Crisis of Capitalism, The Critique

This is a Fair Use Critique of RSA animate - radical sociologist David Harvey, where he asks if it is time to look beyond capitalism towards a new social order that would allow us to live within a system that really could be responsible, just, and humane!?

Harvey supposedly gave a lecture at the RSA (www.theRSA.org).

His entire argument can be debunked simply by looking at the Census data regarding income.

The original video can be found here:
http://www.youtube.com/watch?v=qOP2V_np2c0

Citations:
President's Economic Data:
http://www.gpoaccess.gov/eop/2010/2010_erp.pdf

Census Data:
http://www.census.gov/hhes/www/income/data/historical/index.html
http://www.census.gov/hhes/www/income/data/historical/household/index.html

Thomas Sowell Wisdom:
http://www.youtube.com/watch?v=n0MaY33LJZ0
http://www.youtube.com/watch?v=e2Nuy_gbMtc

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[plasticgreensoldier]

According to census data from 1970 to 2010, the size of an average household went from 3.11 to 2.59 persons. From 1967 to 2010, household income went from 40,800$ to 49,400$.

.52 fewer people are earning 8,600$ more!

Is that the drastic drop in household size that accounts for wage stagnation?

Also consider that in 1950 women accounted for 33% of the workforce and by 1997 that number was 60%. So the increased household income over the past 50 years may be due to multiple-earner households.

[NorthStarAritharo]

Lol, I was going to downvote, but then I saw the poster was a coward.

[MikeJGallagherJr]

@billayyyy ... No the Government intervened and forced banks to give loans to people who could never hope to pay for them...

[billayyyy]

This video is so incredibly flawed it hurts. He want's to base his entire argument and proof that Harvey is wrong on the fact that wages have gone up, yet he then uses the AVERAGE of income over the past 30 years?? SERIOUSLY??? Gee, I wonder why voting is disabled.

Also he states government regulation caused the financial crisis, which is true. Government intervention that REMOVED government regulation that was supposed to stop this from happening. Why did that happen? Corporate interest

[positronicum97]

@TheDispatcherator i love how you commented with an unbiased and factual approach including statistics and valid arguments.... oh wait....... u didnt XD

[plasticgreensoldier]

The capitalist connection between monetary gain and Liberty represents a serious issue in politics today.

Greed and wealth for wealth's sake is not Liberty. It is a base and instinctual reaction to the threat of limited resources.

But Liberty in the sense that this country was founded on was Liberty from oppression: not the Liberty to oppress for financial gain.

You are correct. The problem ISN'T capitalism. It is using buzz words like Liberty and Freedom to excuse personal greed.

[redllewellyn]

wages and gdp per capita arent the same thing, I stopped watching after he made out they were, ive no time for fools il just watch harvey again

[Tellthetruth61]

All wealth is the product of labor. - John Locke

Go to school ( loan ), get good grades, so you can get a "good" job, make lots of money, get a mortgage ( loan ) and a car ( loan ) and a spouse, ( loan ). Work/Consume/Die

Norman Cousins- "Death is not the greatest loss in life. The greatest loss is what dies inside us while we live." Majority of people play by the rules and never know peace. Something is wrong with that.

[theredscourge]

@TheDispatcherator you have cited as much evidence as him.

[TheDispatcherator]

@karve03 What else do you expect from a Randian? "Remember how I said I could disprove these claims using real objective sensus data? WATCH ME DO IT!"