My formal education stopped after High School because I didn't have the financial means to go any further. So I'd like to thank you for sharing your wisdom and TH-cam for giving you the platform to do so. God Bless.
No need to thank youtube, its a subsidiary of google. Better to thank the men and women who built the service as altruism coexisted with the republic for its inception, almost as if its corporate citzens cried out for democracy. :)
Self-education is the way forward! Reading books about finance, business, banking, .... If you are after making big money, do not become a professor! University teachers, university researchers, ....make little money!
If you ever read Marx's works (Das Capital), don't be dismayed if you only make it to chapter 3. The vast majority who try to self educate from those works usually end up tailing off there due often to boredom as it is both written in the English of time and Marx was not a man for brevity when a paragraph would do. If you read them look up you tube lectures on them from David Harvey, he can guide you through the Victorian fog to modern examples and meanings.
I have spent 2 years with my company trying to negotiate a better pay rate, applying and being denied better positions while those positions are taken up by outside contractors. Finally after putting my 2 week notice they are just now offering me the position I wanted 2 years ago. It's like musical chairs
Guarantee they are trying to game you out of value. Ripped you off this far, willing to gamble on doing the exact same thing, with a slight murmur about the new you, who is now a power player. YUK YUK.
Also money it's self is the problem, because it will always concentrate into the hands of a small percentage of a population, it's a basic math problem that people don't even think about.
The point you make in the end Dr. Wolf. The Kings, have not gone away. They simply changed their wardrobe, and went incognito and sought their reign of power and control within the Corporation, under Capitalism at the very top, as billionaires, shareholders, board directors etc; the 10% and above! The Kings still have their thrones!
You are missing one thing the public who endorse the system perpetual pursuit of materialism under capitalism which feed the shareholders and ceos while the workers receive the scraps.
👇 "The perfect dictatorship would have the appearance of a democracy, but would basically be a prison without walls in which the prisoners would not even dream of escaping. It would essentially be a system of slavery where, through consumption and entertainment, the slaves would love their servitudes. " Aldous Huxley
Bravo, professor Wolff! Sheldon Wolin labelled the US system an "inverse totalitarianism." Folks vote the false binary, democrat or republican, both party's hopelessly indentured to corporations. Both democrats and republicans legislate to promote and advance corporate policies. Under the US version of totalitarianism folks, as if sleepwalking, vote for their masters, for those who wield the whips of power, never their liberators. Along comes a Ralph Nader telling folks the truth of their enslaved status. Nader was ignored. MLK said as much. Oh, this latter was assassinated... Senator Joe McCarthy _brainwashed_ most members of the "greatest generation" into defending the undemocratic corporate state by labeling truth-tellers "communist" and worshiping their corporate taskmasters. The majority bought into this language-based, indoctrinating demonization! The ignorance and fear are fundamental. As long as folks allow their fears to lead them, they will remain corporate serfs. Corporations are the _real_ cancer within the American body politic. Be well.
Think about why the powers that be decided to legalize pot? It was not the tax money or any benefit for the workers. It's just stoners don't get mad as easy, least that's my thought.
Theboyisnotright I think it’s the state of Cali that needed tax revenue. The federal government you’re right that they don’t need the tax revenue. In the 1970s etc the government made drugs illegal probably as a way of killing the counter culture and those that opposed war. Ya making drugs legal now from the federal government perspective it does seem like they’d rather have a docile people. Oh full prison systems also made some people rich over the years though.
What a fantastic and inspiring episode, again. I've been watching faithfully, routinely for a good couple of years and have learned so much. I'd also like to say i enjoy seeing Prof. Wolff debate other economists, and presenting the strength of these arguments against some friction in the form of arguments provided by those still enraptured by or unable to see any alternatives outside the current system we all have to abide by. If he could take part in some more in the near future this viewer would very much like that. Thanks for all you do.
Perfect. under the most free capitalist systems in the world, a tiny percentage of people choose to work for Co-ops. thats just a fact. people when given the ultimate choice, do not select that form of work. LOL And the co-ops that richard wolff supports so dishonestly, are just a capitalist company with capitalist vendors, and and capitalist management where not all employees are "owners" @@BekkaPoo
Something that surprises me is that a small group of corporations have so many umbrella groups under them that people think they are getting a choice on the products they buy. We know a lot of company names but we don't know which corporations own all these companies/brands. People work for companies without knowing the corporation who actually owns the company and many other companies. Umbrella companies owned by a few corporations. It's mind blowing.
You made a superb job in debunking the True nature of Multi-national Corporations that are unscrupulously creating miserable conditions to humanity around the Globe. Prof. Wolf, thanks a lot once again for your excellent explications on this topic. Yilma Wako from the USA.
Unless you are proposing the abolition of private properties, you have to allow for corporations. There's nothing wrong with corporations in and of itself. What's wrong is the relationship between governments and corporations. More specifically, what's wrong is the relationship between government and money. Government can be influence by money is the main issue. Corporations just happens to have money.
@@jgalt308 Please read your professor Hudson's _Superimperialism_ or _The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism_ (2022) and _The Collapse of Antiquity: Greece and Rome as Civilization's Oligarchic Turning Point_ (2023). Money has two obvious and main functions or identities. 1. A commodity used as a medium of exchange. 2. A commodity capable of being _hoarded_ in order to increase the hoarder's power or influence over those who _require_ this medium of exchange in order to meet their Maslovian existential needs. The hoarder with his currency purchases the means of production/resources and thus charges a toll/rent to those who need access to these resources. The hoarder--now a rentier--can arbitrarily raise prices, or limit the supply. In either case, the demand side of the equation does not change and inflation ensues. As you can tell, if currency gets hoarded to an extreme, exchange tends to slow down, unless the currency-generating authorities produce more. Problem, with more of this commodity/currency chasing limited goods, inflation once again enters the picture. And it becomes a downward inflationary spiral. Result, either the authorities tax the hoarder or worse, _borrow_ from the hoarder to meet the public's needs--money which gets paid with interest. The people can choose the form of government that deals with the hoarding issue through taxation or borrowing. Tragically, those brainwashed with a capitalist ideology, choose to protect and defend the hoarder(s) and to pay interest in perpetuity. Never underestimate the power of the simian brain's tribal impulse and its concomitant outcome, the _self_ -enslaving Stockholm syndrome... The Jack Finney novel, _The Invasion of the Body Snatchers_ remains the best parable of this sad human phenomenon. Be well.
@@crescentprincekronos2518 There is no money. It was last seen in 1933. We are in agreement...but you don't seem to recognize the nature of this agreement.
It's very convenient how you mentioned corporations paying taxes, but left out the people. In fact, corporations are taxed at the corporate level and then on the personal level, depending on structure of course.
Thanks for the continuous updates, The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that doesn't depend on the govt. Especially with the current economic crisis around the world. This is still a good time to invest in Gold, Silver and digital currencies ,ETH...)
Even the smallest shareholders want a maximum return on the investment. Why would they not go along with the directors at the top who seek to do the same?
yeah. huh is what i would expect you would say. most people that follow richard wolff are ignorant beyond belief. people like richard wolff completely ignore that millions of employees that work for those "evil corporations" are also themselves shareholders through stock programs. @@mjnyc8655
Dr. R. D. Wolff ; " You put all these impacts together and this is so far from democracy. It's almost a bad joke ". Sir., You are Shinning Bright : Tks., much appreciative.
"The goal of oppressors is to limit your imagination about what is possible without them, so you might never imagine more for yourself and the world you live in". - Ashley C. Ford.
Gee, "imagining more for yourself" is considered "greed" in the land of Wolff and the rest of the Marxists. Too bad they can't tell you how much is ENOUGH?????
Reagans policies in the 1980's saved america from the insanity of democrats policies of the 1970's. -- just like the insanity of the last 4 years. Regardless of government inefficiency, and bad policies against capitalism, you have completely failed to make a case for Socialism. Even your Messiah Richard wolff uses capitalism everyday to gain wealth for himself. LOL So even a devout socialist -- uses capitalism, not socialism to build his retirement. OOOOFFFF. it hurts to admit failure huh? LOL @@Ad_Blocker_For_TH-cam
also, you fools that blame reagan for all kinds of shit and ignore the many good things he did -- after being handed a disaster by democrats is horribly dishonest. but thats how the left operates -- on half truths. @@Ad_Blocker_For_TH-cam
Prof. Wolff.: How does, do socialists overcome the concentration of power at the top; where's an example with a big country, or group? The "people" is renaming the power at the top! "The people" name is advertising for the power at the top, that is for these same few who are running everything! How do we come out ahead here?
This was excellent. I think a show explaining how feudalism actually worked would be very helpful. Most people have heard the term, but have no understanding of how it actually worked. The most we hear about it is fairytales about kings and queens. Episode much like this one about the corporation, but explaining the workings and various elements of feudalism and practice would be very enlightening. I watched the full lecture series on the French revolution on the great courses, and it made modern politics so much more clear in terms of the origins of left-wing and right wing in our modern democracies. and I don’t just mean a recap of what the Jacobin movement was I mean before that, what was feudalism the mindset of people, in terms of who they reported to who controlled the levers of power and the roles of different institutions in a society structured that way
Yeah feudalism was a real witch of an economic system,, seemingly built on a modified barter system,, exchanging subsistence work on whatever needed doing for security.... I don't think anyone living now can imagine feudal conditions,, the homeless maybe but living on the dregs of the capitalist system is a lot different from trying to scrape a basic living out of nature or people who didn't have much themselves... The idea of exchange or some sort of money evidently either survived through the last ice age,, or was invented post- ice age because although no one really knows how it started,, to me it seems likely that people would be more concerned about something warm to throw over themselves or some food that wasn't rotten or some water that could be drunk than collecting gold.... Point being,, it seemed that during the feudal or dark age after Krakatoa blew up in 536 that the capitalist system nearly disappeared, with superstition being substituted for a society built on the linear goals of scientific advancement...
Everyone has their own destiny. I am fullly retired from a lifetime of working last year. My occupational journey took me from interactive kiosks to marketing to medical equipment manufacture. It has been a long journey. Funny thing is I now clearly see the places where I've been more than when I was actually there.
@PearLock Your not alone, I hope this comes soon but in the mean time thank you for not becoming part of the problem. Hopefully as more and more people escape the programming our globalized culture has endured we can all say goodbye to the adversity.
@@jgalt308I would love to believe this, too. But it just isn't so. Thanks to _Citizen's United_ and its lesser known precedents, dark moneys, corporate-backed PACs, etc. easily pay for political campaigns of seriously vetted corruptible aspirants. They're vetted for their corruptibility, I would assume--their "yes man" proclivities, or their susceptibility to blackmail... Many may have barely legal or morally offensive "habits" and can be bought. After all, we _all_ "have a price." Campaign sponsors know this' they pick out the self-selected "power-seekers" and take it from there. All of us arrive bestowed with a simian brain which among other impulses contains the _primacy_ (or "king-of-the-hill") impulse. Many of us learn to live with it or arrive with a weak version of it. Or, else it never got reinforced nor triggered. Look at poor tfg, his narcissism coupled with this impulse has transformed him into an obnoxious laughing stock. That said some badly "battered-down-by-capitalism" folks perceive him as a messiah who will "empty the swamp" and march them to a mythical paradise where they can bask in the light and/or shadow of this "leader." Of such stuff are cults "made"... But the poor and mediocre who seek power over the rest of us run to corporate sponsors, sell their souls and receive campaign funds. Once in office the successful candidates become handmaidens to their souless, immortal person sponsors. Oh, you'll see a well-publicized sop or two thrown to the serfs waiting for scraps that fall from the table. The problem begins (and that's here and now, _today_ , post-2008) when the serf population increases and those scraps don't go very far. Isn't trickle-down, finance capitalism grand? Be well.
@@accordionthief I've even heard of gang rape. What's your point? And the meaning should be quite clear to those who are confused about who actually has power...but since you have claimed it doesn't, feel free to enlighten us as to why it does not?
You will note that in the US "freedom" is always used in political discourse, never _equality_ which is authentic freedom! Our corporate overlords understand this and control the narrative, always excluding this seditious, _liberating_ concept... Be well.
@@jgalt308 oh, you are trying to be philosophical here. No, you can't make everyone happy, that's for sure. But you can change the way society works and remove at least the major failures it contains. The video names multiple. Pretending that you do not see them does not make you look smart.
@@smelyzzajko No, I asked a question that you did not answer... does that mean you don't know the meaning of "greedy"? Here's another one... What's the difference between "the exploitation of " and "the use of ". "The Master said....If names are not correct, language is not in accordance with the truth of things. If language is not in accordance with the truth of things, affairs cannot be carried on to success........Therefor a superior man considers it necessary that the names he uses may be spoken appropriately. What the superior man requires, is just that in his words, there may be nothing incorrect." "The Master said,.....Without knowing the force of words, it is impossible to know men." Confucius 551 -479 B.C.
The quality of jobs have gone down over the past 50 years. [1970s to 1980s] full time jobs with benefits. [1990s to 2013] Part time jobs without benefits [2013 to present] Gig jobs that pay less than minimum wage, and no benefits.
@@paulsherman51 From 2024 to the future, most people won't have jobs. AI and robots with AI brains will do most jobs humans do. Sure, there will be some humans that have jobs, but few people will be able to do the job of many. For example, one programmer will be able to do the job of 10 to 20 people with the help of AI. Robots will be able to do service sector jobs, like making fast food, etc.
@@Ace1000ks Question: What is the proper or healthy *rate* of change of techology? We all know innovation is inevitable. Some recent examples are the digital watch (kids don't learn to tell time); the velcro shoe 'lace' (kids don't learn to tie laces; the word processor; the spelling checker (we forget how to use a dictionary); earlier examples are the horse-less carriage; and the steam engine. I might guess it depends on rate of absorption among all aspects of society, like a paper towel or a sponge being effective to mop up a water spill on the table. Is it better to be a technocrat or a luddite? The trick, I think, is everyone must interact together to figure out how to work things out and make things better, in a wholesome sense.
@@paulsherman51 I think these changes are going to move faster than most people can adjust to it. Most people are going to be thrown in the deep end of the pool, so they will have to learn how to swim or they will drown. This is the world we live in.
@@paulsherman51 I don't know how to make a bow and arrow and I don't feel unhealthy. But if necessary, I could learn. Let's reformulate our questions. How does cro-magnon man, or our latter-day version, Medieval superstitious homo sapien acquire a humanistic morality that helps him learn to control nuclear weapons? That helps him realize that such species-and-planet-destroying tools serve no purpose and can be left behind? That helps him realize that, indeed, each one of us is created with _equal rights_ to water, food, shelter, health and education, that these are _not_ "privileges" reserved for the lucky or coercive few? We must learn to validate ourselves and others, to see our humanity reflected in the eyes of strangers who will cease to be so once we try... Be well.
I once had a guy explain to me how he owned 100 Shares in Apple or whatever and he was definitely going to vote on the next Shareholders Meeting. I just looked at him incredulously and thought, I need a new lunch table.
Elon Musk controls 13% of the voting shares of Tesla. Warren Buffet is so greedy running Berkshire Hathaway that he pays himself less than his secretary, and the company issues no dividends.
Wow, this is one of Richard Wolff's best lectures yet! Clear, brutally truthful, audacious. Has anyone heard of Merz Institute? I'm wondering if they are on the right track to find a way to motivate the world to actually sit down and cooperate with each other in order to fix our economic and ecological problems before it's too late. The Guardian recently published an article on Merz Institute's research on the "behavioral crisis" driving "ecological overshoot" which is killing our planet. Marketing and growth economics are identified as key drivers of this global sociopathic behavior. The paper says, the world knows we are consuming faster than the Earth can replace resources, but our evolution as a society has travelled so far down a maladaptive route that we find it impossible (or nearly impossible!) to change course and save ourselves. They argue research should be focused on the behavioral sciences now, because that is where the crisis is -- not in the physical sciences, which are advanced enough that we know the multitude of technological, biophysical and chemical corrections that need to be taken. We just can't figure out how to get there from a human, anthropological, or sociological point of view.
So which of those irreplaceable resources are YOU consuming and why haven't you stopped? Who have you sat down to cooperate with...and what is it that you are cooperating about? What is our Professor doing in this regard? Other than just talking about it?
you think a socialist is going to be truthful about capitalism? you think the guardian is honest unbiased news source? dude. you fill your head with garbage -- thus your comments are garbage.
Board of directors are even more sinister than CEOs since they ultimately decide on CEOs and initiate industry and economy wide policies since so many of them are themselves on so many other boards in addition to often being part of the capital funding entities whose other chief stakeholders are on so many other boards. It's them who decide things on mass layofffs across all companies they are on boards for in addition to things like returning to office etc. They pressure masses of companies to do their biddings.
0:50 Throughout human history, different economic systems have had central institutions responsible for the production of goods and services. - SLAVERY, where core productive units are SLAVE PLANTATIONS - FEUDALISM, where core productive units are FEUDAL MANORS - CAPITALISM, where core productive units are CORPORATIONS The organization of production within corporations could be considered fundamentally undemocratic, unjust, and unnecessary (just as the human race found the slave plantation and the feudal manner to be).
13:40 Prof. Wolff mentioned globalization and technological progress as two things that are used as excuses for the way things are currently. Basically a synonym of technological progress, I hear the word 'innovation' used a lot as a scapegoat for the current order. It usually goes like this, "But what about innovation? We won't get all the cool gadgets without innovation. So, therefore since this is the only system that can bring you the iPhone." Another one is the idea of motivation and incentive. It usually goes something like, "But, what will motivate or incentivize people to work or do things? Capitalism provides those two things." What they conveniently leave out is the unspoken part where everyone everywhere is essentially threatened with homelessness or starvation every day of their lives unless they submit, among other things.
Submit to what? Only the government has a monopoly on force. At some point, you have to connect the dots to arrive at your conclusion and you seem to have skipped that part. One might ask, what is the motivation that inspires innovation? Then one should ask, in such cases where one's needs are met or where the expectation exists that they will be met, what would inspire innovation then?
Small businesses (under 500 employees) employ 46.4% of all U.S. employees. In the last 25 years small businesses have created 2/3rds of all new jobs in this country. Foreigners own 40% of U.S. stocks so it would seem impossible for the top 10% of our wealthiest to own 80%. But let's don't let facts get in the way of a good Marxist rant.
Would love to see the source of this data. That said, one reality we've witnessed lately is that oligarchs and the billionaire brethren essentially exist as stateless beings or _purchase_ "citizenship" for tax advantages. "Foreigner." What's a _foreigner_ to shareholder owned corporations? Recall, as the joke goes, they "don't need to vote; they have lobbyists..." Be well.
Professor Wolff schools Lex Fridman on economics and how he would run a business, or how he thinks business should work, or.....????? The following was an excerpt from a three-hour interview with Lex where Wolff offers the following example of his understanding of all of the above. An employer hires 100 employees as labor to produce "whatever", for $100 and then spends another $100 on the materials the production requires. From this, he receives a $20 profit and repeats the process. He then purchases a machine that replaces 50% of his workforce...so he does. Wolff disapproves of this as labor is always exploited ( except in the case of Mr and Mrs Smith who agree to sell their business to their employees ) and he suggests that all the employees should be retained at the same rate of pay, while only working half the hours. ( because labor is 100% responsible for what is being produced. ) This is similar to "other examples" he has offered in his attempt to sell the "democratically run work place where the "employees" decide what to produce, when to produce, and how to produce as well as what to do with the profits." Now this example is completely flawed and so detached from reality that it is impossible to take it seriously...except on this site. So I leave it to YOU, to decide whether to attempt to defend this idea or see how many flaws you can find pointing out a singular one that as an "existing business" all that what to produce stuff has already been determined, as it would be for any "existing business". Will those who have been "brilliantly educated" by the Professor respond with anything intelligently relevant or substantive? We shall see.
He is lying and peddling the debunked labor theory of value and Marxist exploitation theory. This has been proven wrong by Menger and Bohm Bawerk over a century ago.
The title of this excerpt BTW was "Why Capitalism Fails"...which is as absurd as the example given...nor is there any evidence that it has, since in those countries that have been offered by Wolff as supposed evidence are no longer in the main capitalistic...although one should not be surprised, since if one doesn't know what capitalism is...the claim of its demise is greatly exaggerated.
How does it feel living in a country where 6% are living in trailer parks? You don't even have the right to vote. Lobbyism gives them control even outside of the time you sell too those corporations. Try selling unpasteurized milk and feel your democracy in your prison cell. At some point people just stopped looking for different concepts to manage wealth and power, while those that existed became exploitable, communism and capitalism.
Former Yugoslavia had experiment with democratized business entities, it was called Workers' Self Management. In some cases, it was functioning as intended, but in most cases, cleaning lady had the equal vote as engineer or economist, leading to decisions not made with business logic in mind. We all know how it ended, unfortunately.
@@vihornis no economy collapsed. Eastern block lost cold war, because it did not own 3/4 of the world to extract resources for that war and exhausted itself on military spending. Yugoslavia worked very well. Much much much better than USA. And by the way, you forgot to explain how many cleaning ladies a corporation has and even then why they are not humans.
@@smelyzzajko 1. Yugoslavia was not in Eastern block. 2. It did not "work very well", only at that time influx of cash from the west made it not visible to common people. 3. None said that cleaning ladies are not humans, you are twisting my words, only in workers boards all workers had the same voting power, that was the idea of workers' self management utopia. Cleaning lady was a metaphor.
Since when can u compare Corporations to the slave plantations ? These Corporations have provided good jobs to thousands of people Democracy is a political system and does not apply in the Capitalist system Have you got anything against rich People like Elon Musk Who have provided thousands of jobs with good wages Companies are run by people who have the expertise and are of course well paid because the success of the company depends on them
Elon Musk isn't an engineer, yet he operates engineering businesses. So, no, companies aren't run by people with expertise. Also, how can you say "thousands of good jobs" and think that is a good thing? You realise there are hundreds of millions, or even billions of employed people, right? How can you say "only a few thosand of them have good jobs, so that system is perfect"? 😂
@@vebdaklu and he only owns 13% of the stock... and he didn't say that, you did. But he started with a question...which you didn't answer and probably won't.
You don't need to be an engineer to run an engineering business In Capitalism all you need is the Capital Just like Elon Musk is not a scientist but he is also in the Space Industry Do you expect him to provide work for Al l the billions of unemployed in the world?
I read somewhere that when V.I. Lenin had to build a government after overthrowing the Czars, he chose the corporation as his model because he recognized that the corporate governing structure was the most effective mechanism for establishing centralized control.
If you visit the requirements for the filing of a "certificate of incorporation" the officers listed are the following...president, vice president, treasurer, and secretary. So your point is? That government is the most effective means of governing?
@@jgalt308 Most of the "problems" with capitalism are because of government. its progressive policies mostly that over tax, over regulate, build fat government and entitlements. Conservatives build better economies, when coupled with reasonable laws and regulations.
@@ronaldreagan-ik6hz "Capitalist freedom"--a great oxymoron. Thanks for the laugh! Please re-read your Maslow and his hierarchy (pyramid) of existential -_-needs_. Capitalism fails from the very base, as it's an ideology that justifies _privatizing-_- the basics. To meet their biological needs the typical individual living under capitalism has to -_-indenture-_- themself. And whomever forces them into such degrading status is by definition inhumane and -_-immoral_. I take it you're not familiar with the story of the infamous capitalist Thomas Inkle and Yarico, the native who saved his miserable life (Richard Ligon's _True and Exact History of the Island of Barbados-_- , 1657-- retold in Steele's "Spectator," number 11). That's understandable, not a reassuring one in the capitalist "canon"... I understand that self-delusion is big in the human brain, please allow yourself a day or two in self-examination. . Be well. en.wikipedia.org/wiki/Abraham_Maslow#Hierarchy_of_Needs
microsoft has created about 15,000 millionaires out of employees. Employees get stock in a company they never started. and you idiots only follow fools like Richard wolff? How sad.
corporations are undemocratic, but that is trivial, a consequence of the fundamental structure of the nation. almost every nation is an oligarchy, ruled by people who manage the nation as a whole. they may be elected, or selected, or born to the oligarchy., because their ancestors did the fighting to establish the society. corporations are specialized, commercial oligarchies, focused on an economic goal. they are not a poliical organization, but may try to influence politicians, to promote business. mussolini coined the word 'fascism' to decribe a society of this sort. usa is a fascist society, but too vain to use a foreign label. the fundamental distinction of human society, is the answer to the question, ''who rules?' if one, then monarchy [ and tyranny, , or dictatorship ] if a few, oligarchy if all the citizens, then democracy. that last is popular. so popular that many societies claim to be democracy, to discourage people from the effort of actually getting democracy. usa is one of these societies. you'd think people would catch on, but as long as you have enough to eat, you submit. democracy happened in athens, because the men who rowed the navy ships were the key element of athens' prosperity. their society had built-in military unions, of the lowet ecoomic and social position, but most numerous part, by far, of the military establishment. they could and did, move the navy, and stop it.. the swiss had a similar experience, which led to a proto-democracy still in use. they are the only society entitled to call themselves democratic.
@@ronaldreagan-ik6hzAre you rich yourself? Capitalism actually isn't that sustainable (not just in environmental terms, but also wealth inequality, corruption,low wages and more of bad stuff like this) Capitalism actually accelerates itself, and when wealth inequality would become so severe, corruption so high, wages so low, what will people do? Protest,revolt or organise, and capitalism means exploitation, so i do passionately hate the rich and i actually don't want to be rich, because of bad stuff they cause, read about working co-ops and alternative economic models and about democratic socialism, and you will see yourself more enlightened.
Its funny that people like you follow idiots like Richard wolff then you go on and type the garbage you type, protest, vote like and idiot, etc. Look at any professional sports league. Almost none of those players came from money or family dynasties of high achievement. They earn their spot through merit and achievement of great heights. That’s how capitalism works. And the best atheletes get paid the most-shocker. And the atheletes that party hard, get into legal trouble, don’t stay in shape in the off season, get pushed out by the more diligent players - again, just like capitalism. @@EnvironmentalAvocado777
Capitalism is the polar opposite of exploitation. To even suggest that the freedom in Capitalism is exploitative is the most uninformed, idiotic comment anyone could possibly make. That’s just false, 100% false. Wealth inequality is that you get when you have a free system like capitalism because not everyone is as smart or ambitious as everyone else. So the high achievers get rewarded with more money, and the low achievers get rewarded with low opportunities. My god dude. How are you this stupid? You need to look up two things. 1) the pareto principle. 2) Thomas Sowell on income inequality. Good luck man. @@EnvironmentalAvocado777
Thank you for the reality check. It seems most people live to work. India , in the ,1940s awoke and realize the were nothing more than slave to their overlords, The British Corporation. Most everyone stopped working until Britian acknowledged the concerns of the masses of India. Now days, mostly in Westernized Countries, the Corporations own most of the financial assets. Now, they are hell bent in owning private property of the average person. Many people are starting to wake up to the fact that working for Corpations is a scam, realizing these Multinational Corporations care less about is good and just for a community. It is all sbou one thing money and nothing else. I am not sure how humanity will fix the current situation. But if history is an indicator, humanity will shed the system, as they did with Feudalism and the self appointed elites in 1789 France
Feudalism ended in the 15th century...and the revolution of 1789 was followed by Emperor Napoleon, Napoleon II, Louis the XVIII, Charles X, Louis-Phillipe, Louis Napolean Bonaparte, and Napoleon III. Your grasp of "reality" seems a bit tenuous.
It was Paul Sweezy who famously said, "socialism is not socialism unless it is fully democratic. And if it is not fully democratic, it needs to be called something else." My suggestion for that 'something else' is "centralism".
@@paulsherman51 communism and socialism are not democratic in any way, shape or form. But unbridled capitalism where Elite's are doing what they are doing is also not democracy but a plutocracy.
@@TacticalMayoI wonder, if corporations were given complete tax immunity; State and Federal, for establishing and maintaining an all-worker Board, with one or more (preferrably three) Board members from each major division in the company, fairly selected among vote of each and every full-time worker, would it work and be sucvessful? Punishing and penalizong bad behavior always creates animosity and brings resistance and conflict, if not being terribly slow. Rewarding good behavior does just the opposite, and faster, too. Once one company digs in, others are sure to follow.
Sr. Wolf, será posible que haga un programa que explique cómo es que Argentina se dolarizará cuando la economía de su país se debe 34 trillones de dólares y qué es lo que puede pasarle? Muchas gracias.
Preguntele tambien al professor Michael Hudson ( _Superimperialism_ ) por una presentacion. Estos dos maestros son autenticas supernovas en el firmamento geopolitico financiero. Para empezar, los oligarcas se han adueñado del pais y su banca. Estos determinan el valor de la moneda con el fin de controlar el valor adquisitivo del sueldo del obrador. Inflacion _planificada_ . Arriba y adelante!
Imagine, pointing the blame at fictional entities. It's the people, and bad people exist within each social/economic class. We have an existential crisis when it's rich people, but we act as if other undesirables (i.e. criminals, prostitutes, drug lords) are just a fact of life. Corporations are people before anything else.
Excellent broadcast. Even better topic. Helping the population realize the false reality that has been fed to us all, beginning in our infancy. The truth has a karma just like a lie has its own karma. Feed the people the truth and they will live in truth. Feed them the lie and they will live in the lie. Let the light shine through the darkness of the ignorant mind. Be blessed brothers and sisters and keep to the truth. Change begins with one. You are that one. We are that one. 🙏
Please, don't let this be the only place you go to learn how a corporation is structured. He leaves out so much of why the structures are what they are, which makes it difficult to understand solutions to corporate malfeasance and inefficiency. And be aware that often (but not always) shareholders, boards, and executives interact differently depending on the size of the corporation.
@@jgalt308 How they work we see every day. How they came to be is obvious - by a very long history of ad-hoc random chaotic updates of power-play that were most of the times motivated by selfish reasons of individuals to increase their wealth and power, without considering interests of the society.
@@smelyzzajko If it is "obvious" then the history of corporations and their evolution in the U.S. should be easily explained and take far less time than Wolff spent on this video which explained nothing.
the society consists of rich and poor-- and middle. nearly everyone floats among the categories throughout their lives. no one magically gets rich or poss. its all based on effort and responsibility. @@smelyzzajko
Why should co operations be democratic whilst their principal goal is to acquire maximum profit and dredging off competition. When the dredging doesn't work they merger, The accusation thrown to these entities is not fair since actions or reaction are natural occurrence given the triangle setting of co operation government and the public, To curb unfairness or undemocratic practice in capitalist democratically system is impossible but the signs it is going to implode are evident,
Dr. Wolf You've pointed out our country is not really a Democracy and the top 1% control all the corporation. What is your solution ? I would to see a video on that. I do really enjoy your videos.
@@ronaldreagan-ik6hz Seems everybody forgot the Pledge of Allegiance repeated every day for 12 years? including the "with liberty and justice for all" part. as well as this warning... "Government is not reason, it is not eloquence, it is force; like fire, a troublesome servant and a fearful master. Never for a moment should it be left to irresponsible action." coincidental with the founding of the said republic.
Capitalism is he most successful system on earth. the usa and the constitutional replublic has been a positive force in the world despite the failures of government. @@jgalt308
@ronaldreagan-ik6hz Republic - Democracy, not that big of a difference Mr. Noun police. Does it make you feel good about yourself correcting everyone Ronald Mcdonald.
@jgalt308 I remember singing pledge of alliance too although I found it wierd thing to do in Germany where I was born they didn't sing chants of loyalty to the government. Hitler made childern do that in the third Reich though.
Corporations are just like plantations matter of fact most institutions have this same structure. They exist for the exploration of labor and resources thats it and thats all thats how the nation was constructed. You would have to dismantle the entire system for anything to change.
richard wolff is a fucking hypocrite as he uses capitalism to sell books, clicks, speaking fees, professor salary. so so much for a hypocrite socialist huh? being anti-capitalist is would make anyone a complete fool, given there is no better system on earth that provides more freedom and prosperity. my god dude. how are you this stupid?@@paulyayala2645
It's insane that Corporations (AKA fictional legal entities) have been given more "rights" and "benefits" than actual human beings. Lawmakers make laws protecting these organizations at the expense of living human beings.... and trillions of animals.
@@jgalt308 no, the video was not about the unimportant details on how capitalists rob everyone. It was brilliant, because it focused on the core of the topic.
It's a strange conclusion to say, "it's not the fault of the advertisers." It sure is. To paraphrase Buffy Sainte Marie's "Universal Soldier"-- without them all this conning/selling can't go on. There's blame for the corporations, but there's blame for their underlings who choose to carry out their dirty deeds too.
An interesting side note: at least some of the members of a corporate board are also officers of that corporation. Other members are often past or present CEOs of other corporations. Mutual funds, which often include pension investments, are often major share holders in these corporations. Although there are corporations where a billionaire owns the majority of the shares, such does not seem to be typical.
![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: The U.S. Election and Trump 2.0 in Historical Perspective [November 2024]](/img/tr.png)
My formal education stopped after High School because I didn't have the financial means to go any further. So I'd like to thank you for sharing your wisdom and TH-cam for giving you the platform to do so. God Bless.
No need to thank youtube, its a subsidiary of google. Better to thank the men and women who built the service as altruism coexisted with the republic for its inception, almost as if its corporate citzens cried out for democracy. :)
Let’s remember how much Utube censors all kinds of people whenever they feel like it. It’s not a good thing.
Self-education is the way forward!
Reading books about finance, business, banking, ....
If you are after making big money, do not become a professor! University teachers, university researchers, ....make little money!
wisdom? from a socialist? oooof
If you ever read Marx's works (Das Capital), don't be dismayed if you only make it to chapter 3. The vast majority who try to self educate from those works usually end up tailing off there due often to boredom as it is both written in the English of time and Marx was not a man for brevity when a paragraph would do. If you read them look up you tube lectures on them from David Harvey, he can guide you through the Victorian fog to modern examples and meanings.
I have spent 2 years with my company trying to negotiate a better pay rate, applying and being denied better positions while those positions are taken up by outside contractors. Finally after putting my 2 week notice they are just now offering me the position I wanted 2 years ago. It's like musical chairs
Guarantee they are trying to game you out of value. Ripped you off this far, willing to gamble on doing the exact same thing, with a slight murmur about the new you, who is now a power player. YUK YUK.
thats called the power of negotiation.
That's excellent,, 👍 and hope your situation stays stable...
You only become more Valuable when you make yourself more Available...
it happened to my 20 years ago, but when they offered to my whatvI been lookin for almost 2 years , ... I sent them to 🤬🤬🤬 and I walked away ...
Keep up the good work. Your broadcasts are very educational.
We are not free that’s for sure
@@rachaelgraham8963I am tankie.
You, me, and everyone else in this country have the freedom to choose not to work for these companies or buy their products.
Also money it's self is the problem, because it will always concentrate into the hands of a small percentage of a population, it's a basic math problem that people don't even think about.
Which is interesting due to the fact people lives revolve around money.
The point you make in the end Dr. Wolf. The Kings, have not gone away. They simply changed their wardrobe, and went incognito and sought their reign of power and control within the Corporation, under Capitalism at the very top, as billionaires, shareholders, board directors etc; the 10% and above!
The Kings still have their thrones!
You are missing one thing the public who endorse the system perpetual pursuit of materialism under capitalism which feed the shareholders and ceos while the workers receive the scraps.
Petty Tyrants. Cooperative is the solution.
@@Trace-l7k Until you do the math after you figure out what the words mean.
richard is a socialist. No one gets rich under socialism except for the government.
Everyone should know the functions and way of governance and accounts.
👇
"The perfect dictatorship would have the appearance of a democracy, but would basically be a prison without walls in which the prisoners would not even dream of escaping. It would essentially be a system of slavery where, through consumption and entertainment, the slaves would love their servitudes. "
Aldous Huxley
Bravo, professor Wolff!
Sheldon Wolin labelled the US system an "inverse totalitarianism." Folks vote the false binary, democrat or republican, both party's hopelessly indentured to corporations. Both democrats and republicans legislate to promote and advance corporate policies.
Under the US version of totalitarianism folks, as if sleepwalking, vote for their masters, for those who wield the whips of power, never their liberators. Along comes a Ralph Nader telling folks the truth of their enslaved status. Nader was ignored. MLK said as much. Oh, this latter was assassinated...
Senator Joe McCarthy _brainwashed_ most members of the "greatest generation" into defending the undemocratic corporate state by labeling truth-tellers "communist" and worshiping their corporate taskmasters. The majority bought into this language-based, indoctrinating demonization! The ignorance and fear are fundamental. As long as folks allow their fears to lead them, they will remain corporate serfs.
Corporations are the _real_ cancer within the American body politic.
Be well.
Exactly what we’re living in.
Referring to slaves and capitalism makes you an idiot.
Think about why the powers that be decided to legalize pot? It was not the tax money or any benefit for the workers. It's just stoners don't get mad as easy, least that's my thought.
Theboyisnotright
I think it’s the state of Cali that needed tax revenue. The federal government you’re right that they don’t need the tax revenue. In the 1970s etc the government made drugs illegal probably as a way of killing the counter culture and those that opposed war.
Ya making drugs legal now from the federal government perspective it does seem like they’d rather have a docile people. Oh full prison systems also made some people rich over the years though.
What a fantastic and inspiring episode, again. I've been watching faithfully, routinely for a good couple of years and have learned so much. I'd also like to say i enjoy seeing Prof. Wolff debate other economists, and presenting the strength of these arguments against some friction in the form of arguments provided by those still enraptured by or unable to see any alternatives outside the current system we all have to abide by. If he could take part in some more in the near future this viewer would very much like that. Thanks for all you do.
There is no alternative.
@@TacticalMayo Socialism.. does that word scare you? Uncle Sams propergrander is quite effective.
@@cjthebeesknees it's pure poison, hell no 👎
@@TacticalMayo you’d rather we remain as slaves then?
@@cjthebeesknees socialism is barbarism.
Should be required viewing for all -Americans- people.
Comprei seu livro sobre democracia nas corporações e lerei em breve. Agradeço pelos conhecimentos que o senhor compartilha.
eu não concordo 100% com o professor Wolf, mas ele tem vários puntos a favor
Deeply extend my gratitude.
This is great as it breaks down in easy to understand terms just why this system doesn't work and why it doesn't reflect democracy in any way.
then go work for a co-op. you have that right right now.
@@ronaldreagan-ik6hz how do you know I don't already?
Perfect. under the most free capitalist systems in the world, a tiny percentage of people choose to work for Co-ops.
thats just a fact. people when given the ultimate choice, do not select that form of work. LOL
And the co-ops that richard wolff supports so dishonestly, are just a capitalist company with capitalist vendors, and and capitalist management where not all employees are "owners" @@BekkaPoo
@@BekkaPoo So what are those easy to understand terms?
Democracy for instance?
Just for fun could you identify "the system" you are referencing?
Something that surprises me is that a small group of corporations have so many umbrella groups under them that people think they are getting a choice on the products they buy. We know a lot of company names but we don't know which corporations own all these companies/brands. People work for companies without knowing the corporation who actually owns the company and many other companies. Umbrella companies owned by a few corporations. It's mind blowing.
Koch industries owns our country
Yeah like monopoly, scary af. Support your locals
Good point. When monopolies dominate there is little choice. Walmart or Amazon. Under the corporate state Americans have NO power.
It is to hide the fact that we are getting closer and closer to monopolies everywhere.
Agreed! This should bemade known on every advert.
You made a superb job in debunking the True nature of Multi-national Corporations that are unscrupulously creating miserable conditions to humanity around the Globe.
Prof. Wolf, thanks a lot once again for your excellent explications on this topic.
Yilma Wako from the USA.
Unless you are proposing the abolition of private properties, you have to allow for corporations. There's nothing wrong with corporations in and of itself. What's wrong is the relationship between governments and corporations. More specifically, what's wrong is the relationship between government and money. Government can be influence by money is the main issue. Corporations just happens to have money.
There is no money. It was last seen in 1933.
@@jgalt308 Please read your professor Hudson's _Superimperialism_ or _The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism_ (2022) and _The Collapse of Antiquity: Greece and Rome as Civilization's Oligarchic Turning Point_ (2023).
Money has two obvious and main functions or identities. 1. A commodity used as a medium of exchange. 2. A commodity capable of being _hoarded_ in order to increase the hoarder's power or influence over those who _require_ this medium of exchange in order to meet their Maslovian existential needs. The hoarder with his currency purchases the means of production/resources and thus charges a toll/rent to those who need access to these resources. The hoarder--now a rentier--can arbitrarily raise prices, or limit the supply. In either case, the demand side of the equation does not change and inflation ensues.
As you can tell, if currency gets hoarded to an extreme, exchange tends to slow down, unless the currency-generating authorities produce more. Problem, with more of this commodity/currency chasing limited goods, inflation once again enters the picture. And it becomes a downward inflationary spiral.
Result, either the authorities tax the hoarder or worse, _borrow_ from the hoarder to meet the public's needs--money which gets paid with interest. The people can choose the form of government that deals with the hoarding issue through taxation or borrowing. Tragically, those brainwashed with a capitalist ideology, choose to protect and defend the hoarder(s) and to pay interest in perpetuity.
Never underestimate the power of the simian brain's tribal impulse and its concomitant outcome, the _self_ -enslaving Stockholm syndrome... The Jack Finney novel, _The Invasion of the Body Snatchers_ remains the best parable of this sad human phenomenon.
Be well.
youre right. Richard wolff is a complete idiot.
@@jgalt308of course there is. Real resources, food, fuel, water, gold, connections, reputation, etc.
@@crescentprincekronos2518 There is no money. It was last seen in 1933.
We are in agreement...but you don't seem to recognize the nature of this agreement.
Thank you for your excellent explanations, Professor Wolff. Also thank you to your staff
He can't afford a staff...but having designated himself as a non-profit
he has at least demonstrated the truth of that description.
Thank You for elucidating the operational structure of a corporation. I haven't heard such a well compressed discription before.
Now THAT is hilarious.
It's very convenient how you mentioned corporations paying taxes, but left out the people. In fact, corporations are taxed at the corporate level and then on the personal level, depending on structure of course.
Thank you this is what we need.
Thanks for the continuous updates, The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that doesn't depend on the govt. Especially with the current economic crisis around the world. This is still a good time to invest in Gold, Silver and digital currencies ,ETH...)
Glad I got into crypto when I did because it's been a turning point for me financially been my best decision so far
Bot. Poor people don't need to invest in gold, silver, or crypto.
@user-Arne1rq3uj9pPartially true but theres something to be said for economies of scale and disproportions in time to value.
and dont vote for crap that richard wolff sells
Thank you ,Professor Wolff, for another great information session!!!
You are a powerless victim of everything...and this uplifting message
will be repeated every week until the messenger dies or you do.
Thanks!
paying a socialist with capitalism. oh the irony.
if richard was a real socialist, he wouldn't accept this. but he is a hypocritical coward, so hell take it.
Even the smallest shareholders want a maximum return on the investment. Why would they not go along with the directors at the top who seek to do the same?
employees are also shareholders. richard conveniently leaves that out. LOL.
@@ronaldreagan-ik6hz Huh?
yeah. huh is what i would expect you would say. most people that follow richard wolff are ignorant beyond belief.
people like richard wolff completely ignore that millions of employees that work for those "evil corporations" are also themselves shareholders through stock programs. @@mjnyc8655
@@mjnyc8655employee stock purchase plan, stock options for vip, etc. anyone can be a shareholder
Dr. R. D. Wolff ;
" You put all these impacts together and this is so far from democracy. It's almost a bad joke ".
Sir., You are Shinning Bright :
Tks., much appreciative.
thomas sowell exposes richard wolff as a fraud
The oligarchy vs democracy
You mean communism 🤣
@@TacticalMayo Seen a "commie" under your bed lately? Man, that McCarthyite fairy tale dies hard!
Be well.
Are you really that dense? You looked at that and thought "that's communism"? That's capitalism... holy smokes, the world is impossible.@@TacticalMayo
@@Rockyzach88 you're a tankie so who cares.
wrong. we are a constitutional republic.
Propaganda in the private sector is called marketing and advertising. It’s only called propaganda when it’s done by the state.
"The goal of oppressors is to limit your imagination about what is possible without them, so you might never imagine more for yourself and the world you live in". - Ashley C. Ford.
go start your own business then.
Gee, "imagining more for yourself" is considered "greed" in the land of Wolff
and the rest of the Marxists.
Too bad they can't tell you how much is ENOUGH?????
Reagans policies in the 1980's saved america from the insanity of democrats policies of the 1970's. -- just like the insanity of the last 4 years.
Regardless of government inefficiency, and bad policies against capitalism, you have completely failed to make a case for Socialism.
Even your Messiah Richard wolff uses capitalism everyday to gain wealth for himself. LOL So even a devout socialist -- uses capitalism, not socialism to build his retirement.
OOOOFFFF. it hurts to admit failure huh? LOL @@Ad_Blocker_For_TH-cam
also, you fools that blame reagan for all kinds of shit and ignore the many good things he did -- after being handed a disaster by democrats is horribly dishonest.
but thats how the left operates -- on half truths. @@Ad_Blocker_For_TH-cam
Prof. Wolff.: How does, do socialists overcome the concentration of power at the top; where's an example with a big country, or group? The "people" is renaming the power at the top! "The people" name is advertising for the power at the top, that is for these same few who are running everything! How do we come out ahead here?
So you identified the problem very well how do we destroy the problem
This was excellent. I think a show explaining how feudalism actually worked would be very helpful. Most people have heard the term, but have no understanding of how it actually worked. The most we hear about it is fairytales about kings and queens. Episode much like this one about the corporation, but explaining the workings and various elements of feudalism and practice would be very enlightening. I watched the full lecture series on the French revolution on the great courses, and it made modern politics so much more clear in terms of the origins of left-wing and right wing in our modern democracies. and I don’t just mean a recap of what the Jacobin movement was I mean before that, what was feudalism the mindset of people, in terms of who they reported to who controlled the levers of power and the roles of different institutions in a society structured that way
Yeah feudalism was a real witch of an economic system,, seemingly built on a modified barter system,, exchanging subsistence work on whatever needed doing for security.... I don't think anyone living now can imagine feudal conditions,, the homeless maybe but living on the dregs of the capitalist system is a lot different from trying to scrape a basic living out of nature or people who didn't have much themselves... The idea of exchange or some sort of money evidently either survived through the last ice age,, or was invented post- ice age because although no one really knows how it started,, to me it seems likely that people would be more concerned about something warm to throw over themselves or some food that wasn't rotten or some water that could be drunk than collecting gold.... Point being,, it seemed that during the feudal or dark age after Krakatoa blew up in 536 that the capitalist system nearly disappeared, with superstition being substituted for a society built on the linear goals of scientific advancement...
the modern day oppressors are fools like richard wolff, not the political right.
who practiced authoritarianism during covid?
democrats.
Thank you Prof Wolff. I've said goodbye to the rat race and now educated myself on lessons like yours.
Heyyyy, I wanna say goodbye to the rat race too. I'm a software engineer and I hate it. What do you do?
I'm self teaching to get into blockchain engineering. Hope to work remote jobs and move abroad @@PearLock
Everyone has their own destiny. I am fullly retired from a lifetime of working last year. My occupational journey took me from interactive kiosks to marketing to medical equipment manufacture. It has been a long journey. Funny thing is I now clearly see the places where I've been more than when I was actually there.
@PearLock Your not alone, I hope this comes soon but in the mean time thank you for not becoming part of the problem. Hopefully as more and more people escape the programming our globalized culture has endured we can all say goodbye to the adversity.
if education leads to socialism, it was bad education
Thank you professor, Greetings from Mexico, as always your analyzes are very didactic and easy to digest for hard-headed people like mine.
But as with most things, they have no nutritional value.
Look up Thomas Sowell. then compare Wolff. wolff is a fool.
Thank you Professor. This tackles my question about Power Analysis directly. I appreciate your work.
Those who have POWER do not waste their time attempting to corrupt
those who do not.
@@jgalt308I would love to believe this, too. But it just isn't so. Thanks to _Citizen's United_ and its lesser known precedents, dark moneys, corporate-backed PACs, etc. easily pay for political campaigns of seriously vetted corruptible aspirants. They're vetted for their corruptibility, I would assume--their "yes man" proclivities, or their susceptibility to blackmail... Many may have barely legal or morally offensive "habits" and can be bought. After all, we _all_ "have a price." Campaign sponsors know this' they pick out the self-selected "power-seekers" and take it from there.
All of us arrive bestowed with a simian brain which among other impulses contains the _primacy_ (or "king-of-the-hill") impulse. Many of us learn to live with it or arrive with a weak version of it. Or, else it never got reinforced nor triggered.
Look at poor tfg, his narcissism coupled with this impulse has transformed him into an obnoxious laughing stock. That said some badly "battered-down-by-capitalism" folks perceive him as a messiah who will "empty the swamp" and march them to a mythical paradise where they can bask in the light and/or shadow of this "leader." Of such stuff are cults "made"...
But the poor and mediocre who seek power over the rest of us run to corporate sponsors, sell their souls and receive campaign funds. Once in office the successful candidates become handmaidens to their souless, immortal person sponsors. Oh, you'll see a well-publicized sop or two thrown to the serfs waiting for scraps that fall from the table. The problem begins (and that's here and now, _today_ , post-2008) when the serf population increases and those scraps don't go very far. Isn't trickle-down, finance capitalism grand?
Be well.
@@jgalt308 sounds ominous but that sentence doesn't mean anything. Have you heard of rape?
@@accordionthief I've even heard of gang rape. What's your point?
And the meaning should be quite clear to those who are confused about who
actually has power...but since you have claimed it doesn't, feel free to
enlighten us as to why it does not?
@@jgalt308 those who have power do not waste their time
Valeu!
what hypocrisy. a socialist taking a payment created by capitalism. insane.
What do we mean exactly by "freedom"? The freedom to exploit others and be greedy... That's what it is before anything else...
If you understand the meaning of the word greedy, please share with us
the meaning of "enough"?
You will note that in the US "freedom" is always used in political discourse, never _equality_ which is authentic freedom! Our corporate overlords understand this and control the narrative, always excluding this seditious, _liberating_ concept...
Be well.
Capitalism is based on freedom not exploitation.
oh my god. how are you this stupid? Everything under capitalism is based on freedom of choice.
jesus.
@@jgalt308 oh, you are trying to be philosophical here. No, you can't make everyone happy, that's for sure. But you can change the way society works and remove at least the major failures it contains. The video names multiple. Pretending that you do not see them does not make you look smart.
@@smelyzzajko No, I asked a question that you did not answer...
does that mean you don't know the meaning of "greedy"?
Here's another one...
What's the difference between "the exploitation of " and "the use of ".
"The Master said....If names are not correct, language is not in accordance with the truth of things. If language is not in accordance with the truth of things, affairs cannot be carried on to success........Therefor a superior man considers it necessary that the names he uses may be spoken appropriately. What the superior man requires, is just that in his words, there may be nothing incorrect."
"The Master said,.....Without knowing the force of words, it is impossible to know men."
Confucius 551 -479 B.C.
The quality of jobs have gone down over the past 50 years.
[1970s to 1980s] full time jobs with benefits.
[1990s to 2013] Part time jobs without benefits
[2013 to present] Gig jobs that pay less than minimum wage, and no benefits.
In simple terms, my grandparent had a career, my parent had a job, now today I have a gig.
@@paulsherman51 From 2024 to the future, most people won't have jobs. AI and robots with AI brains will do most jobs humans do. Sure, there will be some humans that have jobs, but few people will be able to do the job of many. For example, one programmer will be able to do the job of 10 to 20 people with the help of AI. Robots will be able to do service sector jobs, like making fast food, etc.
@@Ace1000ks Question: What is the proper or healthy *rate* of change of techology? We all know innovation is inevitable. Some recent examples are the digital watch (kids don't learn to tell time); the velcro shoe 'lace' (kids don't learn to tie laces; the word processor; the spelling checker (we forget how to use a dictionary);
earlier examples are the horse-less carriage; and the steam engine.
I might guess it depends on rate of absorption among all aspects of society, like a paper towel or a sponge being effective to mop up a water spill on the table.
Is it better to be a technocrat or a luddite?
The trick, I think, is everyone must interact together to figure out how to work things out and make things better, in a wholesome sense.
@@paulsherman51 I think these changes are going to move faster than most people can adjust to it. Most people are going to be thrown in the deep end of the pool, so they will have to learn how to swim or they will drown. This is the world we live in.
@@paulsherman51 I don't know how to make a bow and arrow and I don't feel unhealthy. But if necessary, I could learn. Let's reformulate our questions. How does cro-magnon man, or our latter-day version, Medieval superstitious homo sapien acquire a humanistic morality that helps him learn to control nuclear weapons? That helps him realize that such species-and-planet-destroying tools serve no purpose and can be left behind? That helps him realize that, indeed, each one of us is created with _equal rights_ to water, food, shelter, health and education, that these are _not_ "privileges" reserved for the lucky or coercive few? We must learn to validate ourselves and others, to see our humanity reflected in the eyes of strangers who will cease to be so once we try...
Be well.
I once had a guy explain to me how he owned 100 Shares in Apple or whatever and he was definitely going to vote on the next Shareholders Meeting. I just looked at him incredulously and thought, I need a new lunch table.
Elon Musk controls 13% of the voting shares of Tesla. Warren Buffet is so greedy running
Berkshire Hathaway that he pays himself less than his secretary, and the company
issues no dividends.
Wow, this is one of Richard Wolff's best lectures yet! Clear, brutally truthful, audacious.
Has anyone heard of Merz Institute? I'm wondering if they are on the right track to find a way to motivate the world to actually sit down and cooperate with each other in order to fix our economic and ecological problems before it's too late.
The Guardian recently published an article on Merz Institute's research on the "behavioral crisis" driving "ecological overshoot" which is killing our planet. Marketing and growth economics are identified as key drivers of this global sociopathic behavior. The paper says, the world knows we are consuming faster than the Earth can replace resources, but our evolution as a society has travelled so far down a maladaptive route that we find it impossible (or nearly impossible!) to change course and save ourselves. They argue research should be focused on the behavioral sciences now, because that is where the crisis is -- not in the physical sciences, which are advanced enough that we know the multitude of technological, biophysical and chemical corrections that need to be taken. We just can't figure out how to get there from a human, anthropological, or sociological point of view.
Yes, this really is one of Rick's best. It is timeless.
So which of those irreplaceable resources are YOU consuming and why
haven't you stopped?
Who have you sat down to cooperate with...and what is it that you are cooperating about?
What is our Professor doing in this regard?
Other than just talking about it?
you think a socialist is going to be truthful about capitalism? you think the guardian is honest unbiased news source?
dude. you fill your head with garbage -- thus your comments are garbage.
Board of directors are even more sinister than CEOs since they ultimately decide on CEOs and initiate industry and economy wide policies since so many of them are themselves on so many other boards in addition to often being part of the capital funding entities whose other chief stakeholders are on so many other boards. It's them who decide things on mass layofffs across all companies they are on boards for in addition to things like returning to office etc. They pressure masses of companies to do their biddings.
Cooperative system is best.
Truth to power. Great critique professor Wolff. Thank you
using the word truth and wolff in the same sentence is the definition of ignorance.
0:50 Throughout human history, different economic systems have had central institutions responsible for the production of goods and services.
- SLAVERY, where core productive units are SLAVE PLANTATIONS
- FEUDALISM, where core productive units are FEUDAL MANORS
- CAPITALISM, where core productive units are CORPORATIONS
The organization of production within corporations could be considered fundamentally undemocratic, unjust, and unnecessary (just as the human race found the slave plantation and the feudal manner to be).
13:40 Prof. Wolff mentioned globalization and technological progress as two things that are used as excuses for the way things are currently. Basically a synonym of technological progress, I hear the word 'innovation' used a lot as a scapegoat for the current order. It usually goes like this, "But what about innovation? We won't get all the cool gadgets without innovation. So, therefore since this is the only system that can bring you the iPhone." Another one is the idea of motivation and incentive. It usually goes something like, "But, what will motivate or incentivize people to work or do things? Capitalism provides those two things." What they conveniently leave out is the unspoken part where everyone everywhere is essentially threatened with homelessness or starvation every day of their lives unless they submit, among other things.
Submit to what? Only the government has a monopoly on force.
At some point, you have to connect the dots to arrive at your conclusion
and you seem to have skipped that part.
One might ask, what is the motivation that inspires innovation?
Then one should ask, in such cases where one's needs are met or
where the expectation exists that they will be met, what would inspire
innovation then?
So, you prefer your marxist fantasy world to reality.
We live in a broken country with a broken system.
Aren't you free to leave?
@@jgalt308 U first pilgrim.
But I know what's broken, how to avoid becoming a victim
and certainly don't see a better alternative.
What's your excuse?
and what is that "broken system" exactly?
so you think socialism is the answer????
LOL
Small businesses (under 500 employees) employ 46.4% of all U.S. employees. In the last 25 years small businesses have created 2/3rds of all new jobs in this country. Foreigners own 40% of U.S. stocks so it would seem impossible for the top 10% of our wealthiest to own 80%. But let's don't let facts get in the way of a good Marxist rant.
Would love to see the source of this data. That said, one reality we've witnessed lately is that oligarchs and the billionaire brethren essentially exist as stateless beings or _purchase_ "citizenship" for tax advantages. "Foreigner." What's a _foreigner_ to shareholder owned corporations? Recall, as the joke goes, they "don't need to vote; they have lobbyists..."
Be well.
Don't worry, that never happens here.
Professor Wolff schools Lex Fridman on economics and how he would run a business, or how he thinks business should work, or.....?????
The following was an excerpt from a three-hour interview with Lex where Wolff offers the following example of his understanding of all of the above.
An employer hires 100 employees as labor to produce "whatever", for $100 and then spends another $100 on the materials the production requires. From this, he receives a $20 profit and repeats the process.
He then purchases a machine that replaces 50% of his workforce...so he does. Wolff disapproves of this as labor is always exploited ( except in the case of Mr and Mrs Smith who agree to sell their business to their employees ) and he suggests that all the employees should be retained at the same rate of pay, while only working half the hours. ( because labor is 100% responsible for what is being produced. ) This is similar to "other examples" he has offered in his attempt to sell the "democratically run work place where the "employees" decide what to produce, when to produce, and how to produce as well as what to do with the profits."
Now this example is completely flawed and so detached from reality that it is impossible to take it seriously...except on this site.
So I leave it to YOU, to decide whether to attempt to defend this idea or see how many flaws you can find pointing out a singular one that as an "existing business" all that what to produce stuff has already been determined, as it would be for any "existing business".
Will those who have been "brilliantly educated" by the Professor respond with anything intelligently relevant or substantive? We shall see.
He is lying and peddling the debunked labor theory of value and Marxist exploitation theory. This has been proven wrong by Menger and Bohm Bawerk over a century ago.
I couldn't get past the many flaws in your comment.
@@kevinschmidt2210so that is a no from you since you aren’t capable of bringing in anything substantive
The title of this excerpt BTW was "Why Capitalism Fails"...which is as absurd as the example
given...nor is there any evidence that it has, since in those countries that have been offered by
Wolff as supposed evidence are no longer in the main capitalistic...although one should not be surprised,
since if one doesn't know what capitalism is...the claim of its demise is greatly exaggerated.
Go play with rocks
The sad part are the people that actually buy you BS, sir.
This is a free site...the B.S. is FREE!!!!
He only wishes people would buy it.
exactly
How does it feel living in a country where 6% are living in trailer parks?
You don't even have the right to vote. Lobbyism gives them control even outside of the time you sell too those corporations.
Try selling unpasteurized milk and feel your democracy in your prison cell.
At some point people just stopped looking for different concepts to manage wealth and power, while those that existed became exploitable, communism and capitalism.
This one is fire.
Former Yugoslavia had experiment with democratized business entities, it was called Workers' Self Management. In some cases, it was functioning as intended, but in most cases, cleaning lady had the equal vote as engineer or economist, leading to decisions not made with business logic in mind. We all know how it ended, unfortunately.
It ended with economic sanctions and bombing by NATO forces. Did the cleaning lady vote for any of those, by any chance?
@@vebdaklu No, that came later, economy collapsed before the country fell appart.
@@vihornis no economy collapsed. Eastern block lost cold war, because it did not own 3/4 of the world to extract resources for that war and exhausted itself on military spending. Yugoslavia worked very well. Much much much better than USA.
And by the way, you forgot to explain how many cleaning ladies a corporation has and even then why they are not humans.
@@smelyzzajko 1. Yugoslavia was not in Eastern block. 2. It did not "work very well", only at that time influx of cash from the west made it not visible to common people. 3. None said that cleaning ladies are not humans, you are twisting my words, only in workers boards all workers had the same voting power, that was the idea of workers' self management utopia. Cleaning lady was a metaphor.
Since when can u compare Corporations to the slave plantations ? These Corporations have provided good jobs to thousands of people Democracy is a political system and does not apply in the Capitalist system Have you got anything against rich People like Elon Musk Who have provided thousands of jobs with good wages Companies are run by people who have the expertise and are of course well paid because the success of the company depends on them
Elon Musk isn't an engineer, yet he operates engineering businesses. So, no, companies aren't run by people with expertise.
Also, how can you say "thousands of good jobs" and think that is a good thing? You realise there are hundreds of millions, or even billions of employed people, right? How can you say "only a few thosand of them have good jobs, so that system is perfect"? 😂
@@vebdaklu and he only owns 13% of the stock...
and he didn't say that, you did.
But he started with a question...which you didn't answer and probably won't.
You don't need to be an engineer to run an engineering business In Capitalism all you need is the Capital Just like Elon Musk is not a scientist but he is also in the Space Industry Do you expect him to provide work for Al l the billions of unemployed in the world?
It is a dishonest comparison that he uses to peddle his Marxist ideology
Thank you for being a great teacher.
What is he teaching?
@@jgalt308how not to be sheeple like you
Excellent video as usual!!!!
What did you like best, the special effects or the moving sound track????
only a fool would use the words Excellent as usual when referring to a socialist coward like Richard Wolff. LOL
It is the coropations of long time ago rich men desided to have a democracy so it is a coropation democary of the u s a 😂😂😂😂
The most abusive system devised by the devil.
Living in the U S is like living in h-e-l-l.
awesome!!!!!!
socialism is never awesome. lol
I read somewhere that when V.I. Lenin had to build a government after overthrowing the Czars, he chose the corporation as his model because he recognized that the corporate governing structure was the most effective mechanism for establishing centralized control.
If you visit the requirements for the filing of a "certificate of incorporation" the
officers listed are the following...president, vice president, treasurer, and secretary.
So your point is? That government is the most effective means of governing?
Notice -- richard never says HOW he plans on making every business a coop? He wants it mandated through government. LOL
@@ronaldreagan-ik6hz Those educated by Wolff don't notice much...in fact
it is a mandatory requirement for those who are regular followers.
Wolff doesnt educate anyone, nor do progressives. its all indoctrination. none of these ideas are based on facts or logic. @@jgalt308
@@jgalt308 Most of the "problems" with capitalism are because of government.
its progressive policies mostly that over tax, over regulate, build fat government and entitlements.
Conservatives build better economies, when coupled with reasonable laws and regulations.
What part does morality play into this?
There's no morality in capitalism. It is a top/down winner 🏆 take all, no matter how much they already have, system. Few winners and many losers. 😶
What is the source of the "morality" you are alluding to?
Capitalist freedom is moral. socialst control is immoral
@@ronaldreagan-ik6hz "Capitalist freedom"--a great oxymoron. Thanks for the laugh! Please re-read your Maslow and his hierarchy (pyramid) of existential -_-needs_. Capitalism fails from the very base, as it's an ideology that justifies _privatizing-_- the basics. To meet their biological needs the typical individual living under capitalism has to -_-indenture-_- themself. And whomever forces them into such degrading status is by definition inhumane and -_-immoral_. I take it you're not familiar with the story of the infamous capitalist Thomas Inkle and Yarico, the native who saved his miserable life (Richard Ligon's _True and Exact History of the Island of Barbados-_- , 1657-- retold in Steele's "Spectator," number 11). That's understandable, not a reassuring one in the capitalist "canon"...
I understand that self-delusion is big in the human brain, please allow yourself a day or two in self-examination. .
Be well.
en.wikipedia.org/wiki/Abraham_Maslow#Hierarchy_of_Needs
@@alphaomega1351exactly the opposite. Socialism is top down. Capitalism is moral.
You're spot on
Socialism is never spot on.
Out, OUT...damn SPOT!!!!
i keep reaching for the thumbs up button, but it's already pressed!
What is the ratio of profit to wages bill of the Microsoft Corporation ?
microsoft has created about 15,000 millionaires out of employees.
Employees get stock in a company they never started.
and you idiots only follow fools like Richard wolff?
How sad.
corporations are undemocratic, but that is trivial, a consequence of the fundamental structure of the nation. almost every nation is an oligarchy, ruled by people who manage the nation as a whole. they may be elected, or selected, or born to the oligarchy., because their ancestors did the fighting to establish the society.
corporations are specialized, commercial oligarchies, focused on an economic goal. they are not a poliical organization, but may try to influence politicians, to promote business. mussolini coined the word 'fascism' to decribe a society of this sort. usa is a fascist society, but too vain to use a foreign label.
the fundamental distinction of human society, is the answer to the question, ''who rules?'
if one, then monarchy [ and tyranny, , or dictatorship ]
if a few, oligarchy
if all the citizens, then democracy.
that last is popular. so popular that many societies claim to be democracy, to discourage people from the effort of actually getting democracy. usa is one of these societies. you'd think people would catch on, but as long as you have enough to eat, you submit.
democracy happened in athens, because the men who rowed the navy ships were the key element of athens' prosperity. their society had built-in military unions, of the lowet ecoomic and social position, but most numerous part, by far, of the military establishment. they could and did, move the navy, and stop it..
the swiss had a similar experience, which led to a proto-democracy still in use. they are the only society entitled to call themselves democratic.
"10 percent own 80 percent" - a clear explanation of what needs to be fixed (in varying degrees around the world) to build a better world.
Too many people convince themselves to hate the rich rather than study how to become one. Sad.
richard wolff is such a fool.
@@ronaldreagan-ik6hzAre you rich yourself? Capitalism actually isn't that sustainable (not just in environmental terms, but also wealth inequality, corruption,low wages and more of bad stuff like this) Capitalism actually accelerates itself, and when wealth inequality would become so severe, corruption so high, wages so low, what will people do? Protest,revolt or organise, and capitalism means exploitation, so i do passionately hate the rich and i actually don't want to be rich, because of bad stuff they cause, read about working co-ops and alternative economic models and about democratic socialism, and you will see yourself more enlightened.
Its funny that people like you follow idiots like Richard wolff then you go on and type the garbage you type, protest, vote like and idiot, etc.
Look at any professional sports league. Almost none of those players came from money or family dynasties of high achievement. They earn their spot through merit and achievement of great heights. That’s how capitalism works.
And the best atheletes get paid the most-shocker. And the atheletes that party hard, get into legal trouble, don’t stay in shape in the off season, get pushed out by the more diligent players - again, just like capitalism.
@@EnvironmentalAvocado777
Capitalism is the polar opposite of exploitation. To even suggest that the freedom in Capitalism is exploitative is the most uninformed, idiotic comment anyone could possibly make. That’s just false, 100% false.
Wealth inequality is that you get when you have a free system like capitalism because not everyone is as smart or ambitious as everyone else. So the high achievers get rewarded with more money, and the low achievers get rewarded with low opportunities.
My god dude. How are you this stupid? You need to look up two things. 1) the pareto principle. 2) Thomas Sowell on income inequality. Good luck man.
@@EnvironmentalAvocado777
well you better get saving then huh?
and in Britain we are screwed
Thank you for the reality check. It seems most people live to work. India , in the ,1940s awoke and realize the were nothing more than slave to their overlords, The British Corporation. Most everyone stopped working until Britian acknowledged the concerns of the masses of India. Now days, mostly in Westernized Countries, the Corporations own most of the financial assets. Now, they are hell bent in owning private property of the average person. Many people are starting to wake up to the fact that working for Corpations is a scam, realizing these Multinational Corporations care less about is good and just for a community. It is all sbou one thing money and nothing else. I am not sure how humanity will fix the current situation. But if history is an indicator, humanity will shed the system, as they did with Feudalism and the self appointed elites in 1789 France
Feudalism ended in the 15th century...and the revolution of 1789 was followed by
Emperor Napoleon, Napoleon II, Louis the XVIII, Charles X, Louis-Phillipe,
Louis Napolean Bonaparte, and Napoleon III.
Your grasp of "reality" seems a bit tenuous.
drama and lies.
Communism and socialism are not democratic.
It was Paul Sweezy who famously said, "socialism is not socialism unless it is fully democratic. And if it is not fully democratic, it needs to be called something else." My suggestion for that 'something else' is "centralism".
@@paulsherman51 communism and socialism are not democratic in any way, shape or form. But unbridled capitalism where Elite's are doing what they are doing is also not democracy but a plutocracy.
@@TacticalMayoI wonder, if corporations were given complete tax immunity; State and Federal, for establishing and maintaining an all-worker Board, with one or more (preferrably three) Board members from each major division in the company, fairly selected among vote of each and every full-time worker, would it work and be sucvessful?
Punishing and penalizong bad behavior always creates animosity and brings resistance and conflict, if not being terribly slow.
Rewarding good behavior does just the opposite, and faster, too.
Once one company digs in, others are sure to follow.
@@paulsherman51which is nothing but pure idiotic cope
So you admit that your advertising of the democratic co-op is a lie?
there are a lot of democratic co-ops out there.
Wolff made a score research on Noam Chomsky :p Good!
The more i listen to richard wolf the more i like capitalism.
Sr. Wolf, será posible que haga un programa que explique cómo es que Argentina se dolarizará cuando la economía de su país se debe 34 trillones de dólares y qué es lo que puede pasarle? Muchas gracias.
Preguntele tambien al professor Michael Hudson ( _Superimperialism_ ) por una presentacion. Estos dos maestros son autenticas supernovas en el firmamento geopolitico financiero. Para empezar, los oligarcas se han adueñado del pais y su banca. Estos determinan el valor de la moneda con el fin de controlar el valor adquisitivo del sueldo del obrador. Inflacion _planificada_ .
Arriba y adelante!
Imagine, pointing the blame at fictional entities. It's the people, and bad people exist within each social/economic class. We have an existential crisis when it's rich people, but we act as if other undesirables (i.e. criminals, prostitutes, drug lords) are just a fact of life. Corporations are people before anything else.
Thanks for content
Just read em some sheldon wolin... economics has bested democracy.
Excellent broadcast. Even better topic. Helping the population realize the false reality that has been fed to us all, beginning in our infancy. The truth has a karma just like a lie has its own karma. Feed the people the truth and they will live in truth. Feed them the lie and they will live in the lie. Let the light shine through the darkness of the ignorant mind. Be blessed brothers and sisters and keep to the truth. Change begins with one. You are that one. We are that one. 🙏
no one is more ignorant that progressives and socialists. LOL
The system won't change unless slaves are stop dreaming their self in slave owner.
Please, don't let this be the only place you go to learn how a corporation is structured. He leaves out so much of why the structures are what they are, which makes it difficult to understand solutions to corporate malfeasance and inefficiency. And be aware that often (but not always) shareholders, boards, and executives interact differently depending on the size of the corporation.
Not to mention have corporations have weaponized this recent Supreme Court majority (Please, please read _Citizens United_ ). Quite a coup!
Be well.
If people here were interested in how things work or how they came to be
they wouldn't be here in the first place.
@@jgalt308 How they work we see every day. How they came to be is obvious - by a very long history of ad-hoc random chaotic updates of power-play that were most of the times motivated by selfish reasons of individuals to increase their wealth and power, without considering interests of the society.
@@smelyzzajko If it is "obvious" then the history of corporations and their
evolution in the U.S. should be easily explained and take far less time than Wolff
spent on this video which explained nothing.
the society consists of rich and poor-- and middle. nearly everyone floats among the categories throughout their lives.
no one magically gets rich or poss. its all based on effort and responsibility. @@smelyzzajko
Thank you for your insights
Why should co operations be democratic whilst their principal goal is to acquire maximum profit and dredging off competition. When the dredging doesn't work they merger, The accusation thrown to these entities is not fair since actions or reaction are natural occurrence given the triangle setting of co operation government and the public, To curb unfairness or undemocratic practice in capitalist democratically system is impossible but the signs it is going to implode are evident,
So. True as usual
If the "truth" sets you free... what use is this one...and how do you
know it is true?
socialism? true? LOL
I just wish Professor Wolfe trully understood MMT and could get out of his Harvard indoctrinated thinking.
Do you believe in MAGIC?
@@jgalt308 Is "Not Knowing is Part of the Fun" your Community College Motto? 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
@@bargdaffy1535 Since you now have "magical money" what purpose
does understanding MMT have?
Even Marx knew what money was...why don't you?
Greed kills. Corporatism kills.
Dr. Wolf You've pointed out our country is not really a Democracy and the top 1% control all the corporation. What is your solution ? I would to see a video on that. I do really enjoy your videos.
yeah. its not a democracy. its a constitutional republic LOL
@@ronaldreagan-ik6hz Seems everybody forgot the Pledge of Allegiance
repeated every day for 12 years? including the "with liberty and justice for all" part.
as well as this warning...
"Government is not reason, it is not eloquence, it is force; like fire, a troublesome servant
and a fearful master. Never for a moment should it be left to irresponsible action."
coincidental with the founding of the said republic.
Capitalism is he most successful system on earth. the usa and the constitutional replublic has been a positive force in the world despite the failures of government. @@jgalt308
@ronaldreagan-ik6hz Republic - Democracy, not that big of a difference Mr. Noun police. Does it make you feel good about yourself correcting everyone Ronald Mcdonald.
@jgalt308 I remember singing pledge of alliance too although I found it wierd thing to do in Germany where I was born they didn't sing chants of loyalty to the government. Hitler made childern do that in the third Reich though.
Thank You Professor Wolff...! a Great Explanation 😊 👍 -70SomethingGuy
of what?
Good explainer.
of what?
Thank you for the video, always food for thought. I wish people would eat a little more
Best introduction to corporations for anyone.
people work for corporations freely.
Great Presentation, thank you Prof. Wolff!
only the left is dumb enough to follow the suggestions of a socialist coward like wolff -- who uses capitalism for his own gain. puke.
Thanks DaW!
Sharing will save the world.
Thank you for sharing.
capitalism has saved the world from socialism.
you poor fool
Corporations are just like plantations matter of fact most institutions have this same structure. They exist for the exploration of labor and resources thats it and thats all thats how the nation was constructed. You would have to dismantle the entire system for anything to change.
So what is the difference between "the exploitation of" and "the use of"?
Wrong. people willingly and freely apply for and work at corporations.
@@jgalt308what a semantics guy. Almost every comment with you two 😂.
@@animeisballing1 and you would prefer...?
@@ronaldreagan-ik6hz😂😂😂😂😂
SPOKEN WITH “PURE FUCKIN BRILLIANCE “!!!!
Blinded by the light...
putting the word brilliance and socialism in the same universe is pure stupidity.
@@ronaldreagan-ik6hz THATS BECAUSE YOUR A CAPITALIST I AM NOT…!
richard wolff is a fucking hypocrite as he uses capitalism to sell books, clicks, speaking fees, professor salary. so so much for a hypocrite socialist huh?
being anti-capitalist is would make anyone a complete fool, given there is no better system on earth that provides more freedom and prosperity.
my god dude. how are you this stupid?@@paulyayala2645
@@ronaldreagan-ik6hz😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Land of freedom has as much freedom as Greenland has greenery.
It's insane that Corporations (AKA fictional legal entities) have been given more "rights" and "benefits" than actual human beings. Lawmakers make laws protecting these organizations at the expense of living human beings.... and trillions of animals.
fictional legal enterprises? LOL. how are you that stupid?
no one protects the corporate elites more then the political left.
So how do I get freedom?
Avoid debt as much as possible. That's how they enslave you. 😶
sure as hell not through socialism. So capitalism it is. lol
Thanks professor.
What about the concept of preference shares, how do its fit in share-holders democracy?
You mean Wolff didn't cover that in his brilliant, educational lecture?
@@jgalt308 no, the video was not about the unimportant details on how capitalists rob everyone. It was brilliant, because it focused on the core of the topic.
@@smelyzzajko What was the core of the topic?
@@jgalt308 watch again, if you did not get it.
richard is too stupid to understand that.
Very nice 👍 !!
It's a strange conclusion to say, "it's not the fault of the advertisers." It sure is. To paraphrase Buffy Sainte Marie's "Universal Soldier"-- without them all this conning/selling can't go on. There's blame for the corporations, but there's blame for their underlings who choose to carry out their dirty deeds too.
you realize that employees -- freely work for corporations? LOL do much for the oppression narrative.
Corporations at least offer the economy a little stability.
Sana all PILIPINO politicians know what Mr. Richard Wolff is talking about.
Exactly !! I agree 👍 !! 😮
An interesting side note: at least some of the members of a corporate board are also officers of that corporation. Other members are often past or present CEOs of other corporations.
Mutual funds, which often include pension investments, are often major share holders in these corporations. Although there are corporations where a billionaire owns the majority of the shares, such does not seem to be typical.
Thanks richard and D@W