SGMF15 – Dr Michio Kaku on Perfect Capitalism

A snippet of Singapore Management Festival 2015 keynote speaker, Dr Michio Kaku on the new economies of the future – Perfect Capitalism. Who wins and who loses? Watch to find out!

TRANSCRIPT
But what does it mean? We’re building up to something that I call –
Perfect Capitalism.

So what is Capitalism? Capitalism is private ownership, where prices are set by supply and demand. That’s it folks. One of the greatest inventions of modern history. That’s it!

BUT Capitalism is imperfect. When you buy something, you don’t really know how much people are cheating you. You don’t know how much things REALLY cost. You don’t know how much the competition is like. In the future however, when you walk into a store, your contact lens will scan all the products and tell you who has the cheapest product; who’s cheating you; what the profit margin is. So it means in a society where things are cheaper, things are less expensive, things are more convenient because information is SEAMLESSLY, seamlessly being transferred.

Now if you are a producer, how will you fight back? You will fight back because you will know everything about your consumer through

1) DATA MINING

2) BIG DATA

3) TARGETED MARKETING

4) BRANDING

This is how you will fight back as a producer under perfect capitalism.

So perfect capitalism, well, lets’ be frank about it, it has winners and losers. The big loser is – Middle Man

Middle men are going to be driven out of business by the thousands…

[matthewsteenburghen]

That's good, middle men are almost half the price of price increases from the source is those that distribute the products.

[Fabrikoooo]

They out you in jail and TAKE OUT YOUR CAR if you go against what is establish by force.

[Fabrikoooo]

The complexity of social systems requires a technical area understood by EVERYONE not vague political notions of ideologies.

[ignaciobazan]

Middleman is... workers, and more important... customers, perfect capitalism without workers and consumers, well, it may work... but what to do with approx 7 billion people without jobs and without money to buy? (that are not necessary at all)because they cannot sell anything at all in this system, the system is doomed as it is

[chonrie]

Lost on this one. No one would want to air their goods. Unless they could undersell. Say you see a music box, at 10 dollars. With a merchant number you buy for 3. So the item probably cost 1 dollar. Thought capitalism is: I own the make, so my distribution, will be at a set price, for sale at stores at a set price.

[chonrie]

Ooops! Guess mine is mixed up with communism. Lol. Have to stop researching Russia. 😁