Economic Update: Corporate Capitalism in Decline [CLIP]

Economic Update: Corporate Capitalism in Decline [CLIP]


[WOLFF] Where in the broader picture, of what
you see going on in the United States and beyond, is the problem of the economic system? What we talk about on this program? I thought my viewers and listeners would enjoy
how it looks from another perspective. From yours, you have broad interests, but
in that, the capitalist system and it’s ways…figure, and I’d like to hear you say a few things
about it. [HEDGES] Well, since I’ve been tutored by
your work: I think that Marx got it. That we’re in the twilight stage of capitalism. when, as Marx predicted, what capitalism does
is essentially not only become parasitic but cannibalistic. So you de-industrialize the country, you thrust…and
we know the figures, the official figures of unemployment, of poverty, are fixed. You’ve impoverished the country, de-industrialized
the country, stripped social services, and you have large corporations essentially consuming
the very machinery that sustains the state. And the whole notion of the “common good,”
of the commons, of any kind of government as a structure to foster and maintain community
has been jettisoned by neoliberalism. And so you were watching in the Trump administration
this extreme kleptocracy. And I’m not speaking about just the personal
kleptocracy of Trump and his family – which is extreme – but the kleptocracy of corporations
and hedge funds that seek to extract money. The education department: we spent about $800
billion dollars a year on education. We have placed a lobbyist, Betsy DeVos, who
has never even…was educated in the…essentially who has this mantra that we are going to destroy
public education and make it “better.” And they want that money. And they’re getting it through charter schools
which we know do not perform – in states like Michigan where DeVos’ foundation has set up
numerous for-profit charter schools – we know it doesn’t function better. We know it’s a form of educational apartheid
in the sense that they will refuse to accept not only poor students, students of color,
but students with learning disabilities, students for whom English is a second language because
they’re more expensive to educate. They have a kind of for-profit model. They’re completely vocational, they’ve destroyed
teachers unions, they bring in people who are ill-equipped to teach and essentially
teach by rote. And this is just writ large now. So you have her brother – of all people – Erik
Prince attempting to privatize the war in Afghanistan. You have Booz Alan Hamilton which gets 99%
of its revenue from the federal government by privatizing intelligence, which of course,
where Edward Snowden came from. And that fusion, by the way, of corporate
access to all of our personal information and government access to all of our information:
we have 16, roughly, intelligence agencies and 70 or more percent of its work is done
by private contractors. So…that’s the stage that we’re in.

21 Comments on "Economic Update: Corporate Capitalism in Decline [CLIP]"


  1. SEPTEMBER: [email protected] has received a challenge grant! All contributions made via our website are matched by the Lannan Foundation, up to $30,000. Help us reach our goal: http://www.democracyatwork.info/donate

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  2. Now I live the background except for that it obviously is a television. I think it would be cool if you used that for graphs and visuals. Just an idea. Sorry if you're already doing that, I haven't had the chance to catch up on my updates 🙁

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  3. thanks so much for keeping this interview OFF youtube…..it really helps a lot. whoever told you it was a good idea NOT to put your whole show on youtube….(while simultaneously soliciting subscriptions) is either incompetent or an infiltrator.
    you don't put your whole show on a platform that reaches billions of people that doesn't cost you a penny for what? so you can raise money to…….drum roll……………reach billions of people? you see what i'm saying?

    Reply

  4. Always put you biggest interviews out in full, then when you ask people for their support, more will have been exposed to that request of needing support, rather than locking content behind a paywall. Thus your more likely to get more support in the long run.

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  5. Im from germany, 17 years old and im studying economics bilingual (english and german) and I swear one day I will come to New York and visit one of Professor Wolffs lectures 😀

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  6. Love these 2 gentlemen. Spot on analysis. 😎 Wish I could afford a subscription to see full interviews though… 😕

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  7. i hope you kmow that this guy is a communist. He's admitted it on public televisions and proudly. Democracy is far from communism. He hides behid the name of democracy to pedal communist propaganda. Your frustration with the world is because of corporate fascism, not free market capitalism. Free market capitalism and true democracy were designed to compliment one another. What's happened is that major corporations have gamed the system through corruption of government and eliminated competition where by they've become monopolies (that is corporate fascism). Like communism, fascism is a totalitarian regime which always leads to misery. Don't by this guys bologna, he's a disgraceful liar and should know better.

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  8. Let's stop blaming Corporations, let us realize that it lays squarely on the shoulders of our elected and non elected government officials. Our government has failed us by allowing ourselves to be bought and manipulated by Corporations. Essentially our government has sold their services yo Corporations, therefore our Government is being run by Corporations.

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  9. If i get a pateron acount will Mr.Wolff finally say if fed taxation funds FEDERAL spending on national t.v?

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  10. The production costs of this video are as low as it goes, yet they cant put up the full episode on youtube? Is it about getting a message out, or raising money? I thought Wolf was a socialist? So much for educating the poor

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  11. I went to a great PUBLIC charter school as a sped student and we scored 2nd or 3rd in the state our 1st round of MCAST tests. the problem is public vs private not regular vs charter. the public charter school I went to was by far the best public education I got!

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