posted on Apr, 15 2009 @ 12:16 PM
He's actually right on pretty much all counts. It was basically 35 minutes worth of facts about how our the average American saw their
inflation-adjusted wages flat-line while production continued to increase, and then we compensated by using ridiculous amounts of credit. He points
out that this is likely an unavoidable outcome of capitalism. Then in the last few minutes he puts forth an alternative that wouldn't require
government intervention (and is, in fact, the way that some CompSci companies have willingly gone).
Of course, he fails to mention that, in the 1950s, our military started classifying technological breakthroughs (notice that most of the past 50 years
has been little more than the culmination of semiconductor research that was done in the 1940s) and that without invention/innovation, capitalism
fails. He also could have touched on the fact that major corpoations have a vested interest in preventing new Entrepreneurs from being innovative
(although some made it in the computer revolution), and from preventing innovation from leaking out (the status quo has lower upstart costs).
There's also the fact that many people in the financial sector were committing outright fraud, and capitalism can't function if fraud is tolerated.
Then there's our deteriorating education system -- one of the worst in the world -- which has led us into a situation where people can't find jobs
because they're dumber than immigrants who got their education in Asia ("they took our jobs" rhetoric aside, they're simply better at what
The current economic collapse is really a multi-headed monster, and any theorist of any ideology will probably be at least partially about the some of
[edit on 15-4-2009 by theWCH]