary, all the problems would be solved. Unfortunately left wing commentators blame capitalism for the ills caused by a usurious banking system which is founded on central banks and money printing. Central banks are a pillar of communism/socialism not capitalism.

Its sooo expensive to repair.

you had me until the word "compete". There i think you're still missing the point.

Not only that...I think too much money and power drives you crazy.

But that’s not gonna work either. This new system needs to be based on an extremely strong anti-imperialistic mindset. Otherwise, the richer nations are going to harass others.

That sounds ideal, but it will never happen!

I think having 100% inheritance tax instead of income taxes would be best. You can work to earn more to provide for your family while you are alive but everyone has a more similar starting point. I imagagen people would find ways around this though.

War is already going, scale is expanding.

Agreed. I don't think communism had anything to do with it. I believe that the "welfare states" that were created after the 2nd world war was a reaction to the atrocities of that war. People were shocked enough into being empathic and social. Just as FDR's new deal was a reaction to the great depression. But the further away we get from a crisis, the more complacent and more selfish we become. So, unfortunately, I think that the only thing that will "recalibrate" society is another big crisis.

The music business is a cruel and shallow money trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There's also a negative side. (Fear and Loathing in Las Vegas). Just thought you might like that!