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Politics Chatboard

You Can't Go Back - Only Forward!

by T.E.C. - Iowa

Dec 28, 2017

More and more, I learn that going back to old policies would be impossible.

For example, economist Richard Wolff says we cannot go back to deporting every illegal, because it would result in a failed state at our southern border - costing us much more. This does not mean open borders. Clearly, many Americans want their citizenship to have more legal significance than an open border policy provides.

Now, I find economist Yanis Varoufakis (Greek) saying we cannot go back to the New Deal of the past. Add to this, Richard Wolff claims if we did, the rich would undo the new "New Deal" in 35 years rather than the 70 years it took this time.

Although not mention as a factor, I notice the New Deal was limited to workers. That would not be acceptable in today's world.

(Quote from Varoufakis' - edited from spoken word)

In the twentieth century, we had the stabilization and civilization of capitalism through the rise of social democracies (Europe) and ...See MoreMore and more, I learn that going back to old policies would be impossible.

For example, economist Richard Wolff says we cannot go back to deporting every illegal, because it would result in a failed state at our southern border - costing us much more. This does not mean open borders. Clearly, many Americans want their citizenship to have more legal significance than an open border policy provides.

Now, I find economist Yanis Varoufakis (Greek) saying we cannot go back to the New Deal of the past. Add to this, Richard Wolff claims if we did, the rich would undo the new "New Deal" in 35 years rather than the 70 years it took this time.

Although not mention as a factor, I notice the New Deal was limited to workers. That would not be acceptable in today's world.

(Quote from Varoufakis' - edited from spoken word)

In the twentieth century, we had the stabilization and civilization of capitalism through the rise of social democracies (Europe) and the New Deal (US). Unfortunately, the paradigm is dead.

The New Deal was about two things. First, it was redistribution within waged labor. A kind of insurance for the working class - for example: unemployment insurance, union pensions, and more

The second dimension was distribution between capital and labor - for example: minimum wage, progessive tax system, and collective bargaining laws.

(Snip)

The first plank is not possible because wages have stagnated to such an extent that it is impossible for the working class to insure itself. And the second plank, the redistribution between capital and labor, is increasingly impossible for two reasons. First, the politics! (Snip) Redistribution requires political governance, and Europe and the United States are ungovernable - utterly and completely ungovernable.

The second, in science fiction terms, is called "the rise of the machines." Artificial intelligence will soon consume all repetitive work and all algorithmic work - especially the moment the machines pass the "Turing Test." Once we have that we will have a massive displacement effect which, for the first time, will overwhelm the creation (of jobs).

(End quote)

Clearly, there is no going back!

More discussions on the Politics Chatboard...

Re: Been a while...

Re: Artificial Intelligence (AI) will Destroy Capitalism!

Before we defend them, we should check if they've paid up

Re: Well, well, well.

Back to Politics Chatboard

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