I love the idea of a society full of worker cooperatives. I think this version of Socialism is much more natural, and certainly palatable to skeptics / people who have been indoctrinated to be afraid of the word. With that being said, I am wondering why it hasn't taken over the economy naturally. If it is superior (which I think it is), why haven't we had worker cooperatives out compete traditional Capitalistic enterprises? Is it just a matter of time, just like it took time for Capitalism to overcome Feudalism, or is there some fundamental issue with worker cooperatives that prevent them from becoming massive (say the equivalent of Walmart). I'm just worried there's something we're missing here - that there's some reason worker cooperatives haven't naturally taken over economies. Even if there is something we're missing, I'm not being critical - I want to know so we can fix it. Right now, here are the reasons I came up with: 1.) I think the issue of ambition / leadership could be a problem preventing worker cooperatives from being massive. I think there is a benefit to having a skilled/knowledgeable CEO. They are able to dedicate their time to thinking about strategy and problem solving, and are generally good at both. Of course, they are massively over compensated for this, but the role might be necessary even in a worker cooperative. 2.) Lack of capital. Now, this is an issue that seems partially caused by how unequal our society is at the moment - with large amounts of wealth being in the hands of the few, which means these people get to decide where that money goes. Starting a business takes cash, and right now it's hard to get that as a worker coop. However, there is a second part to this problem that isn't as obvious... 3.) Reinvestment. Many successful companies take their profit from day 1 to years 3-5 and put it back into the company. Also, some businesses aren't profitable for a few years when they first start, and I wonder how worker cooperatives would handle this. I am worried that in a worker cooperative, they would not be able to reinvest in their company like a traditional capitalist, which makes them less competitive and grow slower. This may be due to simply not having the money, or the worker-owners wanting to take home the profits themselves. So those are the major issues I see as potential explanations as to why worker cooperatives haven't taken over economies (yet). Of course I'd love to see worker cooperatives take over, so I am wondering what you and other people think about these problems, if they are real problems, and if they are the reason worker cooperatives haven't been dominant. If there are other reasons you can think of, I'd love to know those as well. I could see getting started as a potential issue (it's easier to just bankroll yourself, than find 3+ people that share your vision and risk).
Power never gives up power on its own; the legitimacy of another way is not relevant (of course I agree coops are legit) but those in power of the current system do not allow a new way to take over naturally. That assumption forgets the massive campaign by those in power to hold on to power. No economic system or even market is "natural" they are created by people and they have rules (currently those rules of course favor the rich and the State) Capitalism certainly or even coops do not occur naturally they must be created with intention and effort.
_"We are Socialists, enemies, mortal enemies of the present capitalist economic system with its exploitation of the economically weak, with its injustice in wages, with its immoral evaluation of individuals according to wealth and money instead of responsibility and achievement, and we are determined under all circumstances to abolish this system!"_ - Gregor Strasser, 1926, Nazi Party member
Maximilian I always thought Germans put sauerkraut on their hotdogs when they're watching and enjoying Dr. Woolfe....or maybe you Germans have taken to calling it "Liberty Cabbage" now.
Honestly, Prof. Wolff outshines all socialist speakers so thoroughly that when discussing the subject online, he's the first one I send to them. Concise and to the point. This is what we need to convince people.
Democracy Now accepts the donations from the Super Rich of the world. Even so they have on average better content than any of the media news casts. No More War.
Hi Ronny; Amy is a great reporter, that is not the issue. The issue is who funds PBS. The billionaire money is everywhere in our media. Propaganda not news. War not peace. Corruption and death, not life. Nuclear bombs, psychopaths and maniacs. We need disband our military before it is used against the american people like it is used in every other nation we touch. American war machine is Out of citizen control. Capitalism is actively failing and may end the world as it passes.
Democracy Now is not as free as they once were and are beholden to some corporate pressures; but are a towering colossus compared to all the network propaganda news. All corporation owned news is propaganda and brainwashing. Such as the election fraud and tampering by Russia in the 2016 primary and then the election when Crooked Hillary failed to get enthroned. Now we may extinct the human race with a nuclear war with russia.
You can not over estimate how important these voices are in america it the moment. These voices from the left. Capitalism in america has become a sickness where those at the top are feeding of the majority, as the hole economic system is in danger of crashing down. Keep speaking truth to the people Richard love your work.
Ranter: Voices need meaningful words and , _at this point,_ ("at the moment"; as you put it) using fighting words like "socialism" is like trying to put out a fire with gasoline. I think Dr. Wolff would do better towards cultivating change using: "Sociable-Market-Capitalism" and not Socialist or Socialism .
Although I agree that the "Capitalism" we are living under right now has failed miserably and has created an enormous gulf and disparity between the rich and the poor, I am unsure what we replace it with. I am dubious about the co-op system that professor Woolfe advocates. I think capitalism is a workable economic system as long as it's SEVERELY REGULATED!!! You can't allow companies to grow so large and powerful that they find themselves in a position where they can buy off the politicians who do the legislating. By allowing this to occur is why the world's in the parlous situation it's in right now.
*Young* *People!* - THIS IS YOUR 1960's. You are now living in a *transformational* time in the world. I PROMISE YOU; *YOUR* *TOUCH* *WILL* *CHANGE* *THE* *WORLD!!!* Take 5 minutes out of your week; Inform Yourselves!!! Go to Bernie Sanders' website. Go to FightForTheFuture .org, go to Citizen's Oversight .org, go to Thom Hartmann's website. Go to PatrioticMillionaires .Org. . Look into Dr. Richard Wolff. GET MORE PERSPECTIVE!!! If you do not know what your choices are, then You have NO choices. Inform Yourselves with perspectives. I lived through the the 1960's; right NOW, this is like the 60's on STEROIDS!!! The bad guys ("the *.* 1%") are trying to steal your future; don't let them get away with it. There are Millions and Millions and MILLIONS of US demanding reform and change from the corruption of Wall Street and the Corporate Congress; Bernie Sanders' message is the vanguard of the change that we (You) need. You will understand this if You inform yourselves. Tell your friends, your family, your co-workers... the time is NOW: *GET* *IT* *ON!!!*
skutch Blobaum I don't understand how by me advocating for the stringent regulation of capitalism makes me responsible for the .01%ers amassing the wealth they have now. If a model is followed where a cap is placed on what an individual can earn (before a draconian tax is imposed) and companies are broken up before they become too large and monopolistic, we wouldn't find ourselves in this economic morass. Capitalism will work if it's kept on a smale scale and rigorously controlled. What is needed is a combination of Capitalism and Socialism, but our crooked, venal politicians have allowed a very viable economic system to become a disaster. People need to understand that the reason capitalism is the failure it is right now is because the politicians are not working for the people, they are working for the oligarchs.
Idk if you ever read these comments, but I just want to thank you so much for your hard work and your time, Richard. As a 22 year old student of sociology and economics, I find your lectures and updates to be akin to therapy, haha. Thanks so much, and take care!
You know what? If every American live in a much practically smaller house but still roomy enough to live, most of you guys won't have to pay so much god damned mortgage so you won't go broke.
I love Rick Wolff. He just gets it and is passionate about making sure we all get it. Every week, I feel we are getting closer to the answers of how we bring all this nonsense to a halt. Grow food, get chickens (if you can) Separate yourself from the system as much as possible, share the wealth and spread the word! #Crapitalism is waining, #Socialism is gaining! Keep it up D@W!
Whoooo hooo! Dr Wolffs amazing videos always boost my day. Your video is making my hospital stay be better already! Keep up your brilliant work my darling!
_"We are Socialists, enemies, mortal enemies of the present capitalist economic system with its exploitation of the economically weak, with its injustice in wages, with its immoral evaluation of individuals according to wealth and money instead of responsibility and achievement, and we are determined under all circumstances to abolish this system!"_ - Gregor Strasser, 1926, Nazi Party member _“A lie told often enough becomes the truth.”_ - Vladimir Lenin
dan16000 thanks for your random quotes that don't pertain to anything I said, nor do they create any semblance of an argument for a position you are trying to possibly articulate. "I believe man and fish can peacefully coexist " - George w. Bush See I can post a random quote, it doesnt mean it is relevant to anything, especially when context is not provided. Thanks for stopping by
There are some models of decentralized planning that I wish Professor Wolf would talk about, much of which coexist with a residual market sector. Also wish he would offer a balanced critique of markets, and the effects of boom and bust cycles on cooperatives.
CEO pay increase in proportion to the increase in the debt held by the public? While wages have stayed stagnant? This "capitalism" is not supply and demand but cunning and artifice.
""CEO pay increase in proportion to the increase in the debt held by the public? While wages have stayed stagnant? This "capitalism" is not supply and demand but cunning and artifice."" Capital is savings and or a resource Fiat currency is a FICTION so not Capital thus we do not have capitalism.
Interesting comment about Jefferson. He owned several hundred slaves. His livelihood was dependent on slave labor. He harshly punished many of the slaves that tried to escape from his plantation, either with capital punishment or selling the "troublemaker" further south where they'd probably never have contact with their family again. Or both. Unlike Washington, Jefferson didn't free his slaves at his death. I have trouble reconciling what Wolff says here about Jefferson with this reality of Jefferson's life.
It seems that the most effective way to get rid of capitalism is to allow the corruption to increase until it implodes over the boundaries of the states: which means, since the country is hi-jacked - you will all have to wait it out...
Let's move on to contraception. If socialized medicine was working functionally, the pharmacy wouldn't be able to charge 40 bucks for a pill. That doesn't make sense. There must be at least 40 dollars worth of "frustration" in going to the doctor.
Considering that I have never had a physician prescribe me anything that actually worked to alleviate my pain, I consider the laws still too strict. If someone were to start to have an issue with their medicine, such as addiction, but any issue in general, universal medical care would certainly be more useful than "prohibition", or legal interference.
Slavery still exists in the US. Read the 13th amendment. Capitalism grew due to slavery not in spite of it. This is a simplistic version of slavery which was chattel and acted as a social control mechanism on the white working class.
The battle between Reformers and Abolitionists reflects the fear of major change in society; reformers are afraid of losing the benefits THEY have in achieving benefits for others. This is why societies are basically conservative.
Not entirely sure that the future is waged. I think we are moving to the age of leisure and consumer incomes, equally as dangerous as the previous waged era subject to sudden turns of trade or should we say providers ( goods and services)
Cooperatives have the same drawbacks as any other capitalist business. Economic incentive to cheat society by taking shortcuts "externalizing" anything that can't be accounted for on a balance sheet, and incentivized to compete towards monopoly. When you consider that environmental factors are greatly responsible for our actions, moving toward marketplace socialism seems unlikely to alleviate the burdens on our ecosystem. The incentives and social hierarchy are, along with greater state control, a fair breeding ground for "Power" problems. Perhaps you would investigate the proposed solution of a technical system designed around human behavioral research, like the Resource Based Economic system. It's not designed to "control" behavior, but reinforce our naturally "extensional" traits, and provide a means for society to improve itself without an economic based incentive system, and also without technocrats "in charge" of decisions. We certainly do not lack for technical means to deliver societies needs... but, you can't buy your way out of scarcity with money. Money without scarcity is not money at all.
"Just as Darwin discovered the law of development of organic nature, so Marx discovered the law of development of human history." Frederick Engels. Dr. Wolff, can you please talk about this quote in your future programs. Thanks
this is quite good, and easy to understand which is very important, but if you want more people to know what socialism is, this video should really be separated into two so that people are more likely to share and watch. there's no reason to have 30 minutes of comments on current news and then a 27 minute lesson on what socialism is in the same video! If I want to share the socialism lesson with people, no one will watch in because they're have to trudge through an unrelated half hour of commentary on current affairs first - keep your news and lessons as separate videos always!
As always... thank you. I really wish there was an introduction to Richard Wolff 101 class that was taught in 6th grade....haha. I'll share ;) Thanks D@W
This guy is a perfect example of how socialists dont like poor people, they just hate and envy the rich. Sundar Pichai makes as much as he does because he has literally changed the world as we know it for the better. He has added a radical amount of value to our lives, multitudes more than any single employee at his company.
Why can't the 2nd idea of socialism, democratically worker owned means of production, be gotten through reformist means? Can't we just get money and corruption out of politics and stop these private bail-outs where co-ops would be on a level playing field and naturally be a more sustainable model thus the lasting model?
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: "from bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage." - Alexander Frazier Tytler
there are a few problems with his take on Russia and China. First off there were many many many reasons why they never achieved full socialism or minor communism. By a major reason was the fact that those two countries were backwards economically and socially. In China the Maoist Cultural Revolution was the answer to Western capitalists Industrial revolution. It was how the Chinese went from a backwards peasant nation to a more educated and culturally aware country. In Russia before the October Revolution the literacy rate was are 5% . That means 95% of the people were illiterate. It also was a peasant filled country that needed to modernize itself. America is a full blown advanced economy. It has a highly educated workforce. If you implemented a Socialism that was Government run the success rate of it moving to full socialism and then into communism is much more guaranteed.
21:28 If anybody wants to know why it is the case that only "classical economics" is taught in colleges and universities here in the U.S., then I suggest reading the following: www.smcm.edu/democracy/wp-content/uploads/sites/29/2015/07/how-right-wing-billionaires-infiltrated-higher-education.pdf
"Capitalism is going to end, just like every other system (...) Let's go back to slavery." Well, that sounded wrong D: (At about the 48 minute mark, I'm paraphrasing)
When you have factory's closed down by the thousands in the U.S., Unions can't go over seas to negotiate. When you got (R) governors looking to end collective bargaining like the governor of WI Scott Walker did, who was also caught on tape uttering the words, Divide and conquer", to a billion dollar lobbyists, it's not any guess that unions are and have been under attack. The percentage of existing Unions in the U.S. is at an all time low. Is it socialism that's attacking the rights of workers or is it those advocating pure capitalism? There used to be equal footing between companies and the workers. Powerful corporate entities like ALEC has been writing legislation in their favor all set and ready for our legislatures to sign. Right after wining and dining them.
Need to separate the different ways of thinking about socialist by giving the proper terms. Such as Democratic Socialism or Social Democracy. reformers are Social Democrats. Those that want a Socialist society that is not run by a bureaucratic caste are Democratic Socialists
Socialism is impossible, economic calculation problem. But you would have to have a decent grasp of economics to comprehend that. No excuse for not comprehending incentive and concentration of power problems though.
I hope socialism continues to grow in popularity here in America, so that we can have a chance of ending capitalism before it destroys us.
venezuela
I love the idea of a society full of worker cooperatives. I think this version of Socialism is much more natural, and certainly palatable to skeptics / people who have been indoctrinated to be afraid of the word.
With that being said, I am wondering why it hasn't taken over the economy naturally. If it is superior (which I think it is), why haven't we had worker cooperatives out compete traditional Capitalistic enterprises? Is it just a matter of time, just like it took time for Capitalism to overcome Feudalism, or is there some fundamental issue with worker cooperatives that prevent them from becoming massive (say the equivalent of Walmart).
I'm just worried there's something we're missing here - that there's some reason worker cooperatives haven't naturally taken over economies. Even if there is something we're missing, I'm not being critical - I want to know so we can fix it. Right now, here are the reasons I came up with:
1.) I think the issue of ambition / leadership could be a problem preventing worker cooperatives from being massive. I think there is a benefit to having a skilled/knowledgeable CEO. They are able to dedicate their time to thinking about strategy and problem solving, and are generally good at both. Of course, they are massively over compensated for this, but the role might be necessary even in a worker cooperative.
2.) Lack of capital. Now, this is an issue that seems partially caused by how unequal our society is at the moment - with large amounts of wealth being in the hands of the few, which means these people get to decide where that money goes. Starting a business takes cash, and right now it's hard to get that as a worker coop. However, there is a second part to this problem that isn't as obvious...
3.) Reinvestment. Many successful companies take their profit from day 1 to years 3-5 and put it back into the company. Also, some businesses aren't profitable for a few years when they first start, and I wonder how worker cooperatives would handle this. I am worried that in a worker cooperative, they would not be able to reinvest in their company like a traditional capitalist, which makes them less competitive and grow slower. This may be due to simply not having the money, or the worker-owners wanting to take home the profits themselves.
So those are the major issues I see as potential explanations as to why worker cooperatives haven't taken over economies (yet). Of course I'd love to see worker cooperatives take over, so I am wondering what you and other people think about these problems, if they are real problems, and if they are the reason worker cooperatives haven't been dominant. If there are other reasons you can think of, I'd love to know those as well. I could see getting started as a potential issue (it's easier to just bankroll yourself, than find 3+ people that share your vision and risk).
Excellent questions John Snow, would like to hear Prof Wolff address these myself.
This is insightful. Great questions ! Hope Prof Wolff addresses these as well.
Power never gives up power on its own; the legitimacy of another way is not relevant (of course I agree coops are legit) but those in power of the current system do not allow a new way to take over naturally. That assumption forgets the massive campaign by those in power to hold on to power. No economic system or even market is "natural" they are created by people and they have rules (currently those rules of course favor the rich and the State) Capitalism certainly or even coops do not occur naturally they must be created with intention and effort.
This is exactly the type of comment that fuels me to always read the comments.
Have you got any answers to these questions?
You forgot the century old propaganda machine arrayed against critics of capitalism
Can there be anything better than Economic Update with Professor Wolff and some Hot Dogs :) Greetings from Germany Comrades!
Maximilian I'm very jealous of the leftist movements in Germany, we are growing fast though
_"We are Socialists, enemies, mortal enemies of the present capitalist economic system with its exploitation of the economically weak, with its injustice in wages, with its immoral evaluation of individuals according to wealth and money instead of responsibility and achievement, and we are determined under all circumstances to abolish this system!"_ - Gregor Strasser, 1926, Nazi Party member
Maximilian
I always thought Germans put sauerkraut on their hotdogs when they're watching and enjoying Dr. Woolfe....or maybe you Germans have taken to calling it "Liberty Cabbage" now.
@ dan 16000 ,you cannot find justice through injustice
dan16000 Strasser was murdered by the right wing element of the Nazi party (Hitler etc.) during the night of the long knives
Honestly, Prof. Wolff outshines all socialist speakers so thoroughly that when discussing the subject online, he's the first one I send to them. Concise and to the point. This is what we need to convince people.
This is better than Democracy now
Democracy Now accepts the donations from the Super Rich of the world. Even so they have on average better content than any of the media news casts.
No More War.
Amy does not oppose capitalism.
Hi Ronny; Amy is a great reporter, that is not the issue. The issue is who funds PBS. The billionaire money is everywhere in our media. Propaganda not news. War not peace. Corruption and death, not life. Nuclear bombs, psychopaths and maniacs.
We need disband our military before it is used against the american people like it is used in every other nation we touch. American war machine is Out of citizen control.
Capitalism is actively failing and may end the world as it passes.
I love Democracy now!
Democracy Now is not as free as they once were and are beholden to some corporate pressures; but are a towering colossus compared to all the network propaganda news. All corporation owned news is propaganda and brainwashing. Such as the election fraud and tampering by Russia in the 2016 primary and then the election when Crooked Hillary failed to get enthroned. Now we may extinct the human race with a nuclear war with russia.
Keep it up Richard, can't wait to watch this later.
instablaster.
You can not over estimate how important these voices are in america it the moment. These voices from the left. Capitalism in america has become a sickness where those at the top are feeding of the majority, as the hole economic system is in danger of crashing down. Keep speaking truth to the people Richard love your work.
ranter7100, I couldn't agree more.
Ranter: Voices need meaningful words and , _at this point,_ ("at the moment"; as you put it) using fighting words like "socialism" is like trying to put out a fire with gasoline. I think Dr. Wolff would do better towards cultivating change using: "Sociable-Market-Capitalism" and not Socialist or Socialism .
Although I agree that the "Capitalism" we are living under right now has failed miserably and has created an enormous gulf and disparity between the rich and the poor, I am unsure what we replace it with.
I am dubious about the co-op system that professor Woolfe advocates.
I think capitalism is a workable economic system as long as it's SEVERELY REGULATED!!!
You can't allow companies to grow so large and powerful that they find themselves in a position where they can buy off the politicians who do the legislating.
By allowing this to occur is why the world's in the parlous situation it's in right now.
*Young* *People!* - THIS IS YOUR 1960's. You are now living in a *transformational* time in the world. I PROMISE YOU; *YOUR* *TOUCH* *WILL* *CHANGE* *THE* *WORLD!!!*
Take 5 minutes out of your week; Inform Yourselves!!! Go to Bernie Sanders' website. Go to FightForTheFuture .org, go to Citizen's Oversight .org, go to Thom Hartmann's website. Go to PatrioticMillionaires .Org. . Look into Dr. Richard Wolff. GET MORE PERSPECTIVE!!! If you do not know what your choices are, then You have NO choices. Inform Yourselves with perspectives.
I lived through the the 1960's; right NOW, this is like the 60's on STEROIDS!!! The bad guys ("the *.* 1%") are trying to steal your future; don't let them get away with it. There are Millions and Millions and MILLIONS of US demanding reform and change from the corruption of Wall Street and the Corporate Congress; Bernie Sanders' message is the vanguard of the change that we (You) need. You will understand this if You inform yourselves. Tell your friends, your family, your co-workers... the time is NOW: *GET* *IT* *ON!!!*
skutch Blobaum
I don't understand how by me advocating for the stringent regulation of capitalism makes me responsible for the .01%ers amassing the wealth they have now.
If a model is followed where a cap is placed on what an individual can earn (before a draconian tax is imposed) and companies are broken up before they become too large and monopolistic, we wouldn't find ourselves in this economic morass.
Capitalism will work if it's kept on a smale scale and rigorously controlled.
What is needed is a combination of Capitalism and Socialism, but our crooked, venal politicians have allowed a very viable economic system to become a disaster.
People need to understand that the reason capitalism is the failure it is right now is because the politicians are not working for the people, they are working for the oligarchs.
Wonderfully informative. Thanks Prof. Wolf from the UK!
Idk if you ever read these comments, but I just want to thank you so much for your hard work and your time, Richard. As a 22 year old student of sociology and economics, I find your lectures and updates to be akin to therapy, haha. Thanks so much, and take care!
Its funny the ads they put up. As if anyone who watches these are going to trust hedge fund managers.
josh portie I always get a giggle from them as well... there's another one that is something about saving $5 a week...haha
You know what? If every American live in a much practically smaller house but still roomy enough to live, most of you guys won't have to pay so much god damned mortgage so you won't go broke.
Hu, That's not how capitalism works.
I love Rick Wolff. He just gets it and is passionate about making sure we all get it. Every week, I feel we are getting closer to the answers of how we bring all this nonsense to a halt. Grow food, get chickens (if you can) Separate yourself from the system as much as possible, share the wealth and spread the word! #Crapitalism is waining, #Socialism is gaining! Keep it up D@W!
"The rich can afford to cry poor the loudest."
(Regards to my deceased neighbor Mrs. Black)*
Whoooo hooo! Dr Wolffs amazing videos always boost my day. Your video is making my hospital stay be better already! Keep up your brilliant work my darling!
Mal c.H Get well soon!
Jack Jammen thanks so much dear!
_"We are Socialists, enemies, mortal enemies of the present capitalist economic system with its exploitation of the economically weak, with its injustice in wages, with its immoral evaluation of individuals according to wealth and money instead of responsibility and achievement, and we are determined under all circumstances to abolish this system!"_ - Gregor Strasser, 1926, Nazi Party member
_“A lie told often enough becomes the truth.”_ - Vladimir Lenin
dan16000 thanks for your random quotes that don't pertain to anything I said, nor do they create any semblance of an argument for a position you are trying to possibly articulate.
"I believe man and fish can peacefully coexist " - George w. Bush
See I can post a random quote, it doesnt mean it is relevant to anything, especially when context is not provided. Thanks for stopping by
Speedy recovery Mal c.H !
Wishing you the best!
No More War
But the Class War!
Убить всех буржуев! :-D
Socialism yes that sounds good!
Gets my brain working every time I watch. I love these videos.
There are some models of decentralized planning that I wish Professor Wolf would talk about, much of which coexist with a residual market sector. Also wish he would offer a balanced critique of markets, and the effects of boom and bust cycles on cooperatives.
CEO pay increase in proportion to the increase in the debt held by the public? While wages have stayed stagnant?
This "capitalism" is not supply and demand but cunning and artifice.
""CEO pay increase in proportion to the increase in the debt held by the public? While wages have stayed stagnant?
This "capitalism" is not supply and demand but cunning and artifice."" Capital is savings and or a resource Fiat currency is a FICTION so not Capital thus we do not have capitalism.
twitter.com/Worship_Warship/status/893133294816055296
twitter.com/Worship_Warship/status/893133294816055296
www.crfb.org/papers/mini-bargain-improve-budget#.WYNCS4FQVwI.twitter
Very good program,thanks!
Great job Prof. You encounter this misunderstanding of what Socialism is amongst /pol/yps a lot, this is a good resource to educate them, thx.
Excellent explanation Dr. Wolff.
Lol that food waste commercial was so good I had to facebook it.
"War on drugs" = elimination of competition.
Wow, that last few min was genius, perfect way to explain it to conservatives. I'll have to use that, thanks!
another great presentation
Thank you Mr Wolff.
Thank you for your work! You rock!!
Excellent summary
Interesting comment about Jefferson. He owned several hundred slaves. His livelihood was dependent on slave labor. He harshly punished many of the slaves that tried to escape from his plantation, either with capital punishment or selling the "troublemaker" further south where they'd probably never have contact with their family again. Or both. Unlike Washington, Jefferson didn't free his slaves at his death.
I have trouble reconciling what Wolff says here about Jefferson with this reality of Jefferson's life.
I love the intro music to this show because it sounds like Bad Reputation by Joan Jett.
Thank you!
It seems that the most effective way to get rid of capitalism is to allow the corruption to increase until it implodes over the boundaries of the states: which means, since the country is hi-jacked - you will all have to wait it out...
Zoran Ignjatovic ́ but I also kinda wouldn't want to die, maybe?
You will not die, but transform to a higher specie...
The second half starts at 30:48
Let's move on to contraception. If socialized medicine was working functionally, the pharmacy wouldn't be able to charge 40 bucks for a pill. That doesn't make sense. There must be at least 40 dollars worth of "frustration" in going to the doctor.
"Slavery with a human face", nice touch.... I saw what you did there. :D
Takes your breath away!
This was fantastic with the exception of the opioid scaremongering!
Considering that I have never had a physician prescribe me anything that actually worked to alleviate my pain, I consider the laws still too strict. If someone were to start to have an issue with their medicine, such as addiction, but any issue in general, universal medical care would certainly be more useful than "prohibition", or legal interference.
Slavery still exists in the US. Read the 13th amendment. Capitalism grew due to slavery not in spite of it. This is a simplistic version of slavery which was chattel and acted as a social control mechanism on the white working class.
The battle between Reformers and Abolitionists reflects the fear of major change in society; reformers are afraid of losing the benefits THEY have in achieving benefits for others. This is why societies are basically conservative.
Amazing!
And how do you make the change?
Not entirely sure that the future is waged. I think we are moving to the age of leisure and consumer incomes, equally as dangerous as the previous waged era subject to sudden turns of trade or should we say providers ( goods and services)
Cooperatives have the same drawbacks as any other capitalist business. Economic incentive to cheat society by taking shortcuts "externalizing" anything that can't be accounted for on a balance sheet, and incentivized to compete towards monopoly. When you consider that environmental factors are greatly responsible for our actions, moving toward marketplace socialism seems unlikely to alleviate the burdens on our ecosystem. The incentives and social hierarchy are, along with greater state control, a fair breeding ground for "Power" problems. Perhaps you would investigate the proposed solution of a technical system designed around human behavioral research, like the Resource Based Economic system. It's not designed to "control" behavior, but reinforce our naturally "extensional" traits, and provide a means for society to improve itself without an economic based incentive system, and also without technocrats "in charge" of decisions. We certainly do not lack for technical means to deliver societies needs... but, you can't buy your way out of scarcity with money. Money without scarcity is not money at all.
"Just as Darwin discovered the law of development of organic nature, so Marx discovered the law of development of human history." Frederick Engels. Dr. Wolff, can you please talk about this quote in your future programs. Thanks
this is quite good, and easy to understand which is very important, but if you want more people to know what socialism is, this video should really be separated into two so that people are more likely to share and watch. there's no reason to have 30 minutes of comments on current news and then a 27 minute lesson on what socialism is in the same video!
If I want to share the socialism lesson with people, no one will watch in because they're have to trudge through an unrelated half hour of commentary on current affairs first - keep your news and lessons as separate videos always!
What's with all the clueless commercials starting at 27:00??
thx
As always... thank you.
I really wish there was an introduction to Richard Wolff 101 class that was taught in 6th grade....haha. I'll share ;)
Thanks D@W
This guy is a perfect example of how socialists dont like poor people, they just hate and envy the rich. Sundar Pichai makes as much as he does because he has literally changed the world as we know it for the better. He has added a radical amount of value to our lives, multitudes more than any single employee at his company.
✅
Norman Keena
hmm?
Former Yugoslavia?
he 's a right wing nut
There was a FEMA commercial for survivialism? :o
Love co-OP socialism
Hey American University represent!
Why can't the 2nd idea of socialism, democratically worker owned means of production, be gotten through reformist means? Can't we just get money and corruption out of politics and stop these private bail-outs where co-ops would be on a level playing field and naturally be a more sustainable model thus the lasting model?
Because the capitalists will continue to use violence to maintain power.
The way he pronounces Patreon makes me laugh.
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: "from bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage." - Alexander Frazier Tytler
Found this interesting
there are a few problems with his take on Russia and China. First off there were many many many reasons why they never achieved full socialism or minor communism. By a major reason was the fact that those two countries were backwards economically and socially.
In China the Maoist Cultural Revolution was the answer to Western capitalists Industrial revolution. It was how the Chinese went from a backwards peasant nation to a more educated and culturally aware country.
In Russia before the October Revolution the literacy rate was are 5% . That means 95% of the people were illiterate. It also was a peasant filled country that needed to modernize itself.
America is a full blown advanced economy. It has a highly educated workforce. If you implemented a Socialism that was Government run the success rate of it moving to full socialism and then into communism is much more guaranteed.
Ronny Ron shhhhh speaking of nuances like this will trigger the libertarians/capitalists
When you don't vote some one else makes decisions for you , you may not like, da. I love GoT.
21:28 If anybody wants to know why it is the case that only "classical economics" is taught in colleges and universities here in the U.S., then I suggest reading the following:
www.smcm.edu/democracy/wp-content/uploads/sites/29/2015/07/how-right-wing-billionaires-infiltrated-higher-education.pdf
"In caitalism, there are no masters and no slaves". Haha, good one, Professor!
I wish you would address the downsides of marxism.
You could ask 99% of economists that aren't Marxian focused lol.
Conflating social democracy with socialism. Boo, Dr. Wolff, you know better.
Gaius Gracchus isn't social democracy just a system in which to achieve your socialist ideal? through democratic processes
"Capitalism is going to end, just like every other system (...) Let's go back to slavery."
Well, that sounded wrong D:
(At about the 48 minute mark, I'm paraphrasing)
When you have factory's closed down by the thousands in the U.S., Unions can't go over seas to negotiate. When you got (R) governors looking to end collective bargaining like the governor of WI Scott Walker did, who was also caught on tape uttering the words, Divide and conquer", to a billion dollar lobbyists, it's not any guess that unions are and have been under attack. The percentage of existing Unions in the U.S. is at an all time low.
Is it socialism that's attacking the rights of workers or is it those advocating pure capitalism? There used to be equal footing between companies and the workers. Powerful corporate entities like ALEC has been writing legislation in their favor all set and ready for our legislatures to sign. Right after wining and dining them.
any chance to get you and Ben Shapiro in the same room?
Goran Damchevski they would never agree on anything.
Need to separate the different ways of thinking about socialist by giving the proper terms. Such as Democratic Socialism or Social Democracy. reformers are Social Democrats. Those that want a Socialist society that is not run by a bureaucratic caste are Democratic Socialists
Can you imagine the Democratic party joining with consumers on drug pricing? I can't!
The aristocrats STILL rule the world.
The drug regulators are hired and worked for the drug companies, who would you put in charge to police them?
Another cold?
Feel better Professor!
he seems to be slurring a lot, that's quite worrying, hope he's doing ok
seems fine to me !
Embrace the baldness! Like me!!!
Socialism is impossible, economic calculation problem. But you would have to have a decent grasp of economics to comprehend that. No excuse for not comprehending incentive and concentration of power problems though.