Let s Make Money

en
00:12:30 What I appreciate about India
00:12:33 with a transparent legal system.
00:12:36 If you buy a plot of land,
00:12:41 Nobody will take it from you
00:12:43 by demanding new taxes
00:12:47 These are the remnants
00:12:54 This legal system is
00:12:57 It's an important
00:13:03 We are very satisfied with it.
00:13:22 My name is Mirko Kovats,
00:13:25 I built up one of the biggest
00:13:30 over the past ten years.
00:13:31 Nobody is calling for the state here.
00:13:35 You have to take care of yourself.
00:13:45 I am always astonished
00:13:50 about the problems
00:13:53 They never stop discussing
00:13:55 how to take things away
00:13:58 All that does not count here.
00:14:00 The only thing that counts here
00:14:19 My name is Sujatha Raaju.
00:14:21 I have completed commerce studies
00:14:26 We are here in Chennai,
00:14:31 It was formally known as Madras.
00:14:34 It is populated
00:14:37 One third of the population
00:14:42 That is, they live
00:14:45 Some of them live
00:14:48 living on the pavements.
00:15:12 In Europe students are interested
00:15:16 Everybody wants
00:15:19 Here they are studying
00:15:22 I ask myself who will be where
00:15:26 Will they be richer?
00:15:27 Will we be poorer?
00:15:29 I hope not.
00:15:44 The people
00:15:48 - as always if you have a company
00:15:51 investors from London,
00:15:54 in pension funds and insurances.
00:16:01 The factory is already too small.
00:16:03 We think about moving and
00:16:35 Competition forces us
00:16:38 all very unpleasant.
00:16:40 But we are under pressure
00:16:46 We have to compete with people
00:16:49 who get very small wages,
00:16:53 but have to earn their living.
00:16:57 Of course,
00:17:00 I am sure that this overtime
00:17:07 It is quite simple,
00:17:09 We have no choice.
00:17:13 Very tidy.
00:17:16 Was this difficult to achieve?
00:17:20 I had to put a lot of effort into it.
00:17:23 But it works, as we see.
00:17:30 I am really astonished.
00:17:33 Are you having any discussions
00:17:35 Fortunately not, up to now.
00:17:38 I try to take into account
00:17:41 our employees' social situation.
00:17:43 How much does a welder earn?
00:17:45 The equivalent of
00:17:50 That's what he earns?
00:17:52 That is what he earns.
00:17:53 He costs us about 25% more.
00:17:56 250.
00:17:58 What about an engineer?
00:18:00 Around 8-10 times more.
00:18:03 That makes 2500.
00:18:05 That is far below Europe,
00:18:08 but not cheap any more.
00:18:11 You have to consider
00:18:16 The price increase
00:18:21 but 10-15% in the next years.
00:18:23 That's something
00:18:27 That means we have to be efficient.
00:18:30 We can't afford to be generous.
00:18:34 The costs will increase.
00:18:35 I worked in order to minimize
00:18:39 and to reduce the additional costs.
00:18:42 We invested
00:18:46 in order to reduce the costs
00:19:27 We have to buy it at any price.
00:19:31 It will only become more expensive.
00:19:33 The prices won't fall.
00:19:55 Indians pay their taxes.
00:19:58 Taxes are collected by the government
00:20:01 revenue tax, water tax,
00:20:05 property tax
00:20:07 that are collected
00:20:10 But this revenue
00:20:13 in the form of grants.
00:20:15 And the government lacks
00:20:18 to take care of the social welfare
00:22:11 Environmental and social standards
00:22:17 The costs to raise these standards
00:22:20 cannot be paid by countries
00:22:25 This is reality - like it or not.
00:22:28 The majority of people are poor.
00:22:30 And they will stay poor
00:22:34 They have to stay competitive
00:22:36 Therefore, I think that, except
00:22:42 things won't change much
00:22:46 because people can't afford it.
00:22:55 Flourishing economic growth
00:22:57 with the people or the society.
00:23:02 Economic growth is only for
00:23:06 and for the middleman
00:23:11 10 years ago,
00:23:13 if the income of the family
00:23:16 they were able to save
00:23:19 But those days are gone.
00:23:22 Today, even if they earn 20000,
00:23:25 they are not able to save
00:23:28 There is a lot of foreign culture
00:23:31 and people are getting
00:23:34 following all the ways
00:23:38 But poverty
00:23:40 There are still poor people.
00:23:43 This can be eradicated only,
00:23:44 if there is a good political system
00:24:17 My name is Kalaiselvan.
00:24:19 I am in the 7th class,
00:24:22 I have been living in the slum
00:24:24 When I am grown up,
00:24:28 and I want
00:27:11 My name is Gerhard Schwarz.
00:27:13 For 14 years,
00:27:16 of the economic section
00:27:20 I also teach
00:27:27 Besides, I am President
00:27:32 of the Friedrich August
00:27:35 Friedrich August von Hayek
00:27:40 the most important liberal economist
00:27:44 He was born in Austria
00:27:47 and worked in England,
00:27:59 We are on our way from Vevey
00:28:04 to Mont Pèlerin.
00:28:07 Meaning "Pilgrim's Mount".
00:28:10 It is a little village
00:28:16 In 1947 some of the most important
00:28:22 European and American thinkers
00:28:28 to reflect upon the future
00:28:55 The Mont Pélerin Society was founded
00:29:01 The founders'goal was
00:29:04 an intellectual network.
00:29:07 They did not want to make politics,
00:29:11 but wanted to influence politics
00:29:16 The Mont Pélerin Society
00:29:21 with Ronald Reagan.
00:29:24 In his government
00:29:27 there was a great number of members
00:29:33 Sometimes 20 or even more members.
00:29:38 Approximately at the same time
00:29:45 drew on Hayek's ideas
00:29:50 and the ideas of British members
00:29:53 of the Mont Pélerin Society.
00:34:10 Here we are at the entrance
00:34:14 All the soils are ruined.
00:34:17 There is total erosion,
00:34:21 This is the result
00:34:27 The cotton is gone,
00:34:30 the money for the cotton is gone.
00:34:32 The only thing left is this soil,
00:34:38 I am called Yves Delisle.
00:34:42 I am an agronomist by profession.
00:34:46 I studied
00:34:55 I have been working directly
00:35:03 20 years is quite a long time.
00:35:08 But up to now,
00:35:11 that the situation
00:36:00 These people earn
00:36:24 We are anxious!
00:36:26 We are fed up.
00:36:29 Our children cultivate cotton,
00:36:32 What shall we do?
00:36:35 We are reduced to doing nothing.
00:36:37 To improve our lives.
00:36:39 Go and tell those
00:36:42 to buy the cotton at a fair price.
00:36:45 So that Burkina and we
00:36:50 Old women like me work the whole
00:36:55 But what can we do?
00:36:56 Try to understand us.
00:36:59 We beg you.
00:37:02 You see how tiring the work is.
00:37:03 If we managed to pay back
00:37:43 The quality of cotton is the best
00:37:47 The production costs
00:37:50 The cotton is clean,
00:37:55 Nevertheless, the price is very low
00:38:54 Every year, the USA subsidize
00:38:59 with $3 billion.
00:39:02 If the Americans are liberal,
00:39:05 But why do they subsidize
00:39:08 This isn't liberalism!
00:39:09 In reality,
00:39:11 and impose liberalism on us.
00:39:14 They apply two different standards!
00:39:15 It is like if you have a football field
00:39:18 Team A has the best shoes
00:39:23 Team B - and these are the Africans,
00:39:27 have to play
00:39:30 Do you consider this
00:39:59 In the 1980s the World Bank imposed
00:40:03 restructuring programmes
00:40:06 What does this mean for the country?
00:40:09 Raw materials are exported,
00:40:12 cotton in the form of raw cotton
00:40:14 without added value.
00:40:19 All the World Bank and the investors
00:40:22 is sucking raw materials
00:40:27 Cotton, timber, coffee, cacao, gold,
00:40:33 In the past, the colonialists forced us
00:40:37 Now the World Bank
00:40:40 with money to plant cotton.
00:40:59 How can you buy medicine?
00:41:03 You need foreign currency.
00:41:05 The cotton can bring us
00:41:09 I told you that cotton makes the living
00:41:15 But if you calculate that in Africa
00:41:17 every person supports
00:41:22 multiply by 2 million
00:41:24 and you quickly realize that
00:41:29 If the USA did not subsidize
00:41:33 Burkina Faso would make profits
00:41:36 of at least 80 billion CFA a year.
00:41:40 The bilateral aid,
00:41:43 the credits from the EU,
00:41:46 USA and Japan
00:41:48 represent altogether only
00:41:52 You see, we would not need to get
00:41:55 The work of the farmers alone
00:41:58 to construct schools and roads
00:41:59 in order to give a better future
00:42:04 This is the dilemma we are facing
00:42:52 Here you see women
00:42:59 They sell the soil or pebbles
00:43:03 in order to earn
00:43:10 According to the
00:43:12 there are only 3 poorer countries.
00:43:16 62% of the population
00:43:18 has less than 1 dollar per day
00:43:22 Among these 62%, a large part
00:43:25 is living in destitution.
00:43:29 That is even worse than poverty.
00:43:36 40% of the children
00:43:40 Out of those
00:43:42 only 1-2% reach university.
00:43:48 Life expectancy here is 42 years.
00:43:55 Speaking about misery,
00:43:59 that the most destitute social group
00:44:06 Some women go to the quarries.
00:44:09 In that way they can earn
00:44:11 about 50 euro cents per day.
00:00:14 Every Burkinan born today
00:00:18 Even those who are born
00:00:22 If we don't produce cotton
00:00:26 every African living in Burkina
00:00:31 but also those living in Mali,
00:00:35 will emigrate to Europe.
00:00:38 We will have no choice but to go.
00:00:42 But if the West doesn't stop
00:00:47 we will be forced to go.
00:00:49 If we go,
00:00:51 they can construct
00:00:55 we will nevertheless come to Europe.
00:01:14 All liberals in the world think
00:01:19 for goods,
00:01:21 money and services.
00:01:24 It becomes more complicated
00:01:27 You have to think about
00:01:30 introducing
00:01:33 as you demand membership fees
00:01:37 If you become a member
00:01:40 you have to pay membership fees,
00:01:44 not only monthly
00:01:48 or annual fees like taxes.
00:01:51 This is because
00:01:55 the club house
00:01:58 Otherwise
00:02:03 from something
00:02:40 20 years ago,
00:02:43 the financial groups,
00:02:48 began to make a grab
00:02:50 for public goods.
00:02:55 Goods actually belonging
00:03:01 and to the citizens,
00:03:05 pay their rent, water rates, etc.
00:03:14 That is the whole point
00:03:19 We are sitting in
00:03:24 Every citizen assumes
00:03:28 that the trams belong
00:03:32 But this is not the case.
00:03:36 This tram belongs
00:03:47 Some years ago, the City Council
00:03:54 to sell its trams
00:04:01 They got a lot of money for them,
00:04:04 more than $1 billion.
00:04:06 But the City of Vienna
00:04:10 Instead, the money was transferred
00:04:13 to banks in England and elsewhere.
00:04:17 They took the money
00:04:18 and for years to come will pay
00:04:24 periodic leasing instalments
00:04:29 so that the City of Vienna
00:04:33 to use the trams.
00:04:36 Can you imagine that?
00:04:51 The state is the community
00:04:55 We are the state.
00:04:58 This applies at least
00:05:00 In order to organize
00:05:04 the state needs public goods:
00:05:06 Schools, universities,
00:05:08 public transport, etc.
00:05:12 In this context,
00:05:15 what is going on
00:05:19 "Privatization" originates
00:05:22 which means "to deprive".
00:05:26 In the process
00:05:28 public goods
00:05:32 by private investors.
00:05:35 Sometimes they even receive them
00:05:39 This is nothing else
00:05:41 than depriving society
00:05:45 You could sum it up as follows:
00:05:48 Society is deprived of a certain good
00:05:51 that the private investor
00:05:56 for reasons of profit.
00:06:17 This strange system called
00:06:22 has been widely applied,
00:06:24 not only in the case
00:06:28 The Austrian Federal Railways
00:06:32 sold their trains
00:06:38 The City of Innsbruck
00:06:44 Since we live in the era
00:06:48 this didn't only take place in Austria,
00:06:51 but also in Germany, the Netherlands
00:06:55 The fact that politicians sanction
00:06:59 is sometimes due to ignorance.
00:07:05 Those who understand,
00:07:07 care only about the very
00:07:11 They are not interested
00:07:13 This short-term attitude,
00:07:18 the lack of a will to take
00:07:22 - knowing it will be up to others
00:07:26 is characteristic
00:07:30 In the neo-liberal era,
00:07:32 everything is reduced
00:07:37 to making the highest profits
00:07:44 And this at any price.
00:19:18 Over the past 10-15 years,
00:19:21 a dramatic change
00:19:24 took place due to globalization.
00:19:27 Millions of
00:19:32 had their earnings under pressure.
00:19:35 They no longer got
00:19:38 Globalization made them work for less.
00:19:44 That led to a considerable shift
00:19:49 in favour of capital.
00:19:57 This huge quantity of money
00:20:05 That led to a dramatic abortive
00:20:11 A new industry emerged:
00:20:14 financial services:
00:20:17 investment bankers:
00:20:19 private equity funds: hedge funds.
00:20:24 This new industry
00:20:27 It earns piles of money,
00:20:34 but by staking foreign money.
00:20:39 For each dollar and euro
00:20:43 they get a commission.
00:20:50 Cologne is in a privileged situation
00:20:57 My name is Anton Schneider.
00:21:00 I am partner in a small
00:21:04 That means
00:21:08 We invest it
00:21:12 in enterprises we restructure
00:21:17 The private equity industry
00:21:21 because normally
00:21:25 with rather low equity capital.
00:21:28 The purchase price
00:21:32 These debts are merged
00:21:36 That way, the enterprises
00:21:39 have to service huge debts.
00:21:42 They do not have much money
00:21:47 That works as long as
00:21:49 as long as there are high profits.
00:21:53 As long as there is
00:21:56 As long as the enterprises
00:21:59 have made enough
00:22:05 But in many cases,
00:22:07 The purchase prices
00:22:12 They were financed
00:22:14 with a huge amount
00:22:17 The risk is that the enterprises
00:22:19 cannot pay back their debts.
00:22:22 In that case, the banks
00:22:25 The enterprises are fleeced of
00:22:30 So they can't do
00:22:33 Develop products, invest,
00:22:37 That is why
00:22:41 Unfortunately, I think
00:22:47 The whole financial system
00:22:51 And that happened for 2 reasons:
00:22:55 First, those who possess the capital
00:22:58 Second, the managers of the capital
00:23:01 get commissions.
00:23:04 The riskier
00:23:09 the more they profit
00:24:35 Hello.
00:24:38 Welcome to the El Algarrobico Hotel.
00:24:41 We are in Spain, in Andalusia,
00:24:44 in Almeria,
00:24:46 in the village
00:24:48 The hotel is situated
00:24:51 in the National Park
00:24:55 beginning in the west over there.
00:24:59 This is an important marine
00:25:08 We are fighting for the preservation
00:25:12 of the climate and fresh air,
00:25:15 and for the preservation
00:25:17 living on land and in the sea.
00:25:19 This hotel is an important project.
00:25:36 This hotel is the first
00:25:39 foreseen for this region.
00:25:43 In addition to this,
00:25:47 and a limited number of flats.
00:25:51 In the first phase,
00:25:54 Later there will be 1500 flats
00:26:16 My name is Miguel Angel Torres.
00:26:18 I am a public servant
00:26:22 For 18 years
00:26:26 the construction of buildings
00:26:28 on the "Costa del Sol".
00:26:32 This is the "Parque Victoria".
00:26:34 They are constructing 4000 flats.
00:26:37 Mostly, they are built
00:26:43 That way the real estate societies,
00:26:46 enterprises and European banks
00:26:49 can reckon with an annual profit
00:26:52 of about 20%.
00:26:56 A traditional investment in a bank
00:27:00 brings a profit of only 5-6%.
00:27:03 Therefore the buildings here
00:27:08 are not built for living in,
00:27:11 not even during the holidays.
00:27:13 They are just built in order
00:27:20 After the whole process,
00:27:23 we will have thousands
00:27:26 of empty flats
00:27:28 which profited people
00:27:32 and who don't even live here.
00:29:21 If you have a pension fund
00:29:24 it is likely that the money is invested
00:29:27 in one of these housing estates
00:29:29 These flats,
00:29:31 are empty the whole year long.
00:29:36 Young Spanish people
00:29:42 The cost of these apartments
00:29:45 than anything they can afford.
00:29:51 The upkeep of these buildings,
00:29:54 which are of very poor quality,
00:29:56 the water and the utilities
00:29:58 are paid by the Spanish state.
00:30:00 We have no advantage whatsoever
00:30:05 from the 800000 flats
00:30:39 Spain is one of the countries
00:30:43 where the bubble
00:30:46 became most apparent
00:30:52 A real storm of urbanization,
00:30:56 a"cement-tsunami" is ruining
00:31:46 Here we can see one
00:31:50 all of them are connected
00:31:53 There are hundreds
00:31:57 a country where
00:32:01 only very few people
00:32:07 How is this possible?
00:32:10 This is due to the big
00:32:14 in products of this type.
00:32:17 The value of these real estate
00:32:21 if they are located
00:33:01 This is absolutely artificial.
00:33:06 We are creating a green space
00:33:10 in the midst of the desert.
00:33:11 To do so,
00:33:15 A golf course of this type
00:33:18 consumes the same quantity
00:33:21 as a town of 20000 inhabitants.
00:34:11 7 of the 11 most important
00:34:14 in the world are Spanish.
00:34:16 Some of them are linked
00:34:21 The biggest Spanish
00:34:25 is directed by the former president
00:34:43 The extent of construction
00:34:48 Of the first kilometre
00:34:51 80% is covered with buildings.
00:34:54 They are beginning to occupy
00:35:05 At the moment,
00:35:06 the construction works
00:35:09 because our activities
00:35:12 to the authorities
00:35:15 claiming that we don't have
00:35:19 the necessary permits.
00:35:25 I hope and I wish that the judge,
00:35:27 after having confirmed the legality
00:35:30 will soon allow us
00:35:33 for which we already have
00:35:36 reservations from all over Europe.
00:36:10 The building sector
00:36:14 mainly among immigrants.
00:36:17 The people coming from
00:36:22 work for the lowest wages.
00:36:26 This way, the people
00:36:29 spend their black money
00:36:32 on paying
00:38:20 Why doesn't anybody do something
00:38:22 about this abortive development
00:38:26 This question is difficult to answer,
00:38:28 since many are suffering from it,
00:38:32 including the national economy,
00:38:35 of a new global economic crisis.
00:38:38 Despite of all this,
00:38:40 Even now, one year
00:38:42 there aren't any new regulations.
00:38:45 That way, these financial excesses
00:38:48 On the contrary,
00:38:51 from the bank of issue to the system,
00:38:55 so that the system won't collapse.
00:38:58 That means they use
00:39:01 to cover the bets.
00:39:04 In order to provide a basis
00:39:09 who bleed the system,
00:39:12 so that their institutes
00:39:32 It seems that time after time
00:39:34 catastrophes overtake humanity.
00:39:38 After each catastrophe,
00:39:41 the rules are newly defined
00:39:43 in order to avoid such catastrophes.
00:39:45 After the world economic crisis,
00:39:47 completely new rules for banks
00:39:50 The whole banking system
00:39:54 to avoid something like
00:40:04 Over the past years, a new
00:40:08 purporting that we don't need
00:40:11 because that the market
00:40:14 So the public control authorities
00:40:18 that for the financial system
00:40:23 Everything has been
00:40:27 The sort of financial industry
00:40:30 is completely senseless
00:41:00 It's the media
00:41:01 that choose today's leaders.
00:41:04 They give thumbs up or down.
00:41:07 So people are eager
00:41:11 they try to be in the limelight.
00:41:15 They are elected less and less
00:41:18 due to serious political concepts.
00:41:25 This capacity to please the media
00:41:27 has become a crucial criterion
00:41:33 although it is the exact opposite
00:41:37 you need to be
00:41:40 So we have
00:41:44 who take crucial political decisions
00:41:49 and who very quickly
00:41:53 of developments determined
00:50:12 Our opinion
00:50:14 is that it is
00:50:17 to protect a person's privacy.
00:50:19 This protection is part
00:50:24 This protection
00:50:28 in the case
00:50:32 Tax avoidance is considered
00:50:36 but not serious enough
00:50:40 to suspend privacy.
00:50:44 Neither that of our own citizens,
00:50:50 Switzerland would never
00:50:54 its own citizens
00:50:58 but on the slightest suspicion
00:51:02 of tax evasion
00:51:04 or tax avoidance
00:51:06 suspend foreign citizens'privacy.
00:54:21 The Universal Declaration
00:54:25 "All human beings are born free
00:54:30 If we want to stick to
00:54:34 the distribution of wealth
00:54:39 Distribution should be in favour
00:54:44 and not in favour
00:54:46 Only then can you preserve
00:54:51 If we do not change the system,
00:54:52 there will be
00:54:58 selection mechanisms
00:55:02 between races,
00:55:04 between religions,
00:55:06 between people entitled
00:55:09 and those not entitled,
00:55:11 between valuable people
00:55:15 In this case, the monetary value
00:55:21 and a new barbarian era will begin.
00:55:26 This is ineluctable.
00:55:37 In the end,
00:55:38 the average citizen will pay for it.
00:55:45 The so-called "little man".
00:55:48 Or the "little women" - people
00:55:51 who have no influence whatsoever
00:55:57 unless they get organized,
00:56:03 unless they find someone
00:56:07 strong enough to stop this process.
00:56:19 We are now at the Reichstag,
00:56:22 the seat of the German Parliament.
00:56:24 Here we see traces of World War II,
00:56:26 which ended
00:56:31 by Russian soldiers,
00:56:34 who wrote their greetings
00:56:37 This should remind us of the fact
00:56:40 that without a new form
00:56:46 without a solution for the question
00:56:51 by using renewable instead
00:56:56 which will not be sufficient
00:56:59 all things that ended here
00:57:05 will repeat themselves
00:59:44 DVD Subtitling: CNST, Montreal