Economic Update: Why Capitalism Demonizes Government

welcome friends to another edition of economic update it's a weekly program devoted to the economic dimensions of our lives jobs debts incomes for ourselves for our children coming down the road I'm your host Richard wolf I've been a professor of economics all my adult life and I hope that has prepared me well to offer you these economic updates in terms of what's going on all around us in the economy I want to talk about the economics of crime to begin this week's program and I want to talk about a particular kind of crime and how a country namely the United Kingdom Britain deals with it partly in order to underscore the importance of it and in order to underscore that nothing comparable to that exists here in the United States and indeed in many countries the United Kingdom has an office called the National Crime Agency it is charged with exploring and investigating quote unexplained wealth and it does this by issuing unexplained wealth orders when it has reason to believe that corrupt money from abroad was laundered through British enterprises to accumulate wealth inside the United Kingdom here's an example of what the National Crime Agency of Britain recently did it issued an unexplained wealth order against zamira Haji Ava of Azerbaijan Azerbaijan was a former republic within the Union of Soviet Socialist Republics it is now an independent country where she and her husband Jahangir Haji F of the of Azerbaijan her husband was a former bank employee so he's an employee of the bank who went on to become the chairman of that Bank here's what got them into the attention of the National Crime Agency first they bought a fifteen million dollar home in downtown London number two over a 10-year period the last decade she spent nearly 20 million dollars at Harrods department store that works out to 5,000 dollars per day she also purchased during that time a 12 million dollar golf club in rural Britain goodness her husband Jahangir ha GF was jailed in 2016 in his native Azerbaijan a sentence of 15 years for being convicted of a major fraud and embezzlement that saw tens of millions of pounds disappear from the bank judges ordered him to repay 39 million dollars seven years earlier as part of the crime and the the trial it turned out a company no one knew about in the British Virgin Islands paid fifteen million dollars for another large home minutes from the Harrods department store for them in London this kind of crime particularly on the part of executives who oversee large quantities of money in banks and other lending institutions vanishes all the time it is busily pursued if and when the authorities find out about it by them rarely as in this case is something done about it I want you to understand that when you add up all the relatively minor characters like this one in all of the 195 countries of the world who sit in the local banks and insurance companies and large corporations when you add that all up we're talking massive amounts of money and that money is typically hidden and one of the ways it's hidden most is move it to another country and in that other country buy homes and housing so that the money disappears and the people who stole the money now are the owners of housing and golf clubs and other things in other countries it's a kind of money laundering the British are determined to get at it here in the United States there's no comparable agency and no comparable effort I live in New York City and often I walk down places like Madison Avenue Fifth Avenue Park Avenue and I do so with my wife in the evening when it's dark and one of the sports of New York City is to notice on a weekday that the vast majority of windows are dark they're dark at 6:00 they're dark at 9:00 and they're dark at 11:00 and if you talk to the doorman in many of these buildings he'll tell you very quickly that yes these apartments are money being stored in the form of an apartment by somebody who lives thousands of miles away somebody who got that money Lord knows how and brought it over here to buy an apartment that simply a storage locker for their ill-gotten gains of course a government that really wanted to do the people's work of getting that money back so it is in the hands of the people from whom it ultimately was stolen would be busy on the case ours isn't the next topic has to do with a fundamental contradiction of capitalist systems on the one hand government is constantly brought in to perform absolutely crucial services let me give you just a random list here in the United States the Louisiana Purchase half of what is now the United States was bought by the government to enlarge the United States way back at the beginning of the 19th century killing off huge numbers of Native Americans was a governmental activity funding the Lewis and Clark exhibition which added another quarter of what is now the United States was a government operation managing the money supply of the United States was and is a government operation bailing out banks and corporations including all of the biggest ones was and is a function of the government operating tariffs wars against other countries was and is a government function these have been crucial and the list could go on so how do you explain at the same time that the leaders of capitalism who call in the government to do all these things are constantly denouncing the government as wasteful as inefficient as a burden that should get off the back of the private enterprise to unleash what's going on here you denounce it and you turn to it you need it and you reject it all at the same time this is a contradiction how do you explain it here's the explanation private capitalists have always feared the government and the reason is simple government in modern society like the United States or Britain or any other major country or any country virtually has universal suffrage that means everybody gets a vote the vast majority of people in every capitalist country are not capitalist they don't have the money they don't have the social position they don't have the connections they don't have the pedigree they don't have the education you get the picture so the majority of people who are the majority voting are not the capitalists meanwhile the capital is draw into their hands the bulk of the wealth and the economic power this is an unstable situation the mass of people don't have wealth the mass of people don't have much power but they have that vote so the temptation will be sooner or later and all corporate executives know this the temptation will be for the majority to use what they have to vote to undo the results of the economy if economic wealth is distributed very unequally the vote can change that by passing a law taxing wealth wealthy property wealthy income are a hundred other ways so you denounce the government keep it weak keep it small less the people with their vote use it against you but at the same time your system has so many problems for example the crash of 1929 or the crash of 2008 that you need the government to come in and rescue you you're torn so what you try to do is control the government to prevent it from ever being the agent of the people's needs while it is still big and strong enough to save you from capitalism's many failures its instability etc it's a contradiction that can flop either way under the pressure of circumstance it's not an efficient or an effective system my next update is a response to your questions what is the final story you want to know about the minimum wage well the first thing to tell you about the minimum wage is that at the federal level that covers the whole country the federal government has set a minimum wage it is $7.25 per hour if you are not a tipped worker if you're a waitress of bartend and you get a tip the minimum way age in this country is $2.13 I really want to let that sink in $2.13 for a tipped worker $7.25 in most parts of the United States you cannot live on that amount of money it is a minimum wage that doesn't give you a minimum standard of living it's so bad that there are 39 states out of 50 that have a higher minimum wage for their state than the federal one right now the highest minimum wage in the country for non tipped workers is $11.50 in the state of Washington it's $11 in California and Massachusetts and then on down in 21 states the wage is the same 7 and dollars and 25 cents okay here's the situation over the last 40 years we have seen the following if we divide up low wages middle level wages and high wages low wages adjusted for prices are lower today than they were in 1980 middle level wages are about the same slightly above what they were in 1980 people with high wages are getting 40% more when you adjust for prices compared to what they got before in other words the majority of people have not been made better off over the last 40 years we have a very low minimum wage and we have treated the wage earners of this capitalist system horribly there's no other way to say it this is a capitalism that fails to deliver a decent minimum standard of living to the majority of the working class of this country which helps explain many things that are going on in this society and is something that ought to be addressed even though from the resident and the Republicans and the Democrats too the conversation is about many topics but not about the wage the minimum wage or the level of wages no big campaign no big media exposure next to nothing my last update is also about Britain it's boring to have to tell you this but there's a big struggle in Britain about the collapse of a huge construction companies called carolien and here's why it's getting attention the big four accounting firms in the world in the world Deloitte Ernst a young KPMG and PricewaterhouseCoopers they are the ones who said everything was ok with that company and now it's revealed that there's something wrong with having a company pay a fee to another company to say what good their credit is because you can't rely on it we learned that in 2008 but like all the other lessons no one's paying attention we've come to the end of the first half of economic update I want to ask you again to become subscribers on our YouTube channel and follow us on Facebook Twitter and Instagram please make use of our website democracy at work dot info where you can find many ways to interact with us and of course thank you to our patreon community whose support is vital and enormous ly appreciated please stay with us we'll be right back welcome friends to the second half of today's edition of economic update in today's edition of the second half we're going to be talking about two major topics the first one has to do with a kind of oscillation of swinging back and forth between nationalism and internationalism this has been going on with capitalism for a long time we're in the middle right now of what may be a shift again and so it's the right time to talk about it I'm gonna begin with the 19th and 20th centuries capitalism it in those years was mostly not all together but mostly nationalists that is countries where capitalism was developing would be protective tried to be protective of their developing industries they often call them infant industries because they were just getting going as employer-employee organizations of production there was one country that was ahead of everybody else the place where capitalism got going first as the dominant economy and that was Britain and Britain had a global Empire as I think most of you know running from India in Asia to South Africa to the United States before we came an independent country etc etc the British because they were so powerful and so much more developed what kind of in favour of free trade and they maintained the control of the world to be the one to get the most out of free trade but it made countries that were trying to come up Britain's competitors if you like mostly the United States in Germany but other countries too but particularly the United States in Germany it made them wary of dealing in a world of free trade because Britain had all the advantages so one of the things that Germany in the United States did through much of the 19th and 20th centuries particularly the earlier part of the 20th century was to use eris to protect themselves to make it hard for the British to come in to create all kinds of barriers so that they were in a sense reserved the economy of their country for their own capitalists reserve the American market for American capital as the German market for German the French market for French capitalists the Russian market for Russian capitalists and so the other countries could grow even though the British remained dominant until finally the United States and Germany and others were strong enough to begin to push and to contest for power at that point the British withdrew from their internationalism began to close a wall around their empire trying to reserve everything from Australia to South Africa to India for themselves and keep the Germans and the Americans out and the Americans and Germans reacted by grabbing parts of Africa the United States grabbed Cuba Philippines things like that and it would have continued this nationalism of countries protecting each other had it not been for something that happened as a result of this struggle and the competition among national capitalism's that result was World War one followed a few years later by World War two these were world wars that literally inflamed the whole world the numbers of people killed the destruction of property was like nothing the world had ever seen it turned out that competing national capitalism's were a route to war and if you add the cost of war then this was a system that people were very skeptical about in response to World War one an effort was made to create a League of Nations it was called that would work out the problems other than by war that fell apart when the National some rose again this time in the German and Italian and Japanese cases they were going to develop their own economy free then of the power of the new dominant player which wasn't so much England which was shrinking but the United States which was emerging it didn't work and we had World War two here as destructive as World War one followed not by the League of Nations but by the United Nations trying to put more teeth in the notion we have to figure out a way to run the economy that doesn't produce cataclysmic world wars that led to a switch after World War two that is after 1945 the United States became the dominant world power it effectively replaced Britain as the controller of the whole thing and therefore the United States was in favor of free trade because it's capitalists were in a better position to profit from free trade than were anybody else's but the dominance of the whole United States was so total that we had a period half a century roughly from the end of World War two to now when we had internationalism when everybody at least gave glib lip service to the fact that our economy is now global that we shouldn't have trade barriers we shouldn't have tariffs we developed institutions like the general agreement on tariffs and trade the GATT which function to get rid of tariffs around the world to get rid of barriers we were told about globalization as the new wave of the future that globalization would secure peace that globalization would allow us to become wealthy by making excuse me by making the world more efficient create a big middle class to bring prosperity my profession the economics professor became almost poetic in the promises of what a globalized economy would do for us all but along the way globalization was used by capitalists just as nationalism had been used by them before and what we saw was more and more inequality emerging in countries as a result of globalization when corporations left Western Europe North America and Japan and moved over the last 30 years to China India and Brazil they moved to take advantage of low wages that made their profits higher but drove down the wages in North America Western Europe and Japan we all living through that that led to a revulsion of the mass of people around the world feeling they had been betrayed by the broken promises of internationalism leaving we're leaving to where we are now a reversion back to nationalism mr. Trump's wars on the rest of the world Canada Mexico China Europe the turning inward of Italy the turning inward of Britain as it votes to separate from Europe this is the return of nationalism but it's important that you all understand this is going backwards historically and it's going backwards to something we left behind for a very good reason the United States is hunkering down in a world of competing nationalisms the last time we saw that the end result was war the solution to capitalism's oscillation from nationalism to internationalism after World War 2 and now back to nationalism is to recognize that the problem isn't nationalism or internationalism the problem is a capitalism that uses both of those phases to do things that it oughtn't to be allowed to do there are two ways to go now back to nationalism with all the dangers it represents or to go to a new and different economic system the one that doesn't lock employers into employees with employers trying always to find ways to cheapen the wages to pay less to make more profits that's the problem that system and we would be better to move forward by changing systems than backward to a nationalism that we left for very good reasons after World War two the next topic is the market I don't know how many times I have gone over this but your questions and your communications obviously mean I need to do this more not less the market is the market inefficient distributor of goods and services for me the answer is an unequivocal null the market isn't particularly efficient and the reasons for that are very simple first of all and most basic a market is not a place where we count the costs and benefits of things and decide to do those where the benefits are greater than the costs and to not do those where the costs are greater than the benefits that's the fairy tale told to students that's never true why not because many of the costs of doing business are not costs that the business has to pay and therefore they're not counted by the business and therefore the decisions the business made don't take into account all the costs the simplest example comes from ecology it may be very profitable for a laundry to exist in a community where the money they charge to clean our clothes is greater than the cost to clean our clothes what nobody counts not you not me and not that business is the smokestack above the laundry that emits into the air all kinds of particulate matter from burning whatever they burn oil gas those little pieces they have all kinds of effects in the community but they're not the problem of a capitalist business let me give you some lists people breathe them in and they get emphysema they get lung disease they have to go to the doctor more often but those particulates those pieces they also interact with the tire in your car so you have to replace the tire more often they also interact with the paint on your house so you have to paint it more often I could go on and on who pays for all of that you do I do medical bills tire costs paint costs but the company that causes the problem doesn't have to if we added all the costs that that laundry really costs the economy we live in we wouldn't put the laundry there because the costs if you really add them up a greater than the profits and worse the costs are borne by all of us the profits are only in the hands of whoever owns the company that's undemocratic that's unfair but it's inefficient because inefficiency calculus if we could actually do it would say not to put that laundry there so markets don't get you efficiency well what do markets do they distribute things in a very particular way if things are scarce if there's not enough ice cream cones for all of us to get one I'm gonna go to the guy who's selling the ice cream cones and I'm gonna say you're charging how much $3 he says good he said I'll give you four because I want to get one and I know they're scarce but the guy standing next to me he understands the game he offers five and the woman next to him offers six you see where this is going the price of cones will go up until it's so high that lots of people who wanted the cones can't afford them anymore or to say the same thing simply markets allocate scarce goods and services to those with the most money that's what they do that isn't efficient that isn't moral that isn't ethical I ask all of you to take whatever morals or ethics you have and ask yourself the question is distribute scarce goods to the people with the most money the best moral way to do it if there isn't enough milk to go around should an older person who doesn't need it but has the money get it while a child who needs it to grow is denied it you really want to do that you really want to endorse that no markets are not efficient markets are a way to make sure the economy serves first and foremost those who are the richest within it and believe me they'll use the market first and foremost to stay the richest so that the market serves what they want the market to do don't be fooled the market is not a neutral efficiency mechanism it is a highly partisan biased service to the rich

  1. Saul: "Now what does he see? He sees a young fellow with a big fancy house, unlimited cash supply and no job. Now what is the conclusion that the tax man makes?"
    Jesse: "I'm a drug dealer."
    Saul: "EH! Wrong! Million Times worse! You're a tax cheat!"

  2. hehe fyi european systems are communist or worse here in the states. you might not understand how right wing we are in the US. except when it comes to socialism for industry!

  3. I am living in Romania, a former comunist country . I am glad I-ve lived a few years on that system, wasn-t perfect like any human made system, but regular people had a lot to win .Secure jobs, free&quality education, to be a teacher was really an honor and they were very respected in the society . I know people who worked their entire lifes in a single workplace, imagine that in capitalism ! Everyone could buy a private property, it was as cheap as a rent . People were more nice to each other, now the society like almost capitalist society is roughly divided in those who has and those who waste their life working for others to make them even more rich that they are at the cost of their quality of life and health .
    Every day crime increses in this country because every day the gap becomes larger, a very few and the rest, that is all, there is nothing left . Capitalism and crime rise (social faillure), those are linked like bread and butter .

    In a comunist system the largest diference between people wages working in the same place was one to six, this meaning that the chief of that place could not earn more than six times than a worker .
    I-am not against profit, I-am not against working hard for the money you earn in a life, but I think nobody should have the right to rip people off just because they can, man that-s really sick .

  4. keep the government small so they have less people to corrupt with their money in order to have it their way
    keep the government small so it's easier to control
    it's way clearer this way

  5. The world wars didn't "happen" they were designed to enrich rhe central banks and promote global bank slavery.

  6. Sounds like Venezuela how they hoard goods so only the rich can buy.while kids and the most needy can't get basic goods!. Those buziness owners aren't people that have ethics, or any moral decency!

  7. Pharmaceuticals Big Phatma, prescription medications are big business! So keeping people sick is the reason for a lot of corruption! Those rich evil bastards can fund the FDAs budget with pocket change! They created the opiate crisis and the only ones who don't have are the real criminals!

  8. AMLO the new President of Mexico has uncovered all kinds of illicit business deals by all the previous Presidents! .But the Pemex Executives where stealing gas and electricity to siphon funds into their bank accounts!

  9. Capitalism is sinking fast& the biggest pig feeding off of it are mostly the Zionist banks& the state of Israel& it's lackeys

  10. The minimum wage here is $7.25 – no one in my town is actually hiring for that amount tho. Even McDonalds is hiring ppl starting at $10 an hour, $12 an hour for the overnight shift. Of course, I live in a college town so there's only so many college students willing to work per semester and when they do? They need at least a certain amount of money per hour to even be worth it. And then there's the fact that the town's population is literally cut in half when the students go home for the holidays and summer breaks.

    In comparison, a suburb of the state's capitol is only 20 min away by interstate. McDonalds and Walmart are hiring at $9 an hour there – which is a very recent development. Just two years ago, they were only offering $8. You go into the capitol itself, and the offered wages drop right back down to minimum wage.

  11. I've noticed that every place I've ever rented have had "abandonment clauses" in them – if the landlord finds out that I've left the apartment and not been there for a specific length of time without letting them know beforehand (usually about 2-4 weeks), they consider me to have abandoned the apartment and the rent contract is considered null and void and any possessions I may have left behind will essentially belong to the landlord.

    I'm not sure how common those clauses are in other states, but my guess would be that it's to prevent ppl from essentially renting apartments that they have no intention of living in. It's also a way for a landlord to quickly turn around an apartment in the much more common case where someone takes off cuz they can't pay their rent. There's probably other housing regulations that are designed to benefit landlords more than renters. I've a friend that absolutely hates landlords and has an entire list of reasons.

    Personally, I'd rather rent than own a home – at least at this point in my life. I'm 33, but I honestly don't know where I'll be in a few years. Will I want to stay here? Will I get a job halfway across the country? If I have to sell a house before I can move, that can be a major problem. Right now, I can pick up and move anywhere I want. The only real logistical problem I have is moving my stuff and finding a place that will let me have my cats (that's my major problem with renting – finding a place that lets you have pets).

    My roommate's brother bought a house in North Carolina when he was stationed out there with the army. They told him it was the last time they were going to move him. Two years later, they moved him to Alaska. He had about a month's notice. He didn't get his house sold in that time, but there was no way he could tell the army that he wasn't ready to move yet. So he spent a lot of time and money traveling back and forth before he managed to sell his house.

  12. Because government cant do anything right, as government is bad at picking winners and losers. Heres an example Obama picked green companies to subsidize, he gave them half a trillion dollars. All of these companies went out of business, so you lost half a trillion dollars. Keep thinking government can work, when your litterly complaining about a corrupt system of oligarchs, racist, sexist and a completely broken system. The left is the dumb party now.

  13. let me get this straight
    money was stolen from the people in Azerbaijan
    then government of UK stole the money from these thiefs and gave it to self and those are the good guys?
    Now people of Azerbaijan have zero recourse
    also those thiefs did nothing criminal in the UK other than to span ludicrous amounts of money and UK is upset at this…

  14. I didn't know the minimum wage was that low in the US and what the hell do tips have to do anything with wages?! I'm from a small ex-Yu central European country and our MW is 4.56USD, and that's after nearly 40% taxes ("free": university education, 1 year maternity leave, healthcare, pension… the lot). Granted our system isn't perfect any many many things need to improve but after visiting LA/SF a few years back and seeing all the homeless everywhere I saw that we're doing damn well.

  15. I find it very interesting that now in 2019 one can preach about Marxism ….a so called “professor”.This retareddd professor forget to mention one thing,which is far left ideology is not there to create a fair equal society.It is there to create a TOTALITARIAN regime.Socialsm,communsim,was implemented in all continents among all cultures and races 8n the last 100 years.Produced over a hundred million corpses.In every country from Nicaragua,Cuba,to Mozambique,to Angola,to Cambodia,China,Soviet Union Eastern Europe the marketing policy was the same.Convince masses,mostly the poorer class of society ,convince them,that there is a way to create equality among men,fair share,where everybody going to share the wealth we produce.Where the people will run the factories,and all this bullshit….they so convincing the masses belive it.Especialy the pooorer the people are the more they belive it.But one can see the results,whenever socialist ,communist “leadership”takes charge,they turn the country into a TOTALITARIAN hellhole.Which is not fair at all.You don’t have factory workers,but you will have party officials,dobbers,fear and yes,you will be equality poor.😀The left has one interest only,total control,that’s why for example,one of the biggest fiancée of the leftist movements is George Soros worth over 30 billion dollars.30 billion. A banker.And he talking about equality?He using the purple haired retards as tools from universities t9 undermine the existing system,destabilize the system and financing main stream tv channels to subtly brainwash the masses.When you have that kind of money,you can pull a lot of strings.They creat guilt in society by telling you about slavery a million times.Like I have anything to do with what people did 300 years ago.They don’t tell you that the Arabs were one of the best slave traders between Africa and Europe,no.They tell you being white is bad.Racist,racist,racist,they wishper into your ears every day and if you listen to it,you will belive it.Racist,racist,islamophobe,homophobe.They supporting all organization,like the lgbt,to undermine family values,and undermine the base fabric of society which is family.They don’t support the gays because they like them,no,they homosexuals and trans serve as tools to weaken society from within and undermine society.Its a very complex strategy,called how to take over a country,whiteout shooting a single bullet.Attack society on every level even in sport.Thats why trans genders infiltrated sport.To dicurage girls to participate in sport.Why?Do you see Muslim women on sport event?As participants?No.Islam should be the next which should replace Christianity.Its the same political,Same totalitarian ideology in the name of God,not the name of the state.If they succeed ,they may stay in power for hundreds of years.Communist countries usually fall apart within Max 3 generation.This idiot “professor”is damaging the youth not telling them about the horrors of socialism and not telling them the fact,that even if it sounds good in theory,it has always failed everywhere and made everything much worst then living in a capitalist system.This Guy is a dangerous piece of shit!

  16. he said exhibition, when he meant, expedition; as in Lewis and Clark…
    it's ok, he's human. 🙂

  17. The rich get rich because they can and the poor either because they can't or believe someone; often government; is going to make them richer. Never happens.

  18. Your programme is highly informative & educational.

    William Cooper who was an author/journalist did reveal about a "plan" called Majesty 12 (Operation Majesty). That plan outlined all of these things that were to happen from that time into the future. William Cooper had said " Whatever is gonna happen, that they are gonna blame it on Osama Bin Laden. Don't you even believe it".

    What is most troubling is that this was stated by William Cooper some 11 weeks before 9/11!

    7 weeks after exposing Alex Jones as a liar and a fraud on his national patriot radio show, he was murdered at his doorstep by the police on 6 November 2001.

  19. The government is always owned and operated by the capitalist. The east india company basically was the more powerful than the English government.

  20. The League of Nations failed for several reasons. One was that Wilson was a racist shit head who talked about things in idealistic terms but in practice did things like segregate the federal government while also being a proponent of Democracy by force. Which was just another name for enforcing capitalism on peoples whether they asked for it or not. Another reason was the fact that France and Britain were imperialists that didn't want to give up their imperial ambitions even though they just got the shit kicked out of them and should have been focused on investing in their own populations. They promptly divvied up the fallen empires to exploit while saying that Germany started everything and forcing astronomical reparations on them. There are more reasons why the League of Nations were doomed to fail, but these are the ones that I believe caused the most harm to Wilson's ideological garbage.

  21. I am ok with capitalists running things for a while without any pesky laws and I think the outcome would be calculated somehow in advance.
    The World should be fixed within minutes or even possibly longer than that.

    If you don't have taxes? People will start getting wealthy!!
    Your rich does it! So why not you?
    They get what you call tax cuts!!
    There is an inherent problem with taking a tax on a ten dollers and no tax on a million dollars!!
    No tax on sales, imports! Businesses! No tax on income! AND MOST IMPORTANTLY, NO TAX ON PROPERTY!!
    Remove all taxes? And your people will start living happily ever after!! >:^(

    Can anybody, please, conduct a study on: What will happen if there were no taxes? 🙂
    If you do that? I think you will find some really INTERESTING answers. :o)

  23. Are the emissions of the commercial laundry greater than the emissions of prople washing their own clothes? Should the ice cream vendor sell to the lowest bidder, and dthus eventually fo out of business? Sometimes Wolff's rants are absolutely ridiculous.

  24. President Trump on Wednesday signed an executive order aimed at helping economically distressed communities. The whole goal is to, one, leverage this private sector economic incentive through opportunity zones, and two, create that public commitment from the federal government to ensure that that economic incentive helps all Americans and would create a robust private-public partnership to revitalize urban communities.

  25. Murphy's Golden Rule: He who has the gold makes the rules & the rules are made in service of keeping the gold.

  26. Communism and labour party are the only way to prosperity. I'm not religious but I PRAY the American leftists can return to the marxist, unionist, workers peoples party. The SJW-ism is just a trick of the corporatists… workers unite against the American corporations.

  27. is that lecture of sholar? perhaps one with selective memory. that time when evil capitalists had plagued American society with economics depression, the marxist geniuses of social justice on the other side of Ocean had already divided and destroyed the lut among themselves resulting in milons dying of hunger and civil war as effect of policys advocated by Mr wolf.i have seen some of it with my own ayes. it is amazing how the leftists belive the receipt for fair society is theft from those that are arhitects of the products of consumption instead of implementing their own utopia into perfect economic model. where are the leftists fruits of creation and success? the answer – Venezuela, Cuba and North had been tried over and over always failing.

  28. About markets. If that laundry business was a worker cooperative, the workers would take into account environmental costs, because they live in that environment. And as for people with more money getting things before people without it who might need it, worker cooperatives would not allow for that level of inequality. So the problem isn’t the market itself, it’s how capitalists use the market.

  29. because big governments get big on the backs of capitalists work…. Then they steal from them, then they tax them out of town, then they blame them for all the problems. Pretty easy

  30. Dear RICHARD, I will ask again politely, PLEASE make video that is short and DUMB IT DOWN, so WE CAN send it to dumb Trmp supporting relatives. IF Brilliant people like you do not make short easy to understand clips soon, we may face a CIVIL WAR becuz people who are uneducated CANNOT clearly understand your complex comments. Pllease, I TELL YOU THIS BECUZ I USED TO LIVE MY WHOLE LIFE IN A GREAT EDUCATED CITY FULL OF EDUCATED PEOPLE (Seattle), NOW, I am (Becuz of too high rent there, ) I am forced to live in a town which is where my relative is which is doMINATED by RED REPUBLICAN VALUES. PLEASE, DUMB DOWN SOME VIDEO SO MAYBE WE HAVE A CHANCE TO EDUCATE THE IDIOTS. Its give away wisdom or civil war as I can tell. Thanx SO much for your work! YOU ARE AN ANGEL!!!!

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