Tuesday, September 25, 2018

Prof. Richard Wolff: Capitalism on the Brink of Collapse


Prof. Richard Wolff: Capitalism on the Brink of Collapse
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Category
News & Politics
Spiritual Anarchist
And thus the rich thought : Never again. And now the poor are also made ignorant by decades of defunding public education. So today the poor march for the rich against socialism, healthcare for all and free education..That's irony for you.
183
Randy Best
Wall Street has destroyed this country.
54
Robgoren
The violence is coming. These bloodsucking parasite banksters need to be dragged naked through the streets by their balls and hung from hydropoles while their yachts and mansions burn.
63
Ace1000ks1975
Dr. Wolff is right, American capitalist don't give a damn about the average American. They can still make their money selling their wares around the world.
84
Rick O'Brien
Commercial consumer culture needs to be quickly dismantled in order to continue organized human life on earth. This talk of production and who makes decisions is OK but we need to consciously make a radical shift away from producing things we don't need and which the results of producing degrades our environment. We no longer can ignore externalities. Buying stuff, needing stuff, living for stuff is a mind set that creates what you see in our culture now. We have lost our collective minds. We can all have a good time in the process of preventing a very bad time. Fixing our mind sets is the key.
99
Adam Thomas
No doubt the environment is more important than the economy
36
Mohel Skinberg
IT IS WELL ENOUGH THAT [THE] PEOPLE OF THE NATION DO NOT UNDERSTAND OUR BANKING AND [MONETARY] SYSTEM[S]. FOR IF THEY DID, I BELIEVE THERE WOULD BE A REVOLUTION BEFORE TOMORROW MORNING! ― Henry Ford
44
Rosalina 90
Whenever you hear "Oh, well anyone can make it". Well, no they can't. Never. Even if everyone started "doing everything right" that wouldn't change the system dynamics. The wealth would still be concentrated, and no how matter how intelligent, hard working the rest may be - it wouldn't stop them being poor because there would never be enough for them all with wealth concentration. And most people cannot do "everything right". What if they are the child of as single mother putting themselves through school and their mother becomes gravely ill? What if there's no one else to take care of their mother? Do they have to drop out of school? Maybe. This potentially would never happen to a wealthy person, because at worst their family could pay for a private carer. Those equal opportunities, meritocracy phrases/words are just platitudes. You don't have look far to see that it is is obvious. I hear a lot of people making the individualist arguments that a person "should do this, or do that" That laid off factory workers should just learn to code! That's beyond unreasonable. For one thing, you have no idea if they have the educational foundations to be able to even begin that. It's not that easy to pick up a completely new skill that you were never educated for. That person was last in school 30 years ago. Maybe they didn't do well. Maybe they weren't particularly academic. Oh well, they can rot, I guess. Even if everyone decides to be a doctor or engineer - that would change nothing. Are there enough positions for 30 million engineers in the US? No. So those individualist arguments, fail.
58
Joe Weis
THE ONE PERCENT ONLY WANT ONE THING ! EVERYTHING
19
Jon Dhoe
I wish Liberals would understand that the ruling class is promoting this white supremacy on the rise. Trump Nazi evil is so overblown and damaging. All dog-whistle Liberals see Trump as the evil instead of the system and when Prof Wolff et al. do not address this. Throughout history capitalists have always used identity to divide and conquer. Isn't that fairly easy to see? Why blame ignorant powerless nobodies instead of those running the news media and politicians. We'll never get anywhere without recognizing what's going on.
23
Seamus Warren
After the crash, the Obama Wall Street Party re-inflated the banks instead of letting them fail and setting up a public bank in each state to refinance the bad loans.
26
mark loper
Meanwhile Trumps economic advisor is Larry Kudlow  & Goldman Sacs X Cronies wrote the Tax Bill . Its useless until the corruption is cleaned up . That's the #1 problem.
36
Joshua Bauman
It's always enlightening to hear the Proff's take on things
39
Jakeem Thunder
The aftermath of this worldwide economic collapse looks absolutely terrifying.
23
Marissa Gomez-Davis
UNITED STATES Capitalism is Collapsing !! and I AM HAPPY !!
24
Brian Booker
I’ve been studying Karl Marx for a long time now and for me his writings are difficult to understand. As a teenager Medical Marijuana helped me understand his writings but I could never remember what I learned after I came down (That’s a joke). I now have great teachers like David Harvey, Paul Mason and Dr. Wolff to help me understand his writings (Earlier this year I took Dr. Wolff’s course on Modern Political Economic Theory and I’m finishing up David Harvey’s new book and plan to read two more of his books). There is no doubt to me that Capitalism is dying and from its ashes an Anti-Capitalist society will form. Capitalism requires growth; it has to reproduce and evolve the circulation of Capital in order to survive. That’s no longer possible anymore because we’ve finally hit the hard limits to growth. The US made a fatal mistake by making the US Dollar the world’s reserve currency. This experiment failed miserably when the UK had the Sterling as the Worlds Currency and now it’s failing miserably for the US Dollar. If the worlds currency had been designed the way Keynes envisioned it; individual nation states would have been limited in their printing of Fiat money so that their money supply would correspond to the nation states productive capability. Now we have this monstrous interest bearing financial market that has foreclosed on all present and future value and the US Dollar is its representative. Anti-Capitalism has only one path it can follow; we’re now in a climate emergency and all fixed Capital and embedded labour will have to be directed to creating a fluid and very resilient society that can adjust and survive in a hostile environment.for our knowledge and technology to save us we’re going to have to create a society that is completely the opposite of Capitalism.
24
izamugginzweebopalaba
The notion that democracy and capitalism work harmoniously together because they are both based on some formal notion of free choice has been superseded. It's now a choice between authoritarian capitalism, a la China, which functions insofar as the rulership is rationally responsive to the needs of the people and the planet (or can quash dissent), or there is democratic socialism something along the lines of what Wolff is talking about. Do we truly value freedom? Do we reject authoritarianism? These are the choices.
27
Carlos Hernandez
This is my new favorite socially critical channel out there right now!
18
Atypical Texan
It's like a giant game of monopoly. When one person owns all the property and has all the money you have to divide it up and start over. Problem solved
13
Manny Santiago
And right after FDR did all that - saving capitalism from itself by getting all those rich folks to give something back.... the socialist and communist witch hunts, as well as the anti-union movements were put in place by the rich. they started using the state intelligence apparatus for just that. they were really pissed off that FDR had the gall to expect anything from them. they usually take from everyone else lol
12
Albert ricks
I'm glad it is self-destructive for the wealthy, Richard. I can hardly wait, 'cause it seems nearly impossible to wipe out these guys.
8
Tellthetruth n/a
It's not the system that is the problem. It is the people who run the system. Any system, including socialism, will fail if the leaders are greedy, immoral, psychopaths.
5
Philgwellington
Good work Richard. From New Zealand. Thank you.
5
Albert ricks
FDR's Administration was really unique for the American presidency, as well as our cultural history. Even before WWII helped cement his stature & put him over the top as the greatest American president by addressing quite speedily(with the help of Congress, of course) the economic difficulties of the vast majority of the people. Before or since, there wasn't and looks like there never will be again a glowing icon like Franklin Delano. We've gone from the man every president who came after wanted to be(or ended up trying to compete with for programs) to a president like Ronnie Reagan who wanted to tear down Government's commitment to serve the people so that mainly the well-to-do benefitted most(vis-à-vis, Tax cuts & breaks). What the heck happened? Convincing stupid people to vote against their best self-interests. That's what. That's the scheme. Or blame immigrants.
12

Deanna Demers
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