How Did America Go “Adrift?” Scott Galloway Explains | Amanpour and Company
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- Опубліковано 2 жов 2022
- While the current social and economic crisis in the United States seems complex, our next guest believes it can be fixed. Marketing professor Scott Galloway examines the future of the country in his new book "Adrift: America in 100 Charts." He joins Hari Sreenivasan to discuss the implications of a shrinking middle class.
Originally aired on October 3, 2022.
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Amanpour and Company features wide-ranging, in-depth conversations with global thought leaders and cultural influencers on the issues and trends impacting the world each day, from politics, business and technology to arts, science and sports. Christiane Amanpour leads the conversation on global and domestic news from London with contributions by prominent journalists Walter Isaacson, Michel Martin, Alicia Menendez and Hari Sreenivasan from the Tisch WNET Studios at Lincoln Center in New York City.
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People don't realize that the disillusion that led to a Trump presidency stemmed from the disappearance of the middle class. I'm from the rustbelt & people around here work VERY hard & they've long seen the returns on that "sweat" investment diminishing. It's nice to see economists (other than just Robert Reich) talk about what we've all been seeing for decades. And when the powerful ignored the plight of the majority of the population, that population lost faith in our leaders. A lot of them felt like Trump was an outsider who actually cared about them. Of course, they were wrong. Trump only cares about Trump. But, it was that disillusionment with everyone else which gave Trump an opening. So, ultimately, if you want to end Trumpism, you need to actually hear what the would-be-middle-class has been trying to tell Washington for decades.
Many would say it started with Reagan. Never convinced he was an empty suit, the middle class was decimated, they questioned nothing
Build back our middle class. Get rid of the Know-Nothing Obstruct-Licans.
As Warren Buffet says….don’t use a spoon. Use a bucket.
@@RickMartinUA-cam Great information. We’ve got to the message out, people are not better off, and the death by a thousand financial cuts is real.
.....Or it could just be just plain old racism and an overreaction to the first Black US President???? 🤔 🤔🤔🤔🤔🤔🤔
They won't do anything about this because both sides are in their pocket. The system was designed from the get go to advance the wealthy and powerful. Liberals make a mistake when they talk about the system. They think this is a bug and not what it really is which is a feature.
How does this explain their continued support of him? I think they liked something else about him other than his economic, international or health care plans.
A stable healthy middle class is vital to having a thriving society.
In a capitalist system
@@clenke0 Any system . . . think.
@@robertsmith5744 not all systems have classes.....read.
Yeah but America is a classless society....bwaaahahahahaaa!!
@@clenke0 All systems have classes. Name one that doesn't. Name one country that is classless.
Reagan and others like him giving tax cuts to wealthiest and legal rights to corporations have brought about the breakdown of social care for each other.
I graduated from California without student debt before tax cuts killed public college support.
Same here.
@Adam Jacobs But it was Reagan that started the meme that gov can’t do anything. In fact no one can do anything it is all down to the all powerful free market. This is the key legacy of his presidency. Clinton didn’t address that. He just managed the economy. Once Obama can along the Republican’s had mastered the art of stopping any meaningful change. Cementing Reagan’s legacy.
@Adam Jacobs ok and?
Reagan kept effective tax rates the same on the wealthy. Tax revenue as a percentage of GDP has remained the same for several decades. College tuition is outrageously expensive because of government-guaranteed student loans. Abolish that guarantee and the tuition will plummet back to an affordable level.
@Adam Jacobs Ronald Reagan solidified the end of unionization for employees. He also gave wealthy Americans a windfall of tax breaks and the prosperity of the middle class sharply ended over the decades that followed.
He had the most economic downturns of any president in history! Still does! It’s not a Dems v. Republican thing is it? It’s not for me. For me, it’s historical truths. We need to get back to the truth and leave our ego at the door if we are going to survive as a republic.
I am glad someone is finally getting these issues out in prime time. Thanks Scott Galloway. Excellent interview. Thank you.
Agree but there are plenty of other voices on this topic that are intentionally left out by establishment media. Chris Hedges is a great example.
@@christopherpaladin213 uh, Bernie Sanders???
With 32K views as of this post, I would hardly call this "getting these issues out in prime time". Maybe they need to start posting this stuff on a Kardashian web site or include a video of a cat doing something stupid with it. I watch these types of inciteful videos all the time and take note of how many people are actually watching this kind of content and it is only an extremely small fraction of the population. The viewership of good information seems to be inversely proportional to the quality of the content. I think the UA-cam algorithm needs some adjustment for the sake of this country's future.
@@CarterQuillenP.E. So very true.
@@CarterQuillenP.E. "With 32K views as of this post..." Interesting. I'm viewing your comment a day after you posted it. My computer shows 320 views. Three hundred twenty, not three thousand two hundred. Did you make a mistake? If not, WTF is going on?
Companies would rather spend their money on stock buybacks to artificially prop up their share price for bonuses instead of investing in R&D.
Yeah doing it for bonuses should be regulated but there’s nothing wrong with buy backs in principle. Not every company needs more R&D. Returning capital to shareholders means they can put that capital at a company that does need R&D.
Yes, and the R & D are funded by the American people and they should see a share of that wealth when the final product is then privatised. It's as if the government has been allowing corporations to steal the wealth of the American people since the 1970s.
greed of the mega rich is drastically reducing the middle class.
And it's so shortsighted. How will they continue to enrich themselves if the people they're stealing from no longer have any money to steal?
Their aversion to paying taxes is legendary.
Avarice = Mental disturbance.
Hello beautiful lady you look sweet, where are you 🥰?
@@kt-df2ww Is this Tinder? 😂
Galloway is pretty much right on, but when he says that SS is a transfer of wealth from younger to older generations, he neglects to say that this is because Reagan and Republicans pushed 401K’s over corporate pension programs in the 1980’s and have destroyed the pension system that used to work so well. Now, the elderly rely on SS much more than they used to as most middle class retirees have no other sources of income and cannot afford to live just on their SS paychecks. 401K’s have been a disaster as most Americans have no idea how to manage their pension funds. And after paying into SS for their full working lives, older Americans have to get a return on what they paid out for some 40 years. The problem with SS isn’t the elderly withdrawals, but the lack of taxation on the wealthy and corporations to help pay these system costs.
Sincere thanks for your comments. I caught that as well. He's setting up a fight between young folks and the elderly when none of this nonsense is either of their faults. The lack of pensions changed everything.
As a genXer I am deeply concerned about the reality of the viability of social security. I have been paying into SS for 36 years, but the funds to pay me and my generation have been dessimated by the federal government "borrowing" funds that have never been repaid.
@@pookahdragon5850 There is no solvency issue in SS if they increase revenues into SS. This is a Republican ploy to scare everyone to privatize SS, like they did with pensions. It's BS. That's why I no longer vote Republican. They live on fear and misinformation. This is from the SS administration that explains that the problems aren't because people are getting older, but because birthrates are down and there are fewer worker paying into the system today. With proper adjustments through taxes, etc. SS revenue is projected to rise well beyond 2085. But if we keep cutting taxes, which is the Republican mantra, then it will go the other way (as will all government programs including Medicare, Medicaid, Education, etc.) and have a deficit by 2035. Only vote for those who believe in strong government programs: www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html
Blithely skipping over essential facts is a Galloway specialty. It's distressing to read the comments and see how many people are charmed by this self-promoting professor of shilling.
@@samuelglover7685 does his book not go into depth on his themes or subject? I hope your comment comes from knowing more about his work than this 1 book or his interviews.
He is so right about the disastrous effects of scientifically-refined rage marketing on our rage-addicted, increasingly misinformed, increasingly stressed, financially insecure populace. Those who have figured out how to profit by setting us at each other's throats will turn out to have been the most devastating and successful cabal of enemies to ever walk among us -- the elderly Australian fascist being the worst of the lot but still only one of many.
Great summary!
Yeah, to be fair I think Murdoch has poor tools but is deliberate in his spread of misinformation. While the social media guys have much more effective tools but are causing carnage by accident. Let’s hope the two don’t ever overlap.
Except, the social media guys are not causing carnage by accident. That is what Scott was referring to when he talked about how rage inducing content hooks us due to how humans are wired. The rage inducing content draws us in and keeps us engaged. The longer we’re on a social media sight, the more money the company makes. The algorhythms are programmed for profit.
Nobody's manipulating that much. People are just naturally stupid. It's the truth. It will be a miracle if we survive another millennium.
A literal miracle.
The story about a king and queen looking over their castle wall and seeing their subjects fighting with each other, caused them to smile. Why? They felt safe as long as their subjects were fighting each other, and not coming after the king and queen.
About as sane an approach as I've heard. The shareholder class will fight every attempt to rebalance and rehabilitate our society as we continue to accellerate the march toward a planet that is inhospitable to human existence.
Well spoken. In the end the shareholders class I’ll gotten gains won’t be worth a tinker’s dam when or if this society collapses due to climate change.
This is a great synopsis and SO on point!
Makes no sense, if you have a 401(k) or an IRA then you are the shareholder class. If you don’t have a 401(k) or an IRA yet then you will in a few years.
This is the artificial dichotomy of “rich” versus “poor”.
Very few young people have assets.
Another attack on the wealthy. The laziest populist cliché possible.
Scott Galloway is amazing. Talks straight, logical and reasonable. I am not religious, but I thank God for the American government every day, and for the dedicated people who work for us. 😊
I love how direct he is in saying "my profession, my generation, my business field, and my tax bracket are fucking over everyone else. This isn't working for everyone else, we need to change this." Very refreshing to get honesty and solutions!
That must be why he thought that Michael Bloomberg should be president. Galloway's always been full of $hit.
YES! Pop culture romanticizes going to college. But as a US college professor I would guess that at least half of all college students in the US are better would have been better off going to learn a trade (vocational training). I'm not saying the Europe is perfect, but it has got that part right.
So many students are “late bloomers.” Aside from the imminent collapse of society along with climate change calamity, most people are living longer. Ideally, we’d have a gap year followed by an affordable liberal arts education before classifying everyone.
@@kayzyr9442 Absolutely! That way we have more paths open to people, respect for trade schools, and more time for kids to decide what is best for them (unlike in Japan and some parts of Europe where it's done well before the end of high school). I grew up away from Europe and missed out on my year of social/military service, but there is definitely something to be said for 'finding yourself', especially if it's also while doing something constructive for society.
Right on!
Corporate America and the stock market have ruined our economy and they need to pay for it.this bs about we can't afford social welfare and programs when we give more money to them
@@kayzyr9442 why a gap year? We have many top high school students who are ready to start college right away and undergo that learning process right away, don't waste their time. And we don't make any final classification. A tradesperson can go back for an academic degree starting part-time at affordable community college, and meanwhile he or she has learned and practiced a real skill, not a "gap year".
The downfall started and continues w/ Reaganomics and the trickle down theory of economics. Next time you see a homeless person go shove a bunch of money in a rich person's mailbox and see if it helps a poor person.
So true, and. once Reagan fired all the air traffic controllers, which they were sure wasn't going to happen, it became a free-for-all on labor unions. Once a huge part of the middle class, they don't exist anymore. Amazon recently fired 50 unionized employees because they wouldn't work inside a warehouse on fire.
Oh BOY!
I seriously believe this has been the agenda in this country longer than that. The rich have been manipulating their control for hundreds of years in this land.
There is no 'trickle down theory of economics'. Trickle down is a populist political slogan and not an actual theory of economics.
Get a real education. It's the best medicine for inequality.
I couldn't agree more with the idea of engaging in a meaningful way with people of different cultures. What did it for me?... I worked as the Broadcast Manager onboard the cruise ship Crystal Harmony for 4 years, sailing around the world and working and living together with staff and crew members from 40 countries. I can't tell you how much that changed my life and outlook on the world. Best thing I ever did. :)
hm, so you think that what works for like minded, sane, logical people from diverse countries will work for irrational, illogical and insane people in the US? LOL good luck with that.
Is experience still the best teacher?
That would be very interesting to read about.
@@jimperdue6166 It is, I believe, but it’s anecdotal, isn’t it? I have more varied experiences & know it taught me a lot more than people I’ve known who have less experiences, ie, living in & visiting many cities around the country, but living 3 different states in the West & moving around in them; haves changed jobs & learned various professions, & not working my way up in any of them; a handful of times being in love with men different from each other; experiencing deaths of loved ones from which I sought learning from & from what emotional & psychological affects they had on me.
@@carolhernon2811 I think "wisdom" comes from intellect and experience. Book learning is great, but w/o real world experience, it's value is limited. I learned this on the job when recent college graduates were hired and they thought they knew more than those of us who had doing the work for years. Most of the time, they came to value our experience.
As a college professor, I can speak from experience: everything he is saying with regards to how we should overhaul higher education and create more accessible avenues to alternative opportunities like apprenticeships is dead on correct.
Just spoke with a friend who said her son applied to FIFTEEN colleges. Safety schools, geographically different schools versus home, likely acceptance, reach schools like UCLA. Thirty years ago I applied to two and was accepted. One in state, one out.
This is because of exclusivity but also because there are modern systems which allow students to click-to-apply to additional schools. So just like on Amazon, a lot of the friction or hard work of filling our forms, has been reduced to one additional click, to apply.
Same here in 1976 when I was applying. Applied to two colleges, both here in San Diego.
Yeah, acceptance rate (accepted/applied per college) is mostly a function of how many colleges each student applies to, not of how hard it is to get in. More interesting is which fraction of applicants overall gets into college.
All true, but what suggestion does he have? UCLA is crowded past the breaking point already. Not everyone can go to UCLA, and you don't need to, to have a solid undergrad curriculum in most fields. What we don't need is the fluff fields that don't lead to useful skills beyond what's common sense or easily learned on a job.
He’s ignoring demographics. GenX is the smallest cohort. Universities had empty seats throughout the 80’s, so acceptance rates were high.
Key word: accessibility. Give citizens “accessibility” to higher education and a career path and they will reach for it. Great discussion!
He subscribes to following your talent rather than your passion.
R. Fyffe:
It needs to be realistic accessibility. If disadvantaged people can't see themselves as being able to take advantage of academic and other opportunities leading to high income work, then they won't try, or try hard enough for long enough and in the most effective ways.
They need detailed instruction on choosing the best potential career fields for them, the type of education to get them there, how to prepare for excelling in middle and high school, and later, college or any other educational route, and the extensive insider information about college, planning, starting, and running a successful business with expansion potential, and-yes- social skills, plus so much more vital information.
I know this is true. Many socioeconomically disadvantaged people have told me this. 💔🇺🇸
Problem they don't want those people to have it.
@@MH-be6hr What is a "disadvantaged" person? Who is that?
@SR: Read it again. He said “socioeconomically disadvantaged” people.
I just read Evil Geniuses The Unmaking of America by Kurt Andersen and it goes into detail of how and why this has been happening. It was the conservative response to the freedoms of the 1960's and a very enlightening book.
Yes neoliberalism came out of the 1970s as a response to the politics of the 60s and the antiwar movement and captured the Republican Party with Reagan. But did the book explain how the same ruling group captured the Democratic Party in the 90s with Clinton? That seems to be the part that mainstream Democrats are confused about.
Yes..go to the Library ..
Chapter 10..Raw Deal..1980s..
"Excess of democracy" 1960s according to those who didn't like it.
Excellent interview of one of the smartest professors of our times.
Who thought Michael Bloomberg would be the best choice for president. Right. Galloway's major talent is hyping himself and his inane books.
Are you kidding? That doofus actually said "the US government is the most noble organization in history." I went back and listened to him again to make sure I heard right. There are lots of people in other countries who would dispute that ridiculous claim.
Best guest in a long time. He tells the bitter truth about the hidden, and Black Magic results of social media.
Yes, an admitted capitalist speaks the truth. Doesn't get much better than that.
Universal health care and universal mental health care would go a long way to relieving stress on the American people so that we can focus on rowing in unison.
Agreed. But also, mental health practitioners aren’t magicians. By and large it’s the structural ills of society causing mental illness.
I agree that we need more mental health care. But also we need to stop manufacturing people who have mental health issues. We need to be more proactive and less reactive.
And pursue our true talents. So many people, myself included, have to take a job that makes us miserable and does not align with our true talents, in order to receive healthcare. Sadly our politicians are bought and paid for. Career politicians needs to end. Biden, like him or not, has been owned for many decades. He received more campaign $$$$ from Big Pharma than any president in the history of our country. We need term limits and $$$$ out of politics.
@@mtmg3648 i feel for ya, but between Biden obama and pelosi, no three people have gotten more people healthcare then those three. Not bernie, not McConnell, not anybody. Sad maybe, but the only party standing in the way of universal healthcare, right now, is the entire Republican Party.
You communist. I'm joking but anyone advocating universal health care is so easily shouted down with accusations of communism and the general populace go along with it.
Man, Scott Galloway has a lot of good ideas.
His ideas are not necessarily new but Galloway is really good at connecting the issues, trends and facts in a more positive way. I have long felt or known most of what he is saying but could never in million sick days on a computer make that much sense of it.
Right?!! I like how pragmatic and optimistic he sounds. It’s a breathe of fresh air!
Ideas yes, But no platform. How about running for office and putting his head on the block like Trump did for all of you leftists on the site to blame him and Reagan instea of the Global society New World H Bush and cronies are responsible for
He really does! I just bought his book. This is the kind of person, American, thought leader I want to support 😊
Hey, I am a senior I only earn $ 1125.00 a month which is my social security and a tiny little pension. I spend everything on groceries and rent. A friend gave me a deal on rent, or I would be in deep trouble. I stopped taking my medications , they probably were not good for me anyway. Maybe 1 was helpful. I only took 2, thank heaven. I don’t have a Primary care doctor, They stress me out. I go to minute clinics. They treat you with respect. There are many like me out there. But I am grateful for what I have.
Galloway says you're a looter and a deadbeat. Consider the source.....
Glad to hear you appreciate what you have. But you deserve more after a lifetime than just making it by. We should do better as a whole.
At your income bracket you are eligible for Medicaid along with your Medicare which will allow you to pay very little for your drugs and all your medical needs. You should not forgo your needed meds!
I am an American retiree in Southeast Asia. While Social Security may be a huge wealth transfer to the older generation it is curious to see so many of them seeking to live outside the US because that SS doesn’t amount to much and America has become unaffordable for them.
We’ve been told for decades that SS is not a substitute for saving for retirement. A lot of people didn’t get the message.
I agree. My mother cannot even make ends meet with her social security.
It was enough for grandma…until going to a nursing home. Ate up at her savings, insurance, home equity etc.
The age should've been raised decades ago.
Same here. I retired at 66 but calculated I would have to work until age 75 to live at the same level we now live in Thailand.
Excellent interview - these points are all dead on. As an early Gen Xer, I never quite understood why America shunned the age old notion of mentorship of the next generation and switched to exploitation, but I experienced this throughout my career. Galloway mentions how barriers were set up using education as a hurdle instead of a launching point, but there is another aspect to this as well: Certifications. I find it stunning how many certification have been created in the last fifty years which do nothing but prevent people from easily switching career tracks. There was nothing quite as frustrating as interviewing for a job (which I was overqualified for to begin with), only to be barred entry due to some obscure certification. Also, I totally agree with his point about Americans treating each other as the enemy. I am floored to regularly see (especially right wing) people who have nothing but hate towards their neighbors, while simultaneously believing propaganda from a proven tyrant (Putin).
I hear you but I hesitate to guess who hates who more. He stated that 54% of democrats would not let their children marry a republican. I’m sure that stat is higher than the other way around. My son-in-law refuses to even become friends with his next door neighbors who are the same age and have child same age as his because they are republican. By the way, my wife and I know the neighbors and are friends with them and they are super nice.
@@objectivetruth2286 I think the whole topic is too simplified. Of course, most people are friendly at a one-to-one level. But we are at a point as a country where we can easily descend into a messy, unofficial civil war - in no small part because of the Republican strategy to win no matter the cost, for their bottom line: to keep the wealthiest wealthier. The GOP should have imploded by now through sheer numbers of people who are not among the wealthiest. But half of America hasn’t figured that out yet; instead, they’ve bought into the rhetoric of the Republicans’ most powerful tool: Fox News and its ugly stepchildren on social media. To Dems, especially since the events of the past 6 years, people have to *want* (in some conscious or unconscious way) to believe the falsehoods they hear. They’ll get fired up about some fabricated “war on Christmas,” for example. They’re getting some twisted satisfaction from it. Deep down, whether they know it or not, they are likely ruled by fear and/or greed and/or racism and/or misogyny and/or just plain gullibility (at best). And that’s why Dems don’t want their kids to marry them. They can’t- or won’t- wake up to reality.
Really strong points here.
More great content from Amanpour and Co.! This is such important information, I'm glad someone is airing it. Hari Sreevnivasan is an excellent interviewer. I always enjoy his work.
Hello beautiful lady you look sweet, where are you 🥰?
Amanpour is a Socialist. A mixed message by Galloway
we need more public intellectuals like prof Galloway, calm and insightful with some hard data
My suburban school system is obsessed with academic programs, awards and prestige. In the meantime, the behavior problems are rampant and so is depression in the students and parents.
And that’s exactly the problem. They’re causing our country extreme long-term damage. What will help is if each of us don’t fall into this thinking and frankly express your thoughts otherwise amongst your friends and those people you’re close to.
So do you think the most academically advanced, who rarely get in trouble, are causing others to misbehave? Are those others mad that some kids are better in academics than they are? They'll have to come to terms with it and find their own areas of strength. For some it will be trades, not academics. Maybe we should have more tracking so that a bunch of the kids in the HS don't get so frustrated, because we must not hold some kids back to soothe the rest.
This guy is great, he speaks intelligently about real problems. Keep going, Mr. Galloway!
As someone getting older (thirty-one) I will never understand “closing the door” on the people behind you. I go out of my way to help and celebrate the success of the younger generation- I feel pride in them succeeding…. Damn shame more don’t feel the same.
Very bright guest. We need more in media to pursue these issues discussed.
One of the most intelligent and valuable conversations I've heard in a long while.
Why is it so rare to hear a good speaker in this country? Is it that hard? Or is there some sickness in the culture? All I see on tv is Kelly Clarkson re runs when I turn the TV on. It really is a horror.
@@kenbranaugh8251 Several things are going on in the U.S. simultaneously. First, we are a well-trained population but an undereducated one. Starting with Generation X (me), we've been taught to push buttons, compute numbers, and inventory trinkets but not taught to think, which accounts for the second problem: political "leadership" - lol. Our political representation reflects us: overly simplistic, singular-minded, and fearful. We aren't voting for well-rounded thinkers because we're not that. Our politicians desire status and money; hence they're more interested in taking $$ from corporations and political PACs versus doing what is best for their constituents and their country. Finally, we're a relatively young country compared to many others worldwide. You would think (no pun intended) that we would look to past histories of other nations to learn and do better. Nope. So that's that. One thing about human nature, though... once we hit rock bottom, we tend to course correct, but we must endure a lot of pain before anything like that happens. I honestly don't know what or where our pain threshold is in this country, but we're about to find out.
A regurgitation of populist tropes about the rich. It's a lazy argument, nothing intelligent about it.
Brilliant. Accurate. Hard hitting.
Scott is the man! Excellent interview and points! No doubt that we need to reform our education system to provide affordable, equitable access to education to young people. A country cannot afford to have uneducated, frustrated, disheartened citizens who have so much to contribute to society. An educated person contributes to society rather than burdens it. It is the unremarkable citizen like Scott who in the end surprise us and become remarkable.
Completely agree! An uninformed, undereducated or uneducated (bc we’re not doing a good job of educating people who migrate here, which Germany is good at) is a citizenry that can be manipulated, exploited and are subject to being steered by populist leaders in the wrong direction. Further, undereducated people typically vote against their own interests bc they don’t understand what they’re voting for and how their government works. Not good for us.
It already is affordable and accessible. But not all the colleges are called UCLA, and he thinks everyone should go to UCLA, or something.
WOW! who in the hell is Scott Galloway and why is this guy NOT a leader in this country? I think i am completely in love and in awe!
The US economy is likened to a tree, put the value into the roots, apprenticeship, skills training, and the real value of people like teachers, and the tree springs to life. Top load the tree by allowing all riches to be at the top, the tree falls over.
People need to find ways to excell, as carpenters, as workers, as other occupations outside IT. Not everyone has an interest in computer coding.
Value the productivity with appropriate wages, starting at $23/hour for "unskilled" work. Actually there's no such thing, but it's a labor market box.
Capital gains should be taxed, especially over a certain threshold, so that money will go to better schools and teachers so the country gains a bett future.
Top heavy trees fall down, break, frequently die.
Thomas Sowell
Fantastic analogy!!
In 1971 I walked out of High School into a UNION sawmill job in the Pacific Northwest. On day one, I earned as much as most teachers were paid. I had full healthcare paid. Full dental. Full eyeglasses paid.
The difference between 1979 and today ??
Is in the number UNION JOBS that went to Japan, Taiwan, then later China, India, and Mexico.
REAGAN destroyed my UNION, fully 120,000 workers lost protection. Lost the POWER that dictated the region I grew up in.
The billionaires that own the timberlands and Sawmills ascended while workers descended into mandatory overtime, no senority rights. Wages evaporated along with healthcare. And even more disturbing, the Rise of Psycopathic Bosses. Bosses that would have been fired OR never been promoted because UNIONS wouldn't tolerate it. Without unions the workplace is run on fear, brownosers elevate . Corrupt morals flower. Backstabbing becomes an art form.
Milton Friedman ECONOMICS was the broom Reaganism used to SWEEP away social democracy that created the ONLY American-golden age- 1938 thru 1979.
We imagine greatness even as the monopolists cut us up into pieces of hate, envy, militarism.
The internet crushes SOCIAL DEMOCRACY....with simpleton rhetoric ❗
Only the Rise of UNION POWER will tilt the scale back to fair pay, healthcare, and senority protected job.
This u.s.a. is a cesspool compared to the 70s
Absolutely correct. Corporations do not pay their workers a fair wage and can get away with it. Sadly, most of these union jobs were in manufacturing, and they hardly exist in the US anymore.
Before blaming everything on Baby Boomers, note that seniors are the only age segment that experienced an increase in poverty in 2021(USA Today). Almost 6 million seniors live below the poverty level.
Just a small price to pay for the rich to get richer.
Great to hear solutions and good ones!
lot of great points I haven't heard anyone else make
USA was ALWAYS adrift! Difference is, we an ALL see it now…….
I would argue that between 1950 to 1970 USA was on the right tracks. But then again you can say every country in the world is adrift. All human governments are doomed to fail as we as a species are really bad at predicting the future. Not to mention learning from our own mistakes as a collective.
@@dribrom so you think that not allowing blacks to have full rights and launching an illegal war in Vietnam, along with many covert and deadly CIA actions in Africa and South America, including killing the President of the Congo, deposing the Shah of Iran, and interfering with an election in CANADA - your f*ing friendly neighbours to the north - is all on the right track? My guess is you’re not much of a student of history
@@dribrom I would argue that 50 to 70 was Korea and Vietnam. Hardly on the right track…. But a practice for the other 20 countries to,follow, leaving a destroyed Afghanistan after 20 years of bombing and looting. Ok so,far…..
@@mikelloyd520 There was nothing wrong with engaging in the war of Korea and Vietnam. USA only upheld defense treaties in those cases. Or are you saying it's wrong to honor your commitments to defend an ally?
Also, USA has spent 100 of billions in Afghanistan trying to rebuild the country. The failure in Afghanistan is 100% on the Afghani people.
@@dribrom we disagree entirely. USA is a warmonger since 1776, except for 20,years. The devils child.
It’s called angertainment. It needs to be recognized. People need to realize that they are being played.
This interview is incredible and everyone in America should hear this. Sobering on so many levels.
The saddest thing here is that I remember teaching exactly this in 1982, and being scoffed at (at a major university Econ program). So now you have 40 years to unwind. Good luck.
What disturbes me is that this has been obvious for a long time, and we had an offramp twice. There was a candidate in the 2016 and 2020 Democratic primary who was addressing this topic directly. The response from party leadership was "how do we stop it." Both parties have embraced Reaganomics wholesale, to our detriment, and have drawn the battle lines on culture war issues.
Yes that candidate is a Democratic Socialist. Because its a system that works In Europe as well in different forms elseware.
Watched it twice so far, there'll be more. It’s brilliant.
Using Share Arrow above to forward this piece. It’s like driving somebody to the polls.
Each one, teach one.
We got work to do….this will inspire.
Brilliant talk! Fall back in love with the 'unremarkables' because these are the people that keep the world going. Take care of our youth and mental health first. "The call is coming from inside of the house." America is embracing the wrong heroes. Spot on!!
This is so true and at the same time so depressing, my wife and I are Health Care professionals in our sixties with just a middle class income so we're not wealthy at all. But at least our modest home is paid for we drive older cars that are paid for and we have a fair amount of savings but of course most of that is in index stock funds or bond funds so that's always at risk. The good news is we have enough money to buy a small house in the mountains of Costa Rica and plan to be living there full-time before the next election in 2024. I don't see the US going anywhere but down, and I feel bad for the younger generation who are getting screwed by Rich folks. The really bad news is that we are headed towards global ecological and economic collapse in less than 10 years and then we're all screwed...
Oh and Republicans are the problem in this country, both the rich assholes who profit from this capitalism in the poor white folks who vote Republican because they're racist
And before the economic collapse will likely be US democratic collapse right after 11/2024 thanks to the Trump Cultists who now completely control the Republican Party at all levels. Costa Rica sounds like a fine destination. By chance, do you have a guest cottage or basement???
A reasonable plan but I hope you speak Spanish mate.
@J.M. Please do your research BEFORE moving to Costa Rica . The violent crime rate is very high there , and you have a target on your back . It’s worse if you are not from there . Even with 24/7 security you will need to be hyper vigilant.
I left the US 10 years ago. Best thing I ever did.
Man this guy gets it . He makes so much sense.
I know he’s a writer but he’s a great speaker.
Really, really important issues. I would love to hear/see more about this.
Professor Galloway you get an A++++ on the assignment. I love and listen to the Pivot podcast (People should subscribe if they haven't already), can you just tell Kara to stop interrupting so much? Haha. Thank you for the countless gems and pearls of wisdom!
I think the interruptions are crucial. Get him to slow down and take a breath. His own podcasts are just so difficult to absorb as they just gush for 30 mins without a breath. They are exhausting. Pivot has the balance just right.
Rich people will never get enough money .😅
Yes to some kind of national service and the dangers of social media. Mr. Galloway really has some excellent observations and solutions. Excellent guest!
In South Korea young men have a 2 year commitment to (military) service. It may interrupt their college attendance, jobs or families. A few years ago these young men were not allowed to bring their laptops (and possibly their phones….not sure). They were to focus on mandates for improving South Korean society (ie. road building). Think of the positive implications of this service. America could benefit from such a commitment. (Source: Former Korean student describing his responsibilities to country. )
Hopeful. This is the reality. I am 72 and one of those who has fallen through the cracks time and time again. Due to unfortunate bouts of bad luck I never maintained forward motion in acquiring financial comfort. I did have 2 + yrs. college to be an early childhood asst. Did not pay or offer job security. Someone has to drive the bus which pays better. 😼
"We need to fall back in love with the unremarkables"... great quote!
Excellent presentation!
This is the most brilliant person I’ve heard in a long time I’m going to get this book he just nailed everything.
I have many friends in Germany, England, Belgium, Australia, and New Zealand. Half of them went to college to become "professionals" and half of them went to schools to become apprentices in their chosen trades, whether construction, auto mechanics, electricians, graphic designers, plumbers, aviation technicians, etc. They were able to choose their education paths by the time they were juniors in high school. This seems so brilliant to me. We need trade schools! And how wonderful it would be if we had a national work program as he described! I wish I could get my Republican friends to watch this interview but, alas, the majority of the ones I know would discount it the moment they see the "PBS" logo. What a damn shame. I'm incredibly worried about America right now.
Hello beautiful lady you look sweet, where are you 🥰?
The "right" has no interest in solving problems... only holding, controlling and concentrating power and wealth.
We don't need a 'national work program'. The federal government could simply subsidize training programs at big corporations so people can acquire 21st Century skills. But of course they won't do it.
I wish more people would hear this. This speaker is exactly right. America is heading into a self made abyss.
Too many people are caught in their us vs. them mentality and conspiracies to bother listening.
What an intelligent, excellent and knowledgeable guest. Very good interviewer too.
The finance industry forcing a murderous game of "musical chairs" on basic housing has really hurt the working people of the USA. The prices of rents and homes have skyrocketed while more and more Americans are strained to near starvation or made homeless by insanely high prices. that's just GREED. Say it. Doesn't feel very nice to admit it, eh? Older middle class people got super greedy. The majority of working people under 65 got poorer than their elder siblings while working harder for less pay. Then their kids got poorer than them. Something of a Ponzi scheme is going on. Only a few septuagenarians + are feeling "comfortable" now. Regulate greed.
Do a bit of research on REIT, Real Estate Investment Trusts, where ultra-wealthy corporations own up to 40% of ALL housing stock in the USA. "American Homes 4 Rent" is just one, BlackRock another.
These trusts buy houses by the hundreds, for cash, "bundle" them into stock market packages, sell and buy for pure profit.
Each "trade" on the stock market increases demand for profits. House prices rise, rents too.
Exactly. It’s yet another Ponzi scheme, exported to the world. The world needs basic housing, but builds for upper middle class. Huge, unproductive, unearned wealth shift.
There are many circumstances that do not fit your data. Social security is a scheme we put in place where folks contribute and then get repaid at the time of retirement. Be careful that older folks are not blamed. Years of government policy and actions have created this mess. With such divided devotion to so much one sided media and talk fests online and on radio. I like your analysis. Good, balanced overviews of our issues is so important. I hope your optimistic view turns into some wise moves, as you articulated. I agree with your ideas , making community could make a huge impact in many areas. Thank you for doing this.
This may be the best channel available the internet. Thanks for so many thoughtful and enlightening interviews.
Dropping truth bombs here. Love it.
Thank you but I could only hear this brilliant logic with equal measures of hope and despair.
I love, love, love the idea of national service! It's hard to see the downside.
Unless you are in a Vietnamese village. Like My Lai. Or you just aren’t particularly keen on killing civilians, using white phosphorus bombs, thermobarics, land mines, Agent Orange etc.
The downside is that the government forces people to choose between digging ditches for minimum wage or going to prison.
Galloway must not see the irony in his suggestion. He chest puffs for capitalism and exhibits nationalism bordering on jingoistic, while he demonizes authoritarian countries such as China (he believes TikTok is a subversive weapon by China against the U.S.) yet at the same time he suggests national service in the U.S.
So no, national service is NOT a good idea. Moreover, they should raise the age of military service to 21 so that young people have a little more time to develop their mind in order to judge whether or not taking orders from an imperialist war mongering military industrial complex such as the U.S. is worth the trade off.
Even if we increased the minimum wage to $23 an hour, that still equates to an annual salary of $46K - not a living wage in or near any urban center.
@10:40 that's the key and it cuts across every sector of society. It's called pretending that the problems are so mysterious that we can't even understand them let alone solve them. The pharmaceutical industry thrives on this and they know exactly how the body works physiologically because they fund all the PRIVATE research.
"Adrift" sees the forest through the trees. It really does appeal to liberals and conservatives alike. It's a a very compelling and interesting analysis of our current society. For what it's worth, I'm quite conservative and one of my best friends is quite liberal (Yes, it's an unusual friendship these days, but I cherish it.) and we are both new fans of the book and author.
Beg your pardon. There are a lot of older people that are not wealthy for a variety of reasons. And many of them paid into Social Security for decades and for that reason should be entitled to claim it. The assumption shouldn’t be that everyone over a certain age is the wealthiest generation.
28 percent of people ages 62 to 70 work and don’t have enough money to avoid poverty or maintain their standard of living if they retired. Professor Galloway makes myopic generalizations that are cliched and harmful.
I believe he’s speaking in average terms, not individual cases. I listen to his podcast and he believes in supporting people in need. His problem is with the rich not paying their fair share.
So means test social security payments?
Scott Galloway. This literally lifted my spirit to the highest it's been all year. Thank you!
Fascinating analysis. Prof. Galloway never disappoints.
Meh, George Carlin said all this 20 years ago. He's Capt. Obvious to me. Not to mention he avoided the real problem... corruption.
So this is where the lazy populist has been receiving economics lessons.
@@themaskedman221 Oh, someone must be bitter that he couldn't score a point last time. Care for a rematch, Mr. Grammarly? 🤭
Thoughtful analysis, “What’s the point of all this if our kids are depressed.” The ‘all this’ includes the fundamental tenets of American capitalism. How can we be the wealthiest nation in the world and not provide healthcare to all members of society?
Because healthcare is a large part of that gdp. Lol
"Our government is the most noble organization in history", he said!!!! What planet is he from?
Really appreciate this author. The social security comment however is inapproriate. People give into social security when they work and recieve it when they retire. It is government mismanagement that allows the excess money from a larger generation to be spent elswhere so it's not available when those people retire.
This is all very true. There was a glimmer there at one point when the economic messages of Elizabeth Warren and Bernie Sanders started cutting through. After all, Bernie got applauded on Fox News. (I am more of a Warren supporter.) But then the moderates and Republicans got together and just ruled them out of bounds. After that moment, the economic discussion died. Progressives became more about race and identity issues. Challenging the economic problems is what we need, and it brings the majority of us together. The only people against this are the people profiting off the current system. Thus we need people like Scott Galloway to have these conversations with the older rich folks, such that he has access to them.
Countries with free tuition: Argentina, Austria, Brazil*, the Czech Republic*, Denmark, Egypt, Finland*, France, Germany*, Greece*, Iceland*, Kenya*, Luxembourg*, Malaysia, Morocco, Norway*, Panama*, Poland, Slovenia, Spain, Sweden, Turkey, and Uruguay.
* The asterisks indicate countries that even provide free tuition to American students!
Taking notes! Thanks!
Why are some of those countries having such problems? Free tuition isn't the total abswer.
This would be an interesting discussion about how to rearrange the deck chairs, but the iceberg is literally in front of us and we need to focus on it first.
I’m so glad to hear realistic and practical ideas and solutions for today challenges. I’m in agreement and feel the need to work on this locally.
Logical, realistic and truthful video many could gain a fresh perspective by listening. Thanks for sharing.
Finally someone who has the answers that makes sense. 🙏🏻👏
Amazing discussion. This guy is great.
Such a great interview. Thank you so much for putting this out.
Thank you!
Very informative and on point and touches on so many of the essential issues.
Buy the book people!
The disconnect between the actual practical worth of work to society and the actual rewards obtained for various kinds of work should appall Americans. Those who feed the nation, care for its children, heal its sick, educate its youth, etc., will likely never accrue the kind of wealth realized by A-list movie stars, "supermodels," the top one percent of "influencers," top-tier male athletes and the CEOs of mega-corporations. Yet were the very survival of the United States at stake, which group would be absolutely necessary and which could be jettisoned and the nation still survive quite well?
@KesArt. Agree with ur "Those who feed...care...heal...educate..." I am certain that in the US compared to entire world population is still amazingly elite. Black and Brown grandparents still care for their grandchildren not ONLY because the expense for corporate child care is out of reach, they do it for themselves to add meaning in their lives. Very wealthy white grandparents sit in luxurious Retirement Compounds with activities directors and memory care and temporary rehab wings on site. They are on the whole, more depressed and slip into permanent memory care units compared to their Black and Brown compatriots.
@@tombirney7276 I couldn't agree more: I retired early to help raise my granddaughter and I would not trade the time I spent--and continue to spend--taking care of her for all the riches of America's Silly-Cone Valley.
Cheers
He provides practical solutions and wisdom that is much needed in the media!
Most of his points need to be discussed!
Thank you for sharing this interview. I want to read Mr Scott Galloway's book. I agree with his take on the deliberate plundering of the middle class.
Late Stage Capitalism my friends. We need another FDR to take on the Super Rich.
This needs to be fixed right now because we are being suckered into death and decline.
Scott Galloway is telling the truth. We’ve known the things he’s talking about for decades, but the problems are getting worse. Let’s try to identify who is blocking the political leadership. And for what reasons. That’s what I want to know.
Scott Galloway is a wise man.
So...are we saying Naomi Klein's open opposition to Friedman Economics was prescient?
Yes
Spot on, Kudos! Our society has become atomized, & High Tech is a big reason for that. Gizmos have replaced relationships and meaningful group interactions of all kinds. The Education profession is making things even worse. A paradigm shift is needed ASAP.
This gentleman is full of great ideas. Thank you!
Professor Galloway thank you for mentioning veterans and the need for a national service. Also sitting out one year after high school is an excellent idea..
This is somewhat convoluted, but I think what is at the root of our problems is the need for a government where we all count, not one bought and paid for during every election cycle by the investor club in the 1%. Missing from our constitution is the essential right to fair elections, including the ability to limit money pouring into campaigns, because whoever pays in has the tax legislation written for them, along with everything else. All rights are guaranteed by our government, but if that government is controlled by a wealthy minority, it cannot guarantee rights protections whenever those rights interfere with the desires of the 1%. So is money free speech, or does money ultimately stifle the speech of most Americans? First comes the right to a fair elections process, essential to ensuring honest government that can then protect speech, press, assembly, economic equity, and so forth. 🗽🇺🇸
You make a good point. I kept waiting for Scott Galloway to say this but he never did. The rich have weaponized the political system against everyone else. And the rich have also weaponized the legal system against everyone else. The rich can afford to buy lots of politicians and lots of lawyers and the rest of us can't. They get favors and accommodations average people don't get because we can't afford it.
Blithely skipping over essential facts is a Galloway specialty. It's distressing to read the comments and see how many people are charmed by this self-promoting professor of shilling.
@@samuelglover7685 Your comment suggests that you have different information - please offer that ?
A Reaganite Republican would call all of this 'progress.' Is oligarchy the real American dream?
I just read “Shadow Network “ and she really puts all of this interview in perspective. A must read.
Thank you for this great interview
Great explanation of symptoms, very poor understanding and discussion of the forces at play. Wealth corrupts people and society, and concentrated wealth even more so. Traditional religion has delivered us into the "prosperity gospel" future, today.