Origin of the Crisis
Part 1 (10 min 02 sec)
“The process of speculation inevitably leads any nation to ruin.
Money speculation, in whatever form, must be based on some source of work that is capable of sustaining the level of returns. If such a source is not the working people of the country itself, it must be the laborers from another region. The point I wish to make is that all wealth, whatever its amount, has its source in some activity. Thus, if the level of speculation increases greatly, simultaneously those at the other end of the process – the workers – become poorer and as the later become devastated, the means used to generate money with money will also eventually be decimated – and all collapse at the same time, as is now happening.
When I say that capitalism is doomed, I am not saying that capital should not exist; only that submission of the people to economic power must end. To earn from capital without working is theft; and to work without sharing in the capital involved is slavery; and in both cases the result is an imbalance.”
Work & Capital
Norberto Keppe
Part 2 (11 min 44 sec)
Part 3 (10 min 44 sec)
Part 4 (9 min 39 sec)
Tags: Analytical Trilogy, Bailout, Economic crisis, Norberto Keppe, Obama Recovery Package, Reaganomics, Social Economic Crisis
