Eric Schmidt at Capitalism and the Future, held by LIVE from the NYPL & the Aspen Institute

[VundaF]

New York Public Library is really big.

[2011rhythmdivine]

The implementation of the law, the legal system is the foremost issue.

[AlecEmpire]

The problem is not capitalism, it is our legal system. Capitalism can only work when corporation take responsibility for what they do - but our legal system allow them to do whatever they want and get away with it. A corporation is a "legal person" but has the same rights as a "natural person" without the same obligations as "natural person". It is quite simple to make capitalism work - just remove the "legal person" out of the Law.

[ChristineTeo17]

Capitalism cannot scale past the next two generations. Something is going to seriously change humankind over the next 10 years in order for us to survive the oil crisis of 2024. Otherwise, I will not be living in this timeline.

[mtherlihy]

The national debt expanded under president Bush from $5 trillion to 10 trillion, but now that Democrats are in power Eric Schmidt thinks we have a debt problem. Where were you when the Republicans wasted hundreds of billions in spending while cutting taxes?

[calibris]

Bad camera man <_<

[clincex]

The economic deficit is not a problem. Yes, that is a heavy statement, but I believe that with the rapidly emerging technologies and increased 'wealth from nothing' that is taking place in information technologies, the world will soon enter an era of economic surpluses.

[LoonySeo]

Screw the capitalism

[beeqool]

@LoonySeo dont use our capitalist internet

[godscuttingyoudown]

This is not capitalism, this is Monopolies

its morons like you that don't do your research and buy this spoon fed propaganda that free markets bad socialism and losing ones individual freedoms is good

Jp morgan, Rockefeller's, du pont, Edison, Bill Gates, Steve Jobs are all monopolists

they all used dirty tactics, stealing ideas, spying, theft, bribery, murder, overthrowing legitimate governments, destroyed their competitors

[amazingyou1uber]

I don't quite understand what you're talking about.

Are you trying to say that in a capitalist society, everyone is reasonable and good-hearted? All those billionaires you just named are HUMANS. Greed is a human disease. We are all humans.

Individual freedom? Google Richard Berman. Wake the fuck up!!!! Freedom is not good or bad. But if you think freedom is going to save this country, then you're a fucking idiot. Because I'm 100% sure Tyson Foods loves freedom from government regulations.

[MagnitudePerson]

@LoonySeo 1000% Agree,BTW ignore money gr££dy fuck beeqool Communism invented the Internet, Internet is Communism!!!

[nilbud]

Why would anyone set up a factory in the US? Uneducated workers, crooked politicians and a disintegrating economy doesn't appeal.

[alkmie]

All most factories care about is cheap labor those other things are all secondary concerns unless they are in a highend nich market.

[jkirk1626]

@nilbud Just noticed your comment from a year ago dissing the USA -- calling it uneducated, corrupt and unsustainable. That's a laugh from irish catholic conquered filth. We have a high proportion of university degreed citizens than most of the EU, esp ireland and even the UK -- your colonial masters. Clean White Anglo-Saxon Protestants aren't emigrating en masses to catholic s holes; it's always the other way around. Where are those EU billions stolen from clean Protestant nats?

[nilbud]

@jkirk1626 Your slow lame racist idiocy is a perfect example. A "degree" in religious studies or ebonics or surf board design from an uhmerican "university" is worthless.

As for your hilarious catholic / protestant guff it's always funny when a primitive such as yourself attempts to engage an educated civilised person from a real country such as myself. Go take your Jesus firmly by his long flowing hair and fuck him up the ass riding him like a bucking bronco you cowardly pathetic stain.

[serpagx]

I wonder from which planet this guys are from.

[wojtek0000]

14:20 because you have the same access to countless avenues of entertainment through those keystrokes and it's easier to be entertained than to seek out facts.

[xXAkridXx]

Gooooooooooogle google ggogle goo goog ooogoglelggoglel goog goog oggoogle ggoggle googleglg google gooogle

[Schwarttzy]

I'm so glade Eric Schmidt gets this, he scared me when he supported Obama

[HaoSci]

I give you guys two words: TRADE DEFICIT. The other things are relatively unimportant.

[Schwarttzy]

If you take oil out of the equation we are fine, which tells you one thing (and alternative energy can't pick up the tab fast enough), is that we need to drill for it ourselves, unless we put up some more nuclear plants but everyone thinks nuclear is not an option.

[ReliableInsider]

We had a liquidity crisis.

Allowing all the banks to fail or raising interest rates or doing nothing or any of the other insane economic ideas that Republicans proposed shortly after Bush destroyed the world economy . . .

would just have made the problem worse.

Thank God no one paid any attention to them.

[ReliableInsider]

Eric is right. Jobs are created by small businesses and new companies. Not by the aging corporations who have become corrupt and that run the Republican Party, such as the health insurance industry.

The reason Obama pulled the world economy back from the brink of total economic collapse, a Second Great Depression, is so that capitalism can continue to function.

The idea that saving capitalism is somehow socialist is absurd.

[jimgauth]

No currency has ever cured a disease, nor fed a starving child. Only technology saves lives and fosters progress. Money is the childish notion of "that's mine and you can't share it." Growing up means letting go of childish things. Let capitalism die and do not fear growing up.

[MagnitudePerson]

@jimgauth 100% Agree, theres SO MANY OTHER Ism's/System's out there BTW that onbody knowso f.

CRapitalism has fialed on so many levles, the whole concepts of it are dead. Fre Market dead, Individualism Dead, Corporations arep robably the only survviors becos of huge money stacks lol...

[MagnitudePerson]

@jimgauth Comment part 2: And of of many other underground/uknown and known systems are completley revolutionary fdor the world, not only Socialism>Communism/Red Anarchism+Green Anarchism/Primitivism(Wat...), Voluntarism, Agorism, Penetaliumism, Hegelism(Honestly im not sure), Many more, Etc. Honestly it is

[MagnitudePerson]

@jimgauth Comment part 3 HARD to find info about this because of the Conservatives(CRapShitVatives)­/Libertarians, and maybe allso Liberals fed Propaganda and TV Brainwahs/Internet controlling...

PS- Atleast BilL Gates "supprots" poor pls and makes Charity(Though most Charitys are 100% BS!!!) !!!

[MagnitudePerson]

@ReliableInsider Who said that "Saving Capitalism is Socialist?" Fox News? Glenn Bec(Representate of RePiglicans løl...)

[dd40001]

fantastic conclusion!

[jonmahoney04]

The debt comes from the Federal Reserve which is a private bank. All the do is print money and charge the government interest. Start printing money. This is retarded. The only way to pay it off is to borrow more which equals more interest. The system is so corrupt. This video is a waste of time. Nobody is addressing the real problems.

[DavidAKZ]

Haven't you forgotten the $500T ~ $1QT of losses as a consequence of failed OTC derivatives contracts ?

[doomtomb3]

You got it all wrong. The Federal Reserve System is not a private bank. It is the central banking institution independent of but works within the government. They are not corrupted by politics, their goals are to maintain high levels of employment, economic growth, price, interest rate, financial market and exchange rate stability. They don't print money. Money isn't created that way anymore. Money is created through electronic credit. Anyways, mostly they buy and sell U.S. securities.

[tranceire]

no, actually, you're wrong. the federal reserve has absolutely nothing to do with the gov. it's a private institution.

[doomtomb3]

read a book

[tranceire]

I have read many, most of which were very well written.

[LibertyJedi]

No private sector growth will only make the problem bigger sooner or later you have to deal with the fact that gov is 99.9% too big and will only get bigger. The sooner it collapses that better, because the longer it goes-on the worse the collapse will be. you can't tech growth out of this we have to wake up in the 24th century tomorrow, it like get real with that 3rd guy.

[doomtomb3]

the guy to the right of Eric Schmidt comes off as being a dick

[DavidAKZ]

which one ?

[doomtomb3]

the guy to Eric Schmidt's immediate right. He does a lot of the talking and makes these annoying comments while Mr. Schmidt is actually trying to make a point.

[evi0blackeagle]

capitalism FTW

[marjan15]

Is it possible to get whole debate somewhere?