B1 中級 美國腔 6484 分類 收藏
開始影片後,點擊或框選字幕可以立即查詢單字
字庫載入中…
回報字幕錯誤
This is a story about capitalism.
It's a system I love
because of the successes and opportunities it's afforded me and millions of others.
I started in my 20s trading commodities, cotton in particular, in the pits,
and if there was ever a free market free-for-all, this was it,
where men wearing ties but acting like gladiators
fought literally and physically for a profit.
Fortunately, I was good enough that by the time I was 30,
I was able to move into the upstairs world of money management,
where I spent the next three decades as a global macro trader.
And over that time, I've seen a lot of crazy things in the markets,
and I've traded a lot of crazy manias.
And unfortunately,
I'm sad to report that right now we might be in the grips
of one of the most disastrous, certainly of my career,
and one consistent takeaway is manias never end well.
Now, over the past 50 years,
we as a society have come to view our companies and corporations
in a very narrow, almost monomaniacal fashion
with regard to how we value them,
and we have put so much emphasis on profits,
on short-term quarterly earnings and share prices,
at the exclusion of all else.
It's like we've ripped the humanity out of our companies.
Now, we don't do that -- conveniently reduce something
to a set of numbers that you can play with like Lego toys --
we don't do that in our individual life.
We don't treat somebody or value them
based on their monthly income or their credit score,
but we have this double standard
when it comes to the way that we value our businesses,
and you know what?
It's threatening the very underpinnings of our society.
And here's how you'll see.
This chart is corporate profit margins going back 40 years
as a percentage of revenues,
and you can see that we're at a 40-year high of 12.5 percent.
Now, hooray if you're a shareholder,
but if you're the other side of that, and you're the average American worker,
then you can see it's not such a good thing.
["U.S. Share of Income Going to Labor vs. CEO-to-Worker Compensation Ratio"]
Now, higher profit margins do not increase societal wealth.
What they actually do is they exacerbate income inequality,
and that's not a good thing.
But intuitively, that makes sense, right?
Because if the top 10 percent of American families
own 90 percent of the stocks,
as they take a greater share of corporate profits,
then there's less wealth left for the rest of society.
Again, income inequality is not a good thing.
This next chart, made by The Equality Trust,
shows 21 countries from Austria to Japan to New Zealand.
On the horizontal axis is income inequality.
The further to the right you go, the greater the income inequality.
On the vertical axis are nine social and health metrics.
The more you go up that, the worse the problems are,
and those metrics include life expectancy, teenage pregnancy, literacy,
social mobility, just to name a few.
Now, those of you in the audience who are Americans may wonder,
well, where does the United States rank?
Where does it lie on that chart?
And guess what?
We're literally off the chart.
Yes, that's us,
with the greatest income inequality
and the greatest social problems, according to those metrics.
Now, here's a macro forecast that's easy to make,
and that's, that gap between the wealthiest and the poorest,
it will get closed.
History always does it.
It typically happens in one of three ways:
either through revolution, higher taxes, or wars.
None of those are on my bucket list.
(Laughter)
Now, there's another way to do it,
and that's by increasing justness in corporate behavior,
but the way that we're operating right now,
that would require a tremendous change in behavior,
and like an addict trying to kick a habit,
the first step is to acknowledge that you have a problem.
And let me just say, this profits mania that we're on
is so deeply entrenched
that we don't even realize how we're harming society.
Here's a small but startling example of exactly how we're doing that:
this chart shows corporate giving
as a percentage of profits, not revenues, over the last 30 years.
Juxtapose that to the earlier chart of corporate profit margins,
and I ask you, does that feel right?
In all fairness, when I started writing this, I thought,
"Oh wow, what does my company, what does Tudor do?"
And I realized we give one percent of corporate profits
to charity every year.
And I'm supposed to be a philanthropist.
When I realized that, I literally wanted to throw up.
But the point is, this mania is so deeply entrenched
that well-intentioned people like myself don't even realize that we're part of it.
Now, we're not going to change corporate behavior
by simply increasing corporate philanthropy or charitable contributions.
And oh, by the way, we've since quadrupled that,
but -- (Applause) -- Please.
But we can do it by driving more just behavior.
And one way to do it is actually trusting
the system that got us here in the first place,
and that's the free market system.
About a year ago, some friends of mine and I
started a not-for-profit called Just Capital.
Its mission is very simple:
to help companies and corporations
learn how to operate in a more just fashion by using the public's input
to define exactly what the criteria are for just corporate behavior.
Now, right now, there's no widely accepted standard
that a company or corporation can follow, and that's where Just Capital comes in,
because beginning this year and every year we'll be conducting a nationwide survey
of a representative sample of 20,000 Americans
to find out exactly what they think
are the criteria for justness in corporate behavior.
Now, this is a model that's going to start in the United States
but can be expanded anywhere around the globe,
and maybe we'll find out
that the most important thing for the public
is that we create living wage jobs, or make healthy products,
or help, not harm, the environment.
At Just Capital, we don't know, and it's not for us to decide.
We're but messengers,
but we have 100 percent confidence and faith in the American public
to get it right.
So we'll release the findings this September for the first time,
and then next year, we'll poll again,
and we'll take the additive step this time
of ranking the 1,000 largest U.S. companies
from number one to number 1,000 and everything in between.
We're calling it the Just Index,
and remember, we're an independent not-for-profit with no bias,
and we will be giving the American public a voice.
And maybe over time, we'll find out that as people come to know
which companies are the most just,
human and economic resources will be driven towards them,
and they'll become the most prosperous
and help our country be the most prosperous.
Now, capitalism has been responsible for every major innovation
that's made this world a more inspiring and wonderful place to live in.
Capitalism has to be based on justice.
It has to be, and now more than ever,
with economic divisions growing wider every day.
It's estimated that 47 percent of American workers
can be displaced in the next 20 years.
I'm not against progress.
I want the driverless car and the jet pack just like everyone else.
But I'm pleading for recognition that with increased wealth and profits
has to come greater corporate social responsibility.
"If justice is removed," said Adam Smith, the father of capitalism,
"the great, the immense fabric of human society must in a moment
crumble into atoms."
Now, when I was young, and there was a problem,
my mama used to always sigh and shake her head and say,
"Have mercy, have mercy."
Now's not the time for us, for the rest of us to show them mercy.
The time is now for us to show them fairness,
and we can do that, you and I,
by starting where we work, in the businesses that we operate in.
And when we put justness on par with profits,
we'll get the most wonderful thing in all the world.
We'll take back our humanity.
Thank you.
(Applause)
提示:點選文章或是影片下面的字幕單字,可以直接快速翻譯喔!

載入中…

【TED】保羅.都德.瓊斯: 為什麼我們需要省思資本主義 (Paul Tudor Jones II: Why we need to rethink capitalism)

6484 分類 收藏
CUChou 發佈於 2015 年 10 月 7 日
看更多推薦影片
  1. 1. 單字查詢

    在字幕上選取單字即可即時查詢單字喔!

  2. 2. 單句重複播放

    可重複聽取一句單句,加強聽力!

  3. 3. 使用快速鍵

    使用影片快速鍵,讓學習更有效率!

  4. 4. 關閉語言字幕

    進階版練習可關閉字幕純聽英文哦!

  5. 5. 內嵌播放器

    可以將英文字幕學習播放器內嵌到部落格等地方喔

  6. 6. 展開播放器

    可隱藏右方全文及字典欄位,觀看影片更舒適!

  1. 英文聽力測驗

    挑戰字幕英文聽力測驗!

  1. 點擊展開筆記本讓你看的更舒服

  1. UrbanDictionary 俚語字典整合查詢。一般字典查詢不到你滿意的解譯,不妨使用「俚語字典」,或許會讓你有滿意的答案喔