Wealth Inequality in India: We Must Go Beyond Colonialism & Capitalism - Prof Wolff, Economic Update
Вставка
- Опубліковано 19 жов 2024
- "The greatest of the leaders of [colonial] independence knew that getting independence politically, governing yourself, however important, was only half the battle. You had to also change the economic system because if you didn't, you would replicate in your own country what you had to fight against in the colonizer." - Richard Wolff
This is a clip from Economic Update: Inequality’s Insidious Spread - COVID-19, India, Insurance [S13 E08]
Watch the full episode on our UA-cam channel at • Economic Update: Inequ...
You can also listen to this show on our website or as a podcast on your favorite podcast player.
______________________________________________________________________________________
We make it a point to provide the show free of ads. Please consider supporting our work.
Become a d@w Patron: / democracyatwork
Become a monthly donor via our website: www.democracya...
_______________________________________________________________________________________
Check out the NEW 2021 Hardcover edition of “Understanding Marxism,” with a new, lengthy introduction by Richard Wolff!
www.democracya...
“Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.”
Check out all of d@w’s books: "The Sickness is the System," "Understanding Socialism," by Richard D. Wolff, and “Stuck Nation” by Bob Hennelly
www.lulu.com/sp...
_________________________________________________________________________________________
Want to help us translate and transcribe our videos?
Learn about joining our translation team: bit.ly/2J2uIHH
Jump right in: bit.ly/2J3bEZR
Follow us ONLINE:
Patreon: / democracyatwork
Websites: www.democracya...
www.rdwolff.com
DailyMotion: www.dailymotio...
Facebook: / richarddwolff
/ democracyatwrk
Twitter: / profwolff
/ democracyatwrk
Instagram: / democracyatwrk
Subscribe to our podcast: economicupdate...
Shop our Store: bit.ly/2JkxIfy
Greetings professor, I'm an Indian and I'm most great you mentioned our leader Subhash Chandra Bosh, yes our country is experiencing United States like inequality but we have something more, we have a facist goverment. Our government does everything it can, to destroy solidarity, to divide working class, to destroy any hope that we as society can equitable living for everyone. They made the country's richest people, world's richest people. I've seen the poverty created by the pandemic, while our PM praised startups and billionaires. I hope our revolutionaries struggling in South-east wins.
Hey professor wolf delighted to see this from India🇮🇳 watching you from 2 years.
Profound analysis on India. Thank you Prof Wolff
Profesor , we need atleast 10,000 billionaires and 10million millaniores. Professor once our per capita will rise to 10,000$s, people will have more commodity and more wealth. It is just 3000$s now it will rise slowly. Thank you for you compassion for indians who are poor, we have long way to go. Its a slow peocess .
Excellent analysis of colonialist capitalist exploitive inequalty. Most "independent" colonies recreated the same system model or are still manipulated by their old Masters, huh? (Canada, Australia, New Zeland)
That's not quite right, all the examples you listed listen to the USA ever since the UK kinda unofficially handed over the reigns of the empire to the USA.
Post ww2 France, UK, West Germany etc... were all rebuilt and function as Satellite states for the US and its interests.
@@danielzhender660 that's why your flag was not included in the commonwealth
IN INDIA HAS EMERGED A FUSION BETWEEN THE OLD CLASS SYSTEM AND MODERN CAPITALISM. SO, INDIA NEEDS TO REALIZE MODERN SOCIO-CAPITALISM, ORIENTATED AT THE EXCLUSIVE VALUATION OF WORK, THE DESTRUCTION OF CLASSES AND CONSERVATISM.
This is Capitalism, it's similarly to US.
Many said India will be the next powerhouse,if India still do not correct itself,it will be a big problems to India goings forward.
If a country is runs by these oligarchs,you do not expect any changes to takes placed,for simple reasons that in Democratic society,these politicians depended heavily from these oligarchs on political funding.
capitalism is not the problem, nor is the marksim a cure: in a democratic country ppl would decide what happens to their welth - we need more democracy not more utopias.
And no democracy is not a utopia - just look at the democracy index - more democracy = better life of the poorest
@@chillinJohnny "Capitalism is not the problem" which is what the BJP IT cell wants you to believe. "We need more democracy" what do you mean by that? On paper, we have more democracy than the USA.
@@morningstararun6278capitalism is not the problem its monopoly in capitalism. As a person from a communist state. Communism ruined our state. Mixed economy is better
Indeed, India never became free from colonialism. Free from British but fell into neo colonialism controlled by multinationals leashed by Anglo-American capitalism...
We need a benevolent global authority to work in transparency...
As an Indian, I totally agree with you. I see it first hand, with more Billionaires accumulating most of the wealth here. Are you aware of the Adani scandal ??
love your insights
As an Indian I can confirm
Nehruvian socialism was pretty successful and effective in growing India’s exploited post colonial economy. It is only later that the internal wide spread corruption (since indra gandhi to present), several wars with the fascist Pakistan that had maximum support of the imperialist US and its allies to attack and ultimately dismantle India’s socialist identity and economic structure. The socialist infrastructure built by India’s founding fathers like IITs AIMs IIMs and other foundational institutions remain. Nehru and his successors (up until Indra Gandhi) were incredibly successful in protecting India’s egalitarian ideas and it is quite depressing to see india delve deeper into the poisonous grasps of ethnic fascism and chrony capitalism with each coming day.
The great "Nehruvian socialism" resulted in 4-5% growth rate. Is that good enough for you?
Amazing insites... I just got this video in suggestions... great explanation
As an Indian I can corroborate the same argument. India and Indians need to go beyond colonialism and it's philosophy the capitalism. India as an independent nation started on the road of socialism till 1990s and had achieved progress with marginal ly high inequality. But since 1991 India has embraced globalist capitalism which is nothing but the neocolonialism and finds itself with the obscene inequality which seems incurable since both the right wing ruling party as well as the opposition believe in right wing economic solutions which exacerbate inequality.
Between 1947 and 1991 India was ruled by people like Wolff and India's share of global GDP fell from 4 to 5 percent of global GDP to 1.9% of global GDP in the early 1990s. India became dirt poor.
Since the 1990s India has had an economic miracle. Poverty in India has collapsed. Within a generation India is likely to have a larger economy than the USA. What about this upsets you?
It should be noted that the smug, self-serving indifference that colonial powers have demonstrated all around the world, is now being felt within America's own borders. The same cadre of well-heeled "entrepreneurs" who ravaged much of the Third World, usurped whole island nations (Hawaii for example) and fomented wars and political coups wherever they could, now exhibit the same indifference to their own fellow citizens. Look no further than the egregious upward transfer of wealth that has occurred over the last 40 years. That wealth didn't "evaporate"
The Gilded Age cemented
BORN from Socialist Policies which have DERAILED the means of Production, Disrupted the Order of Business, caused many to lose what they have worked so hard for....
SOCIALIST Leaders, create Havoc and then use it as PROOF, capitalism is Broken.
Venezuela, Canada, Cuba.... alll falling apart from Socialist Leaders inacting unthoughtout Policies.
Then Wealth Transfer Follows.... #COVID is a Classic Example/
Geeta analysis
Gandhi was an agent of the British.
He worked to transfer the colonial system from British capital to gujarati rajasthani capital.
And seeing today's India with Adani, Ambani and other Gujaratis, Gandhi succeeded in doing so.
@@morningstararun6278 yes
Good to hear side by side names such as hochimin, mao and Nelson. Brake those shackles
Okay what do you consider a model country today, where there is less inequality??
BJP IT cell should peep into this
They have a big, cringy propaganda network to keep the Indians blinded in nationalism.
What is your problem with hundreds of millions of ethnic Indians around the world?
substantive nature choice for God's free will sovereignty
This is insanity.
@@keepingittight hell no we're not.
👁💐
We agree with this but its inevitable that there could be chances of civil war to wash out its own system,
Purpose of employment in India is not for the betterment of workforce, not for citizens quality of life, not for developing country,
It's only to increase wealth of the top 1% Indians.
The bottom 99% Indians work to feed the top 1% Indian luxuries. If it was for citizens wellbeing there wouldn't have been crazy levels of inequality in terms of wealth also most importantly the areas where they live(as both pay same property tax but one gets poor infra other get good infra access.)
Indians were abused then by colonies now by capitalists.
Properties in Indian suburbs cost almost the same as properties in Britain suburb, only difference is that the Indian suburbs are crappy in terms of development and quality, connectivity(sometimes no road even to enter properties) but British suburbs are at least 100 times ahead in development and quality, connectivity
India is a continuation of the British empire
Rushi Sunak
Trying to follow Gandhi's ideas kept India poor. It had to open up to globalization and integrate with rich countries to start growing.
Salty much? Let the rich enjoy their wealth!
Subhas Chandra Bose ♥️
Don't need any help.
The Same Shit is Just Similar Shit Different Day. NYC
There's data showing that China's inequality levels are comparable to those of India and USA too, even though their self-proclaimed socioeconomic system is different.
But there is a huge difference between China and India, US economic system. And that difference is what basically separates a Capitalist nation and Socialist one. If you don't earn enough in India or US, you are simply done. Unspeakable atrocities will happen to you(don't know about the US, but in India, it sure does happen). Even if you don't earn enough in China, you will still have food, clothing and shelter. Yes you will be poor, but you can still be a human who lives with dignity(if you know what I mean).
@@morningstararun6278 no you won't. I've seen travel videos from China - there's still very scruffy people sitting on the streets in China as well.
@@LVArturs Oh really? Why don't you paste the link of one of those travel videos? I also wanna take a look.
@@morningstararun6278 ua-cam.com/video/oLMnVpuhGD0/v-deo.html
@@LVArturs You know I am still waiting for a reply from you. Where did you watch that video? on which platform?
The new boss is the same as the old boss, but now they have the same skin color. Improvement? Not. It depends on how you measure it.
thanks again prof. Wolff. Your knowlage enable us to know what's going on in the world. Also decisiveness inspire us to think and act for a better world.
So the ravages of mammon continues, as correctly pictured or imaged in the “good book”, in nations especially in the age of globalisation. Like the rich ruler, no govt has the political will to “sell out” and “follow”.
Luk 18:22 Now when Jesus heard these things, he said unto him, Yet lackest thou one thing: sell all that thou hast, and distribute unto the poor, and thou shalt have treasure in heaven: and come, follow me.
Do you see the abrahamic religion moving mountain? No. They are clueless. These approved religion(only approved religion can coexist with the rulers because they are submissive to political power who serves mammon) are no threat to govts who know not the meaning of “follow” and their govts are thrilled to have them labour with mammon besides them.
His call to address capitalism and hegemonic rule is futile because the intellect/wisdom of man has been made…foolish.
1Co 1:20 Where is the wise? where is the scribe? where is the disputer of this world? hath not God made foolish the wisdom of this world?
What does it mean to “sell all” and “distribute” to “the poor”? It is not what is apparent to carnal mind who would naturally shun the wisdom from above, deeming it impractical, impossible and obviously not in the interests of those who richly benefited from the economy.
Dude just wait for 10 years, u would be dancing to Indian tunes, like the way west is dancing to china now. Dominance of west is already over.
All around good presentation. You get a A-. Bose is too controversial though. Use a different Indian revolutionary as an example to get an A.
Ofcourse india have poverty and very much wealth inequality but I don't think revolution is possible in India other than what said in principle of communism
It follows that the communist revolution will not merely be a national phenomenon but must take place simultaneously in all civilized countries - that is to say, at least in England, America, France, and Germany.
Wish democracy at work good times with struggle
Communism is dead. Long live egalitarian, democratic socialism.
@@kevinschmidt2210 I don't know how you said but it all means, means of production will get transferred to working class
@@tanujSE Not under Communism, which is long dead.
@@kevinschmidt2210 Again I don't know as ussr was not completly marxist and Marx and Engels didn't predicted the year of revolution
@@tanujSE You said Communism, not Marxism. Stop trying to move the goal posts. Neither Marx nor Engels would agree that totalitarian USSR and China Communism is Marxism.
So Professor, is there inequality in India? Class warfare? Do you think
the 3000 year old "caste system" in India might have something to do with that?
What does Oxfam have to say about it?
This brings us to our introductory segment...and the selective excerpts citing this
percentage and that, without specification of detail, equating capitalism with colonialism,
while again, ironically citing the government, for the resultant inequality.
This again seems rather a strange conclusion, given the claim of exploitation attributed
to the colonizers...and that having achieved independence from it, the path forward
is either to seek to add value to the resources available, thereby mimicking that
of the colonizers, which would give rise to the inequality of those capable of
organizing such efforts, or continuing to export those resources at what
ever the market will bear, thereby minimizing the gap between the top and bottom,
although one would still have a ruling class and a subservient one.
But here's an interesting question for you, Professor? When you were teaching,
did you grade your students "equally"?
How many people does the 1% EMPLOY ???
Now relate that to how much capital does they own.
If that is your argument, then let me tell you. Compared to their wealth, those 1 percent should at least employ a million times more employees than they actually do now.
@@morningstararun6278
The 1% .... $40K a year in Canada
-> Who else are you employing if you ONLY make $40K a year????
Do you make OVER $40K.... WHO do you EMPLOY?
See Comment below.
@@DKSorgis this a reply or a rebuttal to my point? You are asking me an average Indian on how many people do I employ. The answer is none.
VIVA PUERTO RICO LIBRE SOBERANO Y SOCIALISTA !!!
Puerto Rico does not want to be communist or socialist. Less than 2% want to be independent and a majority want statehood.
@@beastmode8203 uno propone y Dios dispone. The US does not want to be a fallen empire, less than 2% want to be communist and a majority wants a fair country.
@@josephcrespo8193 the world would burn ☢️ before the US falls.
This has got to be one of the dystopian irrational takes of all time.
In 1947, India had 4 to 5 percent of global GDP. And then morons very similar to Prof Wolff ran the Indian economy from 1947 to 1991. India's share of global GDP fell to 1.9% of global GDP in the early 1990s. India was a Richard Woff style socialist dirt poor country in the 1990s. Since the early 1990s, India has become an asian tiger economic miracle with massive increases in real per capita income and a massive collapse in poverty.
Specifically, Calcutta, India, 1945-1950s was the richest and most important and largest economic, financial and manufacturing center in all of Asia. And then Richard Woff style communists took over. They murdered Calcutta and made Calcutta dirt poor. Devastating the entire economies of eastern India, Bangladesh, Myamnar, Nepal and Bhutan in the process.
This is why very dangerous people such as Richard Woff and his fellow travelers must not be allowed anywhere near the corridors of power in any country.
We had socialism sir uptill 1991 and it made us horrible economically.We literally had to beg from world bank. Thing is socialism makes you feel you are the owner and no one's slave but it's capitalism that puts food on table . And sir India is a fairly socialist state. Indian government distributes almost free food grains to 800 million people through public distribution systems. Our higher education is very cheap with placing no debt burden on students. Our healthcare though not very efficient but still is very cheap compared to West. Socialism is all good for a rich country with inequality,but what about a poor country like us , someone needs to do the wealth creation. Btw sir the platform UA-cam on which you are broadcasting your knowledgeable,is run on advertisement money ,paid by companies who advertise their products. Could such a platform have developed if there ware no rich companies to pay people to spread knowledge . I am not defensive capitalism but both systems have strengths and weaknesses. However much you bush around , China could rise only because of capitalism that's a fact.