Chris Hedges and David Harvey: Enough is Enough of This Capitalist Fraud

Dear Capitalism...

Image by Anirvan via Flickr

Dandelion Salad

with Chris Hedges

RT America on June 9, 2018

David Harvey, author of Marx, Capital, and the Madness of Economic Reason, discusses the future of global capitalism.

See also:

“Increasing the minimum wage or creating a basic income will amount to naught if hedge funds buy up foreclosed houses and pharmaceutical patents and raise prices (in some cases astronomically) to line their own pockets out of the increased effective demand exercised by the population,” David Harvey writes in “Marx, Capital, and the Madness of Economic Reason.” “Increasing college tuitions, usurious interest rates on credit cards, all sorts of hidden charges on telephone bills and medical insurance could steal away the benefits. A population might be better served by strict regulatory intervention to control these living expenses, to limit the vast amount of wealth appropriation occurring at the point of realisation. It is not surprising to find there is strong sentiment among the venture capitalists of Silicon Valley to also support basic minimum income proposals. They know their technologies are putting people out of work by the millions and that those millions will not form a market for their products if they have no income.”

via The Oligarchs’ ‘Guaranteed Basic Income’ Scam by Chris Hedges

From the archives:

David Harvey: What is Neoliberalism? + Marx, Capital and the Madness of Economic Reason

Michael Hudson, Stephanie Kelton, et al: Why Monetary Theory and Policy Is a Critical Terrain For the Left (Left Forum 2018)

Socialism: Our Alternative To The Madness Of The Market by Eric Ruder

Chris Hedges and Richard Wolff: An Unsustainable System

The Injustice and Crime of Extreme Inequality by Graham Peebles

“Creating Wealth” through Debt: The West’s Finance-Capitalist Road by Michael Hudson

What Would Socialism Be Like? by Leela Yellesetty (must-read)

A Basic Income Is Less Than Meets The Eye by Pete Dolack

David Harvey: Crises of Capitalism + The Contradictions of Capitalism

Neoliberalism: The Economic Model: Origins, Theory, Definition (2005)

7 thoughts on “Chris Hedges and David Harvey: Enough is Enough of This Capitalist Fraud

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  3. I must have missed this; so just listened to it almost a month later. Fraud is indeed an apt turn of phrase. A very thought provoking interview. Bloomberg’s recent article about family fortunes quotes the Carnegie philanthropic dictum: “To spend the first third of one’s life getting all the education one can. To spend the next third making all the money one can. To spend the last third giving it all away to worthwhile causes.”

    The irony is, that these ‘worthwhile causes’ may only exist as a direct result of the predations of capitalist excess. Such cake ‘n eat it cynicism ensures that it is those very philanthropic ‘Foundations’ that secure their benefactors’ enduring power and bestow hereditary control, in the name of social benevolence and ostentatious largesse.

    I’ve just watched an Al Jazeera investigation about the Ukrainian ‘oligarchs.’ Reading between the lines, it is quite evident that the global money game is gigantic scam. A colossal laundry. The beneficiaries are the most ruthless and ambitious power-brokers; the entire system is wretchedly corrupt. The politicians operate as pimps, and it is the Earth itself that is violated.

    Greed is not good Mr President.

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  6. Pingback: Michael Hudson: China’s Export Competitiveness = Underpaying Women – Dandelion Salad

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