Thought-provoking economist Richard Wolff returns to Los Angeles to discuss the divisive crisis of capitalism under President Donald Trump and to outline better solutions.
Richard D. Wolff: The Trump/GOP budget will result in huge deficits of the sort the GOP has usually used to attack Democrats.
Richard Wolff: The truths of younger generations, now spoken ever louder to power, are also wakening to the need for an alliance with a socially effective power to contest against both the GOP and the Dems.
Richard Wolff: Given the conditions of global capitalism in the new century, a trickle down policy for the post-2008 US meant that “recovery” would be slow and bypass millions.
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.