The Crisis of Global Capitalism: ten years on

Speaker: Professor John Gray
Chair: Martin Jacques
This event was recorded on 21 October 2009 in Old Theatre, Old Building
The financial upheavals of the past two years have occurred against the background of a decade of crisis in global capitalism. The neo-liberal model has collapsed. What comes next, and what are the geopolitical implications? John Gray is emeritus professor at LSE and author of Gray's Anatomy: selected writings and False Dawn: delusions of global capitalism. This event is supported by the LSE Annual Fund.

[@peterabbit69]

Gray is a deep and creative thinker.The top 1% who believe in the present Marie Antoinette model of capitalism think that they are immutably entitled to all the wealth. There can be no discussion or dissent. Howl down Gray or any other idiots proposing a fairer or more just alternative! 99% of us will simply just have to put up with it and suffer increasing hardship or poverty.This is simply "markets" "working" - not greed and avarice! The rich need "incentives" to create jobs. Fairy Stories.

[@intlprofs]

True, thus far the insulating rich need to be taken down or we will shortly see a fully formed entrenched version of 1984 and Brave New World, with no end in sight..That's what I see daily in the USA, where I have lived. The next time the banks fail we will rapidly see if power is modified, at a time of more fully present climate cnange more clearly biting us. The very rich do not psychologically abide in America. Moreover, they increasingly live with the equally rich around the globe. What do you want to do about it?

[@guzzopinc1646]

wow. this was about 10 years ago? seems to have come completely true.

[@lukeb8045]

No I think what he is saying here has only partially come true. He completely missed, or didn't see coming the the rise of what he later called hyper-liberalism or the far left. This has tended to be a blind spot for a lot of academics. He certainly does seem to talk about it now.

[@guzzopinc1646]

@@lukeb8045 can you recommend books or essays on this topic?

[@sextwister]

thank you for sharing these insights. This is what youtube is all about

[@cr4yv3n]

No it should be titled "Crisis on capitalism as it always was, but only now we see it because it finally affects us !"

[@JohnChampagne]

If a more honest market would promote sustainability, and if sharing natural wealth would end abject poverty, that should be mentioned in a long talk on economics / capitalism. We could charge fees to industries that deplete resources, emit pollution or destroy wildlife habitat. The more harmful industries would shrink, change or die. Sharing fee proceeds equally would make the policy fair. Sharing proceeds would end abject poverty.

[@franriding6473]

(FRENCH ACCENT): 10 Years later...

[@peterhartman55]

3 years later and almost nothing has changed.

[@ajs41]

Has anything changed since then?

[@HBrown-cc6wv]

@@ajs41 nope

[@jaybone23]

John Gray's "False Dawn" is a must-read, even though the last edition is about 8-years-old now. Hell, just read the forward to the 2009 edition to get a concise summing up of the issues surrounding the 2008 collapse and what's needed going forward.

[@jhhwanghwang888]

2008 Financial crisis. HANK Begged CHINA FOR HELP. CHINA HELPED AMERICA. HANK, IT iS Time to HELP Dr. HENRY KISSINGER IT IS TIME FOR GOOD MEN And WOMEN with Integrity to HELP President BIDEN AND AMERICA. GOD Bless AMERICA GOD Bless Humanity. GOD Bless AMERICA GOD Bless CHINA GOD Bless Humanity. THE GOD Of ABRAHAM. GOD Almighty IS Eternal GOD THE GREAT UNIVERSAL ARCHITECT.

[@ajs41]

All his books are worth reading. I've just read his latest: Leviathan.

[@jollybutterworth7323]

In 1998, investors were high on their own prospects of turning the whole world purely capitalist. That capital begets capitalism was a miracle mantra. Now even reformers think of economies in terms of being consolidated purring engines requiring sole maintenance. Apart from moral values, including as characteristics applied to people, such as christian, there's no way forward for liberals. Minuscule yet heroic efforts of defended fortresses for common people in their free living options are translatable as meaningless sold tasks in a far more streamlined economy where work becomes a monetized end product in itself, not a living situation (homeland or communist state, party, or world) where the love light shines. It's important to believe in a promised land where every little effort is sacrificed to hope. What of unequal contributions? That is a problem either way, and some introduction of anarchy - moving to somewhat unworkable systems - might prove them workable and closer to nature and the virtues of allegiance (humane traditional values).

[@richardofficer392]

Brilliant and prophetic

[@lawrence9506]

He is to optimistic.

[@9avedon]

This should be titled "The crisis of corrupt central banks economic fraud"

[@kurtkren266]

It's a secularized version of calvinist predestination.

[@cr4yv3n]

Basically what every conservative since Burke said.

[@ngonea]

He sure knew what he was talking about, BRICS on the rise 2013, the world is sick and tired of western domination...

[@ohedd]

"In a few yeeeaaaahhzz"

[@Jezza872]

I like this guy but why is it, when I listen to economists, I feel like I'm listening to cardinals in some religion? But what religion is it? Protestantism? Or, something else?

[@citizenwangpeng]

Mr. TheGreatPenetrator - your comment is absurd. Capitalism and socialism are relatively recent systems -huh? Capitalism was developed during the colonial period and all the underlying assumptions are embedded in the practice. Maybe capitalism is something else to you. Marx is a historical figure who lived during the development of capitalist theory and his works are in response to economic thinkers at that time. Life is not black and white buddy.

[@LaureanoLuna]

0:07:30 John Gray opposes equal opportunity to free speech! When he said old poisons of politics would be back, he forgot to say he himself would be bringing them back!

[@cr4yv3n]

Stop watching when he cleverly said "crony capitalism" to avoid showing the reality that CAPITALISM always does this. "crony" or otherwise.

[@luyolomify]

Hahaha, that's like 3 minutes into the video!

[@cr4yv3n]

Claude Mackay It is enough to prove he has a biased view and he is going to great lengths to avoid blaming capitalism as a real critic should do.

[@luyolomify]

As if to say there's an existing good form of Capitalism. I fully agree, Sir. I was just baffled by your lack tolerance in entertaining drivel.

[@CC3GROUNDZERO]

Same here. I always just cringe when someone says "crony capitalism".

[@clandestinereactionary1842]

As opposed to what?

[@ac1dP1nk]

well that was boring and fence sitting.

[@DenianArcoleo]

If there is one thing John Gray isn't it's a fence-sitter. Read Straw Dogs.

[@ac1dP1nk]

Denian Arcoleo Isn't that largely composed of a denunciation of humanism? Why would someone create that? And he seems like some meta apolitical academic in this lecture, lacking warmth and character, which means his audience is focused entirely on his arguments, which don't go anywhere aside from broad projections to not repeat failures of the particular past of american capitalism that is currently so dominant in the world.

[@DenianArcoleo]

ac1dP1nk Unfortunately you're having difficulty hearing what's being said because of a negative emotional reaction to the speaker. This is a very common problem. Gray has something very important to say about who and what we (humans) are and I for one am hearing him loud and clear. Read Straw Dogs!

[@ac1dP1nk]

Denian Arcoleo He says the enlightenment is a waste of time and we should not emulate the ideals that it cherishes... fuck that.

[@septicwomb4394]

@@ac1dP1nk “his audience is focused entirely on his arguments” How on Earth is that a bad thing?

[@guilhermesilveira5254]

John Gray is a taoist philosopher. He fights against reason and capitalism. His positions are complete wrong. Secularism and capitalism are the foundations of civilization.