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Thread: The Corruption of Capitalism

  1. #1

    Default The Corruption of Capitalism

    I cannot recommend enough a book, The Corruption of Capitalism by Prof. Guy Standing - he really does provide a thought-provoking analysis of what's gone wrong with our economic system.

    Just a taster:https://www.youtube.com/watch?v=nnYhZCUYOxs

  2. #2
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    I listened to his presentation, he doesn't say much except just state most of the obvious in terms of growing income disparity. His main initiative is to implement a basic minimum income which I can tell you right now will never fly in the United States it's completely impossible at the federal level. Maybe it could happen at the state level but it would still be difficult to implement.

    Part of his working thesis is that Trump is a neo-fascist and such a candidate is electable because of economic resentment by segments of the working class which is just terribly simplistic and incomplete. Trump is no neo-fascist except in the wild imaginations of the left and his election was due to a multitude of factors, not just of economic resentment but equally of social resentment of current establishment trends.

    The current system is definitely unbalanced and unhealthy. The rich are getting exponentially richer, the middle class is getting poorer, and the poor are going nowhere. Something has to be done, but wealth redistribution has never and will never work in the long term. The system has to be fundamentally changed in terms of incentives and economic participation. I would say that appropriately raising the minimum wage is an important step, but we should be careful to move too far away from meritocracy and towards institutionalized welfare. Also, education of practical knowledge & skills should be at the top of the priority list

  3. #3

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    Is Trump a fascist? In my view he displays many traits associated with fascism. It has been argued by many, including Jamelle Bouie, that Trump-ism, however ideologically inchoate, manifests at least seven of the hallmarks of fascism identified by the Italian polymath Umberto Eco. They include: a cult of action, a celebration of aggressive masculinity, an intolerance of criticism, a fear of difference and outsiders, a pitch to the frustrations of the lower middle class, an intense nationalism and a resentment at national humiliation, and a 'popular elitism' that promises every citizen that they're part of 'the best people of the world.' How many boxes would you tick of the aforementioned when it comes to Donald Trump?


  4. #4
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    You say all these things but the reality of it is that he's a simpleton. He has no grand views of anything beyond self promotion and acquiring assets. He literally stumbled into the presidency on blind arrogance and low brow insults. He's patriotically American but ironically has no idea how to improve the country

  5. #5

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    I wouldn't disagree with you Gordon but whilst you say he is 'a simpleton' he is, nevertheless, a dangerous simpleton - in the early years they mocked Hitler & Mussolini but look where that got us.

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