Technology is advancing in leaps and bounds — and so is economic inequality, says writer Chrystia Freeland. In an impassioned talk, she charts the rise of a new class of plutocrats (those who are extremely powerful because they are extremely wealthy), and suggests that globalization and new technology are actually fueling, rather than closing, the global income gap. Freeland lays out three problems with plutocracy ... and one glimmer of hope.
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lel lel lel this is common sense at its finest. A pareto distribution with blackswans is something universal. It applys to every information network system. From the largescale structure of the universe (galaxy super clusters) down to Youtube (Pewdipie 62Million Followers), google search terms, facebook and even to your brain there are synapses-nodes representing a big part of all the other cells. You can take it from the rich, give it to the poors and after x transactions its the same as before. Taleb is right with economists, they are Itellectual yet idiots allways looking for false causes. Bullshit....and Buffet is the top? Whats with Rothshild take a calculator. There are Trillionairs in the world.
It appears those who agree with the speaker are the most financially illiterate.
The very wealthy do not have billions in cash - they own company stock worth billions.
THAT is the source of their wealth - the value placed on their stocks.
In fact in many cases the stocks alone account for about 99% of their wealth.
Company stock = wealth.
Will leftist speakers like Freeland _ever_ admit or even _mention_ these facts??
In Canada they tax you like you're rich when you make $80k a year, so no chance to get rich through honest work. But the government is always cozy with the banking elites, so anything else is just talk.
Hi Alphas. Just to remind you, there are tens of millions of Deltas and Epsilons out there, getting more and more desperate every day. You can't kill them all. You can't dupe them forever. You can't convince all of them when their children are starving that it's all their fault. Pretty soon, the armed and desperate are going to figure out where the money is hidden and will knocking on your door. STOP lobbying for more advantages. STOP buying politicians to pave the road for you to keep more of your stolen wealth. STOP polluting the environment, breaking unions, stealing from the common coffers and START paying your fair share of taxes. Otherwise, the last two words you will hear when a revolver is pressed against your head won't be "happy birthday'. We're seeing more and more mass shootings and 'deaths of desperation'. Sooner or later, in this land of more guns than people, these desperate folks you hate and want to destroy will be taking out the .001% before they go out in a blaze of glory.
Excellent speech and content.I do prefer also to see that concrete solutions are offered eg to correct income inequality , crooked judicial and political systems and guaranteed health care, education, workers rights , infrastructure standards, access to media that represents what is really going on in the world and a voting system that represents what the majority of the people want.
Instead we have corporate media ,crooked governments who advocate war with bought politicians who are not looking after the needs of the people.I have always stated that the US especially is a dictatorship where the 1% keep the minions poor and uneducated .We are there now.Is it time for pitchforks???
surging income inequality is result of natural selection on the process . 40% of Fortune 500 companies were funded by the immigrants or the children of immigrants . While natives enjoying their privileges living their home land , immigrants were working hard and achieved big. The challenges humanity facing today precipitates the next stage of human evolution, and visionary , daring and hard working people will lead the way and others will vanish soon. Living in same land, breathing same air and education is available for all of us, and we complain somebody is getting ahead ? nonsense.
Freeland is a war monger who sells weapon to Saudi Arabia the most anti democratic country , Weapons used against Yemen Civilians and she support the civil war in Ukraine by providing advisors and weapon to the Kiev regime that killed at least 5000 east Ukrainian. Freeland will go to war if it benefits the OIL and weapons industries.
Educational arms race... twattle.
Religious corporatism is designed to create and protect an elite.
The golden dawn of the golden man, of the golden age, of the golden rule... He who has the gold makes the rule.
Great video! I guess the only thing that puzzles me is that it is a commercial to buy gold and silver from their company. With currency???? Sounds super, I guess, if their only goal is to collapse the system, but be left holding the bag with our useless currency, out of the kindness of their hearts. Or can you buy the gold and silver with bitcoin?
it Did Not work=out WELL for EVERYONE
- only for the 1%
Chrystia Freeland is so wrong !
all it was is a wealth transfer
- meanwhile most of the population are poor
I do not know why the audience clapped ?
she suckered them into believing her lies.
We're taught that feudalism ended 200+ years ago and humanity gained democracy, freedom. But the empirical fact is, since then the feudals have only been pondering "where did we go wrong?" scheming and establishing elaborate ways to ensure something like French Revolution never happens again.
Meanwhile, Chrystia is working her heart out to sign a trade deal designed to allow rich corporations to sue the public (i.e. the poor). She was so upset it was blocked by Belgium that she was basically crying today. What a disgusting hypocrite.
Please America we need to do something now! This endless bulldozing of our Liberty and Money we made to the government. This ignorance in the way the majority either just dont care or use the government as your example? I do not need credit you dont either for that matter it has enslaved and corrupted ourselves government thinks its OK to lie right to our faces? How is one evil lesser then another? Evil is Evil! This is ridiculous I cannot stand it here in this blind to the facts country. We have no one to blame but us the 99% We are the government they work for us is it really that hard to get involved? Is it not your duty as a US citizen? Time to end the BS or it will end a large portion of us. Stand up put an end to thievery, inefficiency, and bring back our freedom. The worst part of all this seems that somehow a currency that has nothing real backing it should be controlled by us. It does not matter how we close the gap it just has to be done. The present economy cannot last it will fail soon. Also to all who think Edward is a traitor shame on you. He gave all he had to fill us in on how your rights are snatched away daily. IT IS OUR GOVT WE ARE THE BOSSES WE HAVE TO TAKE THE RAP WE THE PEOPLE HAVE TO FIX IT!
We are approaching a time when within a couple decades, probably around 2030, give or take, automated systems will be able to do virtually anything Humans can do, only better, faster, with less errors, costing less money and so on.
Who will own those automated systems?
If we don't think about how we will manage this ahead of time we can end up with an extreme crisis that could plunge us into WWIII and/or give rise to a true total global dictatorship and/or cause the total extinction of the Human Race.
We must figure out how society is going to adjust to not needing the majority of the worker class performing the work it has been doing. If we don't figure out how to adapt, the consequences will likely be very bad.
we should have a 4 day work week. Better life / work balance. Slaving away just to work is going to be a thing of the past as we evolve. Years from now, generations will be amazed that we spent 5 days per week at a job and only 2 days of free time. Think outside of the box... I mean... afterall the norm used to be six 12 hour days... and that changed. 3 or 4 day work weeks is the future, if we are to positively evolve as humans
+buren You'd like to think it's nonsense, buren... because you don't know any other existence.... besides being a slave. Go ahead and keep taking cheap swipes at others (A E) but don't go thinking you know what you're talking about. You're just another sheep who doesn't WANT to think of alternatives to your pathetic reality.
Chrystia Freeland is a phony whom has been purchased by the rich. She might have use to believe in what she is saying here, as I once believed in her foolishly, but ever since she got a position in government, making the big bucks from the wealthy, she has signed the TPP with the dirty lying Liberals in Canada, and she no longer makes these videos, nor speaks publicly about these issues. Who can blame her tho? Thats capitalism in a nutshell.
This video has a lot of good info. The US unemployment rate is more than 20 percent and the US middle class is trending toward 50% of the population, not 65%. Most of modern technology is destroying jobs. And foreign imports are hurting US jobs including IT. In 1975 a typical mfr plant might have 2,000 workers. By 1990, the same production could be made by less than 200 workers or about 10%.
It works at universities. The people are taxed, the children are brainwashed with Marxism, the kids grow up and vote for more taxes. ...... what do you mean doesn't working? If not for Islamist killing us off for being financially, militarily and morally weak and not reproducing, the socialism could go on forever.
"Nearly 63% of US households in the bottom fifth of Americans by income had no earners for the entire year in 2014. In contrast, only 4.1% of the households in the top fifth had no earners in 2014, providing more evidence of the strong relationship between household income and income earners per household."
+David de Lancey
No, I refer to an economist who provides the Census Bureau data that you don’t refute. The data are right here:
Unlike individual inequality, household inequality has increased over that time because of the increase in single-parent families, but that is hardly the fault of the affluent.
Does she condemn Clinton/Bush/Obama who had no problem at all with NAFTA and destroying the middle class. Chrystia Freeland is a Harvard grad and Rhodes scholar - just the very same group of elites which produces your average war monger and tyrannical western leader. If she isn't out to sell more (of the same) propaganda I'll eat my shoe laces.
'Caring for the poor' appears to be the way up the political ladder. I cannot trust her from her personality and background. A white liberal in general is something to distrust, more than a white conservative quite often.
+StartabandRoxy I agree !! And the best part was when she said that globalization took a lot of poor people out of poverty straight to the middle class :D Who is she referring to ?? Vietnam and indonesian people who work for 1 dollar a day ?
+StartabandRoxy With more than 92 million citizens without a full-time job (20 hours a week does not count) the REAL unemployment rate is at least 20 percent. The official govt figure is adapted for economic and political reasons. A 5% rate "justifies" bringing foreign workers into the US. If you have a degree from Harvard, Yale, MIT or a similar university, then your rate is probably less than 4 percent. (:>)
A new "new deal". Newsflash, you are not the president of the United States, and if you were, you would be beholden to the billionaires who supported your campaign anyway.
Thanks for the into to political science lecture, but you have no solution other than we need a new, new deal.
Your a politician in Canada with no power, not POTAS. Why don't you spend your energy on things that matter in Canada?
As a member of the lower middle class, my main impediment to higher consumption is the cost of government which is always taking more of my money, and providing less.
So what's the new deal, or is it just the Canadian chattering classes new topic.
9:00 Amazon, Apple, Google, Starbucks, ... working the international tax system in order to lower their taxes
Interesting note: As of November 2015, Prime Minister Justin Trudeau has appointed Ms. Chrystia Freeland as our new Minister of International Trade.
What this socialist propaganda leave out is the source of state corruption and central banking as the main source of the inequality.
Get rid of the state and move to an anarchic order of private law! Not only is inequality likely to get better but at least inquality will be earned.
Canada and the US have the richest and second richest middle class in the world. I bet she loves Harper and wants to learn from him since we are the world wide winners. PS we have many, many rich and we need them to support the richest middle class in the world - the anti-rich politicians just market to the stupid
holy crap you guys are dimwits - google richest middle class in the world. It's Canada (was until Justin became in charge) #1 and US #2 - that's the statistics... I know what she said but she is completely wrong. Otherwise capitalist nations like Canada and the US would not have the richest middle class in the world. sorry but you guy don't understand the big picture. The pie isn't fixed in size so... go ahead and split it evenly but by doing that... there is no pie. Look at Justin Trudeau's dad's love for Mao Zedong - pie was split evenly... meaning people starved to death. Of course Mao was very fat and had everything.. communism is capitalism for the government elite
Intriguing presentation, quite telling, though the words 'greed', 'avarice', and 'cupidity' are curiously absent. Taking into consideration that democide (death by government) could be the greatest killer in our century, clearly all blame and accountability are being shifted, but our attention is also obviously being distracted from this fact.
+Stacy Clarkson After reading your thread I see that you haven't looked into or even thought about your argument(s). Leave your ideology behind and investigate. Look a little deeper!
And don't try to avoid learning something new by attacking me. You have homework to do Stacy...
because its narrowly related: the ultra rich get more and more power and change the world the way they like it > rake in more and more money. Whereas job opportunities for the middle class disappear. The easiest way to elevate the poor is too redistribute more off the wealth by taxing the rich. Income tax is way too flat in the US!
And as long as a majority of people care more about kim kardashian or honey boo boo than their personal economy or education, this won't change.
Remember for every rich person on the planet there are a thousand poor people who took the same risk but failed.
The combined net worth of the 400 richest is....$2 Trillion. Only an optimistic fool would believe that taking money from the 'rich' will solve your 18,000,000,000,000 debt! Besides... you only get that $2 trillion...ONCE. after that they give up, flee, or have a breakdown. 2 Chron 7:14
This is real bullshit, she does not talk about inflation or the federal reserve, rich getting richer because government intervention, and not by less government intervention, small medium companies have to obey every year newer and more stupid regulation, but big corporations have special deals with government to have no regulation so they can have their monopolies... and then this lady blames the free market for creating plutocrats? I think its other way around, more government is Plutocracy. Look at 2008 crisis, banks don't care, they know goverments save them if it go's wrong and that creates moral hazard.. people don't even care where to put their money in what bank, because banks are all the same. You have to blame both the democrats and republicans for this mess, both party are socialist fascist's!
Wow. I like to feel that I'm a somewhat educated person. Ms. Freeland must have had a great view of my scalp as she talked over it. However, I'm not sure this wasn't intended. It's easy to convince someone you know what your talking about when you use a lot of jargon. The talk could have used a little less jargon and more charts and graphs to help us understand.
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