راہم اور بایٹان میں یہاں پر ہوں گے، منارے پر ہوں گے اس جانجانچاہل کے لین میں دیکھتا ہے۔ اس اپنی اگر اپنی کسی جوک بہترنے میں دیکھنایا ہے کہ اپنے عاملہ محبوبہ دیکھنا ہے۔ اپنی ہم بہتروریت میں گھانتا ہے کہ جب انترانہ اندونت میں بھی گیا ہے۔ تو بہتروریت میں اس ساتھ اپنی حلی میں کیا ہے۔ اور اگر پر حضرتہ سے قرآن جھلماہا ہے کہ قرونتہ ہے کہ حضرتہ کے ساری حضرتہ میں بڑھنے گاتے کیا ہے کہ اسی حضرتہ ہے کہ صلص پھر بڑھنے کی اپنا مزوروں میں گارا حضرتہ ہے اور ہوں التوری کی مزور میں نے تصریقی دورows کی تصورتی تھے سیکتا ہے کہ مزوروں کے حضر کی حضرتہ ہون کے لئے非常 زیادہ پر مزور کو رد ہوتی ہے اور یہ کیا کیا کیا سکتا ہے۔ اس طرف کمیی روح جاتا رہت سکتا ہوں ۔ وہ مسئلان کی معلومہ سوشلی سسٹنس کو معلومہ کا شخصی کر گئے ہے کہ گفتاہات تπانی جہاں ہوتے ہیں پر حماہت ہوں ، ان کی محاونہ آپ کی چیزت دیکھ سے ان کے درستہ اور ذیا کیا تاجات کرتے ہیں جب انہوں کو یا ہی بہت کے تعام لی جانت ہے۔ ، اور اس جانتے ہوگا وہ بہترین فرمانہ کے وقت الذي اس کی تعلیم کی ایک کامیٹ لیسے میں کامیٹرلزم سے مرشد کردیاں سے لگی دے۔ ان کے سان میں کامیٹرلز مرشد کی طرح دیکھ میں پرکتا ہے۔ حق شک taped theата and its in a striving in an understanding that the Soviet Union will not encroach upon the Western European countries in order to induce amovement towards communism in lieu of the fact that the capitalist powers were willing to accommodate the fact that جانتے ہیں کہ سوشلیسٹ کے لئے دوروں کو کمینسٹ لیتے ہیں لیکن یہ امروش کے لئے جسکتا ہے کہ ہمید پرسید کمینسٹ سرکت ہے جس کے لئے اس کی بہت مطالق ہوتا ہے کہ میں ایک آہستان ایک کے ساتھ مخبوری میں گئی تھا کہ سوشلیٹ ہمید کو ایکار کردہ ہے۔ کے لئے سوشلیٹ کی بہت مطالق ہے کہ کمینسٹ کو ایکار کردہ ایک مطلب دنیا کی بہرت ہے ، نوگوں کی اوانشیں پڑھاتے ہیں۔ تھوڑوں کی مطلب نہ دیتا ہے ، جو نقبی بہترانی سیناتی ہیں ، لیکن وہ ایک کمونیسٹ اسک shirts کی رہنے دنیا کو اباشٹ آگیا ہے ، اور یہ برانے کی نقبی بہترانی ہے۔ وقت چیکر روحہ بنائے کر رہا تھا اور یہ بھی ٹھوٹسٹ ہے کہ سوشل ہوتا تھے کہ اسی طیہ میں کبھی رائے روحہ بھی شریعت کے نظر ، دور نامت کے دقائق پرانا گیا کیا تھا لیکن اس طریقت کے مبعہ قوی沒關係 کے لئے ، روحہ ہوتا بھی قبہ کر سٹی خوشگے کے لئے اور یہاں ، اور ، اس لئے ڈاگو کے لئے دوار انسان نصور روحہ بھی چہنے کی مباہ hotel نتجہ اپنیس کا مقابلہ ہے کہ کینزین دیماہنیجمن پولیسیوں میں بھی اپنیسی ایک کافیٹلیسٹ پر کہ اپنیسی پر مقابلہ کے بہت کارکی ہے اور انہوں سے مقابلہ ہاں پر ایشتی ہے کہ یہ کافیٹلیسٹی کا مقابلہ ہے. اور بہت اپنے دمکراتزار краالی بھی کتی ہے کہ حذارت کم مجھے زیادہ کتی ہے۔ اپنے دمکرات جس کے بارے پر ایک سینٹری of کے 3 جو ایک سینٹری منسک و ایسی منسکن کے بارے پر کتی ہے اپنے دمکرات سینٹران کے لئے اپنے دمکرات بھی کتی ہوگا۔ اس دمکرات上面 میں کتی ہے ، گفہ بیشت کی بیرزہ لamy اگر ہی کسی دتے ہیں کہ اس نے بیرزہ کے بڑے کی طرف سے کبھی کرنا رکھو ہوئی میں سب کتھلیزم میں بیرزہ ہی دارے میں جیزیرہ میں اس طرح اختریان دخالی رہا ہوں جانا چاہتے ہیں۔ پیدا میں اپنابسیی سلیوں نے پیدا چاہتا ہے جو تقنیری شارح اپن palabras کے لئے ہموچی برسی میں بیرزہ تھا but I mean it in a very specific context and I'm indeated to the Polish economist Oscar Lange for this particular term. It is a spontaneous system in the sense that it is driven by its own imminent tendencies.  بس ایک ہم انہوں کے ساتھ گلوں کے لئےеты پر یہ ساتھ کیا ہے۔ because they are subject to the force of competition more or less are goersed into acting in particular ways so that you could, without really doing violence to reality see the system as propelling itself forward through the intermediation عبادہ جنگوں کی کاملہ بارے میں ہوتا ہے کاملہ کے لئے کاملے میں ہوتا ہے اور اس سوری کبہ کیا نہیں پڑھی کروٹہ ہوتا ہے۔ کارل مارکز نے ناما چیز مصر Please تو ہم پرسانی فائدہ کیا۔ کیا کہ ہر ناما کا مجھے کاملہ کیا ہے کہ ہر لوگ کو کی reclaim سائیہ کیا ہرتا ہے کمینی آتا ہے گے جب یہاں اور ہوری leave مصر پیچھوں کے لئے ناماہ کیا ہے لیکرہ کبہ کے لئے ناماہ ہے وہ میرے ساتھ باتے ہیں اور اسے اگر کافتلیس میں پر مدرہ ساتھ جانتا ہے میں جو بہت کچھ کسی کو بہت کرتا ہے اور بہت سے وہ کچھ لوگ بھی مجھے بہت مراملہ تھی like for instance ایک کاملیشن انٹردکشنوٹ لیکنوچیکل برس all of it was more than forced on the capitalist the incis and development of the productive forces was more than forced on the capitalist now in this spontaneous system theếہ انہوں سے والدہ الخریط بکر ک نظر پر کسی قاتل کی اندرانت حالی میں دھلتا ہے۔ بہت ایک شخص پر اس کے خاتل کی جس کو ساری مقابلیہ پر جس کو مقابلیہ چھوڑ کی مقابلیہ کی تعلقات ہے۔ آپ نے معلومت کی مقابلیہ ہے۔ انہوں کی خاتل ایسی پر ایسی دھلتا ہے۔ خاتل ایکہان کی خاتلیہ ہر مہد کانے کا حلہ جانا ہے۔ again is something which is really a part of the process of dynamics of the system. The fact for instance that every object becomes a commodity over time again, which Marx had highlighted, is another of the imminent tendencies of the system. Now all these are tendencies which the system necessarily in its process of self propulsion ب solved the in the ڈمینڈیتنی of human age and some are more or less acting as instruments of this self-properation. These are the tendency that it exhibits and manifests itself. The role of the state is actually to aid these tendencies. By the way, in my next lecture, I'd like to say that a very basic distinction between Marxism and liberalism arises because of this. لہذا کیا کہ ہم اپنے حطر کرتا ہے هنا ہے無 matter what the state brings you in any way مجھے ویسق جب کئی حالاتائنہ تکرار ہے ہے کہ مطالعی برہات تقیادہ ہے۔ مطالعی برہات تقیادہ ہے جو کہا کہ بوڈای دیگے ہوتی ہے۔ کیا بہت ہے جب پر مطالعی مطالعی برہات ہے؟ سوار herkes تک سکتے ہیں لیکن اگو انمییا ملی آگا جببلرہ دیناس پر thanیئر ، کرتے ہیں تک سکتے ہے اتنے مخلص پرنی کے دل کو کوئی فرصہ دیناس میں نہیں ہی تعالی کرسی ہے اگر یہ به اپا جانے پرشد ہے, یہ سیستمی چاہتے ہیں bestمدی میں بھی ماری جلگی میں دیناس کے اپنے مطلدات۔ سیستمی چاہتے ہیں سیستمی کی یہ تقریبہ سے اپنے ماری کو پرشد ہو جاتی ہےRad But After this Displacement as long as the system continues to be driven by the same tendencies then it wont actually continue to be again a self propelling EntityIf the state acts in a way which actually thought these tendencies in that case the system becomes disfunctional when it becomes ہے یا اس پر حکم then there are two possibilities one is that in a recursive ماننے than the intervention of the state would have to be more and more kind of ڈیپر and ڈیپر more and more comprehensive or alternatively and this more and more comprehensive would eventually lead to a transcendence of the system or alternatively the state begins to withdraw from intervening an when it then once more you have realize decision of the same image and tend 힘Which had exist in earlier . Now the post-second world war situation can infact be interpreted in his particular way Surely the golden age of capitalism that actually brought capitalist countries very close to full employment. For instance in the early to the mid sixties britain had unemployment rate that was about 2% of the total work force, مصجدowsپٹ ہے ، جو بھی اکشاییی کوئی توک کنیدی کوئی تک اس چیز میں پہانی کھوندنگی تھا ، جس کیمص جہب اکشاییر بہت fluor ایک اپنے لئے جو اکشاییر کے لئے ایک کامیشن ہے ، آج میں اکشاییر کھوندنگی تھا ،۔ جو میں اکشاییر اپنے لئے کعلیسن ہے ، یہ اکشاییر بہت اکشاییری ہون شاہر جھو میں انکردنگی میں دے جہاں بھییسutilیت such low unemployment rates over such a long period of time Now if you have such low unemployment rates being sustained then that is clearly something which really goes against the the the the the imminent logic of the system Why does it do so because capitalism can never do without a reserve army of labor which has at least three important roles to play. two of these are generally well recognized but but i'd like to add a third one of which which everybody knows is that the Reserve Army of Labour is essentially for restraining the real wages of the workers because of which when labour productivity rises the real wages don't rise or even if they do rise the fact of the surplus value being۔ کنا کہ جوزِ فرمن ایکانبیس جوزِ فرمن پیٹا نے کہ ہی سے دیکھوιο heart ہے ، اور دیکھو ، ، ، ۔۔ ، ، because of course you'd have competition, which gives rise to a situation ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ ۔ اس کے لحظہ کامی کو حفظہ لی تھی جائے ہوں، لگ before the long before the competition for workers has taken the economy any way your full employment you would actually have the accumulation process slowing down there are inner ways in which capitalism reproduces the reserve army of Labour چیز ایران طرف دیا کی جلو مات کو ایک اورای کارزی بہت ، دیکھا ہے کہ آپ کا ایک اورای کارزی پیسے لے سے بھی نہیں چاہی ہے ، ہر را جلو ہوتا ہے ، یہ پکید ہوتا ہے کہ ہم چیز لے ہوتا ہے کہ جو ایک اورای کارزی خود کے لئے آپ کو اپنی کارزی سے سکتے ہیں جب جہاں سرکتے ہیں ، جو ان کا اونےوں حرار پیسے کے لئے کے پال کے لئے دوسروں کے بارے میں مررطہ ہے۔ میں ایک سسٹیلی سسٹنے کے لئے مررطہ کیلکہ مررطہ بات کیا ہے کے لئے لے جانتے ہیں۔  لیکن سبت کیا مجھے حقیث میں آج کا مہلے دولی کیا ہے؟ جاں مجھے دولی لیکن ہے کہ مجھے بارگن یہ مانی ترمز ہے۔ مجھے بارگن کی حقیث میں آج کے مہلے دولی میں آج کا مہلے دولی ہوتا ہے۔ اگر ایک ا contour بالدارفہ بلکہ جانتے ہیں اور اگر اہم اہم اہم اہم مح geographical محقوق بہت کس طرح اہم محقومتہ بلکہ پھر انتظران بلکہ جانتے ہیں اانہم محقومتہ بلکہ جانتے ہیں اور ایک اہم اہم محقوق بلکہ جانتے ہیں اور ان کے ذہ پر محقوق ساتھ یہ محقوق بلکہ جانتے ہیں exists some of money must remain relatively stable and is very important for that you must have stability of money wages for which the reserve army of labour is very important. Many of you would know that these days There is much talk about inflation targeting. Why is it that capitalists are not committed to say acceptedosed country will be returned to the government government. میں آپ جو ایک anniversary importantly ، بہت مل PHOON talked about انفل�ی نظر انیضان ہوتا ہے کی故ران سی�ر ہلے جمی coastermanship و پس کس ، انفلاج ایک ف Сегодняیèn لیکن جو بہت بہت ج aquilo being غidos البالیہ دوب Tucson دستو horse جو اپنے پہ落 جاتا ہے کہ لیننن اگر نے ساری سمجھے Somewhere کے لئے the best way to تک سیسٹر کی سیسٹم اپنے پر ایسے چھوڑنی کی طرح ایسے ڈبوچہ ہے لیننن ہے کہ یہ حلیت جاتا ہے جو لیکن کیا ہے اس کے لئے اس کیا کیا کیا کیونکہ اس کمیت کے لئے ایسا حامہ جاتا ہے جو آپ کے لئے اس سیسٹمی کے لئے سیسٹم کی سیسٹم کی تبیلیت کیا ہے ہاں جانا جانا چاہیے بیٹو کافٹلیت کو موجود ہے گو سامنے دیتے ہیں۔ یہ آہ بہت ایک حام حقوں کی پہنچلس شروع حمارت کو جو مقابلہ 초�مہ میں سے حقوں کو بڑھی ہے ، تصور ساتھ مصدور کیا رہے تھا resentرے کے لئے یہ خودی کیا لیکن ساری ساتھ بھاک ہے اور پہنچلس کیا ساتھ بھی دینامنیلی ساتھ بھائی ہیں جانو یہ ساتھ چاہیے ہے جب کہ جو ہیں ایک جو آپٹینے پس کے مطابق ہوقی ہے کیا守ود ہے اس کی طفولاک ساتھ ساتھ زندگی کے لحظہ پڑ splashing ڈیاری وہ ماکر کامل اس لحظہ کہ کہبیٹ چدا گیا تعلیسائے اس پ miałہ الع maintی ماکر کامل اور ہستان کی حالاتت کو مسالل championships اس خاہت 可以 though ڈیاری فهروری بارہ مہموانے اور دیکھو اندگی شرادہ پہلال dalam بہت حکول لین اپسار چندہ tür کے اپسم گا محار میں شاہ relacionہ نہیں پڑ لیکن کیل ہے because the capitalist world at that inflationary upsurge suppose it is the case that capitalist states had gone on towards further intervention in the sense that you know ok wages and incomes policies that they try wages and incomes policies everywhere that is as it were raising the intervention of the state a little beyond simply providing a large amount of demand to بڑھا کے جانررے تصورہ سب سے caseے میں ہوتے ہیں ، but of course once your wage is an income policies if you have Aha this share of the Capitalist then they may not invest at all they may not even accept the wages an income policies there may be violation of it in which case it will become very important for the state itself to step in as an investor for the state to undertake پبلیک اینکمان کے دور کہ the point that I am trying to make is that in order to اندرنائے میں درستانئے بوضیدہ آپ آپ کو اگر آپ ایک اوشاہ پر ای도ر پکرہ ہے کہ اید ایک آپ کو حمل niezاہر darauf کرتا ہے اور اس کو کہ بوضیدہ کا بیرش آنے والے ایک نقش کیا لگی ہے کے لئے پس ایک آنے بڑاesses نے کے لئے آپ کو اپنے فرام سے اپنے پرس سکتے ہیں اور ان کی وجہ کیا لگتے ہیں بات مارکر اٹھار اور رونہ ریکن اور so on کے لئے اگر آپ اپنے مداری بوضید کی تورت نہیں کرتا ہےے جیسا ،列ہ سے برائیطر صمامر کے لیکن ، کامیٹلی تقني سے ساتھ اسمید کی ایہت جب بھی ذکر ہے ، ہوگا ، کامیٹلی صمامر کے لیکن اے دrenceق کی ساری ، لمیت تکیک جاتا ہے ، کامیٹلی صمامر کی ایک بیطر 사람 ہے۔ سامائے ڈیmی شخص ایہات میں دور ہونا پہنچ کامیٹلیزم کے لیکن paintings یہ جاری کے ساتھ ہی بردی اور یہ ساتھ اپنی پر مجملی میں آپچش کرولر ہے انہوں سے ساقان جتا ہے جو اپنی پر مجملی میں بھاتنے بلک میں کسانتر اکک ر關係 یہی بردی ہے ایک بنار کیا آپچش کرولی ہوئے جس آپچشی کرولے کا اNI عاقزہiors جو اپنی تل وقربان اور ساقانی مصر اپنی پر جو مجملی میں بھاتی کرولی ہے بیسکیلی کیا ہے کہ دوری the period of the golden age of capitalism you had high levels of investment because high levels of growth and therefore high levels of savings inside this capitalist world and the private savings were not only high enough to finance the investment but they also had to be high enough to finance the US governments borrowing because the US government was borrowing in order to maintain a string of military bases all over the world the US governments level of borrowing kept going up and of course it went up dramatically during the Vietnam war as the Vietnam war hoted up around the mid 70s as a result huge amounts of private savings were generated inside this universe of this capitalist universe now some these private savings were in fact handed over to those who required private savings through the intermediation of the banks but there was one very specific thing under the Bretton Woods system the dollar was supposed to be as good as gold and the US borrowing therefore took the form of a cost less borrowing they just printed dollars European banks held on to these dollars and when they held on to these dollars the US government had to pay no interest rate because you know they it was supposed to be as good as gold as a result a lot of the European banks were very keen that look we are holding all these dollars but we must earn some income on it one way of earning this income would have been to invest it all over the world but under the Bretton Woods system every country had capital controls their controls and capital inflows and outflows as a result pressure mounted in order to get rid of those capital controls initially there was a movement of funds you know I mean hot money flows which was in violation of the Bretton Woods controls but later on in fact Europe first Latin America and Africa later India in 1991 we began dismantling capital controls the Bretton Woods system of controls completely collapsed and that was the beginning of the process of globalization of finance globalization of capital and in particular globalization of finance capital now there is a lot of misconceptions about globalization and I think while those misconceptions may not be common in this room is worth actually going getting rid of something one view that basically globalization which is associated with the pursuit of neoliberal policies entails a retreat of the state that the state which earlier was intervening no longer intervenes which is a completely false conception what happens is a change in the nature of the intervention of the state just imagine we are in a world where there are nation states governments are really representing nation states but on the other hand capital is globalized that's the essence of the process of globalization capital in particular finance capital is globalized now if you have globalized finance capital and you have nation states as I once mentioned earlier then of course the nation state willy nilly has to do what globalized finance wanted to do because otherwise it will just leave the country canes had been aware of this as I mentioned last time and in his Yale review article he had said finance must be national in other words globalization finance prevents the autonomy of the nation state to pursue whatever policy it wishes to do because if finance is global and the nation state remains a nation state then it will have willy nilly to do exactly what finance demands now therefore what actually happens is not that the state retreats the state retreats from some range of activities in order to intervene in the economy in a different way its retreat takes the form that while earlier the state appeared to stand above society and appeared to be intervening in the interest of all kinds of classes as a kind of you know umpire as a kind of neutral entity standing above society increasingly what happens in the period of globalization is the state acts in the interest of globalized finance in the interest of what one called international finance capital now the fact that the state acts in the interest of international finance capital implies the pursuit of a whole range of policies which more or less are pretty common everywhere you know I mean we know what these policies are the neoliberal policies and so on which I need not repeat but one very important implication of this should be actually kept in mind I mentioned last time that one of the reasons why the period of inter imperialist rivalry which had characterized capitalism in the interwar years was superseded by or you know that the inter imperialist rivalrys got mutant in the post war period is because there was one power which was far more powerful than anything else some people had referred to as a period of US super imperialism US was by far the leading power it really did not have any other powers to challenge its kind of hegemony and consequently in some sense the muting of inter imperialist rivalries was a reflection of the power relations within the capitalist world but with the emergence of international finance capital the muting of inter imperialist rivalries actually becomes a characteristic of the system why when Lenin was talking about the fact that you know that each inter imperialist rivalry and each of these powers within each of these major capitalist countries you have a financial oligarchy that presides over the sphere of finance and industry and that is interested in carving out an economic territory for itself at the expense of a rival financial oligarchy where the British finance capital struggling against the French finance capital German finance capital struggling against the British and French finance capital the whole idea is really of finance capitals which were nation based nation state aided and within each country represented equivalence of industry finance and of course the state personnel but now what happens is that if you have a division of the world into rival economic territories then that goes against the fundamental interests of globalized finance globalized finance would like to go all over the globe therefore any arbitrary barriers which are imposed against such movement is something that they dislike so obviously a hallmark of globalization is not that the world be partitioned into different spheres of influence but that all such partitions must disappear and that's exactly why now the muting of inter imperialist rivalries actually takes on I mean you know really becomes based on the material reality of the emergence of international finance capital many people have actually referred to this new situation as ok there was a debate as many of you would know a debate meaning there was a discussion difference disagreement between Lenin and Kautsky you know that in when Lenin had written his imperialism there was a big attack on Karl Kautsky's views and I'll just very briefly mention it and many people have seen the current conjunction of globalization as one which represents a triumph of Karl Kautsky over the Leninist position why do they say that you see Lenin had said that you have different kinds of finance capitals as I said German British and so on and they would be always trying to partition and repartition the world in accordance with their relative powers relative strengths and so on Karl Kautsky was as you know a very very distinguished well known Marxist Theorist of that period had put forward the view that can we not imagine a situation where there is an agreement among the different finance capitals that they are not forever locked in bitter rivalry but there is an agreement among the different finance capitals so you have the joint exploitation of the world by internationally united finance capitals in which case of course the fact that wars must always occur is something that need not happen because you can actually have a joint exploitation which is a peaceful exploitation because these finance capitals would no longer be at loggerheads with one another against that Lenin had argued that suppose we visualize and Karl Kautsky had called it a state of ultra imperialism now Lenin had said that suppose we visualize such a situation suppose there is an agreement capitalism is forever associated with uneven development the uneven development would mean that the relative strengths on the basis of which an initial partition had been done of the world would be changing and as the change there would be an effort to redraw the partition to repartition the world and that itself is going to generate conflicts so conflict is something which is embedded in the very fact of uneven development that capitalism necessarily engenders now many people say that now that inter imperialist rivalries are not there Kautsky and position has been vindicated as opposed to Lenin's position I'd like to see it differently namely that both Kautsky and Lenin were really talking about nation based finance capitals either being at loggerheads with one another or combining with one another but we have really gone beyond that very idea of nation based finance capitals we now have international finance capitals not internationally united finance capitals belonging to different nations but a genuine international finance capitals to which the financial oligarchy of different countries are closely integrated and that being the case is not a question of Lenin versus Kautsky but in fact the world has moved beyond both Lenin and Kautsky this is where I'd like to see it now this process of globalization is one which has at least three very important characteristics which I'd like to underscore the first characteristic which many people have talked about is of course what they call financialization financialization which is analogous to industrialization which had occurred earlier there's an enormous weight of the financial sector of course financialization proceeds much more has proceeded much more in the advanced countries compared to the developing countries but nonetheless it's a global phenomenon the second feature which I think is quite interesting is that now you have quite apart from financialization or you know if you like that there is I'd like to draw a distinction between capital as finance and capital in production when you set up a factory that's capital in production but if you have finances moving around employing itself in stock markets here or there or something that's capital which is mobile which is capital as finance while there's an enormous growth in financialization and therefore in the weight of capital as finance as far as capital in production is concerned you have a diffusion of activities from the metropolitan core to a number of countries like China, India, East Asia in particular which is really quite a novel phenomenon why do I say it's a novel phenomenon because if you look at the history of capitalism then typically what happened in the colonial period there was de-industrialization you had let's say British textiles getting rid of our weavers in India, China etc. which actually produced unemployment huge reserve armies of labour huge labour reserves and very low subsistence wages but the remarkable thing is that British manufacture in capital let's say or capital in production could have come to India and China use this low wage labour in order to use the same technology that they were doing using back home to produce for the world market then of course their profits would have been higher but that did not happen if it had happened in that case the dichotomy between the under developed and the developed countries would have to a significant extent disappeared the fact that it did not happen the fact that there was a segmentation of the world economy meant that labour from the south was not really allowed to move to the north capital from the north did not move to the south except to mines plantations and you know managing agencies and so on which were really part of the same international division of labour but they did not shift manufacturing activities from north to south so you had a segmented world and as productivity increased in the advanced countries wage also increased and there was a gap therefore between the subsistence wages in the third world and the wages the workers had in the first world this appears now at any rate to have changed now what you do find now is a shift of activities from the advanced countries to countries like China, East Asia and shift of service activities to an economy like India not that much of manufacturing in order to take advantage of the low wages in order to produce for the global market not just a local market but produce for the global market now when that happens then labour in the advanced countries begins to compete against labour in the under developed countries that means basically you have a situation where wages there can't rise as a matter of fact I probably mentioned the Joseph Stiglitz has estimated that the real wages of a male American worker in 2011 was no higher than in 1968 and perhaps marginally lower so what you find is that taking the world as a whole obviously there is this diffusion of activities taking place and this implication we shall discuss in a moment and the third feature to my mind the third very important feature of globalization which in a sense defines it for at least societies like ours is that it completely gets rid of whatever state support and so on existed as far as petty production peasant agriculture are concerned I said that the change in the nature of the state under globalization this change in the nature of the state takes the form whereby in the post war derogist regimes that came up after decolonization the state played the role of actually defending sustaining promoting petty production and peasant agriculture but now the state increasingly refrains from doing so because state policies are now much more geared towards keeping up what is called the confidence of the investors which basically means appeasing the bunch of speculators and financiers who move their money around the world because of the globalization of finance capital this withdrawal of state support from petty production and peasant agriculture is one which basically implies that we have an agrarian crisis huge amounts of peasant suicides because two ways firstly agriculture ceases to have the kind of profitability it had earlier which if you like in floor terms implies the squeeze on the incomes of the agriculture sector and of petty producers when I was in Kerala I was in the planning I used to work in the planning board we once made an estimate and you found that suppose the fisherman sector you know the sector you assume that every fisherman was getting what was the minimum wage in the state and which used to be paid in Mahatma Gandhi national rural employment schemes suppose you imputed that wage to every fisherman then you found that the sector as a whole was in deficit in other words you found that the fisherman got a return per labour day that was lower than the minimum wage that they could have earned on an MG and RHS project it's a very interesting and moot point on which many people have written why in such a case does a fisherman continue to be a fisherman why don't they go and work in an RHS well I mean I think that's a very deep issue which you know Christopher Hill once wrote an article that because of the fact that they don't want to give up their freedom for a mess of potage that basically the conversion of petty producers to the role of workers is something which is such a severe and painful transition from any of them because of the fact that being a worker means you are under coercion that they would take substantial cuts in their living in order to continue as petty producers though of course their children and so on might actually join the ranks of the proletariat but the point is that therefore you find that the petty production and peasant agriculture sector is indeed crisis and what is more also in stock terms that means in terms of asset transfers there is as you know a substantial amount of conflict that is currently evident because land of the peasants are being taken over for suppose an industrial project like basically means in class terms a process of acquisition of land of the petty producers by the capitalist now this is something which Marx had referred to and of course the land is not taken over gratis but nonetheless is taken over at prices which are generally throw away prices and this is something which Marx had referred to as a process of primitive accumulation of capital primitive accumulation in flow terms in terms of squeeze and incomes primitive accumulation in stock terms in terms of taking over property gratis now these are the various I mean to my mind very significant social implications of the process of globalization but I want to now move on a little to the question of how globalization impinged on the socialist countries now I think basically I mentioned earlier that under the socialist countries under socialism as it existed because of the fact that a lot of aberrations had occurred which at the time were considered contingent and which it was believed that the ongoing revolutionary process in the march of history would actually correct these aberrations these aberrations continued that produced a new kind of alienation as far the people were concerned not what is not what you find in capitalism but nonetheless something which is no less real it was real now one of the ways in which many of the governments which were all party dictatorships tried to acquire credibility in Soviet Union and Eastern Europe is by increasing the consumption levels of the workers by borrowing from abroad in other words this was a period in which lots of loans were available globalization of finance finance is available but in fact there was a loan pushing they would push loans to all kinds of countries and of course since loans were available many of the socialist countries actually got indebted I remember I think with Prof. Chandrasekhar we had gone to GDR and we asked the economists there but you know I mean isn't it rather disturbing or borrowing so much from the international market some capital loans are still very small but the point is that one way that the socialist countries got trapped into this process of globalization is by getting indebted which appeared at one point to a very smart move that you're actually raising consumption levels by borrowing but when it comes to paying back borrowing paying back the loans you have problems arising this anticipation of exchange rate depreciation because you don't have enough foreign exchange and if there is even anticipation of exchange rate depreciations you find that even many of the public sector enterprises which were exporting enterprises didn't bring back their foreign exchange earnings something by the way that also happened in India now if an export earner does not bring back the foreign exchange earnings then that is exactly analogous to a capital flight because that basically means that money we should have flowed in is not flowing in and that put further pressure and that is when the economies really started getting into a tailspin and of course at that point as you know many of the apparatus then simply grabbed hold of state property through a massive process of primitive accumulation of capital and set themselves up as capitalists now it is quite amazing that you had a socialist country but almost immediately as socialism was collapsing you had the emergence of these billionaires in Russia one of whom actually bought up the Chelsea football club in London so it's quite remarkable that once the economy got into a tailspin then all these problems arose as I mentioned last time not only is it the case that the leadership of the communist party set themselves up as presidents in all the republics to which this Soviet Union got fragmented لیونید کراف چوک ادوار شیوان نارجی اسلام کریمو او دور سلطا نظر بائی و ان سان باری سیلسین but what is more you also had a parachics taking over state property the other way that socialism actually affected or globalization of finance the availability of funds the movement of capital global movement of capital was used by the socialist countries was in the case of China in the case of China while there was a resistance to the inflow of finance they were quite careful but at the same time they actually encouraged the inflow of capital in production in order to set up enterprises for meeting exports and of course China became an enormous success story as far as exports are concerned very high rates of growth everybody knows about it there is a question which arises and you know it's not okay this is a very contentious issue that in China as a result of all this have we now got to a situation where the labour reserves have disappeared there is no doubt that wages have increased but the point is that we must not forget that much of the increase which has occurred in the real wages in China of the workers has been decreed by the state in other words the state has administered a real wage increase if there is a certain and even this increase is really much more in the coastal areas even if there is an element of tightness in the labour market that is something that does not extend to China as a whole certainly in the interior of China and also if you look at the age group of 50 to 60 you find that you know there are some poor surveys and so on there is a fair amount of unemployment in the age group of people who are in the workforce but in the age group of 50 to 60 so it's not as if labour reserves have disappeared but of course the Chinese government has increased real wages but there is a necessary limit to the extent to which the government can do this because the whole economy has survived upon being a successful exporter now suppose it is the case that the Chinese wages rise because the state has decreed a rise in Chinese wages then fairly soon you would find that the location of export activities will move to other places where labour reserves exist and where real wages are still low so the Chinese real wages in this kind of a regime cannot be too much out of line with the real wages elsewhere and therefore this necessarily puts a constraint upon the degree to which the Chinese real wages can rise it's an interesting proposition that in China in fact there was an article in the Financial Times on October 2nd in China now there is a very significant growth of a neo Maoist opposition a neo Maoist movement the October 2nd Financial Times said I mean I'm not taking that at its face value that if there are elections today between the communist party and the neo Maoist opposition the neo Maoist are likely to win but okay whatever you may say but certainly while earlier the opposition to the ruling party came from the so called pro-democracy movement now the opposition comes to a very significant extent from the neo a much greater extent from the neo Maoist and there's an enormous nostalgia for the egalitarian period which characterizes the Maoist era so the point is that it seems to me that even in China one has to take the success of the Chinese growth story with a certain amount of reservations at any rate how has globalization affected the people of the world generally how can we look at the impact of the process of globalization on the different segments of the world's population we have now a certain study Branko Milanovic who is a person who works on income distribution and just written a book but broadly one can say that everywhere in the world the top 1% the proverbial top 1% that the occupy movement was targeting has done remarkably well in fact in India wealth inequalities have increased so dramatically that roughly the top 1% now controls half the wealth of the country this is a real increase so inequality at that level has increased indubitably quite dramatically as far as the workers in the advanced capitalist countries are concerned their conditions certainly are really pretty bad I gave you Stiglitz's figure and many of the many of the resistance currently of course in the guise of right wing resistance because they are led by a lot of them in Donald Trump or UK or Marine Le Pen and so on now that is something which is a reflection of the fact that the working class in particular has really done very badly I believe that it's important for the progressive left elements in all these countries to recognize this and to take up the resistance of the working class instead of shunning it on the grounds that this resistance currently is linked with the right but that's something which I'll try and talk about next time but when it comes to workers in the third world or working people in the third world by which I mean petty producers workers peasants and so on one should have thought that there should be a rise in their wages one should have thought that the shifting of these activities should actually have made them better off as a matter of fact what you do find however is that despite all these shift in activities you still have very significant labour reserves I said in the case of China it's a matter of debate but in the case of other countries other third world countries is absolutely no doubt that there are very significant labour reserves which are not used up because of which their wages continue to remain at a subsistence level as far as the workers are concerned and what is more unemployment takes the form of labour rationing work rationing in the form of casual labour intermittent labour, disguised unemployment petty entrepreneurs in fact it's remarkable that a lot of the petty entrepreneurs are supposed to be Dalits now this is something which is tomtom as a great achievement that look at the way that Dalits have become entrepreneurs as a matter of fact that's really a form of disguised unemployment and analogy that I'd like to give you I think maybe I'm not sure if I gave it last time that during the great depression in the 1930s there were a lot of shoe shine boys people who didn't have jobs they just kind of started sitting behind by the road in order to shine shoes so you could say there's an enormous boom that is taking place in the shoe shine industry that employment in shoe shining has really shot up but as a matter of fact that is really a symptomatic of disguised unemployment on the whole and of course the disposition of the peasantry the squeeze on the peasants the squeeze on the incomes of peasants and petty proprietors that I talked about petty producers is something all of which implies that the working people in the third world countries despite the shift of a set of activities are not really any better off but they are also worse off and certainly when you look at nutrition data hunger and so on you find this to be the case what has happened however is that there is a certain improvement in the condition of a segment of the middle class this is true of China this is true of India as well now it's a good point whether the middle class has expanded in numbers but so far is almost 50% of India's workforce is still engaged in agriculture it is unlikely that the middle class has expanded so much in terms of numbers but it has actually become much more visible because its relative incomes have really increased dramatically as a matter of fact I once made a very simple calculation between the salary of a professor when I joined JAU as an associate professor a salary was 700 rupees basic you look at salary of a new associate professor today and the factor by which it has been multiplied is way way above the factor by which the procurement price of wheat has gone up for instance therefore if you simply compare peasants and professors then you find the professor doing very well compared to peasants and professors by the way are not the best paid not at all so you do find that actually there is a remarkable rise in terms of the relative incomes of the working class of the middle class now this therefore would suggest that in the days to come we may see I mean how things are going to pan out is difficult to say because the current crisis of capitalism about which I talk next time is something which is going to impinge on the middle class as well in which case it is possible that there would be a certain middle class joining of the resistance of the working people that's taking place all over the world but on the other hand if that does not happen then you may well find the situation where there is a conflict of interest between the middle classes on the one side and of course the working population on the other side and then that becomes a very important test for the left that it must be of the side of the working people for instance if you look at the brexit vote london which is where british finance capital is concentrated and where you have a significant middle class associated with the financialization of the economy voted against brexit but on the other hand all the working class areas that you find in britain voted strongly in favor of brexit so you find that this kind of a difference is beginning to manifest itself how it pans out is something that remains to be seen before I end I'd like to draw your attention to one point one of the things about the collapse of socialism that took place which actually for a very long time had left someone like me personally very sad is the fact that it left so little residue you had the english bourgeois revolution of 1640 but on the other hand even when you have the restoration of the monarchy in 1688 between 1640 and 1688 there has been a substantial achievement of the revolution which continues to remain the restoration was not a restoration of the monarchy the way it was in 1640 you look at the french revolution it is true that thermidor happened then Napoleon happened then all kinds of things happened but at the same time the basic achievement of the revolution in terms of whatever distribution of land smashing of feudalism there was a residue that remained throughout all this one of the sad things I used to feel about the collapse of socialism is that you cannot detect any such residue it's almost as if socialism just collapsed and all the gains of it disappeared but on the other hand when you actually think about it carefully what it means is something which is extremely interesting what it means is that between capitalism and socialism there is no possibility of a little bit of gain beyond socialism in other words a collapse of socialism necessarily means a victory of capitalism when I was a student we used to have interminable discussions about whether the Soviet Union is state capitalist whether the Soviet Union is this or that there is not a socialist country but it's all kinds of other things we thought Bernam and Carter wrote in this book called managerial revolution that really you can actually have a situation where managers run the economy you always talked about techno structure so many people used all that to say that even when you don't have private property you actually can have a system which is a managerial capitalist system or a state capitalist system and so on that is possible to have some intermediate state between capitalism and socialism the fact that there is no residue the fact that the Soviet Union's collapse or that of Eastern Europe actually meant a complete submersion of these countries within the capitalist orbit suggests that there is no such intermediate step that is possible and it suggests therefore that really between capitalism and socialism it is as Eugene Portier had written in his famous song The International is the last struggle and if you lose the last struggle you're back into capitalism and that's the basic difference between bourgeois revolution all previous revolutions and the socialist revolution the socialist revolution is the last struggle thank you


Hi everyone, Joe for jaspyscasebreaks.com coming at you with 2020 panini mosaic football hobby pack number 38 with 62020 national treasures football random team spots being given away But first we're gonna do the break itself then we'll do the giveaway at the end big Thanks to this group of people here for making this happen And there are the teams right there. Let's roll it. Let's randomize it three and a one four times for names and teams one two three and a one three and a one four times for the teams one two three and Fourth and final time. I'm not gonna read up all the names Here Preserve my voice a little bit to feel a little shaky All right, there's the first half of the list right here And there's the second half of the list right there. Let's print and let's rip I think we've been working out of the same Same box right here. So we'll just go We'll do that pack right there and the one of these packs will be for that next break. I don't know if It's a fresh hobby box. I don't know if both of those autographs have been pulled I know we pulled one of those in a break last night, but Did we pull the was that the first one or was that the second one? I don't remember These are just little filler packs. Anyway, the whole point of this is try to Kind of win those NT spots Terry Bradshaw Julian Edelman read Not numbered Calvin Johnson insert Eli Manning Clyde Edwards E. Lair burrow CD lamb Jim Kelly nice So an NFL debut insert Joe burrow is not too shabby that'll go to Steve Burch Got randomized the bangles in this little pack break and Clyde Edwards E. Lair for Eric Houston Rookie card. All right. Nice Now even nicer could be An NT spot for you so Oliver down to Russell and everyone in between there's some new dice There's a fresh list right there. So it's gonna be the top six after After six top six after six Good luck one two three four five and Sixth and final time. Good luck. Good luck. Good luck. So from seven on down From seven on down my apologies sad times But we'll get them next time because there is a next time actually we have to do pack This is pack 38 we got to pack 39 To give away the final six spots So if you feel like trying again if you're watching live right now Jaspie's case breaks calm. All right. Congrats to the top six. You're in Eric Matt David PJ Kevin and the X line you are in that NT random team break Second half of the case that we popped up last night. Go and get it. I'm Joe. I'll see you next time for the next break


You asked and now it's finally here. Appalachian Wireless now offers unlimited data on the best network in the region. See store for complete details, better service, bigger savings. That's today's Appalachian Wireless and East Kentucky Network Company. Lawrence County native Tyler Childress has been making waves in the country music industry with his new LP Purgatory. Tyler says growing up in these mountains played a big part of who he is today as an artist.  It's influenced the sound, what I want to hear out of my music, you know, out of other people's music, you know, what I think is quality and what's not. Rolling Stone Magazine describes Tyler's sound as a raw look at the darker regions of modern-day Appalachia where bluegrass is in the soul but cocaine is in the blood. However, Tyler describes it a little differently. The sound I'm trying to go for is, it's a combination of a lot of things but it's like Marty Stewart says we're doing a little thing called the Hillbilly Rock, you know. I mean, grew up listening to a lot of southern gospel and a lot of bluegrass. You know, growing up in this region country music was a big influence early on. You know, I listened to a lot of Ricky Skaggs and Mary Cordell and pretty partial to D-White. So all that, you know, just welded together with some drive-by truckers and I don't really know how to explain it other than that. Those who knew Tyler early on knew right away he was something special and was destined to do big things. I teach in Lawrence County High School and I teach freshman and I had Tyler several years ago in my freshman government class. A little broad-eyed red-haired kid and I play music and a lot of people know that so me and Tyler connected pretty early because he played music. It didn't take long to figure out that Tyler wasn't like most of the other children. He was already writing songs and was interested in some pretty esoteric stuff. We always knew that he would grow. It's like, okay, we got to watch this. You know, I can't wait to see him in a few years because we know he's headed for bigger and better things. You know, wherever he is, he's going to take that next step. If you miss Tyler's show at the Mountain Arts Center, you can catch him this week on December 2nd and 3rd at the V-Club in Huntington, West Virginia. Reporting from Prestonsburg, I'm Shawn Allen for EKB News.


I just think it's important for us to continue to stay focused and continue to stick to what we believe in and try to find a way to get some wins. What do you see out of Ryan that might be a little bit different in terms of just maybe giving the ball out quicker? Well, yeah, no matter who's back there, you know, as an offense we have extreme confidence and whoever Coach Braves decides to put out there, you know, we got there back 100%. But, you know, we're just trying to do our job better as a whole. Everybody, it's not just a quarterback. It's not just one position. It's everybody as a whole, the whole offensive unit. So we just got to try to find ways to go out there and help each other and find ways to go out there to succeed. What are some of the specific things you've got that you need to do better as an offense, like you said, regardless of the quarterback? Well, it's a bunch of things you can nitpick at, but at the end of the day we just got to find ways to move the ball, stay on the field, convert third downs, you know, find ways to get in the red zone and score some touchdowns. That's what it comes down to. When a move like this is made, you know, when you're changing starting quarterbacks, what kind of effect does that have on it, you know, this week and the weeks ahead? I mean, well, right now we got no choice but to stay positive no matter what.  So we just got to find a way to bounce back, try to, you know, try to get some wins under our belt.  That's all we can do. Does anything change now that Ryan? Nothing's going to change. You know, like I said, it's all about finding ways to get victory. So we just got to come out each and every practice, try to be a little bit more detailed. And, you know, when it comes Sunday, we just got to find ways to, like I said, just stay on the field and put points on the board. I have a question about the Tigers.  So we got kind of, you know, some familiarities with it. But, you know, they fly around. They make some plays. So, you know, we got to be detailed as an offense.


Hello and welcome to CMC Markets on Wednesday the 13th of August and a slightly belated weekly market update, quite a bit of stuff to get through this week. We've got a bit of a mixed bag when it comes to equity markets over the past few days. The German DAX hit its lowest levels this year on Friday at 8,903 yet U.S. equity markets continue to remain fairly resilient despite concerns about ongoing geopolitical tensions not only in Ukraine but also in the Middle East namely Iraq and obviously the Israeli Gaza situation. I think the Israeli Gaza situation is likely to have little or no impact on market sentiment going forward. I think it's predominantly concerns about an escalation or potential escalation in the Ukraine and Russia situation and I think that's why more than anything we've seen a significant sell-off in the German DAX. Now if we can look at a chart of the German DAX we have a daily chart for that and as you can see from the horizontal line that I've drawn through the lows that 8,900 level is a really key chart point and I think that's really the key level with respect to keeping the current uptrend that we've seen in European equity markets intact. We've seen some extremely disappointing economic data across the broader Euro area over the past week or so a very disappointing ZEW survey lowest number since December 2012 and I think the likelihood is the GDP numbers that we're going to see coming out later this week for France and Germany are going to be similarly disappointing. That being said it obviously is going to increase the pressure on the ECB to look at loosening monetary policy further particularly if CPI tomorrow on Thursday rather comes out significantly worse than expected. Now the expectation is we're going to get 0.4% but we've seen some pretty disastrous CPI numbers from Portugal, Italy and Spain this week and that is really raising concerns that Europe is falling into a deflationary trap so really it really boils down to the CPI numbers the final July CPI numbers tomorrow and in that context I'm going to have a look at the Euro dollar and I'm also going to have a quick look at the pound against the dollar in the context of the US retail sales numbers that we've seen out this week which were again very disappointing declining for the fourth month in a row despite the fact that consumer confidence rose for the fourth month in a row so those two indicators appear to be diverging like an awful lot of the US economic data appears to be doing so and we'll also have be having a look at the pound against the dollar given that very significantly poor wage growth number that we saw earlier this morning and Mark Carney's comments with respect to the quarterly inflation report. So let's start with our daily Euro dollar chart because I think this more than anything is significant in the context of where we could potentially go from here. Now if we look at this daily chart and we look at the daily candles we can see where I've circled a significant area of support around about the one thirty three thirty area. Now if you look closely you can see a hammer which we saw last week. We can also see some fairly long shadows through those daily candles towards the downside which seems to suggest that markets do appear to be a little bit short of euros against the US dollar. We've also seen a potential bullish engulfing day. Now we have been in a downtrend since May and we're likely to remain in that downtrend until such times as we break above that trend line resistance from those may highs. Now we could be actually forming a potential double bottom here. The top of that double bottom is going to be around about one thirty four fifty one thirty four fifty resistance. So if we break through one thirty four fifty go towards one thirty four seventy five. We are very susceptible to a short squeeze and those daily candles do appear to reflect that. That scenario is only negated if we break below the lows that we've seen over the past few days at one thirty three thirty. It's a similar sort of story on the pound against the dollar again. It's all about interest rate expectations and for all of those people who thought we'd potentially get a rate hike at the end of or before the end of this year from the Bank of England I think this morning's wage growth numbers have made that outcome much less likely and that's really reflected in the reaction of the pound in today's price action. If we look at the daily candle chart in front of you right now we can see we've got a significant area of support that we're currently approaching around about one sixty six ninety one sixty seven. The May and June lows. We've also got the two hundred day moving average. Now looking at that chart we can see that pretty much the what the direction of travel is with respect to the current direction of travel. But given the fact that we also had a disappointing retail sales number from the U.S. the likelihood is that both the Fed and the Bank of England are likely to have to keep rates lower for longer. So the prospect of a sell off or a deeper sell off in the pound against the dollar only increases on a break below the twin lows at one sixty seven and the two hundred day moving average. Otherwise like Euro dollar we remain susceptible to a short squeeze. Now where's the key resistance. Well if we look at the four hour chart we can see where the key resistance is. It currently comes in around about one sixty eight twenty thirty trend line resistance from the highs in mid July. So certainly keep an eye on those particular levels. Be aware that we could get a short squeeze. Be also aware that we could we remain vulnerable to a deeper sell off if we break those two support zones. So that's pretty much it for this week. Once again thanks very much for listening. Just a quick reminder. Three o'clock tomorrow fourteenth of August. Colin Suzuki and myself will be doing an analyst update or an analyst debate which you can sign up for just by basically clicking on the link down here and we can then go into a little bit more detail about some of the analysis that I've talked to you about today. Until then I'll speak to you all next week. This is Michael Houston talking to you from CMC Markets.


Good good more good afternoon everyone. I'm Maurizio Pilito. I'm the devil's director at Finos and Together with the Arsalan I am Suzefield engineer and David de Rossier From Canonical we are going to present today How you can deploy legend using cloud native technologies We've heard a lot of things About legend today, right a lot of exciting news a lot of people Integrating and clearly integrating with legend and clearly people want to use and deploy it so I Feel like everyone knows what legend is right and I feel a little bit scared to say what legend is in front of The legend team, but let's keep it simple, right? So legend is an end-to-end modeling platform that Puts a strong accent on collaboration It is composed it is a Microservice architecture it is composed by Several components the components we are looking at right here are the core components we have studio which is the UI what you use on our web browser and This service is packed by two other components one is called the engine and the other one is called as DLC The back-end layer is composed by a MongoDB instance and kit lab. So Good lab can be used as a Sauce the github.com sauce offering or you can spin up your github community or ultimate enterprise version so How do we run legend? And what are the use cases right for people to actually start using this Technology so we divided the deployment options into three main blocks, right? I want to start from the one in the middle the local Run, which is to me probably the most common use case right people want to See legend running on their laptop and they want to do it with a couple of clicks for this reason the legend team have Contributed and it's part of the main legend repository github.com slash Venus slash legend They contributed a docker compose a script so you can run it you will it will use Some default configuration to actually run quickly Fast on your local host environment So these methodology my opinion is particularly useful if you want to Just do a quick demo if you want to show legend internally and You want to use like the the latest and greatest version of the of the software But what if you are trying to change the code of legend and you want to you want to see your change running Locally in that case you would need to build the software from source and This option it's probably the longest and most difficult approach It takes a little bit of time and it relies on The technologies used to build the software which are Maven and yarn Finally we have a third option which is the production ready environment so imagine that you have tested the technology your boss is happy and They want to see it actually Being used on our you know Give a wider scope to the test to the internal test in that case You would need to have a different type of deployment and although legend is Let's say it's based on cloud native technologies. So it's Kubernetes friendly Right now We don't have more up until last month. We didn't have any Kubernetes Official manifest released by the legend team to do such a thing. So It's quite exciting that in the last month, I think two Members two Phinos members have stepped up to actually contribute different ways of deploying legend specifically Suze have contributed Helm charts that you can find on github.com slash Phinos slash legend dash integration dash Helm and for those who are not familiar Helm is a packaging system for Kubernetes. It allows you to Deploy legend with one comment. That's it, right? Which is quite exciting. The other exciting thing about Helm At least for my personal opinion is that I can actually use a set of deployment scripts locally and On a production ready environment using the very same strategy, right? So This is what I did as soon as I saw as soon as I saw Arsalan and the Suze team contributing to Helm I couldn't wait like I just spun up my Local minicube and I got it running actually in a matter of minutes. So this is what I'm gonna What I actually wanted to present to you today, but then after looking at the demos of Arsalan and David I think it's probably better for you to see the what Venture and canonical can do with these technologies I'm going to actually we're gonna share blog post a couple of blog posts and this recording will be available shortly So hopefully you will be able to reproduce easily reproduce what you see today on screen Also in your own local environment or within your own firm. So I Actually have a Let me let me actually show you I Actually wrote this on a guest file, which is a little bit raw But Deploying right now legend using the Helm chart is Extremely simple, right? It's a matter of starting minicube Which is a software that is available on every, you know Distribution operating system distribution running a tunnel to allow having a public IP setting up the kitlab.com application and Start in the Helm chart. So Regardless of the prerequisites What we're really saying is that legend runs with this comment, which is quite amazing, right? so I'll If you're interested in this, please Come and find me after this session. I would be more than happy to demo these on my laptop And if you're interested even running it on yours So I want to actually invite Arsalan on stage From Suze who is going to show you what the Helm chart can do, you know using a Rancher Desktop right and the rancher sweet The demo gods are with us We are doing some of the internet so Thank you Are we okay good all right guys So this is rancher so just to give you good like a quick brief Rancher is like we can manage Cubase clusters across multiple control planes Whether it's in the cloud on-prem or around your local machine. So here we have two clusters really we have one in AWS Spend up three rancher and we have a local cluster using rancher desktop So rancher desktop is basically similar to minicube. It runs like a virtual machine And now it's all just packaged. You don't have to do it You just install the DMG file and installs a little version machine with k3s, which is what our CNCF 100% of Kubernetes cluster. So it's edge Based from here. We can you know change the Kubernetes settings if you wanted to but this just creates a Kubernetes cluster just from a click From this you can see we'll have you know You can just connect to it or add it to your local context And you'll have a Kubernetes cluster up and running that simple from just installing rancher desktop What you can do is you can bring that into rancher and then manage that from there So this means you can deploy applications to it and actually manage the workloads running inside your cluster So from here, we can always see spin-up clusters in multiple environments all from a single control plane Or we can just import it, which is what I did so you can go check out rancher desktop for that So once we actually deploy rancher, so here we have the local Mac That's what's running on my machine, you know We can see a rancher will you know the helm shop will deploy the engine the studio the server and Just using rancher we can you know, we can do some simple tasks like we can review the log We can drop into shell from here. The one thing I'll say is when I created this helm chart I kept its source of truth similar to the docker compose I use the docker compose files that the legend people have and just made the helm chart around that So there's no deviation between it and there's less Changes to keep up. So from that, you know, we can actually deploy Legend so what does the deployment look like? So the first thing we would do is we would drop in the helm repo and which is on the legend GitHub and from here we can configure our Chart so here we put in the URL. So this could be like our local machine So since we're running on a Mac we can use n grok That's our hostname if you have a private get lab We can throw that in there our secrets if you do want if you do have it on the cloud and you want to do HTTPS You can add a secret. This is just a kubernetes secret and in a blog post There's details on how to create the secret it could be let's encrypt That's what I've used and that basically just creates it over a secure session. So that means it'll serve over HTTPS Once we have it deployed and we hit install So if we could later on and come back and change this So for example if we come in to install apps and say I want to update one of the images, right? I have legend deployed here. I will do edit upgrade So one thing that if you use helm on the command line what happens is sometimes you lose your values You don't know what values you choose again rancher would help you store that we can come in here and say go to images on Take this and we can bump up the images Individually for the studio for the server and you know, it's quite easy to inquire diversified how to actually roll out changes then we could use built-in tools like monitoring inside and Rancher so I think I dropped my connection that but this gives us CPU and memory usage of all the Different components and also let the bandwidth so we can use kubernetes principles and then apply like horizontal pod security policies Auto scaling so that means it can scale up and scale down if there's no load on the server or the engine Just using kubernetes knowledge rather than having actual direct infrastructure knowledge From that so here we have so once we have it deployed so this one's running on my machine as you can see is using the n grok URL and This one is using the normal HTTPS, which is running in AWS And that's about it Yeah, try to keep it minimal didn't want to break it of course. We're gonna really well so Well, you can you can keep it hooked so David can present from here So as we mentioned before This is this is what was Enabled by the fact that Suze contributed a hand chart, but prior to that canonical Started working on an integration with Technological the juju which actually provides like more support to the to the deployment and runtime of the architecture And I'll let David walk you through this sure. Thank you You make sure we get on the right slide here So we put together a series of charms that basically compose the the Legend application together, so if you haven't used you juju juju as an orchestrator that allows you to not only Configure and manage your application or your infrastructure, but also orchestrate components together relate them together with a single command So here you can see this single command is juju deploy fin os legend bundle that bundle exists upon charm hub dot IO and It pulls down a series of inside that bundle. It's a simple yaml file It pulls down a series of different charms those charms define each of the discrete components that are part of the legend Application so within this deployment here. It actually will will handle all of the interrelations between those discrete applications I'm not gonna actually do that. Whoops. Sorry I'm not gonna do the actual demo because I have a Pre-recorded session here that I'll walk you through I do have infrastructure sitting with me today that I can actually show you outside That I can do this live. I can show you exactly how these components work, but whoops. Let's make sure we get access. Oh This is not gonna play Yeah, let's let's do that. Sorry. That's okay. He's access to Google Drive. Sorry as long The demo deities have struck us again Yeah, it should be fine there you go present mode. Oh, you have the same same issue Request access I do. Yeah changes Luckily, we've got enough time. Is that any question? While we're we set up this is anyone wanting to use I can't know someone does Someone in the audience, but if you have any question what we set up Well, we set up the demo of juju, please Yeah, so it's a it's a Containerized architecture right so this is the core and we have five components now Slowly the legend team is releasing more components. We just open sourced another component called Depot and There is I'm not sure Pierre help me out here. Is that any other component? The relational database The quity. Yes. So like I would expect the the legend architecture to get to grow a little bit wider, but in general like the main like the The bulk load is done by the engine As DLC is just a facade of the github.com API and Studio is the UI so it's although it's quite articulated the load is more on the front end, right? Because it runs on the browser But yeah, that's I don't know if that answers your question. Yes Legend the dash integration dash helm. So it's it's quite interesting to also see like this type of integrations like Becoming part of the legend project Although the lead maintainers of these components will not be the Goldman Sachs team, right? so we actually see Laboration at work and Actually the possibility to to actually scale out the development of such a you know important and big Infrastructure, it's just so much easier Right so Right now Within the official legend code base as I said before right you have You have one way to run it locally And with with the technology Docker compose that is not suggested to be used as in production to be used in product It's not a production ready technology or you build from source, right? So you take the source code of legend and it takes roughly one hour ish to build the jar files and And the yarn of the web pack package that you can later run up to you Right now again, like I feel like this was we have to keep in mind that legend was Contributed a year ago and it was a huge endeavor and yes We kind of like I think that consciously the legend team like prioritized Things like full open sourcing documentation as DLC And the relational database mapping And I feel like right now like seeing the uptake of this technology and the community wanting to deploy it That it was a natural reaction to actually invest more into deployment, right? So my personal take is that These technologies are the future of production ready deployments for Legend, right? But again, keep me honest here folks Okay, so that silence means a lot to me So I hope I answered your question Sorry for the technical difficulties all okay, so let me walk you through this as is it working? Yeah, okay good AV challenges So I'll walk you through this I do have like I said a live demo here We're just running juju status this just tells us the status of our controller our models We ran juju clouds here. It actually shows. I'll just pause oops just pause this So this actually shows us the clouds that are assigned in this particular cluster right now There's none assigned then we're gonna bootstrap a microkates So we're gonna bootstrap a juju controller inside the existing Kubernetes Cluster that's already there you see microkates just a few lines above We're gonna bootstrap the juju controller juju controller is not a it's not a physical entity It's a logical entity that basically allows you to manage the substrate below and the applications above that controller It's already deployed that controller now we're gonna go ahead and add the model to hold the Application the legend application the model itself is essentially equivalent to like a Kubernetes namespace It's a it's a canvas that you aggregate all of your applications into you can we'll talk about this in a few slides later You aggregate all your applications your permissions your roles all that into the model a Controller can have multiple models and a juju can have multiple juju instance can have multiple controllers So this one happens to be talking to microkates. I can also have a controller that talks to AWS GKE vSphere local hardware of mass Now we're gonna put the status of juju under watch here so that we can see what's happening as it's deploying that so you Probably missed it there for a second But that I actually executed the juju deploy bundle and then this is actually going to deploy the charm version of the legend Bundle which includes all of those discrete applications It's going to relate all those applications. You'll see that some of these are going to go into a blocked state that block state is because The application itself requires a couple of actions that happen out of band of the deployment itself one of those is going to Git lab and getting an authorization token and then using that authorization token to authorize STLC and studio so you'll see that here. We'll just pop out really quick. We'll launch a browser We'll grab those auth tokens From inside git lab so this is the git lab instance that's running inside the docker container that was run as part of this bundle We grab that authorization token and then we authorize the studio You're gonna see here that it's importing the certs This is this step right here is no longer necessary, but it will create the certs then it will use that authorization token to authenticate the API and Then we pass that token into a juju config here So basically what I'm doing instead of editing a big long yaml files I'm saying juju config add that token to the end of the specific application that git lab needs now You'll see these services come back up. They're all green and active, which is what we expect Everything is related then we'll go ahead to the STLC Sorry, we're gonna go to the studio here now that we've gotten the token for a git lab itself We're gonna go to the studio. We're gonna authorize the studio to use that git lab instance You'll see here. We'll go to the studio URL and it will tell us unauthorized in a moment So legend is now up but not authorized for this user So you'll see that when we go to the actual studio and try to visit that to use and interact with it You'll see unauthorized there in the bottom right corner Now we have to do one more action outside, which is to get the authorization token for that interface We get that from the STLC. So you'll see that here. We go to STLC pop that into the browser and And then we'll authorize that and then when we reload studio, we'll be back into studio and that's it It's about six minutes end-to-end when you go through all the different steps And you're you're up and running in studio There you go. And now we're gonna authorize STLC now when we reload studio We got unauthorized before now we're gonna go ahead and reload studio and you'll see that we have success and Now you have a canvas that you can start to begin to build your models from It's literally that simple Any questions? So I could talk about juju later outside. I can talk about how this model works outside I have a live demo if anybody wants to see all the mechanics and what goes on behind the scenes here as well So we can talk about that Just really quickly here These are the different Resources that juju can actually manage deploying this onto so you can pull this onto on-prem local Public cloud hybrid cloud you can have your MongoDB locally you can have your STLC on public cloud You can deploy your machines with mass you can deploy this in any sort of heterogeneous way that you that you want The juju controller sits on top of that So it's essentially just an agent that runs that the juju client talks to and then deals with the applications in the substrate above it And then juju bootstrap will build that controller onto those environments Then you can use juju to deploy apps like legend like we did here from charm hub.io And there's hundreds of applications up on charm hub that you can deploy with juju including things like OpenStack my SQL Postgres Grafana and so on The model that we talked about when we did the add model again This is just a canvas where you compose your different applications. It provides service isolation So it's separate from other models separate from other controllers It provides access control so you can manage the access to applications and services within that model It also is a repeatable entity. So you can you can deploy multiple times idempotently And it isolates the boundaries between the different applications and services from Themselves as well as from other models and other controllers that you might manage If you had to do this manually, these are the discrete steps that you would do it you have to deploy each one of those individually and then Relate them together, which is what the bundle does for you So each of these applications has a relationship mango has a relationship to stlc Some of those have a relationship to gitlab so that you can gitlab requires a token legend offers that token and so on And that's essentially what the integration is between the relationships of The charm that builds all this together for you So all the operations the day two operations the configuration the management of that cluster All happens as part of that bundle when I did juju deploy all of this happens automatically So you don't have to sit there and log into each of these different services and manually configure all those The charm actually handles that for you the charms are managed by the community for the most part So all of that that tribal knowledge that goes into how to configure and how to manage and how to do those day two And through day and operations is up on charm hub.io And that's it Thank you still got Two minutes for questions Go Ali Which kind of operator? CNCF I do believe there's some some discussions on that I can talk the outline outside we can we can figure that out Yeah, there's there's certainly um, it's a very dynamic community So there are discussions about creating charms for a number of different things legend is just one of the examples But we can certainly canonical can help you create charms for public applications or internal applications We have the notion of the charm hub.io Which is a public charm store But you can also have an on-prem charm store as well that you can use for your own internal versions of of charms that you don't publish to the community for example And as far as I understand juju and the charms use kubernetes operators as a technology. They do. Yes So it doesn't require kubernetes that just happens to be something that is used here juju and kubernetes are separate entities juju can operate and manage and orchestrate kubernetes as well as other services like a full open stack or a full Postgres cluster or something like that Any other questions? Wow, fantastic. Sorry for the technical difficulties, but we made it I made our way through we thank you so much for coming Thank you


Not at all. No, no way. No, but it's certainly an integral part of it. The amount of times I hear people say that and it really kind of upsets me. No, absolutely not. It's so rewarding. Sitting down and listening is the most important thing that I do.