Dr wolf had a unique lucid style of presenting modern Marxists theory. Thanks for this noble cause. I appreciate his noble task of his knowledge of socialism.
But you'll never hear him discuss how China on the eve of Mao's 125th birthday in 2018 disbanded Marxist study groups and labor activist organizations on university campuses and rounded up their leaders.
Funny his energy doesn't seem to extend to reading the comments here, or answering the questions that have been repeated over and over for as long as he has been doing this.
He is a professor, a lecturer. He just need a sip of water now and then and occasional bite, he can lecture for four hours, detour and not loose the thread. A skilled good high school teacher can do the same. It's practice of telling a long story every teacher has to master.
Including them...that is very inconvenient for Wolff...and a little less so for Hudson...but still inconvenient when it gets to the destruction of capitalism post WWII.
They didn't educate you...and the only thing the youth are being educated to question is their obvious sexual identity. As for your advice, you should begin by grasping the meaning of the concept of "everything."
In Yugoslavia (which nobody ever mentions for some reason) we had state capitalism as an economic system (with some participation of the workers in decision making that we called self management) but in political and social sphere we had socialism. But we were blinded by the colorful toys in the window shops and we wanted more so we lost what we had. Serves us right.
Capitalist governments did a great job with propaganda, because they sold the idea that everyone would be like the Capitalist, with all the best luxury that money could buy, when in reality all but the smallest portion of society would be worse off than the average citizen under Socialism. Another deception was that hard work would lead to more wealth in a Capitalist system. There’s no doubt that if you start a small business and work really hard and get some lucky breaks, you can make a comfortable living, but at a certain point in growth if you’re following the traditional business model (not a co-op) you’re relying more on exploitation of others for your wealth than on any level of hard work on your part. That’s just how the system works. Not to mention that even having that opportunity requires you to already have some wealth accumulated, which in today’s society is almost impossible with the amount of wage you can earn and the expenses that exist. So most people just get stuck in a cycle of barely getting by until they die. Also, what is starting a business other than securing the means of production? Why don’t we just skip that and have all workers own the means of production? Even as someone in what would be called the “labor aristocracy” I’d take an economy for and by the people over the exploitative fiasco we have now any day.
Yugoslavia is a Great Mistery :) isn't it? I am one of few lucky who knew it, and still know the feeling being a part of Yugoslavia. What a place that was! :)
@@jgalt308 Haha. The only analyses that has the potantial to be serious is a marxist one. The only people to be taken seriously are people who understand this.
Professor Richard is humble and on point with his analysis as always. I always look forward to his 2 hrs+ lectures because he can tell one story over in a different way but his use of different perspectives and words always reinforces his delivery of the same points. He gets even more mellow with time and encourages us to accept our small period of existence in the wide expanse of time... It all boils down to a shared hope.....
See the Canadian anthropologist, Wade Davis', The Wayfinders, for a further demolition of the narrow pecuniary ideology of incentives. Esteem is a much stronger incentive than money or material rewards. It always has been.
Thank you Professor Wolff. Thorstein Veblen offers his thoughts in his book "Theory of the Lesiure Class". What Do you think his theory says about the relationship between Capitalism, Social class structure, and the family unit?
Many years ago I learned about the history of imperialism and its impact on both India and China reading the works of Marxist economist and historian Ernest Mandel. At the time I was reading his writing, he was controversial because he was also known as a Trotskyite, but then I considered that Trotsky would have been a better leader for the Soviet Union than Stalin was.
I've huge respect and admiration for Professor Wolff and have learned much from him. That said, I've just one disagreement here. Professor Wolff asserts that capitalism has no slavery. But doesn't prison labor count as slavery?! We have prisoners risking their lives putting out forest fires for mere pennies per hour. We have prisoners working for large corporations without compensation. How does that not count as slavery?
Depends on what you mean by democracy... In the case of actual capitalism, democracy exists when the consumer spends his money and is most effective in a free market where the price is determined by the supply of what has been produced, and the for it demand. In government, democracy is the tyranny of the majority...which can take what it wants from anyone.
@@jgalt308 Lol, I dare you, challenge me. Na, you won´t, you rather repeat Eliza Rosenbaum´s/"Ayn Rand"´s BS that she wrote after reading Schopenhauer (without understanding even 10% of Schopenhauer)...
It has been challenged...but instead of a label it cannot comprehend...it drops names, instead of an argument that explains why the simple statements made are not true. I guess ..."Depends on what you mean by democracy..." is also beyond its comprehension. and the mindless babbling will probably continue...
The way civilizations work there will always be leaders and followers. Is then the best civilization not just one in which the leader shares benefits with the workers? Should profit be shared equally or on the basis of level of risk/production? How would Marx answer this?
As the Marxist has demonstrated, their leadership produces ever diminishing benefits, which were expropriated from those who can actually produce them, leading to the starvation of the workers until they rebel and get rid of them.
Please explain the impact of The General Theory to develop the theory of Relativity and The Ahimsa or Non.violence theory of Mahatma Gandhi for social struggle as an effective tool, will influence the future Marxists and future human society of this planet?
If you click on the "transcript" function, it appears in the "chat window"... and essentially useless. This is not provided here...and actual "transcripts" are NOT convenient for Wolff's purpose.
For the vast majority of history, those in power always manipulated us into submission. most often with sticks or some invisible carrot. If you got stuck on an island, would you prefer a pouch of gold or one of potatoes? What is "value"?
Both are commodities and one can be exchanged for the other depending on circumstance. It is the circumstance which determines the relative value of any commodity. You have created a circumstance which determines the relative value. How about the choice between a sack of potatoes and fishing equipment? Or the value of the world's best boat builder who demands that pouch of gold? Isn't real economics fun??????
@@jgalt308 Value, commercial value is fictitious and wealth is addictive. Potatoes (and fish) are real. What are you going to do when commercial fishing is not worth it anymore? Or when you can't grow potatoes on your land anymore? Economics today might be fun for some, but it's also generating destruction. How much is worth a planet with complex life forms on it? Economics used to mean good management of the suff in the home. We lost the good management part because wealth is addictive. (summarized) “Wealth is addictive, the rich will eventually destroy society” - Socrates
@@jgalt308 Why would I like your answers? Economy is NOT a science. It is indefensible. A meteorologist does not have to worry that the weather may change it's ways because he or she has made a particular prediction. Whereas in social sciences, whether is sociology, economics, whatever. The phenomenon really cares about our theories about the phenomenon. Because, as theories have the capacity to alter our behavior - Yanis Varoufakis
@@a.randomjack6661 They would be your answers...not mine. BTW the faux Nobel, Bank,of Sweden Prize for economic sciences will be announced on Monday. So far your posts are non-responsive...so like Wolff avoidance of meaning is a requirement. And they are simply being examined for consistency. But you refuse to engage. If you want my analysis of the video...posted 2 hours ago...feel free to scroll down as I am sure it's at the bottom. Then you can ask questions, or argue, or whatever.
All people being hosted by social media define capatilism with one single word free market but in reality there is nothing absolute free market as government intervene let's say at emergency situations can we call this as instant a socialism or there a fine line between socialism and capatilism with single word if possible
1:35:50 - 1:43:13 I'm not so sure if I agree with his take on this topic. Can the Marxist analysis truly be applied to the household formation? I can see some parallels between the function of a household and the function of an economy but I'm doubtful that the two can truly be compared. Beyond that I think the culture of which the household is ingrained gives merit to the validity of feminism. The claims and gripes of feminism only have legitimacy in some cultures, in others they are baseless.
One will have to understand the classes and there are sub ordinate gradiation too what capitalism have developed,lower middle class,higher middle, average middle class and middle class is lot of capitalism
I think this 'capitalist democracy' will remain in force as long as a sufficiently large and strong middle-class wage-earning population is doing well or at least tolerably well. The wage earners in good employment relationships and in strong positions clearly belong to the middle class with all their lifestyles, and they do, as a rule, want to support the system that supplies them this. People don't care that much about any real democracy. As long as you are doing well or at least better than those who are doing poorly, that is enough for most of as.
Capitalism: a system in which a populace-minority of people get to vote. Democracy: a system in which a populace-majority or people get to vote. Capitalist-Democracy: a system which does NOT, can NOT, & will NOT exist. The entire world is bought, owned, bribed, & controlled by the corrupt, wealthy-class minority & their corrupt RW-politics of enslavement of the working-class majority. The wealthy-class authoritarians will NEVER willingly give up their lifestyle-addictions. They will NEVER willingly seek treatment for their mental-illnesses. They will NEVER stop trying to avoid physical & manual labor. They will NEVER stop trying to enslave working-class people. They will NEVER willingly allow Democracy to exist. They will NEVER allow the working-class majority to vote in any meaningful way. DON'T be fooled -- 'capitalist democracy' is not a real thing -- and STOP trying to fool others.
25:30 “… to finally take us beyond the capitalist system. Everything here is premise of following idea… the human race can do better than capitalism… It is not the end; it is not the perpetual; it is not the always has been… It is none of those things… and it is desperately trying to hold on to get people to believe all of that… and it isn’t working.”
Marx believed that the transition from capitalism to socialism or communism could be through a an intermediary state economy. Then the state will finely despair afterward... Isn't it?
In 2021 Xi gave a speech at the Central Economic Work Conference attacking welfarism and pledging China would not opt for a model that would “uplift a group of lazy people who gain without working,” with explicit derogatory references to South American “populism.” This type of language might as well be coming from a right-wing fundamentalist in the US.
I agree with your sentiment (even if you don't agree with my following sentiments). The Chinese have allowed a wealthy-class to flourish in China; wealthy-class politics are RW-politics; Xi is now a member of the wealthy-class, and, thus (as far as I'm concerned) he IS a RWer. The next world-war won't be between Capitalism & Socialism, like the wealthy-class wants the working-class to believe. The next world-war will be over the same thing as the previous two world-wars: the wealthy-class authoritarians and their corrupt RW-political-systems of Capitalism, Corporatism, & Fascism.
In continuation to what I said that capitalism is not bad if USA has not politically waged wars in other countries through whatever means in other words capitalism can't be assessed in absolute economic perspective but there a political dimension which unstabilize the capatialisim
Richard, do you know what is happening at the end of socialism/communism in the Soviet Union, Warshava block, Yugoslavia? China is more capitalist then USA but with one strong political party, unfortunately educated professor don't understand economy on high scale. I know more about socialism/communism than YUO, and also about nationalism and so-called democracy. Karl Marx never worked a day in his life, but he got a prosperous marriage and Engels a paying sympathizer. My genie is Nikola Tesla, not Karl Marx or Darwin.
It's easy to criticize "capitalism", esp. given the distortions and cronyism and central bank nonsense, and Marxists do a great job at criticizing. But what Marxists fail at is providing an alternative. As a non-Marxist I can both criticize and provide an alternative, ie, a market based system without central bank shenanigans and the corporate cronyism. What we need is not more of the unbalanced criticism of capitalism, but tell us how Marxism can be a practical alternative. Explain how Marxism will work in everyday life, from the local street vendor, shop keeper, to the big companies. How do profits get distributed? Who takes the risks? How are decisions made? Do prices play a role as a market signal? If not, then what? I'm surprised to learn that China's model is actually "Marxism." I always thought it was "capitalism", but with Chinese socialized characteristics. Now, if China is what Marxism is, then I don't see a whole lot of difference between so-called capitalism and Marxism, except that Western capitalism is completely corrupted at this stage. Something else that Marxists often leave out is that Marxism is not just an economic model, but philosophical IDEOLOGY. It speaks to not just the realm of economics, but life itself. But what if you don't agree with its philosophical dogma in regards to life and the nature of reality?
That old crap? 😂 What has come since. Before you say what the USSR had was Communism let me tell you the most important thing in Communism is worker owned work places.
@@vivalaleta Communism and socialism came after capitalism. They are disastrous as their own systems. They can be used to temper capitalism, but it is still the only way to drive economic progress.
Here we go again. Another weekly anti-capitalism video by The Nutty Professor. The DOW hit a record high this week and everyone with a 401k is loving the PROFIT they have earned through capitalism including The Nutty Professor. Don't let Wolff fool you. He takes every cent of PROFIT he earns in the market from HIS pension and other retirement accounts. Wolff talks the talk but doesn't walk the walk.
Could you please have a student that can speak a bit better English. It is not possible for me to listen to him although I would very much Licht lo listen to Mr Wolf I have to skip this.
These people don't speak English. They're just convinced that they do. This is Indianish. Every bloody word is mispronounced. While it might work great as lingua franca in India, anywhere else it's just pointless, and painful to listen to. Let's not do this again...
Why should Indians care about the authentic pronunciation of this bloody language? English is foreign to Indians. In fact, the Westerners should be grateful that Indians always happily take the trouble of speaking in your language while interacting with you people, which Indians certainly shouldn't. Sometimes, you speak in hindi and let us have the opportunity to judge your pronunciation. India is home to more than 100 languages. Some of them stand out as the most beautiful languages in the world. So, Indians don't need English. It's the colonial hangover that some people are yet to get rid of. Also, imperialism of the English language has added to this burden in recent times. Otherwise, most of the Indians hate English. It's equally painful for us to speak in this bloody language, leaving our own languages. Still, what we say you are able to understand. But I'm certain that if you try to speak in our language, that will sound horrible. Come out of the illusion of superiority. From now on, think twice before putting forward such an illogical argument.
I'm a life-long English speaker & I understand them just fine. Your inability in this realm is a "you" problem. And whether your problem was previously-imposed by others or continually-selected by yourself, your comment isn't the flex that you think it is. Congratulations... 🥳 ...you're a moron, just like the wealthy-class masters designed you to be with their corrupt RW-politics. 😒 You LITERALLY don't have to watch. You LITERALLY didn't NEED to comment. You LITERALLY could have kept you ineptness & ignorance to yourself. But you, like so many other working-class dupes, have been brainwashed into thinking that your ignorance is a badge-of-honor to be proudly displayed in public. And the brainwashing, coupled with your ignorance, brought you to think that your comment was worth posting in public. The corrupt, wealthy-class authoritarians LOVE working-class dupes like you, because your ignorance is how they maintain their authoritarian RW-politics of enslavement over the working-class. Again, congratulations. 🙄
Instead of pie in the sky ideas. We should discuss proposal that introduce change like campaign finance reform. And stronger regulation of corporations. Or nationalization of certain services
It would take a revolution by the mass population of any capitalist country to rise up and call for a general strike until those demands are met. In the world today where the entire Collective West has been captured by Neoliberalism with it's side effects of racism, hyper individualism, zero sum gain mentality, and consumerism. Also with the rise of Right Wing Fundamentalism, it would be very difficult to move in that direction.
Your rhetoric in the first sentence makes it seem as though you believe that socialist-ideas are "pie in the sky" ideas. But then you say we should do three things that are much more in line with the ideas of socialists. You've made it seem like your understanding of "pie in the sky" ideas have been misguided by "cranium in the rectum". Socialists would vote for campaign finance reform, regulation of corporations, AND nationalization of certain services. Those three things may not be the end-goal of socialists, but any reasonable, logical, and competent socialist would vote for those things. Maybe you didn't do a good job of writing what you meant. Or maybe I misunderstood.
@@robertfelts8773 I just can't vote for her. She's a grifter like Trump. She's taken downward the former Green Party, she' destroyed the Green Party. She's a narcist and needs to leave that party. She only shows up during when an election comes around.
For those that want to expand your mind, rather than listen to the same mantra without question, research various schools of thought.... ruclips.net/video/17krz_X883I/видео.htmlsi=MzHAW4pPUY4rUEma
![Global Capitalism: The U.S. Election and Trump 2.0 in Historical Perspective [November 2024]](http://i.ytimg.com/vi/0-WR6Zq7Qec/mqdefault.jpg)
![Global Capitalism: A Marxist Critique of Capitalism for 2024 [May 2024]](/img/1.gif)
professor we need you more then ever
Why?
@@jgalt308 troll
@@jgalt308Because he is able and willing to identify, adress and challange the main causes for our global crisis today.
Brave and Brilliant economist Dr Wolff 👏
Dr wolf had a unique lucid style of presenting modern Marxists theory. Thanks for this noble cause. I appreciate his noble task of his knowledge of socialism.
I agree
So, can you give us a summary and the definitions of the "economic systems" you now understand?
But you'll never hear him discuss how China on the eve of Mao's 125th birthday in 2018 disbanded Marxist study groups and labor activist organizations on university campuses and rounded up their leaders.
@@jgalt308 troll
Having not formally studied economics, my understanding of this is a testament to Dr. Wolff's power to teach. Thank you!
So, what do you think you have been taught?
@@jgalt308 your name sucks
You should actually study economics then instead of listening to this buffoon
@@jgalt308 troll
I'm not sure where Professor Wolff gets the energy to do so much public education. I'm happy he's doing it, though.
Honesty & healthy philosophy gives collective wisdom & energy to unite :)
Funny his energy doesn't seem to extend to reading the comments here,
or answering the questions that have been repeated over and over for as long
as he has been doing this.
Do not confuse education with propaganda and indoctrination.
He is a professor, a lecturer. He just need a sip of water now and then and occasional bite, he can lecture for four hours, detour and not loose the thread.
A skilled good high school teacher can do the same. It's practice of telling a long story every teacher has to master.
Wolff & Hudson educating youth before they pass for them to carry on the work. Question Everything.
Including them...that is very inconvenient for Wolff...and a little less so
for Hudson...but still inconvenient when it gets to the destruction of
capitalism post WWII.
They didn't educate you...and the only thing the youth are being educated to question
is their obvious sexual identity. As for your advice, you should begin by grasping the meaning
of the concept of "everything."
Yes. Hudson and Wolff are both very intelligent and interesting that they elevate any conversation.
And yet their understanding of history and economics is diametrically opposed,
as well as the definitions of "capitalism" and "marxism".
@@jgalt308 troll
In Yugoslavia (which nobody ever mentions for some reason) we had state capitalism as an economic system (with some participation of the workers in decision making that we called self management) but in political and social sphere we had socialism. But we were blinded by the colorful toys in the window shops and we wanted more so we lost what we had. Serves us right.
Capitalist governments did a great job with propaganda, because they sold the idea that everyone would be like the Capitalist, with all the best luxury that money could buy, when in reality all but the smallest portion of society would be worse off than the average citizen under Socialism.
Another deception was that hard work would lead to more wealth in a Capitalist system. There’s no doubt that if you start a small business and work really hard and get some lucky breaks, you can make a comfortable living, but at a certain point in growth if you’re following the traditional business model (not a co-op) you’re relying more on exploitation of others for your wealth than on any level of hard work on your part. That’s just how the system works. Not to mention that even having that opportunity requires you to already have some wealth accumulated, which in today’s society is almost impossible with the amount of wage you can earn and the expenses that exist. So most people just get stuck in a cycle of barely getting by until they die. Also, what is starting a business other than securing the means of production? Why don’t we just skip that and have all workers own the means of production?
Even as someone in what would be called the “labor aristocracy” I’d take an economy for and by the people over the exploitative fiasco we have now any day.
Yugoslavia is a Great Mistery :) isn't it?
I am one of few lucky who knew it, and still know the feeling being a part of Yugoslavia. What a place that was!
:)
I love wolf so much that I automatically subscribe to any channel that features wolf
Great job prof! We need this type of serious marxist economic analysis. Now more than ever!
There is no such thing as "serious marxist analysis"...nor is it present here.
Haha. The only analysis that has the potential to be serious is a marxist one.
@@rubennordberg8133wrong. Marxism is to economics as flat Earth is to astronomy
@@jgalt308 Haha. The only analyses that has the potantial to be serious is a marxist one. The only people to be taken seriously are people who understand this.
@@jgalt308 troll
Deeply informative and fascinating discussion. Thank you Professors Wolff and Azhar, Tathagat Singh.
So, what do you think you have been "informed" about?
@@jgalt308 troll
Mr. W😊lf & Mike Hudson combo my favorite
+1 ❤
Professor Richard is humble and on point with his analysis as always. I always look forward to his 2 hrs+ lectures because he can tell one story over in a different way but his use of different perspectives and words always reinforces his delivery of the same points. He gets even more mellow with time and encourages us to accept our small period of existence in the wide expanse of time... It all boils down to a shared hope.....
The only thing he manages to accomplish every week, is that he has
no clue what any of the words mean, proving that you don't either.
Ask yourself, am I better off financially after listening to Prof Wolff?
The analysis provided in here is inspiring to the left movement in the world
Yes, things would implove if the left, left.
I hear China has more than enough housing for you.
Learning never stops until I die.
I love the length and depth of this conversation
See the Canadian anthropologist, Wade Davis', The Wayfinders, for a further demolition of the narrow pecuniary ideology of incentives. Esteem is a much stronger incentive than money or material rewards. It always has been.
Mr Richard thank you for being a good teacher and always be wild to talk to young people thank you
Enjoyed listening and learning from. This .
Thank you Professor Wolff. Thorstein Veblen offers his thoughts in his book "Theory of the Lesiure Class". What Do you think his theory says about the relationship between Capitalism, Social class structure, and the family unit?
You mean where your children will turn you in for your "thought crimes"
or your neighbors?
@@jgalt308 troll
Thanks!
Thank you for your teaching
great vid. this is progress
1:05:42 Woahhhh! Mind blown!
thank you all
Many years ago I learned about the history of imperialism and its impact on both India and China reading the works of Marxist economist and historian Ernest Mandel. At the time I was reading his writing, he was controversial because he was also known as a Trotskyite, but then I considered that Trotsky would have been a better leader for the Soviet Union than Stalin was.
I recommend his books, if they are still available.
Ernest Mandel was forbidden entry to the US by Richard Nixon from lecturing on campuses in the US
We love you Dr Wolff.
I live you all and I learned alot
Did it put food on the table? Will it?
I live you all?
You mean? - I love you all, and I learnt/learned a lot.
@@stuartwray6175 yes I think I typed fast , are you Mr Critic ?
@@jgalt308 troll
Riveting discussion. Bravo
Great intro.
Thank you please never stop teaching us
Wonderful.
For sure
I've huge respect and admiration for Professor Wolff and have learned much from him. That said, I've just one disagreement here. Professor Wolff asserts that capitalism has no slavery. But doesn't prison labor count as slavery?! We have prisoners risking their lives putting out forest fires for mere pennies per hour. We have prisoners working for large corporations without compensation. How does that not count as slavery?
With that accent
You should not be
Mediator 😍 take it as a gift of your
Life... with thanks
& Respect specially 16 billion ears on🌏.
Wolff Gang gang ganggg in the house!
❤❤❤❤❤
"Capitalism fosters democracy" is perhaps the most toxic -- and widespread -- lie in political economy.
Depends on what you mean by democracy...
In the case of actual capitalism, democracy exists when the consumer spends his money
and is most effective in a free market where the price is determined by the supply of
what has been produced, and the for it demand.
In government, democracy is the tyranny of the majority...which can take what it wants
from anyone.
@@jgalt308 Lol, another "John Galt" repeating neoliberal talking points.
Another intellectually challenged ????????? attempts to use a label as an argument,
proving it doesn't know what those words mean either.
@@jgalt308 Lol, I dare you, challenge me. Na, you won´t, you rather repeat Eliza Rosenbaum´s/"Ayn Rand"´s BS that she wrote after reading Schopenhauer (without understanding even 10% of Schopenhauer)...
It has been challenged...but instead of a label it cannot comprehend...it drops names,
instead of an argument that explains why the simple statements made are not true.
I guess ..."Depends on what you mean by democracy..." is also beyond its comprehension.
and the mindless babbling will probably continue...
Well said Amen
The way civilizations work there will always be leaders and followers.
Is then the best civilization not just one in which the leader shares benefits with the workers?
Should profit be shared equally or on the basis of level of risk/production? How would Marx answer this?
The benevolent leader of a leading civilisation?
As the Marxist has demonstrated, their leadership produces ever diminishing benefits,
which were expropriated from those who can actually produce them, leading to
the starvation of the workers until they rebel and get rid of them.
Please explain the impact of The General Theory to develop the theory of Relativity and The Ahimsa or Non.violence theory of Mahatma Gandhi for social struggle as an effective tool, will influence the future Marxists and future human society of this planet?
✊🏾✌🏾
Work with V J Prashad within this program.
Professor
Please mention that states have much higher min wages
Best show on economy next to Sachs, Michael Hudson, Lena Petrovia
Where is the transcript of this video??
If you click on the "transcript" function, it appears in the "chat window"...
and essentially useless. This is not provided here...and actual "transcripts"
are NOT convenient for Wolff's purpose.
@@jgalt308 troll
My dad told me don't accept a "title" instead of the monetary increase.
❤
For the vast majority of history, those in power always manipulated us into submission. most often with sticks or some invisible carrot.
If you got stuck on an island, would you prefer a pouch of gold or one of potatoes? What is "value"?
Both are commodities and one can be exchanged for the other
depending on circumstance.
It is the circumstance which determines the relative value of any commodity.
You have created a circumstance which determines the relative value.
How about the choice between a sack of potatoes and fishing equipment?
Or the value of the world's best boat builder who demands that pouch of gold?
Isn't real economics fun??????
@@jgalt308 Value, commercial value is fictitious and wealth is addictive.
Potatoes (and fish) are real.
What are you going to do when commercial fishing is not worth it anymore? Or when you can't grow potatoes on your land anymore?
Economics today might be fun for some, but it's also generating destruction.
How much is worth a planet with complex life forms on it?
Economics used to mean good management of the suff in the home. We lost the good management part because wealth is addictive.
(summarized) “Wealth is addictive, the rich will eventually destroy society” - Socrates
@@a.randomjack6661 In what medium is "wealth" measured?
You don't really like to answer questions do you?
@@jgalt308 Why would I like your answers? Economy is NOT a science. It is indefensible.
A meteorologist does not have to worry that the weather may change it's ways because he or she has made a particular prediction.
Whereas in social sciences, whether is sociology, economics, whatever.
The phenomenon really cares about our theories about the phenomenon.
Because, as theories have the capacity to alter our behavior - Yanis Varoufakis
@@a.randomjack6661 They would be your answers...not mine.
BTW the faux Nobel, Bank,of Sweden Prize for economic sciences will be announced on Monday.
So far your posts are non-responsive...so like Wolff avoidance of meaning is a requirement.
And they are simply being examined for consistency. But you refuse to engage.
If you want my analysis of the video...posted 2 hours ago...feel free to scroll down as I am
sure it's at the bottom. Then you can ask questions, or argue, or whatever.
All people being hosted by social media define capatilism with one single word free market but in reality there is nothing absolute free market as government intervene let's say at emergency situations can we call this as instant a socialism or there a fine line between socialism and capatilism with single word if possible
Capitalism will die, but not before the dollar has lost all it's value. Expect higher inflation looking forward. Go for gold and other real assets
Prof ,is there anything good about capitalism and what options do you offer?
He's a Marxist and so am I. Go look up his speeches on it.
He's a Marxist. Go look up his speeches on it.
Wolff is a Marxist. Look up his talks about it.
Why is RUclips erasing my comments about Marxism???
@@vivalaleta because it's owned by Capitalists ? ¯ \_(ツ)_/¯
1:35:50 - 1:43:13
I'm not so sure if I agree with his take on this topic. Can the Marxist analysis truly be applied to the household formation? I can see some parallels between the function of a household and the function of an economy but I'm doubtful that the two can truly be compared. Beyond that
I think the culture of which the household is ingrained gives merit to the validity of feminism. The claims and gripes of feminism only have legitimacy in some cultures, in others they are baseless.
Interesting how these guys complain about socialism (while incorrectly saying it's capitalism or freedom) and propose socialism as the solution
One will have to understand the classes and there are sub ordinate gradiation too what capitalism have developed,lower middle class,higher middle, average middle class and middle class is lot of capitalism
Nope, in Wolff's world there are only two classes, employers and employees...
so the odds are 97 to 3. Now, do better!!!!
What if we had a bar that no one fell below and then, with that, capitalism ?
I think this 'capitalist democracy' will remain in force as long as a sufficiently large and strong middle-class wage-earning population is doing well or at least tolerably well. The wage earners in good employment relationships and in strong positions clearly belong to the middle class with all their lifestyles, and they do, as a rule, want to support the system that supplies them this. People don't care that much about any real democracy. As long as you are doing well or at least better than those who are doing poorly, that is enough for most of as.
Capitalism: a system in which a populace-minority of people get to vote.
Democracy: a system in which a populace-majority or people get to vote.
Capitalist-Democracy: a system which does NOT, can NOT, & will NOT exist.
The entire world is bought, owned, bribed, & controlled by the corrupt, wealthy-class minority & their corrupt RW-politics of enslavement of the working-class majority.
The wealthy-class authoritarians will NEVER willingly give up their lifestyle-addictions.
They will NEVER willingly seek treatment for their mental-illnesses.
They will NEVER stop trying to avoid physical & manual labor.
They will NEVER stop trying to enslave working-class people.
They will NEVER willingly allow Democracy to exist.
They will NEVER allow the working-class majority to vote in any meaningful way.
DON'T be fooled -- 'capitalist democracy' is not a real thing -- and STOP trying to fool others.
25:30 “… to finally take us beyond the capitalist system. Everything here is premise of following idea… the human race can do better than capitalism… It is not the end; it is not the perpetual; it is not the always has been… It is none of those things… and it is desperately trying to hold on to get people to believe all of that… and it isn’t working.”
🧠💯🙌👍👍,
How much support did the French Revolution lend to anticolonial struggle in Africa Asia Caribbean, South America Central America and Pacific Islands ?
Marx believed that the transition from capitalism to socialism or communism could be through a an intermediary state economy. Then the state will finely despair afterward... Isn't it?
True true also imperialism they are slicks
So did they create the democrats as a buffer?
👍👍👍👍
If Marxism was so egalitarian, why did everyone fear expulsion from the party so much? 🤷🏼♂️
Which party?
the US empire following the british empire. there it is. hard to see it another way.
Central Banker REVEALS The True Economic Power of Russia | Prof. Dejan Šoškić
Seriously tho,,
In 2021 Xi gave a speech at the Central Economic Work Conference attacking welfarism and pledging China would not opt for a model that would “uplift a group of lazy people who gain without working,” with explicit derogatory references to South American “populism.” This type of language might as well be coming from a right-wing fundamentalist in the US.
I agree with your sentiment (even if you don't agree with my following sentiments). The Chinese have allowed a wealthy-class to flourish in China; wealthy-class politics are RW-politics; Xi is now a member of the wealthy-class, and, thus (as far as I'm concerned) he IS a RWer.
The next world-war won't be between Capitalism & Socialism, like the wealthy-class wants the working-class to believe. The next world-war will be over the same thing as the previous two world-wars: the wealthy-class authoritarians and their corrupt RW-political-systems of Capitalism, Corporatism, & Fascism.
Say it professor Wolff .. a one world 🌎 government .. say it ....!!!!!
A designed game of Robbery in fancy façade😂
In continuation to what I said that capitalism is not bad if USA has not politically waged wars in other countries through whatever means in other words capitalism can't be assessed in absolute economic perspective but there a political dimension which unstabilize the capatialisim
Richard, do you know what is happening at the end of socialism/communism in the Soviet Union, Warshava block, Yugoslavia? China is more capitalist then USA but with one strong political party, unfortunately educated professor don't understand economy on high scale. I know more about socialism/communism than YUO, and also about nationalism and so-called democracy. Karl Marx never worked a day in his life, but he got a prosperous marriage and Engels a paying sympathizer. My genie is Nikola Tesla, not Karl Marx or Darwin.
It's easy to criticize "capitalism", esp. given the distortions and cronyism and central bank nonsense, and Marxists do a great job at criticizing. But what Marxists fail at is providing an alternative. As a non-Marxist I can both criticize and provide an alternative, ie, a market based system without central bank shenanigans and the corporate cronyism.
What we need is not more of the unbalanced criticism of capitalism, but tell us how Marxism can be a practical alternative. Explain how Marxism will work in everyday life, from the local street vendor, shop keeper, to the big companies. How do profits get distributed? Who takes the risks? How are decisions made? Do prices play a role as a market signal? If not, then what?
I'm surprised to learn that China's model is actually "Marxism." I always thought it was "capitalism", but with Chinese socialized characteristics. Now, if China is what Marxism is, then I don't see a whole lot of difference between so-called capitalism and Marxism, except that Western capitalism is completely corrupted at this stage.
Something else that Marxists often leave out is that Marxism is not just an economic model, but philosophical IDEOLOGY. It speaks to not just the realm of economics, but life itself. But what if you don't agree with its philosophical dogma in regards to life and the nature of reality?
Yep. The 3 tacks comment was just scrubbed
Yellow Vest comments get scrubbed from this channel.
2 so far on this thread
bunch of careerists!
Capitalism is the worst economic system, unless you compare it to any of the others that have come before or since.
That old crap? 😂
What has come since. Before you say what the USSR had was Communism let me tell you the most important thing in Communism is worker owned work places.
@@vivalaleta Communism and socialism came after capitalism. They are disastrous as their own systems. They can be used to temper capitalism, but it is still the only way to drive economic progress.
@@SinclairPoppins Then let's improve them.
@@JoseColomer-e9u Ok. I agree.
@@vivalaleta Start a co-op... why not????? Oh, you commies think you can steal other people's property, right????
Martin Shirley Wilson Maria Smith Amy
Here we go again. Another weekly anti-capitalism video by The Nutty Professor. The DOW hit a record high this week and everyone with a 401k is loving the PROFIT they have earned through capitalism including The Nutty Professor. Don't let Wolff fool you. He takes every cent of PROFIT he earns in the market from HIS pension and other retirement accounts. Wolff talks the talk but doesn't walk the walk.
CAPITALISM IS SOCIALISM.
Could you please have a student that can speak a bit better English. It is not possible for me to listen to him although I would very much Licht lo listen to Mr Wolf I have to skip this.
Sorry couldn't suffer through the introduction
What followed was worse..S.O.S.
Why? Care to explain?
Sounds like a "you" problem.
You probably meant; "wasn't capable of comprehending the English-dialect".
🤮
These people don't speak English. They're just convinced that they do.
This is Indianish.
Every bloody word is mispronounced.
While it might work great as lingua franca in India, anywhere else it's just pointless, and painful to listen to.
Let's not do this again...
Why should Indians care about the authentic pronunciation of this bloody language? English is foreign to Indians.
In fact, the Westerners should be grateful that Indians always happily take the trouble of speaking in your language while interacting with you people, which Indians certainly shouldn't.
Sometimes, you speak in hindi and let us have the opportunity to judge your pronunciation.
India is home to more than 100 languages. Some of them stand out as the most beautiful languages in the world. So, Indians don't need English. It's the colonial hangover that some people are yet to get rid of. Also, imperialism of the English language has added to this burden in recent times.
Otherwise, most of the Indians hate English. It's equally painful for us to speak in this bloody language, leaving our own languages. Still, what we say you are able to understand. But I'm certain that if you try to speak in our language, that will sound horrible. Come out of the illusion of superiority.
From now on, think twice before putting forward such an illogical argument.
That is how you should speak English. You Americans mispronounce everything.
I'm a life-long English speaker & I understand them just fine. Your inability in this realm is a "you" problem. And whether your problem was previously-imposed by others or continually-selected by yourself, your comment isn't the flex that you think it is. Congratulations... 🥳
...you're a moron, just like the wealthy-class masters designed you to be with their corrupt RW-politics. 😒
You LITERALLY don't have to watch.
You LITERALLY didn't NEED to comment.
You LITERALLY could have kept you ineptness & ignorance to yourself.
But you, like so many other working-class dupes, have been brainwashed into thinking that your ignorance is a badge-of-honor to be proudly displayed in public.
And the brainwashing, coupled with your ignorance, brought you to think that your comment was worth posting in public.
The corrupt, wealthy-class authoritarians LOVE working-class dupes like you, because your ignorance is how they maintain their authoritarian RW-politics of enslavement over the working-class.
Again, congratulations. 🙄
Instead of pie in the sky ideas. We should discuss proposal that introduce change like campaign finance reform. And stronger regulation of corporations. Or nationalization of certain services
They aren’t pie in the sky and it takes the people to expel the idiots in DC
It would take a revolution by the mass population of any capitalist country to rise up and call for a general strike until those demands are met. In the world today where the entire Collective West has been captured by Neoliberalism with it's side effects of racism, hyper individualism, zero sum gain mentality, and consumerism. Also with the rise of Right Wing Fundamentalism, it would be very difficult to move in that direction.
@@bradleyp3655We have to do it
Or maybe the constitutional republic intended and how it was destroyed along with capitalism.
Your rhetoric in the first sentence makes it seem as though you believe that socialist-ideas are "pie in the sky" ideas. But then you say we should do three things that are much more in line with the ideas of socialists. You've made it seem like your understanding of "pie in the sky" ideas have been misguided by "cranium in the rectum".
Socialists would vote for campaign finance reform, regulation of corporations, AND nationalization of certain services. Those three things may not be the end-goal of socialists, but any reasonable, logical, and competent socialist would vote for those things.
Maybe you didn't do a good job of writing what you meant.
Or maybe I misunderstood.
All I hear from that moderator is "herka derka derka"
🩵🩵🩵 vote blue everyone
I'll be voting to Jill Stein, the only anti genocide candidate
Blue OR Red will implode the market and economy. There's no escape
@@robertfelts8773Netenyahu, who is currently committing genocide, wants Trump for a reason.
@@robertfelts8773 I just can't vote for her. She's a grifter like Trump. She's taken downward the former Green Party, she' destroyed the Green Party. She's a narcist and needs to leave that party. She only shows up during when an election comes around.
We have morals. Can't vote for massacre funders. 💚
For those that want to expand your mind, rather than listen to the same mantra without question, research various schools of thought....
ruclips.net/video/17krz_X883I/видео.htmlsi=MzHAW4pPUY4rUEma