in how zucker burke treats client privacy they have to see takes very seriously recent press reports raises substantial concerns to both the privacy brooke this is so facebook it's been a year since the biggest privacy scandal in social media but at least facebook's gotten around to censoring alternative media donald quarter r.t. ok that's the way it looks from moscow this hour next on our team to sterling for years of intellectual insight to get a handle on global inequality as renowned academic tells it like it is.

you need a myth that here is here if not. most of us are taught and believe we live in a society based on merit and equal justice the varsity blues college admissions scandal conformists that both are true the rich and privileged can buy access for their kids at the expense of families who are hard working and don't is the idea of married yet.

during the great depression which i'm old enough to remember there was and most of my family were unemployed working class there wasn't it was bed you know much worse objectively than today but there was an expectation that things were going to get better. there was a real sense of hopefulness there isn't today. inequality

is really unprecedented i'm sure that total inequality it's like the worst periods in american history. but if you're a find it more closely inequality comes from the extreme wealth in a tiny sector of the population fraction of one percent. there were periods like the gilded age in the twenty's and the early ninety's and so on when a situation developed by the similar to this. now this period six trillion because if you look at their wealth distribution inequality mostly comes from super wealth . literally the cup one tenth of a percent are just super wealthy. not only is it extremely unjust in itself. inequality as highly negative consequences on the side is. because the very

fact of inequality has a corrosive harmful effect markers that. you opened by talking about the american dream or the american dream is classman deluded it will infer that you were kurds. ridge it was possible for a worker to get a decent job. at a core of children who are school. collapse. imagine yourself in an outside position looking for mars. what do you see.

in the united states when there are professed to like democracy. in a democracy public opinion is going to have some influence on poesy. and then the government carries out actions determined by the population and that's what democracy means. it's important to understand that privileged and powerful sectors have never liked democracy and for very good reasons. to not proceed puts power into the hands of the general

population and takes it away from them. as kind of the principle of concentration of wealth and power. concentration of wealth yields concentration of power particularly so as the cost of elections skyrockets it which kind of forces the political parties into the pockets of major corporations. and this political power. translates into legislation that increases the concentration of wealth so fiscal policy like tax policy a deregulation. rules of corporate governance

a whole variety of measures political measures designed to increase the concentration of wealth and power which in turn the yield more political power to do the same thing. and that's what we've been seeing. so we have this kind of vicious cycle in progress. you know actually it is so traditional that it was described by adam smith in seven hundred seventy six he read the famous wealth of nations. he says in england the principal architects of policy are the people on the society in his day merchants and manufacturers. and they make sure that their own interests are very well cared for however greed is the impact on the people of england there

are others. now it's not a merger of manufacturers it's financial institutions and multinational corporations the people who adam smith called the masters of mankind and they're following the vile maxim over our selves and nothing for anyone else. they're just going to pursue policies that benefit them and harm everyone else. and in the absence of a general popular reaction that's pretty much what you'd expect. be right through american history there's been an ongoing clash between. pressure for more freedom and democracy coming from below and the efforts that elite control and domination coming from above.

because back to the founding of the country. james madison the main framer who was as much of a believer in democracy is anybody in the world that they nevertheless felt that the united states' system should be designed and indeed was his initiative was designed so that power should be in the hands of the wealthy. because the wealthier there are more responsible set of men and therefore the structure of the formal constitutional system placed most power in the hands of the senate or the senate was not elected in those days it was selected from the wealthy men as madison put it had sympathy for property owners in their right. to read the debates at the constitutional convention. madison says the major concern of the

society has to be to protect the minority of the opulent against the majority. and here argument suppose everyone had to vote freely and say well the majority of the poor get together and they were going to take away the property of the rich and he said that would obviously be unjust so you can't have that so therefore the constitutional system has to be set up to prevent democracy. which is of some interest that this debate has a horrid tradition goes back to the first major book on political systems aristotle's politics. he says of all of them the best is democracy and at any point said exactly the flaws that medicine put out.

if athens were a democracy for free men the poor would get together and take away the property the rich. well the same dilemma they had opposite solutions aristotle proposed what we would nowadays call a welfare state and try to reduce inequality. so the same problem as it solutions one is reduce inequality will have this problem and the other is reduced muckers. if you look at the history of the united states it's a constant struggle between these two tendencies democratising tendency that's mostly coming from the population pressure from below and you get these constant battle going on periods or gratian periods of progress in one thousand nine hundred six for example were a period of significant democratization. sectors

of the folk elation that were usually passive and the city became organized active story pressing their demand. and they became more and more involved in decision making and activism and so on. it just changed consciousness and always. minority rights. freedom why are. women's rights.

in terms of the. american has. survived opposition to aggression. to size us. serious about law. of the vietnamese people. people concerned for other people. people in america. system distribution of wealth. and that caused great fear.

to. the power of a should have but it didn't anticipate the power of the reaction to the civilizing effects of the sixty's did not anticipate the strength of the reaction to it. the backlash. breaks it count. i do think the numbers mean something they've matter to us is over one trillion dollars in debt more than ten white collar crime families each day. eighty five percent of

global wealth he longs to be culled from rich eight point six percent world market most thirty percent some with four hundred five hundred three first second first second and fifth when he rose to twenty thousand dollars. china's building two point one billion dollars a i industrial park but don't let the numbers over. the only number you need to remember in one one business show you know bored to miss one and only boom books. join me every thursday on the alex salmond show and i'll be speaking to guest on the world of politics small business i'm showbusiness i'll see that. after the previous stage of my career was over everyone wondered what i was going

to do next the ball different clubs on one hand it is logical to sit in the home fields where everything is familiar on the other i wanted a new challenge and the fresh perspective i'm used to suppressing and i saw why not if you think. i'm going to talk about football not the or else in the sink i was going to go. by the way ways of that slide here. there has been an anonymous concentrated coordinated business offensive. beginning in the seventy's to try to beat back the gallant tarion efforts that went right through the nixon years and you see it in many respects and over on the right you

see it in things like the famous pell memorandum. sent to the chamber of commerce major business lobby but later supreme court justice powell warning that business is losing control over the society. and something has to be done to counter these forces course we put it in terms of defense defending ourselves against outside powers. but if you look at it it's a call for business to use its control over resources to carry out a major offensive to beat back this democratizing wave. over on the liberal side something exactly similar the first. major report

of the a trilateral commission is concerned with this. called the crisis of democracy. trilateral commission is liberal internationalists in their flavors indicated by the fact that they pretty much staff the corridor ministration. and they were also told that democratizing tendencies of the sixty's and so we have to react to it. they were concerned that there was an excess of democracy developing. previously passive and obedient parts of the population or sometimes called the special interests who were beginning to organize and try to enter the political arena and they said that imposes too much pressure. in the state can't deal with all these pressures so therefore they have to return to passivity become the politicised. and they were

particularly concerned with what was happening to young people young people get into free and independent. in the way they put it there's a failure on the part of the schools the universities churches the institutions responsible for the indoctrination of the young there for it is not mine. if you look at their study there's one interest they never mention private business and that makes sense they're not special interest they're the national interest kind of by definition so they're ok they're allowed to you know have flabby as by campaign staff the executive make decisions that's fine but it's the rest the special interests the general population who have to be subdued.

when that's the specter it's the kind of ideological level of the backlash but the major backlash which was unparalleled this was just redesigning the economy. since the one nine hundred seventy is there's been a concerted effort on the part of the masters of mankind the owners of the society to shift the economy in two crucial respects one to increase the role of financial institutions banks investment firms and so on insurance companies. but a two thousand and seven break before the latest crash they had literally forty percent of corporate profits. far beyond anything in the past.

back in the one nine hundred fifty s. and as for many years before the united states economy was based largely on production. in the united states as the great manufacturing center of the world. financial institutions used to be a relatively small part of the economy and their task was to distribute unused assets like a bank savings to productive activity buying our way to. money. on the back of the reserve bank. to be high to providing an. outing money. to the community by making. money for

a manufacturer to meet a better ongoing high. are going to money on a why people are always needing more and i haven't been. that's a contribution to the economy. regulatory system was a step blish banks were regulated the commercial investment banks were separated cut back or risk investment practices that could harm private people. there had been remember no financial crashes during the period of regulation by the one nine hundred seventy s. that changed. you started getting that huge increase in the flows of speculative capital just astronomically increased an enormous changes in the financial sector from traditional banks to risky investments. complex financial instruments money

manipulations and so on increasingly the business of the country isn't production at least not here. the primary business here is business. you can even see it in the choice of directors so a director of a major american corporation back in the fifty's and sixty's was very likely to be an engineer as somebody who graduated from a place like mit maybe industrial management more recently the directorship in the top managerial positions or people who came out of business schools learned financial trickery of various kinds and so on. by the one nine hundred seventy s. say general electric can make more profit playing games with money than you could buy producing in the united states. you have to remember that general electric is substantially

a financial institution today it makes half its profits just by moving money around in complicated ways and it's very unclear that they're doing anything that's of value to the economy. so that's one phenomena let's go financial ization of the economy. going along with that is the oil sure into production. the trade system was reconstructed with a very explicit design of putting working people in competition with one another all over the world. and what it's led to is a reduction in the share of income on the part of working people.

spend stickily striking in the united states but happening worldwide it means that an american workers in competition with super exploited worker in china. meanwhile highly paid professionals are protected they're not placed in competition with the rest of the world far from it and of course a capitalist free to move a workers are free to move labor can't move but capital can well again going back to the classics like adam smith as he pointed out free circulation of labor is the foundation of any free trade system but workers are pretty much stuck the wealthy in the privileged are protected so you get obvious consequences and they're recognized in fact praised. policies designed to increase in security. alan greenspan and when he testified to conquers he

explained his success in running the economy as based on what he called greater worker insecurity. a typical restraint. compensation increases has been delivered for a few years around learn to some detailed interest from only last month i believe her job insecurity has played the domino room workers and secured are going to be under control. they're not going to ask for say decent wages were a decent working condition or the opportunity to free association meaning unions. no for the masters of mankind trying to make sure their profits but for the population it's devastating. to these two processes financial ization sure are part of what led to the vicious cycle of concentration of wealth

concentration of power. you know if i can say that i own for example all the brooklyn bridge and i and i sell a bond against the brooklyn bridge and i sell a billion dollar multibillion dollar bond against the brooklyn bridge while they actually somebody's going to come and say ok well deliver them the brooklyn bridge and i say why can't i have a deed just like in the two thousand a sub prime crisis there were no deeds for the houses that goldman sachs package says collateralized market's obligations and then sold into they pension market and the wholesale derivatives market so they didn't have the d.n.a. they were just making stuff up pulling rabbits out of their hat selling that as a yielding security to pension funds but there's nothing fair. most of us are taught and believe we live in a society based on merit and equal justice the varsity blues college admissions scandal conformist that both aren't true the rich and privileged can buy access to

their kids at the expense of families who are hard working and on is the idea of marriage dead. you all i think oh oh oh oh oh oh dear oh. we've been a real good shot to begin murders controls all life. becomes the middle class community young people deciding if they want to pull not like their parents not like the liberals. always struggle. you always have problems but you're not going to focus a lot is the most ubiquitous going out there most police departments use it almost over stores in the school tell to poker get their hands on them twenty four hours. we would teach nice kids. racism about police brutality taking pride in who they

are these kids are a part of history. is an officer. told them to get up off the ground serve begin to pay him down to. hurt them freeze on the sounds of men and maybe the grown man that mislead essentially. through his return in the. wish to do away from the office or the joy out of his group. the obvious or did they kind of lunge for the web in one smiths and then when it happened on trace one and i just didn't hit them i never saw any contact between the two any kind went back to where they were so the answers back here they're try again fifteen feet apart at this point and that's when the officer is gonna need to turn tree.

donald trump hosts are meeting in washington with the president of brazil and pledges to dial up the pressure on venezuela's government. the german court rules berlin must be held accountable for drone attacks conducted by the united states from an army base on its territory. leader of kazakhstan resigns in a shop in an instant after nearly thirty years in power. varying priorities was facebook too slow to stop the spread of footage of friday's mass shooting at a mosques in christ church but too swift to secretly silence accounts of political views it deems unsavory if i put certain stories about stirring up political issues i am a shadow bad so. that's what my concern is when they continue to ban these kinds of

things to ban this kind of stuff that only going to.