« "Saudis warn of economic reprisals if Congress passes 9/11 bill" - TTG | Main | Syrian election results. »

18 April 2016

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Fred

Richard,

A fine piece from Paul Krugman, whose only failure is to leave out any mention of the richest man on Earth, Carlos Slim, and how his telecom wealth enabled him to have, to quote the Chairman of the NYT;: "the quiet but fierce confidence that has enabled him to have a profound and lasting effect on millions of individuals in Mexico and neighboring countries..." For those wondering what the "profound and lasting effect" was the plaque on the statue of Liberty sums it up quite nicely. I wait patiently for Paul Krugman or any other courageous NYT reporter or editorial writer to pursue an expose of the conduct of the non-robber baron in the acquisition and use of "wealth beyond the dreams of avarice". The only thing he and the rest of the aristocracy of money seem not to have is enough.

Of course Steve Sailor is more eloquent than I:
http://www.unz.com/isteve/money-changes-everything/

Tyler

And the take down of Paul Krugman

http://www.unz.com/isteve/money-changes-everything/

Walrus

Agree 100% with Richard Sale. Most AMericans are trained like Pavlovs dogs to howl when the word "socialism" is uttered.

doug

Revolutions are started by altruists. If they are successful they are subsumed by humans with baser motives. Accumulating and retaining power. That there are increasing inequities in America is fact and will accelerate. However, I don't see it coming from monopolies but more from increasingly accelerating analytical power and purposed automation occurring simultaneously with rapidly decreasing costs. Sure their are dominant industries but many of them are far newer than the dominance ones of 50 years ago. Most, but not all large institutions drown in their own success. Stagnation and inertia is always most exercised by the previously successful. In academia it's "resting on one's laurels." The hard part any mixed (EU style socialism) economy has is balancing the disturbing changes that growth produces with economic redistribution that maintains a sense of some degree of cultural, national common purpose.

Robots depreciate but they don't go on strike and can work 24 hours a day with only brief maintenance requirements.

Most jobs people currently have, even fairly skilled ones, will vanish in the coming decades. What new ones will replace them? In the past this has been answered and likely will continue to be. How exactly people find meaning and spiritual health is not known and almost nothing is certain. I, for one, have no idea how this will work out. Are Trump and Sanders symptoms of this? Probably.

That said, whenever I consider socialism what comes to mind are two sayings that can apply to both unchained capitalism and socialism.

The road to hell is paved with good intentions.
Power tends to corrupt, absolute power corrupts absolutely.

Amir

I would like to add a film fragment from an Oscar nominated Flemish movie "Daens" https://www.youtube.com/watch?v=lyHBkNvs7Ag I tried in vain to find a free version with English translation.

This Catholic priest, from Catholic Aalst, made common cause with the "Godless Socialists" in Ghent and struggled for workers (including 8 year olds) rights. He had so much influence that the official Catholic Party in Belgium used it's influence in the Vatican to ban him from the tribune.

Proud to have gone to a university with a rich history in social struggle: https://vooruit.be/en/overvooruit next to the University's Rector's Office

As Doug mentioned, there is now an "automation in thinking" and with monitoring devices and making charts about flow of work within an organization and use of Electronic Medical Records, computer analytics of the data and even individual physician habits and care and personal clinical approach can be documented and slowly integrated in a artificial semi-intelligent process. Soon this will be an artificial fully-intelligent process.

William R. Cumming

Thanks Richard as always for a fine post. A footnote on former Senator Gregg, He almost personally was responsible for creation of problems in the enactment and implementation of the Homeland Security Act of 2002. Why? His vision that nothing in the way of legal authority, funding or staffing should be transferred for DoJ to the new Department except for immigration issues [INS-Immigration and Naturalization Service] which may well control the outcome of the 2016 Presidential election. N.B. that candidate Obama promised comprehensive immigration reform in 2008. Greg was a member of the Judiciary Committee.

Again Upton Sinclair and Norman Thomas two of the outstanding socialists in American history. And in Pittsburgh there is an historic district dedicated to New Harmony where believers first gathered before leaving for Indiana and then returning after the failure of the New harmony "colony"!

The London School of Economics founded early in the last Century by socialists.

divadab

Socialists do some things very well - Education and Public Health, e.g.; free marketeers handle markets very well. SO why not have a mixed economy where Socialists manage education and public health, and the free market handles the markets? Denmark is a very good example of a mixed economy with a dynamic free market AND a socialist side that porvides for the people. Cuba a good example of a "pure" Socialist economy - and it has the best education and public health in the Caribbean but general poverty as free markets are prohibited. IMHO many of the social problems in the USA are due to squeezing out socialist programs and people in favor of profit-oriented organizations.

Mixed economy, OK! Balance and moderation in all things....

Tyler

Socialism only "works" in white countries with high social trust and taboos against living off the largesse of others.

As the Borg has imported plenty of foreigners who have no problem cashing their gimmedats check despite being of sound body, socialism is opposed because most people rightfully see it as wealth transfer and vote buying.

Fred

divadab,

Cuba is a communist country that jails dissidents and all education is in a single language with courses mandated by the central government. Balance and moderation, socialist style.

Mark Gaughan

Thanks Richard.

Mark Gaughan

That's not a "take down" of Krugman. It's a verification.

ToivoS

I guess if you consider Japan, China, Singapore and Taiwan as white countries you might be right.

Will Reks

Depends on how you define socialism. If it's outright Scandinavian style socialism then yes it's probably opposed. If its what liberals have offered in the United States dating back to the 1930s then most people have no problem with wealth transfer and vote buying. The reason why they will continue to have no problem with this is because everyone knows that the vast majority of wealth generated in this country is flowing to the rich.

There's a reason why Trump opposed cuts to Medicare and Social Security and hasn't attacked people living on food stamps and SSDI. It's because a lot of white folks that will vote for him are heavily dependent on those socialist programs.

Seamus Padraig

Unlikely. Carlos Slim is now the New York Times' largest shareholder.

Tyler

Toivo,


White and East Asian are interchangeable.

no one

ToivoS, I think if replace "white" in Tyler's comment with "culturally homogenous and non-third world" then his point is valid.

Tyler

Will Reks,

Because a lot of white people have a problem with the politicians who want to cut these benefits turning around and giving the money "saved" to imported 3rd world peons. Theyd rather just not import the peons.

Ergo: Ave! True to Trump.

LeaNder

you may want to amend that for more interested readers:

"Frenchman Paul Leroux"

https://fr.wikipedia.org/wiki/Pierre_Leroux

Is that who you have in mind.

Tell me if I am wrong. I may have looked this up due to love-affair 'cum' US French relations.

elkern

Those of us who lived through the 60's, 70's, or 80's have mostly sorted into two groups: people who are afraid of Socialists, and people who are afraid of being called Socialists.

Younger people - for whom Soviet Communism is History, not news - don't have this problem.

Generalfeldmarschall von Hindenburg

I'd say most revolutions are made by disaffected members of elites. Altruists jump in with enthusiasm and tend to get put to the wall once Thermidor rolls around.

Fred

Seamus,

I am shocked, just shocked, that that fact is not ".... news fit to print"

Farooq

There is a way to turn on translated captions in the youtube link you posted but the translation is not all that good from what i saw.
Click on "CC" button to turn on Dutch close captions. Then click on the settings button next to "CC" which looks like a mechanical gear. Then click on "Subtitles/CC" and then "Auto translate". It will show you a list of language and you pick English.

On the last paragraph of your post, there is a storm brewing in ~10 years time. People with higher paying jobs will suffer like blue collars who suffered with de-industrialization of advanced countries.


MRW

“Socialism” has been a problem word and boogeyman since the Panic of 1893, when that worldwide global depression was credited with creating the Russian Revolution, and disrupting Latin America.

CW Barron, the managing director of the Wall Street Journal and the father of modern financial reporting because of his insistence on data to back up every assertion the WSJ made, said that it was the rampant nationwide “fear of socialism” that forced the creators of The Federal Reserve Act of 1913 to draft the so-called ‘private ownership’ plan for the 12 District Federal Reserve Banks. Senator Robert L Owen (no relation to the Utopian Socialist) held month-long hearings on the proposed Federal Reserve Act bills (House and Senate) throughout the month of October, 1913. You can download these 3500+ pages from hathi trust if you have a university affiliation, three volumes. Of course, in terms of real teeth, the member banks of the District Federal Reserve Banks are no more private owners than you are when you subscribe to an online service.

MRW

I would read Paul Krugman with an attitude of ‘duly noted’.

May I suggest these articles by the excellent Pam Martens and Russ Martens:
Wall Street Banking Model Takes Center Stage in Today’s New York Primary
http://wallstreetonparade.com/2016/04/wall-street-banking-model-takes-center-stage-in-todays-new-york-primary/

One Forgotten Document Casts Embarrassing Light on Krugman’s “Sanders Over the Edge” Column
http://wallstreetonparade.com/2016/04/one-forgotten-document-casts-embarrassing-light-on-krugmans-sanders-over-the-edge-column/

MRW

I’m convinced that a majority of young people think Socialists are people who like Social Media.

The comments to this entry are closed.

My Photo

September 2020

Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30      
Blog powered by Typepad