A printed banner if i actually meet with one of my guests i can do this campbell after politics gone wild like music. Ok crossland is not about hype its about meaning 10 years of talk and still going strong. Peter if you want to change something why dont we get rid of the bow tie you know that is too much. During the Great Depression which im old enough to remember there was and most of my family were unemployed working class there wasnt it was bed you know much worse objectively than today but there was an expectation that things were going to get better. There was a real sense of hopefulness there isnt today. Inequality is really unprecedented im sure that total inequality its like the worst periods in American History. But if youre a find it more closely inequality comes from the extreme wealth in a tiny sector of the population fraction of one percent. There were periods like the gilded age in the twentys and the early ninetys and so on when a situation developed by the similar to this. Now this period 6 trillion because if you look at their Wealth Distribution inequality mostly comes from super wealth. Literally the top 110th of a percent are just super wealthy. Not only is it extremely unjust in itself. Inequality as highly negative consequences on the so it is. Because the very fact of inequality has a corrosive harmful effect markers that. You opened by talking about the American Dream. Or the American Dream is classman dillard it will infuriate you were cord. Get rich it was possible for a worker to get a decent job. At a core of children who are school. Collapse. Imagine yourself in an outside position looking for mars. What do you see. In the United States when there are professed to like democracy. In a democracy Public Opinion is going to have some influence on poesy. And then the government carries out actions determined by the population and thats what democracy means. Its important to understand that privileged and powerful sectors have never liked democracy and for very good reasons. To not proceed puts power into the hands of the general population and takes it away from them. As kind of the principle of concentration of wealth and power. Concentration of wealth yields concentration of power particularly so as the cost of elections skyrockets it which kind of forces the Political Parties into the pockets of major corporations. And this political power. Translates into legislation that increases the concentration of wealth so fiscal policy like tax policy a deregulation. Rules of Corporate Governance a whole variety of measures political measures designed to increase the concentration of wealth and power which in turn the yield more political power to do the same thing. And thats what weve been seeing. So we have this kind of vicious cycle in progress. You know actually it is so traditional that it was described by adam smith in 1776 he read the famous wealth of nations. He says in england the principle architects of policy are the people on the society in his day merchants and manufacturers. And they make sure that their own interests are very well cared for however greed is the impact on the people of england or others. Now its not a merger of manufacturers its Financial Institutions and multinational corporations the people who adam smith told the masters of mankind and theyre following the vile maxim over our selves and nothing for anyone else. Theyre just going to pursue policies that benefit them and harm everyone else. And in the absence of a general popular reaction thats pretty much what youd expect. Right through American History there. Its been an ongoing clash between. Pressure for more freedom and democracy coming from below and the efforts that elite control and domination coming from above. Because back to the founding of the country. James madison the main framer who was as much of the believer in democracy is anybody in the world that they nevertheless felt that the United States system should be designed and indeed was his initiative was designed so that power should be in the hands of the wealthy. Because the wealthier there are more responsible set of men and therefore the structure of the formal constitutional system placed most power in the hands of the senate or the senate was not elected in those days it was selected from the wealthy men as madison put it had sympathy for Property Owners in their right. To read the debates at the constitutional convention. Madison says the major concern of the society has to be to protect the minority of the opulent against the majority. And here argument suppose everyone had to vote freely and say well the majority of the poor get together and they would organize to take away the property of the rich and he said that would obviously be unjust so you cant have that so therefore the constitutional system has to be set up to prevent democracy. Which is of some interest that this debate has a horror tradition goes back to the 1st major book on political. Systems aristotles politics. He says of all of them the best is democracy at any point said exactly the flaws that medicine pointed out. If athens were a democracy for free men the poor would get together and take away the property the rich. Well the same dilemma they had opposite solutions or settle for posed what we would nowadays call a welfare state to try to reduce inequality. So the same problem if said solutions one is reduce inequality will have this problem and the other is reduced monikers. If you look at the history of the United States its a constant struggle between these 2 tendencies democratising tendency thats mostly coming from the population pressure from below and you get these constant battle going on periods or gratian periods of progress in 1906 for example were a period of significant democratization. Sectors of the folk elation that were usually passive and the city became organized active story pressing their demands. And they became more and more involved in Decision Making and their wisdom and so on. It just changed consciousness in ways. Minority rights. We dont want our. Womens rates. If we force it to say. In terms of the damage in American History. They said pouring of my own safety nets all survived opposition to creation through to those who criticize us. Dissent they are serious about law. And the vietnamese people black people and people concerned for other people 1. 1000000 poor people in america when you begin. To raise a. System of distribution of wealth to question our restructuring American Society these are all civilizing to say. That cause great fear. I hadnt. Anticipated the power of a should have but it didnt then to speak the power of the reaction to the civilizing effects of the sixtys i did not anticipate the strength of the reaction to it. The backlash. Seemed wrong. But. Just dont. Get to see how it does this cut outs of cake. And it. Equals betrayal. When so many find themselves worlds apart. Just to look for common ground. Desists is a sticker from a water bottle found in the stomach of a fish the brand is part of the Cocacola Company which sells millions of bottles of soda every day the idea was that lets tell consumers there are the bad was there the litter bugs are trying this way industry shouldnt be blamed for all this waste to company has long promised to reuse the plastic. Thats. A special projects funded. On the. Team but for now the mountains of waste only grow higher. Things. Meet their. Budget Survival Guide book station just like all the stores at least are. You sure its still there you dont get it back. Oh heck no whats the use of repatriations will look at the rest of 70 years. Of the separate kaiser report. There has been an enormous concentrated coordinated business offensive beginning in the seventys to try to beat back the gallant tarion efforts that went right through the nixon years and you see it in many respects and over on the right you see it in things like the famous pell memorandum. Sent to the chamber of commerce Major Business lobby Later Supreme Court Justice Powell warning them that business is losing control over the society. And something has to be done to counter these forces course it puts it in terms of the defense defending ourselves against outside power. If you look at it its a call for business to use its control over resources to carry out a major offensive to beat back this democratizing wave. Over on the liberal side something exactly similar the 1st. Major report of the trial Lateral Commission is concerned that this. Called the crisis of democracy. TriLateral Commission is liberal internationalists in their flavors indicated by the fact that they pretty much staff the corridor ministration. And they were also told that democratizing tendencies of the sixtys and so we have to react to that. They were concerned that there was an excess of democracy developing. Previously. Passive and obedient parts of the population are sometimes called the special interests who are beginning to organize and try to enter the political arena and they said that imposes too much pressure on the state cant deal with all these pressures so therefore they have to return to a city becomes the politicized. And they were particularly concerned with what was happening to young people and young people get into free and independent. Record. In the way they put it theres a failure on the part of the schools the university churches the institutions responsible for the indoctrination of the young there for its not mine. If you look at their study theres one interest they never mention private business and that makes sense theyre not special interest theyre the National Interest kind of by definition so theyre ok there are led to you know flub is good by campaigns to if the executive make decisions thats fine but its the rest the special interests the general population who have to be subdued. When thats the specter its the kind of ideological level of the backlash but the major backlash which was in peril of this. Was just redesigning the economy. Since the 1970 s. Theres been a concerted effort on the part of the masters of mankind the owners of the society to shift the economy. In 2 crucial respects one to increase the role of Financial Institutions banks investment firms and so on insurance companies. But a 2007 break before the latest crash they had literally 40 percent of corporate profits. Far beyond anything in the past. Back in the 1950 s. As for many years before the United States economy was based largely on production. In the United States as the great Manufacturing Center of the world. Financial institutions used to be a relatively small part of the economy and their task was to distribute unused assets like say bank savings to productive activity buying our way and had on hand a reserve money. Holders to monitor on the back of the cash reserve a bank can create around it call behind the providing an. Auditing money on banks or of the community by making National Credit available for many more manufacturer and im even going. To unlock some remodel her car and our money on a good reason why people are always needing more cramming and i have immediately available. Thats a contribution to the economy. Regulatory system was established banks were regulated the commercial investment banks were separated cut back their risk investment practices that could harm private people. There had been remember no financial crashes during the period of regulation. By the 1970 s. It changed. You started getting that if you increase in the flows of speculative capital just astronomically increased an enormous changes in the Financial Sector from traditional banks to risky investments. Complex Financial Instruments money manipulations and so on increasingly the business of the country isnt production at least not here. The primary business here is business. You can even see it in the choice of directors so a director of a Major American Corporation back in the fiftys and sixtys was very likely to be an engineer and as somebody who graduated from a place like mit maybe Industrial Management more recently the directorship in the top managerial positions or people who came out of Business Schools learned financial trickery of various kinds and so on. By the 1970 s. Say General Electric can make more profit playing games with money than you could buy produce and in the United States. You have to remember that General Electric is substantially a Financial Institution today it makes half its profits just by moving money around in complicated ways and its very unclear that theyre doing anything thats of value to the economy. So thats one phenomena lets go financial ization of the economy. Going along with that is the oil sure into production. The trade system was reconstructed with a very explicit design of putting working people in competition with one another all over the world. And what its led to is a reduction in the share of income on the part of working people. Its been particularly striking in the United States but happening worldwide it means that an American Workers in competition with a super exploited worker in china. Meanwhile highly paid professionals are protected theyre not placed in competition with the rest of the world far from it and of course a capitalist free to move a workers are free to move labor can move but chattel can well again going back to the classics like adam smith as he pointed out free circulation of labor is the foundation of any free trade system but workers are pretty much stuck the wealthy in the privileged are protected so you get obvious consequences and theyre recognized in fact praised. Policy is designed to increase in security. Alan greenspan and when he testified to congress he explained his success in running the economy as based on what he called greater worker insecurity. A typical restraint on compensation increases has been evident for a few years but as i outlined in some detail in testimony last month i believe that job insecurity has played the dominant role workers in security are going to be under control. They are not going to ask for say decent wages were a decent working conditions or the upper. You need a Free Association meaning unions. Now for the masters of mankind thats fine they make their profits but for the population its devastating. For these 2 processes financial ization and offshoring are part of what led to the vicious cycle of concentration of wealth concentration of power. Said she stressed to. This or that the british and the bill of voted out that it will cost her. Was thank you she didnt taste the face to face which. I thought at which shed never know what you. Can ever since you took a moment in there for sure. What you thought of the show through my eyes youre going to be. Good to mr siward supporter until. Spiritual or does he seem to be what you believe hes to teach the student actually the person to be wrong or should stop him speeding. Ever since the arrival of Boris Johnson to 10 downing street theres a growing sense of inevitability that brags it will be executed on october 31st with or without a deal i mean we get to this point what lessons have been learned and ready ready ready ready. I am sure to stop at the continuing to grow. I just never know very good about the idea of bringing children into the world because i didnt feel like things were in very good shape that life was just going to be a lot of software programs. Theres no reason the more. You take things that are to me that. Theres no reason to make Something Else than you. Everybodys scared to talk. And. Ready when the. Military says its developing. Fake news and. In the media with. Good stuff. The. British prime minister. Report claims millions of made weapons have ended up in the hands of terrorists in syria. The u. S
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