INET continues to do fascinating economic research through its grantees. How to explain the low inequality in East Asia, compared to the high inequality in China and India? The answer lies into the ‘when’ of their development, and the nature of the ‘global regimes of capitalism’, in particular, the role of the state and the particular relation between capital and workers.
This is a fascinating interview that I recommend listening to in full.
Watch the video here:
He understands the pernicious nature of the Ayn Randian cartoon ‘philosophy’ resting behind the “neo” models that have already done so much to destroy the middle class in the West.
Frankly its even worse than the attempts to destroy collective bargaining and the rights of working people.
For instance, what the globalist F.I.R.E. sector understands is that putting working people in debt is much cleverer… and much more beneficial for the oligarchy than actually paying fair wages.
Its actually a variation on the old ‘company store’ scenario.
I can see this as the next step for Foxconn employees. Instead of better wages… why not just “LEND” them some of the money captured governments allow privately owned banks to create out of thin air!
And if we can keep the rubes from having any meaningful political voice… and so consumed with day-to-day survival… well maybe they’ll never catch on.
Great plan. Ultimately it won’t work and causes massive misery. But actually quite clever. And it seems to have worked long enough in the West to destroy its civic culture and concentrate its wealth in fewer and fewer hands.