Global Capitalism: The Changing World Economy [May 2023]
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- Опубликовано: 28 сен 2024
- Global Capitalism
Richard D. Wolff
Wednesday, May 31, 2023 at 7:30 PM
Because of Covid affecting Richard Wolff as well as some internal reorganization at Democracy at Work (d@w), we had to postpone the original May 10 date for this presentation of Global Capitalism. It will now premiere instead on May 31, 2023 on Democracy at Work’s RUclips channel at 7:30pm.
Premiere: d@w RUclips channel on Wednesday, May 31, 2023 @ 7:30 PM EST.
This lecture will also be available on the Democracy at Work RUclips channel; look for the most recent video on the "Global Capitalism" Playlist. It will also be published on our website: www.democracyatwork.info.
The Changing World Economy
- BRICS outgrow the G7
- Global de-dollarization speeds up
- China’s Economic Strategy
- US: people vs leaders on changing world economy
Co-sponsored by Democracy at Work and Left Forum
Special messages to our audience:
Please help sponsor Global Capitalism by becoming a monthly donor to Democracy at Work. Go to our website to learn more (www.democracyatwork.info/donate).
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Our four Democracy at Work books, three by Richard Wolff (Understanding Marxism, Understanding Socialism, and The Sickness is the System: When Capitalism Cannot Save Us from Pandemics or Itself) and our latest by Robert Hennelly (Stuck Nation: Can the United States change course on our history of choosing profits over people?) are for sale on Lulu.com. Find direct purchase links on our website ( www.democracyatwork.info/books ), or find them directly on Lulu ( www.lulu.com/spotlight/democracyatwork )
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I'm glad you're feeling better Professor Wolff. No apologies are necessary.
Glad to hear that Professor Wolff is better. Still don't know if COVID would hit someone harder if they've never had COVID (like Professor Wolff) or if someone who gets COVID more than once get it worse (There have been cases in both directions; so I don't know which is more likely.)
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation.
It has never been easier to understand how to build your money than it is right now, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investtments, in my opinion, are complex.
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@@Oly_laura please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
@@lipglosskitten2610 My advisor is ‘’Catherine Morrison Evans’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Prof. Wolff is a national/international treasure. I wish him well and hope he takes good care and allows himself enough rest. We will be here waiting on his return.
PROTECT RICHARD WOLFF AT ALL COSTS!!!!!!!!
Why?
The best free education on global economy I could ever receive. Thank you Mr. Wolff! Glad you’re doing well after contracting Covid!
FDR initiated a lot of free* stuff...but free* isn't FREE!
Too bad it took 90 years to reveal itself and you still haven't figured it out!
@@jgalt308 I often wonder why we have to read too much into everything. I know nothing is free in life on this earth, but thanks for the reminder.
@@clairjunior5291 Oh, reading too much has never been a problem for most,
and is even less of a problem now. None of the words seem to mean much
of anything, and facts are irrelevant.
Of course you didn't mean that so we'll just jump right into the facts
conveniently absent from the Wolff narrative...
The wonderful world of "fiat" currencies...just imagine what a basket of them can accomplish?
Trading pieces of paper for actual production...such a deal and it continues.
The effects on the U.S. were as follows:
Since the dollar became de facto fiat in 1934,
and de jure fiat in 1971...we can use the price of gold ( real money )
at $35/oz troy to calculate real net worth in today's fiat dollar.
In 1939 and 1971, 1 million dollars would have purchased 28, 571 oz of gold,
where today it would purchase about 500 oz.
At today's prices, 500 oz of gold equals $997,000...whereas 28, 571 oz of
gold would equal $56, 970, 574.
This gives you an inflation rate of 5600%. in terms of the purchasing power of
the fiat dollar...vs the price of gold ( real money ).
Historically for the U.S, the country was debt-free in 1836, experienced a 95%
inflation rate between 1860 and 1865, a deflationary cycle until 1897, where the 1897
dollar equaled that of the 1860 dollar, and U.S. production equaled that of
Great Britain in 1880. Another inflationary cycle commenced with the Spanish American
War and WWI, ending in 1626 at 113% in 1926, at which point the U.S controlled 80+%
of the world's gold and became the world's dominant economy.
A deflationary cycle followed, lasting until 1939, with fiat introduced in 1934, and
the world's greatest con game foisted on the world in 1944 via Bretton Woods,
establishing the LIE of the fiat dollar being as "good as gold"...which held up until
April of 1971...at which point the dollar had been inflated by 250%, so with the
official price of $35, actual redemption would have required redeeming gold
at 1934 rates, which would include the 67% inflation rate of the 1939 dollar,
plus the 250% inflation rate, added to it.
Anyone attempting to analyze "economics" while neglecting these facts,
and many others is simply engaged in rhetorical B.S. and ignores the fact that
these actions by the U.S. government were unconstitutional and criminal, a
condition which continues to this day.
Even Michael Hudson avoids this truth while accurately detailing the history and states
clearly that the U.S. currency is DEBT, not "money"...
@@jgalt308 Such a sad little boy, nobody reads the stuff you’re pushing J.
@@Glumclam Spoken like the typical willfully ignorant, functionally illiterate.
Fantastic video Everybody wants to be financially independent and live a better life.With savvy investing, an inexpensive lifestyle, and diligent budgeting, this is not difficult to do. I'm glad I realized early on that achieving financial freedom requires hard work.
Investment is a fabulous way to save money for the future as well as a way to generate passive income. Those who make poor mistakes early in life regret them later in life. But, if done alone, investing may be challenging and risky.
For this reason, I suggest consulting experts for advice (financial advisors).
The difficulty lies in effectively employing it, not just watching videos and reading investing books.
Sincerely, I'm genuinely moved by what you said. I have a sizable amount of money that I am willing to invest if given the appropriate knowledge and I am highly interested in investing. My greatest concern is losing money on a bad investment. I'm open to hearing your advice on how to make sensible investments as a result.
Please let me know how to contact your financial planner.
Sure,my advisor is Olivia Maria Lucas. In terms of portfolio diversity, she's a genius. You can look her name up on the internet and verify her yourself. she has years of financial market experience plus she is also FINRA & SEC verifiable.
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I miss your weekly 30 minute Economic Updates. I always looked forward to them.
Thank you Professor Wolff!!! You have the courage, the will, the astonishing knowledge and insight on geopolitical economic systems all Americans need to understand!
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong
Wow I'm just shock you mentioned and recommended Expert Mrs Janet,I thought I'm the only trading with her
YOU DON'T NEED TO BE SHOCK BECAUSE I'M ALSO A HUGE BENEFICIARY OF expert MRS JANET
Here in Texas Expert Mrs Janet carries out the both orientation and mentorship
potentials
I stumbled upon one of her clients testimonies and decided to try her out...I'm Expecting my third cashout in 2days
Wishing you healthy days ahead, Professor Richard Wolff!!!!
As àlways, your critical analysis on the world's economics, historical insights of yesterday gradually moving through the years and wars into what is happening today is without a doubt rewarded by your wisdom and knowledge.
Thank you again for your books and years of helping others along to be able to grow more with minds open what lies ahead now and in our future generations.
Many changes and challenges lay ahead. The awakening of intelligence is now in this present moment.
Thank you as always for your analysis and insight, it's much needed in today's world.
Very highly professional account of this subject of economics and its effects worldwide.
I was getting worried when I did not see new content from RUclips. Glad you are ok. You are so good at what you do.
Prof Wolff objectively talks about most of the things that our subjective corporate media don't wan everyone to be aware of. That should be the first clue. The second thing to realize is that has efforts have little commercial incentive to do so. His motivations, I am convinced, are purely humanistically generated. Truth is his lodestone. Humanism is his motivation. Total respect!
He's not objective at all he's a communist.
Great to see you back Wolff🫡
I am 52 years old and you, kind sir, are the only one who has actually helped me understand economics, politics, social issues and history AND how it relates to the world we are seeing today...I am not sure how you do it but thank you so very much!
Thank you 🌎✊🗽🌹 I am so happy you are back on your feet brother Wolff.
BRICS+ is a serious group and the West is silly to doubt them. I had a delusional dream that the G7 and BRICS+ would have a sit down and come to friendly agreements on multipolarity.... then I woke up, must've eaten too much Fruit Loops before bed.😂
Does this make you feel like moving to one of their countries? Since they're the clear future?
G7 soon will be called M7(Misreable 7), Also they were never want peace in world.
Which Countries created wars in the last 20 years. Russia special operation in Ukraine even cause by these criminal Western Government.
Excellent 👍 thank you
Glad you've recovered and even better to have you back. Thanks Professor! ❤️
I am so glad you recovered from COVID-19 I wish you good health strength and stay young to the end of time you are a great teacher 🇯🇲
Great to be watching your show, it is an important show. I am glad you have recovered.
Just graduated from Virginia Tech and you are the best professor I never had. Hope you are feeling better dawg, the concept of a global economy of egalitarian democratically run worker cooperatives is pretty cool I guess🤪🤗
Yeah, the idea of the "democratic co-op" where the "workers" decide what to produce,
how to produce, and when to produce has got to be the most nonsensical understanding
of economics ever advanced in the entire history of the species.
Prof Wolf is absolutely correct, just look at the high speed rail system in China, it is not something that can be achieved by private entities
Thanks, the talk was great.
Thank you for the presentation and hope that you are well and healthy
One of the true bleesing of the internet is that it really has made aveilable for many people the knowledge of outstanding men and women like you professor. Thanks a lot. Greetings from Mexico.
Very enlightening, so glad to be learning from you. Your recovery from covid makes me happy. Wishing you great health for a long time
So happy that Prof. Wolff is in good health now. Hopefully another bright 20 years.
Your best yet! Thank you.
What a speculator informative Lecture, I was very pleased with your presentation of the current facts and events demonstrate the causation of the change that you was making all of us aware of! Your Geopolitical Economic analysis, should make everyone stop and think; you have done an excellent job in my opinion presenting aggregate in conjunction disaggregate information to explain your position on how the world has changed and what expectations we as Americans can look forward to in the near future. Naturally those who are currently in control will be in Denial; however, the Truth will manifest itself, it does not need the support of the Dominate group, Truth can stand alone by its self! Those who have Colonized most of the world are now witnessing the backlash of their Foreign Policy and how it has forced others to counter Western Imperialism.
It is very important to explain complex economic subjects in a way that everybody can understand. And no one does a better job dan prof. Richard Wolff. Respect !
Thanks, Dr. Wolff. Welcome back, Professor. We appreciate your insights into all the topics you tackle, 🗣Powerful 💯✅
What a fantastic program, thank you so much.
I was kinda worried about you when I didn't get my regularly scheduled Dr. Wolff. Good to hear you're doing well.
I'm so glad you recovered safely, Dr. Wolff. Thanks for the video.
Always good to listen to you Sir. Alot is learnt. Thank youm
Thank you 🙏 you doing great job not just for us but for future generations. We are really appreciate it.
I was wondering why no presentation. I am glad you are now well
Glad you are back.
I will use your videos in my English language classes. You speak so clearly and your content is super.
Thank you, Prof. Wolff.
Brilliant, crystal clear presentation Mr Wolff...
No worries Mr. WOLFF. GLAD YOU ARE BACK. Web always wait for you.
You are a pleasure to listen to. Thank you
Powerful. clear, objective. Things that we in the US need to hear for ourselves and our children and grandchildren who will be the ones facing the future.
We are all on a cruise ship called Earth, hurtling through space and time at breakneck speed.
We do not know where we are going, or why we are here, but we are all in this together.
Some are born into luxury, while others are born into poverty.
Some are happy, and some are sad.
But we all share one thing in common:
We are all on this journey through time.
Our visit here will not last forever.
So let us make the most of it.
Let us enjoy the ride.
Let us learn from each other.
Let us grow together.
And let us make the most of our time on this cruise ship called Earth.
Let there be Love and Peace for every one of us.
AMEN.
Free lectures informative and free - thank you - Capitalism Hits the Fan....
Glad to see you and your video after some gap. Thank you for the excellent program, I watched the video till the end without break. It is so educating.
Epic! A masterpiece!!!
Thanks professor Wolf. I'm so glad to live in this time when the big lie is falling
I learn a lot from you Sir from🇿🇦
Excellent summary! Thank you! The lack of awareness and interest to understand by the majority will ultimately become our demise!
Outstanding analysis Mr.Wolff. Thanks once again for putting together another insightful presentation
Thank you are your knowledge, wisdom, and sharing of the state of the world economy.
👏👏👏 excellent content 👍❤👍
Thank you, professor Wolff for your detailed and comprehensive analyses of the current global economy. It's invaluable to hear the voices of the best intellectuals in the world of ideological division.
He's right that revolutions usually occur unexpectedly, explosively. That's the only hope we've got. Keep well, Prof.
When it happens it won’t be a surprise at all. It has been on the starting line since 2015.
@@GrandmaCathy eh, more like 2008 honestly.
Thank you Prof for deep knowledge you pass on to us freely
You must have a very unique definition of what constitutes "knowledge"?
Extremely good presentation, Mr Richard Wolf.
Thanks for sharing this lectures proff!
Good to see you. Positive vibes from Poland
Brilliant. Thanks so much. Fascinating presenration
Excellent breakdown. Clear and easy to understand. Thank you!
Thank you for the schooling
I like the "Gilet Jaune" behind :). A good reminder of what we should stand for.
Great teacher and great instruction.
Feel better Professor Wolff!!
We missed you Professor Wolff
So glad you are doing well. Such a strong constitution!!
Professor, thank you for educatinga and updating us.
Love your presentation professor. Thank you for your insights.
Glad to see you are well and thank you for your work!
Tks., much appreciated.
I’m glad you’re feeling better Dr. Wolff.
Thank you and iwill give you hope
So grateful you are back in good form Prof Wolff! Your voice was missed!
I used to go to your talks at the Brecht Forum! So hyped Prof Wolff has become so well known
Professor Wolff, Im glad you appear to be feeling better. You are a blessing to our world and I appreciate 🙏 all that you do. I hope you also are able to spend ample time with those you love and are building amazing memories and experiences ❤️
Prof. Wolff, how are you? Did you contract COVID during your extensive speaking engagements? I've been wondering about you and missing Economic Update and hoping all is well for you. I was glad to see a Katie Halper video interview with you recently in which you explained what the debt ceiling issue is about. You spoke with your typical clarity, which was enlightening. I hope this means you are well. If you contracted COVID, your experiences and insights would be intructive for many of us. Perhaps you will create a COVID video. I believe many others join me now in wishing you well, Prof. Wolff.
Its a very good presentation on global economy.
Can't nobody hold a candle to Richard Wolff. I want a Richard Wolff shirt ASAP! Lol
True, most of us use light bulbs now, but hey maybe candles will make a comeback?
Quick, start a worker co-op!!!!!
@@jgalt308 You resort to a silly joke about my expression because it really infuriates you to see people thinking outside the box. If you were a wealthy person you wouldn't be in Richard Wolff's comment section trying to poke fun at people. You are broke, ignorant and proud to be defending the system that has kept you and your ancestors in poverty and ignorance for generations. I hope you get better my brother 🙏
Excellent analytical deliberation
Thank you .
I'm so glad you're ok! We need you!
Thank you so much for this in depth easy to understand analysis prof Wolff! Glad you’re in good health again your info is beyond valuable
Excellint insight Richard, appreciated.
Thank you Professor Wollf!
So relieved that you have come out of Covid without problems, dear Professor Wolff, thank you so much for your expertise, we respect and appreciate it. All our very best wishes for a total and prompt recovery.
Excellent lecture
Thanks Mr.Wolf ........indeed a better explanation
❤ no worries and im glad i found you.
Thank you Dr. Wolff. Very insightful analysis and as usual, a clear and concise presentation. I wish more people watched your show.
Hi Professor Wolff, Iam glad to see that you have recovered
Great lecture. Happy that you got through Covid in one piece.
Yeah, the vaccinations and boosters and hiding from covid really did the trick didn't they?
Wow! Great program!!
It's been one month since Democracy at Work published a video. Here's wishing Professor Wolff, Dr. Fraad, and the rest of the staff the best and hoping for a new video soon.
An excellent evaluation, as usual, of what’s going on in the world!!!
Great job Dr. Wolff. This most important event is being totally ignored by Mainstream Media.
so glad you made it, we really need your voice to educate us.