{"@context":"http://iiif.io/api/presentation/3/context.json","id":"https://iastate.aviaryplatform.com/iiif/s46h12w116/manifest","type":"Manifest","label":{"en":["Gurley, John G., What's Wrong with America's Economic System"]},"logo":"https://d9jk7wjtjpu5g.cloudfront.net/organizations/logo_images/000/000/004/original/ISULogo.png?1601681107","metadata":[{"label":{"en":["Preferred Citation"]},"value":{"en":["Family Farm in Corporate America. Iowa State University Lecture Series (RS 8/6/53). Special Collections and University Archives, Iowa State University Library, Ames, Iowa."]}},{"label":{"en":["Publisher"]},"value":{"en":["Iowa State University. Special Collections and University Archives"]}},{"label":{"en":["Rights Statement"]},"value":{"en":["There are no restrictions on access. (access)","This item is protected by copyright and/or related rights. You are free to use this item in any way that is permitted by the copyright and related rights legislation that applies to your use. 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evening.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=47.31,48.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/9","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'd like to take a few moments","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=49.27,50.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/10","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"before tonight's presentation to welcome you","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=50.69,53.74"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/11","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the 1979 Institute on National Affairs.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=53.74,57.003"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/12","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"First we'd like to thank GSB for their support.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=58.3,61.863"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/13","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's very appreciated.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=62.89,64.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/14","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And secondly, for yourselves","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=64.75,65.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/15","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for coming out in better weather conditions, I guess,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=65.96,69.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/16","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but certainly isn't very warm.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=69.69,71.573"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/17","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We do have a full slate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=73.37,74.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/18","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of activities this week ranging","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=74.83,77.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/19","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from agricultural topics to urban topics","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=77.2,80.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/20","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the area of economics.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=80.59,82.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/21","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There will be a debate tomorrow night","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=82.89,85.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/22","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"between Harold Bray Meyer and General Oppenheimer","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=85.37,89.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/23","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the family farm or corporate America,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=89.36,92.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/24","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who will serve supper.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=92.4,93.763"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/25","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Followed by four more nights","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=94.78,96.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/26","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of issues on the economic health of our nation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=97.8,102.28"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/27","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We hope you take advantage of the programs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=102.28,105.73"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/28","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think you'll find the speakers will challenge","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=105.73,107.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/29","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some of your own beliefs and hopefully introduce you","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=107.63,111.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/30","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to some new ideas regarding our economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=111.16,114.943"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/31","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There really isn't time to run down the full list","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=116.57,119.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/32","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of things that we have going on this week,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=119.0,121.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/33","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but probably the safest thing for you to keep","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=121.92,124.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/34","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in mind is that there will always be a lecture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=124.96,126.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/35","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at eight o'clock during this week.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=126.83,128.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/36","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It'll either be in this room or in the gallery.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=128.83,132.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/37","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And probably this evening, by the time we leave,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=132.05,135.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/38","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there will be some brochures on the tables over here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=135.62,137.74"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/39","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that will have a complete schedule.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=137.74,140.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/40","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there are posters around the union and campus,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=140.63,143.28"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/41","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that will give you clues too,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=143.28,145.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/42","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as how to get to where things are.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=145.04,147.523"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/43","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As I mentioned, there will be some lectures","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=148.97,150.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/44","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the gallery, and also in the 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Institution","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=156.95,159.13"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/47","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on American agriculture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=159.13,160.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/48","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from the 19th century to the 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Friday,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=167.69,171.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/51","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think it's a very good representation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=171.83,174.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/52","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of what agricultural 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is","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=185.75,188.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/55","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the noon hour, if you'd like to take a departure","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=188.3,191.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/56","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from your usual lunch, we do have films","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=191.07,193.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/57","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that will be in the gallery each day","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=193.87,196.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/58","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and there will usually be a discussion following them.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=196.32,199.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/59","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think you'll find that these films will tie","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=199.67,201.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/60","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in very well with the evening's lecture.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=201.36,206.293"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/61","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So other than that, we might as well get on","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=209.35,213.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/62","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with what we're doing tonight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=213.25,214.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/63","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our title for night is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=216.11,217.227"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/64","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"What's Wrong with America's Economy?\".","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=217.227,219.85"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/65","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our guest lecturer tonight is John G Gurley,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=219.85,223.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/66","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"professor of economics at Stanford.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=223.17,225.82"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/67","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He's an author, a consultant,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=225.82,228.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/68","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I think mostly an educator.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=228.36,230.063"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/69","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He conducts courses from elementary, to Marx and economics,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=230.91,235.91"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/70","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and he has an excellent understanding of Chinese economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=235.99,238.873"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/71","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Professor Gurley has authored","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=240.12,241.937"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/72","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"Money in a Theory of 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Strategy\".","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=248.3,251.047"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/75","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In just the few short hours","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=252.54,254.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/76","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I've known Professor Gurley,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=254.48,256.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/77","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I found him to be both personable and informative.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=256.51,260.673"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/78","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"He did tell me that the weather","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=261.55,263.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/79","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in San Francisco was quite cold,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=263.52,265.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/80","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it was a chilly 50 degrees there,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=265.6,268.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/81","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but you assume he was awakened to what cold is","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=268.4,271.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/82","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when he got off the plane this afternoon.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=271.72,274.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/83","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So would you please give a warm Iowa welcome","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=274.49,277.141"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/84","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to Professor Gurley.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=277.141,278.623"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/85","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience clapping)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=279.484,282.484"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/86","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience 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Pat.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=291.41,292.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/89","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That was a, that was a very nice introduction","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=292.57,296.02"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/90","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I especially appreciated the warmth","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=296.02,298.207"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/91","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at the end, at the end of that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=298.207,300.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/92","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm very pleased to have the opportunity","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=300.78,303.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/93","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to begin the week's discussion of this important topic.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=303.7,308.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/94","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is America's economic system, is it obsolete?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=308.82,311.843"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/95","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I hope that the Institute on National Affairs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=313.08,316.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/96","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has a most successful series of talks this week,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=316.62,320.99"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/97","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I wish you all well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=320.99,322.443"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/98","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=328.17,329.003"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/99","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the U.S.,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=330.22,332.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/100","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the U.S. economy has had","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=332.17,334.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/101","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"really a remarkably good record","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=334.57,336.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/102","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"during the post-war period compared","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=336.59,339.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/103","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to its performance in the three or four decades","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=339.4,343.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/104","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"prior to the Second World War.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=343.95,346.683"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/105","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I have a series of transparencies here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=348.55,353.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/106","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which will give you some of the data","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=353.0,355.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/107","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I'll be referring to.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=355.37,357.323"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/108","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If you","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=358.84,359.673"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/109","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"find it difficult to see these","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=361.32,364.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/110","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think you need to be greatly concerned,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=364.25,366.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/111","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'll try to sum up the main points for you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=366.87,370.383"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/112","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"See what this shows is that some","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=372.78,375.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/113","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the main economic indicators have performed better","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=375.78,380.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/114","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the post-war period from 1946 through 1977,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=381.14,385.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/115","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it would also be true if we took through 1978,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=385.04,387.713"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/116","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then they did in the four decades from 1900 to 1940.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=389.14,394.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/117","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So if you take a look at real GNP,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=394.63,396.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/118","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"you can see that there was a higher rate of growth of that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=396.38,400.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/119","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'll put per man hour or labor productivity","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=400.18,403.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/120","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"was also better in the postwar period,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=404.4,408.453"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/121","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"growth rate of manufacturing output.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=409.49,412.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/122","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The average unemployment rate was,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=412.39,415.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/123","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"despite all of our woes about unemployment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=415.03,418.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/124","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the last 10 years or so,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=418.26,422.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/125","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the average unemployment rate on the whole","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=422.16,425.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/126","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the post-war period was substantially lower","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=425.26,428.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/127","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than it was on the average before the Second World War.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=428.57,432.82"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/128","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now wholesale prices have not performed as well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=432.82,436.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/129","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is, this is certainly one area","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=436.21,438.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/130","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that has deteriorated compared to the pre-war years.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=438.32,443.273"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/131","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then I also list stock prices.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=444.89,446.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/132","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I want to come back, I want to come back to that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=446.88,448.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/133","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But, you can see the stock prices went up faster","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=448.87,451.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/134","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the post-war period than they did prior to that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=453.0,455.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/135","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I also list a couple of things","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=456.48,457.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/136","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I probably won't refer to again:","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=457.96,459.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/137","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the civilian employment in federal government","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=459.59,461.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/138","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the federal government debt outstanding.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=461.84,463.66"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/139","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I have those items on here because several months ago,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=463.66,466.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/140","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I gave a talk to the alumni","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=466.52,468.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/141","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the Stanford Graduate School of Business","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=468.15,470.02"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/142","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they were very much interested","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=470.02,471.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/143","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in how many people are in the federal government","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=471.3,473.532"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/144","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the federal government debt outstanding.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=473.532,476.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/145","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And they're also of course very interested in stock prices,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=476.69,479.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/146","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so I've listed, I've listed all of those.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=479.24,482.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/147","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I assume that this audience has no interest at all","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=482.69,486.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/148","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughs)\nin those items.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=486.27,488.903"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/149","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now also, the years","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=489.97,492.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/150","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"1950 through 1973","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=492.36,495.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/151","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"were the longest sort of continuous period of growth,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=496.9,501.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/152","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"although with some minor interruptions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=501.25,504.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/153","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that we've had in this country for some time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=504.16,507.85"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/154","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Also 35 million new jobs were created","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=507.85,511.8"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/155","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"during the post-war period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=511.8,513.373"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/156","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So the people, you know, from this long run point of view,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=514.29,517.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/157","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the people who are grousing about the U.S. economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=517.49,521.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/158","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"perhaps do not remember the horrors","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=521.95,524.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/159","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the 1930s,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=524.4,526.213"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/160","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or the 1929 stock market crash,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=527.07,531.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/161","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or the hyperinflation after World War One.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=531.65,535.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/162","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Am I leaving everybody behind now, by this time?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=535.62,539.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/163","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The several severe financial panics","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=539.1,541.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/164","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the first 15 years of this century,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=541.72,544.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/165","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and some of the very depressed years of the 1890s.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=544.44,547.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/166","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean we had quite a record","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=547.88,550.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/167","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of a rather bad economic performance","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=550.69,553.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/168","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over a good part of that period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=553.24,555.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/169","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So the post-war period does stand out.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=555.94,557.54"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/170","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That was a relatively, relatively good period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=557.54,561.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/171","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So whatever criticisms I, I now launch into,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=561.63,566.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/172","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"please put them within, within that long run framework.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=566.17,571.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/173","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"However, despite its own overall sterling performance","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=573.51,578.06"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/174","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"during the post-war period, the U.S. economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=578.06,581.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/175","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has deteriorated during the post-war period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=581.47,584.963"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/176","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that's shown on the second, on the second chart.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=586.02,590.383"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/177","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now here,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=592.07,592.993"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/178","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"here I list corporate profits after tax","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=594.48,599.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/179","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because I think this is a key indicator,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=600.239,601.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/180","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm going to come back to this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=601.86,603.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/181","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The corporate profits after tax, in real terms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=603.46,606.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/182","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that is after adjusting them for inflation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=606.45,608.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/183","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and taking them after, after taxation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=608.46,610.913"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/184","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Corporate profits in those terms increase","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=612.2,614.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/185","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by six and a half percent per year in the first two decades","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=614.18,617.76"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/186","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the post-war period, and then fell","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=617.76,620.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/187","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by three and a half percent per year in the third decade.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=620.32,624.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/188","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now I also list a third column just for a reference","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=624.61,627.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/189","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This column is sort of the '70s.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=628.87,629.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/190","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So it goes from 1969 through 1977.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=629.95,633.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/191","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And again, the figures would be essentially the same","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=633.45,635.66"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/192","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if you took it through 1978.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=635.66,638.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/193","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That is corporate profits during the 1970s","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=638.14,640.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/194","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"didn't increase at all in real terms after, after taxes.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=640.69,645.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/195","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Having had that big increase really","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=646.7,648.74"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/196","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the first two decades.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=648.74,650.8"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/197","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Then the next thing I list","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=650.8,652.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/198","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is gross private domestic investment.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=652.47,654.71"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/199","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That is capital formation in the economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=654.71,658.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/200","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now here again you can see a deterioration.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=658.21,660.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/201","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm not going to go through every one of these figures,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=660.25,662.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/202","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I just, I'll just point out to you","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=662.19,663.85"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/203","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that there has been this general deterioration","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=663.85,666.74"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/204","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the performance in key areas of our, of our economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=666.74,671.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/205","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Gross national product, you can check that out.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=671.42,673.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/206","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The labor productivity, that is output per man hour.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=673.67,676.923"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/207","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The average unemployment rate,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=678.17,680.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/208","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has been higher in recent years","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=680.4,681.893"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/209","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then it was in the early years of the post-war period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=681.893,685.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/210","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Consumer prices have certainly gone up more.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=685.04,687.603"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/211","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Stock prices have performed much less well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=688.89,692.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/212","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You see from 1969 through 1977,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=692.05,695.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/213","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"stock prices barely went up at all.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=695.09,698.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/214","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In fact, if you, you know,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=698.08,701.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/215","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if you take the New York stock composite index","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=701.19,704.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/216","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is the most inclusive index of stock prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=704.61,707.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/217","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the New York stock exchange,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=707.87,710.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/218","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that index started at the index number of 50","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=710.33,714.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/219","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in December 1965, it's now around 56.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=714.55,719.413"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/220","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean that's a 12% increase over that entire period,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=719.413,722.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/221","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's a period of 13 years.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=722.61,724.823"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/222","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's increased about 12%, you see?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=726.99,729.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/223","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So that's just a fraction of 1%","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=729.24,730.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/224","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on a compound interest basis over that time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=730.9,734.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/225","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And consumer prices have about double","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=734.42,737.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/226","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over that period of time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=737.27,738.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/227","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So that means if you had your money in the stock market","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=738.5,741.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/228","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in 1965,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=741.55,743.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/229","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in a representative group of stocks,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=743.92,747.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/230","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you still have that same group of stocks,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=747.59,751.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/231","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that you have lost heavily in, in real terms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=751.36,754.993"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/232","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now I also show the depreciation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=757.56,760.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/233","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the dollar on international markets.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=760.87,762.82"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/234","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well you're all aware that that's occurred","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=762.82,764.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/235","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the last few years, and it did not take place","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=764.84,768.13"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/236","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the first couple of decades of this post-war period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=768.13,771.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/237","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So again the, so again, a deterioration.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=771.84,774.523"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/238","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, what accounts, what accounts","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=775.9,778.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/239","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the slower output growth,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=778.18,779.963"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/240","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the rising unemployment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=781.07,784.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/241","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the decline in labor productivity, over this period?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=784.21,788.133"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/242","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, I, I mentioned just those","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=789.12,791.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/243","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because what I want to do is leave inflation off","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=791.29,794.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/244","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to one side, for just a moment.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=794.79,796.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/245","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Because I think that's a tougher problem","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=796.62,798.73"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/246","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I can deal now with, with relatively simpler problems.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=798.73,803.73"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/247","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let me state the question again.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=804.23,805.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/248","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What accounts for the slower output growth,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=805.65,808.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/249","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the rising unemployment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=808.86,811.136"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/250","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the decline of labor productivity?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=811.136,813.623"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/251","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I think that the immediate cause","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=815.67,817.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/252","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of these ills is the increasing squeeze","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=817.9,821.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/253","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that has been placed on corporate profits.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=821.21,824.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/254","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That is after taxes, and adjusted for inflation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=824.05,828.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/255","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as the post-war period has progressed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=828.36,831.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/256","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, you note that on this on this chart,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=831.61,834.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/257","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the top line shows you the deterioration","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=834.12,837.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/258","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that has taken place here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=837.0,838.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/259","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And the next chart will give you a graph","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=838.98,843.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/260","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the annual figures through the,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=843.96,848.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/261","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"throughout the post-war period.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=848.93,851.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/262","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And you can see that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=851.35,852.953"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/263","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I didn't realize that I was going to get,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=854.04,855.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/264","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I thought I wouldn't be able to see any of this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=855.96,857.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/265","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I can now see the transparency down there,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=857.84,860.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/266","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so that's just great.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=860.57,861.703"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/267","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You can, you can see that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=863.81,866.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/268","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the corporate profits rose somewhat","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=866.95,869.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/269","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the first several years","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=869.12,870.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/270","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the early post-war period,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=870.33,873.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/271","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and then there was a very big increase, in those,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=873.25,877.99"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/272","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"up to","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=877.99,879.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/273","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about the mid 1960s,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=879.19,880.753"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/274","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"'65, '66.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=881.703,883.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/275","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then after that they began coming down very fast,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=883.93,887.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/276","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"during president Nixon's wage and price controls.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=887.6,892.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/277","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In 1970, '71,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=892.77,895.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/278","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the corporate profits recovered quite well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=895.92,898.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/279","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In fact I think that's, was the,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=898.29,900.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/280","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"one of the main purposes of the wage and price controls,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=900.34,903.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/281","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"was to increase corporate profits","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=903.12,905.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/282","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they responded very well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=905.33,907.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/283","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But then after there was a big slump in 1974, '75,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=907.37,912.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/284","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and a recovery of course, a very fast recovery after that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=913.24,917.71"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/285","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But, you can see that even the last figure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=917.71,920.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/286","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is 1977, and 1978 is not much higher","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=920.29,923.82"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/287","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in real terms than the 1977 figure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=923.82,927.11"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/288","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that that's, those last figures","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=927.11,930.082"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/289","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do not approach","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=930.082,932.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/290","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the levels reached in the mid, in the mid 1960s.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=932.81,937.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/291","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, perhaps the levels reached","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=937.42,938.74"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/292","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the mid 1960s were abnormal.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=938.74,941.31"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/293","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if one thinks that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=941.31,943.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/294","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then there are different interpretations for that chart.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=943.26,947.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/295","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I do not think that one can get away","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=947.33,949.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/296","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from the overall interpretation that the last 10 or 15 years","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=949.88,954.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/297","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have really been quite different from the first 20 years,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=954.05,957.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/298","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so far as corporate profits,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=957.15,959.245"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/299","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the corporate profits are concerned.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=959.245,961.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/300","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean, there definitely has been some sort","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=961.08,962.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/301","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of a deterioration here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=962.87,964.253"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/302","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The root cause of the profit squeeze,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=965.13,968.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/303","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is the increasing strength 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competitors","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=973.56,978.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/306","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the U.S. capitalist class.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=978.72,981.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/307","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These antagonists include West Germany,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=981.59,985.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/308","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and Japan.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=985.44,986.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/309","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You see, I'm not calling,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=986.92,988.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/310","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're not all foes, they're not all enemies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=988.48,991.02"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/311","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They're simply antagonists in the general sense,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=991.02,993.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/312","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that they are competitors, either foes or competitors","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=993.64,997.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/313","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the profits position of the U.S. capitalist class.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=997.81,1001.58"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/314","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These antagonists include West Germany and Japan,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1001.58,1004.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/315","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"OPEC and other international cartels, global Marxism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1004.39,1009.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/316","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as I'll explain in a few moments,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1009.43,1011.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/317","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"ultra nationalist movements, the working classes,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1011.6,1016.273"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/318","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"consumer movements, environmentalists,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1017.38,1020.323"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/319","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"government regulators, and others.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1021.39,1024.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/320","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"All of these groups have weakened the ability","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1024.81,1028.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/321","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of U.S. capitalism to extract profits","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1028.77,1031.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/322","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from its domestic and international operations.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1031.94,1036.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/323","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now the next chart shows a,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1036.35,1038.723"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/324","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some of the relations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1040.87,1042.73"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/325","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"among the groups","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1042.73,1044.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/326","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I've just listed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1045.856,1048.333"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/327","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They show it, it shows for example, in red,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1049.35,1053.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/328","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some of the foes, competitors,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1053.41,1056.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/329","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"antagonists that I have in mind.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1056.21,1059.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/330","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now all I'm trying to point out here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1059.27,1061.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/331","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1061.81,1062.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/332","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"these are not exogenous forces imposed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1063.53,1068.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/333","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on an otherwise peaceful scene.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1068.71,1071.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/334","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean many of these foes, competitors, and whatnot","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1071.39,1074.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/335","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"come out of the very workings","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1074.52,1076.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/336","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the capitalist system itself.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1076.52,1078.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/337","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean they were spawned by capitalism","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1078.24,1080.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/338","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and oftentimes strengthened","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1080.95,1082.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/339","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the very workings of the capitalist system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1082.48,1085.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/340","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So my main point here is that many","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1085.89,1089.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/341","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of these groups are part and parcel","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1089.24,1092.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/342","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the workings of the very mechanism of capitalism.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1092.4,1097.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/343","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now let me explain a little bit about that thought,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1097.24,1102.013"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/344","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the antagonists are not simply outside casual intruders","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1102.86,1107.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/345","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into an otherwise peaceful scene.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1107.96,1110.373"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/346","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Marxism sprang from industrial capitalism","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1111.57,1114.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/347","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and its further development into big scale,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1115.52,1119.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/348","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or monopoly, or oligopoly capitalism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1119.33,1122.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/349","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and then into imperialism.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1122.25,1124.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/350","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The Marxism actually was spawned","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1124.77,1126.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/351","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"out of that whole capitalist,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1126.93,1128.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/352","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that whole capitalist development.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1128.64,1130.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/353","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Since global capitalism develops unevenly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1130.77,1133.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/354","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the champions and their challengers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1133.9,1136.11"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/355","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are being continuously recreated.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1136.11,1139.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/356","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In recent years, Japan and West Germany","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1139.25,1141.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/357","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have come up very fast to challenge the United State.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1141.61,1145.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/358","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Tomorrow, Brazil will take on the new champion.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1145.14,1149.603"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/359","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Capitalism also creates its domestic foes","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1150.75,1154.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/360","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and often strengthens them.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1154.36,1155.823"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/361","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Consumer movements 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resources.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1378.95,1381.523"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/428","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In addition, the global diffusion of Marxism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1382.5,1385.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/429","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and this despite its fragmentation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1385.69,1388.933"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/430","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has bolstered communist parties and radical movements","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1389.87,1392.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/431","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"within some of the advanced capitalist countries.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1392.69,1396.02"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/432","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The success of Marxism has also made it imperative","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1396.02,1399.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/433","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for capitalism, if it is to survive,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1399.08,1402.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/434","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to compete hard by maintaining high growth rates","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1402.21,1406.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/435","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and generous welfare programs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1406.29,1408.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/436","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with the aid of Keynesian policies, which have in turn","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1408.1,1411.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/437","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"strengthened labor struggle against capital.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1411.59,1414.883"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/438","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now those forces and the relationships","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1419.34,1422.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/439","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"among those forces are outlined","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1422.63,1424.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/440","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in charts five,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1424.27,1426.263"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/441","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the next chart.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1427.346,1428.493"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/442","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there you can see that I list","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1431.13,1434.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/443","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"above the increasing strength of antagonists.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1434.29,1436.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/444","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So those are all the different groups","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1436.83,1438.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/445","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I just went through,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1438.26,1440.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/446","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"leading to growing weakness of the U.S. capitalist class,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1440.98,1444.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/447","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"deterioration of corporate profits","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1444.29,1446.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/448","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which in turn has led to a decline in capital formation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1446.23,1449.763"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/449","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The expected rates of return decline","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1450.71,1455.71"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/450","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and capital formation then does not grow as rapidly.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1455.83,1460.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/451","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that in turn has been responsible,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1460.62,1462.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/452","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at least partly responsible,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1462.92,1464.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/453","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the decline in labor productivity.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1464.25,1466.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/454","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Labor has less capital","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1466.1,1467.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/455","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than it otherwise would have, to work with.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1467.48,1471.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/456","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And labor productivity is down.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1471.19,1472.58"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/457","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Although I already gave another reason","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1472.58,1474.28"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/458","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the decline of labor productivity too.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1474.28,1478.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/459","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And it has led to the decline in GNP growth rate,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1478.09,1480.99"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/460","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"rise in unemployment, and so forth.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1480.99,1483.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/461","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think the rising unemployment is also due","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1483.04,1485.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/462","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to some other, some other factors,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1485.41,1487.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/463","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"including just a very general one, the change in lifestyles.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1487.59,1491.66"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/464","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But then I think, some of that I think","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1491.66,1493.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/465","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can be traced to the things I've already mentioned.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1493.3,1498.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/466","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, let me come to a more difficult question.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1500.17,1502.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/467","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What accounts for the accelerated inflation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1502.51,1505.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/468","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"during the post-war period?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1505.56,1507.633"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/469","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The root cause of this lies in two related fields,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1509.07,1513.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/470","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the first is the area just discussed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1513.57,1516.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/471","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That is the increasing strength 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competitors","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1520.87,1525.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/474","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the U.S. capitalist class.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1525.89,1528.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/475","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This has unleashed and intensified struggles","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1528.1,1532.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/476","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"between capital and its growing antagonists","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1532.61,1535.735"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/477","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and among various strata of capital itself,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1535.735,1539.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/478","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that is interest receivers against profit receivers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1539.05,1541.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/479","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and so on, at home and abroad,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1541.77,1545.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/480","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over sharers of national and world output,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1545.53,1548.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/481","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which have contributed to the inflationary spirals","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1548.89,1551.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/482","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"throughout the capitalist world.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1551.64,1554.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/483","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Each claimant has repeatedly raised prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1554.33,1557.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/484","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of whatever it controls in attempts","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1557.88,1561.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/485","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to boost its share of total 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stagnating,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1757.03,1759.343"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/549","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"fewer going backwards,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1760.36,1762.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/550","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and most of the world actually engaged","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1762.4,1764.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/551","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in economic development with rising, with rising demands.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1764.53,1768.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/552","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now that not only helped to strengthen many","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1768.77,1771.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/553","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of U.S. capital's antagonists.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1771.08,1773.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/554","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For example, it helped to propel Japan and West Germany,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1773.29,1776.626"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/555","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and others to the front,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1776.626,1780.083"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/556","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it also placed great 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resources.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1786.82,1789.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/559","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Such continuing pressure added to the burst","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1789.84,1792.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/560","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of inflation of the last 10 years.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1792.2,1796.225"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/561","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now I'm going to show you the, I mean,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1796.225,1799.11"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/562","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we'll show you the next chart,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1799.11,1801.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/563","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but don't panic when you see it, just relax.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1801.27,1804.423"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/564","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Okay.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1806.1,1806.933"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/565","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Like just take a piece of it at a time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1809.11,1811.523"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/566","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Look at the, look at the blue,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1812.41,1814.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/567","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at the blue parts in the middle,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1814.33,1816.403"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/568","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the increasing strength","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1817.24,1819.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/569","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the antagonists of the U.S. capitalist class,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1819.52,1822.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/570","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"cause this is what I've already discussed,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1822.1,1824.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/571","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that leads to the weakening","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1824.35,1826.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/572","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the U.S. capitalist class, slower growth, et cetera.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1826.4,1830.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/573","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Okay, now that's a story, that's a story already told.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1830.0,1834.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/574","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But now the link to the inflation story is shown.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1834.18,1838.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/575","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That is that that increasing strength","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1838.6,1841.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/576","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of antagonists of the U.S. capitalist class,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1841.0,1844.06"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/577","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has led to intense struggles, and more even struggles,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1844.06,1848.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/578","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at home and abroad among these various contending groups,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1848.07,1853.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/579","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over sharers of domestic and world output.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1853.37,1858.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/580","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That has contributed to the accelerated inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1858.25,1861.863"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/581","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But an equally important contributor","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1863.09,1868.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/582","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the accelerated inflation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1868.27,1870.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/583","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is the unprecedented worldwide economic boom","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1870.35,1873.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/584","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that has led to increasing pressures","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1874.257,1876.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/585","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on supplies of labor, food,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1876.69,1878.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/586","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"raw materials, and natural resources.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1878.39,1880.71"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/587","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So both these things have led","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1880.71,1882.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/588","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into the accelerated inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1882.32,1886.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/589","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I also show in red, off to the left,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1886.09,1889.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/590","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the global spread of Marxism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1889.72,1891.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/591","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I'm sure there are other factors too.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1891.64,1893.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/592","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In fact, I tried to, I tried to enter one other factor here,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1893.33,1898.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/593","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have led to the decline of the,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1899.85,1902.573"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/594","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what Marxists called the decline of the U.S. empire,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1903.6,1906.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/595","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it's really sort of a loss","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1906.94,1909.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/596","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of control over the world's resources.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1909.67,1912.063"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/597","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The United States of course can still trade for them,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1913.311,1915.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/598","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but the United States increasingly has lost control","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1915.93,1918.31"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/599","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over the prices and over the supplies","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1918.31,1921.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/600","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of vital resources in the world.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1921.64,1924.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/601","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And this is a sure indication of a loss of 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prices,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1935.72,1938.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/606","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"oil prices going up so much,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1938.97,1941.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/607","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and all of this to the depreciation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1941.84,1943.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/608","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the dollar on international markets.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=1943.68,1945.963"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/609","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(buzz of microphone muffles speaker's 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accommodating","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2033.94,2037.91"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/622","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"these global forces while trying to maintain some semblance","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2037.91,2042.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/623","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of economic growth, which incidentally is, is essential","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2042.27,2047.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/624","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the health of, of the capitalist system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2047.38,2050.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/625","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It has to keep growing or it's going to die.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2050.48,2052.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/626","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And while prices are being pushed up all around","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2053.67,2057.58"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/627","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by these more and more equal contending forces,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2057.58,2060.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/628","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"pushing up the prices of the things they control,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2060.65,2063.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/629","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the monetary authorities accommodate themselves","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2063.44,2067.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/630","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to those structural factors as best they can","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2067.25,2071.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/631","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in order to at least get enough money supply","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2071.3,2073.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/632","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"out there to maintain some semblance of, of economic growth.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2073.67,2077.883"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/633","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In view of what is really going on in the world,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2079.07,2083.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/634","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it is, I think, almost pitiful","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2083.77,2085.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/635","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the way financial columnists cling","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2085.84,2088.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/636","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to such inadequate explanations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2088.47,2090.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/637","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of such deep rooted problems.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2091.56,2094.193"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/638","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now what can be done to reverse these trends?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2095.76,2098.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/639","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well you just undo all the things (lightly chuckles),","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2098.67,2100.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/640","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"just undo all the things I've mentioned.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2100.87,2102.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/641","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Essentially you know, what's needed here,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2104.76,2108.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/642","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"being if one wants to improve the performance of capitalism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2108.07,2111.523"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/643","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as most people do, some people don't,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2112.52,2114.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/644","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but if you want to improve the performance","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2114.95,2117.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/645","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of capitalism the thing to do is","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2117.17,2118.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/646","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to transfer income from other classes and groups","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2118.75,2122.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/647","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at home and abroad to the U.S. capitalist class.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2122.9,2126.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/648","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's the easiest way","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2126.5,2127.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/649","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of raising their own expected rates of return,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2127.65,2132.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/650","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"increasing domestic capital formation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2132.91,2136.053"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/651","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"giving more","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2137.2,2139.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/652","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"up-to-date technology","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2139.15,2141.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/653","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the labor force for higher labor productivity.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2141.94,2146.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/654","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's keeping, our keeping our prices down,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2146.32,2149.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/655","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or keeping them from rising as much","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2149.4,2151.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/656","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as they otherwise, as they otherwise would.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2151.24,2153.593"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/657","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Or, to express it perhaps in a somewhat broader way,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2154.83,2159.277"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/658","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to that the domestic and international antagonists","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2159.277,2163.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/659","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the U.S. capitalist class must be weakened.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2163.77,2166.263"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/660","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And of course, one way of weakening them is","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2167.559,2169.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/661","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to transfer income from them,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2169.39,2171.76"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/662","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the U.S., to the U.S. business,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2171.76,2174.85"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/663","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to corp-, to corporate profits essentially.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2174.85,2178.613"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/664","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And that will, I think it will have a magic effect","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2179.69,2183.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/665","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the performance of the economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2183.46,2188.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/666","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now that, plus some other things,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2188.52,2190.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/667","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are shown in chart number seven, the final one I have.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2190.55,2195.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/668","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You know, don't copy down every, everything here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2196.11,2200.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/669","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Essentially it shows three things,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2200.29,2202.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/670","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that there are various ways of raising corporate profits.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2202.45,2206.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/671","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You can reduce taxes on capital, for example.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2206.24,2209.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/672","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Reduce capital gains, taxation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2209.67,2212.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/673","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"reduce the corporation income tax,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2212.36,2214.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/674","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"give even more accelerated depreciation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2214.62,2216.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/675","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or investment tax credits, and all sorts of things.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2216.81,2220.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/676","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You can hold back real wages in various ways","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2220.7,2223.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/677","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to leave more room for an increase in, in corporate profits.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2223.1,2227.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/678","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there are still other ways of doing it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2227.49,2229.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/679","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I also list, because many people think","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2229.23,2232.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/680","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this is a very important thing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2232.12,2233.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/681","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to reduce government interference with business.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2233.89,2236.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/682","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I think that's easier said than done","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2236.77,2240.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/683","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the reasons I've already mentioned.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2240.86,2242.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/684","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Namely that it's not just an outside intruder,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2242.46,2244.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/685","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean it's not just part","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2244.81,2245.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/686","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of a conspiracy to harass business.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2245.81,2249.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/687","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"More and more regulation of business,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2249.65,2251.558"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/688","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the government, grows out","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2251.558,2253.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/689","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the very workings of the system itself.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2253.97,2256.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/690","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It grows out of the problems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2256.34,2257.443"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/691","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that have been created","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2257.443,2259.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/692","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the workings of the capitalist system,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2259.34,2262.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/693","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the problems that it generates,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2262.21,2264.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/694","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the problems that it's not able to solve","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2264.55,2266.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/695","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"within its own institutions, within its own environment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2266.79,2270.66"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/696","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and hence some outsider, the government,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2270.66,2273.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/697","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has to step in with programs to help solve these problems.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2273.1,2277.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/698","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Of course, the solutions oftentimes generate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2277.75,2280.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/699","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"still more problems,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2280.03,2281.323"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/700","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which then call for still more government interference,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2282.524,2286.827"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/701","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and on and on you go.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2288.161,2289.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/702","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But the point is, I think,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2289.29,2292.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/703","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think the correct point is that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2292.87,2295.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/704","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that these grow out of the system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2296.25,2297.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/705","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and do not represent some outside exogenous conspiracy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2297.84,2302.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/706","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by government administrators.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2304.272,2306.453"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/707","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then finally strengthen the international position","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2308.21,2310.73"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/708","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the U.S. capitalist class","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2310.73,2312.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/709","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by undercutting somehow Japan's position,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2312.34,2316.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/710","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or West Germany's position, or France's","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2316.24,2319.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/711","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the international markets.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2319.21,2322.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/712","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You know, maybe getting, giving full recognition","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2322.4,2326.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/713","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to China or something like that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2326.3,2327.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/714","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so you could get a foot in there","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2327.67,2328.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/715","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"before the French and the Italians get","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2328.97,2331.91"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/716","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"too well-established in the Chinese market.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2331.91,2335.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/717","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There are lots of other ways,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2335.36,2336.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/718","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"lots of other ways of doing it too, including force.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2336.55,2339.263"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/719","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Not of course against West Germany, or Japan,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2340.84,2343.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/720","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I'm talking about, I guess,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2343.84,2344.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/721","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"other foes, antagonists, ultra nationalist movements,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2344.81,2348.193"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/722","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"revolutionary movements of one type or another.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2351.99,2354.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/723","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the post-war period we have used force quite a few times.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2354.38,2359.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/724","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's, I don't want the claim that it's the top priority","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2359.33,2363.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/725","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of, you know, of all the ways","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2363.83,2364.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/726","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of solving a problem that, that we are trigger happy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2364.95,2368.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/727","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think, I don't think we are.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2368.37,2370.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/728","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But, if problems cannot be solved in other ways,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2370.64,2373.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/729","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then there hasn't been all that much hesitation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2373.9,2377.11"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/730","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in using force to solve some of these problems.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2377.11,2381.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/731","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I list it, because in fact it has been one","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2381.79,2384.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/732","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the favorite methods used over the years.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2384.21,2388.023"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/733","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now I imagine that some of the adverse trends","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2392.24,2396.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/734","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I have discussed may be modified,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2396.56,2400.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/735","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or even reversed,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2400.62,2402.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/736","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the near future with the use","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2402.89,2405.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/737","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of some of the counter measures that you see,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2405.41,2409.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/738","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that you see in front of you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2409.49,2410.99"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/739","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In fact, a lot of these things have already taken 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policies","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2418.82,2422.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/742","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that could be carried out to increase corporate profits","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2422.44,2424.76"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/743","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and whatnot, in 1974 and 1975.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2424.76,2428.247"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/744","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I, I note","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2428.247,2430.771"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/745","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that some of these","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2430.771,2432.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/746","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"have indeed already been carried out,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2432.26,2434.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/747","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"maybe not to the full extent that they should","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2434.05,2436.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/748","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in order to do a lot of good,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2437.49,2439.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/749","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but the movements have been in that direction, I mean.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2439.78,2442.913"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/750","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"U.S. capitalism is not immediately doomed,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2446.11,2450.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/751","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or at least no one knows enough","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2450.04,2451.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/752","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to be able to assert that with any confidence.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2451.61,2455.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/753","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I do think that there is a strong,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2455.29,2457.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/754","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and perhaps irreversible tide,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2457.63,2459.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/755","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the world running against capitalism.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2459.59,2461.713"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/756","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This will not necessarily doom it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2462.68,2464.793"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/757","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it is likely to cause radical changes in it","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2465.73,2468.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/758","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over the next several decades.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2468.64,2470.393"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/759","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We've already seen how our own capitalism is trying","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2471.29,2474.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/760","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to adjust to some of these new forces.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2474.9,2478.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/761","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the past decade price and wage guidelines and controls,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2478.15,2482.423"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/762","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"new national planning proposals that are now in Congress,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2483.48,2487.373"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/763","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"super conglomeration in the business world,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2488.66,2491.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/764","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"attacks on welfare,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2491.94,2494.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/765","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"consumerism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2494.51,2496.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/766","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"environmentalists,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2496.35,2497.743"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/767","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"tax reforms in favor of capital,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2498.89,2501.333"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/768","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"attacks on big government.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2502.46,2504.053"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/769","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"All of these are certain signs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2504.91,2507.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/770","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that capitalism is in the process","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2507.08,2509.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/771","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of radically altering its face.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2509.22,2511.543"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/772","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The most that can be said is","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2512.53,2515.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/773","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that this process is quite likely to go on,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2515.07,2518.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/774","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"until socialism is taken over,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2518.93,2521.851"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/775","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at which point, in order to comfort ourselves,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2521.851,2524.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/776","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we will recognize it as some new type of capitalism.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2524.9,2528.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/777","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2528.41,2530.58"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/778","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I am tempted to say one more thing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2530.58,2532.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/779","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"even though it goes beyond the bounds of economics.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2533.66,2536.463"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/780","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The characteristics of our age,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2537.82,2540.143"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/781","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"certain amount of lawlessness, violence,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2541.54,2545.393"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/782","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"mysticism, narcissism,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2546.96,2549.783"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/783","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all our manifestations of concentration","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2551.115,2553.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/784","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on self with little regard for others,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2553.87,2557.323"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/785","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it seems to me that these are also certain signs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2559.32,2562.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/786","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that capitalist society no longer offers worthy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2562.23,2565.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/787","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or inspiring goals that go beyond one's bodily functions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2565.5,2569.853"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/788","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Goals that could mobilize, for example,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2571.03,2573.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/789","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the energies of great numbers of people,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2573.84,2576.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/790","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and so bring them together in inspiring collective efforts.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2576.75,2581.603"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/791","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It goes now everyone for himself,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2582.8,2584.883"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/792","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a war of each against all,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2586.3,2588.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/793","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a fear of entering into any lasting relationships","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2588.37,2591.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/794","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with another human being.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2591.18,2592.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/795","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"An almost complete fragmentation of society","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2594.324,2597.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/796","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into free floating selfish monads.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2597.81,2601.023"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/797","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't see much future for such a society.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2602.35,2605.537"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/798","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The next century will surely belong","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2605.537,2607.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/799","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to other peoples and probably the Chinese.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2607.87,2612.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/800","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Thank you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2612.15,2612.983"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/801","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience claps)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2612.983,2615.711"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/802","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience claps)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2617.456,2620.206"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/803","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience claps)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=2621.927,2624.677"}]},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963","type":"AnnotationPage","label":{"en":["English [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28963/annotation/804","type":"Annotation","motivation":"subtitling","body":{"type":"TextualBody","value":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/028/963/original/AV168041_Family_Farm_in_Corporate_America_a.vtt?1622850053","format":"text/vtt","language":"en"},"target":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/028/963/original/AV168041_Family_Farm_in_Corporate_America_a.vtt?1622850053"}]},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28964","type":"AnnotationPage","label":{"en":["AV168041_Family_Farm_in_Corporate_America_a.txt [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772/transcript/28964/annotation/805","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"- [Pat] Good evening. I'd like to take a few moments before tonight's presentation to welcome you to the 1979 Institute on National Affairs. First we'd like to thank GSB for their support. It's very appreciated. And secondly, for yourselves for coming out in better weather conditions, I guess, but certainly isn't very warm. We do have a full slate of activities this week ranging from agricultural topics to urban topics in the area of economics. There will be a debate tomorrow night between Harold Bray Meyer and General Oppenheimer on the family farm or corporate America, who will serve supper. Followed by four more nights of issues on the economic health of our nation. We hope you take advantage of the programs, and I think you'll find the speakers will challenge some of your own beliefs and hopefully introduce you to some new ideas regarding our economy. There really isn't time to run down the full list of things that we have going on this week, but probably the safest thing for you to keep in mind is that there will always be a lecture at eight o'clock during this week. It'll either be in this room or in the gallery. And probably this evening, by the time we leave, there will be some brochures on the tables over here that will have a complete schedule. And there are posters around the union and campus, that will give you clues too, as how to get to where things are. As I mentioned, there will be some lectures in the gallery, and also in the gallery there's a very fine exhibit provided by the Smithsonian Institution on American agriculture from the 19th century to the present. It's a very good pictorial display. And I've just viewed it briefly myself, on Friday, and I think it's a very good representation of what agricultural was and what agriculture will be, and is today. The other events that we have scheduled is for the noon hour, if you'd like to take a departure from your usual lunch, we do have films that will be in the gallery each day and there will usually be a discussion following them. And I think you'll find that these films will tie in very well with the evening's lecture. So other than that, we might as well get on with what we're doing tonight. Our title for night is, \"What's Wrong with America's Economy?\". Our guest lecturer tonight is John G Gurley, professor of economics at Stanford. He's an author, a consultant, and I think mostly an educator. He conducts courses from elementary, to Marx and economics, and he has an excellent understanding of Chinese economy. Professor Gurley has authored \"Money in a Theory of Finance\", \"Challengers to Capitalism: Marx, Lenin, and Mao\", and \"China's Economy and the Maoist Strategy\". In just the few short hours that I've known Professor Gurley, I found him to be both personable and informative. He did tell me that the weather in San Francisco was quite cold, it was a chilly 50 degrees there, but you assume he was awakened to what cold is when he got off the plane this afternoon. So would you please give a warm Iowa welcome to Professor Gurley.\r\n\r\n- [Professor Gurley] Thank you. Thank you very much Pat. That was a, that was a very nice introduction and I especially appreciated the warmth at the end, at the end of that. I'm very pleased to have the opportunity to begin the week's discussion of this important topic. Is America's economic system, is it obsolete? And I hope that the Institute on National Affairs has a most successful series of talks this week, and I wish you all well. Now, the U.S., the U.S. economy has had really a remarkably good record during the post-war period compared to its performance in the three or four decades prior to the Second World War. I have a series of transparencies here which will give you some of the data that I'll be referring to. If you find it difficult to see these I don't think you need to be greatly concerned, I'll try to sum up the main points for you. See what this shows is that some of the main economic indicators have performed better in the post-war period from 1946 through 1977, it would also be true if we took through 1978, then they did in the four decades from 1900 to 1940. So if you take a look at real GNP, you can see that there was a higher rate of growth of that. I'll put per man hour or labor productivity was also better in the postwar period, growth rate of manufacturing output. The average unemployment rate was, despite all of our woes about unemployment to the last 10 years or so, the average unemployment rate on the whole in the post-war period was substantially lower than it was on the average before the Second World War. Now wholesale prices have not performed as well. This is, this is certainly one area that has deteriorated compared to the pre-war years. And then I also list stock prices. I want to come back, I want to come back to that. But, you can see the stock prices went up faster in the post-war period than they did prior to that. I also list a couple of things I probably won't refer to again: the civilian employment in federal government and the federal government debt outstanding. I have those items on here because several months ago, I gave a talk to the alumni of the Stanford Graduate School of Business and they were very much interested in how many people are in the federal government and the federal government debt outstanding. And they're also of course very interested in stock prices, so I've listed, I've listed all of those. I assume that this audience has no interest at all in those items. Now also, the years 1950 through 1973 were the longest sort of continuous period of growth, although with some minor interruptions that we've had in this country for some time. Also 35 million new jobs were created during the post-war period. So the people, you know, from this long run point of view, the people who are grousing about the U.S. economy perhaps do not remember the horrors of the 1930s, or the 1929 stock market crash, or the hyperinflation after World War One. Am I leaving everybody behind now, by this time? The several severe financial panics in the first 15 years of this century, and some of the very depressed years of the 1890s. I mean we had quite a record of a rather bad economic performance over a good part of that period. So the post-war period does stand out. That was a relatively, relatively good period. So whatever criticisms I, I now launch into, please put them within, within that long run framework. However, despite its own overall sterling performance during the post-war period, the U.S. economy has deteriorated during the post-war period. And that's shown on the second, on the second chart. Now here, here I list corporate profits after tax because I think this is a key indicator, I'm going to come back to this. The corporate profits after tax, in real terms, that is after adjusting them for inflation and taking them after, after taxation. Corporate profits in those terms increase by six and a half percent per year in the first two decades of the post-war period, and then fell by three and a half percent per year in the third decade. Now I also list a third column just for a reference This column is sort of the '70s. So it goes from 1969 through 1977. And again, the figures would be essentially the same if you took it through 1978. That is corporate profits during the 1970s didn't increase at all in real terms after, after taxes. Having had that big increase really in the first two decades. Then the next thing I list is gross private domestic investment. That is capital formation in the economy. Now here again you can see a deterioration. I'm not going to go through every one of these figures, I just, I'll just point out to you that there has been this general deterioration in the performance in key areas of our, of our economy. Gross national product, you can check that out. The labor productivity, that is output per man hour. The average unemployment rate, has been higher in recent years then it was in the early years of the post-war period. Consumer prices have certainly gone up more. Stock prices have performed much less well. You see from 1969 through 1977, stock prices barely went up at all. In fact, if you, you know, if you take the New York stock composite index which is the most inclusive index of stock prices on the New York stock exchange, that index started at the index number of 50 in December 1965, it's now around 56. I mean that's a 12% increase over that entire period, that's a period of 13 years. It's increased about 12%, you see? So that's just a fraction of 1% on a compound interest basis over that time. And consumer prices have about double over that period of time. So that means if you had your money in the stock market in 1965, in a representative group of stocks, and you still have that same group of stocks, that you have lost heavily in, in real terms. Now I also show the depreciation of the dollar on international markets. Well you're all aware that that's occurred in the last few years, and it did not take place in the first couple of decades of this post-war period. So again the, so again, a deterioration. Now, what accounts, what accounts for the slower output growth, and the rising unemployment, and the decline in labor productivity, over this period? Now, I, I mentioned just those because what I want to do is leave inflation off to one side, for just a moment. Because I think that's a tougher problem and I can deal now with, with relatively simpler problems. Let me state the question again. What accounts for the slower output growth, the rising unemployment, and the decline of labor productivity? Well, I think that the immediate cause of these ills is the increasing squeeze that has been placed on corporate profits. That is after taxes, and adjusted for inflation, as the post-war period has progressed. Now, you note that on this on this chart, the top line shows you the deterioration that has taken place here. And the next chart will give you a graph of the annual figures through the, throughout the post-war period. And you can see that, I didn't realize that I was going to get, I thought I wouldn't be able to see any of this, but I can now see the transparency down there, so that's just great. You can, you can see that the corporate profits rose somewhat in the first several years of the early post-war period, and then there was a very big increase, in those, up to about the mid 1960s, '65, '66. And then after that they began coming down very fast, during president Nixon's wage and price controls. In 1970, '71, the corporate profits recovered quite well. In fact I think that's, was the, one of the main purposes of the wage and price controls, was to increase corporate profits and they responded very well. But then after there was a big slump in 1974, '75, and a recovery of course, a very fast recovery after that. But, you can see that even the last figure, which is 1977, and 1978 is not much higher in real terms than the 1977 figure, that that's, those last figures do not approach the levels reached in the mid, in the mid 1960s. Now, perhaps the levels reached in the mid 1960s were abnormal. And if one thinks that, then there are different interpretations for that chart. But I do not think that one can get away from the overall interpretation that the last 10 or 15 years have really been quite different from the first 20 years, so far as corporate profits, the corporate profits are concerned. I mean, there definitely has been some sort of a deterioration here. The root cause of the profit squeeze, is the increasing strength gathered during the post-war period by the domestic and international foes and competitors of the U.S. capitalist class. These antagonists include West Germany, and Japan. You see, I'm not calling, they're not all foes, they're not all enemies. They're simply antagonists in the general sense, that they are competitors, either foes or competitors of the profits position of the U.S. capitalist class. These antagonists include West Germany and Japan, OPEC and other international cartels, global Marxism, as I'll explain in a few moments, ultra nationalist movements, the working classes, consumer movements, environmentalists, government regulators, and others. All of these groups have weakened the ability of U.S. capitalism to extract profits from its domestic and international operations. Now the next chart shows a, some of the relations among the groups that I've just listed. They show it, it shows for example, in red, some of the foes, competitors, antagonists that I have in mind. Now all I'm trying to point out here is that these are not exogenous forces imposed on an otherwise peaceful scene. I mean many of these foes, competitors, and whatnot come out of the very workings of the capitalist system itself. I mean they were spawned by capitalism and oftentimes strengthened by the very workings of the capitalist system. So my main point here is that many of these groups are part and parcel of the workings of the very mechanism of capitalism. Now let me explain a little bit about that thought, that the antagonists are not simply outside casual intruders into an otherwise peaceful scene. Marxism sprang from industrial capitalism and its further development into big scale, or monopoly, or oligopoly capitalism, and then into imperialism. The Marxism actually was spawned out of that whole capitalist, that whole capitalist development. Since global capitalism develops unevenly, the champions and their challengers are being continuously recreated. In recent years, Japan and West Germany have come up very fast to challenge the United State. Tomorrow, Brazil will take on the new champion. Capitalism also creates its domestic foes and often strengthens them. Consumer movements arise from relative economic affluence and from the increasing degradation of work which by crowding workers in the dead end, boring, and largely meaningless tasks have turned them away from what should be the most rewarding activity of all, and toward leisure time, weekends, and consumption. As a consequence, consumer grievances and environmental concerns assume more importance over time and radical movements are more likely to arise in this area, then at the workbench. People perceive exploitation increasingly as false advertising, shoddy and lethal products, exorbitant prices, and destruction of their environment; that is their playgrounds. Capitalism also creates booms and busts, wealth and poverty, which are necessary over the long run for the continual generation of adequate profits. However, poverty and depressions increasingly become more severe as industrial capitalism develops, and so threatens the class hegemony of the capitalists. The amelioration of increasingly severe capitalist crises was necessary to save the system. But the solution, which came in the 1930s in the form of Keynesianism, eventually served to strengthen the working class, who subsequently used their strength to rest concessions from their employers. More on this in a moment. Finally, the general weakening of world capitalism, from the forces that I just noted, opens the way for increasing independence of former colonial lands, for nationalist movements, and for international cartels aimed at getting larger shares of the total income pie. All of these forces, all of them have come together in the post-war period to produce finally, a profit squeeze which in turn has dampened capital formation, caused slower output growth, higher unemployment, and the decline in labor productivity. The accelerated spread of Marxism around the world, like I said, now includes one-third of the world's land area, and one-third of the world's population, has contributed heavily to these ills. The Marxist sweep has transformed immense areas that formerly were impoverished into rapidly developing nations that are a vigorous competitors with capitalism, for the world's resources. The diffusion of Marxism has also reduced capitalism's control over these resources, diminished its access to cheap labor supplies, raised its cost of defending the areas left to it, and increased its risks of operating in much of this reduced space. Moreover the spread of Marxism has greatly enhanced the bargaining power of many lesser nations against the advanced capitalist countries by providing options to them. It has encouraged smaller nations to aim for greater control over their own resources. And it has provided opportunities to international cartels to control supplies and prices of vital resources. In addition, the global diffusion of Marxism, and this despite its fragmentation, has bolstered communist parties and radical movements within some of the advanced capitalist countries. The success of Marxism has also made it imperative for capitalism, if it is to survive, to compete hard by maintaining high growth rates and generous welfare programs with the aid of Keynesian policies, which have in turn strengthened labor struggle against capital. Now those forces and the relationships among those forces are outlined in charts five, the next chart. And there you can see that I list above the increasing strength of antagonists. So those are all the different groups that I just went through, leading to growing weakness of the U.S. capitalist class, deterioration of corporate profits which in turn has led to a decline in capital formation. The expected rates of return decline and capital formation then does not grow as rapidly. And that in turn has been responsible, at least partly responsible, for the decline in labor productivity. Labor has less capital than it otherwise would have, to work with. And labor productivity is down. Although I already gave another reason for the decline of labor productivity too. And it has led to the decline in GNP growth rate, rise in unemployment, and so forth. I think the rising unemployment is also due to some other, some other factors, including just a very general one, the change in lifestyles. But then I think, some of that I think can be traced to the things I've already mentioned. Now, let me come to a more difficult question. What accounts for the accelerated inflation during the post-war period? The root cause of this lies in two related fields, the first is the area just discussed. That is the increasing strength gathered during the post-war period by the domestic and international foes and competitors of the U.S. capitalist class. This has unleashed and intensified struggles between capital and its growing antagonists and among various strata of capital itself, that is interest receivers against profit receivers and so on, at home and abroad, over sharers of national and world output, which have contributed to the inflationary spirals throughout the capitalist world. Each claimant has repeatedly raised prices of whatever it controls in attempts to boost its share of total income. Since the antagonists have become more numerous, fiercer, and more evenly matched, inflation has gotten worse. The enhanced strength of the working class, for example, is the result of prolonged high levels of employment and expanding income maintenance programs for the unemployed, the aged, and the needy. Both of these structural changes grew out of the Great Depression, when the capitalist system itself was in jeopardy, owing to the inability of the capitalist classes to modify and limit their crises. Keynesian monetary and fiscal policies were designed to remedy that insufficiency, and in the event they did with some success. But within success, as the Dallas say, lurketh failure. While the struggles between capital and labor decreasingly took the form of boom and bust, they more and more broke out as wage price spirals, which reflected battles for increased shares of national income, but battles waged by a working class that could now fight, now fight more nearly on a par with the employers. Furthermore, the income maintenance programs have prevented slow death among the unemployed, and so have lowered their need to offer themselves to employers for any miserable pittance, or under any degrading condition. These programs therefore have raised the demand for output, because of the extra income, while lowering the supply of cheap labor to produce it. This is one reason why capitalism requires more unemployment today to achieve the same restraining effect on wages and prices. In summary, the increasing strength of U.S. capitalism's antagonists has led not only to these inflationary struggles, but also to the weakening of the U.S. capitalist class itself. And so the slower growth, and the other ills already discussed, in this way inflation and unemployment, have a common basic source. The second root cause of the rampant inflation is the unprecedented worldwide economic boom, supported by ever larger government spending that occurred during the first 25 years of the post-war period. This not only helped, in fact, that was unprecedented. In, almost any time in the past, you could find certain areas of the world moving ahead, quite rapidly. But other areas, including, you know millions of people stagnating, or actually going backwards. I mean, that was the general pattern around the world up to 1945. Then almost everyone began developing. Some of course not progressing very fast, but still very few stagnating, fewer going backwards, and most of the world actually engaged in economic development with rising, with rising demands. Now that not only helped to strengthen many of U.S. capital's antagonists. For example, it helped to propel Japan and West Germany, and others to the front, but it also placed great pressure on supplies of labor, food, raw materials and natural resources. Such continuing pressure added to the burst of inflation of the last 10 years. Now I'm going to show you the, I mean, we'll show you the next chart, but don't panic when you see it, just relax. Okay. Like just take a piece of it at a time. Look at the, look at the blue, at the blue parts in the middle, the increasing strength of the antagonists of the U.S. capitalist class, cause this is what I've already discussed, and that leads to the weakening of the U.S. capitalist class, slower growth, et cetera. Okay, now that's a story, that's a story already told. But now the link to the inflation story is shown. That is that that increasing strength of antagonists of the U.S. capitalist class, has led to intense struggles, and more even struggles, at home and abroad among these various contending groups, over sharers of domestic and world output. That has contributed to the accelerated inflation. But an equally important contributor to the accelerated inflation is the unprecedented worldwide economic boom that has led to increasing pressures on supplies of labor, food, raw materials, and natural resources. So both these things have led into the accelerated inflation. I also show in red, off to the left, that the global spread of Marxism, and I'm sure there are other factors too. In fact, I tried to, I tried to enter one other factor here, have led to the decline of the, what Marxists called the decline of the U.S. empire, but it's really sort of a loss of control over the world's resources. The United States of course can still trade for them, but the United States increasingly has lost control over the prices and over the supplies of vital resources in the world. And this is a sure indication of a loss of power, a loss of power in the world. That in self, that itself has led to balance of payment's deficits, because of particular, because of oil prices, oil prices going up so much, and all of this to the depreciation of the dollar on international markets. Wall Street Journal has it \"M1, M2, M3, M4\", sometimes you can't tell the page numbers in the Wall Street Journal from the type of money supply that they're talking about. People who discuss inflation solely in these terms are looking at a superficial factor and missing the great story of the era. Now there's the immense global structural changes that are now going on under our very noses. The monetary authorities are simply accommodating these global forces while trying to maintain some semblance of economic growth, which incidentally is, is essential to the health of, of the capitalist system. It has to keep growing or it's going to die. And while prices are being pushed up all around by these more and more equal contending forces, pushing up the prices of the things they control, the monetary authorities accommodate themselves to those structural factors as best they can in order to at least get enough money supply out there to maintain some semblance of, of economic growth. In view of what is really going on in the world, it is, I think, almost pitiful the way financial columnists cling to such inadequate explanations of such deep rooted problems. Now what can be done to reverse these trends? Well you just undo all the things , just undo all the things I've mentioned. Essentially you know, what's needed here, being if one wants to improve the performance of capitalism, as most people do, some people don't, but if you want to improve the performance of capitalism the thing to do is to transfer income from other classes and groups at home and abroad to the U.S. capitalist class. That's the easiest way of raising their own expected rates of return, increasing domestic capital formation, giving more up-to-date technology to the labor force for higher labor productivity. It's keeping, our keeping our prices down, or keeping them from rising as much as they otherwise, as they otherwise would. Or, to express it perhaps in a somewhat broader way, to that the domestic and international antagonists of the U.S. capitalist class must be weakened. And of course, one way of weakening them is to transfer income from them, to the U.S., to the U.S. business, to corp-, to corporate profits essentially. And that will, I think it will have a magic effect on the performance of the economy. Now that, plus some other things, are shown in chart number seven, the final one I have. You know, don't copy down every, everything here. Essentially it shows three things, that there are various ways of raising corporate profits. You can reduce taxes on capital, for example. Reduce capital gains, taxation, reduce the corporation income tax, give even more accelerated depreciation, or investment tax credits, and all sorts of things. You can hold back real wages in various ways to leave more room for an increase in, in corporate profits. And there are still other ways of doing it. I also list, because many people think this is a very important thing, to reduce government interference with business. But I think that's easier said than done for the reasons I've already mentioned. Namely that it's not just an outside intruder, I mean it's not just part of a conspiracy to harass business. More and more regulation of business, by the government, grows out of the very workings of the system itself. It grows out of the problems that have been created by the workings of the capitalist system, the problems that it generates, and the problems that it's not able to solve within its own institutions, within its own environment, and hence some outsider, the government, has to step in with programs to help solve these problems. Of course, the solutions oftentimes generate still more problems, which then call for still more government interference, and on and on you go. But the point is, I think, I think the correct point is that that these grow out of the system and do not represent some outside exogenous conspiracy by government administrators. And then finally strengthen the international position of the U.S. capitalist class by undercutting somehow Japan's position, or West Germany's position, or France's in the international markets. You know, maybe getting, giving full recognition to China or something like that, so you could get a foot in there before the French and the Italians get too well-established in the Chinese market. There are lots of other ways, lots of other ways of doing it too, including force. Not of course against West Germany, or Japan, but I'm talking about, I guess, other foes, antagonists, ultra nationalist movements, revolutionary movements of one type or another. In the post-war period we have used force quite a few times. It's, I don't want the claim that it's the top priority of, you know, of all the ways of solving a problem that, that we are trigger happy. I don't think, I don't think we are. But, if problems cannot be solved in other ways, then there hasn't been all that much hesitation in using force to solve some of these problems. So I list it, because in fact it has been one of the favorite methods used over the years. Now I imagine that some of the adverse trends that I have discussed may be modified, or even reversed, in the near future with the use of some of the counter measures that you see, that you see in front of you. In fact, a lot of these things have already taken place. I mean, I, I did get together a list like this, a much more detailed list of specific types of tax policies that could be carried out to increase corporate profits and whatnot, in 1974 and 1975. And I, I note that some of these have indeed already been carried out, maybe not to the full extent that they should in order to do a lot of good, but the movements have been in that direction, I mean. U.S. capitalism is not immediately doomed, or at least no one knows enough to be able to assert that with any confidence. But I do think that there is a strong, and perhaps irreversible tide, in the world running against capitalism. This will not necessarily doom it, but it is likely to cause radical changes in it over the next several decades. We've already seen how our own capitalism is trying to adjust to some of these new forces. In the past decade price and wage guidelines and controls, new national planning proposals that are now in Congress, super conglomeration in the business world, attacks on welfare, consumerism, environmentalists, tax reforms in favor of capital, attacks on big government. All of these are certain signs that capitalism is in the process of radically altering its face. The most that can be said is that this process is quite likely to go on, until socialism is taken over, at which point, in order to comfort ourselves, we will recognize it as some new type of capitalism. I am tempted to say one more thing even though it goes beyond the bounds of economics. The characteristics of our age, certain amount of lawlessness, violence, mysticism, narcissism, all our manifestations of concentration on self with little regard for others, it seems to me that these are also certain signs that capitalist society no longer offers worthy or inspiring goals that go beyond one's bodily functions. Goals that could mobilize, for example, the energies of great numbers of people, and so bring them together in inspiring collective efforts. It goes now everyone for himself, a war of each against all, a fear of entering into any lasting relationships with another human being. An almost complete fragmentation of society into free floating selfish monads. I don't see much future for such a society. The next century will surely belong to other peoples and probably the Chinese. Thank you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/43679/file/116772#t=0.0,2633.784"}]}]}]}