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News Crisis of Capitalism

  1. Jul 23, 2010 #1
    Watch this lecture (animated) online:
    Last edited by a moderator: Jul 23, 2010
  2. jcsd
  3. Jul 23, 2010 #2


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    And then what
  4. Jul 23, 2010 #3


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    I got to the part where he parrot's Chomsky's factually incorrect refrain that incomes have stagnated or fallen since the 1970s and could go no further. Seems like the usual Marxist nonsense to me. Cool animation, though.

    Unless you have a point to make/discuss, this thread will be locked.
    Last edited: Jul 23, 2010
  5. Jul 23, 2010 #4


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    This does not meet our minimum criteria for starting a thread.

    Please be sure that you have read the guidelines beofere posting.

    https://www.physicsforums.com/showthread.php?t=113181 [Broken]
    Last edited by a moderator: May 4, 2017
  6. Jul 23, 2010 #5
    Ok, as soon as I saw Marxist’s "point of view" I knew where this was going. The commentator got something very wrong.

    He stated that the markets has been very symbolic of the Austrian theory (which is an incredible naive stand point- it hasn’t, because the Austrian methodology clearly doesn’t favor bail outs, and stresses that mismanaged private institutions and businesses should be allowed fail ), and then that many academics and economic policy makers should adhere to the Keynesian school (sorry to say that it has been Keynesian... we've been priming the pump... that's what all this deficit spending has been all about).

    People don't seem to understand what corporatism is and how it ties to government intervention which leads directly to control. Corporatism is not capitalism.

    He's right about the accumulation of capital, but he fails to see that it's the central planners that are also heavily benefiting by their economic policies.
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