Cornel West: How Intellectuals Betrayed the Poor

http://bigthink.com

For 40 years academics were duped into idolizing the idea of unfettered markets, says Cornel West, and now our society is paying a terrible price.

• Category

  Science & Technology

[4KRoNiiKz]

So you disagree with the idea of a fairer society? With the idea that the rich have too much and the poor have too little + wealth needs to be more equitably distributed? Maybe you need to look at the poor communities closer + see the bigger picture - see that families like the Rockerfellers + the De Rothschilds sit behind corporations faceless + make the 'rich get richer.' The global economic situation is ridiculous + the elite have too much, fact. The poor are unsupported + demonised, fact. Sn

[4KRoNiiKz]

Sure corporations don't use slaves or extort their work forces lol + please stop acting as if we live in a meritocracy, things will never be that easy for poor ppl. A few manage to make something for themselves + suddenly ppl like u use these cases to justify an unjust system + demonise the poor. I don't see any point in arguing about nationalising industries, your opinion is your opinion + I'm not gonna change it but out of interest do u think the rich should be taxed the same as the poor?

[Terlin1466]

at first i was like wtf then the more he talked i was like hell ya your so right.

[bryan padgett]

All traditional and historic models of economics are out the window in todays America . Anyone yapping about such precedents is simply not paying attention . There are 400 citizens in this nation that have more collectively than over 200 million Americans collectively . This constitutes an unchartered and wholely unknown economic landscape driven , I think , by an unprecedented and seemingly sociopathic greed by the insanely wealthy .

[ketsan]

Academia has been overwhelmingly anti-market for a century and sure there was a liberalisation that happened in the 1980s and early 90's but that only slowed the trend towards higher regulation, higher government control in the economy and more central bank interference. No-one can claim seriously that Friedman or Hayek, especially, have been listened to.

[christpa1]

He's talking specifically about economists (such as Friedman and Hayek, whom he mentions). And it's not that they are "Ayn Rand cultists", it's just that they...ya know...understand economics.

[christpa1]

This man clearly has no understanding of economics. There's a good reason economists have supported freedom and free markets: they work, both in theory and in observation. We can whine about "abandoning the poor" as much as we like, but what we observe over and over and over again is that the poorest individuals in free economies are far better off than the poorest (and usually even the average) individuals in command economies.

[Don Throughsix]

Courage in Democracy?

[DcmPt]

My country experienced fascism, socialism and now he's in a sort of capitalism, and i just want to tell you this: All systems work in their own way, it's the corruption, greed and dehumanization that fucks things up.Doesn't matter what ideology its established if the governments don't defend national (the peoples) interests, if it falls under the influence of big corps or political party agenda, if it allows unjust wealth distribution Its not capitalism vs socialism, its good will vs egocentrism

[James Crawford]

You could argue that but you would be wrong. The vast majority of subsistence farmers outside far away from capitalist markets and have their own land. Even before China began its economic liberalization they had to regulate rural to urban migration.

[smashfascismnow]

I love crypto-Marxists.

:D

[doctorliman]

I can just as easily argue that people are forced to leave subsistence agriculture because it is no longer viable due to encroaching capitalist corporate takeover and the destruction of local economy. Just because they are choosing to do it does not make it better.