Economic Update: Capitalism's Costly Contradictions
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- Опубликовано: 28 сен 2024
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[EU S13 E24] Capitalism's Costly Contradictions
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Updates on real US unemployment problem; Congress betrays students on student debt issue; huge majorities polled support US teachers, increased teachers pay, teachers' freedoms to teach about race, and teachers' power vs boards of education and state governors, importance of ILWU strike shutting down west coast seaports. Major discussions of capitalism's contradictions around (1) capitalists forever "saving on labor costs,"and (2) capitalists celebrating self-correcting markets."
Economic Update with Richard D. Wolff is a @democracyatwrk production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so. You can support our work by joining our Patreon community:
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Check out the Hardcover edition of “Understanding Marxism,” by Professor Richard Wolff at: www.lulu.com/
“Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.”
I have missed this show so much the past few weeks. I hope things are back on track, and more importantly, that all is well with Professor Wolff and Dr. Fraad.
Me too 🌻✨ may they enjoy health and luck.
Amen is family well because I would hire your wife for psychological counseling that Contra Costa
County Health Services is required to provide for trauma and sibling abuse until he died in 2016. Liabilities for VAERS’s because incorrect false medical record by EPIC ! Major harm from the pandemic vaccine that my medical record has birth Alergy along with chemicals do not inject or write any pharmaceutical until my allergist verified wouldn’t harm my mast cells.
@@EvolutionWendy *Good* luck, to be sure.
@@EvolutionWendy
🙏♥️🕊
So glad that you're back Professor Rick!!
He doesn't understand what a contradiction is.
Glad to have you back, Professor. No one can break down the bullshit like you.
…and no one can create bull$#it like professor Wolff. I guess the two go hand in hand.
Thanks for sharing 😁
I notice that everybody is wise enough not to feed the trolls
Trolls and bots are put there to waste our time and energy and divert our attention
@@benangel3268
Cheers 😄
@@benangel3268it's not trolling you just want an echo chamber where no one speaks other than what you Communists want to talk about.
My wife and I are both teachers of 30 years. We are pay check to pay check basically. They keep adding days to the year without compensatory money in the salary.
Do you teach in the public school system?
@@bluewater454 The private system pays even less with fewer Rights and Benefits.
@@chetdudeweb707 That is true.
Isn’t it funny that the private schools often do a better job with less money and fewer resources?
@@bluewater454
A) Private Schools do NOT do "a better job" than Public Schools.
B) I guess YOU can think that exploiting teachers as "using fewer resources" is a good thing, I don't.
@@chetdudeweb707
According to the National Center for Education Statistics “In school year 2019-20, the U.S. average adjusted cohort graduation rate (ACGR) for public high school students was 87 percent”.
Nationwide, 4-year high school graduation rates for private schools are at about 97% according to GitHub.
Here are a few more comparative statistics:
62% of private school teachers have a master’s degree, whereas 38% of public school teachers do.
91% of private high school graduates attend college, compared to 72% of public high school graduates.
The national average SAT score for private school students is 1225, while for public school students it is 1049.
Private schools have a smaller student-to-teacher ratio with 12.5 students compared to public schools with 16.1 students.
87% of private high schools offer Advanced Placement (AP) courses, while only 71% of public high schools do.
…And lastly, just to address your concerns about the teachers in private schools:
95% of private school teachers reported being satisfied with their job, compared to 89% of public school teachers.
So yes, private school often do better than their public school counterparts - with less money and resources.
Always respect the Longshoreman's Union. They've been the most militant, explicitly left-wing (often even Marxist) union in the US, and they represent the working class as well as any group of workers in our society. And the global Longshoremen's Union have engaged in serious labor actions on behalf of and in solidarity with the global working class, from refusing to load onto ships containers of weapons that would be used against Palestinians (and before that refusing to help ship anything bound for apartheid South Africa), to helping migrants from the Middle East escaping violence on makeshift rafts floating in the Mediterranean Sea, and on and on. Solidarity with the longshoremen from a member of the United Steelworkers (myself) and all of us in the working class.
Not really...they just do what is right? Remember that or were you even alive when that used to happen occasionally?
The longshoremen's occupation puts them in a position where they can see more about what goes on around the world, more than most people and any other workers. Ports are the windows and doors to the rest of the world and sometimes secrets go in and out and people working there sometimes notice. Of course governments tend to hate dock workers.
The Professor didn't get a chance to say goodby! But I'm glad he's back and have enjoyed his guest spots while EU was on hiatus. Or whatever it was!
But he did say he'd be back...and he said why...but then none of the members of his
audience have the memory of it or the intelligence to figure out why
there was and would be an interruption in programming.
Must be why they keep coming back...they can't remember from week to
week what was said...so they never spot the contradictory B.S.
Hell, they can't even spot the contradictions in this video.
Welcome back !!!!!!
If we don't get this type of education & knowledge into our school system and into the mindset of all those who vote, there is no chance that we will escape the evil that is capitalism.
Please keep up this most valuable and essential work, Mr. Wolff...
The education system is littered with the "victims of oppression"...
we don't need any more of them.
I miss getting these every Monday morning on my feed on here. So good to finally see another episode. You do great work Prof Wolff!
He has never done any 'real" work and he never will.
@@jgalt308 You sound angry, why??
@@Ikkeligeglad Must be because of those "10 deadly sins"...your imagination
has created.
@@jgalt308 I didn't create them
Already covered this elsewhere...no response has been offered.
The trouble with capitalism is that it gets Billions of people working hard FOR money but doing nothing we actually NEED.
So what do "we" actually need?
Definitions from Oxford Languages
need
verb
1. require (something) because it is essential or very important.
2. expressing necessity or obligation.
noun
1. circumstances in which something is necessary, or that require some course of action; necessity.
2. a thing that is wanted or required.
@@jgalt308 "what do "we" actually need?"
Clean air and water, nourishing food, decent housing, meaningful work to perform, community and additional perks like useful education (as opposed to MBA and Finance) and Universal, Effective, Accessible Health Care as a Human Right are nice.
Beyond that, it doesn't require much more to enjoy a very high Quality of Life...
@@chetdudeweb707 Even with the definitions, you don't seem to have
grasped the meaning of the word(s).
Our species has been around 195,000 yrs at a minimum...
and for most of it, no one knew those things were "needed".
We're still here.
There are more people now than ever, and more are on the way...
so they must be getting what they NEED, no?
But just curious, as far as "human rights" go...what is their source,
how do you expect them to be provided for?
And of those "needed things" which ones are you providing?
How about our Professor?
I also noticed you made several other comments, that serve no useful
purpose, so don't expect a response.
@@jgalt308 Our species made it by pretty much being "Socialist" for the first 187,000 of (your) estimated 195,000 years. The experiment with institutionalized selfishness and greed has only been tried for the last 8000 or so. Before that they Shared to make sure that the Community survived and thrived. And of course, the 200 years experiment with capitalism is bringing us closer and faster to species extinction.
Congratulations...
The purpose of my other posts was to educate others, from your posts, I didn't expect to succeed in your case.
@@chetdudeweb707 Well seems that D @ W wants to protect your
false claims...by deleting responses to them.
Thankfully You’re a Voice that brings the Numbers… and the clarity
Did he bring the numbers...or just a click bait headline?
New poll: Majority of adults don’t trust educators to handle sensitive topics
Kevin Mahnken | September 6, 2022
New polling on the American education system shows widespread approval of local schools - along with ominous signs of dissatisfaction among both parents and the public at large.
In a report published today by PDK International, a professional organization for teachers, over 1,000 adults expressed higher levels of faith in their community’s public schools than have ever been recorded in the survey’s 48-year history, with 54% giving them an A or B. That figure represents an 11-point increase from 2018 and a robust show of support given the extraordinary challenges of post-COVID learning recovery.
But respondents also showed only modest trust in educators to deliver capable instruction on potentially controversial subjects like race, gender and sexuality. In keeping with other recent public opinion data, that result was split across partisan and ideological lines, with Democrats showing greater trust than Republicans. And the percentage of respondents saying they would want their own children to become teachers fell to just 37%, a record low.
Teresa Preston, PDK’s director of publications, said the perceived desirability of the teaching profession had been declining in recent years and that its current low might reflect public recognition of the hardships inflicted by COVID.
Observed Preston, “2018 was the first year when we had a majority of respondents say that they would not want their child to become a teacher, and now it’s an even higher percentage. It suggests continued awareness of how tough teaching is, especially during the pandemic, and all the pressures that teachers have been under.”
Poor compensation was the most commonly listed reason for the negative reaction (cited by 29% of respondents), followed by workplace demands and stress (26%) and lack of respect (23%). Across 13 previous polls that included a version of that question, an average of 60% of respondents favored the idea of their children working in classrooms.
Perhaps more concerning was the low confidence in educators to teach sensitive subjects. Although fully 72% of public school parents said they had faith in their community’s teachers, compared with 63% of the full adult sample, far fewer members of the general public trusted teachers to “appropriately” handle politically contentious issues.
Only in the case of U.S. history and civics did bare majorities believe teachers could do this (56% and 50%, respectively); in five other areas - social-emotional growth (48%), racial and ethnic diversity (46%), media literacy (46%), gender and sexuality (38%), and how the history of racism affects America today (44%) - fewer than half of respondents said the same. Among parents, who generally thought more highly of teachers’ capacity to navigate dicey subjects, just 44% said teachers would handle gender and sexuality appropriately.
Those figures dovetail with findings from other recent surveys. An Ipsos poll from October showed a six-point dip in trust for teachers between 2019 and 2021. More recently, a survey released this week by the University of Southern California’s Rossier School of Education found a majority of state residents wanted parents to be able to opt students out of content that they found objectionable.
Notably, stark divisions existed in which demographic groups trusted teachers in their community most (though margins of error were higher for these subgroups, given their smaller sample sizes). Black respondents in particular said they trusted teachers less than their white counterparts with respect to every controversial subject. Just one-third said they believed teachers would handle gender, sexuality or racial diversity appropriately.
A partisan disparity prevailed as well. While Democrats said they trusted local teachers by a nearly 50-point margin (73%, versus 27% who said they did not), the spread among Republicans was less than half that (60%/40%). Just 58% of independents said they had confidence in local teachers, compared with 42% who didn’t.
Preston noted that respondents did not list reasons for their assessment of teachers - it is possible, for instance, that African-Americans want much more intensive instruction in racial diversity than is currently offered, she said.
“I think it does speak to the fact that Americans have a lot of questions about what’s going on in their local schools and schools across the nation,” said Preston.
That view was shared by others in the education community.
Shannon Holston, the chief of policy and programs at the National Council on Teacher Quality, an advocacy group that favors strengthening teacher preparation and classroom standards, said it was “heartening” that parents and the public gave high marks to their local schools. Still, she added, the declining prestige of the profession was a major concern that could be driven by the perception that “teaching doesn’t require specialized skills and knowledge.”
“The significant increase in the number of people who wouldn’t want their child to become a teacher is concerning,” Holston said in a statement. “To elevate the status of teaching so that we can attract and retain the strong, diverse teacher workforce our children need, we must set a high bar for entry into the classroom and provide teachers with comprehensive support and the competitive salaries they deserve.”
The poll’s full sample was 1,008 U.S. adults, with a margin of error of plus or minus 3.3 percentage points.
P.S. Since most of you can't or won't read...Wolff gave you one number,
and then used it to LIE about everything else.
@@jgalt308 But you can't SHOW the lie, can you?
Libertarians. Always lying.
Like your leader.
@@jgalt308 Gee, RW propaganda works. Who knew?
@@chetdudeweb707
Trust in teachers varies based on classroom subject, parental status, and race
Most people said they trust their public school teachers, but the level of trust varied depending on the topic. For example, 56 percent of respondents said they trust and have confidence in their community’s public school teachers “to appropriately handle” U.S. History, and 50 percent said the same of civics.
But only 44 percent of respondents said they trust teachers to handle “how the history of racism affects America today,” and even fewer-38 percent-said they trust teachers to handle gender and sexuality issues.
Trust in how teachers handle various subjects fell along ideological lines. Sixty-four percent of liberals said they trust teachers to teach U.S. history while 50 percent of conservatives said the same. And 52 percent of liberals said they trust teachers to handle how the history of racism affects America while only 39 percent of conservatives said the same.
The data don’t reveal why respondents don’t trust teachers to handle those topics, but media attention on efforts to limit discussions about race, gender, and sexuality in the classroom may play a role, Preston said.
This is a great show, we must defend it at all costs
Take good care of your health, Prof.Wolff 😊
You are back! Thank God! I missed you!
The milk farmer example happens a lot. A few years ago I had the exact same thing happen to me when I tried to start a company and compete with two very big ones.
The big guys were disposed of effectively: "The Kulaks" by the Bolshevics in the 1930s!
Keep it up Prof Wolff. You are fighting for our future, as young people, and we appreciate you. If you live to see the day, we promise to reserve you a spot to witness the changes we make✊🏼😂. for a better, brighter future, Where our lives aren't overrun by fear and anxiety.
YESS so glad you're back!
Excellent Mr. Wolff:
My relationship and me personally we follow all your programs.
We are located in Argentina and Bolivia, but we are sure that many people like us fallow you in all South America.
We hope that one day, your programs can come with Spanish subtitles.
For as is very important to know that in side of the system we have people like you who show the truth.
Thank you for your job.
His job consists of begging for money from people who don't have any,
and his own predictions are that this inequity will continue...so the only
future that following him promises is that at some point he will go
silent.
Michael Hudson, on the other hand, might help you understand what
you are dealing with...as the root of your problems are much closer to
home and lie within your own borders...and this is true for most
countries.
Very clear and instructive education. 👏👏👏
You are so right!!!
Very valuable insights. A system that crushes out human is color blind. We don't want a blind man to lead us for sure.
Same in France, same system !🙃
Merci to American and English people to export this system elsewhere.
We missed you!! Thank goodness you’re back.
Kudos to you Mr. Wolff RESPECT 👍
Can you EAT kudos????
Thanks!
Blessings Abound
🌏🕊️🌾🍞🙏🗽❤Good morning America, whoever doesn't understand the situation 🙏🍞
Spot on
You have made a tremendous effort, to summarize the current situation we live, in this foolish world.
Thank you
Nah, he is still clueless...
@@jgalt308 😮
@@ba7out and still clueless...🤣🤣😜😜🤦♂🤦♂🤦♀🤦♀😎😎😎😎✔✔✔✔✔✔✔✔✔✔✔✔
@@jgalt308explain how lol
@@jgalt308 You're a libertarian.
You don't know anything.
Update, we havent had capitalism in at least 70 years, what we have is croynism and communism for thee but riches for me
Hvala.
Thx for sharing 😮
Thanks
We need to change our system. We need better education and equity. And more workers rights.
So glad to see you back
thanks
Grazie.
Glad to see Prof. Wolff is okay! Missed him greatly!
Insightful creative journalism. Prof.(ret.) Mark Campbell Williams
Yup, total fantasy.
JBS, Cargill, Tyson all came together to reduce supply of pork, poultry, and beef in order to keep prices high. They all recently settled small settlements of low millions.
Great talk and program , thx
Eventually food for animals will go to high and people will stop or refuse to take animals from shelters .
Simple, real and unvarnished work... Love Professor Wolff... More power to EU and D@W...
Prof. Wolf needs to do voice acting. He could be so many characters in video games and tv shows. His voice is like a rubber band.
Immediate filing for bankruptcy is something many will benefit from if they have reached that point of no return in the American economic experience.
@@L3-mtDNA I was thinking mainly of the debt ridden average American household. I understand that about student debt. Democrats couldn't do anything to help. That stinks.
@@L3-mtDNA Supposedly they've made it "easier" to now to get student loans discharged.
I'll see it and believe it when half or more of all student loans currently in default get discharged in Ch 7 bankruptcy courts.
Or the judges assigned by the oligarchs just can't have that, and struck down the direction of the administration.
Love how the vast majority of the people petition for things like lower property taxes, even pathetic petitions to allow farmers to rake in lots more money providing empty land for people to park their RV's and tents and cars since renting is so expensive, even local county and state petitions fall on deaf ears.
Because the rule of the few outweigh the many.
Welcome to oligarchy.
next step a cardboard box, or perhaps you have a better idea.
@@jillfryer6699 Matchbox?
@@hermenutic Democrats like Biden - who pushed the bill to keep student debt holders from the relief of Bankruptcy - are a main part of the problem.
Just here for the algorithm. Keep going Richard.
You don't always have to apologize, you deserve to take it easy regardless of how that impossible that may be right now.
Yes, he should retire.
@@jgalt308 Maybe it is time for bed
@@jgalt308 No. You should though.
#M2/CD/CB/WI/FI
@@jgalt308 ??
"Thats crazy, but we live in a society made crazy by the contradictions of capitalism."
That sentence right there is so true.
"Thats crazy, but we live in a society made crazy by the contradictions of socialism."
That sentence right there is so true.
Exactly , they are trying to allow us to set into high prices . and then ease them down thinking we are getting a brake . A company like chewy is blaming the companies for raising their prices . Chewy is a animal food distributor company that brings us products all over the United States .
Please tell us your net worth and monthly expenses written off to" Democracy at work",Mr Wolff..?
I had no idea that the public trusts teachers.
I used to be a public school teacher in NY. As white, conservative, and Europe-educated pedagogue I wasn’t the “right-fit” in multicultural public schools. They squeezed me out of the system and looking at it from perspective they did me a favor.
Do we still have tons os ships lined up off shore "Waiting" to be unloaded ???
With the ongoing effects of high inflation, lower forecasted stock market returns, and stagnant wages, achieving a secure early retirement could be more challenging than ever before.
all these job seekers could easily be put to work if the government invested in expanding the infrastructure and renovating all the roads and bridges.
the state should invest in expanding wind turbines and solar parks and solar panels on houses and buildings all this would need a lot of workers. the wind turbines and solar farms would also provide many electricians with jobs. all this would create millions of jobs.
and a working train system
The way i see it, if after 90 days of negotiations over a union contract if it doesn't go anywhere the union contract becomes immediately ratified by law! any private company that stalls negotiations past 90 days will be forced to abide by the union contracts terms at the end of the period.
Perfect podcast to listen to before I have to surrender up my phone & dime bag of cocaine.
I gotta go into the White House Situation Room to talk business with my dad, The Big Guy.
Stay strong Man.
Lol, I remember a soy shipper driving circles in asian waters, until the price improved.
The correlation between public opinion and public policy is the measure of democracy. That correlation is currently zero in the US
Yes, we need a federal job guarantee, not leave people dependent on a universal basic income....which the govt can, and will, reduce over time.
It's not sugar water, it's high fructose corn syrup :P
NO WAGE. ONLY SPEND
Anyone else find it weird that we got all these climate actions happening that are being encouraged and spotlighted by the establishment, yet there are absolute no anti-capitalist actions getting any publicity at all, even tho that’s indirectly also very pro climate. I wonder why…
Probably because Anti-Capitalism isn't allowed on the capitalist owned media machine.
Don't believe me, ask Tucker Carlson. He got kicked off of Fox for allowing Anti-Imperialist and even an occasional Anti-Capitalist voice on his program.
@@LonerWeirdo Capitalism works on the principle that higher profits can be made by designing "products" that can be built by tireless robots but are meant to be thrown away and replaced by new ones. Most end up in the landfill within an average of 6 months. That's GOOD for the capitalist Owner/Donor Class.
@@chetdudeweb707 Still NOT capitalism...see Michael Hudson
I got my first job through the jtpa- job training partnership act. I worked at a wholesale seashell shop because my aunt was a recruiter and that was my nepotism hook up story.
Co-op our TIME EQUITY UNDER OUR OWN AUTHORITY ...OR ELSE.
Canadas port workers are on strike too.
❤❤❤❤❤❤❤❤❤❤
The student loan shark scam has put too many of us in life long servitude. I have paid back more than I borrowed but the Feds say I still owe $220,000
❤
Don't forget about prison slavery. No worker is cheaper than a slave and we still allow the slavery of imprisoned human beings.
The other way to look at it is business hatred of high wages are a tragedy of the commons phenomena. Despite ample proof that better wages improves profit, no one company’s stock holders will go with it. Greed, zero expectation of others and contempt for the work force all work against benefiting themselves. It’s a cascade of market failure.
Dear Prof. Wolff: please explain 1) which system works better with democracy : capitalism-communism- socialism.
2) Why the US favors bringing “ democracy “ to third world countries when it shows so many flaws in the capitalistic world.
There's no limit to greed. Capitalism celebrates and rewards the lowest human instincts
There's no limit to "enough"! and you really have no clue what any of those words mean.
Can you please tell me what is the name of your book about Russia (rise and fall?) I can't find it and I want to buy it.
Awesome program
We truly are being hustled.
True, but all you have to do is stop watching.
@@jgalt308 Time to change your diper
@@jgalt308 They meant by the government, idiot.
#M2/CD/CB/WI/FI
Unions get more powerful when the economy has full employment.
But you know that some Americans have to learn how to control their finances more to live better too
how would you solve all of these problems, i would like your opinion
@~16:50, unfun fact: Delco Remy closed it's automotive starter and alternator refurbishment factories in Virginia prisons to move them to Mexico to save on wages. A prisoner working for Delco Remy made less than $4/hr maximum.
I have never heard a good argument against the first contradiction that he raised. It’s a basic math problem. You’ve already spent the money on production and wages. If you don’t sell your products for a profitable price, you’re going to take a loss. If wealth inequality gets too extreme, you will reduce your customer base and it will be harder to sell your products. Unsold products means prices fall, which means profits fall and you take a huge loss on what you have already put out.
Missed you Prof Wolff!!
How does a nation owe money to a bank the nation created?
Because it's not the nation's money, it's the people's money. In theory, at least. Considering how little Americans get for their tax dollars, the whole 'owing money' thing amounts to empty promises to keep the masses passive.
Try a history book or two.
Oh thank goodness!
Glad to hear your views
Pepsi,tastes different to Coke and hold its fizz from much longer.
Watch from Vancouver canada🇨🇦
Cheers from Szczecin, Poland.
Please do a show with Marianne Williamson
Wow, we have alway known the Indians like to pick and choose numbers and measurements to report so they will look good, now the Americans are sinking to their level...
Wow, what can I say
It seems like supporting the requirement for expensive equipment so as to limit the market is like corporate gentrification.
Business govt.
thanks for this content! great stuff
Friggin Shyster 😂
❤ ❤️ ❤️
LLLMMMAAAOOOOOO
🎉😮
I would also like to hear any criticism you see in Marxist ideology.
I think it might improve the prospects for other hominids if
they could be properly conditioned...but apparently the stupidity of
it is too obvious for lesser hominid species.
20:37 hot tip: keep a list of things you need. I have a grocery list, a general merch list and a big ticket (research) list. I know what I’m buying and I know what it should cost and I want a good one. Larry Sumners works my nerves!
Larry Summer was proof in late 2008 that Obama was going to f*ck the working class and kiss plutocrat azz...just as Clinton did.