BSRS 2022: Capitalism, Inequality, and the Myth of Catch-Up Development (Jason Hickel)

Comments · 28

• TH

  @ThisIsToolman · 2 years ago

  This is the best analysis of capitalism that I’ve seen. It affirms my own intuitive understanding.

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• JO

  @jonlaban4272 · 2 years ago

  A story well told<br><br>We need story tellers like Jason that have the ability to &nbsp;get new ideas and ideologies into the mainstream

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• VT

  @vthilton · 2 years ago

  Sharing will save the world.

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• TO

  @tomringa5883 · 4 years ago

  This is a gem

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• VE

  @VelhaGuardaTricolor · 1 year ago

  <a href="https://www.youtube.com/watch?v=lhhgRXYJsZ4&amp;t=157">2:37</a> Start

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• JI

  @jimr5855 · 4 years ago

  One thing for certain, the climate change policies being promoted by wealthy counties will inhibit development in the developing world. &nbsp;The most fundamental resource is access to energy. &nbsp;If the wealthiest countries of the world were to lose their access to reliable energy, their &quot;wealth&quot; would plummet.

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• EV

  @evodevo69 · 3 weeks ago

  This reminds me of V.Lenin&apos;s analysis. Hickel has no idea, or maybe he does, how significant of an impact this has made and is making.

• BA

  @balahort · 2 years ago

  Excellent lecture Jason! Thanks for sharing this and this is one reason I treasure the social media, because I could access this powerful knowledge. <br>To Jason......very true...<br>...but then capitalist are everywhere, even in developing countries who have captured the State or run the state by crony capitalism serving themselves and the Global North. Leaders or elites in developing countries are not angels (Public choice theory) and one proof is poor spending in human capital (Sen&apos;s capability approach) from their budget, which IMF and World Bank are not stopping, at least now. So, how to deal this? Even for effective social mobilisation or revolution to happen we need basic mass education and health. If these are not provided people will be forced to buy them and supply votes just to live. Why not a new structural adjustment movement in North for development or investment in human capital in south?

• AC

  @Achrononmaster · 4 years ago

  @<a href="https://www.youtube.com/watch?v=lhhgRXYJsZ4&amp;t=2460">41:00</a> critical mistake here. Governments do not <i>need</i> foreign currency if they issue their own. They pay the price in the exchange rate, so they <i>must</i> float the exchange rate and allow the pass-through price adjustments. Who then domestically &quot;pays the price&quot; can be fairly distributed so the workers don&apos;t get hit hardest. That requires governments being disciplined to force the pass-through inflation hit entirely upon people who already have the most savings. If they are disciplined that&apos;s a good thing, since inflation supported by keeping the lowest real wages on parity psychologically encourages savers to spend, which helps drive production. &nbsp;<br> &nbsp; &nbsp; &nbsp;It&apos;s all about handling the inflation from forex pas-though well, you let inflation go through, but control it by boosting the minimum wage and tax off the top end of town, but using automatic taxes, no hikes, just a progressive rate. &nbsp;If you do it well, your country&apos;s rise out of import dependence is inevitable, provided no one attacks you in some economic or other warfare (UN Articles aught to prevent that, but ask the people of the Donbas... the UN is not doing that so well).

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• AC

  @Achrononmaster · 4 years ago

  @<a href="https://www.youtube.com/watch?v=lhhgRXYJsZ4&amp;t=1430">23:50</a> rise of equity in the global south is not necessarily &quot;inherently inflationary&quot; for the global north. &nbsp;It depends on the currency monopoly (government) in the global north. &nbsp;They are price setter, not price taker. &nbsp;The dynamic is that of a relative price adjustment, the extracting industries go down, the domestic producers go up. &nbsp;If the extractors have more political power then the effect would be inflationary, which the exploiters fight to reverse through imperialist tendencies and economic warfare. &nbsp;If domestic producers have more power then the government can choose to support domestic workers wages and the real inflation from the loss of income + goods from the global south, which turns into a mere nominal inflation, a currency regauging, which does not hurt the poorest in the global north (the &quot;consumer basket of goods&quot; their incomes can purchase is unaltered). The relative prices then adjust &quot;correctly&quot; which is to say <i>morally</i> in the proper direction.

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• SY

  @syujengchyang · 1 year ago

  <a href="https://www.youtube.com/hashtag/notantigrowthframework2025">#NotAntiGrowthFramework2025</a>

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• RO

  @robertdude4725 · 3 years ago

  Hi Jason, I was wondering why you have not offered a critique of Jordon Peterson and Bjorg Lomborg&apos;s claims about how best to address climate change and the plight of the languishing nations. It sure would be a worthy project--given the amount of air time their ideas are getting.