Hedges interview with David Harvey on "The Future of Global Capitalism"

This is well worth the time if the subject interests you -- And It Should!! I found it interesting it anyway.

Topics discussed.

Raising the Minimum wage, while a good thing, will just be absorbed by capitalist structures that are unregulated and will just raise prices to absorb the higher wages (ie nothing gained by the working class).

Rise of fascism around the world.

The System is rigged for and by the rich.

Neoliberalism took hold in the 1970s and has just continued to worsen economic conditions of workers.

The MSM ignores the obvious, basic worsening of financial status of the working class.

Trump elected is the result of the unrest caused by the people's deteriorating economic status. (Well we knew that... I guess the racism and misogyny were bonuses)

The excesses that caused the 2008 crash are coming back in a big way.

(time 27:19)

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Lookout's picture

I also found grey wolf's introduction to Bookchin really interesting as well.
https://en.wikipedia.org/wiki/Murray_Bookchin

Capitalism will not generously provide us the popular democratic institutions we need. Its control over society today is ubiquitous, not only in what little remains of the public sphere, but in the minds of many self-styled radicals. A revolutionary people must either assert their control over institutions that are basic to their public lives -- which Bakunin correctly perceived to be their municipal councils -- or else they will have no choice but to withdraw into their private lives, as is already happening on an epidemic scale today.10 It would be ironic, indeed, if an individualist anarchism and its various mutations, from the academic and transcendentally moral to the chaotic and the lumpen, in the course of rejecting democracy even for "a minority of one," were to further raise the walls of dogma that are steadily growing around the libertarian ideal, and if, wittingly or not, anarchism were to turn into another narcissistic cult that snugly fits into an alienated, commodified, introverted and egocentric society.

http://dwardmac.pitzer.edu/Anarchist_Archives/bookchin/CMMNL2.MCW.html

David Harvey has several nice interviews on youtube. Here a speech of his a year ago in NY. (1.2 hours with intro)
https://www.youtube.com/watch?v=fqkc9Vh7bUo

Thanks for featuring his interview with Chris.

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“Until justice rolls down like water and righteousness like a mighty stream.”

Citizen Of Earth's picture

@Lookout
I was just now browsing gjohnsit's "In defense of socialism" essay and I saw that you had embedded this video in a comment yesterday. So I give you credit for finding it first. Yeah, Harvey's clear headed analysis of our sad state of affairs is spot on.
Capitalism survival of the fittest richest.

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Donnie The #ShitHole Douchebag. Fake Friend to the Working Class. Real Asshole.

Pluto's Republic's picture

There has been this big realization lately that economists who were educated in the Western universities are fatally flawed. The principles they were taught are based on ideological projections and not reality; the theories and assumptions they believe, never worked in practice. Yet, academic economists have discovered that they can't correct the curriculum. Wall Street prefers it just the way it is. It's good for business.

I remember this point differently:

Raising the Minimum wage, while a good thing, will just be absorbed by capitalist structures that are unregulated and will just raise prices to absorb the higher wages (ie nothing gained by the working class).

This was said, I thought, in the context of what happens when there is insufficient regulation on the behavior of capitalism.

The excesses that caused the 2008 crash are coming back in a big way.

The point had been made that the structural flaws (caused by the deregulation of the New Deal restrictions) were never corrected or reformed. This economy can only produce excesses. Capitalists are unable to control themselves for the benefit of humankind.

Essentially, when the bounties and assets of the nation are privatized and turned into money-creation pumps for the wealthy, the inequality gap opens wide and society will collapse. Academics know that American-educated economists should not be working in the government of the people.

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