Has capitalism failed the world? – Head to Head




Subscribe to our channel http://bit.ly/AJSubscribe At the famous Oxford Union, Mehdi Hasan challenges former top financial regulator Lord Adair Turner on the role of the banks, the politics…

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Comments 37

  1. yes, the economics profession is the problem. it is a false science because it derives values from fluctuations and not the item itself, nor the time for production itself nor the true worth of natural resources (specially alive ones). so long as economics continues to use a narrow focus to discern value it will continue to be a religion and not a science. the fact that the fiat currency model we are using provides no real value to currency means the fluctuations can always be manipulated, which is further proof that this is not a system of fairness nor accounting, is a belief system. Our economic model is a religion masked as a science, is more about laws and less about natural order.

  2. America full of bullshit , can't even run there country with the debt can't pay back and try to use wars to destroy and control for power all over the world, don't believe whatever American say , don't trusted the American , they all bullshit.

  3. You can change the human nature by education. Yes we are greedy and altruistic at the same time, but with education we can shift the balance in the favor of altruistic and ethical values. We can see nowadays how different countries are more altruistic because the enforcement of that value from their parents and/or schools.

  4. I cannot believe that nobody called Lord Adair Turner on naming the poorest people in US, "the bottom quarter, the losers". Hasan would have normally reacted right away. Even though Turner specifically says that he is not egalitarian nor socialist.

  5. The State capitalism as practiced by China is better then Capitalism as practiced in the West. Because in the western system profit goes to the banker and loss to the public. In Chinese system both profit and loss goes to the public. We can learn from Chinese here

  6. Wow! An ex-banker and ex-regulator promoting an end to austerity and the use of high levels of public investment/deficits to stimulate growth! Wow!

    Never thought I'd hear common snse and sound MMT macroeconomics from a banker!

  7. Nobody spoke about capitalism as a system. The topic looks deceiving. They only spoke on the crisis. Apart from the question raised by one gentleman on Full reserve banking none of them challenged the system……..Questions should have been more about corporations and banks are allowed to dictate the system, discrepancy in incomes between people. Why follow a system that is unstable, fractured and unregulated…..

  8. Capitalism has led to our current environmental degradation. At the current rate we are going, we will cease to exist as a species. There's no more proof needed for its complete and utter failure.

  9. Hah! "Public investment" means the taxpayer gets to pay for it… and then the corporations will capitalize on this 'public investment' when they privatize it a few months later… (You know what, I think I'm really getting the hang of this 21st century 'Newspeak' thing!)

  10. If ANY state wants to be prosperous the FIRST thing it needs to do is to print its own resource-based money… and NOT create money out of thin-air as an interest-bearing debt by a privately-owned corporation! (As is currently the case).

  11. Lord Adair Turner touches on it, but doesn't actually say that the real problem is the manner in which the banks create money out of thin air in the process known as 'fractional reserve lending'… Haven't heard of it? Google it! It is the 'heart of the Beast'!

  12. “The smart way to keep people passive and obedient is to strictly limit
    the spectrum of acceptable opinion, but allow very lively debate within
    that spectrum….” – Noam Chomsky… this is exactly what's going on all over the world… we're being dictated the "wrong" debate… competition only leads to one result: a growing inequality… you can't control it, because the powerful eventually become so powerful that they control it… this is where we are now… we need to bring back democracy and the industries of finance, energy, medicine, food and security should be public, not private… then we need to look at the whole range of our dysfunctional thinking and put responsibility at the forefront of who we truly are…

  13. Mr. Turner's last statement included change the rule to the game…I don't think people comprehend his decision to use such a word to describe this system as a game…we don't have to play this game but ignorantly we play because we have become satisfied with illusions created by those having present power…serious dilemma we are in these days…

  14. we all know who owns the big banks, and they are put their for only one purpose and that is to cream out of the poor and disadvantage. and this will never change, because money is power and power can rule anybody anywhere by any means neccessary. so humanity will always come out loosers. whist the greedy bankers get richer out of the publics interest.

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