Richard Wolff Says Capitalism Drives Inequality With ‘Explosive’ Consequences For Society

[Harpy Eagle]

Things are great for those at the top — but “not at all” for everybody else, the economist says.

Greedy capitalism has led to decades of downward mobility as U.S. business interests exploit workers at home and abroad and automate jobs out of existence in search of greater profits, according to economist Richard Wolff.

In a Reddit Ask Me Anything session on Monday, the economics professor, author and speaker said the U.S. has gone “way overboard” in celebrating capitalism and overlooking its flaws. He put this down to the power of the ideology created around it.

Trump’s massive assaults on women, the labor movement, immigrants, minorities, etc have produced very little mass street action by social movements. How [to] explain such passivity in the face of such provocation? A declining capitalism has so far succeeded in presenting itself as the opposite, a super-strong totality impossible to budge.​

While conceding that capitalism has allowed for periods of upward mobility ― for example, in the U.S. between the ’50s and ’80s ― that time is over, said Wolff, an expert on Marxism. “In capitalism, workers’ well-being is fundamentally insecure, held hostage to capital’s needs and drives.”

Inequality born of capitalism threatens the social fabric of the U.S., said Wolff, pointing to the folly of using the stock market as a marker of economic health. Examining additional factors, such as unemployment, wage stagnation, debt levels and the opioid crisis, shows that “for the top 5-10 percent things are going well; for the rest, not at all. And the resulting deepening split between rich and poor has explosive implications for the whole society,” he said.

Wolff, who advocates moving away from capitalism to a different and better system, called on people to organize and to challenge the idea that capitalism is the strongest economic model.

More: Richard Wolff Says Capitalism Drives Inequality With 'Explosive' Consequences For Society

The greedy capitalistic quest for more money and exploitation of workers will be its downfall - and ours. Capitalism is a few for the few - and the hell with the rest. Capitalism is inherently evil. What do you think?

A Marxists thinks that capitalism is bad.

and in other breaking news, the sun came up in the east this morning

 

[2aguy]

Things are great for those at the top — but “not at all” for everybody else, the economist says.

Greedy capitalism has led to decades of downward mobility as U.S. business interests exploit workers at home and abroad and automate jobs out of existence in search of greater profits, according to economist Richard Wolff.

In a Reddit Ask Me Anything session on Monday, the economics professor, author and speaker said the U.S. has gone “way overboard” in celebrating capitalism and overlooking its flaws. He put this down to the power of the ideology created around it.

Trump’s massive assaults on women, the labor movement, immigrants, minorities, etc have produced very little mass street action by social movements. How [to] explain such passivity in the face of such provocation? A declining capitalism has so far succeeded in presenting itself as the opposite, a super-strong totality impossible to budge.​

While conceding that capitalism has allowed for periods of upward mobility ― for example, in the U.S. between the ’50s and ’80s ― that time is over, said Wolff, an expert on Marxism. “In capitalism, workers’ well-being is fundamentally insecure, held hostage to capital’s needs and drives.”

Inequality born of capitalism threatens the social fabric of the U.S., said Wolff, pointing to the folly of using the stock market as a marker of economic health. Examining additional factors, such as unemployment, wage stagnation, debt levels and the opioid crisis, shows that “for the top 5-10 percent things are going well; for the rest, not at all. And the resulting deepening split between rich and poor has explosive implications for the whole society,” he said.

Wolff, who advocates moving away from capitalism to a different and better system, called on people to organize and to challenge the idea that capitalism is the strongest economic model.

More: Richard Wolff Says Capitalism Drives Inequality With 'Explosive' Consequences For Society

The greedy capitalistic quest for more money and exploitation of workers will be its downfall - and ours. Capitalism is a few for the few - and the hell with the rest. Capitalism is inherently evil. What do you think?

Actually, he meant to say socialism........look at the socialist utopias....Cuba, Russia, Venezuela....it's great to be at the top there....but the little people have no food or toilet paper and their Doctors are now turning to prostitution to survive...

 

[2aguy]

Things are great for those at the top — but “not at all” for everybody else, the economist says.

Greedy capitalism has led to decades of downward mobility as U.S. business interests exploit workers at home and abroad and automate jobs out of existence in search of greater profits, according to economist Richard Wolff.

In a Reddit Ask Me Anything session on Monday, the economics professor, author and speaker said the U.S. has gone “way overboard” in celebrating capitalism and overlooking its flaws. He put this down to the power of the ideology created around it.

Trump’s massive assaults on women, the labor movement, immigrants, minorities, etc have produced very little mass street action by social movements. How [to] explain such passivity in the face of such provocation? A declining capitalism has so far succeeded in presenting itself as the opposite, a super-strong totality impossible to budge.​

While conceding that capitalism has allowed for periods of upward mobility ― for example, in the U.S. between the ’50s and ’80s ― that time is over, said Wolff, an expert on Marxism. “In capitalism, workers’ well-being is fundamentally insecure, held hostage to capital’s needs and drives.”

Inequality born of capitalism threatens the social fabric of the U.S., said Wolff, pointing to the folly of using the stock market as a marker of economic health. Examining additional factors, such as unemployment, wage stagnation, debt levels and the opioid crisis, shows that “for the top 5-10 percent things are going well; for the rest, not at all. And the resulting deepening split between rich and poor has explosive implications for the whole society,” he said.

Wolff, who advocates moving away from capitalism to a different and better system, called on people to organize and to challenge the idea that capitalism is the strongest economic model.

More: Richard Wolff Says Capitalism Drives Inequality With 'Explosive' Consequences For Society

The greedy capitalistic quest for more money and exploitation of workers will be its downfall - and ours. Capitalism is a few for the few - and the hell with the rest. Capitalism is inherently evil. What do you think?

Yes......and socialism....you just have to murder the right amount of people to try to make it work...

WILLIAMS: Fascism And Communism

The People's Republic of China tops the list, with 76 million lives lost at the hands of the government from 1949 to 1987.
The Soviet Union follows, with 62 million lives lost from 1917 to 1987.
Adolf Hitler's Nazi German government killed 21 million people between 1933 and 1945.
Then there are lesser murdering regimes, such as Nationalist China, Japan, Turkey, Vietnam and Mexico.
According to Rummel's research, the 20th century saw 262 millionpeople's lives lost at the hands of their own governments.

 

[Mac1958]

Things are great for those at the top — but “not at all” for everybody else, the economist says.

I'm familiar with Wolff. Let's just be honest about where this economist is coming from:
.

 

[whitehall]

Wolff is a Marxist. What do you expect him to say? The democrat party's ultra left leanings reached their peak last year when socialist Bernie Sanders ran and was cheated out of the primary by Hillary. Since Feinstein showed dismal numbers in her bid for reelection it seems that there might be a saner younger democrat constituency emerging from the chaos of the old crooked bigoted democrat party. Socialism is finished politically as anything but a nut case extremist anti-America cult.

 

[Toddsterpatriot]

Richard Wolff.

No, he isn't. You obviously need to read the entire OP very carefully.

An expert on Marxism isn't pushing Marxism? Why the hell not?

If he’s an expert on Marxism, then he knows it doesn’t work. That’s why.

He still loves it, that's why we can't take his recommendations seriously.

This is the problem with political discussion in the US. You dismiss everything the other side says just because the other side says it.

Conservatives have some good ideas. So do liberals. But there’s a knee jerk reaction from both sides. A balanced budget is a good idea. Smaller government is a good idea.

On the other side, mandated vacations for all workers is a good idea. It increases productivity, improves employee health and gives workers time with their families. Mandated maternity leaves and job security for pregnant women would go a long way to reducing abortions. Every other first world country has them. And nearly all have lower abortion rates than the US.

Until both sides start talking to one another and make compromises, you’re stuck in this toxic dance.

This is the problem with political discussion in the US. You dismiss everything the other side says just because the other side says it.

This is an economics discussion.
Taking a Marxist professor seriously in such a discussion is hilarious!!!

 

[Toddsterpatriot]

Things are great for those at the top — but “not at all” for everybody else, the economist says.

I'm familiar with Wolff. Let's just be honest about where this economist is coming from:
.

This guy is hilarious!!!
In the 2nd section of the intro, he compared Marxism to a family member taking out the garbage.
Just a favor that family members perform for each other.

 

[Clementine]

Things are great for those at the top — but “not at all” for everybody else, the economist says.

Greedy capitalism has led to decades of downward mobility as U.S. business interests exploit workers at home and abroad and automate jobs out of existence in search of greater profits, according to economist Richard Wolff.

In a Reddit Ask Me Anything session on Monday, the economics professor, author and speaker said the U.S. has gone “way overboard” in celebrating capitalism and overlooking its flaws. He put this down to the power of the ideology created around it.

Trump’s massive assaults on women, the labor movement, immigrants, minorities, etc have produced very little mass street action by social movements. How [to] explain such passivity in the face of such provocation? A declining capitalism has so far succeeded in presenting itself as the opposite, a super-strong totality impossible to budge.​

While conceding that capitalism has allowed for periods of upward mobility ― for example, in the U.S. between the ’50s and ’80s ― that time is over, said Wolff, an expert on Marxism. “In capitalism, workers’ well-being is fundamentally insecure, held hostage to capital’s needs and drives.”

Inequality born of capitalism threatens the social fabric of the U.S., said Wolff, pointing to the folly of using the stock market as a marker of economic health. Examining additional factors, such as unemployment, wage stagnation, debt levels and the opioid crisis, shows that “for the top 5-10 percent things are going well; for the rest, not at all. And the resulting deepening split between rich and poor has explosive implications for the whole society,” he said.

Wolff, who advocates moving away from capitalism to a different and better system, called on people to organize and to challenge the idea that capitalism is the strongest economic model.

More: Richard Wolff Says Capitalism Drives Inequality With 'Explosive' Consequences For Society

The greedy capitalistic quest for more money and exploitation of workers will be its downfall - and ours. Capitalism is a few for the few - and the hell with the rest. Capitalism is inherently evil. What do you think?

There goes the left again. You reaping benefits of your own labor is called greedy. But, taking money from others isn't greedy.

This video explains it best. Socialism is believed to be moral and people want it because it makes them feel better. Truth is that socialism is immoral and has never worked. Ever. Not once. It always turns to communism which is even more immoral and oppressive. But liberals do what sounds good and makes them feel good for the moment. Damn the consequences.

 

[jc456]

Things are great for those at the top — but “not at all” for everybody else, the economist says.

Greedy capitalism has led to decades of downward mobility as U.S. business interests exploit workers at home and abroad and automate jobs out of existence in search of greater profits, according to economist Richard Wolff.

In a Reddit Ask Me Anything session on Monday, the economics professor, author and speaker said the U.S. has gone “way overboard” in celebrating capitalism and overlooking its flaws. He put this down to the power of the ideology created around it.

Trump’s massive assaults on women, the labor movement, immigrants, minorities, etc have produced very little mass street action by social movements. How [to] explain such passivity in the face of such provocation? A declining capitalism has so far succeeded in presenting itself as the opposite, a super-strong totality impossible to budge.​

While conceding that capitalism has allowed for periods of upward mobility ― for example, in the U.S. between the ’50s and ’80s ― that time is over, said Wolff, an expert on Marxism. “In capitalism, workers’ well-being is fundamentally insecure, held hostage to capital’s needs and drives.”

Inequality born of capitalism threatens the social fabric of the U.S., said Wolff, pointing to the folly of using the stock market as a marker of economic health. Examining additional factors, such as unemployment, wage stagnation, debt levels and the opioid crisis, shows that “for the top 5-10 percent things are going well; for the rest, not at all. And the resulting deepening split between rich and poor has explosive implications for the whole society,” he said.

Wolff, who advocates moving away from capitalism to a different and better system, called on people to organize and to challenge the idea that capitalism is the strongest economic model.

More: Richard Wolff Says Capitalism Drives Inequality With 'Explosive' Consequences For Society

The greedy capitalistic quest for more money and exploitation of workers will be its downfall - and ours. Capitalism is a few for the few - and the hell with the rest. Capitalism is inherently evil. What do you think?

huh?

 

[HereWeGoAgain]

Things are great for those at the top — but “not at all” for everybody else, the economist says.

Greedy capitalism has led to decades of downward mobility as U.S. business interests exploit workers at home and abroad and automate jobs out of existence in search of greater profits, according to economist Richard Wolff.

In a Reddit Ask Me Anything session on Monday, the economics professor, author and speaker said the U.S. has gone “way overboard” in celebrating capitalism and overlooking its flaws. He put this down to the power of the ideology created around it.

Trump’s massive assaults on women, the labor movement, immigrants, minorities, etc have produced very little mass street action by social movements. How [to] explain such passivity in the face of such provocation? A declining capitalism has so far succeeded in presenting itself as the opposite, a super-strong totality impossible to budge.​

While conceding that capitalism has allowed for periods of upward mobility ― for example, in the U.S. between the ’50s and ’80s ― that time is over, said Wolff, an expert on Marxism. “In capitalism, workers’ well-being is fundamentally insecure, held hostage to capital’s needs and drives.”

Inequality born of capitalism threatens the social fabric of the U.S., said Wolff, pointing to the folly of using the stock market as a marker of economic health. Examining additional factors, such as unemployment, wage stagnation, debt levels and the opioid crisis, shows that “for the top 5-10 percent things are going well; for the rest, not at all. And the resulting deepening split between rich and poor has explosive implications for the whole society,” he said.

Wolff, who advocates moving away from capitalism to a different and better system, called on people to organize and to challenge the idea that capitalism is the strongest economic model.

More: Richard Wolff Says Capitalism Drives Inequality With 'Explosive' Consequences For Society

The greedy capitalistic quest for more money and exploitation of workers will be its downfall - and ours. Capitalism is a few for the few - and the hell with the rest. Capitalism is inherently evil. What do you think?

WOW!!
I had no idea I was at the top!!! (walks around with his chest puffed out)

 

[HereWeGoAgain]

Marxism has always been a huge success..........

Who is advocating Marxism? Not me.

Richard Wolff.

No, he isn't. You obviously need to read the entire OP very carefully.

An expert on Marxism isn't pushing Marxism? Why the hell not?

He's a billionaire who also owns Victoria's Secret. I doubt Marxism made him that rich.

So know you're defending capitalist?
I always find it funny when billionaires decry capitalism when they become rich off of capitalism.
It reminds me of the time we bought our first weekend place in the country and I didnt want anyone else to move in because I didnt want it to spoil my country place.

 

[beagle9]

Unfettered capitalism is just as destructive as communism. Wealth is transferred to the top, prices rise, wages stagnate, and poverty increases. Sound familiar?

Regulations, including minimum wages, are required to reduce capitalism’s worst excesses - pollution, product safety, employee exploitation and abuse.

Capitalism is also subject to periods of expansion and contraction. That is why a strong social safety net is required for a successful economy and to protect the weakest and most vulnerable.

The regulations that Trump is killing resulted in the longest period of sustained growth and job creation in US history. Job growth is already slowing.

Destroying the Affordable Care Act is the dumbest thing he’s doing and the consequences are already being felt. See West Virginia teachers’ strike.

Trump’s tax cuts will accelerate the transfer of wealth to the top, and place a much larger tax burden on the middle class.

The most successful countries have a healthy mix of private ownership of businesses, strong regulations and worker rights, and a strong social safety net. A strong central government is needed for regulation, education, intellectual property protection, worker protections, as well as foreign relations and national defence.

Capitalism needs stability, infrastructure, a well educated work force and a thriving middle class to succeed.

Current US policies are cutting the regulations necessary to prevent the worst abuses, and failure to properly regulate minimum wages and basic workers rights has created a situation whereby capitalism’s worst excesses are being amplified not restrained.

Growth and profits are the only things that matter. Being a good corporate citizen and member of the community is for losers.

. If all you say is true, then you should be over joyed that everything is going the way it is going in your view, because if true then it will all implode eventually, and when that happens a vacuum occurs. History will write the rest.

 

[Dragonlady]

Unfettered capitalism is just as destructive as communism. Wealth is transferred to the top, prices rise, wages stagnate, and poverty increases. Sound familiar?

Regulations, including minimum wages, are required to reduce capitalism’s worst excesses - pollution, product safety, employee exploitation and abuse.

Capitalism is also subject to periods of expansion and contraction. That is why a strong social safety net is required for a successful economy and to protect the weakest and most vulnerable.

The regulations that Trump is killing resulted in the longest period of sustained growth and job creation in US history. Job growth is already slowing.

Destroying the Affordable Care Act is the dumbest thing he’s doing and the consequences are already being felt. See West Virginia teachers’ strike.

Trump’s tax cuts will accelerate the transfer of wealth to the top, and place a much larger tax burden on the middle class.

The most successful countries have a healthy mix of private ownership of businesses, strong regulations and worker rights, and a strong social safety net. A strong central government is needed for regulation, education, intellectual property protection, worker protections, as well as foreign relations and national defence.

Capitalism needs stability, infrastructure, a well educated work force and a thriving middle class to succeed.

Current US policies are cutting the regulations necessary to prevent the worst abuses, and failure to properly regulate minimum wages and basic workers rights has created a situation whereby capitalism’s worst excesses are being amplified not restrained.

Growth and profits are the only things that matter. Being a good corporate citizen and member of the community is for losers.

. If all you say is true, then you should be over joyed that everything is going the way it is going in your view, because if true then it will all implode eventually, and when that happens a vacuum occurs. History will write the rest.

As a capitalist, why would I be overjoyed that Trump is destroying the economy?

 

[beagle9]

Unfettered capitalism is just as destructive as communism. Wealth is transferred to the top, prices rise, wages stagnate, and poverty increases. Sound familiar?

Regulations, including minimum wages, are required to reduce capitalism’s worst excesses - pollution, product safety, employee exploitation and abuse.

Capitalism is also subject to periods of expansion and contraction. That is why a strong social safety net is required for a successful economy and to protect the weakest and most vulnerable.

The regulations that Trump is killing resulted in the longest period of sustained growth and job creation in US history. Job growth is already slowing.

Destroying the Affordable Care Act is the dumbest thing he’s doing and the consequences are already being felt. See West Virginia teachers’ strike.

Trump’s tax cuts will accelerate the transfer of wealth to the top, and place a much larger tax burden on the middle class.

The most successful countries have a healthy mix of private ownership of businesses, strong regulations and worker rights, and a strong social safety net. A strong central government is needed for regulation, education, intellectual property protection, worker protections, as well as foreign relations and national defence.

Capitalism needs stability, infrastructure, a well educated work force and a thriving middle class to succeed.

Current US policies are cutting the regulations necessary to prevent the worst abuses, and failure to properly regulate minimum wages and basic workers rights has created a situation whereby capitalism’s worst excesses are being amplified not restrained.

Growth and profits are the only things that matter. Being a good corporate citizen and member of the community is for losers.

. If all you say is true, then you should be over joyed that everything is going the way it is going in your view, because if true then it will all implode eventually, and when that happens a vacuum occurs. History will write the rest.

As a capitalist, why would I be overjoyed that Trump is destroying the economy?

.Because you want your side to fill the void once power is conceded, but hopefully you will come up empty handed if your party is the Demon-crats... Go Trump !!

 

[LeftofLeft]

Things are great for those at the top — but “not at all” for everybody else, the economist says.

Greedy capitalism has led to decades of downward mobility as U.S. business interests exploit workers at home and abroad and automate jobs out of existence in search of greater profits, according to economist Richard Wolff.

In a Reddit Ask Me Anything session on Monday, the economics professor, author and speaker said the U.S. has gone “way overboard” in celebrating capitalism and overlooking its flaws. He put this down to the power of the ideology created around it.

Trump’s massive assaults on women, the labor movement, immigrants, minorities, etc have produced very little mass street action by social movements. How [to] explain such passivity in the face of such provocation? A declining capitalism has so far succeeded in presenting itself as the opposite, a super-strong totality impossible to budge.​

While conceding that capitalism has allowed for periods of upward mobility ― for example, in the U.S. between the ’50s and ’80s ― that time is over, said Wolff, an expert on Marxism. “In capitalism, workers’ well-being is fundamentally insecure, held hostage to capital’s needs and drives.”

Inequality born of capitalism threatens the social fabric of the U.S., said Wolff, pointing to the folly of using the stock market as a marker of economic health. Examining additional factors, such as unemployment, wage stagnation, debt levels and the opioid crisis, shows that “for the top 5-10 percent things are going well; for the rest, not at all. And the resulting deepening split between rich and poor has explosive implications for the whole society,” he said.

Wolff, who advocates moving away from capitalism to a different and better system, called on people to organize and to challenge the idea that capitalism is the strongest economic model.

More: Richard Wolff Says Capitalism Drives Inequality With 'Explosive' Consequences For Society

The greedy capitalistic quest for more money and exploitation of workers will be its downfall - and ours. Capitalism is a few for the few - and the hell with the rest. Capitalism is inherently evil. What do you think?

Yet democrats have no balls to run on socialism. Run defiantly against Capitalism in ‘18..... I defy you pussies.