Ausmumof3 Posted February 3, 2016 Share Posted February 3, 2016 Did anyone watch this TED talk? What did you think? http://www.ted.com/talks/yanis_varoufakis_capitalism_will_eat_democracy_unless_we_speak_up 1 Quote Link to comment Share on other sites More sharing options...
PrincessMommy Posted February 3, 2016 Share Posted February 3, 2016 I wish I understood the topic more... but I did find the Q&A at the end most enlightening. Quote Link to comment Share on other sites More sharing options...
Bluegoat Posted February 3, 2016 Share Posted February 3, 2016 (edited) I'll read it again later. It struck me immdeiatly that what he said about ending wage labour was very much like what is advocated in Distributism, which essentially says that both capitalism and socialism make a similar error - they abstract real people, and indeed communities, from their labour and their land and the means of production. In capitalism because it belongs to the capitalists, and in socialism because it belongs to the government. Individuals and families, from this perspective, need to own the means of production which they personally depend on, and only in this way can there be economic stability and political empowerment. One of the things that has been found in the kinds of co-op business structures is that for them to work well, it isn't just a matter of having workers as owners - there have to be ways to integrate the worker-owners with management. However - I felt a bit as if there were quite a few missing elements. Perhaps particularly questions about the viability of growth in the economy at all. Edited February 3, 2016 by Bluegoat Quote Link to comment Share on other sites More sharing options...
Ausmumof3 Posted February 4, 2016 Author Share Posted February 4, 2016 I'll read it again later. It struck me immdeiatly that what he said about ending wage labour was very much like what is advocated in Distributism, which essentially says that both capitalism and socialism make a similar error - they abstract real people, and indeed communities, from their labour and their land and the means of production. In capitalism because it belongs to the capitalists, and in socialism because it belongs to the government. Individuals and families, from this perspective, need to own the means of production which they personally depend on, and only in this way can there be economic stability and political empowerment. One of the things that has been found in the kinds of co-op business structures is that for them to work well, it isn't just a matter of having workers as owners - there have to be ways to integrate the worker-owners with management. However - I felt a bit as if there were quite a few missing elements. Perhaps particularly questions about the viability of growth in the economy at all. I kind of felt he did a good job of outlining the problems but the solution area was a little fuzzy. He seemed to be recommending a system where all the workers own the company but I could t figure out how it was going to work with retirement etc. if you can't own stuff unless you are working on it what happens when you stop working? Also how does the profit get distributed evenly and enough put back in? I'm not an economist either so it's a little over my head. Quote Link to comment Share on other sites More sharing options...
Bluegoat Posted February 4, 2016 Share Posted February 4, 2016 I kind of felt he did a good job of outlining the problems but the solution area was a little fuzzy. He seemed to be recommending a system where all the workers own the company but I could t figure out how it was going to work with retirement etc. if you can't own stuff unless you are working on it what happens when you stop working? Also how does the profit get distributed evenly and enough put back in? I'm not an economist either so it's a little over my head. I think what he was suggesting is cooperative ownership. What usually happens is that the employees own shares in the company. It can be quite simple in small business or quite complex in larger ones. https://en.wikipedia.org/wiki/Worker_cooperative https://en.wikipedia.org/wiki/Mondragon_Corporation Quote Link to comment Share on other sites More sharing options...
Ausmumof3 Posted February 4, 2016 Author Share Posted February 4, 2016 But I thought he said they cease owning it when they leave? Did I understand that right? Quote Link to comment Share on other sites More sharing options...
Bluegoat Posted February 4, 2016 Share Posted February 4, 2016 But I thought he said they cease owning it when they leave? Did I understand that right? Yes, they would probably sell their share back to the company. Then they could either buy a share in another venture, or work independantly, or retire. Quote Link to comment Share on other sites More sharing options...
Ausmumof3 Posted February 4, 2016 Author Share Posted February 4, 2016 😟 So companies will be able to sue the gov for hurting their interests? how on earth is that going to work?! Quote Link to comment Share on other sites More sharing options...
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