Is Capitalism Part of the Answer? - 04 - David Graeber speaks
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David Graeber speaks The Debate is facilitated or chaired by Amrita Bhohi, Proposing the motion is Mark Goyder, founder director of Tomorrows’ Company, the City’s leading think-tank. He is opposed by Professor David Graeber of LSE. The motion is seconded by Dr Dave Dewhurst, of Occupy London, (emphatically speaking in his own capacity). The concluding argument for the case against capitalism will be Dr Ann Pettifor of PRIME Speakers biographies: Mark Goyder Mark Goyder is an award-winning speaker, writer and broadcaster with over 15 years’ experience as a manager in manufacturing businesses. He is Founder Director of Tomorrow’s Company (www.tomorrowscompany.com) a London-based globally focused agenda-setting think tank that works with business leaders and investors to shape the future of business success. Tomorrow’s Company developed the concept of the business licence to operate and redefined the concept of corporate social responsibility in the 1990s. Its original report laid the foundations for the extension of the duties of directors in the 2006 Companies Act, and its 2008 report ‘Tomorrow’s Owners’ paved the way for the development of the world’s first investor Stewardship Code. Its report ‘Restoring Trust – financial services in the 21st Century (2004) stimulated the emergence of the UN Principles of Responsible Investment, Mark has current advisory roles with Alliance Boots and Camelot, and has previously worked in such roles with directors of BA, BT, Novo Nordisk. The latest edition of his book ‘Living Tomorrow’s Company – rediscovering the Human Purposes of Business’ was published in India in 2013 and described by Charles Handy as ‘by far the best, and most readable, account of capitalism’s current discontents’ . Reviewing the book, Farrokh K. Kavarana, Director, Tata Sons said “Living Tomorrow’s Company is a remarkable and learned tome which is bound to become a standard text book in the MBA programmes of enlightened business schools around the world and a “must read” for all businessmen who wish to be successful the “right way”. Dave Dewhurst Founder member of Occupy London’s Economics Working Group & involved in a range of public speaking & writing as a result. He is currently co-operating with the Jubilee Debt Campaign to establish a UK+ Debt Audit. David is Secretary of the Cybernetics Society and has a PhD in Cybernetics (common properties of large complex systems) A former Headteacher, Lead Ofsted Inspector, management consultant and Tesco’s floor cleaner. After A-level economics he was offered a job in a Manchester merchant bank, and demonstrated an early understanding of the financial system by rejecting it. Ann Pettifor Ann Pettifor is a Director of Policy Research in Macroeconomics (PRIME), Honorary Research Fellow at the Political Economy Research Centre at City University (CITYPERC) and a fellow of the New Economics Foundation, London. She is best known for correctly predicting the Global Financial Crises in several publications including "Coming soon: The new poor”[1] and her 2006 publication "The coming first world debt crises" (Palgrave Macmillan). Pettifor's background is in sovereign debt. She was one of the leaders in the Jubilee 2000 debt campaign which succeeded in writing off $100 billion of debts (in nominal terms) owed by 35 of the poorest countries. She is also Executive Director of a consultancy Advocacy International, which undertakes advises governments and organisations on matters relating to international finance and sustainable development. Ann Pettifor's recently published: Just Money: How Society Can Break the Despotic Power of Finance (Commonwealth Publishing 2014). David Graeber David Rolfe Graeber (/ˈɡreɪbər/; born 12 February 1961) is an American anthropologist, author, anarchist and activist who is currently Professor of Anthropology at the London School of Economics.[1] Specialising in theories of value and social theory, he was an assistant professor and associate professor of anthropology at Yale University from 1998 to 2007, although Yale controversially declined to rehire him.[2] From Yale, he went on to become a Reader in Social Anthropology at Goldsmiths, University of London from Fall 2007 to Summer 2013.[3] Graeber has been involved in social and political activism, including the protests against the 3rd Summit of the Americas in Quebec City in 2001 and the World Economic Forum in New York City in 2002. He is also a leading figure in the Occupy Wall Street movement.
Comments
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overview of this vid: She's clearly in love with him....oh and he said some stuff
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David Graeber always fails because he never defines his terms! If he would simply state the definition of capitalism that he is using, and then use it consistently, he would actually be coherent.
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Graeber's comment about growth confuses the value with the amount of product. It's perfectly possible to continue growing the value of the total product while keeping the amount of product ecologically sustainable. But, this requires incorporating environmental costs into product costs, which is not possible under pure market economies, and only imperfectly with government regulation.
Also, his use of 'capitalism' is confusing. First he argues that what we have is not capitalism, then he uses the term in the present tense. -
Does anyone know where to find that letter to Bush from the oil CEO's? I'd love to see that.
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NO!!!
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Whats with the smirks?
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Nope.
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So many people in the comment section have differnt deffinitions of the terms they are using and the terminology they are using is too obtuse to explaining the detail of their actual ideas.
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“Markets” are really just men and women creating value and trading, and without those activities, we could not have food, clothing or houses to live in. When people complain about “capitalism” they are not really complaining about the market, but about the corruption that occurs when the state intervenes for its parasitic purposes. For instance, people who love their jobs work out of passion, not primarily to get rich; but corporations with limited liability were created by the state to enable politicians and aristocrats to maximize their return on capital while passing the risk on to other people. Intellectual property rights (patents and copyright) were a criminal racket to make money for monarchs – later governments used them to retain technology in large corporations and powerful countries, to increase wealth differentials. Tariffs and quotas for foreign goods attempt to protect industries and prevent the equalization produced by free market trade. The division of society into “employees” and “employers” was primarily created by the state during the Industrial Revolution because politicians saw large corporations as essential to the economic and military competition between states. If humans could escape from their slavery to the political classes, and create direct democracy, the abuses that are mistakenly attributed to “capitalism” would disappear.
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Great mind; wish 'they' would listen to him. We ALL could share in some of the good things earth has to offer, without trying to stand on the necks of our brothers and sisters to get what we want.
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Excuse me. Who is that cute girl on the left?
Capitalism to me is to make the most obscene money by whatever means it takes so we can consume more stuff regardless of how destructive it is, Surely people must creatively come up with better systems that will serve people and better people at all level . -
They were not asking the government to take more power. They were asking the government to change the law and their obligations as publicly traded companies.
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Capitalistic methods are absolutely necessary. Market mechanisms and the profit motive are essential in any successful economic system. The only question, is how are we going to regulate such capitalist system so as to provide the best wellfare and subjective happiness without jeopardizing innovation and progress. Its a question of Mathematical optimization and social choice theory ...
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Ya... I had to stop watching this bull. The last straw was when he compared the risk of an entrepreneur to someone applying for a job and rewards not being equal enough. I also love how he glanced over the whole incentive behind innovation or how he didn't entertain the idea that the energy company CEOs weren't simply trying to remove competitors behind more regulation and not solely being unnaturally benevolent leaders of business.
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Dat Freudian slip at 3:14 [:)~
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Something happened or someone deleted my comment.
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The success of capitalism was based on the application of the scientific method...not on capitalism itself....which as David rightly points out has progress and knowledge limiting factors built-in. The corporatization of research and knowledge means essentially the patenting and privatization and eventual shuting down of knowledge growth.
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