Richard Wolff

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…

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

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…

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

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…

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

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…

Read More Richard Wolff on How Competition Leads to Monopolies

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…

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

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…

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

Democratic Socialism: Revolution or Reform? Democratic Socialism: Revolution or Reform?

There is no room for reform. We have a broken system. We need to start over. The power of solidarity gets results right away. The next stage, the yearning to do better, that’s socialism. We’re for transforming the relations of people’s power in society. Puerto Ricans will get revenge. We seek to totally abolish the…

Read More Democratic Socialism: Revolution or Reform?

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…

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

Richard Wolff and Harriet Fraad on Sports in Capitalism Richard Wolff and Harriet Fraad on Sports in Capitalism

FRAAD: So, it’s one area where Americans can watch people compete who are qualified not by their parents money, or theirs, but actually by their own skill, by their own determination, and by their own ability to play as a team. And they have emphasized over and over again that they are a team. People…

Read More Richard Wolff and Harriet Fraad on Sports in Capitalism

Richard Wolff on Lessons from Working Class History Richard Wolff on Lessons from Working Class History

The working class has been crucial, at every step of the way, in allowing, incoming forward, in retreating, in allowing the destruction of its institutions that had protected it. You know, in Europe none of this kind of thing happened in the same way. Why? Because the working class did not suffer the kind of…

Read More Richard Wolff on Lessons from Working Class History