Moyers: Rampant Capitalism Has Created a Social Disaster -- How Do We Right the Ship?

[xchrom]

http://www.alternet.org/economy/moyers-rampant-capitalism-has-created-social-disaster-how-do-we-right-ship



***SNIP

RICHARD WOLFF: That's right. The ocean will lift all the boats. The reality is that for at least 30 years now, that isn't true. For the majority of people, capitalism is not delivering the goods. It is delivering, arguably, the bads. And so we have this disparity getting wider and wider between those for whom capitalism continues to deliver the goods by all means, but a growing majority in this society which isn't getting the benefit, is in fact, facing harder and harder times. And that's what provokes some of us to begin to say, "It's a systemic problem."

BILL MOYERS: So we put together some recent headlines. The merger of American and US Airlines, giving us only four major airlines and less competition. Comcast buying NBC Universal, also reducing competition. The very wealthy getting a trivial increase in taxes while the payroll tax of working people will go from 4.2 percent to 6.2 percent. Colossal salaries escalating again, many subsidized by tax breaks and loopholes. The postal service ending service on Saturday. What's the picture you get from that montage of headlines?

RICHARD WOLFF: Well, for me it is captured by the European word "austerity." We're basically saying that even though the widening gap between rich and poor built us up, many of the factors that plunged us into a crisis, instead of dealing with them and fixing that problem, we're actually allowing the crisis to make the inequality worse.

The latest research from the leading two economists, Saez from the University of California in Berkeley, and Piketty in France confirms that even over the last five years of the crisis, through 2012, the inequality of wealth and income has gotten worse, as though we are determined not to deal with it. All of those headlines you talked about are more of that.

[marmar]

1. k/r

[dotymed]

2. Thats because "our" country is no longer "ours." eom

[ProfessionalLeftist]

3. Don't miss Moyers' interview with Richard Wolff on his program - entire segment online

Posted about it yesterday (http://www.democraticunderground.com/10022418996)

Here's the link - whole show is online - Moyers and Wolff cover a lot of ground:

http://billmoyers.com/episode/full-show-taming-capitalism-run-wild/

I don't agree with Wolff's assertion that jailing the greedy bastards or more/better regulation won't help. I think it will. I do agree with him that the entire underlying system must change to prevent this continually happening again and again.

[xchrom]

4. +1

[Hugin]

5. So, this is what attrition... Um, I mean austerity looks like. n/t

[reformist2]

6. We need a new set of reforms: more white-collar unions, wealth tax, basic income guarantee...

[Volaris]

12. there should also be a maximum wage...

and anything above that is taxed as capital gains (which should START at 25%)

[midnight]

7. We shift the winnings back to those who created them.... The working people...

[Fire Walk With Me]

8. The rich are the source of problems. Read "The Plutonomy Symposium: Rising tides lifting Yachts"

The leaked 2006 Citigroup "Plutonomy" memo.

https://www.box.com/shared/9if6v2hr9h

Leaked by Michael Moore. It reveals the true economy (driven by the top 20%), the factors for increasing their riches (globalisation, technological revolution such as seen in the spy tech sector behind the DHS and TSA), and their fears (people rising up and demanding a fair share of wealth via protesting and the political process).

Want to understand the causes of many of our problems? Let the source of the problem explain it to you in their own words and goals.

[Dustlawyer]

9. The simple explanation is that the wealthy own our politicians. They will not give up control

Of these United States easily. The method to take it back are massive protests with one major goal, COMPLETE CAMPAIGN FINANCE REFORM CCFR!!!!!!!!!
They have a plan for us and it has been all out class warfare!

[Maineman]

15. True

I think we need structured campaigns - only debates and interviews, no wild west ad wars and money wars. Money is not speech.

[reformist2]

18. Campaign finance reform is the SINE QUA NON of all reforms.

For those who don't know the term, it's Latin and basically means "without which, nothing"

http://en.wiktionary.org/wiki/sine_qua_non

If we were ever to get real CFR that leveled the playing field so that poor candidates could run just as easily as rich ones, our representatives would truly represent us - wholly and completely - for the first time in our history. The flood of economic reforms that would ensue would make the 1%-ers heads swim.

[Dustlawyer]

23. That is why if there are serious protest for it, we would see them pull out all of the stops to

scare other would be protestors by violence and oppression! It would be ugly b/c they will not give up control willingly. The problems our country faces all begin and end with the corruption of our political system by lobbiest and campaign contributions. The special interests determine most of what happens, not the will of the people. There is no talk of busting up the monopolies and oligopolies in the banking, oil, and media groups due to the power of money! Why not? $$$$$$$!

[Overseas]

10. K&R. He is so honest about where we are at right now.

[sulphurdunn]

11. It is ironic

that in the same breath the majority of Americans will profess their faith in the teaching of Christianity and then worship at the alter of Mammon. Even more ironic is the fact that democratic institutions, which exist by the consent of the governed, for the benefit of the governed are controlled by the oligarchs of an antidemocratic and amoral economic system that serves only ungoverned avarice.

[Maineman]

16. "an antidemocratic and amoral economic system that serves only ungoverned avarice."

Exactly. Unregulated greed. What could possibly go wrong?

[sulphurdunn]

21. Well, it can't go wrong

because the "invisible hand" causes the benefits to "trickle down" to the ones who create the wealth for the invisible hand of largess. I often wondered what global benefit the hand confers when it fetters its own creators rather than being fettered in service to them.

[socialist_n_TN]

13. As Karl Marx would say.....

I told you so!

[woo me with science]

14. K&R

[felix_numinous]

17. K&R

Solid.

[highplainsdem]

19. K&R!

[Uncle Joe]

20. Kicked and recommended.

Thanks for the thread, xchrom.

[woo me with science]

22. kick

[Bennyboy]

24. END CORPORATE PERSONHOOD....

move to amend. https://movetoamend.org/ WE THE PEOPLE,NOT THE CORPORATIONS......

Until this changes, NOTHING CHANGES>

[KoKo]

25. Recommend

[Festivito]

26. We don't fight in wars to make rich more rich, we yell democracy...

... then allow the rich at home to destroy democracy.

The overly rich have become the domestic enemies of our Republic.

[HiPointDem]

27. no worries -- half the population is going to be drug addicts soon anyway, prescription or illegal.

kind of like china before the revolution.

[dreamnightwind]

28. I saw this show, it was excellent!

K R. Anyone who didn't see it, might want to. I was not familiar with Wolff, but he is very articulate about what's going on, and has historical perspective as well as understanding the current situation.