Paul Tudor Jones II: Why we need to rethink capitalism | Forex
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Paul Tudor Jones II loves capitalism. It's a system that has done him very well over the last few decades. Nonetheless, the hedge fund manager and philanthropist is concerned that a laser focus on profits is, as he puts it, "threatening the very underpinnings of society." In this thoughtful, passionate talk, he outlines his planned counter-offensive, which centers on the concept of "justness." TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at http://www.ted.com/talks/paul_tudor_jones_ii_why_we_need_to_rethink_capitalism Follow TED news on Twitter: http://www.twitter.com/tednews Like TED on Facebook: https://www.facebook.com/TED Subscribe to our channel: http://www.youtube.com/user/TEDtalksDirector
Comments
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Just remove the governments and income/corporate taxes, have an indirect tax to fund programs. Remove regulations that are stopping me and you from building businesses and competing against the big guys.
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True story. One of the greatest traders and a humble human being. Oh, and for those questioning what his solution is, go back to the part about mania. Its gone on a year longer but the time is now approaching.
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When corporations are made to pay compensation, to account for economic externalities, then the profit motive will be aligned with the interests of the larger society. Earning profit is only associated with harm because we allow some costs to be externalized. If industries pay fees when they put pollution or deplete resources, then they will try to reduce impacts on the environment. Seeking profit will be synonymous with trying to reduce harm to the environment. Profit-seeking behavior and community interests will no longer be at cross-purposes.
When proceeds from pollution fees are shared equally, no one will live in poverty. No one will be forced to accept a meaningless job to avoid becoming destitute.
Equal sharing of Natural Resources promotes Justice and Sustainability:
http://gaiabrain.blogspot.com/2011/06/golden-rule-and-public-property-rights.html
Systemic flaws are not reported:
http://gaiabrain.blogspot.com/2011/08/systemic-flaws-are-not-reported.html -
Yaaawesome!!!+++
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No explication of the alleged solution? Vague vagueness much
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video quality maxed at 240p... seriously...?
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He dismisses a very serious solution; higher taxes. Why not?
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I don't want to fix capitalism - I want it to disappear into the hole of feudalism it crawled out of...
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Just one problem with Mr. Tudors "Just" proposal. It would require the people to be well informed, something (the press) that is more and more in the hands of corporations ......
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What a bullshit. The USA are a socialist country where the citizens pay and the corporations get the benefits. Worse possible country except for the ones committing the fraud.
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Seems like justice and profit can't really resolve into each other, to make a profit you have to take out of a situation more than you put in. If this is a transaction between two agents that have radically different values then someone might be psyched to get a rubber duck in exchange for an island. But most of our values are sufficiently similar as to infer that the majority of the time someone'll be losing out, in the short term through a degree of desperation or the in the long through ignorance. The only other endevour would be to just take from the earth, but the earth only makes sense to be owned by everyone or no-one (without revelation what gives anyone claim over one patch more so than another? Even claiming heritage leads to Reductio ad Absurdum because we all share a common ancestor somewhere down the line) so you're taking away from them. Corporate Transactions with people or the world have a big impact and for them to profit, it seems manifest to me that there must be an injustice somewhere.
Unless they're profiting from solar power i guess, because that's the only resource we top up daily... -
The problem with such an approach would be how do we keep the "Just Index" really just ? Absolute power corrupts absolutely, and if we give power to decide the fate of the companies to any organization, what would prevent the organization from misusing this power.
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absolute BS, skip!!! no wonder is in low res.
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Let's be honest. This man has accomplished more than any of you ever will and has used a significant portion of his funds to support people. That said, you should all listen closely to what he has to say. Duh
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Limousine liberal
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Corporations should not be taxed, nor expected to donate to charity; that should all be done at the individual level.
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This is why we need to elect Bernie Sanders. See facebook groups "Revolt Against Plutocracy" and "Bernie Believers."
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The biggest problem with this talk is that it starts with a faulty assumption - "Incoming equality isn't a good thing"
Income inequality is a great thing, it means that people can be paid relative to the value that you represent to someone else, if someone puts more effort into making themselves more valuable as an asset then they're compensated for that effort. The opposite of income inequality is income equality which uses violence and aggression to steal what other people have peacefully earned and give it to other people. Capitalism is the most moral system we have for rewarding work, it doesn't take any violence at all. -
I like the idea of conducting bushiness in accordance to public essential demands for health, sustainability and social mobility. Even though the self promotion, i really hope that Pauls just project result in some constructive data.
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True capitalism is survival of the fittest, which in reality is better for humanity as a whole. Incompetent companies are allowed to fail, those that produce the best services survive and constant competition fuels constant improvement. Capitalism is dead, and has been for quite a while. Large corps are continually subsidized by governments, and take a look at the 2008 bank bailouts. We are essentially paying for the idiocy of over-leveraged banks, and now they are bigger than ever taking more risk and we cover their downside. Kill bureaucracy, let every man and every corporation be responsible for their own actions. People throw around words like "capitalism" and "free markets", they dont exist. US treasuries are the best example of a controlled market - interest rates (i.e. the return for loaning money, which should be priced in according to risk) is priced by central banks because they have unlimited money to fix prices in so called "open market operations". THey are kept artificially low and we are building an even greater bubble.