other books may change with time and i think yours is a good example because when it was 1st published 70 years ago it was quite a star i think it was babbitt some of position if not indignation but when i read it some day in the midst of all the changes brought forth by the call it wasn't condemning i cannot find this thing the controversial point and that isn't it striking how the discourse on capitalism changed just in the last 5 or 6 years it was predictable still it is striking it is always breaking you know when when you see this happening in social science the most difficult part is not predicting a trend is dream predicting to speed 20 years ago we got together with several great major actually historical society religious who study. the development of social evolution since attention miso damia you know so all

historical systems. it's going to extinct so we study a warrant do the systems arise and how do they come up and look we've all noticed that in economics for instance you know there is not even if the read on the decline of capitalism you know there's something going touchable because capitalism always overcomes bits crisis not so well in fact you know if your co-author is randall collins and emanuel are set off a mason publicized circles for having predicted the and the albany of the soviet union all the way back in the 1970s but when they started saying that capitalism is also approaching it's its advantage structurally that it was perceived as almost an ideological betrayal isn't that because that many people in the west see a chapter as more than just an economic system as something that is a much much bigger perhaps even sacred ideology it is

a major blinder in social science. it's ever present and of course you know people because they know my faith favorite example is the charles darwin to almost mother century to share his theory with the rest of society because he was a good english country gentleman. because kid just understood that if he tells you know his fellow churchgoer so no originate from monkeys you know he will never be able to go to the church again you know so there will proprietors of the moment and vegas was. as in the $1007.00 just as it was almost impossible to discuss collapse of communism because it would be considered crazy you know president reagan was competing on catching up with no containment of communism so he says this is quite normal it's predictable and human reactions are neutral this

now in your book you wrote that something big was looming on the horizon in the early 201113 maybe meaning ad structural crisis much bigger than the great recession a sense that we've had some jolt 'd here and there a bet that a major global recession didn't sat in and still be. well condemning iraq i'm still waiting for that big something or has it already arrived without us not noticing it. a little i wish i could answer that question and i know i got to be prophetic i don't know you know it's a very much a structural process. so we predicted the fundament one of us raise the issue you know so what if and you play happens and as a we are sitting around the table discussing our book so it is they are in the conclusion so what about the war well look if nuclear war happens and we do believe

it no that did all it's actually much greater than in the trenches century with the inevitable proliferation of nuclear weapons. what happens if the area is a new disease and these are what we called him on the rebels it's an insecure steamy difficult to ponder however it's a very much like the fashionable topic of climate in history. it doesn't strike us all somehow it always strikes this is ideas which are already weakened by something and we see in this weakening mostly in the west i'm cooler not necessarily in the whole world system you know because jobs have been leaving the west industrial good industrial jobs and social guarantees but they were going somewhere so they were going bolstering asia and we see a much more assertive china now and turkey this is where the jobs are weapons and

the question therefore it should be. struck surely no so once these are enchant empires very proud of themselves empires there are forget will they be in. so what happens with these asian powers that be in grief late hit by this migration of capital should we expect another bout of world wars because this is usually what happens historically so we'll look into history and we try to understand what caused. another unique warse because these are rare occurrences and why do we have to go so deep in history because we really don't have another planet to study no so we have one humanity. and we don't have meet many comparative cases signal so capitalism is something quite unique and that's why it is actually very difficult to make predictions from capitalism. is comparable only to late roman empire

not even mentioned imponderables earlier and i want to bring out one more of them the american cell with the last couple of decades have been pretty liberal with that money press but if we look at the data from last year it's pretty i'm president of the m.t.v. measure an indicator of the total supplying off dollars has increased by almost a quarter it's already at 18 trillion dollars such a rapid growth has never happened before or at least not in recent history i know you are not an economist but do you think it has any relation to the main thesis self of your book which is the crisis of capitalism or yes. joe on. the great get done and you go on you missed the dight. it was i think they naturally had you know then we started writing. it you know just and himself of

course coming from a very old capitalist family in milan. and he give notice to know that there are a very long cycle in a secular cycles when one of capital is worse surges. ahead of others they become the track layers but in the so very much like then is gina and florence in the renaissance italy once we're there we will wonder if you know who bait for me to lunch will unfold a renaissance somebody paid for these the expensive who paid for rembrandt for me or you know them you know the bottom process tool the netherlands and then british empire but what happens with british empire by that it war of the end times so it's kind of in a. calm before collapse we had that in the night in 96 in america now that will allow these powers when they fall out it's no longer possible to invest into productive. expansion they invested into finance they were under

to speculation so it generally lumbar be a merchants. in the 17 from driggs the british in late victorian we've already an age you know and then the united states after the crisis of the 1970s you know shift into finance can go on for quite a while and in fact it is amazing for how long the united states could juggle it well into the crisis here tonight in 7 minutes and the end and that's all that surprising because it's not only the american currency but it's also the members or friends have there were also stocks m.c.i. having their breasts danced and you correctly that you're essentially see that as these large cities on the eve of a out of a major disaster when ad people are trying to get as much as they can just because they have a fielding side of things collapse and. i am very afraid

you know because historically this was always a result in a big war. you know this is. very much like we're playing very sophisticated 3 dimensional chess. at some point you reach for a brick and hit your opponent you know that's how it happened to know with just one catholic warse that's how it happened with the boy and it warse with the rise of hitler in germany so these is why you know we do have reasons to warry we might hope you know that this could be a war we did that's why we were raising alarm because very much like the collapse of soviet you know there are 3 big events and in modern history which could not be predicted because they were ridiculous. ridiculous it was world well one because nobody really can see that what would happen if you deploy a soldier and machine guns on the on site against the called a machine guns because this was always done against zulu warriors will do sudanese

tribesmen. french revolution no serious french politician would could ever ever accepted that somebody will like all disappear to become leader of the country and we will deplete it was the rebel and the collapse of soviet union because again you know so that was income to rebel even pull. this audience themselves and that saved the russia you know because russia crash land it it wasn't plunder a lot until it actually happened precious or they'll get it out of it in very short break the people back in just a few months they can. in

the early ninety's seventy's helmet a psychologist 6 only just proposed to the west but insanity a social experiment wanted to live paedophiles adopt and care for neglected boys experiment was a. good model. for girls to tend to believe that sex with older men would help with the boy's socialization over 30 years many children were paedophiles to raise. the blogs. with boyfriends or she just. told the bishop someone to go.

back to all the parties with you or give it a look at a professor of social research and public policy at new york university and without being a whole 3rd does not have a future professor down again before the break we were talking about some of the signs. pointing to the structural weaknesses of the capitalist system one mention the expansion in the currency mass a lot of experts mention it to logic mason as a direct outcome of this real strive for a profit i think there is one more example which is far more immediate and i would cite the american experience call it 19 condemning because i think. one of the reasons why this country would you go. i was struck so hard much. much more

strongly than a combination sigh is because of the very formidable account of an american nations which i personally achieve gets us a combination of cool job in marketing policies over the last 50 or 60 years. but it's the norm it's raise up and basically berrisford of all it did seem to spend then they got us now that's my opinion do you see any correlation between the american experience of because at 19 and a south values or assumptions on the rich american capitalism has been operating. thank or saying you know you just help me explain why it is that they're cheerful so complicated because there are so many shows and side shows growing call sunil danielle slim which one you choose for analysis so it's very much like plague in late medieval europe black death in this certain full juice so was

a dream really complicit in the end of european feudalism it was and didn't anyway . let me tell you know that we believe that there are us and we will trends which are music gay to game skeptical as you mentioned one of them into our mental digger edition however usually this is discussed in government very moralistic tenor bad that capitalism greedy and therefore if we become less greedy you know ever ever sink will be all right grief is not capitals and there is no american capital as there is only global it has always it been global fight from truth here and there are 3 things if you're low me not through a lease them their costs 500 years ago my surety of people in the world what dozens. they produce their own food you didn't have to seek it by their old age

because they either dite all they have defended is to take care of them no you have to have social welfare in alarms you didn't care about how many dreams you told oh well the 1st starting it happened since the 1960 s. ago that we do care and war a leaving security because they're not so many trees left i mean that they've not started it more and more like you said a minute or reaching they're still in it well because there is one planet it's not that capitalism is fully aloof to the social and environmental cost of it there is even a concept of i think it's political antics ation you know a special tax on goods and services that produce negative effects analogies you know some diamonds to the side even though it was always very difficult to accurately calculate that damage but apart from that do you think there's any other at south correct that correcting mechanism within capitalism which will prevent it

from becoming a snake eating its own tail was there of course consuming everything else accent of this is where we should have started what is capitalism because this is not just market because the market to gone amiss ever existed before capital was no longer go i could tell you a lot about a syrian traders in the 19th and 20th century b.c. and they were very good at least equal rave you know that and they were importing more to be called them as they were a village fair where you know read great french historian 3rd ball did the boldest. do. schoomaker and the future cannot make much profit simply because they have face to face interacting in the same village you know they are exchanging used values epochal isn't is a bolt dropped so it's a poker of it making so my question actually lived

a profit making under signal profit making our social profit making 5 proconsul profit i don't know whether it's actually you know so there is some so ask yourself will capitalism be still profitable so this is with the question that we close of you know after all these self-correcting taxes after we factor in everything else you know too much taxation will this ruin griffith's when generals in chinese multinationals enter the global market will this ruin profits was going to say i think i can be handouts advocate here because not just talking about taxation he had talking about that let's say national business maybe there is an issue with perfectibility but i don't. look at the transnational corporations they're raking in norma's amounts of money you know n.b.c. has them a little bit more they will still be profitable by very very high margin and i

think this is actually don't you think that this is this kind of debate that you know increasing taxes is bad for business will make capitalism and profitable is actually something that serves don't read very well because they're making a lot of money out of our private data out of things that they don't well they create but you know then that is such huge resources into it and the it in the amounts of profit that they're getting from all of that cost is enormous and has never been like that into human history so is it only about taxation doesn't that actually challenge your. your thesis that capitalism would not be profitable if you tax it you highly i mean there are different kinds of capitalist i guess well you know profits historically and not believe you're a far right they became hard and we have data on don't you know so there are quite a few historically call them

a sinner who did the. taxes became serious between world war one. and in 1000 seventies you know why you know because. there were world wars let was a threat of communism and there was a threat of fascism and it was better to pay off this is why social democracy like scandinavian social democracy became possible so profitability him yes you know they can sucker fice some of the profits you know the capitalists might be scared you know but look what's scarier that so that's the question today what happened in the 1970 s. in a white taxation when dharma the proliferation of short distant asians and of course leases of open secret everybody well governments in the world have enough capacity to learn where the money is there is no political will why there is no political will you know because that's how the politics function since the 1970 s.

globalisation was essentially an escape from taxation. you know escape into safe havens and escape into cheap brother action bases in asia somewhere that's all you know so and that's why you know you leave behind the western workers. they become not the workers but welfare recipients you can send them to school for ever you know which as you see what is happening you know so many students there you can even dramas them are guaranteed income so that they don't rebel but they will vote for populists as a result so these are all there is fear if i mean a system in a time and again i'm coming back to roman empire bread and circuses because that's the only president we have now let me mention him when my term because i promised our viewers in the beginning and we haven't talked about that. yet there is a strike on iran he complained before in some other ancient you with some regret i

guess that. that phenomenon hasn't been static very carefully by social scientists in structural terms and not my math not in memoirs not want non not an ideological trance but in terms of structural analysis why do you think that's important and do you think if the golfer and is not a solution then at least understanding why that the cattery system is not dealing with it that's a very good question and also the question is posited you know so rest assured there no doubt there are people asking bit. i was once maybe several years ago i was asked to fly to on of european very nice capitals babe a business class i agreed because i asked you know what the conference is a bolt and they told me in response the usual c. ok so that's really going to become interesting so i find myself in

a nice kind of media will christie library restyled with glass and still to date on the one side of the table prominent experts on the collapse of soviet union on the other side of the table the men who and their women introduce themselves as call me hasn't i was doing back well i'm advising the prime minister of my country you know that was all you know so they wanted to see with that there was anything to be learnt from the collapse of soviet union so that the european union could be more secure i don't think these were obsessed directly because they were different creatures however i know that there is a very basic realisation in you know the elites can mess up so i mentioned already french revolution who were more sophisticated than the french political elites in the age and central hundreds of years of experience in court intrigue and in

diplomacy and yet they do a lot for the french revolution because they never imagined it happens and the same with the soviet union you know i never expected to be a professor in a american university and speaking english now. but this happened in the elites can mess up do not trust the good judgments of elites you know they might be very intelligent let me at nasa be a little bit more specifically in that question because here you wrote in your book that whatever transformation. catalyst may take it will definitely not result in c. of the fortress type of mentality of the soviet union and if they look around it well it's hard not to come to a conclusion that this is already happening in that they call it making it seem conscious 1st and behaving very selfishly in securing supplies and now sort of

reverting to sound sufficiency economics our proficiency predicated on the need to provide for that own citizens. i know it's not communism but if you really looks like everybody is for themselves for now much more so than i bet you were going to add magine that when you were writing your book so. again i know you cannot say that for sure but in terms of intuition which way do you think this system and the capitalist system will go because right when you talk about the end of capitalism it's sounds very political but both you and i understand that nothing disappears forever and the soviet union didn't disappear if it gave birth to russia as may know it today so what for i. think that transformation will take based on the traffic the general radio apps are there always the summary possibilities and only 3 possibilities in social i mean. one is extinction you know member told 60

you know there are quite a few human societies which are extinct. i don't think it's going to that it could happen in a because look you describe picture of a reaction to call it done demick. their allies how similar it is to the great depression of 929 and the rise of fascism and care for the ration of a war in the 1930 s. and thus why communism in the soviet union was actually not an ideological obstruction you take over immediate 3 mobilization machinery from world war one and the rest will flow you know including good luck including propaganda secret police so they are out to help us ability said no one as your goal to a next stage something more more complex and let me come back to this later and you can get stuck it's cold involution this same only smaller so in many respects actually russia is kind of involuted soviet union minus communist ideology but it's

still sending oil it still has nuclear weapons and it's number 3 as go into next stage so i mentioned you know that in the beginning capitalism. was actually cost free because there were dozens and dozens took care of themselves the biggest problem is internalization of costs over production social reproduction you have to pay for schools. for retirement something which was done by naturally and by village communities you also have to pay for environmental reproduction. these are all costs so the question is what kind of organisation globally can bear such a cost and there is no such organisation in sight and it will take no global problems must him global solutions and we don't have anywhere in sight all this

happens typically confused some kind of girth quake must happen 1st and then as the russians say you know start to cry stunning themselves and something may change so we're coming to get professor we have to leave it there but thank you very much for sharing it with us today. our pleasure and thank you for watching call to siri again next week but of all the part of. our. bars are. welcome to max kaiser financial survival guide. putting closure to

a year that's without. the yanks this is what happens to pensions in britain delicacy driv watch has a report. since it other than. pay for them is the. right. type he's attending. to me in the next tongues arms mom i'm going. to feel good he's a. little too. good to. look forward to talking to you all that technology should work for people. must

obey the orders given by human beings except where such conflict with the 1st law. for should be very careful about our personal intelligence and the point is a great. place to take on theories with artificial intelligence will something the demon. must protect its own existence is exclusive. with. the or tactics that can be used to get innocent people to confess to crimes they didn't commit i don't even think people in the us really get that the police are allowed to lie to you the person who falsely from actually came to believe the lie that they were told about their own behavior once a false confession is taken the case is closed nobody really can tell the

difference between a good confession and one that isn't. the stories that shaped the way to hear an artist's lack it becomes that i exist in the country to get brushes but i think that saying that is the block struggling to get its own vaccination program off the ground russian i plan is to complete a hat trick of fine grain vaccine for the latest gadget called the back is expected to be launched later this month we speak to the head of the institute behind it. you know a bit of closure with europe but if we do not have to prove the prestigious institution in the products it makes the institute is 16 years old and is connected to the victory over playing leo in yellow fever and we deliver drugs for these diseases abroad so we don't need any promotion. and keeping an eye on friends and family new zealand says no one should be off limits when it comes to unfold.