Chrystia Freeland

  • Aired:  10/11/12
  •  | Views: 12,852

In her book "Plutocrats," Chrystia Freeland argues that today's global economy allows the super rich to disregard the American middle class. (4:56)

>> STEPHEN: MY GUEST TONIGHT HAS A BOOK THAT CRITICIZES PEOPLE WHO ARE TOO RICH.

I'LL MAKE HER BOOK A BESTSELLER SO SHE CAN SEE HOW HURTFUL THAT IS.

PLEASE WELCOME CHRYSTIA FREELAND!

GOOD TO SEE YOU.

THANKS FOR COMING BACK.

YOU HAVE A NEW BOOK I FIND OFFENSIVE.

IT'S CALLED "PLEUT CRATES THE RISE OF SUPERRICH AND THE FALL OF EVERYONE ELSE." WHY IS THAT A SNROB.

[ LAUGHTER ]

THE SUPER-- WHY IS THAT A PROBLEM?

THE SUPER RICH HAVE SUPER EARNED ALL THEIR SUPER WEALTH.

THIS SAY VIEW THAT MANY OF THE SUPER RICH HAVE.

AND ACTUALLY ONE OF MY FAVORITE SUPER RICH CONCEPTS WHICH, I TALK ABOUT IN THE BOOK IS SOMETHING THAT FOSTER FREEZE.

HE FUNDED RICK SANTORUM IN THE PRIMARY.

>> ACE GOOD MAN.

>> HE INTRODUCED ME TO THE CONCEPT OF THE SELF PAC.

HE TALKED ABOUT HIS FRIENDS WHO FUND SYMPHONIES OR MUSEUMS OR FILL TROPIC PROJECTS.

HE SAID WHY SHOULD I GIVE MY MONEY TO THE GOVERNMENT TO SPEND ON WHAT THE GOVERNMENT WANTS.

I SELF TAX MYSELF AND SPEND MY MONEY ON RICK SANTORUM.

>> STEPHEN: IF YOU WATCHED THE PRIMARIES RICK SANTORUM WAS A TAX ON ALL OF US.

>> WAS IT MONEY WELL SPENT?

>> STEPHEN: I LIKE THAT IDEA.

HE SAID BY GIVING TO MONEY BY CHARITY IT'S I TAX MYSELF.

>> IT'S A SELF TAX.

IT'S BETTER THAN HAVING THE GOVERNMENT SPEND MONEY BECAUSE THE GOVERNMENT IS NOT AS SMART AS THE SUPER RICH WHICH SPEND

MONEY THE WAY THEY WANT WHICH IS BETTER FOR ALL OF US.

>> STEPHEN: WE MAY NOT NEED ROADS OR SCHOOLS BUT WE NEED THE BALLET.

>> YOU MIGHT NOT NEED AIR TRAFFIC CONTROLLERS BECAUSE YOU MIGHT HAVE A PRIVATE JET.

>> STEPHEN: I DO HAVE I -- I HAVE A PRIVATE JET.

>> THERE YOU GO.

>> STEPHEN: WHAT UPSET ME MOST IS I'M NOT ONE OF THE SUPER RICH.

>> HOW MUCH DO YOU MAKE?

>> STEPHEN:LY NOT TELL YOU.

THE SUPER RICH WE'RE TALKING ABOUT IS THE .001% AND HIGHER.

>> AND UP.

>> STEPHEN: THE 1%EVES LIKE ME ARE THE 99% COMPARED TO THOSE PEOPLE.

>> EXACT IT WILL RIGHT.

>> STEPHEN: SHOULD I BE OCCUPYING THEM?

I BET IT'S A LOVELY PLACE TO OCCUPY.

[CHEERS AND APPLAUSE]

>> HERE IS THE THING AND THIS IS THE NEW THING ABOUT THE SUPER RICH, THEY ARE GLOBAL.

AND IN THE 20th CENTURY THE AMERICAN SUPERRICH NEEDED THE AMERICAN MIDDLE CLASS TO HAVE ENOUGH MONEY TO BUY THE STUFF

THE SUPER RICH WERE CREATING.

THIS IS THE FAMOUS HENRY FORD THEORY.

YOU CAN HAVE YOUR STUFF PURCHASED BY THE INDIAN MIDDLE CLASS, THE CHINESE MIDDLE CLASS AND YOU DON'T RELY SO MUCH ON A

PROSPEROUS MIDDLE CLASS.

I THINK THIS IS POLITCALLY A SERIOUS PROBLEM AND PART OF THE REASON WE'RE SEEING SUCH POLARIZATION IN THE AMERICAN DEBATE.

>> STEPHEN: THE SUB TITLE IS THE RISE OF GLOBAL SUPERRICH AND THE FALL OF EVERYONE ELSE.

>> YES.

>> STEPHEN: IF THAT IS TRUE, SHOULDN'T I HITCH A RIDE WITH THE SUPER RICH?

OR AT LEAST JUST DO EVERYTHING I CAN TO GET UP IN THE SUPER RICH.

I DON'T WANT TO FALL.

SHOULDN'T I CUT THE DEAD WEIGHT OF FRIENDS AND FAMILY AND GET UP THERE WITH THE SUPER RICH AND SAY I'VE GOT MIND JACK AND WATCH

THEM TUMBLE DOWN?

>> THIS IS THE TRAGEDY OF AMERICA TODAY.

IF ALL OF US IN OUR OWN INDIVIDUAL LIKE DECISIONS, WE SEE THIS.

THIS IS NOT A HIDDEN PHENOMENON.

IT'S A WINNER TAKE ALL ECONOMY.

AND WE'RE DESPERATE TO GET OURSELVES INTO THAT PLACE AND OUR CHILDREN.

YOU KNOW, WHY IS THERE SO MUCH APPRECIATE SURE GET INTO THE BEST KINDERGARTEN?

TO GET INTO THE BEST ELEMENTARY SCHOOL?

IT'S NOT BECAUSE PARENTS PARENTS ARE CRAZY.

IT'S BECAUSE PARENTS SEE THAT THIS IS A WINNER TAKE ALL SOCIETY.

THEY WANT THEIR KIDS TO BE AMONG THE WINNERS BUT IN TERMS OF COLLECTIVE GOOD THIS IS NOT A GREAT WAY TO RUN THINGS, IS IT?

[ APPLAUSE ]

>> STEPHEN: THOMAS JEFFERSON HIMSELF SAID --

[CHEERS AND APPLAUSE]

YOU KNOW WHEN A PLAWD FOR PEOPLE OTHER THAN ME, IT HURTS.

[ LAUGHTER ]

CRIST CLINTON CRIST THANK YOU SO MUCH FOR JOINING ME.

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