The 99 Percent Economy: How Democratic Socialism Can Overcome the Crises of Capitalism

This talk will present the main themes from Paul Adler's forthcoming book "The 99 Percent Economy".

We live in a time of crises — economic turmoil, workplace disempowerment, unresponsive government, environmental degradation, social disintegration, and international rivalry. Adler's book argues that these crises are destined to deepen unless we radically transform our economy.

He argues for a democratic-socialist alternative. To overcome these crises, we need to assert democratic control over the management of both individual enterprises and the entire national economy. To show how that would work, Adler draws on a surprising source of inspiration: the strategic management processes of some of our largest corporations. In these companies, the strategy process promises to involve and empower workers and to ensure efficiency and innovation. In practice, this promise is rarely realized, but in principle, that process could be consolidated within enterprises and it could be scaled-up to manage the entire national economy.

Standing in the way? Private ownership of society's productive resources, which is the foundation of capitalism's ruthless competition and focus on private gain at the cost of society, the environment, and future generations. Adler shows how socialized, public ownership of our resources will enable democratic councils at the local and national levels to decide on our economic, social, and environmental goals and on how to reach them. The growing concentration of industry makes this socialization step ever easier.

Paul S. Adler is Professor of Management and Organization, of Sociology, and of Environmental Studies at the University of Southern California. He holds the Marshall Business School's Harold Quinton Chair in Business Policy. He began his education in Australia and moved to France in 1974, where he received his doctorate in Economics and Management while working as a Research Economist for the French government. He came to the USA in 1981, and before arriving at USC in 1991, he was affiliated with the Brookings Institution, Columbia University, Harvard Business School, and Stanford's School of Engineering.

[fleepbloop]

Lol all the comments here against socialism are literally addressed in detail in the video. Psst, you're making it too obvious you commented but didn't actually watch.

[nthperson]

The challenge of all thoughtful persons is to come to the proper balance between rights to property and the protection of human rights. Out of many years of study, the "ism" I find best achieves this proper balance is "cooperative individualism". In the design of socio-political arrangements and institutions the just objective and just outcome ought to be to secure and protect individual liberty within a cooperative societal framework. Privilege, hierarchy and monopoly are the enemies of cooperative individualism. There is a long list of thoughtful writers who over several centuries offered and supported their views on what is necessary for such a society to be established and maintained. One of these writers, the American political economist Henry George, is shown here as the image associated with this post. If you have never heard of Henry George or read any of his works you owe it to yourself to do an online search about him.

Since 1932 there has been a Henry George School of Social Science headquartered in New York City. From that time until the late 1960s, the school was expanding all across the United States, Canada, and several other countries. Unfortunately, as an adult education program that did not meet the criteria for the granting of degrees, the Henry George Schools lost the ability to attract credential-seeking students who began to attend local community colleges and other state-supported institutions. New York City has been an important exception, and the school today offers in-class courses as well as online lectures and courses over Zoom.

I have served on the faculty of the Henry George School for many years. Recently, I completed a lecture series on the history of money, banking and credit. Beginning in September, I will deliver lectures on "Henry George, Karl Marx and their followers." This series of lectures would, I suspect, be of some interest and value to those of you who think of yourself as socialist in your political, social and economic perspectives. Those of you who embrace individualist perspectives may find some clarity with Henry George's treatment of rights of property as compared to that by Karl Marx. These lectures are offered free of charge but you must register in advance through the school's website.

Edward J. Dodson, M.L.A.
Director
School of Cooperative Individualism

[timothycurlee]

Two really good books worth reading : " Viking Economics " George Lakey " Utopia for Realists " Rutger Bergman

[dickscott]

A retired physician I found collaborative input in decision making for improved technique works. Top down commands dont

[seaotter]

Probably needs a better PR campaign and call it something like Social Capitalism, Capitalism 2.0, Democratic Capitalism etc.

[charlesashurst]

It's difficult to find the words to express how much I hate the idea of working for the mother of all megacorporations. For one thing, it takes "too big to fail" to a whole nother galaxy.

[rogbrogb]

Search Einstein's 8 page "Why Socialism", not hard reading!

[TeaParty]

Capitalist Crises-a one second delay in instant gratification. This does not happen in socialism (or the Garden Of Eden).

[thoughtsurferzone]

Interesting concepts, but the caveat here is automation, particularly molecular nanotechnology. As a technodemocrat, I'm more interested in a future socialist system that severely lowers the amount of labor citizens will need to perform. Most "jobs" are toxic to human nature.

[ivorypoet]

"The crisis of capitalism" which has brought more people out of poverty than any system in history. Whereas socialism has failed EVERY time in history. SO lets put the word "democratic" in front of it and hope it changes it. The manipulation and conditioning has been amazing. The evil, is predictable.

[lowrydan]

Coercion. Central planning. Works great, right? (Queue Stalin documentary.)

[annieb]

BASIC ECONOMICS by Thomas Sowell explains how and why government planners cannot adequately manage the economy. The invisible hand of the free market works, that's why the United States has the strongest economy in the world. This guy is yet another mastermind.

[pzoe]

Take away the rmotive for going to work then nobody does and the system collapse, genius.

[redalertwagers]

Something tells me his ideology got his eye blackened

[nthperson]

The right response to socialism, or communism, or anarchy, or fascism, or monopoly privilege (i.e., what we too easy refer to as "capitalism") is found in the writings of Henry George. Remove all monopoly privileges from the systems of law and taxation and the result is cooperative individualism: full equality of opportunity, full individual liberty, within a cooperative social framework. To paraphrase Adam Smith, the role of government is to ensure that a fair field with no favors exists. Markets operate efficiently and fairly when none of the participants enjoys privilege. Few understood better than Henry George the true nature of privilege and what must be done to remove all forms of privilege from our socio-political arrangements and institutions. Of these, he counted "rentier" (i.e., landed) privilege as the most destructive to the
promise of democracy.




Edward J. Dodson, M.L.A., Director


School of Cooperative Individualism

[godswatching]

The problem is that good people do not seek high and never ending power but the evil people in this world do. We can not ignore the fact this project usually starts out great then a person or group pushes up the ladder to power And focuses on control and wealth at the expense of the people. Communism sounds great but i fear if it dosnt work out then does our empires ever go back to the level of wealth and power to the original position.

[sparksj]

I havent watched this but I will say that we dont have capitalism in the US. It's much closer to fascism so why not try capitalism? If it doesn't work, we can hand it to the elites and try democratic socialism. Capitalism worked up until we became fascist, 1913

[uddek]

Enjoyed the presentation. I have zero interest in socialism, but it does have some strengths... in theory. These questions though... what does it do for gender equality? For racial equality? What about reparations? What the fk? These are your only questions? Really?

Giving kudos to Greta was the only strike I had against the presenter.

[listener]

A thinker in the grand tradition of Marx.

By which of course I mean someone who has never labored or produced who imagines he can understand and easily replicate the processes of those who do. Never once pausing to think that such methods succeed because they are superior to their competitors. Imagine in another decade he could be aping Ford and, should his ideas prevail, we could all be working an assembly line instead of listening to this lecture.

Thanks again you are my favorite comedy channel. It only makes it funnier that you think what you do is education.

Shout out to the fellow who gave him a black eye. Look brother I understand it is easy to beat these little weasels. But it is better and more fulfilling to laugh at them. I startled a co-worker laughing at some of his stupider ideas.

[lukeskywalker]

19.45 minutes I made it to! Imagine coming from the same country as this bloke and having him representative of the great minds of our country. Count me out, his thesis as far as I can see is, capitalism is dead, it's failed, let's not even discuss it even though it has been the great driver that has improved life for every single human on the planet, some more than others sure, but still ALL are better off than previously. Look look, we know socialism has failed every single time and always ends in tyranny. Don't trouble yourself with that silliness, let's make socialism work, let's start by copying capitalism and employing some of the innovative ideas that come about when people are free to think as they choose, let's take that and control it, choke it to death and if it doesn't work we can blame capatalism, the level of intellectual delusion and ideological bias is