Capitalism vs Socialism

   Feb 22 , 2020


   michael white

Capitalism vs Socialism:
A SOHO Forum debate between Jean Epstein and Richard Wolff

See how Richard Wolff gets to answer Epstein's vague generalities and scare tactics;  Epstein even quotes Noam Chomsky who would probably gag on many of his one sided out of control capitalist arguments.    
Richard's response was a nice slow pace, clean and clear. Epstein routinely talks fast, misquotes Richard and uses past so called socialist mistakes to help support his gloom and doom version of socialism.  SOCIALISM IS CHANGING. LEARN HOW .
The moderator, to preface the audience participation, uses the word Nazzi? Interesting context. -  WTF.  What is the institution of NYU really saying?  How many capitalist benefactors do they need to keep happy and donate mucho $$$. The stats at the end, to me,  show student trance states.
The audience participation part is rich with Richard's clarity. Epstein is slightly supportive but more a debater instead of seeker of the truth. He keeps quoting Richard out of context or incorrectly.  Using Richard against himself instead of touting his (Epstein's)  own ideas. I could easily contradict many of his arguments.
Danny will remember me talking about ESOPs. Employee Stock Ownership Plan. Sears was one of the first ones. I was not uncommon for an employee to retire with $250,000 of stock in the 1960s.  Epstein does mention them but the rest of the convoluted mess he includes in his talk will make them weak and subject to failure.  
Trickle down economics is total BS. Reagan bought it and sold it to us bigtime. Social economics is not taught in our school system.
Fairness has, since the 70s, including the tax rates, been slowly eroded by politicians and special interests, a lot of which stemmed from union busting, "employer paid for" medical expenses inviting employees to eat heavily advertised often MD supported processed foods and to abdicate personal responsibility for their diets and lately from Government bailouts of crooked companies including stock brokers and banks that can "guide" you to the "best" investments.  Best for whom? 
Is it possible for YOUR retirement plan to go the way of ENRON? For sure. Should your retirement plan-to-be Gov guaranteed/insured? For damn sure.  Will the corporate financial folks try to manipulate that for their benefits?  Yep! 
Follow the money. Changing the institutional systems is needed but is a MONUMENTAL TASK requiring decades. The simple answer for now is to tax the rich. Use that money to change the system. The tax rate was 92% at the end of WW2. Corporate is now 21% with offshoring running rampant and no taxes.  A VAT can help. Most ot the popular press toadies to the various political factions. Trust it at your peril.
To bypass the medical industrial complex make Public option for health as a possible bridge to medicare for all. UBI is a great dream but only a dream. So far. The Saudis have had a citizen stipend for at least 60 years. Our oil money I suspect. According to my friend who worked at the National Bank of Saudi, they had 200 billionaires in the late 1970s. Do the math. Compound 200 billion over 60 years.   Watch this video about compounding
Bezos is NOT the richest man in the world.  A good bet it is a Saudi king/prince.
Education is free for US citizens only, so you and i can stop subsidizing corps and foreign government education.
This is your world. Shape it or someone else will. Think. Question. Do the math. Get out and VOTE.
One of my favorite writers  Umair Haque on 
Social Democracy vs Capitalism 

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