Originally posted : TED Talk Please allocate just 10 minutes to listen unmissable video Why we need to rethink capitalism
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.”
…In all fairness, when I started writing this, I thought, “Oh wow, what does my company, what does Tudor do?” And I realized we give one percent of corporate profits to charity every year. And I’m supposed to be a philanthropist…
…Now, capitalism has been responsible for every major innovation that’s made this world a more inspiring and wonderful place to live in. Capitalism has to be based on justice. It has to be, and now more than ever, with economic divisions growing wider every day. It’s estimated that 47 percent of American workers can be displaced in the next 20 years. I’m not against progress. I want the driverless car and the jet pack just like everyone else. But I’m pleading for recognition that with increased wealth and profits has to come greater corporate social responsibility…
“If justice is removed,” said Adam Smith, the father of capitalism, “the great, the immense fabric of human society must in a moment crumble into atoms.”
INCOMESCO 
“At just capital we don’t know [what’s good for society or what harms the environment.]”
Sorry, this started out good but ended up being ‘just another scam.’ What’s “good for the environment” is based on science, not polls and what human beings need are human rights – those which guarantee human dignity. This cannot be decided through an “index” that can be bought and sold with impunity. It must be decided through serious discussions and deliberations by real people, inside their communities, ending with developing a serious framework for how to implement.
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Thank you Rasha, for stopping by and taking time for the comments.
Yes, you are right. How to protect the environment and reduce inequality are the biggest issue for the days coming ahead. We need to speak, share and participate on discussing such critical issue which endanger our future. But where and to whom! I think this World is not made only for the use and benefit of human; it is equally designed for all kind of living creatures. At least we can start, what do you think!
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You’re absolutely right. We need to talk to each other, unlike the past several decades, when talking was a one way street where only the mainstream media was allowed to tread. Its time for people to take control of our lives and our environments.
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That’s true. Regarding media, I mean- business oriented tycoon media house, are also sole business of private sector. That’s why they have their own profit motto and objectives. They need advertisement. Advertisement/donation is possible by the grace of super managers and big corporations. If they are run by the government obviously they have to support government policies. So people who supposed to speak must have their own network for the betterment of habitats.
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You nailed it right on the head. Habits are what make or break every one of us. We are what we do every day. We do what we believe and we believe what we see.
It used to be that our habits were formed by what we saw around us in our homes and in our neighborhoods. That changed with the advent of radio and the TV. Our homes and hearts were invaded by others, each determined to sell us anything and everything we need. Until they realized they could sell us something far more powerful – lies – to get us to believe that we need, always something else, something more, never what we actually need.
We all want to change the world, but now more than ever, I see that’s impossible unless and until we change ourselves – our habits are what make or break us. We must make it a habit to do what we need to do for ourselves and for our families, regardless of what we see around us.
We need to break our old destructive habits and the only way to do so is to replace them with those that are good for us and for humanity. It is then that our habits will be seen and adopted by others and only then that the world will begin to change because we are what we do every day. We do what we believe and we believe what we see.
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Thats true Rasha, We are divided for the sole benefit of their purpose. For an example lets take a word AUSTERITY. How opinions have been divided, How parties have been polarised, how we can judge good and bad as they are not unanimously agreed. One is saying it is good and other is saying it is bad, the more parties and parts the more we are divided. We are divided by medias too. Medias are not working how to unite the World. They dont insist to tell WE or US, they are encouraging to tell I and ME. Humanity is jeopardized.
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Through community and care there can be a solution. Let’s begin looking at a framework. What do you suggest?
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Thank you Baker for the comments and visiting my weblog.
Community- I think it is good idea. Well, what I am thinking is by changing whole course community should be activated and given more power. New course begins with WE not I/ME. The settings of the state/democracy should be changed in line with WE instead of PART, PARTY and I. Because party system is not suitable to tell WE. It is a kind of advocacy of part and party. We can see an example of austerity how opinions have been polarized! leaders are enjoying by dividing OUR OPINION, dividing us. If we are in the real mission of creating equal opportunity throughout the world we have to learn first about WE. ”I” is enough. This is obviously community.
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Politics. It equates to the choice pepsi and coke.
Has it not already been discovered they are one in the same? It’s just syrup and water. One view the same as the other side of the coin. They flippantly disregard the decisions and choices previously made leaving confusion for the masses fro those paying attention. The value system is where the disconnection lies. I am of the opinion that we are all the same, regardless of viewpoint.
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Thank you Baker for the thoughts.
Well, politics is a kind of polarisation policy. Politicians through an issue in the crowd and see where they are running. Confusion, Illusion ! Lets see some slogan ”Change We Can Believe In” Big Society” ”Austerity” what all these mean! but the result people have is inequality! What does it mean then!
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It means we need to get back to the foundations. A retrofitting of belief and value systems. While this does not mean bringing back the gladiator pits, we would do well to realize the thirst for blood resonates through the ages. From then to now, there must be an outlet for angst, frustration and a means to openly communicate. It means to play nice in the sandbox. Keep your coins, we want change.
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Yes you are right we want change. Specially people who are marginalised, pushed to every kind of poverty are unable to show their talent. The opportunity which are provided in these days is out of excess of them, more than half of the world’s population. This is not justice. The situation will be even worsening if nothing will be done. Thats why change we need. For that we need to trim discontents, I think so.
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Unite. Join me at SHAREverything.com – let’s pool our efforts and activity. Build a new ‘Facebook.’ One that’s powered by and benefits humanity. I know a guy who has an idea – a system of accounting that actually values and advances dignity for all life on earth and sustainability. but we must work together. He and I have entered into an informal agreement to join forces. Will you join us?
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Thank you Rasha. This is great opportunity to work through the ideology.
Let me share an example; even in education: academic institutions are allowed to increase their tuition fee and they are selling certificates at higher costs. If any one disagree with the decision the cases is judged in line with man-made law that is designed by the same group who want to protect their interest. There is no independent body who is able to protect the right of study of all student? This is hopeless condition for the poor. Justice is denied. Today’s intolerable inequality is state supported. Super managers are allowed to create discriminatory pay rate policy and gender pay gap. New settings of the state and democracy is needed because The World, now, is in transition of humanity. So change ”we” need.
Who are benefitted from the globalization will be resist for change and they are powerful.
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The beauty of both law and accounting, is that both are interpretations of systems. An informal agreement you say? Our words are still binding. We can be held to uphold our end of the agreement.
This means there is still hope.
You have the support of philosophers.
Namaste.
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Namaste Barker. Yes, you are right HOPE is biggest power. Lets keep hope.
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Reblogged this on An Atheist in Adelaide.
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Hello,
Thank you for re blogging.
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It’s a great speech… but words, as the saying goes, are very cheap. I wait, with eager anticipation, to see what becomes of this tiny spark of social conscience…
Will it catch on, and become a flame, that then goes on to inflame the whole or the rest of society with the same spirit of ‘moderation in exploitation’ – for want of a better, more accurate phrase – as I very much hope? (I realize this phrase is not only ugly but also that borders on the oxymoronic).
Or will it just be another hopeful, bright little spark that flies, eagerly and joyously up into the air only to be extinguished before it finds the fuel it needs to spread its message of hope, as I very much fear?
I gave it three stars… It’s a great speech, but words are cheap…
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Hello there,
Thank you for stopping by and taking time for the comments.
I am not disagreeing with you. The word GLOBALIZATION used to be very popular but now Inequality is seen and Globalization disappeared. This Intolerable inequality is the product of globalization. Now globalization has been discontented. There should have established a specialized organization to look after globalization globally but now it is messed, could not check inherited unequal income distribution of capitalism. I think there is no alternative of free market economy such as globalization but it has been discontented. I think so. Now the World desperately need check and balance remedy. Am right by the way?
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Hi…
Once upon a time I used to wear a T-shirt with the proud motto, “One world, one nation!” I thought it a laudable and noble goal… and indeed, any analysis of history shows the tendency of humans to agglomerate in ever-larger sodalities… and sadly also for these ever-larger sodalities to fight each other with ever more vicious and nasty and more and more lethal weapons… To such an extent that ‘Armageddon’ is no great feat of prophecy but simply a logical outcome of simple observation of historical and social process… But this also means that, to some extent the world WILL INEVITABLY BE globalized… it is ultimately unavoidable…
But the manner in which it may be globalized is not… the current method appears to be an attempt at unifying the world through violence… How this can possibly be expected to hold a whole world together is something only a psychopath can explain… as “What is held together by force can only be held together as long as that force is applied…” Not an appealing vision of the future from this perspective…
Now I’m more persuaded by the notion of a ‘Global Village’ than ‘one world, one nation’, which I now realize would inevitably be a global empire; most likely under the control of the Rothschild Zionists (And may evolution preserve us all if this is ever allowed to be the case!) and Imperialism, with its inevitable corollary, economic inequality (read ‘economic violence’) can ONLY separate and divide society into hierarchized ‘classes’ or even ‘castes’… and this inequality inevitably leads to much more violence because suppression ALWAYS generates resistance…
Thus, if the world is EVER to be unified, it must be done voluntarily, by all member nations/states… otherwise the word ‘unity’ will mean nothing.
This point is not without significance, because the present method is threatening to bring about that very ‘Armageddon’ I mentioned earlier…
I only hope I’m not the only person in this benighted planet to realize this!
And I hope that some of those out there who (hopefully) DO realise this, are in a position to be able to do something about it… The NWO = A Potentially nuclear WWIII and the significant probability of the extinction of our species…
You are right; we need something to ‘check’ and ‘balance’ the current situation… but the question is, “Is there anyone out there capable of doing anything about it?” I hope so… all I can do is try to spread the word… people are beginning to wake up… BUT… can we stop the NWO?
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You are absolutely right. I am agreed on ‘is there anyone out there above their own personal selfish interest?’ Probably there is not. So there is big gap of leadership too. ‘‘No one has reason to accept a scheme of cooperation that place their lives under the control of others’’ and ‘‘economic inequality can undermine the fairness of political institutions’’.
Finally you are not alone. There is big mass realizing these facts but they are waiting their time, I think. Another world is possible. Because people were not born yesterday- I think so.
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Thanks for those encouraging words, Jesi… I realise there are indeed a lot of people who are starting to wake up to reality… but if all they are doing is ‘waiting their time’ then we are doomed… We do not have time to waste.
I do so hope you’re right about ‘another world being possible… I guess I must believe it too, or I wouldn’t bother trying to fight for a better world than the one we currently live in… but sometimes it does seem like an impossible goal…
Even so… it is in the nature of human beings to accomplish what was hitherto impossible… Perhaps you’ve given me a little more hope than I had before so thanks once again.
And thank you for liking and subscribing to my blog at anatheistinadelaide.wordpress.com (I hope you won’t mind if I give it a little plug!) Here’s to the Evolution! 🙂
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Hello
Thank you too. I really enjoyed by having your constructive thoughts. I am learning. I am regular visitor of your posts as well.
Well, No one can block the way of change. If we believe on nature’s law change is always happen. But the problem is who we are responding such changes, How! for the sole benefit of me/I or we? We are spectators so leaders have to change their mind in line with ” for the benefit of us”. What I am seeing is party system does not allow them to say us.
Let me share an example; even in education: academic institutions are allowed to increase their tuition fee and they are selling certificates at higher costs. If any one disagree with the decision the cases is judged in line with man-made law that is designed by the same group who want to protect their interest. There is no independent body who is able to protect the right of study of all student? This is hopeless condition for the poor. Justice is denied. Today’s intolerable inequality is state supported. Super managers are allowed to create discriminatory pay rate policy and gender pay gap. New settings of the state and democracy is needed because The World, now, is in transition of humanity. So change ”we” need.
By the way, I didn’t find your name, can I call you- Astyages? Is that right?
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Hi Jesi… Sure you can call me Astyages if you like (or ‘Asty’ for short) or you can call me Dave if you wish… (“Call me anything you like… just don’t call me late for dinner!”) I enjoy your blog too…
I agree with what you say about the need for change in the world… and desperately so, too! I also agree about the ‘party system’… but the truth is most people haven’t even begun to wonder who ‘us’ is… they still see the world of humanity as divided into races, nations, tribes, localities, families… all of which are set AGAINST each other in an ultra-competitive, ‘dog-eat-dog’ system. Can it change? I hope so, but I’m not holding my breath. Greed appears to be such a large part of Human Nature that change in terms of financial inequality seems virtually impossible… However, species have been known to change within a single generation… and the threat now facing the Human Race (the ONLY ‘race’ that matters!) is extreme… one can only hope that since it is necessity itself which drives Evolution, that our species is capable of evolving…
What is so stupid is that our ultra-competitive lifestyle makes us extremely wasteful with scarce resources through the most stupid and couter-productive of all human ideas: WAR! When there could be plenty, if only we learned how to share with others; this is something our hunter/gatherer ancestors were far better at than we are, apparently…
As for ‘democracy’… well, I guess it’s hard to miss what on has never really had… but the totalitarianism the Zionist NWO has planned for the whole planet is, I must say, extremely unappealing. I’d rather struggle towards ‘achieving’ the goal of democracy, even if, like the mirage of water in the story of Tantalus, it continually recedes from us even as we advance towards it. It is always better to strive for some kind of equality than to give in to tyranny. We must do all we can, firstly to raise the consciousnesses of all our friends and relatives, and then to get them politically active!
We have been spectators far too long and that is what has allowed the current situation to arise: Too many people being unconcerned with ‘boring’ things like politics… too many people willing to just ‘go with the flow’ and not think for themselves… who are wiling to ‘leave politics to the professionals’… It’s not our fault entirely, because we have been dumbed down over several decades… hypnotized by the ‘one-eyed monster’… the Television… into simply accepting the ‘status quo’ and not concerning ourselves with what is actually happening in the world… and now we wonder why we are ruled (NOT ‘governed’!) by tyrants!
And now we face the imminent possibility of World War III and this is most probably going to develop into a nuclear conflagration… This is not because our ‘leaders’ are stupid, but because they are puppets and those people behind the puppets are immensely evil… Not only does the New World Order want to rule a global empire, but, in the same manner in which the ancient Spartans culled the Helots (slaves) when they became too numerous and presented a threat to the security of the state, the NWO plans a ‘Great Cull’ for the human species… If, as is the current consensus, the Georgia Guidestones are the guidelines of the proposed world under the NWO, then this means the population of the Earth will be reduced to 500,000…
How they plan to achieve this is hinted at in ‘Agenda 21’…
The desires and plans of the ultra-rich, the Rothschilds, Morgans, Rockefellers, Fords, and all the other hyper-rich families which form the “Illuminati’, MUST be resisted at all costs…
One of the best things to communicate to the people now is the fraudulent nature of the Federal Reserve Banking system; and how the Fed’s creation of money as debt, not only makes a GIFT of every single dollar that is brought into existence to these vampires (and thus yet another a gift to Israel to help its genocide against the Palestinian and Syrian peoples… as these ‘banksters’ are all dual-citizen Israeli citizens!) but also simultaneously ensures that we, and our children and grandchildren are ALL debt-slaves!
Then show people the movie, “Marie Antoinette”… Maybe they’ll get the message!
‘Bye for now, Jesi… see you later,
Asty
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Thank you so much Asty.
I have taken your words ”the world of humanity as divided into races, nations, tribes, localities, families… all of which are set AGAINST each other in an ultra-competitive, ‘dog-eat-dog’ system. Can it change?” I think who are benefitted from the globalization will be resist for change and they are powerful. But change does happen. Everything has alternative.
I have favorited a tweet of @peoplesNHSni that ”It would take a minimum wage worker 465 yrs to earn what #Barclays boss did last yr. It isn’t just the #NHS that’s broken.” So this the bitter fact we have. Yes, of course state can change it but there should be ideal-welfare state.
It is true that we majority low income group are ruled by fistful rich. What I believe is a hero in the film wear rags to represent poor can not understand the plight and pain of poor. That hero is wearing ‘rags’ and ‘poor’ to earn too much money to become billionaire! This is not the way of human beings and humanity.
Culture is sometimes constructive and sometime it is destructive as like matches. Culture has been a tool to divide the unity.
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Let the winds of change ignite the spark. Our collective passion is a fire split on a parched field.
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Wow how strong sentence is ” Let the winds of change ignite the spark. Our collective passion is a fire split on a parched field.” I have taken this sentence as a strong massage.
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Reblogged this on Psychopath Economics and commented:
“If justice is removed,” said Adam Smith, the father of capitalism, “the great, the immense fabric of human society must in a moment crumble into atoms.”
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