The video Capitalism Is The Crisis: Radical Politics in the Age of Austerity examines the ideological roots of the “austerity” agenda and proposes revolutionary paths out of the current crisis. The film features original interviews with Chris Hedges, Derrick Jensen, Michael Hardt, Peter Gelderloos, Leo Panitch, David McNally, Richard J.F. Day, Imre Szeman, Wayne Price, and many more!
This is a perfect example of the growing hatred of the “corporation.” But it does not address the reforms necessary to democratize the corporation through the broadening of its ownership as future productive capital assets are developed and applied in the economy. By broadening private, individual ownership of the future assets of corporations and companies the result is wider income distribution and democratic participation in the business decisions. The broadening of ownership addresses the reality that productive capital is increasingly the source of the world’s economic growth and, therefore, should become the source of added property ownership incomes for all. The trend has been and will continue to diminish the importance of employment with productive capital ownership concentrating faster than ever, while technological change makes capital ever more productive. But because this is not well understood, what we as a society have been doing is to continually shift the work burden from people labor to real capital while distributing the earning capacity of capital workers (via capital ownership of stock in corporations) to non-owners through jobs and welfare. Such policies do not function effectively. We must democratize the corporation so that the future capital ownership of stock in corporations benefits ALL Americans and not just the top 1 percent.
