OUR DEMOCRACY NO LONGER REPRESENTS THE PEOPLE: LESSIG

 In a TED talk, "Our democracy no longer represents the people. Here's how we fix it", Larrry Lessig puts forth useful ideas to return our government to the people: https://www.youtube.com/watch?v=PJy8vTu66tE

NOAM CHOMSKY EXPLAINS WHY WE HAVE LOST OUR DEMOCRACY

Watch the video:
https://www.democracynow.org/2017/5/29/noam_chomsky_in_conversation_with_amy?utm_source=Democracy+Now%21&utm_campaign=0ab703e92a-Daily_Digest&utm_medium=email&utm_term=0_fa2346a853-0ab703e92a-191163633

CONSERVATIVE WRITES THAT INEQUALITY HURTS DEMOCRACY

In an excellently argued article the author makes the point that economist misunderstand two principles.

"We simply need to correct the two erroneous assumptions identified above: Renounce the Pareto principle* of zero-impairment, and end the assumption that an increased tax share demonstrates that people are worse off."

*"Pareto principle, which holds that if a government policy improves the spending power of one group, we should assume zero impairment to other groups providing their absolute position does not go backward.", David Alexader


http://www.nationalreview.com/article/447246/inequality-american-democracy-wealth-gap-worsens-societal-fractures?utm_source=pocket&utm_medium=email&utm_campaign=pockethits

TWO VIDEOS THAT TELL THE TRUE STATE OF OUR ECONOMY

Please take the time to view these two videos. The first is Moyers and Company's What the 1% Don't Want You to Know. The second is The Biggest Scam In The History Of Mankind - Who Owns The Federal Reserve? Hidden Secrets of Money 4 by Mike Maloney.

https://www.youtube.com/watch?v=QzQYA9Qjsi0&t=667s

https://www.youtube.com/watch?v=iFDe5kUUyT0

WORLD ECONOMIC FORUM DECLARES NEED FOR FUNDAMENTAL REFOM OF CAPITALISM

"This points to the need for reviving economic growth, but the growing mood of anti-establishment populism suggests we may have passed the stage where this alone would remedy fractures in society: reforming market capitalism must also be added to the agenda," it said in its latest Global Risks Report.

http://www.wsmv.com/story/34232678/world-economic-forum-says-capitalism-needs-urgent-reform

PLEASE KEEP INFORMED AND POLITICALLY ACTIVE.

POST CLASS

Thank you all for participating in the Saving Capitalism Class.
Sorry I did not realize that Thornton Oaks was closed on Columbus Day (Hopefully American Indian Day in the future.)

Please keep involved. We are about to be at a crossroads.

In our last class we had a good discussion on the following topics:

RESOURCES

YES! Magazine : An example of the type of articles. Please explore the site. It is an outstanding magazine for positive change.

Resources for Organisers

How to contact Your Representative

COOPS

the New Economy (Coop)

How to Finance Co-ops

INHERITANCE AND INEQUALITY

Patrimonial Capitalism

Hedge Fund Managers Vs. Kindergarten Teachers

THE PETRODOLLAR

The Petrodollar

MONOPOLY

ANTI-TRUST LAW

CLIMATE CHANGE

Coping with Climate Change

Climate Change and the Economy (Hopeful)


GUARANTEED BASIC INCOME

Right to Capital Income

What is Basic Income and Why do We Need It?

DAY SIX OF SIX

For our last class we will all share our thoughts and possible actions. If time allows we will take up some topics that were not covered before. Then Jose will pass out the evaluations.

A new book, American Amnesia, is out explaining how we got in this mess, but not strong on solutions.

If you plan on becoming an activist this article might be helpful:Activist Tool Kit

We did not really discuss "Free Trade". This video explains why the US or multinational corporations want the agreements: Insight into TPP and other trade agreements. Also Hufposts' article: Free Trade Was Never Free.

We did touch on the media, but did not go into any depth. Even with streaming media so wide spread they tend to be one-sided creating their own bubbles. The major media are owned by the oligarchy as described by Noam Chomsky.

We do not have time to watch Capitalism is the Crisis, but it would be worth your time to watch it on your own computer

 Alan suggested an excellent article on  the health care death spiral. While the article predicts a failure in the system, I believe that their are ways to make it functional. These include: The elderly are healthier than before; There are revolutionary medical advances coming; Universal health coverage would take the profit and advertising cost out; Improving our food supply and consumer education would make us much healthier; Controlling the cost and use of drugs would be a big help.; As he states proper incentives are needed; Changes in the way we deliver health care are very possible to reduce costs; Seriously attacking fraud; and Reducing unnecessary tests and doctors' insurance costs could go a long way. 

 Some places have done some of these successfully.  

I believe we can lick this problem, if we find the will to make some very difficult changes. If not, the costs will certainly be unmanageable. One worry is the drug problem. If it keeps on getting worse, I doubt that there will be anything that will help.

Alan suggested an excellent article on health care that 
we should read because of the vital importance of the topic. 

Meanwhile, the public share of the cost for a new stadium hosting baseball’s Texas Rangers might be more than advertised. In theory, it’s a 50-50 public-private split. In practice, it might be something different.

“Tucked in the agreement,” says a report from WFAA-TV, “is a clause called the ‘admissions and parking tax’ that allows for a 10% surcharge on event tickets and up to $3 additional surcharge on parking. State law allows cities to collect and use the taxes to build their stadiums. Arlington's agreement, however, allows the Rangers to use the admissions and parking tax revenues to help pay their half of the construction costs.”

That’s “verbal gymnastics,” says Villanova professor Rick Eckstein. "It's relatively unprecedented in terms of stadiums I've studied over the last 20 years."