Exclusive - Al Gore Extended Interview Pt. 2

  • Aired:  01/30/13
  •  | Views: 48,836

In this exclusive, unedited interview, author and environmental activist Al Gore calls for a change in American-style capitalism. (3:01)

[CHEERS AND APPLAUSE]

>> Jon: WELCOME BACK.

WE'RE TALKING HERE WITH VICE PRESIDENT AL GORE.

WE'RE TALKING EARLIER.

IT'S ONE OF THE MOST INTERESTING PIECES IN THE BOOK IS THIS IDEA OF SUSTAINABLE CAPITALISM.

>> YES.

>> Jon: WHICH IS DIFFICULT BECAUSE IT'S LOOK BY DEFINITION A VORACIOUS OVEREATER.

[ LAUGHTER ]

WHAT DOES THAT MEAN AND AS DIFFICULT AS THAT IS TO PRACTICE BECAUSE AGAIN YOU COULD HAVE

SOLD IT TO SOMEBODY NOT INVOLVED IN OIL BUT YOU WOULDN'T HAVE GOTTEN AS MUCH FOR SHARE HOLD

YERCHLZ I HAVE A RESPONSIBILITY FOR SHAREHOLDERS AND EMPLOYEES.

WE HAVE TWO POWERFUL TOOLS TO SHAPE THE FUTURE.

ONE IS DEMOCRACY AND THE OTHER IS CAPITALISM.

THE ALTERNATIVES TO DEMOCRACY HAVE BEEN TRIED TO AND FOUND DISASTROUS.

THE ALTERNATIVES TO CAPITALISM HAVE BEEN FOUND WANTING.

WE KNOW IT BALANCES SUPPLY AND DEMAND, MORE CONSEUSSIVE OF HIGHER LEVELS OF FREEDOM AND

UNLOCKS THE FRACTION OF THE HUMAN POTENTIAL BUT IT'S ASSOCIATED WITH MARKET DISRUPTIONS BIGGER AND MORE

FREQUENT, SHORT-TERM DECISIONS THAT REALLY HURT THE ECONOMY, WITH THE MISMEASUREMENT OF

VALUE, MISALIGNMENT --

>> Jon: THERE'S COLLATERAL DAMAGE TO A WINNERS AND LOSERS MENTALITY.

>> THE SHORT TERMISM IS ONE.

THOUGHTS WERE HELD ON AVERAGE FOR SERCHES YEARS NOW IT'S LESS THAN SEVEN MONTHS.

60% OF THE TRADE AND IN LONDON ARE BY THESE AL GORE ALGORITHMIC JORKS FLASH TRADES.

WE HAVE THE FLASH CRASH WHERE THE MARKET DROPS 1,000 POINTS AND BACK AGAIN THEY HAVE NO IDEA

WHAT HAPPENED.

THEY PROPOSED A NEW RULE, MY FRIEND JOE STIGLETZ SAYS OFFERS TO BUY AND SELL HAVE TO REMAIN

OPEN FOR ONE SECOND.

[ LAUGHTER ]

THAT PROPOSAL WAS REJECTED.

>> Jon: WHEN HAS TIME?

WE'RE TALKING ABOUT A SECOND.

>> ABSOLUTELY.

CAPITALISM THE WAY IT'S OPERATING NOW REALLY NEEDS TO BE REFORMED.

OUR DEMOCRACY HAS BEEN HACKED.

IT'S BEEN TAKEN OVER.

IT NO LONGER OPERATES THE WAY OUR FOUNDERS INTENDED IT TO BECAUSE ANONYMOUS DONORS, BIG

MONEY, CORPORATIONS AS PEOPLE, MIGHT MAKES RIGHT, THE LOBITY L-YISTS AND SPECIAL INTERESTS

ARE IN CONTROL.

THEY CAN'T DO ANYTHING WITHOUT BEGGING PERMISSION FROM THE POWERFUL SPECIAL INTEREST.

IT'S TIME WE TAKE OUR DEMOCRACY BACK.

KIT BE DONE.

[CHEERS AND APPLAUSE]

-- IT CAN BE DONE.

[CHEERS AND APPLAUSE]

>> Jon: HERE ISER IS WHAT WE'RE GOING TO DO.

CAN YOU STICK AROUND?

>> YEAH.

>> Jon: THE FUTURE.

WE'LL TALK WITH THE BOOK AND THE COMPLICATIONS AND THE DIFFICULTIES OF IT.

AL GORE WILL BE BACK ON THE

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