inequality

Richard Wolff Critiques Libertarian View that Capitalism’s Problem is the Government Richard Wolff Critiques Libertarian View that Capitalism’s Problem is the Government

The notion that the government’s intrusion into the economy is some sort of external influence (some sort of outside intrusion on what would be better left without such intrusions), I would argue based on a lifetime of work in the field we call economic history, that this is a complete illusion. Strong government has been…

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Richard Wolff on the Common Ground between Libertarianism and Socialism Richard Wolff on the Common Ground between Libertarianism and Socialism

I would argue to my libertarian friends, your definition of socialism is strange, and not quite on target. Are there some socialists who are in love with the state, and the power of the state? You bet. You get that. But they have always been socialists who are dead against that, and you seem either…

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Economic Update: Libertarianism Capitalism and Socialism [Trailer] Economic Update: Libertarianism Capitalism and Socialism [Trailer]

So the problems of what we have, for libertarians, are not the result of capitalism, they are the result of the government’s intrusion into capitalism. So since they’re critical of capitalism to the degree that the government is powerful, they’re even more critical of socialists because, for the libertarian, the socialist is even worse. You…

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Richard Wolff on How Competition Leads to Monopolies Richard Wolff on How Competition Leads to Monopolies

Company A produces (however it manages it) a better quality and/or a lower price than Company B. So we all go to company A. Company B can’t find any buyers because it’s not competitive. Or, to say the same thing in other words, Company A outcompetes Company B. Here’s what happens. Company B collapses because…

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Economic Update: Competition and Monopoly In Capitalism [Trailer] Economic Update: Competition and Monopoly In Capitalism [Trailer]

The idea here is “if only we can get competition back, recreate a competitive capitalism, why then the problems we face will go away.” Today’s program is that designed to show you how and why that is not the case. This nice story that capitalism is basically fine, it’s just a monopoly form we have…

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Richard Wolff on 3 Mistakes of Thinking the Problem is Monopolies, Not Capitalism Richard Wolff on 3 Mistakes of Thinking the Problem is Monopolies, Not Capitalism

So it’s comforting, in that situation, to get the idea from somewhere that this really isn’t a problem of capitalism as a system but rather the problem brought in somehow from the outside: monopoly. A situation in which competition among many companies gives way, in some way we’re not quite sure about, to a domination…

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How inequality in the UK is mapped: from the Victorian era to the 2019 election   | FT How inequality in the UK is mapped: from the Victorian era to the 2019 election | FT

So Alasdair, we’re talking maps today, and we’re also talking inequality which is a big word in the election manifestos this year. But in fact, when we talk about mapping inequality that’s not a new thing. It’s been done before. So who was the first to do it? Well, the first person really to do…

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Pros and cons of neoliberalism Pros and cons of neoliberalism

[MUSIC] Neoliberalism is a term for the political and economic policies associated with unrestrained free market global capitalism. The term was popularized in the 1980s by Ronald Reagan, Margaret Thatcher, and economist Milton Friedman, and is still prominent today. Proponents of Neoliberalism see free markets and free trade as a foundation for human flourishing, creating…

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Today’s EU: Wealth Tax Today’s EU: Wealth Tax

Today’s EU for our Patreon community: In recent days and weeks, a number of billionaires have taken to very public whining. Here’s what they’re whining about, and I’m particularly focused on Leon Cooperman, a hedge-fund billionaire, and Jamie Dimon, the head of the largest bank in the United States — names that I assume many…

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Economic Update: U.S. Economy and the Market Economic Update: U.S. Economy and the Market

Welcome, friends, to another edition of Economic Update, a weekly program devoted to the economic dimensions of our lives – jobs, incomes, debts – all of that. I’m your host, Richard Wolff, and today I want to begin by dividing our program into two major discussions. The first part will be the condition of the…

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