HOW TO FAIL IN 1 EASY LESSON
TABACCO: The “OCCUPY MOVEMENTS” are futile, unsuccessful attempts by Real Grass Roots to achieve Economic Change. It could not succeed because at its heart it requires the Individual Rich, the Corporatists, the MSM and the Politicos to feel so embarrassed that they would capitulate and DO THE RIGHT THING! You can never embarrass those guys enough to achieve your own Goals of FAIRNESS! Nor will they respond favorably to entreaty and pleading!
Power Concedes Nothing Without A Demand
(1) America In Crisis:
Select Excerpts, Transcribed & Edited by Tabacco from Documentary, ‘Richard Wolff: Democracy at Work – The Cure for Capitalism’.
Filmed September 6th, 2012, in front of a live audience.
Richard Wolff is Prof. of Economics Emeritus, U. Mass. Amherst
RICHARD WOLFF: So let me begin by promising you two things:
1 – To provide to you a different way of understanding what’s happening to the Economic System and our position in it than perhaps you have heard before, and
2 – even more important than what this book is about, an ALTERNATIVE SOLUTION for dealing with it, different from what you might have heard before…
I’m not going to tell you what you already know, which is that this is the worst Economic Crisis in my lifetime, and therefore in yours, that it began in 2007, which means it is now coming to the end of its 5th year, and that there is no end in sight. That the efforts of governments around the world, including the United States, to end it long ago have not proven successful! That the Prognosis is NOT good! That the problem is almost like a Disease, in the sense that it begins in the United States in 2007, the Europeans look at the United States and thank their lucky stars that it isn’t so bad, only to discover that it is metastasized over there! …
The Chinese are discovering that it is spreading to them. The Russians and the Indians have already discovered it. And the United States is now beginning to recognize that our own chances of coming out of it are being undercut by the realities in Russia, China and so on. It keeps going because they haven’t found a Solution!
Most of the effort to explain it involves GAMES of BLAME! The Republicans blame the Democrats, and vice versa in an endless chorus that begins to sound the same after the 14th speech by whoever is looking for a promotion in whichever Party!
And then the Blame goes beyond that! People on the Left like to blame Bankers; People on the Right like to blame Poor People, who take out Loans.
I want to break from all of that. I want us to acknowledge that in this Economic System that we have, which has a name – it’s called CAPITALISM – there are a set of rules. And that most people, because they really can’t avoid it, play by those rules!
Bankers make Loans in order to make money.
Corporations do what they do in order to make money because that’s what the people, who make decisions in corporations, are hired to do.
And working people try to have a job that’s decent, and try to earn an income, and if they can’t do what they think they ought to do as good citizens, as good parents with the jobs and incomes they have, well then they borrow money. And that works out real well because the Banks are real eager to lend it to them. And we have everybody performing pretty much the way they’re supposed to.
If everybody is playing by the Rules, everybody hopes that will all work out – but it doesn’t!
In my profession of Economics, we have a great Philosopher, with which all Economics courses begin. His name is Adam Smith. And he’s famous for the following line:
Most of you know that that’s silly! It’s a wonderful “Rationale” to go out there and do what you want for yourself and not care about anybody else, but where that leads is exactly where we are – In a very, very bad Crisis!
So let’s begin by analyzing this Crisis as the Crisis of the System! And we’ll go on and talk about the System, even when it’s not in Crisis because that’s as big a Crisis as the Crisis itself…
What does that mean? First and foremost, it means that we have in the United States today something on the order of 20-25 Million People, who either don’t have a job at all, have been without a job long enough that they’ve given up looking (so-called “discouraged workers”), or folks, who have to take a part-time job because that’s all they can find, but they would like to have a full-time job. That’s staggering! …
Alongside of these people, there’s another Statistic. This one comes from the Federal Reserve. It’s a Statistic called ‘The Capacity Utilization Rate’. It measures what proportion of the Tools, Equipment, Machines, Office Space is being used for Production and what part is sitting idle. And the Federal Reserve has pointed out for some years it’s roughly hovering around 20% is NOT being utilized…
If there are 20-25 Million People, who want to work and don’t have a chance, and we have 20% of the Tools, Equipment, Raw Materials for those People to work with, and a System that cannot put these 2 together to produce a quantity of Wealth that would solve most of our Social Problems quickly, is a System that doesn’t work very well…
The amount of Human Damage, the amount of Waste of Resources is beyond calculation. A System that does this, let alone a System that does it repeatedly, cannot talk about efficiency because, whatever the efficiency is of a particular factory or production process, is completely overwhelmed by the inefficiency of massive numbers of unemployed people, unutilized resources and lost Output that could meet Social Needs…
Between the Great Depression (1929-1941) and the Current Crisis (2007-present), the National Bureau of Economic Research counts 11 more DOWNTURNS in which Millions of Americans lost their jobs in the intervening years (1942-2006).
Every President in the United States, since Franklin Roosevelt, has during his tenure as President had at least 1 Economic Downturn. And every President said at one point, “Here are the policies I am proposing. And they have 2 great qualities:
The System is Crisis-prone, and that is a very serious defect!
TABACCO: I began transcribing this Documentary on March 25, 2013. Today is March 31, 2013. The Documentary is 3-Hours long, but I have only reached the 0:30 minute Mark. At this rate, I might publish something in June.
Almost every word Wolff utters is undeletable. This morning I finally came to the conclusion that this required a SERIES in the written format. This is Part I.
Look for Part II, “CIO, Socialists & Communists” + Part III, (as yet unnamed) in very near future! Quite possibly, this American Capitalism Series will have 5-7 Parts.
Without a doubt, this Series is the most important and universal subject I have tackled since I began blogging in 2005. I have published 1632 Posts so far (most of which are from 2005-2011 at Blog-City and unpublished here to date).
Tabacco: I consider myself both a funnel and a filter. I funnel information, not readily available on the Mass Media, which is ignored and/or suppressed. I filter out the irrelevancies and trivialities to save both the time and effort of my Readers and bring consternation to the enemies of Truth & Fairness! When you read Tabacco, if you don’t learn something NEW, I’ve wasted your time.
Tabacco is not a blogger, who thinks; I am a Thinker, who blogs. Speaking Truth to Power!
In 1981′s ‘Body Heat’, Kathleen Turner said, “Knowledge is power”.
T.A.B.A.C.C.O. (Truth About Business And Congressional Crimes Organization) – Think Tank For Other 95% Of World: WTP = We The People