A Marxist Analysis of 20th Century U.S. Capitalism
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- Опубликовано: 20 окт 2024
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#history #economics #NewDeal #Neoliberalism #FDR # Roosevelt #Reagan #USA #Marxism #politicaleconomy #crisis
For Further Reading Check out
Teeple, G. (2000). Globalization and the decline of social reform: Into the twenty-first century.
Panitch, L., & Gindin, S. (2005). Superintending global capital. New left review, 35, 101.
Resnick, S. A., & Wolff, R. D. (2002). Class theory and history: Capitalism and communism in the USSR. Psychology Press.
Richard Wolff - "Capitalism Hits the Fan"
• CAPITALISM HITS THE FA...
“The world’s ten wealthiest men doubled their fortunes in the first two years of the pandemic, as poverty and inequality soared.”
Why a statement like this doesn’t leave more people seething with a desire for change is beyond me!Too many people have been brainwashed into thinking that they’re just one paycheque away from being multi-millionaire titans of industry; where the established tax loopholes will finally work for them.
This, too, shall pass. Read Octavia Butler's Parable of the Sowers and the Parable of the Talents -
@@wehonewsso eerie…im reading parable of the sower right now
May not be true. I would like to see a list of these 10 men and an explanation of what assets appreciated and what income accrued to these persons.
There's a saying: "Americans are just temporarily embarrassed millionaires"
@@wehonews you are the first person I have come across who sees this! I read the books several years ago and had to re read twice this last year. It's eerie!
10:20 so let me get this straight.
Highways destroyed many cities and small towns in America and destroyed the railroads and streetcar / tram system.
However the programs that built those highways were federal work programs ("socialist" not really)
That were used to help unemployed people so that they wouldn't become socialist.
But the only way that people can make use of those new highways is by purchasing a extremely expensive capitalist product (a car).
So the American poor built their own enslavement instead of staging a worker revolt because they were told communism and socialism is bad.
This is suicide fuel
@@matroid10 great interpretation.
Disassociating time
someone cooked here
You can also think about it as the government strategically investing to secure public stability and long-term profit
they TAXED THE SHT out of the rich
I love the productivity v. wages chart, it clearly shows how the average wages couln´t keep track with productivity after the departing from the gold standard in 1971. Companies base their profit in goods and services, meanwhile workers recieve their salarys in fiat currency.
Why has the algorithm seemingly buried this excellent channel and its outstanding videos? I imagine you’ve said numerous things in your videos that both alienate any and all capitalist advertisers which I would imagine goes a long way both to your videos being demonetized, and your channel being all but ignored by the algorithm and not even suggested to someone like me until just two days ago.
Good luck to you; the information is excellent and the arguments thought-provoking and compelling.
Thanks.
My guess is that it's because the AI does not appreciate solutions that fail to fall in the neoconservative/neoliberal (Republican/Democratic) false dichotomy, and neither do Google's clients. They are the ones who had the benefit of collecting back earnings gained from strikes via collaboration, opening company towns etc. last century, and from giving clients "fair" wages via the illusion of keeping paycheks up with inflation as their assets continue to rapidly outstrip it.
Are we on a list now for watching?😂😂
@@dong7598Yes.
Any algorithm is against us.
Or maybe it got demonetized for being Chinese propaganda/disinformation...
just find your channel recently, your class and dialectical analysis is spot on, good job man
Have a look at the Falling Rate of Profit: one of Marx's falsehoods.
BEST VIDEO I HAVE SEEN IN YEARS. THANK YOU SO MUCH
Absolutely, this video shows the futility of trying to regulate capitalism. Like feudalism, it"s time capitalism be put into the dustin of history and we move on to a system based on real democracy and social equality.
That's a funny joke from a marxist who can't even run a broken autocratic system for 100 years before it patheticly collapses. Just because noliberalism/socialism has infected capitalistic and democratic societies doesn't mean those systems should be thrown out. We just need to get rid of the progressives and liberals to solve basically all our problems. Also feudalism lasted longer than any socialist form of government, so socialists somehow invented a form of government worse then "hey my dad was in charge so i should be too".
@@fredrickmansav6852 you don't "solve" problems by casting out progressives. It is those people (progs) who bring attention to the problems of capitalism like homelessness, crime rate, exploitation, discrimination, inequal wealth, etc. Casting out liberals and socialists won't solve the problem of capitalism you will simply silence people from bringing you bad news. Revolt will inevitably happen
I mean, I strongly despise many aspects of having full-on free-market capitalism, but I also don't think being a communist or leftist shouldn't entail full-state ownership of everything. Otherwise, it just becomes state capitalism, where the government basically runs the country as if it's a big business
"the futility of trying to regulate capitalism"- I absolutely guarantee that you've written that in a capitalist country, and I absolutely guarantee that there will be regulation for the private economy, in that country.
@@technoloverishwhich is why being communist implies shifting towards democratic control of the means of production by the working class, not by the state. Otherwise you’re right, it would only become a messy bureaucratic state capitalism. All power to the soviets.
Wow! Thank you so much for laying this all out and explaining it so well! I’ve been trying to catch up with my understanding of the reality of the US through a Marxist perspective since October. I’ve felt really foolish for not understanding before but accounts like this have really been such a helpful learning resource. Thank you ❤
October was a wake up call for a lot of people. For example, I didn’t even realize just to what extent the corporate media is willing to make bold faced lies all day every day, if it’s in the name of imperialism (was a kid in the lead up to Iraq). Never stop peeking behind the facade!
0:14 I can’t help but notice the divergence in the lines on the graph from the BLS appears to correspond almost exactly with the year 1971, which is the year Nixon took the USA off the “gold standard” and the beginning of the end of the Bretton Woods system. Economist Michael Hudson marks this event as incredibly important to the further growth of the USA’s “Superimperialism” (as Hudson calls it).
Any specific idea about the connection between these events in 1971 and the divergence of these lines?
29:00 Well … the settlement on petrodollars as a new gold standard kind of helps explain what happened next but not the rapid growth in productivity while wages remained stagnant. This still requires explanation; other than the sinister one that the GOP and economic conservatives simply lied and forced immense changes upon the US that everyone simply went along with.
Interested and knowledgeable peoples’ comments welcome. Thanks. And thanks for the videos! Terrific.
just found your video. I hope the algorithm is kind to you. This video is excellent and deserves a wider audience. All of your videos look good. I will watch them all and suggest them to others.
The fact the goverment expanded theater and arts as a way to prevent us from learning about better systems is scary, it’s the bread and circus.
As an artist…I can say that it’s better than TikTok, Netflix & Superhero movies being the source of brain rot.
Theatre still gave us Death of a Salesman & a Raisin in the Sun etc…..it was WAY more “high brow” and socially conscious than “Love Island”….
(Still don’t like it at the expense of perpetuating, funding & exploiting mass genocides and world wide economic crisis, but still.)
@@KayxzTarot I’m not like against art, though the economies of distraction and emotional suppression in a world with increasing insecure attatchment rates coupled with economies of addiction and etc etc etc. Like I think in a way when they say burnout society, the gravest thing societies do that I find evil is steal a persons executive attention away that would prevent them from going through the ambiguity and VUCA environment that is life, it’s like steal that not only are families more dysregulated , but people just can’t even see the prision they are in
@@KayxzTarot people also learn about things from those platforms though, it's not all bad
@@NotesNNotes There wasn’t a lot of less mess to sift through back in the day.
Everything has its pros & cons, I’m personally not a fan of the over saturation.
Yes, they have good things & you can learn a lot (hence why enjoy RUclips bc of videos like these), but it’s finding a needle in a haystack. Most of it is absolute junk, particularly compared to earlier forms of entertainment.
They didn’t, and we’re being intentionally dumbed down because the far eft are in charge
legit the best video ive seen in like 2 years
I khew about all that but you managed to set all facts in order with a dialectical approach... Excellent.
We need a modern system structured and controlled by the masses not by 50 people looking down on everyone,
7:54 Gotta love the brilliance of burgeois economists rediscovering things Marx observed decades prior😂
This is a false interpretation. As usual, people haven’t read mainstream economic theory and bash their idea of strawman economic theory.
Ever since economic theory started to develop, people have thought about macroeconomics. The grand theory of economics, general equilibrium analysis, is an expression of Adam Smith’s point that prices and exchange create incentives for economy to adjust to developments and grow, creating social welfare and improvements in standard of living.
People attack the strawman version of general equilibrium theory. Yes, even Austrians recognize that market economies don’t adjust to equilibrium immediately, although the idea of immediate adjustment from disequilibrium to equilibrium is a starting point in history of economic theory. Their attitude has always been that governments can’t fix disequilibrium because of how governments run. For practical examples, see Russia or North Korea.
Keynes noted that because the price of labor is fixed in the short run, market economy cannot self-correct and a business cycle can turn a slowdown into a bust. Because the price of labor does not adjust to a slowdown, the quantity of labor, employment rate, adjusts downwards, weakening consumer demand, business momentum and investment, and leaving everybody worse off. The solution to adjusting out of this slump is by government creating investment and employment, so that workers get paid, have more to spend, and then this demand has a multiplier effect on output, meaning it improves business momentum and investment.
What did Karl Marx say? He had this model based on older economists, who did not think about markets or general equilibrium as rigorously as later economists.
cooperative-individualism.org/keynes-john-maynard_a-self-adjusting-economic-system-1963-autumn.pdf
@@sakarikaristo4976 well, you clearly don't know Marx then 🤣
@@ulyanov17 He read Ricardo and had a wrong conclusion about the trend of distribution of income to labour and profits. His profecy that profits taking the majority of income distributed failed.
@@ulyanov17 Nonetheless, no economic system can overcome scarcity. To my mind, Marxists have this quirk thinking distribution of wealth and income would leave almost everybody better off. That’s not scarcity. The amount of money in an economic system influences prices. Governments can print out all the money they want to and distribute it, but it won’t create more welfare in the long run.
Just now seeing this. It’s a excellent video
Great work, subscribed
I love that you give a lot of the video clips time to breathe, too many creators love the sound of their voice and will summarize the words of speakers (like the Eisenhower clip) instead of letting it roll
Your writing is both patient and concise, a clear sign of control
Very interesting and well presented. However, it’s very glib to conclude that opponents of capitalism should support the entirely undemocratic government of China. They are in no way concerned with the interests of ordinary people, they just want to hold on to the private personal power they currently have.
I can't see how authoritarian capitalism, practiced in places like China and Singapore, can be allies to communism but I'd be happy to see your reasoning.
Totally agree. Having lived in China anyone who thinks it is a communist system is deluded.
China's economic system is the most tooth and claw capitalism I've experienced anywhere in the world.
I note that, so far, your excellent question, and challenge, has not been answered.
Similar vibes. Had me…until the ludicrous plug for china. Wow. Not a fan of dependence on Saudi or any foreign oil, but that’s not a reason to go full steam ahead with a pro China message.
Still better than 99.9 % of content on the internet!
The Communist Party of China still controls the commanding heights of the economy, and the capitalist class is subservient to it. While it is undeniable that China has introduced capitalism as a vehicle for growth, it ultimately still maintains party rule - a contradiction that prevents (due to the risk to Party rule) the opening of China’s capital account and its ascension to the role of leader & leading currency of the global capitalist system. Instead, the Party is attempting to become self sufficient, address social inequality and environmental degradation, and promote the development of the global south. You can quibble with China’s strategy, but it is wrong to conflate its system with bourgeois rule (as exists in other regimes with state capitalist system such as the US or Singapore or Japan) because the economy is set up to maximize the production of commodities rather than the profit of the capitalists (which takes advantage of capitalism’s tendency toward overproduction to use as a progressive force) and the Party maintains control of the towering heights such that it can deploy capital or destroy capital regardless of the wishes of the capitalist class and instead in the interests of the working class. It remains to be seen if China’s approach will result in post-scarcity and a transition to a socialist model - but it would be naive to discount it because of a purist distaste for their approach.
@@samz1950best comment on this thread.
@@samz1950 NOPE.
Keep up with the good work!!! American needs to be educated!!! Awaken!!!
Genuine question why does the end of the video take such a heavy pro-china stance? I mean I understand that china is directly challenging western hegemony but only through essentially capitalistic means. At the end of the day china’s bourgeois class will acts in the same way as the western elite class if given the chance. Viewing china as an ally in our “socialist” and “communist” struggle seems antithetical to the actual goals we have? Pls offer your perspectives and answers if im not getting smth !!
Do you watch Geopolitical Economy Report by Ben Norton?
I think it's good that China's bourgeois works for the government and not the other way around like in the US!
In the west, the state is subservient to capital, while in China, capital is subservient to the state
I hope these comments educated you.
Excellent analysis. However, as someone who has studied economics, you blur the lines between Austrian and Neoclassical economics. While they have much in common (worship of markets and capitalism), they are different schools of thought.
They don't worship markets. They just understand that markets are formed from the interactions of everyone, and contain information about people's choices and preferences: something that Communism has never done.
@@lochnessmunster1189 Disagree. Neoclassical economists, or at least the ones who are hardcore right libertarians, do worship markets. Non-neoclassical economists understand that markets contain information about consumers and producers. No one questions that. It’s the almost religious faith that markets will produce outcomes that are efficient and can solve just about any problem in society that separates the people I’m talking about and the level headed economists. Markets can certainly have positive features, like the relaying of information on consumer preferences, but they of course have limits, like what are called externalities. In particular, issues arise when there is great income inequality. With great income equality, consumer preferences will disproportionately reflect the preferences of those with the great wealth, who, not so coincidentally, tend to be the ones who have disproportionate control over production.
@@timc1604 No. I am largely a neoclassical economist but I don't worship markets at all. I understand their importance and significance but also understand externalities too.
Income equality won't affect the markets as long as everyone gets richer. It's only if the poor get poorer, that the wealthy will actually have disproportionate influence.
Regardless of this, there will always be certain markets (luxury cars, superyachts etc) in which the wealthiest will have a far-greater clout. But ultimately it doesn't matter; these markets aren't important to the goods and services needed by the rest of us.
@@lochnessmunster1189 well, you’re not the free market worshippers I was referring to (like Milton Friedman and Thomas Sowell).
Poorer can still get wealthier despite income inequality but that doesn’t necessarily mean but it does make it more difficult.
@@timc1604 Right, I see what you mean now- cheers. It's true that Friedman and Sowell did champion the market a great deal, but in almost every case I'd say they had good points. Certainly when showing how badly governments usually run things.
War does not stimulate the economy, the stimulus spending they do at that time is what stimulate the economy. We are a war clan in suites.
Semantics.
War destroys surplus laborers and destroys old forms of capital investment which makes way for new investment.
@@e.m.francis6946 our societies are based on insure general y and counter insurgency design thinking strategies and tactics.
@@e.m.francis6946 in other words it dosent actually create “more”. Plus that may only be in the country that’s attacked. Plus opportunity for new investment does not mean new investment occurs.
Now I'm late 2024 a home is nearly 7 years salary. We have a huge problem. Either late buyers go underwater and homes return to their realistic valuations or entire generations are shut out of home ownership and the classic method of wealth accumulation. Wall steers buying the float for now and manipulating market value, but no average income earner or smart person is biting, because the over valuations are obvious and impractical. It's just a poor bet to make. Greed put us in a pretty precarious position. Won't end well.
We need to pick up the fight for that 2nd Bill of Rights. the re-emergence of Technocracy should be included in this presentation.
A second Bill of Rights should be raised in the Human Rights Day (as framed by Eleanor Roosevelt) observed by the United Nations Association chapters throughout the U.S. on December 10th. Economic rights are Human rights by Walden Bello and Anuradtha Mittal (Oakland Institute). Also, Development Reimagined. Watch out for Center for Global Development which occupies a whole block in Washington DC with Larry Summers as board president, an astroturf organization of neoliberal NGOs.
This might be your best video yet excellent work
Thanks so much. Means a lot coming from my OG subs.
in otherwords, if you are self sufficient and refuse to buy commodities, capitalism falls. if you are self sufficient and even take care of others, the government that made capitalism falls. if you take care of everyone and promote their futures - along with getting rid of anyone willing to stop you from doing so - fascism falls.
A fine explanation, but one quible: the Soviet Union did not collapse, but was rather dissolved
Undemocratically at that!
This video is perfect. It’s comprehensive and concise. Definitely subscribing I hope you keep making more videos.
Until you realize the whole thing is a shill for Chinese propaganda...😂😂😂
This documentary is dedicated to Professor Richard D Wolff. Excellent piece of work. Thank you.
My grandparents had a little medal and a form letter that came with it from FDR in a frame on top of the kitchen cabinet. My grandma who grew up in the Midwest during the depression, spoke of FDR with reverence reserved for him and god.
The big banks still have hundreds of trillions of Dollars in off balance sheet derivatives. We only papered over the crisis in 2008. Those derivatives should have been liquidated and banned
Love of money and power is sin
Do you know Jesus Christ can set you free from sins and save you from hell today
Jesus Christ is the only hope in this world no other gods will lead you to heaven
There is no security or hope with out Jesus Christ in this world come and repent of all sins today
Today is the day of salvation come to the loving savior Today repent and do not go to hell
Come to Jesus Christ today
Jesus Christ is only way to heaven
Repent and follow him today seek his heart Jesus Christ can fill the emptiness he can fill the void
Heaven and hell is real cone to the loving savior today
Today is the day of salvation tomorrow might be to late come to the loving savior today
Romans 6.23
For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.
John 3:16-21
16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God.
Mark 1.15
15 And saying, The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel.
2 Peter 3:9
The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.
Hebrews 11:6
6 But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him.
Jesus
Your videos are amazing man !
Great video! Glad youtube recommended your channel to me. It’s rare that youtube recommends anything worth watching.
That was a great watch until your opinion at the end about China. For American workers you were talking about benefits given to workers through New Deal. Let's see what China has given to its workers even through it is fastest growing country by GDP.
What makes you think we socialist should ally with China? China is still a capitalist country participating in Global Capitalism. It has not lifted people from poverty (i-e 50% of China's population have monthly income of less than 140 USD). China doesn't provide 100% employment. China don't even give any social democratic policies like Free Education & Free Healthcare to its citizens let alone immigrants. It even censors their opinions if they criticize government.
Just because China seems lesser of 2 evils now doesn't mean it can't become vicious in the future. The nature of Capitalism is anti-democratic, which makes it violent.
Also about your point on China being "Peaceful Negotiater"
1. China also invaded Vietnam (read history)
2. China funded Afghanistan Mujahideen against the Socialist Government in Afghanistan (Soviet Union supported Afghanistan while China supported Pakistan and Far-right Mujahideen)
I urge you to dig deeper on China and move above the theory of "Multi-polar world". The problem is Capitalism & Bourgeois which also control government. Chinese Communist Party is also dominated by Bourgeois. Learn more about Chinese working class conditions, which is actually harder to find information.
"Workers of The world unite!"
I am a sinologist and a moderate on the PRC and the CCP.
China is not socialist. Anybody who has lived in china can tell you that. even Americans realize that, because China is even more capitalistic than the USA. Ow you enjoy free roads? What about every single highway is a toll road, and you pay depending on how far you go.
Real life example. I went from Beijing airport to my university in central Beijing. the toll road did cost 12RMB, and the total was 54. It was more than 20% of the cost. Entering the highway you get a ticket saying where you started, and then at the end you hand them your ticket and you get to know how much. The GPS in China can calculate the costs, so you know it in advance.
People are paying for air purifiers so they can get some fresh air. Water boilers so they can drink water. 😒 Sure these are problems in the USA, but they USA does not claim to be socialist, nor care much about the American people. The CCP claims to be "the voice of the oppressed and working class comrades" no working class person has ever been a leader of China. The closest was in the Song Dynasty when a lower middle class man became the emperor and he stopped the corrupted that kept oppressing him, and instituted freedom of speech. That was the first and only time, where it was not illegal nor looked down upon to go against the leader. The Song ended 800 years ago. They also invented leisure time for the peasants due to new breakthroughs in agriculture, such as modern rice. 😅 So many peasants began to learn how to read and write. So we have diaries from peasants in the Song dynasty talking about their struggles and joys from 1000 years ago. 😊 To me, that is amazing.
But that is beside the point.
I am having real discussions with my Chinese friends on the topic of, is your life better under the capitalist system vs the first 2 years of Mao?
Mao began to go crazy after the first 2 years. And it is amazing that all of his amazing reforms and ideas were all implemented within 2 years. Imagine if that kind of progress could be made in 2 years today. Free education, both primary and higher. Free Healthcare, including in the rural areas (barefoot doctors). Employment guarantee, housing guarantee, Food guarantee, freedom of assembly, freedom of speech, and so much more.
@ayaz372 Yes I was perplexed as well when he accused the the neo liberals of stoking Taiwanese and Ukrainian nationalism as a distraction ! Are you being paid to represent something?
Thank you comrade! Are you in the RCI? If not you should be!
@@taiwanisacountry An urgent question is: What is it that sabotages these promising beginnings????
@@dmkuchins6646 that power corrupts. And that absolutely power corrupts absolutely. I am not sure why you need me to tell you that.
You’ve given me so much content to binge while working, thank you for this!
Chinese W. I think the PRC is on the right path. They have learned from mistakes of the past and will show the world an alternative still exists. All in good time. Incredible video.
I read one report by the WSWS tha I cannot locate at the moment, that stated during the post war boom, Americans, who represent around 5% of the world's population, were consuming 50% of the world's commodities. The US was also producing 5 out every 6 motor vehicles and 30% of the world's steel.
I was born in 1959, (at the end of the last ice age) and I vividly recall just about everything was stamped "Made In Japan"
According to the American debt clock web site the median home price in 2000 was $166, 900. The median wage in 2000 is listed as $31,991
According to the same website the current medain home price is $405,000, while the median wage is $39, 799
Latest inequality figures for the US, The wealthiest 10% control 69% of all wealth...not surprising. However the bottom 50% now share just 2.43%
Don't forget to vote blue 💙💙💙 before you starve to death
Just discovered your channel, excellent video. I’m newly subscribed!
i wouldn’t say the violence of capitalism resolves anything. it only perpetuates its own mediocrity. mediocrity is the word i would use for the violence of capitalism, and it suffers from its own mediocrity, and lashes out from its own self hatred. we all deserve better from ourselves and from each other. I don’t think people truly understand how incredible life could be if we can overcome this limitation
Thank you bruv
This is excellent.
Great work
Woodrow Wilson was the most wicked man in American (political) history, but Nixon was the second-most. The chart at the first of the video says it all: not only did currency speculation rapidly **increase** as a result of depegging the dollar from gold, the "temporary" "90 day" (e.g. eternal) suspension Nixon enacted also allowed the recollection of hard-bartered wages through the subterfuge of "raises" merely matching inflation as their earnings continued rapidly outshining inflation. No company town necessary. It also rapidly accelerated the currency speculation it was supposed to end - there are videos of traders excitedly going about it the very next day, snickering.
I don't agree with all the solution proposed, e.g. the dictatorship of the proletariat over the kulak, internal violent revolution, all of the bulk that caused problems in the USSR and China like mass price controls, government ownership of land leading to widespread criminal-government corruption, useless measures of productivity falsely inflating the effectiveness of the system e.g. the mile-ton measurement supposedly capturing the productivity of factories and the disbursement of product across the nation when people were just driving overloaded delivery trucks uselessly up and down roads near the trans-Siberian railroad and so on.
But the problem has been correctly diagnosed.
Exactly.
Neostalinist solution: believe the Chinese Burocracy that in 100 years they will reach socialism
catching shadows? goated music taste
I love it. I use it in a lot of my videos.
My Dad always said that it was the war that ended the Depression. War always enriches the Masters of War. FDR enriched the Masters of War. WWII is always painted as the Good War. To me it was a war and had the logic that war always has. As Ike told us: beware of the Military Industrial Complex.
Dude, you can't just flash Butler's face up like that implying he was the bad guy. The dude was instrumental in stopping it from happening! 😂
Greatest vid on RUclips
For those wondering the background music is called "Dennis Lloyd - Nevermind"
Great insights!
Idpol is neoliberalist-approved activism. Adding 32 hashtags to your identity with no mention of economic class is just hyper focused rugged individualism and is privileged as fuck.
Great video! Due one on HJR 192/ 1938 Erie Railroad case, Removal of Lawful money ushered in the Color of Law and the Courts of Equity which combined Civil and Criminal actions.
American National/ State Citizen
These are very good videos from a point of view, the Marxism guides are excellent. The problem is with the ideology when it goes past analysis. At the end of this video the exhortation to build a party that can lead the masses and the notion that China is the future both seem so false that it damages what are otherwise very insightful videos.
The best video on the Internet
Thank you very much.
As much as I disagree with you on your stance on China at the tale end of the video, I would love to hear your analysis of China!
Next big video is on the birth of Chinese Communism and the Long March. Stay tuned, comrade!
@@redpen1917 you and oh it’s butcher are by far some of the finest Marxists when it comes to explaining things. If you haven’t heard of him you should check him out!
Excellent video
i fail to understand how was productivity measured in the graph at the beginning of the video
It should be noted taxation and the New Deal legislation were policies put forth by the Roosevelt administration, however most had to be written into law by Congress.
The soviet's were offered less than Germany after Bretton Woods.
The funny thing about the gold standard, is you could use rubber ducks instead of gold and the system still works
Or some Poppys, or something like that.
No you couldn’t. You must be a leftist
Or your mom...
"the overriding purpose of the new deal was to provide income and employment for workers" - no, it was to subsidise the capitalist economy with cheap labour. Automobile companies aren't profitable without good roads paid for by the public.
Actually it was to keep the pitchforks at bay and alleviate some of the desperation and anger of the working class. In order to save capitalism and avoid a workers revolution. The *method* of accomplishing that was to provide employment, income, etc.
@@NunyaB1105 that was one purpose, but the *overiding* one was to adapt to the new needs of capital accumulation. capitalists could not afford to invest in production/employ masses of people so the state stepped in, thereby enabling and cheapening production of equipment and infrastructure that capitalists need to purchase or use to function. The result was the same as any other 'form' of capitalism - a concentration of capital ownership into fewer hands. Read my book for extensive analysis (Socialism or Extinction by Ted Reese)
The wage stagnation is a direct correlation to the ending of the gold standard. After the US government was no longer bound by the gold standard it was politically incentivized to spend spend spend and thus print money which deflates its value. The issue of our spending and our debt will not be fixed until it becomes a crisis and it becomes politically advantageous to do so.
During the pandemic DT increased the national debt 40%, printing $8 trillion, gifting $4.5 trillion to corporations as bailout money, also giving them tax cuts. Corporations have merged with government, donating millions to politicians.
Excellent video brother
Good up until 44 mins, and then the wheels fell off.
Your video narrator states that Eisenhower's Military Industrial Complex speech took place in 1953. It took place when he left office in 1961.
Great video and I look forward to watching more as this was my first of yours. I feel you didn't address the massive losses of life in China and the Soviet Union during their rapid industrialization, not to mention massive authoritarian rule and suppression of social movements.
When was the minimum wage law put place? What was it and did it hold it point as you requested?
I have made a new form of capitalism. Reason Capitalism.
What is reason capitalism?
First we need to redefine what is capitalism.
Capitalism is currently understood as the means of production facilitated through privatization and by that property that is owned independently and often personally or individually.
What is that called capitalism? It is inadequate. So I will first give this definition given to Capitalism a new word(s) to identify it as. Private Capitalism.
And now as for capitalism, it would be best understood as an emphasis or socialized central tenant in society grounded on what is capital.
So now, what is capital?
Capital is the means of production which includes but not limited to finance (money), labor, ideas, values, land and natural resources.
Reason Capitalism unlike Private Capitalism is the emphasis of society grounded in the means of production (capitalism) facilitated through reasonable articulation, verification, affirmation and fidelity. In other words, capital is facilitated through what will be best through reason articulated, verified, affirmed and remain as such until reason stipulates one of the former points is or has become inadequate. This could be private, they could be collective. It depends on the verification and affirmation process that is utilized. Articulation is essential to challenge the status quo which in turn requires verification and affirmation against the fidelity of an existing and established system.
Vaush would love this because he can challenge Elon Musk by changing his system from private to collective as many times as he wants and just needs it affirmed once to make that change happen. So if you are a socialist, you would love this system. And if you honestly believe and can prove privatization is better, then you would also love this system.
"But isn't this the system we already have?"
No. We have a very strict minded, have it as it is, if you don't like it, go somewhere else economic model regardless of it being privatized or collectivized.
"But it won't work for investments because you cannot sustain a system that is constant flux."
Except constant flux is necessary to maintain an economy in terms of the liquidity of cash and the progress of society as a result. Therefore, you can maintain the existing system of investment or you can change investment as I have done to capitalism to make something more efficient and able to adapt to this system.
This can be done, since I have to explain everything, by using quotas and geographic blocs rather than wholesale investments. You don't invest in a specific company. You invest in a group of companies performing the same function in a given area. I mean you still could make investments on individual businesses if you want, but if you want a more safe means to invest, then you invest in an area.
"But what about companies that are global."
You can only invest in the wing of that company that is relative to that area.
"But that ruins competition."
Investments are not competition. They are cooperation. The success of a business is decided on its ability to sell stuff, not uphold an investment given to it.
"This would ruin an economy."
Do you have proof?
"Do you have proof it would work?"
Yes.
"Do you have proof that it could that isn't tied to something fictitious as aliens from space."
Life from space is not fictitious. It is a reality. If you want your evidence and you really want evidence and you are willing to be explained that evidence, given I don't wish to hold up too much time, then go talk to Vaush as I am sure he has something on hand that can validate this at least enough to match as much confidence as the current system. If you want more confidence, then you need to try it out to see if it fits you like clothing.
Subscribed!!!!!!!!
Bloody sad man, i love my grandparents but they really screwed me over with their political decisions
FDR sure underestimated his own class.
Er…. In that 1932 Inaugural photo, that is FDR and former President Herbert Hoover
Okay?
Labor unrest, tension with employers, are essential. Quieting labor tensions with employers brings stagnation.
The only thing worse for modern socialism than a conservative, is a tankie.
The Soviet Union was not Marxist. It started off as an oligarchy which mostly genuinely wanted to succeed at socialism, but it quickly collapsed into fascism.
China has never been Communist. Tbh, they never really graduated from a classical Empire.
Authoritarianism is directly opposed to communism. You cannot have both. If you support the Soviet Union, you are not a Marxist. You are a Leninist at best. It means you believe the working class is too stupid and incompetent to accomplish socialism without a "transitional" centralized elite who controls everything. And that transitional government is neither socialist nor communist. They are just a transitional oligarchy.
I am a Democratic Socialist.
go away cia
thank u i was looking for a comment like this
If you’re still a demsoc rather than just an anti-tankie Marxist then you need to read more theory quite frankly, but I overall appreciate this comment despite its lack of Marxian precision.
So, how are you going to take political power from the Bourgeoisie using their own Democracy, and how that isn't going to end up with your movement being couped?
"I am a democratic socialist" it really shows lol
2024 and a home (at least here in Canada) is no where near 5x the median income. I think you are using median household income which requires one LARGE caveat. In the mid 20'th century most homes were single income households, while today most households are multi income households. This fact alone needs to be addressed since simply working incurs costs to the worker (transportation, lost time at home, etc) that makes a single income homes have an economic advantage over multi income homes.
Great video!!
The consumer is partially responsible for their wage predicament. Unions warned Americans about buying foreign goods and the impact it would have on wages. Unregulated Capitalism seeks the lowest costs. People wanted cheaper goods. It became a race to the bottom in the west while China went from a poor third world country to the second largest economy on the planet. In a Republic the public had the power through the vote to stop job destruction but they wanted cheap goods. Consumer greed has made corporations very wealthy while wages stagnated. In a country that has the vote, the power and responsibility lies with the people. Scapegoating Capitalism is just more denial of who is actually to blame.
You left out the meeting between FDR and Ibn Saud following the Yalta conference.
An excellent informative bit of information here. Two critiques: 1) Its title prevents its ability to be widely accepted in the US, where conservative mindsets will reject it outright even if its contents would purport to lift their standard of living. 2) Its conclusion starting at 44:10, which I may rightly agree with, will further impede acceptance by the masses in the US. If it were otherwise disseminated as regular rhetoric without these two impediments, I could use this and reach a much greater audience. By far.
All this said, in general, this is a great video. It hit on and confirmed many points which I have previously researched and compiled in the annals of my mind.
5:05 - Bingo!
Be careful what you wish for, you might get it. I definitely agree that reform is highly overdue, but not sure about looking to China as the poster child example. Also in order to ferment the kind of radical change you are discussing, we would probably need to either have another great depression type of era or a civil war (which would roughly be the American equivalent of WW1/WW2 before it became a worldwide conflict).
It’s already here, brother. The collapse of the American empire is a process not an event.
@@redpen1917 agreed, a process which will probably culminate in something terrible before things start to progress towards a new, hopefully prosperous system for the average American. WW1 and WW2 arguably were that culmination for the collapse of the old order of European imperialism, I pray to God that we don't have something like that in our future.
@@mattt2094 China isn’t going to save us, but they are setting the most successful example of socialism in world history, outdoing many achievements and correcting many shortcomings of the soviet union.
@@redpen1917 But doesn't China have major problems right now also? Democraphic collaps, deflation on luxurary gods and inflation on everyday items. A dictatorship that controlls everything and prioritizing their power over everything else.. is this most successfull example really gonna end that well?
@@redpen1917ahh yes “socialism” with an extremely wealthy and powerful bourgeois class that is extremely intertwined with members of the singular political party that controls the republic. The republic being a form of government that Marx implicitly stated to be inherently bourgeois do to the way nationalization within it tends to recreate bourgeois class relations (see on the civil war in France and critique of the Gotha program; two pieces of Marxist theory you Stalinist shills seem to hate for some reason. I wonder why.) I mean honestly this was an amazing video with a great dialectical analysis of American capitalism, but you really need to extend that ruthless critique to all forms of capitalism, even if they aren’t the global hegemony and they’ve falsely parroted our aesthetics. The tendency of MLs to support “oppressed nations” is quite frankly bourgeois in nature. The concept of the nation was quite literally formulated during the bourgeois revolutions of the 18th century to convince the working class to take up arms in a cause that would enshrine bourgeois power within the new state apparatus. In the modern day nationalism is used to distract the working class from class antagonisms by propping up artificial antagonisms like “our foreign enemies”. Whenever you defend xenophobic, class collaborationist, and hyper-nationalist states like China or Vietnam just because they carry communist aesthetics you are falling prey to the very petit-bourgeois Lasallean notions of “socialism” that Marx warned about that don’t truly do away with bourgeois ownership, but rather seek to extend the privileges of the bourgeois to the workers. This is to say you’re basically advocating for a more autocratic method of Nordic model capitalism that can’t even be considered a dictatorship of the proletariat let alone “socialist”. According to the logic of a ML that claims China is “socialist” FDR’s America was “socialist”. “Oh well China’s raised millions out of poverty with its safety nets and the way state officials have regulated capital”. WOAH FDR DID THE SAME THING WITH THE REIGNS OF A BOURGEOIS STATE. Guess that means he was a real and authentic socialist revolutionary! “Uhmm well actually the workers have control of the government through the singular party that they can’t vote out so it’s a dictatorship of the proletariat and therefore socialist!” WOAH, the unions were super strong in FDR’s America and through his party they actually had massive influence over the bourgeois state. Guess that means FDR’s American was a Dictatorship of the proletariat and therefore socialist!
For a dictatorship of the proleteriat to actually exist the proletariat must be in direct control of governing themselves as if they are not then they are being alienated from control of society and from control over the means of production. Representatives through their separation from the working class will if given the power of a bourgeois state inevitably develop contrary interests to the workers they’re supposed to be “representing”. A republic that alienates workers from direct control over the means of production will always be opposed to the goal of socializing the means of production and it can therefore never be a DoTP or socialist. Now let’s say it could be a DoTP well it still can’t be socialist because socialism is a global mode of production. For as long as capitalism exists any nation with a DoTP in it will need to make and sell commodities on the global market to create the revenue they need to buy goods that are necessary for the proletariat’s survival as with the onset of the global capitalist economy and specialization no one nation has all of what its people need within its borders. Once this occurs the nation pretty much just becomes one large capitalist firm that every worker has a share in elevating them to petit-bourgeois. The means of production hasn’t truly been socialized if the profits from the commodities are still effectively being alienated from all members of the proletariat not within this nation.
Just getting started, but @5:50 you have Herbert Hoover erroneously referred to as John Vance Garner-- and that should actually be erroneously written as John Nance Garner. So what else is poorly researched in this thing?
Thanks.
Democracy is when those who make decisions on your behalf have the duty to ask for your consent first. Today's republics are actually modern oligarchies where the interest groups of the rich are arbitrated by the people, that is, you can choose from which table of the rich you will receive crumbs.
The "fatigue" of democracy occurs when there is a big difference between the interests of the elected and the voters, thus people lose confidence in the way society functions. As a result, poor and desperate citizens will vote with whoever promises them a lifeline, i.e. populists or demagogues.
The democratic aspect is a collateral effect in societies where the economy has a strong competitive aspect, that is, the interests of those who hold the economic power in society are divergent. Thus those whealty, and implicitly with political power in society, supervise each other so that none of them have undeserved advantages due to politics. For this reason, countries where mineral resources have an important weight in GDP are not democratic (Russia, Venezuela, etc.), because a small group of people can exploit these resources in their own interest. In poor countries (Romania, Bulgaria, Greece, etc.) the main exploited resource may even be the state budget, as they have convergent interests in benefiting, in their own interest, from this resource. It is easy to see if it is an oligarchy because in a true democracy laws would not be passed that would not be in the interest of the many.
The first modern oligarchy appeared in England at the end of the 17th century. After the bourgeois revolution led by Cromwell succeeded, the interest groups of the rich were unable to agree on how to divide their political power in order not to reach the dictatorship of one. The solution was to appoint a king to be the arbiter. In republics, the people are the arbiter, but let's not confuse the possibility of choosing which group will govern you with democracy, that is, with the possibility of citizens deciding which laws to pass and which not to.
The solution is modern direct democracy in which every citizen can vote, whenever he wants, over the head of the parliamentarian who represents him. He can even dismiss him if the majority of his voters consider that he does not correctly represent their interests.
It's like when you have to build a house and you choose the site manager and the architect, but they don't have the duty to consult with you. The house will certainly not look the way you want it, but the way they want it, and it is more certain that you will be left with the money given and without the house. It is strange that outside of the political sphere, nowhere, in any economic or sports activity, will you find someone elected to a leadership position and who has failure after failure and is fired only after 4 years. We, the voters, must be consulted about the decisions and if they have negative effects we can dismiss them at any time, let's not wait for the soroco to be fulfilled, because we pay, not them. In any company, the management team comes up with a plan approved by the shareholders. Any change in this plan must be re-approved by the shareholders and it is normal because the shareholders pay.
Real shit put simply. If only everyone could see what happened.
41:25 I think you meant “trillion” here, not billion?
When the dollar went from being pegged to gold to being the petro-dollar. 28:12
amazing video
I am no Marxist, but the fact remains that advanced energy technology has been kept from humanity for many decades now. Engines that run on water and emit pure oxygen into the air, purifying it, and so forth.
The overwhelming majority of the cost in producing something is the amount of energy used. I don't mean human labor. I mean transport, manufacturing etc
So, if human kind had not been kept intentionally antiquated -- enabling a few evil men to get ungodly rich -- and the cost of producing energy is negligible, everyone in the world would basically be as a millionaire. And everyone would be free to pursue their desires.
I do not ascribe this to capitalism, but to evil. If it were not for evil, the whole world would be free. But the world is full of evil people, and CERTAINLY evil socialists and Marxists.
That's me two cents, for what it's worth!
👏👏👏👏
With the current viewer count after a year I don’t know if I’m stepping into a hidden gem or it’s just a bad take
It's an ok but pretty unnuanced take with a very ahistorical dive at the end talking about Russia and China... I mean seriously, how uneducated do you have to believe that the Soviet Union "single handedly" defeated the Nazis. I mean have you ever heard of Lease Lend? Or D-Day for crying out loud!
@@mrzfunkwell tbf the Red Army did stomp the Nazi's asses on the western front and it waa pivotal in forcing the diversion of troops from the eastern front and made it easier for Patton and the 3rd Army to take the country.
Good job
Unless greed is shamed and regulated all economic systems will fail. Unfettered greed is currently careening the world to a mass suicide. That’s exactly how serious it is.
Keynesian Capitalism vs Neoliberal Anti Capitalism
Ty❤
17:20 They didn’t really single handedly defeat the Nazis on the eastern front, lend leased equipment from the allies played a large role in the soviet pushback against barbarossa. I think your point still stands with the heavy loss of troops and securing of eastern europe but it feels a little disingenuous to say it was all the soviets on the eastern front. Again, I still agree with your point overall and the video is great.
Wow! Excellent video. Thanks so much comrade🌹♥️
He was cooking for most of the video... but then he decided to turn it into Chinese-state propaganda...
so he cooked even better
hell yeah!
Because the USA is definitely better, right? More child blood for the stock prices?
And earned himself a new subscriber for having a backbone and not just blindly condemning whomever the state department says is bad this time
Sounds like the Jones Plantation