Thought-provoking economist Richard Wolff returns to Los Angeles to discuss the extreme downturn in most of capitalism’s old centers, the unequal growth in its new centers, and the resurgence of a global speculative bubble, making the case that the Great Recession should not be grasped as a passing moment, but as an evolving stage in capitalism’s unfolding history.
Richard Wolff: Many system-critics of today’s capitalism are focusing increasingly on an economic transition from hierarchical capitalist enterprise organization to enterprises organized more horizontally as democratic worker cooperatives.
Richard Wolff: Capitalists’ incomes and wealth are determined by their particular, unique and superior contributions to production. In mainstream economic theory, capitalists are not just ripping off their employees.
Richard Wolff: An immense new political space and opportunity has been opened on the left. A crisis-ridden capitalism that serves an ever-smaller slice of the population in capitalism’s old centers increasingly alienates millions. Lesser-Evil Choosing
Richard Wolff: Capitalism understood as the prevailing employer-employee relationship in most of today’s factories, offices and stores is not and never has been the only kind of work relationship inside enterprises. Meaning of Capitalism
“To have a person not shying away from the label ‘socialist’ to be up there contending for President is so remarkable that you have to stand up and cheer, or there is something wrong with you,” said Professor Richard D. Wolff.
Richard Wolff: Passing government back and forth between the parties makes the enduring capitalist system appear to be above the fray, beyond political dispute, forever.
Richard Wolff: Exalting markets as if they were some perfect social optimum should be rejected as the self-serving tool of societies’ richest operated at the expense of everyone else.
Richard Wolff: If the Greek people vote no—their refusal to cooperate with capitalism’s plans—then a new political landscape will emerge.
Richard Wolff: Governors in the US now increasingly attack state employees, their unions and pensions as if they, rather than the crisis, had suddenly become the economic problem.
Richard Wolff: How activists see and act on today’s class system can make social movements more effective now than in the past – as a brief historical review can show.
Richard Wolff: The deepening problems of the early 21st century raise the distinct possibility of another cycle of fascist and traditional socialist experiments or, as we shall show, perhaps a genuinely new solution.
Richard Wolff: Bringing democratic decision-making into the core organization of enterprises provides the best chance for a less unequal initial distribution of income than is now common in most societies.