To add to
Maria's
account that
when I got here without passports
actually it was very nice
gesture on the part of the
Irish Government to arrange it because
they knew that i was
coming here
as a guest of
Amnesty International
to speak at a campaign they were conducting
conducted
condemning
the government for its
participation in the
globalized terror campaign
...airport
but they went ahead anyway.
You've seen the title I guess. It's a question;
'Can civilization survive
really existing
capitalism?'
In referring to really existing capitalism
I have in mind what really exists
and is called 'Capitalism', though
whether that's what it should be called is
another question.
And the United States is
the most important example for
obvious reasons.
The term itself, capitalism is vague
enough so that they can cover a
great many possibilities.
In fact,
that's illustrated by the fact that it's
used to describe the United States.
US economic system which 
deviates
quite crucially from
free-market capitalism, has indeed Britain before it
and in fact every other developed society
the only
societies that
could authentically be called
capitalism are the ones that had
free markets
rammed down their throat by
imperial powers, what we now call
the Third World, not
least for that reason.
It's
worth bearing in mind how
the scale all of the departures
of
really existing capitalism from
the official doctrine, free-market
capitalism,
...so...
keep to the United States. To mention
just a few examples,
in the past 20 years
the share of
profits
of the largest 200 corporations
in the United States
has risen very sharply,
partly as a result of the internet, which
was supposed to have the opposite effect.
It's having the effect of
intensifying the
oligopolistic
character of
the core US economy.
So...
In another sector are the largest banks,
with
trillions of dollars of assets,
have repeatedly merged to become still
larger.
By now the
six largest -the ones largely 
responsible for the
current global financial crisis-
they've even increased their assets from
18% of
gross domestic product 20 years ago,
to 63% today.
Oligopoly of course undermines
markets,
it leads
automatically to collusion to prevent
price wars which
competitors don't want
and to turned to mostly
meaningless
meaningless product differentiation
to try to
get people to buy their goods instead of
someone else's identical ones.
That's
done through massive
advertising.
Advertising itself
was a huge industry,
-marketing maybe is a sixth of
gross domestic product- It's explicitly devoted to
undermining markets.
Taking the economics course you know that
markers are supposed to be based on
informed consumers making
rational choices, which is not exactly
what you see if you turn on the
television set.
Creativity and
innovation
have also substantially been in the
public sector
not much appreciated
Turn to Alan Greenspan,
back in the days when he was still
revered as 'Saint Alan',
-That was before the crash-
caused by a small part by adherence to the
fundamentalist market doctrine city preached.
Back then,
in his glory days, he gave us
speech to editors
in which he stole the wonders of their
free-market system with
system free enterprise that
based on entrepreneurial initiatives and
consumer choice,
but the made a mistake. He actually listed
examples
Every example he listed was a
textbook case
of the crucial role of the state sector, 
all the way through.
There was actually on example which was
an instructive one in itself,
namely transistors
Transistors were developed at a
private laboratory, 'Bill Telephone Laboratories'
and the Lab was a great Lab
for a long time,
that's when
IT&T
had a government intrude monopoly
over telephone service
let's look at their...
imposed monopoly pricing
Had great resources that could use them to
establish a
terrific lab.
As soon as the
company was broken up
the..
lab had to be dismantled,
-still there but it's now
devoted to short term
applications for
the industry-
Furthermore,
the transistor development, it did
take place in the lab
was based
extensively on war-time technology
II World War technology, which
of course all went on the
state sector.
And there was no markets,
for high-end transistors
much too expensive.
so therefore the government bought a
100% of them
a procurement incidentally is a
major form of
government subsidy to
the industry action is a
kind of analog here in the
way the
core sectors of the Irish economy of
development,
construction,
services,
very substantially through government...
uh...
kind of procurement,
paying them,
paying them off to do things for which
there is no demand.
Saint Allen's speech incidentally was
a
at the same time
when he was
testifying to congress and soberly
explaining the
the wonders of the
great economy that he was
directing to great acclaim at the time,
which he attributed to what he
called
'growing worker insecurity',
and that is intimidating workers
so they won't make any
irrational efforts
to try to keep wages up to inflation -let
alone up to a productivity which
ought to be kept up to-
that's an obvious contribution to the
health of the economy under
really existed capitalism.
computers on the internet, in fact the
whole...
the basic components of the IT revolution
they were in the state sector substantially
 for decades
before they were handed over to
private companies for
marketing and profit.
That includes the
creative and innovative
research and development,
-subsidies procurement and other devices-
Again, very little role
for consumer choice and
entrepreneurial initiative.
At least in the
difficult and
risky
period, except for the
initiative in getting
government subsidy for
what you're doing.
And the same is true of much of a
high-tech economy
and it traces far back
-I think back to the early days of
English Industrialization-
In one domain, the financial sector,
the state intervention is notorious
and is expanded enormously, of course,
in the past generation.
In the United States,
it's hard to remember, but back in the
50's and 60's, during the big
growth period,
banks were banks
put your money in them, lent money to
some
presumably useful purposes, that was it,
no interstate banks,
no financial crises.
That changed in the past generation
and now
their
firms devoted to
complex and risky transactions
and they
have grown enormously
in the US at the time of the crush
2007. They had risen to 40% of
corporate profits.
The way they can get away with this
is because they
rely very heavily
on a government insurance policy,
tacit insurance policy,
informally is called 'too big to fail'.
That provides the biggest banks with
great advantages.
The scale has been roughly estimated
by economists at maybe 40 billion dollars a year or so.
However, the recent study by the IMF
that indicates that that may be a
considerable
underestimate or
I quote the business press
reporting the study
says: "Perhaps the largest US banks
aren't really profitable at all
and their billions of dollars they've
allegedly earned for their shareholders
were almost entirely a gift
from the US taxpayers
in a variety of ways.
Including bailout, but many other things
like cheap credit.
That's more evidence to support
a judgment by the
the most respected financial
correspondent in the
english speaking world, Martin Wolf
of the 'London Financial Times'.
He describes...
what he says is that "an out-of-control
financial sector...
"...is eating out the modern..."
"...market economy from inside,..."
"...just as the larva of a spider wasp..."
"...eats up the host in which it's been..."
...laid". It's an observation with a
certain grim resonance right here.
And it is thanks to the
lavish contributions of the taxpayer
unwittingly to
maintaining this
destructive system.
The term capitalism is also used for
many other systems
and it's sometimes used for systems that have no capitals at all,
like the
great 'Mondragon
conglomerate' in the Basque country,
or the workaround enterprises that are
springing up in the
decaying
'Rust Belt' of the United States
And some might even use the term
capitalism to include
some version of the
industrial democracy that was advocated
among others by
John Dewey, American leading
social philosopher last century.
He called for
workers to be -in his own words- "masters of their own
"...industrial fate,..."
"...and for all institutions to be under
public control."
including
the means of production exchange, publicity, transportation and
communication.
Sure of this,
to be concluded, "politics will remain..."
remain
"...the shadow..."
"...cast by big business over society...".
His major work,
some of you know, was on democracy
and that was
his conception of democracy.
And he was condemning the
truncated version of democracy that
really existed.
By now it's been left in tatters
much worse than what he described.
By now,
control of the government -I am talking of the
United States but not
very different elsewhere-
control of government is
very narrowly concentrated at the
the peak of the
income scale.
The large majority down below were
effectively disenfranchised.
That's
preached pretty well
by mainstream political science.
One of the major topics is
investigating the very rich poll data
so you know what people think and of
course you can take a look at policy and
you can compare them.
And the recent research at the
mainstream estimates that
the lower 70%
on the income wealth scale,
that have essentially no influence on policy
so they are effectively disenfranchised,
Influence increases slowly as you move up the
rest of the scale meeting at the very top
to get what they want.
There's always been a lot of truth
to that
but it's increased enormously.
Now, during the past
thirty-odd years of the
neoliberal
period -really, an assault on the population,
very harmful
everywhere that it's been applied,
suffered from it here-
The
current
political economic system is
actually a form of plutocracy,
or the misleading call it democracy,
diverges
radically from democracy if by democracy
we mean
political arrangements in which
what the public
thinks has
some influence on
policy.
Now, there have been serious academic debates over the years
about whether
that capitalism is in principle
consistent with
democracy, but
if we talk about really existing capitalism,        the questions are answered.
Certainly not,
really existing capitalist democracy
for short
RECD, you can pronounce it 'wrecked' if you like.
they're radically incompatible,
that's easily demonstrated.
For reasons to which all return,
it seems to be unlikely that
civilization can survive
the really existing capitalism in the
sharply attenuated
democracy that
goes along with it
and an important question is whether
actual
democracy, functioning democracy,
might make a difference
Well, it's
hard to speculate about non-existent
systems but
the same reason to believe that it would.
So let's just
keep to the most critical,
immediate problems that
civilization
faces,there's plenty of them, but this is
the
primary one:
'Environmental catastrophe'.
Policies and
public attitudes
differ
quite sharply
in the United States, that's commonly the
case under
RECD, but
strikingly in this case
which is
an issue of the
last issue of the
Journal of the
American Academy of Arts and Sciences,
which
goes into this
To read some quotes...
The researchers found that
a 109 countries
have enacted some form of policy
regarding renewal power
at a 118 countries
have set targets for renewable energy
In contrast
to this hundred plus,
the United States has not adopted any
consistent
and stable set of policies
at the national level
to force the foster of the use of renewable
energy.
Now, that's not public opinion,
that's
not driving policy off the international
spectrum,
quite the contrary
The public is much closer
to the global norm
than policy is
and much more supportive of actions to
confront the likely
environmental disaster that we're
facing maybe not
too far off could be
lifes of our grandchildren.
Here's what the researchers found 
on the same issue:
"Huge majorities of the public..."
"...have favoured steps by the federal
government to reduce the amount of..."
"...greenhouse gas emissions..."
";;;generated when utilities produce
electricity."
"In 2006,..."
"...86%t of respondents..."
"...favoured requiring utilities, or at least,
encouraging them with tax breaks..."
"...to reduce the..."
"...amount of greenhouse gases", they admit.
"Also in that year, 87% favoured..."
"...tax breaks for utilities that produce
more electricity from..."
"...water, wind..."
or sunlight."
and these majority said...
they've maintained up to the most recent studies
very sharply different from policy
I just quoted.
Well, the fact that the public is
influenced by science
is deeply troubling
to those who dominate the economy
and largely controll the state policy.
That's very interesting current
illustration of that.
There's an organization called
ALEC, the
American Legislative Exchange Council,
it's a
corporate funded
organization that
writes legislation that they
try to induce
states to adopt.
They have a new
program, is called
"an Environmental
Literacy Improvement Act"
It's a...
The act is
intended for
schools, kindergarten to 12th grade.
"Under the act", a man I'm quoting now,
"the act mandates balanced teaching
"...of climate science,"
through this years,
balance teaching is a code for...
that means teaching climate change denial
in order to balance
mainstream climate science.
It's analogous to what's called a
balanced teaching that's advocated by
creationists to
enable the teaching of
creation science in the schools
and in fact legislation based on this
Act are even introduced by
the number of states.
ALAC' has plenty of cloud because of its
enormous
corporate funding behind it.
Of course, all this is dressed up in
rhetoric about
the wonders of
critical thinking, of that
fine idea of the...
You can think of a better choices than
an issue that threatens decent survival and
by accident happens to contribute to
corporate profits.
The ALAC legislation is
based on a
proposal or project of the Heartland Institute,
that's a corporate funded institute
that is dedicated openly
to rejection
of the scientific consensus on
climate change.
The institute project is called
cold
"calls for a global warming curriculum".
for K-to-12
classrooms
it aims to teach
that there is a major controversy over
whether or not humans are
changing the weather,
and in fact there is a controversy
regularly reported in the media.
On one side you have
the overwhelming majority of
scientists,
all the world's major
national academies of science
all the professional science journals
the IPCC,
the intergovernmental,
panel on climate change.
That's one side. They all agree that
global changes
global warming is taking place.
There's a substantial human component
that the situation is
serious and perhaps dire,
and that very soon maybe within decades,
the world might reach its tipping point
where there's nothing to do about it.
The process will begin to escalate
sharply and will be irreversible,
very severe,
economic and
social effects
It's
pretty rare to find the
consensus of that nature on a complex
scientific issue.
Now ,there is another side: consists of
skeptics,
including a few
seriously respected scientists,
who caution correctly that much remains
unknown,
which means
it might not be as bad as anticipated,
or it might be worse,
only the first part is reported.
And then omitted from the contrived debate,
altogether
is a much larger group of skeptics,
so highly regarded
climate scientists.
It happens to include the
climate change
group on
my own University, MIT.
and they regard the regular reports of the
IPCC.
as much too conservative.
And they've been repeatedly
proven correct unfortunately,
but they're not
part of the public debate,
although they are very prominent in the
scientific literature.
Well, the Heartland
Institute and ALAC
it's one part of a
huge campaign
by corporate lobbyists
to solve doubts
about the near unanimous
consensus of scientists,
that human activities are
having a major
impact on global warming with
possibly ominous implications
and there's nothing hidden about the
campaign, it's quite public.
It's been openly announced that includes
uh...
of course the
major lobbies of the
fossil fuel industry. It includes the
American Chamber of Commerce which is
the major business lobby
and others.
The efforts of
ALEC and
famous coach brothers, you probably read
about them,
however fraction of what's underway
is a great deal more which is concealed
in complex ways.
Every once in a while something leaks out.
There was a
story in the London Guardian recently, by Susan 
Goldberg.
She finds that
"conservative billionaires..."
"...used the secretive funding route..."
"...to channel nearly..."
"...$120 million in the last years, to more than a hundred groups..."
"...casting doubt about the science behind
climate change,..."
"...helping to build a vast network of 
think-tanks,..."
"...an activist groups,..."
"...who are working to a single purpose;..."
"...to redefine climate change..."
"...from neutral scientific fact..."
"...to a highly polarizing 'wedge issue'..."
"...for hard-core conservatives."
And the propaganda campaign has
apparently had
some affect on him
public opinion in the United States,
which is a little more skeptical than the global norm, not much...
but the effect is not significant enough to
satisfy
the masters.
That's what you have
sectors of the
corporate world that are launching
their attack on the educational system
in an effort to counter the
dangerous
tendency of the public
to pay attention to
the overwhelming
conclusions of scientific research.
Couple of months ago there was a
meeting of the Republican National Committee
I've read about it. One governor
Bobby Jindal of Louisiana,
warned the Republican leadership, in his words,
"we must stop being the stupid party,..."
"...we must stop..."
"...insulting the intelligence of voters."
But ALEC's corporate sponsors disagree.
They wanna go much further,
turning it into the stupid nation
and they're doing it for quite principled reasons.
These are rooted in the East,
central institutions of RECD.
One of the dark money organizations that's
funding
climate change denial is a group
called
'Donors Trust'.
It's also a major
contributor to
efforts to deny
voting rights
to poor blacks in the United States, poor generally.
There is a good reason for that; it's
perfectly sensible.
They tend to be
democrats.
If you look at their attitudes, they even tend
to be social democrats
-welfare state measures and things like that-
They might even go so far as
to pay attention to science.
On like those who are
trained properly in critical thinking by
the uh...
balanced teaching
and
these
these efforts direct attention to
another aspect of RECD which is quite
important:
Roughly half of the population in the
United States doesn't vote
and if you look at the non voters
it's skewed towards the
lower end of the
income scale,
heavily in fact,
and overwhelmingly they identify themselves as
democrats.
And their attitudes tend towards
social democratic.
There has been no serious inquiry into
why they don't vote.
Probably one reason
is that many barriers that are
placed on their way - these are modern versions
of
the old poll tax and other devices that were
designed to keep the rebel in their place-
but it's likely that one reason is that
without studying the professional literature
this is known that their opinions don't matter,
even if expressed in the ballot box,
so
why take the trouble?
Well, turning to the most serious threat to
decent survival...
Of the major science journals,
regularly give a sense of
how surreal
is this corporate campaign
to produce
a stupid nation.
So take science, the major
scientific weekly in the United States.
A couple months ago I had three items
side by side, news items.
One of them reported that 2012
was the hottest year on record in the
United States -that
continues along trend-
The second report of the
new study by the
US Global Climate Change
Research Program (USGCRP),
which provided additional evidence for
that rapid climate change is the result of
human activities. they also discussed
likely more severe impacts...
And the third news item
reported the appointments
to chair the committees
on science policy
that were chosen by the US house of
representatives.
Now, the house of representatives is
overwhelmingly republican
They are the votes for
they are also overwhelmingly democratic.
Last election was
striking, that's another
consequence of the shredding of the
political system.
Well, there are three chairs, all three of them
deny that humans contribute to climate.
change
Two deny that it's even taking place.
The same issue of the journal has a
technical article with
new evidence that the
irreversible
tipping point
may be
much closer than anticipated.
that was followed a couple weeks later
by another important science...that
underscores the need
to ensure that Americans become the
stupid nation.
This report provides evidence that
uh...
even slightly warmer temperatures, less than
anticipated,
could start melting permafrost
which in turn could
-it's well known- could really
trigger the release of huge amounts of
very dangerous green house gases,
worse than
carbon dioxide which are trapped in ice.
So it's best to keep to
balanced education.
At least if you can
face the grandchildren whose lives are
destroyed.
Well, within RECD (Real Estate Career Developers)
it's extremely important as any
institutional necessity
that the US become the stupid nation,
not misled by science and rationality
in the interests of short-term gains of
the masters the economy and the
political system
that's uh...
not easy change because it's built into
the institutional structures aside
after these same people who are
making these decisions
in their individual lives may be a
contributing to environmental groups
now that you can read the science
journals as well as anyone else
but in their institutional function
they're bound by the structure of the
institutions
which again makes it
very hard to change in explains why
policies like this are necessary
and the drive for stupidity goes
well beyond climate change
so federal funding for
the fundamental
or indeed research and development
uh... has have been dropping sharply
as a share of
g_d_p_ is compared with other countries
the editor of
science meeting science journal in the
u_s_
he describes the government is d range
sacrificing
tremendous future benefits
on the altar of
short term profit
and uh... delusions and they are
delusions
about uh... dead
which are driven mainly by the financial
institutions uh...
and watches in europe protects even more
severe than the united states
that these commitments are
deeply rooted in the
fundamentalist
doctrines fitter preach
within
wrecked although observed in a highly
selective manners you look closely
but given a couple of examples
because it's also necessary to push to
preserve it
very powerful state
to serve
the interests of wealth and power
economist dean baker calls a
conservative nanny state
well 'cause beyond this
and the market fundamentalism has
a number of
built-in
anzac quite well-known hurdle interiors
effect
so one which is not discussed enough
is that market fundamental mahlet
pretends to
expenditure issues
sharply restricts them
so for example of
i think it
the home home from work i can
of choice in the market as to whether
by uh...
cleo tyler
chevy absurd
but i can't choose
between buying a car
public transportation system
that's not a choice that's
opening principle
in a market system
it's uh...
requires collective decision making
and that's not an option
that's an effective tool
undergrad
with the pattern of democracy it's
diminishing option
you can see the consequences
so for example you can take a
high-speed train
in beijing
to kazakhstan
and will probably soon go away a turkey
can take a high-speed train
in the most
heavily traveled
carter in the world
the northeast corridor in the united
states from boston
to washington
effective trains there
barely faster than they were sixty years
ago when my wife and i
first record
ambassador
natural
aspect of it
uh... of rectum
religiously capitalism with them
tattered democratic system
now there are uh...
and also what are called love
market inefficiencies and uh...
professional literature
uh... one of them series one is
probably will not get to flip um... mary
economics text
is uh...
though the failure to
that take into account the effect on
others
in a market transaction
trickle externalities
of these extra dollars can be quite
substantial
two that's even true simple transactions
a month
individuals
who would you move on to major
institutions
where they become huge
in fact the current financial crisis is
an illustration
avi
it's partially traceable substantially
traceable
to the no ring of what's called
systemic risk
that is the risk that if
uh... some
and down some
the risky transaction has taken place
maybe the whole system will collapse
most of the uh...
that's not a new discovery incidentally
fifteen years ago
the height of the euphoria about
efficient markets
there were two
prominent economists one
and which one american john equal and
last taylor
but they're an important book
global financial risk
at which they spelled out the
consequences
of these market inefficiencies
and uh...
dire consequences were no living with
another one
we were should come
uh... and uh... they suggested names to
deal with them which of course the
disregarded
uh... there's a
well another
international economist at dictated
felix
this morning about this for
measures
ever since then
livers lation liberalization of capital
in this
seventy
now he's been warning that the
increasing frequency of financial crises
there during the period of financial
liberalization
could terminate him and uncontrollable
one
and had good arguments for
factors plenty of evidence that was
beginning to happen
but these forces work on her during the
corporate sponsored in
deregulatory rage with incidentally the
intellectual backing
theses
efficient markets and
rational behavior
at no empirical basis but where
proclaimed with great confidence
i was in the economics profession
between every two
market collapses
uh... the
minutes of the federal reserve the u_s_
central bank
which are released
after five years
that's quite an open society dealership
learn a lot about what's going on
they've just released the uh...
to two thousand seven transcripts of
many interesting reading
to zone so whole system was crashing
and that here's a group of
very distinguished economists and uh...
major banking
system professionals
they couldn't see
that the huge
housing bubble
which is based on no economic
fundamentals by then had reached
eight trillion dollars
meaningless paper money
uh... that it was happening
there's nothing in the transcripts to
recognize words
happening before their eyes
anja good reason
this of religion
now the religion is
market fundamentalism
uh... it preaches that uh...
markets are efficient
and investors are rational
and so what's happenin can't be
happening
so therefore we
march ahead into the next disaster
well after they
predicted disaster
occurred there were a few people
connected
leading economists
again right in the mainstream reported
what they called an emerging consensus
on the need for
macro production will
macro prudential supervision
a financial
markets
now that is paying attention to the
general stability of the financial
system
and not only its individual part
too
international economist stated that
uh...
there's a growing recognition
within our financial system is running a
doomsday cycle
whenever fails
we rely on wax money and fiscal policies
to bail it out
so this response
teaches a lesson to the financial sector
large gambles
get paid
handsomely
and don't worry about the cost
uh... because they'll be paid by
taxpayers
and the financial system is those
resurrected they say to gamble again
and to fail again
now the worst each time
vita
official of the bank of england whose
responsible for
financial stability after that
later crisis described it as a doomed
loop
there is legislation being considered in
the united states city called the dog
frank
suppose put
and that's on the shorter students are
very deep
but hits
as always being whittled down by
armies of corporate lobbyists
who are not counter
there are no
lobbyists for the public interest under
for the banks
and uh...
thread likely that much will come a
legislation after they're done with it
uh... so will march onto the next time
probably the worst crisis
spin a regular occurrence of over the
past thirty years ever since reagan in
the united states
uh... and uh...
one ninety four
no crises before the
because the new deal regulations written
plays and they were capital controls
international financial
flows up until nineteen seventy
incidentally under armor for all which
still exist
it's now forgotten but they are in fact
been instituted again
most recently in cyprus
to try to overcome though
latest european catastrophe under the
suicidal policies of
uh... austerity during stagnation
which fail
miserably every time there
apply it although failures of
misleading word because
they were quite well for the designers
of the policy
this fail for them
people several people that's a
significant fact
match is an interesting
booklet that just came out in united
states uh... published by the
economics policy institutes that major
source of
regular economic data about
the state of
economy and working people
mother partly pass what's called failure
by design
uh... the reviews the policies of the
past
odd years
neoliberal period
and they review them
i won't give the date of the reviewers
familiar from
what's happened to the public over this
period
normals
tremendous concentration of wealth
way at the top
tenth of one percent uh...
stagnation or decline for
large majority
deterioration of relatively weak benefit
systems and so on
uh... and uh...
the the hapless called failure but this
time
but they point out that the uh... design
because they're always world kind of
policies
well known ones
uh... but they point out that your class
best fitted
for the designers simpson tasks excess
richard ben
imaginable
and doing better all the time oregon's
disaster that come out better
corporate profits for example
uh... at record highs in the united
states to
corporations are so much money they
don't want to do with it
who invested because there's no demand
but
slifer financial speculation which
and the banks are bigger and richer than
before the crisis at the cost
so its failure by design and class based
failure
and privilege century of europe
he careful when
people talk about this is
failed or is it just did suicidal
policies
well there's a far more serious example
of the dangers and ignoring
externalities
and the ones that are dismissed two m
footnote under
fundamentalist market fundamentalist
doctrine
and that's been environmental
to hear the
extern ality that's ignored
is the fate of the species
and in this case
there's no one to run to
cap and a half
to be bailed out
taxpayer can help on this one
uh... well these consequences have very
deep groups
incorrect and its guiding doctrines
uh... which also
dictate that the masters will make
major effort
escalate to threats is another quite
aware of them
uh... can institutional
uh... that's one reason and not the only
one
white seems
quite unlikely that civilization will
the survive correct without serious
blows
twelve months
fica
if there are
historians in the future
there may not really
but if there are
they're going to see uh... they look
back on this period
we're going to be a very strange
phenomena developing under arrives
with our eyes open
the world is
marching towards
serious disaster
no secret
factor there
predicted in front of it
either of course uh...
efforts to counter
they vary
and the very end an interesting way
of the most uh...
far reaching efforts to counter the
crisis
uh... are found in
uh... pre industrial societies
were called primitive societies
who have the benefit of education
uh... indigenous societies in
travel-size first nations and so on
and the
most strenuous efforts to escalate the
threats
are in the most advanced most educated
richest and most powerful societies
take the western hemisphere
ecuador which has a large indigenous
population
and as an oil producer
uh... undertaking effort under the
pressure of the
indigenous population
uh... to get support from europe
which but surely won't be a
to leave the oil in the ground where a
lot of the
and uh... turned to other forms of
growth and development
the poor uneducated indigenous societies
the bolivian woods uh... even bigger
indigenous populations waverly
internationally
doing something about this
uh... then you go to the other extreme
well norris
united states and canada
there are racing madly
to try to get the crisis to be is a
rapid in as extreme as possible
now that's what's called the everyday
enthusiastic uh...
euphoric reports about a
century of energy independence
there which are all of the newspapers
including the financial newspapers and
of both political parties agree uh...
it's really a great thing gonna have a
hundred years of
energy independence by
trying to get
every drop of
fossil fuels
out of the ground
including
things like canadian percent switcher
extremely damaging to the environment
moved in local and in fact global
environment
but we don't do that
and the energy independence is almost
totally meaningless
so we have to make sure that
crisis is quick combat as possible
uh... all of these uh...
before
discussions
uh... gupta
uh... don't mention
raised the question what's the world on
a look like a hundred years somebody
else's business
within
you don't asked that question
well that's
the scene in that uh... future
historians will
seus
there is one to look back
that it will be a very striking one
and uh...
it's up to us actually to decide if that
scenarios what happened
terry and
