Raj Patel: Cap, But Don't Trade
Complete video at: http://fora.tv/2010/01/06/Raj_Patel_The_Value_of_Nothing Raj Patel, author of The Value of Nothing, assesses the effectiveness of cap-and-trade legislation. He argues that the trading aspect of the system benefits "big polluters and even bigger banks" at the expense of consumers, but that placing a legislative cap on pollution has been a success. ----- If economics is about choices, who gets to make them? Activist and academic Raj Patel says that prices often mislead us, and he reveals the "hidden costs" of goods. To demonstrate his argument that the free market and corporations distort price and value, Patel suggests that the true price of a hamburger would be $200 if we factor in the hidden environment and health costs. Patel offers a controversial critique of our present political system and argues that to understand our current economic crisis, we need to rethink our very meaning of democracy by re-balancing society and limiting markets. - Commonwealth Club of California Raj Patel holds a doctorate in Sociology from Cornell University and has worked at the World Bank, World Trade Organization, and the United Nations. He is a writer and activist concerned with land reform politics, development studies, and food sovereignty. He authored Stuffed and Starved: The Hidden Battle for the World Food System.