in china. one only need to pay 800 dollars a year for education. even if you still can't afford it, the government gave you a loan with zero interest for about eight years
Still, why are none of you discussing solutions, what the hell is wrong with you people?! A Nation's future should never hinge on the proclivities of any single person. Voters on both sides are exactly the same. Both turn into triggered name calling fascists whenever someone challenges their beliefs and both accuse anyone who doesn't parrot their assigned talking points of supporting the other party. Thus the supporters of both parties have hijacked and sold out the rest of humanity for the sake of their own egos and lack of imagination. And this is how they've controlled us from the dawn of the 20th century, where they pit us against each other, seed the debate with misinformation, a little populism, some catchy epithets, and go about their plunder completely unopposed. All representatives will always be subject to influence from monetary interests, blackmail, or assassination. The solution is a velvet revolution to install a Scaled Direct Democracy without representatives and politicians Citizen initiated referendums with thresholds and a social contract using Blockchain technology means communities can vote for their own policies without politicians. *Thorium energy renders their global oil monopoly obsolete* *#VelvetRevolution* *#ScaledDirectDemocracy* *ThoriumEnergy* Thorium energy can process both nuclear and toxic waste as well as perform salt water desalination, carbon sequestration, and synthetic fuel production/ electricity for road/rail transport energyfromthorium.com/ "The thorium molten salt power plant can produce clean energy cheaper than coal, which could be reliable energy system toward a low-carbon economy," PAL said. www.reuters.com/article/us-indonesia-nuclearpower-idUSKCN1UD0D0 If the profits from American labour were shared equally, as they are with Corporate Shareholders, every household would receive $700k a year. If we got even a fraction of that amount we would have more than enough to fund education, healthcare and infrastructure for everybody. 52% of all Greenhouse gases come from methane produced by Beef farming, which is 90% subsidised. Ending Beef Communism and embracing Hemp as a moonshot technology alongside Kelp farming for use in packaging, construction, and manufacturing provides an alternative means for land rehabilitation, food production, and industrial oils, as well as medicines, insulation, and clothing. It would also be conducive for there to be an independent public authority drawing from volunteers to act as advocates for the public interest, with the authority to both observe police and govt interactions with the public, and prosecute bad actors in our own courts. This would ensure law enforcement and government agencies are held to a high standard of etiquette and ethical behaviour for everyone, regardless of their creed, color, or economic bracket.
A Nation's future should never hinge on the proclivities of any single person. Voters on both sides are exactly the same. Both turn into triggered name calling fascists whenever someone challenges their beliefs and both accuse anyone who doesn't parrot their assigned talking points of supporting the other party. Thus the supporters of both parties have hijacked and sold out the rest of humanity for the sake of their own egos and lack of imagination. And this is how they've controlled us from the dawn of the 20th century, where they pit us against each other, seed the debate with misinformation, a little populism, some catchy epithets, and go about their plunder completely unopposed. All representatives will always be subject to influence from monetary interests, blackmail, or assassination. The solution is a velvet revolution to install a Scaled Direct Democracy without representatives and politicians Citizen initiated referendums with thresholds and a social contract using Blockchain technology means communities can vote for their own policies without politicians. *Thorium energy renders their global oil monopoly obsolete* *#VelvetRevolution* *#ScaledDirectDemocracy* *ThoriumEnergy* Thorium energy can process both nuclear and toxic waste as well as perform salt water desalination, carbon sequestration, and synthetic fuel production/ electricity for road/rail transport energyfromthorium.com/ "The thorium molten salt power plant can produce clean energy cheaper than coal, which could be reliable energy system toward a low-carbon economy," PAL said. www.reuters.com/article/us-indonesia-nuclearpower-idUSKCN1UD0D0 If the profits from American labour were shared equally, as they are with Corporate Shareholders, every household would receive $700k a year. If we got even a fraction of that amount we would have more than enough to fund education, healthcare and infrastructure for everybody. 52% of all Greenhouse gases come from methane produced by Beef farming, which is 90% subsidised. Ending Beef Communism and embracing Hemp as a moonshot technology alongside Kelp farming for use in packaging, construction, and manufacturing provides an alternative means for land rehabilitation, food production, and industrial oils, as well as medicines, insulation, and clothing. It would also be conducive for there to be an independent public authority drawing from volunteers to act as advocates for the public interest, with the authority to both observe police and govt interactions with the public, and prosecute bad actors in our own courts. This would ensure law enforcement and government agencies are held to a high standard of etiquette and ethical behaviour for everyone, regardless of their creed, color, or economic bracket.
@Benjamin Esterberg I know the billionaire Trump said he was going to bring manufacturing back to the United States but isn't he still making his maga hats in China?
@@Rodrifuuu "Source" was my eyes and ears. I listen to every one of Wolff's weekly "Economic Update" posts, and most of his intermediate ones. I didn't record the date of the specific article where he said that. You can review them yourself if you need the specific date.
"The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated communist, but people for whom the distinction between fact and fiction . . . no longer exists." -- Hannah Arendt. The insistence of Capitalism that unlimited growth is possible on a finite planet is exactly that kind of fiction. Capitalism contains the seeds of totalitarianism.
Hannah Arendt was a con artist. Anyone who equates Communists with Nazis, Fascists, or other authoritarian "strong men," is someone serving the interests of the ruling elite.
@@itzenormous Aurhoritarian is authoritarian whatever its costume. Socialism has non-authoritarian forms and Soviet-style Communism wasn't one of them.
@s Nice -- and interestingly cogent --- analysis and I don't disagree. BUT, you'll have to forgive me. For, as a biologist, placing natural science over the human contrivance of economics. Logically, if we take off the blinders, Capitalism's most destructive totalitarian aspect is its failure to factor environmental impact into the costs of doing business. In the biosphere, everything else is reciprocity, give & take w/ controlling feedbacks. Aboriginal people got it; in contrast, feudalism evolving to capitalism took an authoritarian " gift-of-god" approach. The delusion that the planet/biosphere are there for our pleasure, at our disposal - biologically, nothing is further from the truth. That's the totalitarian aspect that's got a high likelihood of doing us in. [And it's not the earth that needs saving. Plenty of bacteria, fungi & other rapidly reproducing/adapting species would make it through even if we didn't.] Anyway, appreciate the discussion.
It does hurt. Makes me wonder why someone like Prof Wolff even bothers with the human race at this point. Seems like a failed experiment. I have to assume all the nukes will be launched before something like socialism happens
People need to read 2 books: Karl Marx's "Capital" and Vladimir Lenin's "Imperialism: The Highest Stage of Capitalism." It takes an astute and patient person to read and fully grasp these all-important texts though.
Corporations campaigned themselves that way, they are recognized as people by law, and the population is undereducated and the food supply tainted to further disadvantage them mentally and physically.
You just gave us a crash University course of the history of world economic systems and its failures. EXCELLENT . Your very good and I enjoy listening to you. Thank you
@@clarestucki5151 the system is capitalism the problem are caused by capitalism. You need to read Marx because everything he said about capitalism is now happening.
@@clarestucki5151 Capitalism leads to wealthy individuals wanting more, so they bribe politicians, and then it leads to Crony Capitalism. Crony capitalism provides for the corporations and strips away protections and assistance for the needy. It also erodes democracy because the system seeks to not be replaced when those on top have it so good. Control information, control workers (like waving healthcare over their heads), and create political apathy. We can do better than capitalism. Socialism is not anti-profit nor anti-competition.
@@ligmanewtons2523 The beauty of capitalism is, everybody who resents "wealthy individuals" can go into business for himself and try to become a 'wealthy individual' himself. Sorry to hear that you were unable to do so,
@@clarestucki5151 Not really, what about the trading marketing and banking system. This is part of the capitalist approach. Everything is up to be able to profit from at any cost. We cannot sustain that, on the only plant we all share. I also think that capitalism doesn't align with the human condition. Which thrives on collaboration not on 'dog-eat-dog'.
The only thing I'm thankful for technology is bringing a professor of economics right to your home, and not just any professor " The Professor Of Economics - Mr. Richard Wolff...... I might have more things I am thankful for, but this is what came to mind...
Thank you, Professor, for yet another in a long stream of intelligent, insightful, incisive, and highly informative, relevant broadcasts. I believe that every working American should be exposed to your videos and ideas, and that collectively, we would be better off for it. Keep up the great work.
Once again, Dr. Wolff shines the light and suddenly I find myself saying aha!! Such an excellent professor illustrates cause and effect brilliantly. I love his sense of irony and humor. I could watch this video over and over again. Thank you, Professor Wolff!
If we were not a nation of gullible non-critical thinkers, most of what we currently face would not exist...but we continue to vote against our own best interest and that of our friends, family, community and our country.
people at core have the similar potential the world over. If the people of the Anglo West seem like gullible non-critical thinkers, then it's because the political/economic/media system we inhabit shapes us to be that.
A Nation's future should never hinge on the proclivities of any single person. Voters on both sides are exactly the same. Both turn into triggered name calling fascists whenever someone challenges their beliefs and both accuse anyone who doesn't parrot their assigned talking points of supporting the other party. Thus the supporters of both parties have hijacked and sold out the rest of humanity for the sake of their own egos and lack of imagination. And this is how they've controlled us from the dawn of the 20th century, where they pit us against each other, seed the debate with misinformation, a little populism, some catchy epithets, and go about their plunder completely unopposed. All representatives will always be subject to influence from monetary interests, blackmail, or assassination. The solution is a velvet revolution to install a Scaled Direct Democracy without representatives and politicians Citizen initiated referendums with thresholds and a social contract using Blockchain technology means communities can vote for their own policies without politicians. *Thorium energy renders their global oil monopoly obsolete* *#VelvetRevolution* *#ScaledDirectDemocracy* *ThoriumEnergy* Thorium energy can process both nuclear and toxic waste as well as perform salt water desalination, carbon sequestration, and synthetic fuel production/ electricity for road/rail transport energyfromthorium.com/ "The thorium molten salt power plant can produce clean energy cheaper than coal, which could be reliable energy system toward a low-carbon economy," PAL said. www.reuters.com/article/us-indonesia-nuclearpower-idUSKCN1UD0D0 If the profits from American labour were shared equally, as they are with Corporate Shareholders, every household would receive $700k a year. If we got even a fraction of that amount we would have more than enough to fund education, healthcare and infrastructure for everybody. 52% of all Greenhouse gases come from methane produced by Beef farming, which is 90% subsidised. Ending Beef Communism and embracing Hemp as a moonshot technology alongside Kelp farming for use in packaging, construction, and manufacturing provides an alternative means for land rehabilitation, food production, and industrial oils, as well as medicines, insulation, and clothing. It would also be conducive for there to be an independent public authority drawing from volunteers to act as advocates for the public interest, with the authority to both observe police and govt interactions with the public, and prosecute bad actors in our own courts. This would ensure law enforcement and government agencies are held to a high standard of etiquette and ethical behaviour for everyone, regardless of their creed, color, or economic bracket.
To be fair, we are a nation that has been raised into a domination-model society that has indoctrinated us into believing life has only two choices: to be dominating or to be dominated. To be the abuser or be the abused. Life is based on fear and this hijacks our brains and severely limits our thinking. Our minds are now solely focused on minimizing fear and numbing ourselves to the psychological pain of abuse through our addictions. There is no room for "critical thinking" much less hope that we can make the world a better place. Even those claiming to show us a way out are indoctrinated by this limited model. The only way out is to change ourselves by challenging what we have been raised to believe and value. To change the way we think. Humans are not born evil. We are not born selfish and greedy. This is a lie fed to us to keep us indoctrinated into the domination model. We currently have societies (like the Nordic countries and even the Canadian province of Quebec) that show compassion and nurturing citizens leads to a stronger and more creative society. Not a weaker one as we have falsely been led to believe. Capitalism is an economic system based on the model of domination. It's time to finally go is here.
@R B If the government pays for its services without collecting taxes, the amount of currency in circulation goes up and up and up and you end up with hyperinflation. You have more dollars to compete with the amount of goods, and the money becomes worthless. Banknotes will end up being used to line the bottoms of hamster cages. This exists when you have a fiat currency system, that is, the central bank is the entity issuing the currency and it's not backed up by another currency or by gold. A lot of people think that taxes are levied to pay for government services. In the US, that is true for state taxes but it's not true for Federal taxes.
We should all turn everything we have or will ever have over to the Government like the people of Venezuela did. Now they have everything they will ever need, Government will provide, Government, Government, Government, that's the answer to every problem, we just need more Government like they have in Venezuela (and lets not forget North Korea too).
@@ginojones5857 I'm struggling to determine whether this is a parody of typical american fearmongering or if this is real and I spotted one in the wild
@s Wow, let me remind you this is a page where people are allowed to comment and express themselves, and yes even get personal. I feel no shame at all, I only feel sorry for you. Take care and stay safe.
You should have stopped with "unbelievable"...because the history related here is false, and while it is inciteful, it is not knowledge. You might try...A Distant Mirror by Barbara Tuchman
it's not about the governments. it's about the system of ownship. the ownship of important means of production. like educational resources, medical resources etc. like in China, 800 dollars a year for college education, you can get get a zero interest loan for eight years. socialism doesn't mean dictator. you can still vote for leads. market is a powerful tool, but in the us, the market is the state owner
Good man, clear and understandable language, deeply educated, authentic person, rare to find....Chomsky , Harris....in that line....hope people gonna wake up from the big nap.....most important podcast...one of the rare intellectuals who can narrate history so it makes sense.
I really wish Richard Wolff would run for president!! He's such an informer and teacher that makes everything simple to understand!! It's like an economics course for free!!
If you look closely at what's happening among businesses and imagine them as feudal lords, these mergers and supercorps that keep emerging as the system crumbles get really worrying. That while we push for a stronger state in the government that we vote for, the feudal lords we did not vote for are slowly consolidating their own power. Under capitalism, in many ways, most people live under essentially two government apparatuses, the first is the state, the second is their employer.
America's number one Professor . Instead of 21 thousands , I wish 21 millions were listening to him. Soon , Americans would start listening to people like R D Wolff.
Allow me to reply as a capitalist would as to why you can't afford being a patron: 1. You're lazy 2. You're not as smart as I am 3. You don't work as hard as I do 4. You depend on the government (refer to 1) 5. You're a communist/socialist (they are both the same right?) 6. You don't understand economics
@@BarrySlisk It also needs to regulate corporations to stop exploitation of people and the environment. The state has always been the guarantor for huge infrastructure projects, the railways and the roads etc was too risky for contractors and they would not exist today without state support.
To all of you listening to mr. Wolf. I hope you know that the total u.s. currency was 4.5 trillion at the beginning of February and is now at 7.1 trillion. That's a 41% decrease in the value of our dollar. The economic woes that we are facing are caused by shutting down the economy and doubling the currency. This is a Hallmark of socialism. for those who want a balanced point of view of capitalism and socialism I recommend watching Ayan Rand what is capitalism
I found this today, and... Phew! I couldn't find anyone else talking about our ignored economic crisis until today. So glad that at least *someone* is talking about this. Americans are fighting over the Presidency, while completely ignoring this dust ruffle economy.
Excellent lecture! You’re doing a wonderful job for the American people. I hope enough of the population gets the message. A thriving society needs universal healthcare and a decent Education for ALL of its citizens.
As a viewer from China lives in the UK, I’d say this speech sounds more communist than any of the Chinese Communist Party speech, or even makes the CCP feels like capitalism. TBH it don’t really matter to me communist or capitalism, and for the pandemic thing, East Asian countries generally doing better largely because they had experience with SARS. I don’t think it’s capitalism that makes the response to the pandemic so bad, but it was the people in the western world didn’t realise the problem until the shit hits the fan.
Always fascinating to hear an Americans idea of European history! Wolf ain't too far off, but the idea that we didn't have kings before the 14th century is a bit weird
@Dirk Knight you just described a capitalist also. Capitalism is absolutely the world's dominant ideology. It comes from liberalism, which comes from humanism, ya know what else comes from humanism? Socialism. It IS an ideology, exactly the same as socialism. And it has supremacy at its heart (free market, perpetual growth, small state.. the idea that production of capital is the ONLY thing required for the health and welfare of a nation, i.e. capital creation = jobs, which isn't going to be true much longer), just like socialism which says that ONLY society can achieve equality and welfare. Well you're both damn wrong! Supremacy IS NEVER the answer in a multidimensional system, of which, the human, the species, and the ecosystem, ALL are.
Thank you Prof. , even if sometimes it feels like you're speaking to the void. I hope, somehow, that people take these discussions and use it to change for the better.
Just a minor correction from a European. The manor was the house of the lord. The land the serfs, and later the farmers, worked on was called the estate. 'Estate' is usually used to mean something different in Modern English though, usually to refer to areas of housing for the poorest of the working class called council estates. Keep up the good work.
In the Great Depression of the 30s, 4.3 million Americans were displaced, 5% of the population. FDR told the elites, 'it's the new deal or revolution'. In 1945, at the end of WW 2, Europe had 11 million displaced people, roughly 2% of the 5oo million population. In 2021 America will have 30 million displaced people, roughly 9% of the 350 million population, just to give you some perspective of what your about to go thru.
And regarding the plagues. Let’s also consider the role of the church in disseminating hatred toward women and crazily toward cats. The superstitious pogrom against cats contributed greatly toward the spread of disease. Without cats to kill rats, the rats were everywhere.
I think this is why they have been trying so hard to keep that stock market up during this pandemic. If that goes down that will signal to the American people and the world that capitalism is failing.
Everybody agrees we need another massive govt stimulus to keep the scam going. The size of their entire yearly tax haul. But they just looked at the numbers and figured we don’t need that next injection till 2021. Inconsequential that evictions are happening and people are going thru intense winter pain and hardship in the meantime.
Actually, the stock market failing would be a sign that capitalism works, because things FAIL in capitalism. Attempting to prevent this failure simply compounds it... this is a gift from FDR and you have reached the final stage.
Change definitely is coming... you can feel it on the streets. Professor Wolff, you definitely have the grasp of history and economics to help shape what is to come and to enlighten those in the coming struggle to help them stay the course until the end. I hope that the person who will rouse the people off the couch and into the streets has you or someone like you to counsel them on economic matters.
The thing mr. Wolf is not telling us about is the choice the choice of a man to start his own business to start selling his own Goods under capitalism it is allowed not under Socialism or communism
The co-op is a socialist equivalent to enterprises. You get to produce your own things with your own ideas, and profit-based competition is washed away. The only difference is that everyone who works in the company gets a say in the company’s decisions.
3:22 - "Capitalism's worst night wear." Like those onesie pajamas with footies in them you wore as a kid, that would always build up static electricity when you walked.
Professor Wolff, I was taught in Civics that our constitution and The Federalist Papers define a republic not a democracy. Could you elaborate on what you mean by democracy?
Professor Wolff's summary of European history and geography is signifcantly flawed: 1. the Roman empire has not been "done away with" - it collapsed during the Barbarian Invasion. 2. kings existed basically ever since then, as new states were established by the new peoples that formed - the emergance of absolutism did not bring monarchs, it transformed existing kings into the single decision taker of the country thanks to professional armies and central administration 3. Both Portugal and Poland existed at that time and before and afterwards - true, there were no 'nation states' as there was no nationalism, but there respective kingdoms already existed and influenced the development of the ethnic groups that centuries later would be the basis of nationalism 4. Last but not least, Poland and Portugal differen indeed in their geographical position on the north-south axis; however, they are far mor distant on the east-west axis. ;-) Fun fact, despite these mistakes, the hypothsis that aboslutism was a reaction to the failrue of feudalism to cope with the plague is very intruiging and worth being investigated by historians if they haven't done so yet.
12:00: Okay, in the past I've wondered at the professor's lack of historical knowledge, but this is just so outrageous I'm puzzling at what the hell he's doing. That's not anywhere near what happened, what the hell. 1. Kingship stretches back into prehistory, it's not a post feudal invention. It existed in the Feudal era... 2. Robinhood is 100% ahistorical fabrication. The only thing he has to do with reality is that brigands existed. He's a mythical folk hero, Dr. Wolff might as well be talking about Hercules, Hippolyta, or Paul Bunyan. 3. The centralisation of power had nothing to do with the black death. The trend towards absolutism predated the black death, and finished long after the last episode. In fact, the end of the centralised Eastern Roman empire coincides with the end of Feudalism. 4. Absolutism (the form of government we're talking about) also stretches back into prehistory, including civilisations like Aegypt and China. Also nitpicking... no pun intended: the black death was a bacterial infection, not a viral infection... but he's not a biophysicianist, so that's not too silly.
2008 Iceland let the banks go bust, then put their bankers and politicians in jail. 2008 We bailed out the bank, now we are bailing out big business; the problem is socialism for the banks and business and capitalism for the rest of us.
Robbing Hoods. They had it right from the beginning! But back then the hoods were a forest and the targets were the rich. Thank you for your insight, deep and substantial knowledge, Professor Wolff!
Yep. It's truly remarkable and saddening how many Americans blindly argue with the single-minded, narrow assumption that big companies are automatically good because, "jobs". That's just one instance of how people will argue against their own self interest in favor of the corporate political party's monetary gain.
In this imagined world of worker co-ops, what is the nature of the companies that these workers work under? Are they private companies? Are workers majority shareholders (if that concept exists)? What does accountability look like? Too many questions, but I can't answer any. Are these perhaps the wrong questions?
No these questions are important. How are COOPS formed? By the state or by the workers themselves? How do they get capital (resources and machines to get started)? Can two COOPS compete? Can they trade? Can one COOP then exploit the other? Can a COOP go bankrupt? What happens to the workers then?
![Global Capitalism: China vs. US - System Rising vs. Falling [September 2022]](/img/n.gif)
people will spend tens of thousands of dollars to attend college, yet here is a top economics professor being ignored by the bewildered herd
Yes many are borrowing significantly to become misinformed. This is the best economics channel.
we are a nation of gullible non-critical thinkers
BeeFriendlyApiary trump was right about that. And he used it to his advantage.
in china. one only need to pay 800 dollars a year for education. even if you still can't afford it, the government gave you a loan with zero interest for about eight years
Still, why are none of you discussing solutions, what the hell is wrong with you people?!
A Nation's future should never hinge on the proclivities of any single person. Voters on both sides are exactly the same. Both turn into triggered name calling fascists whenever someone challenges their beliefs and both accuse anyone who doesn't parrot their assigned talking points of supporting the other party. Thus the supporters of both parties have hijacked and sold out the rest of humanity for the sake of their own egos and lack of imagination.
And this is how they've controlled us from the dawn of the 20th century, where they pit us against each other, seed the debate with misinformation, a little populism, some catchy epithets, and go about their plunder completely unopposed. All representatives will always be subject to influence from monetary interests, blackmail, or assassination.
The solution is a velvet revolution to install a Scaled Direct Democracy without representatives and politicians
Citizen initiated referendums with thresholds and a social contract using Blockchain technology means communities can vote for their own policies without politicians. *Thorium energy renders their global oil monopoly obsolete*
*#VelvetRevolution*
*#ScaledDirectDemocracy*
*ThoriumEnergy*
Thorium energy can process both nuclear and toxic waste as well as perform salt water desalination, carbon sequestration, and synthetic fuel production/ electricity for road/rail transport
energyfromthorium.com/
"The thorium molten salt power plant can produce clean energy cheaper than coal, which could be reliable energy system toward a low-carbon economy," PAL said.
www.reuters.com/article/us-indonesia-nuclearpower-idUSKCN1UD0D0
If the profits from American labour were shared equally, as they are with Corporate Shareholders, every household would receive $700k a year. If we got even a fraction of that amount we would have more than enough to fund education, healthcare and infrastructure for everybody.
52% of all Greenhouse gases come from methane produced by Beef farming, which is 90% subsidised. Ending Beef Communism and embracing Hemp as a moonshot technology alongside Kelp farming for use in packaging, construction, and manufacturing provides an alternative means for land rehabilitation, food production, and industrial oils, as well as medicines, insulation, and clothing.
It would also be conducive for there to be an independent public authority drawing from volunteers to act as advocates for the public interest, with the authority to both observe police and govt interactions with the public, and prosecute bad actors in our own courts. This would ensure law enforcement and government agencies are held to a high standard of etiquette and ethical behaviour for everyone, regardless of their creed, color, or economic bracket.
Powerless unemployed Americans finding out billionaires are not going to bring back their old manufacturing careers.
A Nation's future should never hinge on the proclivities of any single person. Voters on both sides are exactly the same. Both turn into triggered name calling fascists whenever someone challenges their beliefs and both accuse anyone who doesn't parrot their assigned talking points of supporting the other party. Thus the supporters of both parties have hijacked and sold out the rest of humanity for the sake of their own egos and lack of imagination.
And this is how they've controlled us from the dawn of the 20th century, where they pit us against each other, seed the debate with misinformation, a little populism, some catchy epithets, and go about their plunder completely unopposed. All representatives will always be subject to influence from monetary interests, blackmail, or assassination.
The solution is a velvet revolution to install a Scaled Direct Democracy without representatives and politicians
Citizen initiated referendums with thresholds and a social contract using Blockchain technology means communities can vote for their own policies without politicians. *Thorium energy renders their global oil monopoly obsolete*
*#VelvetRevolution*
*#ScaledDirectDemocracy*
*ThoriumEnergy*
Thorium energy can process both nuclear and toxic waste as well as perform salt water desalination, carbon sequestration, and synthetic fuel production/ electricity for road/rail transport
energyfromthorium.com/
"The thorium molten salt power plant can produce clean energy cheaper than coal, which could be reliable energy system toward a low-carbon economy," PAL said.
www.reuters.com/article/us-indonesia-nuclearpower-idUSKCN1UD0D0
If the profits from American labour were shared equally, as they are with Corporate Shareholders, every household would receive $700k a year. If we got even a fraction of that amount we would have more than enough to fund education, healthcare and infrastructure for everybody.
52% of all Greenhouse gases come from methane produced by Beef farming, which is 90% subsidised. Ending Beef Communism and embracing Hemp as a moonshot technology alongside Kelp farming for use in packaging, construction, and manufacturing provides an alternative means for land rehabilitation, food production, and industrial oils, as well as medicines, insulation, and clothing.
It would also be conducive for there to be an independent public authority drawing from volunteers to act as advocates for the public interest, with the authority to both observe police and govt interactions with the public, and prosecute bad actors in our own courts. This would ensure law enforcement and government agencies are held to a high standard of etiquette and ethical behaviour for everyone, regardless of their creed, color, or economic bracket.
@Benjamin Esterberg it's not the billionaire who's bad, it's the system of economics. But then you knew that .
@@orchestratedapocalypse758 does permafrost melting put out more methane than cattle?
@Benjamin Esterberg I know the billionaire Trump said he was going to bring manufacturing back to the United States but isn't he still making his maga hats in China?
@Benjamin Esterberg i think we both agree that Alang beach is the libertarian paradise that we should all want.
It doesn't get better than prof wolf. this is an intellect that's off the scale backed by a deep moral compass and they rarely go together
Oh yeah, that's the same intellect that writes things like "Competition causes monopoly, and monopoly causes competition", right?
@@clarestucki5151 Who wrote that? Citation please.
@@Rodrifuuu R D Wolff wrote that sometime earlier this yr, in one of his regular weekly articles. Dumbest economic statement I ever read.
@@clarestucki5151 SOURCE.
@@Rodrifuuu "Source" was my eyes and ears. I listen to every one of Wolff's weekly "Economic Update" posts, and most of his intermediate ones. I didn't record the date of the specific article where he said that. You can review them yourself if you need the specific date.
Millennials and Gen Z already had a slim majority against capitalism, that majority could grow noticeably in the coming Depression.
And if they want to survive, it will grow or their generation will perish.
"The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated communist, but people for whom the distinction between fact and fiction . . . no longer exists." -- Hannah Arendt. The insistence of Capitalism that unlimited growth is possible on a finite planet is exactly that kind of fiction. Capitalism contains the seeds of totalitarianism.
Hannah Arendt was a con artist. Anyone who equates Communists with Nazis, Fascists, or other authoritarian "strong men," is someone serving the interests of the ruling elite.
@@itzenormous Aurhoritarian is authoritarian whatever its costume. Socialism has non-authoritarian forms and Soviet-style Communism wasn't one of them.
@s Nice -- and interestingly cogent --- analysis and I don't disagree. BUT, you'll have to forgive me. For, as a biologist, placing natural science over the human contrivance of economics. Logically, if we take off the blinders, Capitalism's most destructive totalitarian aspect is its failure to factor environmental impact into the costs of doing business. In the biosphere, everything else is reciprocity, give & take w/ controlling feedbacks. Aboriginal people got it; in contrast, feudalism evolving to capitalism took an authoritarian " gift-of-god" approach. The delusion that the planet/biosphere are there for our pleasure, at our disposal - biologically, nothing is further from the truth. That's the totalitarian aspect that's got a high likelihood of doing us in. [And it's not the earth that needs saving. Plenty of bacteria, fungi & other rapidly reproducing/adapting species would make it through even if we didn't.] Anyway, appreciate the discussion.
As long as Moore's law holds true, there is much farther for the economy to grow.
@@3jacen =All techno-addicts think Moore's law invalidates the 2nd law of thermodynamics. Good luck with that.
How well explained!!!! So clear, it hurts. Thanks Prof Wolf.
It does hurt. Makes me wonder why someone like Prof Wolff even bothers with the human race at this point. Seems like a failed experiment. I have to assume all the nukes will be launched before something like socialism happens
No he doesn’t, why not have him debate a libertarian, or is he scaredy-cat, because he may sound like a fool?.
Nothing like listening to Professor Wolfe to get a grip on current events in America and around the world. Thanks Professor. You are appreciated.
It is a scamdemic for you wallet/pocket book.
Professor Wolff , thanks so much for producing these videos to help educate us. Doing my part to share with friends and family!
Say it as it is!!
Wish people would read and learn more about the history of capitalism!
People need to read 2 books: Karl Marx's "Capital" and Vladimir Lenin's "Imperialism: The Highest Stage of Capitalism."
It takes an astute and patient person to read and fully grasp these all-important texts though.
I WISH PEOPLE WOULD BLOODY WELL START PROPOSING SOLUTIONS INSTEAD OF PASSIVE APATHY
@@orchestratedapocalypse758
Zeitgeist Movement for me.
@@ninadiamant8937 how do we get there, where's your path to success?
Agree lm still trying to conquer my own ignorance
I don't know why so many believe in the Humanity of Corporations.
Corporations campaigned themselves that way, they are recognized as people by law, and the population is undereducated and the food supply tainted to further disadvantage them mentally and physically.
They're Liberals. Liberals believe in that sort of nonsense.
Or, they might be Conservatives. Not much difference, in the overall picture.
@chris younts Most foreign companies are in countries that are either socialist or Communist. US is unique
Because corporations are people. Duh. The Supreme Court told me so
@RUSSIAN ROBOT very silly
You just gave us a crash University course of the history of world economic systems and its failures. EXCELLENT . Your very good and I enjoy listening to you. Thank you
xavier deligne He perpetually blames capitalism for problems which have not connection to capitalism.
@@clarestucki5151 the system is capitalism the problem are caused by capitalism. You need to read Marx because everything he said about capitalism is now happening.
@@clarestucki5151 Capitalism leads to wealthy individuals wanting more, so they bribe politicians, and then it leads to Crony Capitalism. Crony capitalism provides for the corporations and strips away protections and assistance for the needy. It also erodes democracy because the system seeks to not be replaced when those on top have it so good. Control information, control workers (like waving healthcare over their heads), and create political apathy. We can do better than capitalism.
Socialism is not anti-profit nor anti-competition.
@@ligmanewtons2523 The beauty of capitalism is, everybody who resents "wealthy individuals" can go into business for himself and try to become a 'wealthy individual' himself. Sorry to hear that you were unable to do so,
@@clarestucki5151 Not really, what about the trading marketing and banking system. This is part of the capitalist approach. Everything is up to be able to profit from at any cost. We cannot sustain that, on the only plant we all share. I also think that capitalism doesn't align with the human condition. Which thrives on collaboration not on 'dog-eat-dog'.
The serfs knew feudalism wasn't working - "Listen here strange women lyin' in ponds distibuting swords is no basis for a system of government"
@@jimbodriver1015 we elected obama and trump right? we are obviously willing to take risks.
I was thinking about that scene the whole video XD
@@laserbrain7774 Obama wasn't a risk.
@@publicguy1664 Delusion or cognitive dissonance on your part.
You tellin' me we shouldn't be letting some moist bint tell us who our leaders should be?
I love you! I think we need you! I think you are a wonderful truth teller!
Right
Prof Wolf really digs deep!
The only thing I'm thankful for technology is bringing a professor of economics right to your home, and not just any professor " The Professor Of Economics - Mr. Richard Wolff...... I might have more things I am thankful for, but this is what came to mind...
these talks keep me focused. our nation is so outta touch with the reality. im sure thats by design somehow.
Of course. This is a war on consciousness/spirituality
It’s CIA propaganda. Simple as that. You should check out the recent Second Thought video it’s pretty compelling.
Thank you, Professor, for yet another in a long stream of intelligent, insightful, incisive, and highly informative, relevant broadcasts. I believe that every working American should be exposed to your videos and ideas, and that collectively, we would be better off for it. Keep up the great work.
Great video!
Once again, Dr. Wolff shines the light and suddenly I find myself saying aha!! Such an excellent professor illustrates cause and effect brilliantly. I love his sense of irony and humor. I could watch this video over and over again. Thank you, Professor Wolff!
More like Aha, ha, ha, ha, ha.....You might try...A Distant Mirror by Barbara Tuchman
after which "cause and effect" become quite different...
I can almost see the start of his one inch by one inch mustache
If we were not a nation of gullible non-critical thinkers, most of what we currently face would not exist...but we continue to vote against our own best interest and that of our friends, family, community and our country.
people at core have the similar potential the world over. If the people of the Anglo West seem like gullible non-critical thinkers, then it's because the political/economic/media system we inhabit shapes us to be that.
A Nation's future should never hinge on the proclivities of any single person. Voters on both sides are exactly the same. Both turn into triggered name calling fascists whenever someone challenges their beliefs and both accuse anyone who doesn't parrot their assigned talking points of supporting the other party. Thus the supporters of both parties have hijacked and sold out the rest of humanity for the sake of their own egos and lack of imagination.
And this is how they've controlled us from the dawn of the 20th century, where they pit us against each other, seed the debate with misinformation, a little populism, some catchy epithets, and go about their plunder completely unopposed. All representatives will always be subject to influence from monetary interests, blackmail, or assassination.
The solution is a velvet revolution to install a Scaled Direct Democracy without representatives and politicians
Citizen initiated referendums with thresholds and a social contract using Blockchain technology means communities can vote for their own policies without politicians. *Thorium energy renders their global oil monopoly obsolete*
*#VelvetRevolution*
*#ScaledDirectDemocracy*
*ThoriumEnergy*
Thorium energy can process both nuclear and toxic waste as well as perform salt water desalination, carbon sequestration, and synthetic fuel production/ electricity for road/rail transport
energyfromthorium.com/
"The thorium molten salt power plant can produce clean energy cheaper than coal, which could be reliable energy system toward a low-carbon economy," PAL said.
www.reuters.com/article/us-indonesia-nuclearpower-idUSKCN1UD0D0
If the profits from American labour were shared equally, as they are with Corporate Shareholders, every household would receive $700k a year. If we got even a fraction of that amount we would have more than enough to fund education, healthcare and infrastructure for everybody.
52% of all Greenhouse gases come from methane produced by Beef farming, which is 90% subsidised. Ending Beef Communism and embracing Hemp as a moonshot technology alongside Kelp farming for use in packaging, construction, and manufacturing provides an alternative means for land rehabilitation, food production, and industrial oils, as well as medicines, insulation, and clothing.
It would also be conducive for there to be an independent public authority drawing from volunteers to act as advocates for the public interest, with the authority to both observe police and govt interactions with the public, and prosecute bad actors in our own courts. This would ensure law enforcement and government agencies are held to a high standard of etiquette and ethical behaviour for everyone, regardless of their creed, color, or economic bracket.
To be fair, we are a nation that has been raised into a domination-model society that has indoctrinated us into believing life has only two choices: to be dominating or to be dominated. To be the abuser or be the abused. Life is based on fear and this hijacks our brains and severely limits our thinking. Our minds are now solely focused on minimizing fear and numbing ourselves to the psychological pain of abuse through our addictions. There is no room for "critical thinking" much less hope that we can make the world a better place. Even those claiming to show us a way out are indoctrinated by this limited model. The only way out is to change ourselves by challenging what we have been raised to believe and value. To change the way we think. Humans are not born evil. We are not born selfish and greedy. This is a lie fed to us to keep us indoctrinated into the domination model. We currently have societies (like the Nordic countries and even the Canadian province of Quebec) that show compassion and nurturing citizens leads to a stronger and more creative society. Not a weaker one as we have falsely been led to believe. Capitalism is an economic system based on the model of domination. It's time to finally go is here.
Trees voting for the axe
Voting is part of a system which by its very design is against most people's interests. What's in our interest is revolution.
Cases are on the rise in NYC, Prof. Wolff. Please be safe - we need your voice more than ever.
Prof Wolff. you are incredible. you are calling it like it is!!! I wish more people would get the message
Why to work for money... When you can just print it.
......................(FEDERAL RESERVE)
MMT explains this, and also why there are taxes anyway.
@R B If the government pays for its services without collecting taxes, the amount of currency in circulation goes up and up and up and you end up with hyperinflation. You have more dollars to compete with the amount of goods, and the money becomes worthless. Banknotes will end up being used to line the bottoms of hamster cages.
This exists when you have a fiat currency system, that is, the central bank is the entity issuing the currency and it's not backed up by another currency or by gold.
A lot of people think that taxes are levied to pay for government services. In the US, that is true for state taxes but it's not true for Federal taxes.
@R B to subdue people and keep them down and chained. Also the rich love public welfare
We should all turn everything we have or will ever have over to the Government like the people of Venezuela did. Now they have everything they will ever need, Government will provide, Government, Government, Government, that's the answer to every problem, we just need more Government like they have in Venezuela (and lets not forget North Korea too).
@@ginojones5857 I'm struggling to determine whether this is a parody of typical american fearmongering or if this is real and I spotted one in the wild
I am going to listen to this lecture many times over the next week in order to absorb it completely. So interesting! Thank you Prof. Wolff.
America: "Damn the torpedoes, full speed ahead!"
America: (runs into a torpedo)
America: "Damn!"
**takes a piece of B R E A D and feeds it to the algorithm **
Good! Cuz bread spikes up your insulin levels and makes you fat 😂 If that were salmon or avocado, I'd have an issue 🤣🤣🤣
Thank you, I've been saying this for fifty years!!!
@s Wow, let me remind you this is a page where people are allowed to comment and express themselves, and yes even get personal. I feel no shame at all, I only feel sorry for you. Take care and stay safe.
Unbelievable Richard you have lots Insightful knowledge
You should have stopped with "unbelievable"...because the history related here is false,
and while it is inciteful, it is not knowledge.
You might try...A Distant Mirror by Barbara Tuchman
it's not about the governments. it's about the system of ownship. the ownship of important means of production. like educational resources, medical resources etc. like in China, 800 dollars a year for college education, you can get get a zero interest loan for eight years. socialism doesn't mean dictator. you can still vote for leads. market is a powerful tool, but in the us, the market is the state owner
Marx said proletariat have to free the whole world to free themselves, but China have give that up.
Prof. Wolff, you bring so much historical knowledge and wisdom & I thank you.
Here's one for the algorithm.
Thanks for calming my nerves, Dr. Wolff.
My man mr Wolf
Richard, I immensely love you!!
I would have loved to take some classes from this guy.
Good man, clear and understandable language, deeply educated, authentic person, rare to find....Chomsky , Harris....in that line....hope people gonna wake up from the big nap.....most important podcast...one of the rare intellectuals who can narrate history so it makes sense.
I really wish Richard Wolff would run for president!! He's such an informer and teacher that makes everything simple to understand!! It's like an economics course for free!!
It would be good, except all too soon he would be assassinated.
Such good stuff. I appreciate your videos. I've been watching your lectures and speaking events too. I'm glad you share your thoughts
History repeats itself. Learning history is important for mankind to avoid mistake. Salute to professor for his insight.
Except he is ignorant of history, teaching the equally ignorant...
Yeah, Socialism will be tried again and will fail again, because people like you refuse to learn form history.
If you look closely at what's happening among businesses and imagine them as feudal lords, these mergers and supercorps that keep emerging as the system crumbles get really worrying.
That while we push for a stronger state in the government that we vote for, the feudal lords we did not vote for are slowly consolidating their own power.
Under capitalism, in many ways, most people live under essentially two government apparatuses, the first is the state, the second is their employer.
This could be made into a bed-time story!
America's number one Professor . Instead of 21 thousands , I wish 21 millions were listening to him.
Soon , Americans would start listening to people like R D Wolff.
These are exciting times we live in. Scary and exciting. Love to us all in solidarity.
Excellent video, thank you
I feel bad that i can’t afford the patron right now
Allow me to reply as a capitalist would as to why you can't afford being a patron:
1. You're lazy
2. You're not as smart as I am
3. You don't work as hard as I do
4. You depend on the government (refer to 1)
5. You're a communist/socialist (they are both the same right?)
6. You don't understand economics
I just doubled my payment for you, comrade. So, no worries.
You are just one amongst millions in the United States alone who cannot.
@Dennis Young yes, sarcasim. I've heard all of those excuses given by capitalists.
Thank You Richard Wolf for an outstanding lesson & presentation of the history and the evolution of Society & Economics
The only thing we learn from history is that we don't learn anything from history...'
Apparently you people don't learn that Socialism does not work.
@@BarrySlisk Capitalism does not work either. We need balance. Like an aeroplane - it needs left wing and a right wing to be perfectly balanced.
@@coolbreez773
The only balance Capitalism needs is a small government in charge of police, defense and law and order.
@@BarrySlisk It also needs to regulate corporations to stop exploitation of people and the environment. The state has always been the guarantor for huge infrastructure projects, the railways and the roads etc was too risky for contractors and they would not exist today without state support.
@@coolbreez773
You have a point :)
To all of you listening to mr. Wolf. I hope you know that the total u.s. currency was 4.5 trillion at the beginning of February and is now at 7.1 trillion. That's a 41% decrease in the value of our dollar. The economic woes that we are facing are caused by shutting down the economy and doubling the currency. This is a Hallmark of socialism. for those who want a balanced point of view of capitalism and socialism I recommend watching Ayan Rand what is capitalism
Billionaires applaud Chinese economic recovery as Americans pray to bring back what they offshored.
Some Americans - the top 40% are doing just fine and like things as they are.
@@gertrudewest4535 I don't know if you can do fine while driving past homeless people begging for food.
They all can't be heartless.
Thank you for such an informative review of how economies change over time. It gives me hope for what's to come.
Astonishing how interesting history can be! Very good! Excellent!
Thanks. It's an interesting perspective.
I found this today, and... Phew! I couldn't find anyone else talking about our ignored economic crisis until today. So glad that at least *someone* is talking about this. Americans are fighting over the Presidency, while completely ignoring this dust ruffle economy.
Well said!
Excellent lecture! You’re doing a wonderful job for the American people. I hope enough of the population gets the message. A thriving society needs universal healthcare and a decent Education for ALL of its citizens.
Strangely comforting.
Thank you, Professor Wolff.
As a viewer from China lives in the UK, I’d say this speech sounds more communist than any of the Chinese Communist Party speech, or even makes the CCP feels like capitalism. TBH it don’t really matter to me communist or capitalism, and for the pandemic thing, East Asian countries generally doing better largely because they had experience with SARS. I don’t think it’s capitalism that makes the response to the pandemic so bad, but it was the people in the western world didn’t realise the problem until the shit hits the fan.
Professor Wolff is like a modern day prophet and more relevant today than ever before.
Always fascinating to hear an Americans idea of European history! Wolf ain't too far off, but the idea that we didn't have kings before the 14th century is a bit weird
@Dirk Knight yeah, communists and capitalists need to get over themselves. They're both wrong.
@Dirk Knight you just described a capitalist also.
Capitalism is absolutely the world's dominant ideology. It comes from liberalism, which comes from humanism, ya know what else comes from humanism? Socialism.
It IS an ideology, exactly the same as socialism. And it has supremacy at its heart (free market, perpetual growth, small state.. the idea that production of capital is the ONLY thing required for the health and welfare of a nation, i.e. capital creation = jobs, which isn't going to be true much longer), just like socialism which says that ONLY society can achieve equality and welfare.
Well you're both damn wrong! Supremacy IS NEVER the answer in a multidimensional system, of which, the human, the species, and the ecosystem, ALL are.
Always great Sir
It was very educative (as well as enlighting about the corrupt nature of the capitalism)... Thank you, Mr. Wolff.
This lecture got me all pumped up!!!
Thank you Prof. , even if sometimes it feels like you're speaking to the void. I hope, somehow, that people take these discussions and use it to change for the better.
Thanks again for the insight!
really good analysis and insight.
Thanks doc!
Just a minor correction from a European. The manor was the house of the lord. The land the serfs, and later the farmers, worked on was called the estate. 'Estate' is usually used to mean something different in Modern English though, usually to refer to areas of housing for the poorest of the working class called council estates.
Keep up the good work.
In the Great Depression of the 30s, 4.3 million Americans were displaced, 5% of the population. FDR told the elites, 'it's the new deal or revolution'. In 1945, at the end of WW 2, Europe had 11 million displaced people, roughly 2% of the 5oo million population. In 2021 America will have 30 million displaced people, roughly 9% of the 350 million population, just to give you some perspective of what your about to go thru.
And regarding the plagues. Let’s also consider the role of the church in disseminating hatred toward women and crazily toward cats. The superstitious pogrom against cats contributed greatly toward the spread of disease. Without cats to kill rats, the rats were everywhere.
I think this is why they have been trying so hard to keep that stock market up during this pandemic. If that goes down that will signal to the American people and the world that capitalism is failing.
Everybody agrees we need another massive govt stimulus to keep the scam going. The size of their entire yearly tax haul. But they just looked at the numbers and figured we don’t need that next injection till 2021. Inconsequential that evictions are happening and people are going thru intense winter pain and hardship in the meantime.
Actually, the stock market failing would be a sign that capitalism works, because things FAIL in capitalism.
Attempting to prevent this failure simply compounds it... this is a gift from FDR and you have reached the final stage.
thank you
Thank you for teaching my college degree in History!
Thank You For Speaking The Truth. May God Bless You Sir. We Salute your Honesty. Your Videos are Really Brilliant. May God Bless You.
Change definitely is coming... you can feel it on the streets. Professor Wolff, you definitely have the grasp of history and economics to help shape what is to come and to enlighten those in the coming struggle to help them stay the course until the end. I hope that the person who will rouse the people off the couch and into the streets has you or someone like you to counsel them on economic matters.
The thing mr. Wolf is not telling us about is the choice the choice of a man to start his own business to start selling his own Goods under capitalism it is allowed not under Socialism or communism
The co-op is a socialist equivalent to enterprises.
You get to produce your own things with your own ideas, and profit-based competition is washed away. The only difference is that everyone who works in the company gets a say in the company’s decisions.
3:22 - "Capitalism's worst night wear." Like those onesie pajamas with footies in them you wore as a kid, that would always build up static electricity when you walked.
Mortality rate 0.14 (CDC) leads to two questions: (1) is the "cure" worse than the disease; (2) Who benefits from the "cure"?
Thank you 🙏🏻
great analysis
This was so much fun to watch!
Professor Wolff, I was taught in Civics that our constitution and The Federalist Papers define a republic not a democracy. Could you elaborate on what you mean by democracy?
Excellent.... learnt a lot
Professor Wolff's summary of European history and geography is signifcantly flawed:
1. the Roman empire has not been "done away with" - it collapsed during the Barbarian Invasion.
2. kings existed basically ever since then, as new states were established by the new peoples that formed - the emergance of absolutism did not bring monarchs, it transformed existing kings into the single decision taker of the country thanks to professional armies and central administration
3. Both Portugal and Poland existed at that time and before and afterwards - true, there were no 'nation states' as there was no nationalism, but there respective kingdoms already existed and influenced the development of the ethnic groups that centuries later would be the basis of nationalism
4. Last but not least, Poland and Portugal differen indeed in their geographical position on the north-south axis; however, they are far mor distant on the east-west axis. ;-)
Fun fact, despite these mistakes, the hypothsis that aboslutism was a reaction to the failrue of feudalism to cope with the plague is very intruiging and worth being investigated by historians if they haven't done so yet.
Great video
well done
Yes, simultaneous unfathomable occurrences of a spectacular nature. Concerning and beyond my ability for meaningful intervention.
Loved this video! Great history lesson
So excellent...as usual😊
Thanx 4 another great lesson!
Thanks
12:00: Okay, in the past I've wondered at the professor's lack of historical knowledge, but this is just so outrageous I'm puzzling at what the hell he's doing. That's not anywhere near what happened, what the hell.
1. Kingship stretches back into prehistory, it's not a post feudal invention. It existed in the Feudal era...
2. Robinhood is 100% ahistorical fabrication. The only thing he has to do with reality is that brigands existed. He's a mythical folk hero, Dr. Wolff might as well be talking about Hercules, Hippolyta, or Paul Bunyan.
3. The centralisation of power had nothing to do with the black death. The trend towards absolutism predated the black death, and finished long after the last episode. In fact, the end of the centralised Eastern Roman empire coincides with the end of Feudalism.
4. Absolutism (the form of government we're talking about) also stretches back into prehistory, including civilisations like Aegypt and China.
Also nitpicking... no pun intended: the black death was a bacterial infection, not a viral infection... but he's not a biophysicianist, so that's not too silly.
You can ignore many other economists' views, but, you cannot ignore this view provided by the speaker Prof. Wolff of Economic Update.
I think pretty much everybody ignored it and nothing bad happened. We are all still here.
2008 Iceland let the banks go bust, then put their bankers and politicians in jail.
2008 We bailed out the bank, now we are bailing out big business; the problem is socialism for the banks and business and capitalism for the rest of us.
Good work. 🇺🇸
Robbing Hoods. They had it right from the beginning! But back then the hoods were a forest and the targets were the rich. Thank you for your insight, deep and substantial knowledge, Professor Wolff!
another great piece!
Yep. It's truly remarkable and saddening how many Americans blindly argue with the single-minded, narrow assumption that big companies are automatically good because, "jobs". That's just one instance of how people will argue against their own self interest in favor of the corporate political party's monetary gain.
In this imagined world of worker co-ops, what is the nature of the companies that these workers work under? Are they private companies? Are workers majority shareholders (if that concept exists)? What does accountability look like? Too many questions, but I can't answer any. Are these perhaps the wrong questions?
No these questions are important.
How are COOPS formed? By the state or by the workers themselves? How do they get capital (resources and machines to get started)?
Can two COOPS compete? Can they trade? Can one COOP then exploit the other? Can a COOP go bankrupt? What happens to the workers then?
Understand Completely and Creating the Global Economic Transition with over 65 countries 🙏