Inside Job Transcript - Final Version - 9.30.10 - Sony Pictures Classics
Inside Job Transcript - Final Version - 9.30.10 - Sony Pictures Classics
Inside Job Transcript - Final Version - 9.30.10 - Sony Pictures Classics
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<strong>Inside</strong> <strong>Job</strong> transcript – <strong>Sony</strong> <strong>Pictures</strong> – September 2010 67<br />
02:33:15.19<br />
{THE PRESIDENTS OF HARVARD UNIVERSITY<br />
AND COLUMBIA UNIVERSITY REFUSED TO COMMENT<br />
ON ACADEMIC CONFLICTS OF INTEREST.<br />
BOTH DECLINED TO BE INTERVIEWED FOR THIS FILM.}<br />
CHARLES FERGUSON: So, uh, what do you think this says about the economics<br />
discipline?<br />
CHARLES MORRIS: Well, heh heh, heh, it has no relevance to anything, really. And,<br />
and fe-, indeed, I think, um, it's a part of the, it's a s-, important part of the problem.<br />
02:33:32.23 {PART V: WHERE WE ARE NOW}<br />
02:33:47.10<br />
NARRATOR: The rising power of the U.S. financial sector was part of a wider change in<br />
America. Since the 1980s, the United States has become a more unequal society, and<br />
its economic dominance has declined. Companies like General Motors, Chrysler, and<br />
U.S. Steel — formerly the core of the U.S. economy — were poorly managed, and falling<br />
behind their foreign competitors. And as countries like China opened their economies,<br />
American companies sent jobs overseas to save money.<br />
02:34:24.15<br />
DANIEL ALPERT: For many, many years, the 660 million people in the developed world<br />
were effectively sheltered from all of this additional labor that existed on the planet.<br />
Suddenly, the Bamboo Curtain and the Iron Curtain are lifted; and you have 2.5 billion<br />
additional people.<br />
02:34:41.16<br />
NARRATOR: American factory workers were laid off by the tens of thousands.<br />
DANIEL ALPERT: Our manufacturing base was destroyed, literally over the course of a<br />
few years.<br />
02:34:49.23<br />
NARRATOR: As manufacturing declined, other industries rose. The United States leads<br />
the world in information technology, where high-paying jobs are easy to find. But those