Woolf .... Contemporary Modern Marxist academic analysis of current state of capitalism

http://www.youtube.com/watch?v=C6WVLftjwhA&feature=youtube_gdata_player

Contemporary Modern Marxist academic analysis of current state of capitalism

About 30 mins is particularly amusing

Great talk! always inspiring to hear a clear well thought out viewpoint.

“There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.” 
― Henry Ford

analysis of detroit and the recovery are spot on.   Those housing companies underwriting housing fanny mae, mac etc are a great example of public run companies.   The nonsense that is the concept of free market also good.  See the federal reserve and bernanke for centralised beaurocratic control.

However I take issue with this selective reading of russian history.

I find it deeply ironic that marxists tenet of ... Property is theft....led to the 
    the populist  notion of giving peasants there own land, fascinating but most of it was eventually confiscated, collectivised and purged.   See the ukranian holocaust or extermination through hunger where the seed crop was taken as food http://en.wikipedia.org/wiki/Holodomor

Stalinist Russia is not an acceptable model alternative,  it was DEEPLY FLAWED.  It was no shagri la.   Where ws the joyous expression of consumerism in their car designs ?  People like to drive nice cars and wear nice clothes.  See the blackmarket for blue jeans and the state of cars in cold war russia.

there was many reasons why communism fell and failed.

The tendancy towards two tier corrupt state of political elites seems to be universal.   See also the french revolution and present day.

Next... Worker surplus value...  Profit is an essential part of a successful business.    It is compensation for entrepreneurial risk.    There are many zombie companies particularly on the high street or malls at the moment paying people more than they have made per day.

100 percent wages is unsustainable idealistic nonsense.   It becomes a question of equitable pay.   A fair days pay for a fair days work.   Working for less than the actual cost of living is a national disgrace.

Working for a share of profits is a great idea.   A tiny amount of share options should be given to people who work for a company.  People could buy shares with their money if they had any financial awareness.

Domestic markets and brand loyalty are an important consideration.   You have to have someone with enough money to sell the car, jeans, house.  This process is shortcircuited by printing money.

You worked in universities ....  They are currently putting students into horrendous levels of debt and paying many of their deeply stressed lecturers a pittance whilst the chancellor makes 400 k plus.   What the heck is that about?

America is still borrowing and with every qe the trillions of debt become worth a bit less.

You can keep borrowing forever  If other people let you.  If i print the the dollars to buy my own bonds to pay you and you accept them.   As long as the fiat dollar is an accepted international currency this can will be kicked down the road for as long as possible.

You missed out something,   It was debt + oil that saved america and the uk in the seventies.   Now we have Fracking and gas. Never mind the pollution and drinking water contamination... Drill baby Drill! And of course invade for oil and gas.

the german ability to confiscate businesses is impressive.

“There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.” 
― Henry Ford