Class 6: “Political Power and Wealth” by UC Berkeley Professor Reich

[@LarkLeonard]

Thank you, Robert Reich, for this ongoing free education. I appreciate it, very much! Thank you.

[@chris51lee]

😊qq

[@chris51lee]

1aaq

[@fritzforsthoefel8031]

Pay your fair share of taxes to pay for the social programs he wants otherwise we add it to the debt our children will have to pay for shame on you for wanting. Big government without paying for it

[@philipptheobald6865]

​​​@@fritzforsthoefel8031 Firstly, I'm fine with paying my share of taxes for good universal services, security, and equal chances for all. But you do know that there are different contending economic theories? Among economists, there is no consensus on the role of public debt, on how much of it is sustainable, or on who it actually has to pay, etc. If you compare different countries, you will notice that for some of them, double the amount of debt that the US has in relation to GDP is absolutely no problem at all, e.g. Japan. Indeed, some economists, for example, those of the school of Modern Monetary Theory (MMT), argue that the national debt has nothing to do with future generations and that it can always be paid back as long as the country controls its own currency. Long story short, let's have a productive discussion about real arguments without scaremongering about mountains of debt for future generations. If you really think it's a problem, explain in detail why you think that is and why so far it has been no problem at all for countries like the US and Japan (heck, even European countries have relaxed about it). And it's not a problem anymore even in Greece: they just went further into debt to counter the pandemic and nothing happened, low-interest rates, etc. So long!

[@asdfghyter]

@@fritzforsthoefel8031 the debt tends to increase the most under rightwing governments though, since they prioritize tax cuts and corporate welfare

[@BethMcCann-y2v]

Thank you so much for making this course available for all. Loving it.

[@census4510]

What a great class, so much to think about, so much work that must be done by all of us.I just hope it doesn't take a national disaster as it did in past history to right the boat again.

[@jlys5037]

The bitter gift of this lecture lies in underlining so boldly that the law (rules and laws of society) and justice/fairness do not always intersect. This is a lesson you thread eloquently through most of your lectures- those students are blessed to have you as their Prof. Bravo.

[@fritzforsthoefel8031]

Justice does not exist in Reich's words he wants to take useing government force from one group and give to another without any economic activity another word for that is theft

[@SEAL7471]

They're not very blessed to be paying so much for their tuition so this guy (who's estimated to be in the top 2%) can rake in $400,000 a year from them. And that's before all his other income.

[@nejaahalcyon]

​@@SEAL7471attack ideas instead of perceived (at this point, fantasized hypocrisy). The only thing that matters is the value of ideas and personal criticism isn't addressing ideas

[@SEAL7471]

@@nejaahalcyon It's not a fantasy lmao do a little bit of research before you glaze someone. And if you find out someones a total hypocrite and still choose to support them because you agree with them politically that says enough. I'm tired of people making so much money wanting more of mine

[@SEAL7471]

You're right. The university only paid him $323,683.00 (2022, most up to date but has been increasing for years). Had to hit his $400,000-$500,000 yearly salary doing things on the side and asking for donations on instagram.

[@boombot934]

Thank❤🌹🙏 you, dear Professor Robert Reich! Free education🎓 is always a pleasure! 😊

[@francofavot6761]

Professor Reich, another way the government and elites close the door on a lot of the unfortunates is by employers insisting on criminal background checks for potential employees. The people in question have paid their debt to society but yet get no access, in most cases, to work with good pay , benefits and pensions. I believe it is a violation of their human rights. The playing field should be equal.

[@Bobywan75]

There is one government job you can do with a criminal record... president :s

[@fritzforsthoefel8031]

I agree but let's say you own a hotel and someone applies for a job for cleaning your customers room that has a criminal record for theft would you hire them

[@fritzforsthoefel8031]

The top five percent pay over half the federal taxes what are you talking about stop believing in democrat lies

[@user-kpkxgtj]

What would be the incentive for law-abiding members of society to continue in the same vein if there are no strikes for criminal behavior and the playing field is 'equal' so to speak?

[@fritzforsthoefel8031]

What crimes are you talking about

[@cheri238]

Thank you, Professor Reich. It was a thoughtful analysis.

[@BelieveTruthDisbelieveFallacy]

Wow, what a powerful "call to action" as his last words. As others have said, thank you for making this course public.

[@Edo9River]

For me, this series of lectures and Prof Timothy Snyder’s series on the results of forces acting on the European empires to produce the current conditions in Ukraine are worthy of absorbing

[@joshuapauly6686]

Thank you so much! I love the add-free video with so much 'wealthy' knowledge. You truly are an amazing mentor! Thanks again:)

[@I.AM.JUPITER]

I am so appreciative of this knowledge now. We have been bamboozled!!!!

[@shrabonibabu]

I m 65, from India not with any economics background; find this making so much sense and the context is absolutely relevant here and its present democratic setup and governance. A new (11years old) political outfit with limited success displayed its "political will" breaking such viscous cycle, gaining tracion among masses with welfare governance is facing ruthless conspiracies and political tortures by rulings and other traditional political parties.

[@arich20]

Thank you for making this accessible. We need this. For anyone interested, a short video by youtuber Kay and Skittles called "The Function of Fascism" is a great pairing to this.

[@aanchaallllllll]

0:19: 💡 Power is about limiting choices available to others, particularly in the context of labor and capital. 7:33: 🔑 The video discusses the importance of pre-distribution and the influence of different entities on decision-makers. 16:13: 📈 Income and wealth inequality is not a zero-sum game, but power is. 24:14: 📈 Corporate election spending increased significantly in the wake of the Powell memo, while labor spending started to decline. 32:27: 💼 Retired politicians are going into lobbying due to higher monetary incentives and increased corporate investment in lobbying. 41:01: 📊 A tiny number of wealthy households accounted for 40% of all personal campaign contributions in the 2012 election cycle, but their political spending does not significantly impact economic inequality. 47:51: 📚 The concept of property and its enforcement in markets has evolved over time, with laws changing to address issues such as slavery and land acquisition. 56:15: 📚 The video discusses the shifting nature of contracts and the evolution of methods to deal with failure to pay debts. 1:03:33: 🔒 The video discusses the issue of young people, particularly people of color, being arrested and held in pretrial detention without bail, leading to plea bargains and disproportionate penalties. Recap by Tammy AI

[@C-Span222]

Thank you for making this available for us!

[@arebolar]

Things don’t need to stay the same way. They can always worsen

[@seanmcdonald4686]

Thank you, professor.

[@leealexander3507]

The Powell memo made me. absolutely furious.

[@MakeSomeNoisePlaylists]

Powell was really one of the first poeple that corrupted democarcy without even knowing what he had done, I guess......conservatives people are not good for a democarcy, never ! ​@@numbercruncher6242 Full memo here: www.greenpeace.org/usa/wp-content/uploads/2021/08/PowellMemorandumTypescript.pdf

[@junanougues]

Thank you, Doc! Great idea.

[@leealexander3507]

I no longer have sufficient power coupons. Life happened and not much of it was in my favor in recent years. I suppose I can live with that but it would have been nice to be able to use what little power I once had on behalf of my adult children and grandchildren before I'm no longer living. I was never extremely wealthy but I had enough to have bought a few favors. Quite a few favors if I brought my friends together who wanted the same things.

[@davidpeppers551]

17:26 ............and thus inequality increases inequality.

[@nuplanner5345]

HR1 really kicked in this last year. This is the first time in 35 years I had to write a check to the IRS. I can no longer deduct my unreimbursed work expenses-or my charitable contributions. Think for a moment what that means for charities the middle class wants to support.

[@cynthmcgpoet]

This describes what the Hollywood producers are doing to both the writers and the actors. They are literally limiting the choices of both unions, and the unions are having none of that.

[@1fareast14]

47:29 can't argue with a 20,000x ROI

[@carlosross4547]

Since this session had a lot of political content, why not compare the policies set in other countries regarding democratic processes such as campaign financing? You could also analyze democratic, political and social rights compared to economic classes (race would be difficult because many countries do not identify race).

[@billnye8143]

Hardcore man... Hardcore

[@dreyfalex]

It would be very helpful to explain what you mean by predistribution, rather than just repeating the term over and over.

[@nejaahalcyon]

That was in the previous lectures : political decisions, about the economy and the market, shape where the money flows from and to, before any actual activity has happened. Merely from the longs or short term decision made by all the productive tissue of society that originates from all the incentives of the laws and regulations

[@NeoShameMan]

I am the senate! -Palpatine

[@sascharambeaud]

Guillotines used to be a great reset instrument that one time. Food for thought.

[@CuriousPhilosopurr]

Woah…😮

[@1fareast14]

50:58 oh yeah, patents are whack. Too many to be properly examined. Particularly galling when open source material gets stolen, then patented.

[@jean-pierrevanmeir5075]

To conclude: free market economy can work in all kind of political systems...IT IS NOT THE PRIVILEGE OF A DEMOCRACY !!!

[@fritzforsthoefel8031]

What's your point

[@fightthepower4648]

KZbin video: "Global Declaration of Independence - Fight the Power"

[@AdmiringDirtBike-oq9bb]

We can replace all rich people with 2 average paid people at 40 hours a week and get lots good work done and use the old rich wages n rich company profit to pay the poverty wage people more as a better world for most

[@jmer9126]

Calling changes in the law “reform” as in “bankruptcy reform” is a quick way to propagandize them.

[@faceluckcell9484]

anaLysis They can aLways worsen why not compare the policies caLLing changes

[@robertritner-hi9yy]

I guess his opinion i If there were no rich people in the world then there would be no poor people either.

[@chasemorello60]

🪙📝*

[@CC-kl4nh]

This is just so disheartening.

[@johnsmith-w8n2d]

people blame capitalism while communist leaders are also rich while everyone else is poor

[@thehylers1021]

It's obvious that you haven't been listening to these lectures. Concentration of wealth and power exists in all forms of government. The professor has been mindful in his discussions encouraging us to ask questions and look for explanations, not making judgments or placing blame.

[@johnsmith-w8n2d]

@@thehylers1021 most people care more about themselves than others im not saying they dont also care about others but its also true they care more about themselves than others

[@thehylers1021]

@@johnsmith-w8n2d yes I agree with you and I'm struggling with this. What's the point of toiling for expensive things or fame when making a difference in the life of just one person can make an eternal impact.

[@fritzforsthoefel8031]

I blame democrats party of handouts

[@MakeSomeNoisePlaylists]

Dude...please watch much more Robert Reich videos. I am sure you will learn a lot....

[@ArthurDentZaphodBeeb]

'Maybe it will begin with you'. Wish he'd have asked how many in the audience bothered to vote?

[@brendanjobe6895]

My wife (white, five counties away from Memphis) recently was pulled over for the horrendous crime of holding her cell-phone (which was set to 'driving directions') while driving "too slow" (according to the policemen): Colored cop, white girl, five counties away. Reckon she got a ticket? Why, I knew the answer to that before she got anywhere near the end. And they wonder why so many people despise policemen. His last remark: "You can pay it online, or you can go to driving school (for which one has to pay)." I straightened out his English. THAT is wealth redistribution.