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Financialization, deregulation and securitization transactions
Before the 1980s, banks couldn’t use people’s deposits as collateral for investments. Banks were not allowed to use their customers’ deposits to invest them. Up until the early 1980s, when you owned a share in a company, a building or a field and wanted to buy or sell other shares, the state levied transfer duties.…
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Restricting individual wealth
The Gracchi brothers brothers, Gaius and Tiberius, were tribunes, the equivalent of our deputies, and they wanted to tackle the problems of the time. The rich were few in number but owned almost all the land. As they produced all the cereals, they agreed among themselves to set a high price and brought in foreigners…
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Working class racism
The working class has existed since the mid-18th century, with the Industrial Revolution in the UK. It consisted of a population of peasant origin uprooted geographically to the centers of production, with no control over the use of their time. The wages of this working class only enabled them to survive and reproduce. This class…