Capitalism and humanity - Fifth short

8. Is Capitalism, or whatever we should call the current system, the best one to serve the needs of humanity, or can we imagine another one?
Short with
🔺Mark Blyth (Scottish. Economist, author, William R. Rhodes Professor of International Economics at Brown University)
🔺Rana Foroohar (American. Business columnist, associate editor at the Financial Times, and also CNN’s global economic analyst)
🔺Paola Subacchi (Italian. Economist. Professor of International Economics and Chair, Global Policy Institute, Queen Mary University of London, Visiting professor at University of Bologna, author)
🔺Frank Van Gansbeke (Belgian. Business and Finance Professor of the Practice, Middlebury College (US). Forbes online Contributor)
🔺Arjun Jayadev (Indian. Economist. Professor at Azim Premji University, Bangalore, and Senior Economist, INET)
🔺Arunma Oteh (Nigerian. Economist, Former Treasurer and a Vice President of the World Bank)
🔺Laura Pautassi (Argentinian. Lawyer, Professor at Universidad de Buenos Aires, Researcher, Activist)
🔺Hannah Ryder (British-Kenyan. Economist and diplomat. Founder and CEO of Development Reimagined, adviser)
🔺Josh W. Mason (American. Economist. Associate Professor at John Jay College, CUNY, and Fellow, Roosevelt Institute)
🔺William Hynes (Irish. Economist, Head of the New Approaches to Economic Challenges Unit (NAEC), OECD)
🔺Grigory Yavlinsky (Russian. Economist and politician. Author. Professor Higher School of Economics University, Moscow. Leader of the opposition Liberal political party)
0:00 - Intro
0:10 - Start interviews
Age of Economics: in the first part of this project a diverse group of global thinkers answers 8 fundamental questions about economics and capitalist civilization.
►Website 👉www.ageofeconomics.org
►KZbin channel👉 / ageofeconomics
►Twitter 👉 / ageofeconomics
►Facebook 👉 / ageofeconomics
Video by Fabio Dondero
Music: J.S. Bach, from The Well-Tempered Clavier. Kimiko Ishizaka, piano

[@jeff__w]

“Age of Economics: in the first part of this project *a diverse group of global thinkers* answers 8 fundamental questions about economics and capitalist civilization.” It’s just a hunch on my part but it seems like Josh W. Mason is the only one out of the eleven featured who has, based on his background, an anti-capitalist/non-market-or, at least, not a pro-capitalist/pro-market-perspective-this, on a question about whether capitalism is the “best system” to serve humanity. How diverse is that?

[@AgeofEconomics]

Hello, in this video you can see "only" 11, in total we interviewed 55 people with imho pretty diverse perspectives. See: www.ageofeconomics.org

[@dmwalker24]

Just seeing "American. Economist" in the listing above, I was not expecting that he would be the one, but I will gladly take my allies wherever I find them. Several of these were I think, well meaning, but there's always that sense from pro-market liberals of wanting to have their cake and eat it too. A couple were absolutely horrifyingly bad takes. Particularly, Paola Subacchi.

[@ivandate9972]

Humanity itself was never explained here. which one? Darwinian or Egalitarian?

[@psikeyhackr6914]

Does planned obsolescence serve the needs of humanity? Do economists understand enough about technoloGIES to figure out when it is happening? Regardless of whether or not it is happening depreciation occurs anyway. Air conditioners and lawn mowers wear out. What has happened to the depreciation of durable consumer goods since Sputnik?

[@psikeyhackr6914]

What if the problem is that The Market, alias consumers, cannot evaluate the complex products we have today? I asked a PhD economist from the University of Chicago to explain how an automobile engine worked. He couldn't even start. He drove a white SUV.

[@ywtcc]

The way Capitalism is defined in this discussion is a great example of why you shouldn't ever listen to an economists' political advice. The efficient allocation of goods and services through markets, using money, has been around for thousands of years, and is not a good definition of Capitalism. Capitalism was born in the 17th century when shareholder corporations became de facto governments in parts of the world. This Capitalism means governance for the benefit of capital. A Capitalist government will seek to undermine markets whenever they threaten profit, resulting in the bloated bureaucracies of non competitive firms. (Think Victorian Britain, or America in 2023). This is the contradiction at the heart of the economist's poor political advice. The politicians willing to break up monopolies, and force firms into market competition, are all Socialists and Communists! If you want Capitalism as an economist defines it, then the Chinese Communist Party is more likely to provide that for you than the Republican or Democratic Party.

[@zaelu]

Autocracy.... scary... where is that autocracy again? I don't think even N Korea has Autocracy... one wrong step there and Kim's family can lose grip fast. But if you look at the world largest countries in size and/or population... they are not autocracies. At all. Calling them like that it just shows you are paralyzed by fear.