i may grow higher. when one . 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 the early ninety's and so on when a situation developed by the similar to this. now this periods extreme because if you look at their wealth distribution the inequality mostly comes from super wealth

. literally the cup 110th of a percent are just super wealthy. not only is it extremely unjust in itself. inequality is highly negative consequences on the so it is awful. because the very fact of inequality has a corrosive harmful effect markers. you opened by talking about the american dream or the american dream is classman dillard it will encourage you or kurt. get rich 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. democracy 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. were. concentration of wealth yields concentration of power particularly so as the cost of elections skyrockets

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 deregulation. rules of corporate governance a whole variety of measures political measures designed to increase the concentration of wealth and power which in turn to 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 1776 he read the famous wealth of nations. he says in

england the principle 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 all for 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.

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 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 as they will the majority of the poor get together and they would organize 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 1st major book on political systems aristotle's politics. he says of all of them the best is democracy and it only points out exactly the flaws that medicine put into. if absent were a democracy for free men the poor would get together and take away the property the rich. well same dilemma they had opposite solutions or settle for posed what we would nowadays call a welfare state and try to reduce inequality. so the same problem that solutions one is reduce inequality will have this problem and the other is reduced democracy.

if you look at the history of the united states it's a constant struggle between these 2 tendencies democratizing tendencies 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 1906 for example were a period of significant democratization. sectors of the folk elation that were usually passive apis it became organized active story pressing their demand. and they became more and more involved in decision making and their wisdom and so on. they just changed consciousness and.

minority rights. we don't want. women's rights. if we force it to say. in terms of the. american as. they say boring of mankind seeking to provide a position to christian through those who criticize us on the militant descent they are serious about lawn on the provider of the vietnamese people black people and people concerned for other people 1. 1000000 poor people in america when you begin. to reason. the system of

distribution of wealth the question of restructuring american society these are all symbolizing say. that caused great fear. anticipated the power of a should have but it didn't anticipate the power of the reaction to the civilizing effects of the sixty's i did not anticipate the strength of the reaction to it. the backlash.

i thought. oh. fuck it a little over. what politicians do something that. they put themselves on the line and they get accepted or rejected. so when you want to be president or injury. or something i want to be preached. to the right to be for us that's what the 43 in the morning can't be good that i'm interested always in the lawyers in the hottest. place

sitting. well you know the cars they were kind of adopted because we were called pirates for so long. i mean they're in the small boat sniffs it hard for ships and it's still very. much tough and. the little self to make cold fish already 90 percent of it don i need to call in with connor. cons of 15 scoops 75 tons to not hundreds or what several times a day with a big fleets of power you get an idea of why the ocean is. we have to understand we can not stay still and just. be with me this will be used be only boys and girls. i'm doing this because i want the future

world to the future can generations to have and enjoy the ocean how we have. when the whole make its manufacture consent to instant of public wealth. when the ruling classes protect themselves. with the financial merry go round they've learned that one percent. of the time we can all middle of the room sick. i mean real in the real world.

there has been an enormous concentrated coordinated business offensive beginning in the seventy's to try to beat back the egalitarian 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 them 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 an outside power. 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 as. exactly similar to the 1st. 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 carter ministration. 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 2 knockers and 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 on the state can't deal with all these pressures so therefore they have to return to a city and become the politicized. and they were particularly concerned with what was happening to young people and 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 flub is good 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. well 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 1970 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 2 crucial respects one to increase the role

of financial institutions banks investment firms and so on insurance companies. but a 2007 break before the latest crash they had literally 40 percent of corporate profits. far beyond anything in the past. back in the 1950 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. behind the providing any. money. to the community by making. money for a manufacturer or ongoing. remodel are going to money out of the white people are always needing more cramming and i have a meeting. that's a contribution to the economy. regulatory system was established banks were regulated the commercial investment banks were separated cut back for risk investment practices that could harm private people. there had been remember no financial crashes during the period of regulation by the 1970 s. that changed.

the story getting the huge increase in the flows of speculative capital just astronomical increases 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 the director of a major american corporation back in the fifty's and sixty's was very likely to be an engineer and 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 1970 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 a complicated ways and it's very unclear that they're doing anything that sort of value to the economy. so that's one phenomena let's go financial ization of the economy. going along with that is the oh sure introduction. 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. it's been particularly striking in the united states but happening worldwide it means that an american workers in competition with a 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 move but capital can again going back to the classics like adam smith as he pointed out the 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. policy is 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 on. compensation increases has been evident for a few years but as i outlined in some detail in testimony last month i believe that job insecurity has played the dominant role workers in secured are going to be under control. they're not going to ask for say decent wages were a decent working conditions or the opportunity to free association meaning unions. now for the masters of mankind that's fine they make their profits but for the

population it's devastating. for these 2 presses financial ization and offshoring are part of what led to the vicious cycle of concentration of wealth concentration of power. says you stressed to. this or that the british and the bill of voted out. to. stop the show so you'll see then taste the face changes she's a c.e.o. which quite a long. time and now look what you've seen in the response you took a moment of me for to share. your thoughts on the show through my it's your bonus

for c.b.s. you. could say mr hazlewood supporters are still welcome to the spirit of full duration to be arguable that it's a studio actually the person with the phone calls or should stop them spinning. she. says this is a stick for the water bottle phone in the stomach of a fish the brand is spawns of the coca-cola company which sells millions of bottles of soda every day the idea was that let's tell consumers there are the bad ones there the litter bugs are throwing us away industry should be blamed for all this waste the company has long promised to reuse the plastic.

on your phones at a special projects funded me. on i knew that that is the end of it for the team but for now the mountains of waste only grow higher. ready ready ready ready i am sure the need to stop it from continuing to grow. i just never know very good about the idea of bringing children into the world because i didn't feel like things were in very good shape that a life was just going to be

a lot of software program. there was no reason the more. you take things that are already near the nose and then move something else that need to get some everybody's scared to talk about it certifiable is truly dependent on us addressing this issue and if we can even talk about it and we can even have a conversation of that it then. we're in trouble. ready for the day there are good terrorists and bad evidence the bad terrorists and those in yemen who the united states deems to be a threat the look to those who work in syria the cia and the u.s. military were engaged in covert actions really throughout the world. where they were assassinating populist leaders they were backing up right wing military funding an army just was there's not anymore because there's always a small for

a really good. profit. the u.s. media outlet claims moscow has been interfering abroad for a sentry look at whether the russian meddling moniker might just as well be used to prevent a 1000 years ago. also this hour recovery teams in yemen call 88 bodies from the ruins of a prison bombed by the saudis at the red cross saying the number of dead likely to be 100. 11 rally in support of whistleblower julian assange this new celebrity is joining in among them and lloyd's man roger waters.