Economic Update, for August 22, 2014 - 10:00am
This KPFA audio archive is no longer available. For more information on KPFA's archiving policy go here: Learn More.
More from this show: About the Show | Archives of this Show | Playlists from this Show
At the end of this hour Rick explained that advertising pollutes civil discourse and undermines the capacity for rational thought. The techniques of advertising (I'll add) have dominated election campaigns for decades, at least since the 1920s when mass psychological manipulation became viable. You can hear the irrationality of advertising in every argument offered by climate deniers, and by paid trolls on Internet blogs. Rick always recommends eliminating the underlying malady rather than trying to mitigate it by other means. So eliminating advertising would be more efficacious than trying to teach critical thinking. Without the paid deceptions of commerce and corrupted politics the regular old varieties of everyday thought would work just fine.
What "invisible hand" moved these packets of income? It was the raw force of wealth-power manipulating politicians, legislation and regulation; and even substituting corporate authority for governmental sovereignty.
Strangely enough, a Neocon book (2003 "The Mystery of Capital") by Hernando de Soto (no joke) fully explains this phenomenon from the Elite point of view. It's all an accounting trick with the advantages of secrecy and police state power.
As Rick described the gains of the top 20% juxposed with the losses of the bottom 20% i saw a short train of 5 boxcars. All the gains of the top fifth were being magically offloaded from the other 4 cars, moved like hopping fleas or packets of data. There was not much growth, but what there was resulted from intensity of commodification. Things that had been in the commons became te property of te already rich. This little train ain't going nowhere. It has no engine. The income hunger of the powerful will massacre the passengers and finally burn down 4 of the 5 cars for sure, and the top car too if it can't decouple and roll away. Monopoly Capitalism is a deathtrap.
(64K stereo mp3)
KPFA 94.1 FM (24k mp3)
KPFB 89.3 FM (16k mp3)
iPhone: Public Radio App
Android: TuneIn Radio App
WebOS: Public Radio App
Click Here For Help Listening