Ha-Joon Chang & Kevin Gallagher, on Globalization

[mujaku]

In 1848 Karl Marx advocated free-trade as a way to destroy the bourgeoisie (i.e., middle-class). He said, that "the free trade system is destructive" which will serve to push "the antagonism of the proletariat and the bourgeoisie to the extreme point."

[Mordoms]

@mujaku

As David Harvey "admits", capitalism has been doing well up until the '80s.

This is where the west took a turn for the worse by investers investing in money instead of production and where in about 20 years the top 0.1% of income takers in US rose from taking 2% of the total national income to more than 6% and the ratio of CEO:worker salary rose from 30:1 to 500:1 (Mark Fisher in Capitalist Realism).

Marx was right, but couldn't have foreseen the selfishness of the '80s.

[Scientisticsoviet]

@mujaku And indeed it has.

[matchbox555]

chang is almost as smart as me

[rickbar123]

Neo/Libs

Neo/Cons

ALL ARE FULL OF BS

[4764258]

Needs subtitles :P

[mjkim420]

장하준 교수님 책 잘 읽었습니다!

[Aiden057]

I really like how Dr. Chang explains things, it's very important to get past the Myths, to expose and shatter them. Thank you for posting this video of Dr. Chang.

[wojiwodj]

american economists have been used for ideology since mILTON FRIEDMAN, upholding irrational idea's to prop up a rich corporate elite. Nothing wrong with a mixed system, third way, part nationalized part free market, nothing wrong with that.

[neonaction]

@wojiwodj the likes of milton friedman basically hide behind the false notion of "freedom" to propagate further exploitation of the poor and powering of the elite. milton is fucked face. Fuck him! Gosh I hate that fucking academic milton friedman

[Scientisticsoviet]

@wojiwodj Indeed mixed systems can be ven more complex then that; Consider that you can nationalize at the federal, provincial or municipal level; Have joint ventures with different kinds of private investors at all these levels (either with many many shareholders or a lesser more traditional figure). Add to that you can also have customer ownership, employee ownership and collective ownership. And all these can be mized together to various degrees.

And even started on actual management yet :D

[elmazote]

thanks...!!

[o0xst]

Ha-Joon is a great fube! Love hearin' his talks...

[samdonuge]

what a difference a year makes, especially a year in an era of late capitalism. ha joon was in the margins since i first read him a two years ago, now he's even on bloomberg!

[o0xst]

Really? Wow! That is great.

[lrtribst]

I agree with you, samdonuge!

[samdonuge]

now that chang's new book is out, i hope to see more of his talks online. great academic