This 15 June 2019 video from the USA says about itself:
This 30 December 2011 video from the USA says about itself:
A recent poll results were released which asked Americans what their opinion of socialism is. Find out whether or not young people prefer socialism or capitalism? Ben Mankiewicz, Cenk Uygur and Michael Shure discuss the results.
So, that was over seven years ago. And now …
By Trévon Austin in the USA:
New poll shows American youth are increasingly supportive of socialism
13 March 2019
A Harris poll exclusively reported by Axios has found that a larger majority of youth—Millennials and Generation Z—are embracing “socialism” and policies associated with it. The increasingly positive view of socialism is a continuation of a trend recorded in the last few years.
According to the poll, which was conducted in February 2019, 61 percent of Americans between the ages of 18 and 24 (born after 1995) view socialism in a positive light. Furthermore, 73.1 percent of Millennials, those born between 1980 and 1994, and Generation Z, those born after 1995, believe the government should provide universal health care, and 67.1 percent think college should be tuition-free.
The top three voting issues for Gen Z, according to the Harris poll, are mass shootings, racial equality, and immigration policy and treatment of immigrants. Millennials’ top issues are access to health care, global warming/climate change and mass shootings.
A similar 2018 Gallup poll found that 51 percent of Americans between 18 and 29 viewed socialism positively, while less than half of the same age group found capitalism agreeable. The Gallup poll’s inclusion of ages 25 to 29 makes an exact comparison difficult, but the results from the new Harris poll suggests an increased interest in socialism compared to last year, an ongoing trend since the aftermath of the Great Recession.
The source of the interest in socialism is not hard to find. American youth are part of a generation that has experienced nothing but economic crises, social degradation, unending violence, and the deteriorating living conditions of the working class.
Many are without access to decent paying jobs and are forced to live with their parents. The average student graduating from college with debt has a total debt of nearly $30,000, with no guarantee of employment. Furthermore, research shows that Millennials are the first generation set to be worse off than their parents.
Youth have grown up in the shadow of the “war on terror” and have been subject to police brutality and gun violence at home and in schools. The US military’s murderous campaign in the Middle East is immensely unpopular among youth. For the fifth year in a row, police have killed over 1,000 people, and last year’s March for Our Lives was a response to the stream of school shootings that claimed the lives of hundreds of children.
The widespread support for socialism terrifies the ruling class, which fears above all that the growth of working class struggle over the past year will acquire a socialist orientation and perspective. The US has seen an escalating wave of strikes and workers’ militancy. From 2009 to 2018, strike activity jumped from 124,000 work days lost, to 2.8 million, an increase of over 2,000 percent.
Last month, US President Donald Trump unleashed a tirade against socialism and declared a global crusade against it. He declared the United States would “never be a socialist country” in the State of the Union speech. Trump’s speeches are a direct appeal to ultra-right forces in the US and spout the poison of nationalism and xenophobia.
For their part, the Democrats have had two distinct but parallel responses. A dominant faction of the party establishment has hastened to repudiate any association with socialism. Democratic presidential candidate Kamala Harris recently told reporters she was not a “democratic socialist” but a “progressive Democrat”. In 2017, when responding to an NYU student asking about the future of the party, Speaker of the House Nancy Pelosi declared, “We’re capitalists.”
On the other hand, there are figures such as Bernie Sanders and Alexandria Ocasio-Cortez … . Significantly, Millennials and Generation Z will make up 37 percent of voters in the upcoming 2020 elections. Large sections of young people are responding favorably to Sanders’ second presidential election [campaign].
Why Are Jewish Millennials Flocking To Socialism? Passover Has The Answer: here.
This September 2017 video from the USA is called New Tax-Funded Cancer Drug Costs $475k Thanks To Big Pharma.
Translated from Dutch NOS TV:
Abbott, Johnson & Johnson, Merck and Pfizer: these largest pharmaceutical companies in the world report significant profits in countries with favorable tax policies, including the Netherlands. This is evident from new research by Oxfam Novib. …
Due to profit shifting, many countries miss out on tax revenues, which are often needed to improve access to health care. On the basis of available figures, Oxfam estimates that the four major pill corporations are dodging an estimated 3.8 billion dollars in taxes in countries such as Australia, Denmark, France, Germany, the USA, Thailand, India and Ecuador. …
Esmé Berkhout, Oxfam Novib’s tax expert, is clear: “Drug corporations seem to be deceiving governments by tax-dodging, they have to pay honest taxes, make their medicines affordable and stop manipulating and influencing governments for their own gain.”
Ella Weggen of Wemos – an independent social organization that focuses on the improvement of health worldwide – agrees with the words of Berkhout: “Tax dodging does not improve the reputation of pharma companies and denies governments money they desperately need for investing in health care”.
US multinationals dodge $180 billion in taxes on foreign profits per year: here.
This video from the USA is called Poverty in America: Documentary 2017.
Translated from Dutch NOS TV:
Worlds’ richest 1 trillion richer
The 500 richest people on earth this year have gained 1 trillion extra dollars, according to a calculation by Bloomberg news agency. The growth, which is four times the size of last year, was mainly due to rising share prices.
The boss of Amazon, Jeff Bezos, saw his wealth increase most: with 34.2 billion dollars to almost 100 billion in total. Bezos took over in October as the richest man in the world from Microsoft founder Bill Gates.
Gates, now the number two, … received around 9 billion dollars. His assets are estimated at more than 91 billion dollars.
The 500 richest people have $ 5.3 trillion according to Bloomberg. A year ago that was 4.4 trillion dollars.
See also here.
Online retail giant Amazon commenced operations early December in Australia, opening a fulfilment centre in outer Melbourne. The move forms part of Amazon’s continuing global expansion, based on the accumulation of profit through the brutal exploitation of low-wage warehouse workers. The company’s CEO, Jeff Bezos, is now the world’s wealthiest individual, with a personal fortune estimated at more than $US100 billion: here.
By Niles Niemuth in the USA:
World’s richest one percent capture twice as much income growth as the bottom half
15 December 2017
The inaugural World Inequality Report published on Thursday by economists Thomas Piketty, Emmanuel Saez, Gabriel Zucman, Facundo Alvaredo and Lucas Chancel documents the rise in global income and wealth inequality since 1980.
The report found that between 1980 and 2016 the world’s richest one percent captured twice the income growth as the bottom half of the world’s population, contributing to a significant rise in global inequality.
The data shows that world’s top 0.1 percent alone captured as much growth as the bottom half, and the top 0.001 percent, just 76,000 people worldwide, received 4 percent of global income growth. Meanwhile those in 50th to 99th percentiles worldwide, which the report refers to as the “squeezed bottom 90 percent in the US and Western Europe”, encompassing the working class in the world’s advanced economies, experienced anemic growth rates.
The report is based on tax data and other financial information collected for the World Wealth and Income Database by more than 100 researchers in 70 countries. It shows that income inequality has either risen or remained stable in every country.
Additionally, the report found that concentration of wealth in the hands of the top one percent has risen sharply, particularly in the US, Russia and China. In the US, the wealth share monopolized by the top one percent rose from 22 percent in 1980 to 39 percent; in China it doubled from 15 percent to 30 percent; and in Russia it went from 22 percent to 43 percent.
In terms of income, the top ten percent captured 37 percent of national income in Europe, 41 percent in China, 47 percent in the United States-Canada, 54 percent in Sub-Saharan Africa, 55 percent in Brazil and India, and 61 percent in the Middle East.
Notably Russia, when it was still part of the Soviet Union, had the lowest level of inequality in 1980, with the top ten percent accounting for 20 percent of income. There was a sharp spike in inequality following the dissolution of the Soviet Union in 1990-91, with half of all national income going to the top ten percent in less than five years. Russia has now reached parity with the United States, returning to levels of inequality which prevailed a century ago under the rule of the tsar.
The report also shows that there has been a significant divergence in inequality levels between the United States and Europe since 1980, when the top one percent claimed 10 percent of income in both regions. As of 2016, the top one percent in Europe claimed 12 percent of income, while in the United States its share had doubled to 20 percent.
The top one percent and the bottom half of the American population have essentially flipped positions. While the bottom 50 percent received 20 percent of national income in 1980, that figure declined steadily to just 13 percent by 2016. Conversely, the one percent steadily increased their claim on national income, from 10 percent to 20 percent in less than two generations.
Average annual income for the bottom half of the US population, adjusted for inflation, has remained at $16,500 for the last forty years, while the top one percent has seen its average income triple from $430,000 to $1.3 million.
The report’s authors note in an op-ed published in the Guardian that the United States is an outlier among the advanced economies, with a surge in income and wealth inequality over the last four decades which has developed into a “second Gilded Age.”
The authors attribute the dramatic difference between the US and Europe to a “perfect storm of radical policy changes” in the US. They argue that the growth of inequality in the US has been exacerbated by a number of factors, including a tax system that has become less progressive over time, a federal minimum wage that has not kept up with inflation, shrinking unions, deregulation of the finance industry and increasingly unequal access to higher education. They warn that the Republican tax cuts will “turbocharge” the further rise of inequality.
Despite its explosive content, the latest report on inequality was buried by the media, relegated to a small headline in the Business Day section of the New York Times and posted well down the Guardian’s front page in the world news section. The vast and ever-growing levels of social inequality around the world is not what the ruling classes in the US, Europe and elsewhere want to talk about.
Social inequality in the United States is being ignored and covered up by the political system. The Democrats are entirely focused on issues of sex and the anti-Russia campaign, even as the Republicans are pushing to finalize tax cuts for corporations and the wealthy by the end of the year.
However, under the surface of official life, class conflict is growing. The World Inequality Report reveals that the contradictions of the capitalist system find expression in every country.
In concluding their report, the authors refer to policy decisions that could be adopted to reverse the growth of social inequality, promoting the illusion that a fair distribution of resources can be achieved under capitalism through various liberal reform measures and appeals to capitalist governments to enact progressive tax measures.
There is, however, no “reform” faction in the ruling class. The growth of inequality in the US has been carried out under both Democrats and Republicans … . In Europe, the ruling elite is moving rapidly to “catch up” to the United States through the implementation of labor “reform” measures, the destruction of social programs and the redistribution of wealth to the rich.
The response of the ruling class to growing social opposition is not reform, but repression. A movement against inequality requires the building of a socialist movement of the international working class, on the basis of a socialist program to appropriate the wealth of the corporate and financial oligarchy, transform the banks and giant corporations into democratically-controlled public utilities, and reorganize economic life on the basis of social need.
The UN special rapporteur on extreme poverty, Philip Alston, toured Southern California last week as part of a two-week tour to investigate the economic condition of the poorest and most vulnerable people in the US. Alston is to share preliminary remarks at the conclusion of his tour on the December 15, and is to release a final report next spring: here.
US becoming ‘world champion of extreme inequality’ under Donald Trump, says UN poverty envoy. ‘The American dream is rapidly becoming the American illusion’: here.
Last week, as Congress rushed to pass a tax bill that will transfer trillions of dollars to the financial oligarchy, two separate teams of experts published damning reports documenting the growth of social inequality in the United States: here.
Social inequality in Australia, which is already higher than in many other developed countries, worsened markedly in 2016–17, according to data presented by the charity Oxfam last week. In particular, the statistics compiled by Oxfam in its latest Australian factsheet, titled “Growing gulf between work and wealth”, show an accelerating concentration of wealth in the hands of billionaires at the expense of workers: here.
This video from the USA says about itself:
28 June 2017
Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University in New York City. He wrote Democracy at Work: A Cure for Capitalism and founded www.democracyatwork.info, a non-profit advocacy organization of the same name that promotes democratic workplaces as a key path to a stronger, democratic economic system.
Professor Wolff discusses the economic dimensions of our lives, our jobs, our incomes, our debts, those of our children, and those looming down the road in his unique mixture of deep insight and dry humor. He presents current events and draws connections to the past to highlight the machinations of our global economy. He helps us to understand political and corporate policy, organization of labor, the distribution of goods and services, and challenges us to question some of the deepest foundations of our society. For more of his lectures, visit the Democracy at Work YouTube channel here.
From daily News Line in Britain:
Thursday, 26 October 2017
Lord Turner gives up on capitalism – forward to the socialist revolution
CAPITALISM is not delivering on its promise to raise living standards, Lord Adair Turner, a former head of the business lobby the CBI, has said, recognising the obvious, while he tries to smuggle in the notion that capitalism was ever interested in anything else than making superprofits.
Turner said in a BBC interview, ‘Everybody knows that capitalism is not egalitarian, but the broad promise has been that, over a ten-year period, you can be pretty confident that a rising tide raises all boats and everybody feels somewhat better off, and that’s gone wrong.’ He said of the ‘toxic mix’ of stagnant productivity, falling real wages and rising inequality: ‘The combination of that is a lot of people do not feel the system is delivering for them.’
Turner said sluggish economic growth is only in part a hangover from the financial crisis, observing that ‘The UK economy has grown a bit in the last five years and we have created lots of jobs, but they have been low productivity jobs.’
He noted that manufacturing, retail and logistics have managed to improve productivity through automation, replacing human workers with robots. ‘The workers displaced by technological change have ended up in low paid jobs – Deliveroo cyclists working in the gig economy.’
He saw a future where ‘We should expect to see huge automation and the continued proliferation of low paid, low tech jobs.’ In November last year, he told Business Insider he was ‘increasingly worried’ that advances in technology were undermining capitalism.
Turner made his remarks in a situation where, ten years after the 2007 banking crash, the Office of National Statistics has revealed that the UK is £490 billion poorer than it was thought to be and that a surplus of £469 billion has turned into a net deficit of £22 billion.
This is at the same time as the debt pile of the G20 richest capitalist states has reached $135 trillion, and where the capitalist class as a whole is terrified that a raising of interest rates will bring down the debt mountain, in a situation where, after 10 years of austerity and slashed living standards, the working class will make a revolution rather than allow itself to be pauperised again to try and keep a bankrupt system going.
The last ten years in the UK have rammed home the truth of Marx’s proposition that the capitalist system, which makes its profits out of the exploitation of the labour power of the working class, is not only prone to cyclical slump-boom crises, but has a historical crisis, and would in its development ruthlessly pauperise the working class and create not just the conditions but the iron necessity for a socialist revolution.
What secured relative class peace in the UK in the 20th century was the super-exploitation of its empire. Once the empire was lost the ruling class had no option but to turn on its working class.
It was Thatcher who decided that Britain’s basic industries, iron, coal and steel should be smashed so that the banks could exploit on a worldwide scale, making superprofits. All the masses in the UK could hope for was that some of the bankers’ loot might trickle down to them, in the service industries.
Blair and Brown carried on this policy and encouraged capital to move out of the UK to superexploit the workers of India and China, the new workshops of the world. Now, with the UK much reduced in stature, the masses are being driven via such schemes as Universal Credit back to the early 1900s as far as their living standards are concerned. This has made the working class very angry.
The development of automation and robotics is putting a bomb under the capitalist system, where the rich become even richer and the poor exist through servicing the requirements of the rich, Deliveroo-style. The productive forces are developed to the point where communism and a worldwide society where the axiom is ‘from each according to his ability to each according to his needs’ is not just a good idea but is the only way that human society can continue.
With the stock markets soaring and corporate America celebrating a massive tax cut, there are increasing warnings from some business circles that the immense level of inequality is generating deep social discontent. In an interview published in the Wall Street Journal last week, Ray Dalio, who manages the world’s largest hedge fund, Bridgewater Associates, warned that “elevated stock valuations” had not translated into higher long-term economic growth, let alone improvements for the bottom 60 percent of the population. This layer of the population, he said, lacked any savings, suffered a higher percentage of premature deaths, and had children destined to earn less than their parents: here.