This man is a Communist. If he knows what Capitalism is, he is trying to redefine it or confuse us with meaningless words. Capital is not man-made, is is the natural process of each person pursuing his own best interest and, as Adam Smith observed, the whole community is lifted. The decline the man is talking about is the result of ever greater interference for government and the skyrocketing of demand for available capital coming from deficit spending governments. .
When considering value, I also think about companies who are creating negaitve socaial value. A dialog must be opened calling out those who produce assets destroy not the world, but the people. One industry that comes to mind as creating "fake value," is the porn industry. Think of the social damage this one industry creates. I think of its result as a major contributor to "social bankruptcy." Broken self, leads to broken relation ships, leads to broken homes, ends in a broken nation.
@deficithawker So then you nationalize them and wind them down properly, moron! You don't give them our hard earned tax money and say "Don't worry--it happens. Feel free to make the same kind of huge fucking mistakes in the future, because you know we'll bail you out. And don't forget those bonuses!" The market must have consequences, or the whole fucking thing falls apart and you get...well, the fucking financial mess we have now, and a lot of large, inefficient companies that haven't learned.
Want to spur economic growth and reduce unemployment without increasing the deficit? Talk to your local representative about lower our devastatingly high federal minimum wage!
@studentofprogress You are as dumb as dumb gets. The minimum wage is the problem??? rub two brain cells together! Our economic crash was caused by abusive banks trying to make insance wealth off of unsustainable loans. It was greed hubris, plain and simple. The engine of the economy is a healthy, consuming middle class. Stop trying to destry the middle class for the sake of the millionairs.
@IsraelGrey well I may be "dumb" according to your definition.. but despite my stupidity I have managed to create a profitable export company which now employs 24 people. I also know that I pay my workers 11 times more ($8.67) than my competitor in China to perform the same paper sorting process in China (and this is a low intensity 'sit down' job). At this labor cost it is ALMOST negligible to send the materials to the garbage dump rather than export them.
@IsraelGrey also please forgive my stupidity again but I wonder in your world, does this healthy consuming middle class derive its wealth from government unemployment benefits? How long does that continue, or I guess in other words how long can we increase our deficit before other countries start to question their investment in US Gov Debt?
More ivory tower B.S. from someone who can afford it. Government intervention, not free market economics, is the real problem. When companies screw up, you don't bail them out--you let them fail, and then wait for others to step in and take up the slack.That "teaches" companies how to behave responsibly much more effectively than anything else you could possibly say or do.
This man is a Communist. If he knows what Capitalism is, he is trying to redefine it or confuse us with meaningless words. Capital is not man-made, is is the natural process of each person pursuing his own best interest and, as Adam Smith observed, the whole community is lifted. The decline the man is talking about is the result of ever greater interference for government and the skyrocketing of demand for available capital coming from deficit spending governments. .
rcmonks 2 months ago
Genuis.
katheryncruz24 3 months ago
Companies must really make a mark so that they'll be remembered as great.
pamelbia2011 4 months ago
When considering value, I also think about companies who are creating negaitve socaial value. A dialog must be opened calling out those who produce assets destroy not the world, but the people. One industry that comes to mind as creating "fake value," is the porn industry. Think of the social damage this one industry creates. I think of its result as a major contributor to "social bankruptcy." Broken self, leads to broken relation ships, leads to broken homes, ends in a broken nation.
arseneremy 8 months ago
He's a genius
javed86 10 months ago
@deficithawker So then you nationalize them and wind them down properly, moron! You don't give them our hard earned tax money and say "Don't worry--it happens. Feel free to make the same kind of huge fucking mistakes in the future, because you know we'll bail you out. And don't forget those bonuses!" The market must have consequences, or the whole fucking thing falls apart and you get...well, the fucking financial mess we have now, and a lot of large, inefficient companies that haven't learned.
modernfreestyle 10 months ago
Want to spur economic growth and reduce unemployment without increasing the deficit? Talk to your local representative about lower our devastatingly high federal minimum wage!
studentofprogress 1 year ago
@studentofprogress You are as dumb as dumb gets. The minimum wage is the problem??? rub two brain cells together! Our economic crash was caused by abusive banks trying to make insance wealth off of unsustainable loans. It was greed hubris, plain and simple. The engine of the economy is a healthy, consuming middle class. Stop trying to destry the middle class for the sake of the millionairs.
IsraelGrey 1 year ago 3
@IsraelGrey well I may be "dumb" according to your definition.. but despite my stupidity I have managed to create a profitable export company which now employs 24 people. I also know that I pay my workers 11 times more ($8.67) than my competitor in China to perform the same paper sorting process in China (and this is a low intensity 'sit down' job). At this labor cost it is ALMOST negligible to send the materials to the garbage dump rather than export them.
studentofprogress 1 year ago
@IsraelGrey also please forgive my stupidity again but I wonder in your world, does this healthy consuming middle class derive its wealth from government unemployment benefits? How long does that continue, or I guess in other words how long can we increase our deficit before other countries start to question their investment in US Gov Debt?
studentofprogress 1 year ago
Comment removed
studentofprogress 1 year ago
This guy is good! I am begining to like his ideas.
YezdiRK 1 year ago
Just read Drucker !
carlbyronrodgers 1 year ago
Job creation will be the biggest problem tomorrow, things like SOCIAL Entrepreneurship , communities are rather quick fix , not a long term solution.
Only rethink Capitalism-Socialistic Capitalism.Umair thinking is smart no doubt about it.
Thanks.
debashishbramha 1 year ago
Whatever....zzzzzzzzz
luisetb 1 year ago
More ivory tower B.S. from someone who can afford it. Government intervention, not free market economics, is the real problem. When companies screw up, you don't bail them out--you let them fail, and then wait for others to step in and take up the slack.That "teaches" companies how to behave responsibly much more effectively than anything else you could possibly say or do.
modernfreestyle 1 year ago
His idea is just a dress up of the following:
companies need to think about the social costs they are creating....
Sure buddy.
firstspar 1 year ago
Nice video, this guy is a good and clear speaker, as it should be
Samhikk 1 year ago