In the late 19th century there was a major union organization, Knights of Labor, and also a radical populist movement based on farmers. It's hard to believe, but it was based in Texas, and it was quite radical. They wanted their own banks, their own cooperatives, their own control over sales and commerce.

People have no human rights, only the rights that they can gain on the labour market. Above all, wealth and power have to be protected.

Enormous and growing parts of the population are basically superfluous for profit-making purposes. Along with this, the jail population is increasing very rapidly; it's the highest in the industrial world by far. New and onerous crime bills are being passed to deal with this superfluous population.

Sometimes the former forces are in the ascendance, and "democratic governance" is eroded, though anyone familiar with intellectual history would expect that the slogans will be passionately proclaimed as they are drained of substantive content. We happen to be living in such an era, but as often before, there is no reason to suppose that the process is irreversible.

I think that the real tragedy of Greece - aside of the savagery of European bureaucracy, Brussels bureaucracy and northern banks, which was really savage - is that the Greek crisis didn't have to erupt. It could have been taken care of pretty easily at the very beginning. But it happened and Syriza came into office with a declared commitment to combat it, and in fact as I recall they actually called a referendum, which horrified Europe.

Take a look at the Supreme Court decision that just authorized an effort by U.S. claimants against Iran for terrorist acts. What are the terrorist acts? The terrorist acts are bombings of U.S. military installations in Lebanon and Saudi Arabia, which Iran is claimed to have something to do with. Well suppose they did. That's not terrorism. I mean if we have a military base in Lebanon that while we're shelling Lebanese naval ships, the Navy is shelling Lebanese installations and somebody attacks [that's not terrorism].

There was a time traditionally - say, GM in the 1950s - it was trying to develop a consumer base that would be loyal and lasting and they were thinking in terms of an institution that would remain and grow and thrive in the society. By now, a lot of the investment firms - bankers, hedge funds - are perfectly happy to destroy what they're in and come out with huge, tremendous benefits. That's a new stage of capitalism.