The times are too difficult and the crisis too severe to indulge in schadenfreude. Looking at it in perspective, the fact that there would be a financial crisis was perfectly predictable: its general nature, if not its magnitude. Markets are always inefficient.

The respected intellectuals are those who conform and serve power interests.

Adam Smith is an egalitarian, he believed in equality of outcome, not opportunity. He is an enlightenment figure, pre-capitalist. He says, suppose in England, one landowner got most of the land and other people would have nothing to live on. He says it wouldn't matter much, because the rich land owner, by virtue of his sympathy for other people would distribute resources among them, so that by an invisible hand, we would end up with a pretty egalitarian society. That is his conception of human nature.

It's kind of interesting and sick that the intellectual culture called the 1960s, "time of troubles," a dangerous period in which a lot of harm was done to the society. And the reason is because we were civilized and that's dangerous. That increased the commitment to democracy, to rights and so on, and this left people much less obedient.

That's a point that Dan Ellsberg has made for years. He said it's kind of like if you and I go into a grocery store to rob it, and I have a gun. The guy may give you the money in the cash register. I'm using the gun even if I don't shoot. Well that's nuclear weapons - essential to post-war deterrence - they cast a shadow over everything.

If you have worker-owned and worker-managed enterprises, you've got a different sociopolitical system.

The rich and powerful countries are trying to wreck as much as possible. You know, go off the cliff as soon as you can. Extract every drop of hydrocarbons off the ground and destroy the environment. At the opposite extreme are countries like Bolivia and Ecuador, indigenous people around the world, and first nations in Canada and tribal people in India, campesinos in Colombia... They're trying to save the commons.